SLM (NASDAQ:SLM), commonly known as Sallie Mae, is a national consumer banking institution specializing in private education loans and related financial services. As a private bank, the company focuses on providing credit products designed to meet the needs of students and their families, including undergraduate and graduate private student loans, K-12 financing, and career training loans. In addition to lending, SLM offers deposit accounts, such as savings and checking products, as well as credit cards tailored to the student demographic.
Founded in 1972 as the Student Loan Marketing Association, Sallie Mae transitioned from a government-sponsored enterprise to a fully private entity in 2004. Headquartered in Newark, Delaware, the company operates across all 50 states, the District of Columbia, and U.S. territories. Its digital platform allows borrowers to apply for loans, manage accounts, and access customer service support from virtually anywhere, extending its reach beyond domestic borders through online channels.
The company’s product portfolio encompasses in-school loans, deferred repayment options, interest-only payment plans, and loan refinancing solutions aimed at helping graduates consolidate and reduce the cost of existing federal and private education debt. SLM also provides online tools such as repayment calculators, financial literacy resources, and personalized customer support to guide borrowers through each stage of the loan lifecycle. These offerings are supported by a streamlined digital origination process and a mobile app for on-the-go account management.
SLM’s executive leadership team brings decades of experience in consumer finance, banking, and higher education lending. The company is governed by a Board of Directors composed of finance and education professionals who set strategic direction and oversee risk management practices. Day-to-day operations are led by senior executives, including the chief executive officer and chief financial officer, who together drive growth initiatives, ensure regulatory compliance, and uphold a commitment to customer service excellence.
