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SLM Corporation
Medium Term Notes, Series B
With Maturities of 9 Months or More from Date of Issue
Registration No. 333-90316
Filed Pursuant to Rule 424(b)(3)
| Pricing Supplement No. 225 | Trade Date: | 3/1/2004 | ||
| (To Prospectus dated January 23, 2003 and | Issue Date: | 3/4/2004 | ||
| Prospectus Supplement dated January 23, 2003) |
The date of this Pricing Supplement is 3/1/2004
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Interest Payment |
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Subject to Redemption |
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| CUSIP |
Stated Interest Rate Per Annum(1) |
Maturity Date |
Price to Public(2)(3) |
Discounts & Commissions |
Frequency |
First Payment |
Survivor's Option |
Yes/No |
Date and terms of redemption |
Aggregate Principal Amount |
Net Proceeds |
OID Status |
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| 78490FKK4 | FLOAT | 6/15/2009 | 100% | 0.750% | Quarterly(4) | 06/15/04 | No | No | 4,919,000 | 4,882,107.50 | N | |||||||||||||
| Floating Rate Index |
Spread |
Reset Period(4) |
Accrual Method |
Maximum Interest Rate |
Minimum Interest Rate |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 91 Day T-Bill | 0.600% | Weekly | Actual/Actual (Payment Basis) | N/A | N/A |
Effective April 7, 2003 the name of Salomon Smith Barney Inc., an agent of the program, was changed to Citigroup Global Markets Inc.
- (1)
- The interest rates on the Ed Notes may be changed by SLM Corporation from time to time, but any such change will not affect the interest rate on any Ed Notes offered prior to the effective date of the change.
- (2)
- Expressed as a percentage of aggregate principal amount.
- (3)
- See "Supplemental Plan of Distribution" in the Prospectus supplement for additional information concerning price to public and underwriting compensation.
- (4)
- On
the Interest Reset Date, which is the day after the 3 month T Bill auction, the Calculation Agent will establish the new rate based on the BEY for the 3 month T Bill auction
pulished in H.15 (http://www.publicdebt.treas.gov/of/ofrespr.htm).
In the event that the results of the 91 day Treasury Bill auction ceases to be published or reported, or that no auction is held in a particular week, then the rate in effect as a result of the last such report will remain in effect until such time, as the results of auctions of 91 day Treasury Bills will again be published.
SLM Corporation Medium Term Notes, Series B