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Press release from Business Wire

Sallie Mae Declares Common Stock Dividend

<p class='bwalignc'> <i><b>Announces Preferred Stock Series B Dividend</b></i> </p>

Monday, July 30, 2012

Sallie Mae Declares Common Stock Dividend16:21 EDT Monday, July 30, 2012 NEWARK, Del. (Business Wire) -- Sallie Mae (NASDAQ: SLM), the nation's No. 1 financial services company specializing in education, announced a 2012 third-quarter dividend on its common stock of $0.125 per share. The dividend will be paid on Sept. 21, 2012, to shareholders of record at the close of business on Sept. 7, 2012. In addition, the company announced a 2012 third-quarter dividend on its Preferred Stock Series B of $0.5660497 per share. The dividend on the Preferred Stock Series B will be paid on Sept. 17, 2012, to shareholders of record at the close of business on Sept. 7, 2012. On June 30, 2012, Sallie Mae had 469 million shares of common stock, 3.3 million shares of Preferred Stock Series A, and 4 million shares of Preferred Stock Series B outstanding. These shares trade on NASDAQ. 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, 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. Media:For Sallie MaeDebby Hohler, 617-454-6741,dhohler@upromise.comorSallie MaeMartha Holler, 302-283-4036martha.holler@SallieMae.comorInvestors:Sallie MaeJoe Fisher, 302-283-4075joe.fisher@SallieMae.comorSteven McGarry, 302-283-4074steven.j.mcgarry@SallieMae.com