Publicly traded corporation known as Sallie Mae, providing private student loans, education planning, and college savings products.
SLM Corporation, headquartered in Newark, Delaware, operates as a prominent provider of private education loans in the United States through its subsidiaries. Established in 1972 and formerly known as New BLC Corporation, the company rebranded to SLM Corporation in December 2013. SLM's primary business revolves around originating and servicing private education loans that help students and their families finance the costs associated with higher education. These loans complement financial aid and federal student loans, providing flexible financing options tailored to meet the diverse needs of students pursuing educational opportunities.
In addition to private education loans, SLM Corporation expands its financial services to include retail deposit accounts such as certificates of deposit, money market deposit accounts, and high-yield savings accounts. The company also extends credit card loans, broadening its portfolio to cater to a wider range of financial needs among its clientele. SLM Corporation's commitment to financial education and support enhances its role as a trusted partner in higher education financing, offering resources and tools to empower students and families in making informed financial decisions.
As the financial landscape continues to evolve with technological advancements and innovations, including developments in cryptocurrencies and blockchain technology, SLM Corporation has not yet ventured into these areas. The company remains focused on its core mission of providing accessible and affordable financing solutions for education. With a strong foundation in student lending and financial services, SLM Corporation continues to uphold its reputation for reliability and customer-centricity, supporting educational aspirations and fostering financial well-being for future generations.