SLM Corp — Director's Dealing 2011

Nov 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2011-11-02

Reporting Person: LORD ALBERT L (Director, Vice Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-02	Common Stock	P	100000	$13.7045	Acquired	505195.481	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	24953.35	Indirect
Common Stock	2100	Indirect
Common Stock	133994.19	Indirect

Footnotes

F1: Represents the weighted average price per share of stock purchased by Mr. Lord between $13.6697 and $13.75. The reporting person undertakes to provide to SLM Corporation, any security holder of SLM Corporation or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price.

F2: Between January 31 and November 2, 2011, the reporting person acquired 2,294.85 share equivalents of SLM common stock under the SLM 401(k) Plan. The information in this report is based the individual's actual account balance as of November 2, 2011.

F3: Between January 31 and November 2, 2011, the reporting person acquired 5,717.04 share equivalents of SLM common stock under the SLM Supplement Thrift & Savings Plan. The information in this report is based the individual's actual account balance as of November 2, 2011.