SLM Corp — Director's Dealing 2013

May 1, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2013-05-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-01	Common Stock	S	20000	$20.57	Disposed	982533.481	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	30272.2702	Indirect
Common Stock	2100	Indirect
Common Stock	145210.5966	Indirect

Footnotes

F1: The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on February 14, 2013, and effective on February 19, 2013.

F2: Represents share equivalents of SLM common stock under the SLM 401(k) Plan based on the individual's actual account balance as of April 30, 2013. Share equivalents are calculated by dividing the current account balance by the closing market price of SLM common stock on the specified date.

F3: Represents share equivalents of SLM common stock under the SLM Supplemental Thrift & Savings Plan based on the individual's actual account balance as of April 30, 2013. Share equivalents are calculated by dividing the current account balance by the closing market price of SLM common stock on the specified date.