Sallie Mae Receives 'Exceptional Performance' Designation From U.S. Dept. of Education

RESTON, VA – SLM Corp., commonly known as Sallie Mae, announced today that it has earned the U.S. Department of Education’s “Exceptional Performance” designation, a classification awarded to qualified lenders and loan servicers for meeting certain government standards in administering loans under the Federal Family Education Loan Program (FFELP).

To qualify as an Exceptional Performer, lenders and servicers must achieve an overall compliance performance rating of 97 percent or higher for servicing requirements set by the Department on federally guaranteed loans.

As a result of the designation, Sallie Mae will receive 100 percent reimbursement on federally guaranteed student loan default claims.

SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, is the nation’s leading provider of education funding, managing nearly $95 billion in student loans for more than 7 million borrowers. The company primarily provides federally guaranteed student loans originated under the Federal Family Education Loan Program (FFELP), and offers comprehensive information and resources to guide students, parents and guidance professionals through the financial aid process. Sallie Mae was established in 1973 as a government- sponsored enterprise (GSE) called the Student Loan Marketing Association, and began the privatization process in 1997. Since then, the parent company name has changed, most recently to SLM Corporation. Through its specialized subsidiaries and divisions, Sallie Mae also provides an array of consumer credit loans, including those for lifelong learning and K-12 education, and business and technical products and services for colleges and universities. More information is available at www.salliemae.com. SLM Corporation and its subsidiaries, other than the Student Loan Marketing Association, are not sponsored by or agencies of the United States.