SLM Corp — Director's Dealing 2010

Feb 1, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2010-01-28

Reporting Person: WILLIAMS BARRY LAWSON (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-01-28	Common Stock	A	5350	—	Acquired	36647.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-01-28	Stock Option (Right to Buy)	$10.3100	A	10900	Acquired	2020-01-28	Common Stock (10900.0000)	Direct

Footnotes

F1: These shares vest contingent upon the re-election to the SLM Corporation Board of Directors at the company's May 2010 annual shareholder meeting.

F2: Exercisable contingent upon the re-election to the SLM Corporation Board of Directors at the company's May 2010 annual shareholder meeting.