Sallie Mae

SLM Corporation

Trade nameSallie Mae
FormerlyStudent Loan Marketing Association
TypePublic company, Corporation, formerly Government-sponsored enterprise
Traded asNasdaq: SLM, S&P 400 Component
IndustryFinancial services, Education
Founded1972;
HeadquartersNewark, Delaware, U.S.
ProductsPrivate student loans, Credit cards, College planning tools, Retail banking
Websitesalliemae.com
  • Subsidiaries
    • Sallie Mae Bank
    • SLM Financial Corporation
  • Sallie Mae also operates offices in New Castle, Delaware; Newton, Massachusetts; Indianapolis, Indiana; Salt Lake City, Utah; and Sterling, Virginia.
  • SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking.
  • The company's primary business is creating, servicing, and collecting private education loans.
  • The company also provides online tools and resources for college planning.
  • Sallie Mae previously originated federally guaranteed student loans under the Federal Family Education Loan Program (FFELP) and worked as a servicer and collector of federal student loans on behalf of the Department of Education.
  • The company now offers private education loans.
  • 2010.9.17 – Sallie Mae acquired federally insured loans from Citigroup-owned Student Loan Corporation worth $28 billion.
  • 2013 – SLM Corporation, the company that operates Sallie Mae, was formed in 2013.
  • 2014.2.25 – Sallie Mae announced the launch of Navient, a separate entity for federal student loan servicing.
  • 2014.4.30 – Sallie Mae spun off its loan servicing operation and most of its loan portfolio into a separate, publicly traded entity called Navient Corporation. (Navient is the largest servicer of federal student loans and acts as a collector on behalf of the Department of Education.)
    • Sallie Mae legally separated from Navient, and made its primary focus private student loans, banking products, and credit cards for college students and their families.
  • 2021.4 – Sallie Mae announced a partnership with MPOWER Financing in April 2021, to expand access to higher education for international and DACA students.

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