Sallie Mae

SLM Corporation

Trade name	Sallie Mae
Formerly	Student Loan Marketing Association
Company type	Public
Traded as	Nasdaq: SLM S&P 400 Component
Industry	Financial services Education
Founded	June 23, 1972; 52 years ago (1972-06-23)
Headquarters	Newark, Delaware, U.S.
Key people	Jonathan Witter (CEO) Carter Franke (chair, Board of Directors) Kerri Palmer (COO) Pete Graham (CFO)
Products	Private student loans Credit cards College planning tools Retail banking [1][2][3]
Operating income	US$1.89 billion (2021)[4]
Net income	US$1.16 billion (2023)
Total assets	US$20.4 billion (2023)
Total equity	US$2.15 billion (2023)
Website	salliemae.com

SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking. Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans.

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)^[5] 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 and manages more than $12.97 billion in assets.

On April 30, 2014, 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.