SLM CORPORATION

OFFER TO PURCHASE FOR CASH

Offer to Purchase for Cash
Any and All of the Outstanding 3.125% Senior Notes due 2026


The Tender Offer will expire at 5:00 p.m., New York City time, on May 12, 2026 unless extended or earlier terminated (such time and date, as the same may be extended, the “Expiration Time”). Guaranteed deliveries will expire at 5:00 p.m., New York City time, on the second business day following the Expiration Time (the “Guaranteed Delivery Date”). Holders of Notes must validly tender and not validly withdraw their Notes prior to the Expiration Time to be eligible to receive the Purchase Price. Tendered Notes may be withdrawn at any time prior to the Expiration Time.


Title of Security

CUSIP / ISIN Number

Principal Amount Outstanding

U.S. Treasury Reference Security


3.125% Senior Notes due 2026(1)


78442P GE0 / US78442PGE07


$500,000,000


4.12% U.S. Treasury due October 31, 2026

______________________________________________________________________________________________
(1) The Notes will mature on November 2, 2026.

To view copies of the Offer To Purchase documents please click on the links below

Offer to Purchase

Notice of Guaranteed Delivery

Launch Press Release


Any questions, requests for assistance or requests for additional copies of this Offer to Purchase or the Notice of Guaranteed Delivery may be directed to the Information Agent at its telephone number or address set forth below.

The Tender and Information Agent for the Tender Offer is:

D.F. KING & CO., INC.

28 Liberty Street, Floor 53,
New York, NY 10005
Banks and Brokers Call: (212) 652-2403
All Others Call Toll Free: (888) 626-0988
Email: slm@dfking.com

By Facsimile Transmission (for Eligible Institutions Only):
(212) 709-3328

Confirmation by Telephone:
(212) 232-3233

The Dealer Manager for the Tender Offer is:

J.P. Morgan Securities LLC

Attention: Liability Management Desk
270 Park Avenue
New York, New York 10017
U.S. Toll Free: (866) 834-4666
Collect: (212) 834-7489