THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

SLM Corporation (SLM)

4/10/2006 Proxy Information

Indebtedness

One of the CorporationÕs subsidiaries, Sallie Mae Home Loans, Inc., is in the business of mortgage lending. Through this subsidiary, Ms. McCormack received a 15-year fixed rate mortgage loan in February 2006 on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transaction with other persons. The loan did not involve more than the normal risk of collectibility or present other unique features.

Certain Relationships and Related-Party Transactions

During 2005, Thomas J. Fitzpatrick, III, son of Mr. Fitzpatrick, was employed by a Corporation subsidiary as a regional sales manager and received a base salary of $44,808 and commissions of $109,622, for total compensation of $154,430 for his services during the year.

On October 27, 2005, the Corporation, upon the approval of the Board of Directors, agreed to sell a coach bus to Mr. Lord for the purchase price of $288,800. The purchase price is the fair market value for the coach bus as determined by Bus Solutions of McMinnville, Oregon, an independent appraisal company that specializes in bus and coach valuations. The sale closed in the first quarter of 2006.

4/11/2005 Proxy Information

Except for Mr. Lord and Mr. Fitzpatrick, no nominee is a current officer of the Corporation or any of its subsidiaries. Mr. Hunt was an officer of the CorporationÕs predecessor entity, the Student Loan Marketing Association (also referred to as the ŌGSEĶ), more than 14 years ago. There are no family relationships among the nominees and the executive officers of the Corporation.

During 2004, Thomas J. Fitzpatrick, III, son of Mr. Fitzpatrick, was employed by a Corporation subsidiary as an educational account executive and received a base salary of $40,000 and commissions of $84,480, for total compensation of $124,480 for his services during the year.

On May 11, 2004, the Corporation purchased 200,000 shares of SLM common stock from Mr. Lord at a purchase price of $38.42 per share. The purchase price was the lower of the stockÕs average weighted price and closing price on May 11, 2004. The shares sold by Mr. Lord were acquired through the exercise of stock options that were granted at the fair market value of Sallie Mae common stock on the date of grant.

4/4/2004 Proxy Information

During 2003, Thomas J. Fitzpatrick, III, son of Mr. Fitzpatrick, was employed by a Corporation subsidiary as an educational account executive and received a base salary of $40,000 and commissions of $51,278.87, totaling $91,278.87 for his services during the year.

4/3/2003 Proxy Information

Except for Mr. Lord and Mr. Fitzpatrick, no nominee is a current officer of the Corporation or any of its subsidiaries. Mr. Fox and Mr. Hunt were formerly officers of the GSE longer than 10 years ago. There are no family relationships among the nominees and the executive officers of the Corporation. During 2002, Thomas J. Fitzpatrick, III, son of Mr. Fitzpatrick, was employed by a Corporation subsidiary as an educational account executive and received a base salary of $30,000 and commissions of $77,422, totaling $107,422 for his services during the year.