SLM Corporation : Sallie Mae extends $7.5 billion financing facility to 2015

NEWARK, Del., Jan. 13, 2012- Sallie Mae (NASDAQ: SLM) announced today that it has extended the term of its $7.5 billion asset-backed commercial paper (ABCP) facility for an additional 364 days.

The financing arrangement, which includes participation by all seven members of the original bank group, increases the facility's size, retains the same pricing, and extends the facility's maturity date to Jan. 9, 2015. In addition, annual step-downs in the facility size will slow to $1 billion vs. the original $2.5 billion, providing significant, incremental liquidity to acquire federally guaranteed loans or refinance loans from the Straight A conduit.
Sallie Mae (NASDAQ: SLM) is the nation's No. 1 financial services company specializing in education. Whether college is a long way off or just around the corner, Sallie Mae helps turn education dreams into reality for 25 million customers. With products and services that include college savings programs, scholarship search tools, education loans, tuition insurance, and online banking, Sallie Mae offers solutions that help families save, plan, and pay for college. Sallie Mae also provides financial services to hundreds of college campuses as well as to federal and state governments. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America. CONTACTS:

Media: Patricia Nash Christel, [phone]
Investors: Steve McGarry, [phone]
Joe Fisher, [phone]