Breaking News

Tweet TWEET

ADDING MULTIMEDIA Sallie Mae Celebrates 40th Anniversary

  ADDING MULTIMEDIA Sallie Mae Celebrates 40th Anniversary

Business Wire

NEWARK, Del. -- May 14, 2013

Sallie Mae (NASDAQ: SLM) today celebrated 40 years of serving students and
families in their pursuit of higher education.

Shown from left: Laurent Lutz, Executive Vice President & General Counsel,
Sallie Mae; Joe DePaulo, ...

Shown from left: Laurent Lutz, Executive Vice President & General Counsel,
Sallie Mae; Joe DePaulo, Executive Vice President of Banking & Finance, Sallie
Mae; Jack Remondi, President & COO, Sallie Mae; Al Lord, Vice Chairman & CEO,
Sallie Mae; Joni Reich, Executive Vice President of Administration, Sallie
Mae; Delaware Governor Jack Markell; and George Krupanski of the Boys & Girls
Clubs of Delaware. (Photo: Business Wire)

When Sallie Mae opened on May 13, 1973 at 1750 K Street in Washington, D.C.,
the company was a government-sponsored start-up with just seven employees.
Today, Sallie Mae is the nation’s No. 1 financial services company
specializing in education, employing more than 7,000 people nationwide.

Delaware employees celebrated the company’s 40th anniversary in Newark at a
ceremony today at the corporate headquarters. They were joined by Delaware
Governor Jack Markell and other leaders in government, business and education.

“For 40 years, Sallie Mae has helped students make an investment in their
future,” Gov. Markell said. “We’re happy the company continues to invest in
our state’s economic future as well. Its commitment to helping students obtain
access to higher education is critical to preparing our workforce for the jobs
of tomorrow.”

Sallie Mae has undergone significant transformations since its creation. The
company went public in 1983. It began privatization in 1997 and completed the
process in 2004. The company acquired multiple loan origination franchises and
receivables management companies to enhance and diversify its lines of
business.

In 2009, Sallie Mae began to service federal loans on behalf of the U.S.
Department of Education. After the federal government ended the Federal Family
Education Loan Program in 2010, Sallie Mae refocused its business to emphasize
its consumer lending and business services segments. In the transition, its
private loan originations have increased, and its emphasis on credit quality
and responsible lending remain at the core of its lending philosophy.

Introduced in March 2009, Sallie Mae’s Smart Option Student Loan was the first
national private education loan product to require interest-only payments
during school to reduce consumers’ total borrowing costs. Later it introduced
additional payment and fixed-interest-rate options, adding even more choice
and flexibility to its private education loan products.

Through the years, Sallie Mae has also become a leader in helping families
save for college. In 2006, Sallie Mae acquired Upromise and Upromise
Investments. To date, Americans have earned nearly $750 million in Upromise
rewards to boost their college savings accounts. And, in 2011, Sallie Mae
expanded its college savings initiatives with retail banking products:
high-yield savings accounts and CDs through Sallie Mae Bank.

“At the time of our creation, the media heralded Sallie Mae as an investment
in America’s future that would open the way for thousands of qualified
students to achieve what would otherwise have been an impossible dream,” said
Albert L. Lord, vice chairman & CEO. “A lot has changed since 1973, but one
thing has remained very much the same – a higher education generates
undeniable value for those who complete it. My colleagues and I are quite
proud of the difference we have made by helping more than 31 million students
invest in themselves. As we look ahead, we remain committed to our mission of
helping students and families save, plan and pay responsibly for college.”

Sara Patterson is the longest-tenured employee at Sallie Mae with 34 years of
experience. She works at the Sallie Mae center in Fishers, Ind.

“Sallie Mae has experienced significant change in all those years, but it has
adapted to new opportunities and continued to make a difference to millions of
students,” Patterson said. “That’s a true testament to the leadership of the
company, but also to all the people who work at Sallie Mae. They’re just good
people who want to do a good job every day.”

Since 2001, The Sallie Mae Fund, the charitable organization sponsored by
Sallie Mae, has contributed more than $125 million to increase access to
higher education and support local communities.

To mark 40 years and to commit to helping the next generation of students
dream, invest and succeed, company executives presented a $40,000 check to the
Boys & Girls Clubs of Delaware. The program will support college awareness
education statewide.

“Our partnership with Sallie Mae is enabling our youth to aspire beyond high
school to prepare for success in college and throughout life,” said George
Krupanski, president of the Boys & Girls Clubs of Delaware. “The grant builds
upon a $250,000 commitment made by Sallie Mae in August 2012 to our
organization and demonstrates first hand Sallie Mae's commitment to the youth
of our state.”

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 25million 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.

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20130513005977/en/

Multimedia
Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50630970&lang=en

Contact:

Sallie Mae
Nikki Lavoie, 302-283-4057
Nikki.Lavoie@SallieMae.com