SLM Corporation, commonly known as Sallie Mae, is a financial services company headquartered in Newark, Delaware. Established in 1972, SLM Corporation primarily focuses on originating and servicing private education loans to students and their families in the United States. Apart from its primary business of student loans, the company also offers retail deposit accounts, incl.uding certificates of deposit, money market accounts, and high-yield savings accounts.
Sallie Mae has evolved over the years to become a significant player in the financial aid sector, supporting higher education financing through various loan products tailored to meet the needs of students and their families. The company provides private education loans to cover undergraduate and graduate studies, as well as loans for parents to help pay for their children’s education.
A key driver of SLM Corporation’s growth is its comprehensive approach to education financing, combining loan origination with loan servicing and a suite of savings products. This integrated model ensures a steady stream of revenue from both interest on loans and fees associated with account services. The company also benefits from its strong brand recognition and partnerships with educational institutions and financial advisors, which enhance its market reach and customer base.
