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Sallie Mae Announces Preferred Dividend

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^{Published in Business and Finance on Friday, April 1st 2011 at 16:20 GMT by Market Wire}  

NEWARK, Del.--([ BUSINESS WIRE ])--Sallie Mae (NYSE: SLM), the nationa™s No. 1 financial services company specializing in education, today announced a 2011 second-quarter dividend on its Preferred Stock Series A of $0.87125 per share. The dividend on the Preferred Stock Series A will be paid on May 2, 2011, to shareholders of record at the close of business on April 21, 2011.

On March 31, 2011, Sallie Mae had 3.3 million shares of Preferred Stock Series A, which trades on the New York Stock Exchange.

Sallie Mae (NYSE: SLM) is the nationa™s No. 1 financial services company specializing in education. Serving 23 million customers, Sallie Mae offers innovative savings tools, tuition payment plans and education loans that promote responsible financial habits and reward success. The company manages or services $235 billion in education loans and administers $35 billion in 529 college savings plans. Members of its Upromise college savings rewards program have earned $600 million to help pay for college. Sallie Mae is also one of the leading financial service providers for universities and governments at all levels. More information is available at [ www.SallieMae.com ]. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.