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Sallie Mae

Headquarters: 12061 Bluemont Way
Reston, VA 20190
Employees: 8,000
CEO: Albert Lord
Stock Symbol: SLM


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Sallie Mae is the nation's leading provider of education funding and has helped millions of Americans achieve their dream of a higher education. The company provides federal and private student loans, including consolidation loans, for undergraduate and graduate students and their parents.

Through its subsidiaries, the company manages $180 billion in education loans and serves 10 million student and parent customers. Through its Upromise affiliates, the company also manages more than $17.5 billion in 529 college-savings plans, and is a major, private source of college funding contributions in America with 10 million members and more than $475 million in member rewards.

Sallie Mae and its subsidiaries offer debt management services as well as business and technical products to a range of business clients, including higher education institutions, student loan guarantors and state and federal agencies.

In 2008, Sallie Mae reported revenues of $8.3 billion and net loss of $212.6 million.

The company announced in April plans to create 2,000 jobs by returning its overseas operations to the U.S. Specifically, Sallie Mae will hire call center, information technology, and operations support positions in various communities across the country.

Sallie Mae is also known as SLM Corporation.


Sallie Mae was originally created in 1972 as the Student Loan Marketing Corporation, a federal government-sponsored entity. The company began privatizing its operations in 1997, a process it completed at the end of 2004 when the company terminated its ties to the federal government.


Medical, dental, and vision care

Sallie Mae offers comprehensive medical, dental, and vision coverage to all benefit-eligible employees and their dependents, including same- and opposite-sex domestic partners.

On average, Sallie Mae subsidizes 80% of the cost of employees' healthcare premiums. We offer PPO, HMO, and High Deductible medical plan choices in most areas. The High Deductible medical plan features low premiums, a pre-tax Health Savings Account and a significant company contribution that can be used to offset your healthcare expenses.

Retirement 401(k)

Employees rank Sallie Maes 401(k) Retirement Savings Plan as one of the best benefits we offer. The Plan allows you to defer up to 75% of your eligible pay on a pre-tax basis up to the annual IRS limits. In addition, we offer a 5% contribution of which 4% is provided on a matching basis and 1% is provided to you regardless of whether or not you participate in the plan. After just one year of service, you are 100% vested in the company matching contributions.

Paid time off

Sallie Mae understands you need time off to "recharge" or to attend to family and personal issues. That's why we provide very generous vacation, sick, and paid time off programs, including paid holidays, professional exam days, bereavement, military, and jury duty leave.

We also provide paid time off for those who volunteer their time to serve the education community.

Life and disability insurance

Sallie Mae provides fully paid life, accidental death, and dependent life insurance. Supplemental term life and accidental death and dismemberment coverage is available, at reduced rates, for employees, spouses, and eligible children.

Sallie Mae also provides short- and long-term disability coverage, at no cost to employees. If you become disabled and unable to work, you may be eligible for disability benefits that replace a portion of your lost income.

Other benefits

* Tuition reimbursement
* Employee scholarship program
* Flexible spending accounts including a $1,000 dependent care match
* Matching contributions to charitable organizations
* On-site fitness centers at many locations
* Employee assistance program
* Discounts on auto and homeowner's insurance
* Long-term care insurance

Updated April 6, 2009

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