SLM Corp

SLM Corporation, trading as Sallie Mae on the NASDAQ Global Select Market, operates as the premier financial brand in higher education through its website at www.salliemae.com. The company functions as an education solutions company providing students and families with products and services to navigate their higher education journey, supporting borrowers to, through, and immediately after college.

The company's core business centers on originating and servicing private education loans, which are education loans not made, insured, or guaranteed by any state or federal government. Sallie Mae originated approximately $7.4 billion in private education loans during 2025 and held $20.3 billion in private education loans for investment as of December 31, 2025. The company serves more families than any other private student loan lender and maintains relationships with more than 2,100 higher education institutions through its relationship management team.

Sallie Mae Bank, a wholly owned subsidiary established in 2005 and regulated by the Utah Department of Financial Institutions, the FDIC, and the Consumer Financial Protection Bureau, offers traditional savings products including high-yield savings accounts, money market accounts, and certificates of deposit alongside private education loan origination. As of December 31, 2025, the Bank held total assets of $29.7 billion and total deposits of $21.5 billion.

The company's primary private education loan product is the Smart Option Student Loan, which emphasizes in-school payment features. Sallie Mae also offers specialized loan products for graduate programs including law school, MBA, medical school, dental school, and health professions loans. The company's lending philosophy emphasizes responsible borrowing and includes features such as no origination fees, no prepayment penalties, interest rate reductions for auto-debit enrollment, and loan forgiveness upon borrower death or permanent disability.

In 2022, Sallie Mae acquired Nitro College to enhance digital marketing capabilities and expand its role as an education solutions provider. The company completed acquisition of key assets from Scholly in 2023, adding a scholarship search platform. During 2025, Sallie Mae announced its first private credit strategic partnership, establishing a capital-light, fee-based revenue model while maintaining customer relationships and servicing operations.