SLM Corporation, commonly known as Sallie Mae, is a publicly-traded financial services company based in Newark, Delaware, that provides private student loans and other financial services. The company was originally established in 1972 as a government-sponsored enterprise (GSE) designed to provide federal education loans to students.
In 2014, Sallie Mae split into two separate companies: SLM Corporation, which retained ownership of the company's private education loan portfolio, and Navient Corporation, which now services and collects payments on those loans.
Today, SLM Corporation is one of the largest private student loan providers in the United States, offering a range of loan options to help students and their families finance the costs of higher education. The company also offers banking products, such as savings accounts and certificates of deposit (CDs), as well as credit cards and insurance services.
SLM Corporation's stock is publicly traded on the NASDAQ stock exchange under the ticker symbol "SLM". As of February 23, 2023, the company's market capitalization was approximately $4.4 billion, and its stock had a 52-week range of $13.63 to $22.55 per share. The company has a dividend yield of approximately 0.7%, and its stock is held by a number of institutional investors, including BlackRock, Vanguard Group, and State Street Corporation.
SLM Corporation has faced criticism in the past for its handling of private student loans, with some borrowers alleging that the company engaged in predatory lending practices and failed to provide adequate repayment options. However, the company has also received praise for its efforts to provide education and financial literacy resources to students and their families, as well as for its commitment to corporate social responsibility and sustainability initiatives.
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