Sallie Mae Marks 10-Year Anniversary as a Fully Private Sector Company

Sallie Mae (NASDAQ: SLM)—formally SLM Corporation— the nation’s saving, planning and paying for college company, today commemorated the 10-year anniversary of the completion of its transition from a government-sponsored enterprise (GSE) to a fully private sector company. Sallie Mae completed the privatization process in December 2004, ending its formal ties to the federal government. Today Sallie Mae is listed on the NASDAQ with its shares trading under the ticker symbol SLM.

“From our early days as a GSE through our transition to a private sector company, Sallie Mae for the last 40 years has continued to be a trusted partner helping make the dream of higher education a reality for more than 30 million students and families,” said Charlie Rocha, senior vice president, Sallie Mae. “That same mission guides us today as a consumer bank that offers responsible consumer financial products that help families as they save, plan and pay for college.”

In 2006, the company began helping families save for college through Upromise by Sallie Mae, a program that allows members to earn cash back for college from everyday purchases. To date, Upromise members have collectively earned more than $850 million.

In 2009, Sallie Mae introduced the Smart Option Student Loan, a new private education loan that changed the student loan standard by encouraging monthly payments in school as a means of reducing total finance charges and helping students graduate with less debt. The Smart Option Student Loan also offers important consumer safeguards such as cosigner participation, disciplined underwriting, school certification, and flexible payment options.

In 2010, Sallie Mae Bank introduced FDIC-insured certificates of deposits, money market accounts and high yield savings accounts. Money market rates are up to 10 times the national average, and high yield savings account rates are up to eight times the national average; both account types have no monthly fees and no minimum balance requirements.1

In addition, the company offers free planning for college tools and resources, including the College Planning Calculator, Sallie Mae Scholarship Search and the College Ahead Mobile App. For more information, visit www.SallieMae.com.

1National statement savings rate courtesy of Bankrate.com's 2014 Passbook & Statement Savings Study, as of 10/8/2014.

Sallie Mae (NASDAQ: SLM) is the nation’s saving, planning, and paying for college company. Whether college is a long way off or just around the corner, Sallie Mae offers products that promote responsible personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.