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Press release from Business Wire

Sallie Mae Announces Second Quarter Preferred Dividend

Friday, March 30, 2012

Sallie Mae Announces Second Quarter Preferred Dividend16:15 EDT Friday, March 30, 2012 NEWARK, Del. (Business Wire) -- Sallie Mae (NASDAQ: SLM), the nation's No. 1 financial services company specializing in education, today announced a 2012 second-quarter dividend on its Preferred Stock Series A of $0.87125 per share. The dividend on the Preferred Stock Series A will be paid on April 30, 2012, to shareholders of record at the close of business on April 20, 2012. On December 31, 2011, Sallie Mae's Preferred Stock Series A, which trades on NASDAQ, totaled 3.3 million shares outstanding. 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 turns education dreams into reality for its 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 Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America. Sallie MaeMedia:Patricia Nash Christel, 302-283-4076patricia.christel@salliemae.comorInvestors:Joe Fisher, 302-283-4075joe.fisher@salliemae.comorSteven McGarry,