SLM Corporation or Sallie Mae as it is commonly known is a publicly funded U.S corporation whose functions include originating, servicing, and collecting on student loans. Simply put, this corporation helps students in paying for their graduate and undergraduate programs. The corporation started in 1972 and primarily provides loans originated under the Federal Family Education Loan Program (FFELP).

• SLM or Student Loan Marketing association was created as a Government Sponsored Enterprise (GSE); however in the year till 2004, it had severed all ties with the U.S government. Still Sallie Mae remains one of the biggest originator of federally insured student loans. Not only does this corporation provide loans to students, it also provides debt management services, and other financial products to universities and colleges.
• Sallie Mae has many other subsidiaries and it acquired Upromise in 2006 and started to provide rebates to some brands which could be applied to student loans. Together Upromise and Sallie Mae plan to provide comprehensive financial aid to students and parents throughout the United States. However Sallie Mae also helps students to lead an independent and financially healthy life after they have completed college. It does this through its debt management services and by offering credit, insurance and other related products.
• The company also helps families save for college through 529 college savings plans and through its Upromise savings program. Through its subsidiaries, the company handles $180 billion in education loans and caters to the need of 10 million student and parent clients. Through its Upromise associate, the corporation also supervises over $17.5 billion in 529 college-savings plans, and is a key, private resource of college funding assistance in America with 10 million affiliates and more than $475 million in member rewards.
• Sallie Mae and its subsidiaries offer debt management services in addition to commercial and technical products to a range of commercial consumers, together with higher education establishments, student loan guarantors and state and federal agencies. It also provides loans to schools including dental schools, medical schools, law schools, and business schools. Some of the loans provided by Sallie Mae are Graduate PLUS loans, Stafford loans, Sallie Mae Bar study loan, and Sallie Mae Smart Option student loans.
• Sallie Mae is also involved in many charitable drives and operates The Sallie Mae fund that aims to increase access to higher education in the United States. It also organizes many events which help in raising funds for causes such as cancer support and hurricane relief. However, Sallie Mae has been criticized by many for racial discrimination and a class action lawsuit was filed regarding the same.
• References and further reading: Wikipedia.org, salliemae.com.

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