Sallie Mae Sells Residual Interest in a Federally Guaranteed Student Loan Trust

  Sallie Mae Sells Residual Interest in a Federally Guaranteed Student Loan
  Trust

Business Wire

NEWARK, Del. -- April 11, 2013

Sallie Mae (NASDAQ: SLM), formally SLM Corporation, today announced the sale
of the residual interest in its SLM Student Loan Trust 2006-2 securitization
to a third party. Sallie Mae will continue to service the student loans in the
trust under existing agreements. The transaction reduced student loan assets
by $2.03 billion and related liabilities by $1.99 billion. The gain from the
transaction will add approximately $.13 to Sallie Mae’s second-quarter 2013
GAAP and core diluted earnings per share.

Sallie Mae (NASDAQ: SLM) is the nation’s No. 1 financial services company
specializing in education. Celebrating 40 years of making a difference, Sallie
Mae continues to turn education dreams into reality for American families,
today serving 25 million customers. With products and services that include
529 college savings plans, Upromise rewards, scholarship search and planning
tools, education loans, 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.

Contact:

Sallie Mae
Media:
Martha Holler, 302-283-4036
martha.holler@SallieMae.com
or
Patricia Nash Christel, 302-283-4076
patricia.christel@SallieMae.com
or
Investors:
Joe Fisher, 302-283-4075
joe.fisher@SallieMae.com
or
Steven McGarry, 302-283-4074
steven.j.mcgarry@SallieMae.com