Originally created in 1972 as a Government-Sponsored Enterprise (GSE), SLM Corporation, or Sallie Mae, was fully privatized in 2004. In 2014, the company separated into two distinct entities: Sallie Mae, a consumer bank focused on originating private education loans and offering other banking products, and Navient, which services federal government-owned and other student loans. Today, Sallie Mae operates as an FDIC-insured industrial bank (Sallie Mae Bank) and offers a suite of products including private student loans for undergraduate and graduate students, savings accounts, certificates of deposit (CDs), and credit cards, all aimed at helping American families finance higher education.

Founded in

Switzerland