RESTON, Va., April 30, 2008—SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, today issued the following statement in response to U.S. Senate passage of “Ensuring Continued Access to Student Loans Act of 2008”:
“The legislation passed by the Senate today provides the Department of Education, at no cost to taxpayers, the flexibility to implement a comprehensive, equitable solution to the credit crunch in the student loan capital markets.
“We are optimistic that the Department will detail its plan as expeditiously as the Congress moved this legislation so lenders can serve students and schools without interruption.”
For more information contact:
Martha Holler (703) 984-5178 (media)
Steve McGarry (703) 984-6746 (investor)
SLM Corporation (NYSE:
SLM), commonly known as Sallie Mae, is the nation’s leading provider of saving- and paying-for-college programs. The company manages nearly $178 billion in education loans and serves 10 million student and parent customers. Through its Upromise affiliates, the company also manages more than $19 billion in 529 college-savings plans, and is a major, private source of college funding contributions in America with 9.4 million members and $450 million in member rewards. Sallie Mae and its subsidiaries offer debt management services as well as business and technical products to a range of business clients, including higher education institutions, student loan guarantors and state and federal agencies. More information is available at
www.salliemae.com. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.