SLM Corp — Director's Dealing 2016

May 3, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2016-05-01

Reporting Person: Thome Paul F (EVP & Chief Admin Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-01	Common Stock	F	1296	$6.77	Disposed	173774	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	40837.986	Indirect
Common Stock	23847.021	Indirect

Footnotes

F1: On May 1, 2014, Mr. Thome was awarded 12,012 Restricted Stock Units ("RSUs") representing rights to receive shares of common stock of SLM Corporation (the "Company") to vest in one-third increments on May 1, 2015, 2016 and 2017. On May 1, 2016, 4,004 shares of such RSUs vested, of which 1,296 shares were withheld by the Company to satisfy Mr. Thome's tax withholding obligations.

F2: Between February 26, 2016 and April 29, 2016, Mr. Thome acquired 3.276 shares of Company common stock under the Company's 401(k) plan. The information in this report is based on a plan sponsor statement dated as of April 29, 2016.

F3: Between February 26, 2016 and April 29, 2016, Mr. Thome acquired 0.001 shares of Company common stock under the Company's Supplemental 401(k) plan. The information in this report is based on a plan sponsor statement dated as of April 29, 2016.