RESTON, Va., May 20, 2008—Sallie Mae (NYSE: SLM), the nation’s leading saving- and paying-for-college company, today announced the appointments of Tim Hynes and John Kane.

Tim Hynes joins Sallie Mae as senior vice president, credit. In this newly created role, Hynes will head the credit department and build the company’s infrastructure, controls and analytics for sound credit risk management and quality asset growth. Previously Hynes served in a variety of consumer finance lending and credit management roles at MBNA America, both in the U.S. and abroad. Most recently, he had profit and loss responsibility for new and existing credit card account marketing for Bank of America. Hynes received a Bachelor of Science degree in business administration from the University of Richmond.

John Kane joins Sallie Mae as senior vice president, collections. In this role, Kane will oversee the company’s contingency and private credit collection activities. Previously, Kane served in a variety of roles within consumer credit operations at MBNA America, including credit acquisition, fraud, collections and delinquency management. Most recently, he directed enterprise fraud strategies for Bank of America’s global consumer group. Kane received a Bachelor of Arts degree in economics from the University of Delaware.

“We are excited to welcome both Tim and John to this great company,” said Jack Hewes, executive vice president and chief credit officer. “Their experience and credit discipline will bring significant value to our growing business.”

For more information contact:
Tom Joyce (703) 984-5610 (media)
Steve McGarry (703) 984-6746 (investors)