SLM Corp

SLM Corporation, known as Sallie Mae, is a financial brand focused on higher education. The company provides products and services to students and families to support them before, during, and immediately after higher education. Sallie Mae offers free tools, resources, scholarships, and financing options to simplify college planning and promote access to and completion of higher education. The company believes education is a foundation for success and a pathway to economic mobility. For instance, individuals with bachelor's degrees earn 66 percent more than those with a high school diploma, and those with advanced degrees earn even more. The current SLM Corporation was formed in late 2013 and includes its wholly owned subsidiary, Sallie Mae Bank, an industrial bank established in 2005. On April 30, 2014, Sallie Mae legally separated from Navient Corporation, which handles education loan management, consolidation loans, and business processing. Navient retained all assets and liabilities generated before the separation, except those explicitly retained by SLM Corporation under the Separation and Distribution Agreement.