SLM Corporation, commonly known as Sallie Mae, is a leading consumer banking company specializing in private education loans and related financial services in the United States. Its primary function i... SLM Corporation, commonly known as Sallie Mae, is a leading consumer banking company specializing in private education loans and related financial services in the United States. Its primary function is to originate, service, and collect private student loans for undergraduate, graduate, MBA, career training, parent, medical, dental, and law programs, helping students and families finance higher education costs. SLM Corporation also provides retail banking products including high-yield savings accounts, money market accounts, and certificates of deposit, along with college savings options like 529 plans, scholarship search tools, and financial planning resources. Operating in the education finance and credit services sectors, it supports a wide range of customers from prospective students and parents to alumni through online tools, direct marketing, and campus partnerships. Founded in 1972 and headquartered in Newark, Delaware, SLM Corporation plays a key role in making education more accessible by offering a comprehensive ecosystem of savings, planning, and payment solutions tailored to the unique needs of the higher education community.
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