 | |
| Sallie Mae | |
| Formerly | Student Loan Marketing Association |
| Company type | Public |
| Nasdaq: SLM S&P 400 Component | |
| Industry | |
| Founded | June 23, 1972 |
| Headquarters | Newark, Delaware, U.S. |
Key people | |
| Products |
|
| US$1.89 billion (2021)[4] | |
| US$1.16 billion (2023) | |
| Total assets | US$20.4 billion (2023) |
| Total equity | US$2.15 billion (2023) |
| Website | salliemae |
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.
- ^ "Sallie Mae Bank CD Rates". Forbes. Retrieved 27 August 2021.
- ^ "Sallie Mae". Sallie Mae. Retrieved 27 August 2021.
- ^ "This credit card will let you earn rewards to pay off your student loans - but is it a good deal?". MarketWatch. Retrieved 27 August 2021.
- ^ "Form 10-K Slm Corp" (PDF). Sallie Mae. Retrieved 31 March 2022.
- ^ "Reuters SLM Corp. Profile". Reuters. Retrieved 2009-10-06.