SLM Corporation

U.S. private student lender and online savings bank (Sallie Mae)

What SLM does

SLM Corporation lends money to U.S. students and their families to help pay for college and other education costs, and it also services those loans. It raises much of the money it lends by offering savings products to the public, such as high-yield savings accounts, money market accounts, and certificates of deposit.

How SLM makes money

It earns net interest income on the gap between the interest charged on private education loans and the interest it pays on retail deposits, plus income from servicing those loans.

Products & services

• Private education loans
• Loan servicing
• High-yield savings accounts
• Money market accounts
• Certificates of deposit (CDs)
• Interest-bearing omnibus accounts