DSU interns go to work at Sallie Mae

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The interns are (left to right): Jiafu Zhang (M.B.A., 2014) of Dover, Del.; Anthony Colonnello (B.S., 2015) of Middletown, Del.; Marcia Tucker (B.S., 2014) of Mount Vernon, N.Y.; Michelle Rolsal (B.A., 2013) of Dover, Del.; Christen Thomas (B.S., 2015) of Baltimore, Md.; Neil Shah (B.S., 2015) of Dover, Del.; and, Mariah Edwards (B.S. 2013 & M.B.A. 2014) of Bowie, Md. Not pictured: Edward Doxen III (B.S.W., 2014) of Washington, D.C.

Eight students from Delaware State University started a summer internship program at Sallie Mae’s headquarters near  Newark.

The new program was established in partnership with DSU as part of Sallie Mae’s commitment to the communities.

“The Sallie Mae summer internship program provides DSU students with an invaluable opportunity to expand their classroom knowledge and expose them to real world tasks in a corporate environment,” said Dr. Shelton Rhodes, dean of the DSU College of Business. “In this professional environment, these high-achieving students can practice, further excel their skills through project-based assignments, and thereby gain experience that will increase their preparedness to compete in the global job market upon their graduation.”

The interns are current students and new graduates with majors in business management, accounting, mass communications, and social work.

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Participants will work in audit, compliance, finance, human resources, communications, marketing, and servicing departments. Over the course of 10 weeks, they will complete meaningful assignments and gain practical work experience. They will also participate in scheduled professional development sessions on such topics as workplace professionalism, conflict management, presentation skills and advanced communication. Each intern will also have an opportunity to participate in one-on-one simulated job interviews.

“This program makes a critical connection between the classroom and the office that will prepare the interns for future employment opportunities,” said Joni Reich, executive vice president, Sallie Mae. “It will develop the next generation of leaders at Sallie Mae and in Delaware.”

Financial Literacy grants

Gov. Jack Markell announced 19 Delaware nonprofit organizations will receive $355,000 in grant money from the state’s Financial Literacy Education Fund (FLEF). Through the FLEF grant program, these nonprofit organizations will improve the financial skills of Delawareans through education on how to budget, save, invest and plan for the future. Twenty-four organizations throughout Delaware applied for funding from the state’s Financial Literacy Education Fund. In making the announcement   Markell was joined   by State Bank Commissioner Robert Glen.

The Financial Literacy Education Fund was established in 2009 when  Markell signed Senate Bill 108 requiring businesses that make short-term consumer loans (such as title loans and payday loans) to pay an annual high-cost loan license fee of $1,500 for each licensed office. These funds are deposited into the FLEF, which the law states must be used to fund grants to or contracts with schools or other organizations that provide financial and economic literacy skills to adults and youth in Delaware.

In 2011, the first grant year saw 13 organizations receive over $550,000 in grant awards. In 2012, the second grant year saw 22 organizations receive over $452,000 in grant awards.

“These organizations have done our state a great service by helping hundreds of Delawareans gain the tools to make sound financial judgments,” said Markell. “Our greatest asset is our people and we all benefit from a stronger economy when more people in our state make smart decisions for their future and their families.”

The FLEF is administered by the Office of the State Bank Commissioner and the Secretary of State’s Office. Applications for the competitive grants were rated on how they would improve the financial literacy of Delawareans.

Programs reaching populations or geographic regions within Delaware that have limited access to financial literacy programs, particularly reaching out to members of the military, seniors and minority communities, were encouraged. The Fund has one competitive grant cycle each calendar year.

All schools recognized by the Delaware Department of Education and nonprofit organizations within the State of Delaware that have a 501(c)(3) designation by the Internal Revenue Service were eligible to apply.

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