SLM Corp — Director's Dealing 2017

May 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SLM CORP (SLM)
CIK: 0001032033
Period of Report: 2017-05-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-01	Common Stock	F	1880	$12.75	Disposed	182034	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	40846.836	Indirect
Common Stock	23847.021	Indirect

Footnotes

F1: On May 1, 2014, the reporting person was granted restricted stock units ("RSUs") representing rights to receive shares of common stock of SLM Corporation (the "Company"), subject to vesting conditions, to vest in one-third increments on May 1, 2015, 2016 and 2017. On May 1, 2017, 4,003 shares vested in connection with these RSUs, of which 1,880 shares were withheld by the Company to satisfy the reporting person's tax withholding obligations.

F2: Represents the number of units held in a unitized stock fund in the Sallie Mae 401(k) Savings Plan and the Sallie Mae Supplemental 401(k) Savings Plan as of May 1, 2017.