SLM

Slm Corp

A U.S. financial company that lends money to students and their families, Sallie Mae issues private loans for college, graduate school, and career training, and runs an online bank with high-yield savings accounts. It began in 1972 when Congress created the Student Loan Marketing Association to buy up government-backed student loans — the initials "SLM" eventually grew into the friendly nickname "Sallie Mae." In 2014 it spun off its loan-servicing arm into a separate company called Navient, keeping the lending and banking side for itself.