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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. 227 | 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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| 78490FKM0 | *Step | 3/15/2024 | 100% | 2.500% | Semi | 09/15/04 | No | Yes | Callable at 100% on 3/15/2009 and continuously thereafter with 20 days notice. | 2,632,000 | 2,566,200.00 | N | ||||||||||||
*5.00% until but not including 3/15/09, then 5.75% until but not including 3/15/14, then 6.50% until but not including 3/15/19, then 8.00% thereafter
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.
SLM Corporation Medium Term Notes, Series B