424B3

SLM Corporation

Medium Term Notes, Series B

LOGO

With Maturities of 9 Months or More from Date of Issue

 

Registration No. 333-107132         
Filed Pursuant to Rule 424(b)(3)         
Pricing Supplement No. 602   

Trade Date:

    2/12/2007   
(To Prospectus dated January 5, 2005 and Prospectus Supplement dated January 5, 2005)   

Issue Date:

    2/15/2007   
The date of this Pricing Supplement is    2/12/2007      

 

CUSIP

    Stated
Interest
Rate
Per 1
Annum		    Maturity
Date		   

Price
to
Public

2 3

   Discounts &
Commissions		   Interest Payment    Survivor’s
Option		    Subject to Redemption    Aggregate
Principal
Amount		   

Net

Proceeds

   

OID

Status

             Frequency    First
Payment		       Yes/No   

Date

and

terms

of redemption

         

78490GAG2

    N/A    03/15/2010    100%   0.400%   Quarterly4    03/15/07    No    No       11,566,000    11,519,736.00    N

 

Floating Rate
Index

   

Spread

   

Reset

Period
4

   

Accrual Method

   

Maximum
Interest Rate

   

Minimum
Interest Rate

91 Day T-Bill

    0.380%    Weekly    Actual/Actual (Payment Basis)    N/A    N/A

As of September 12, 2005 ABN AMRO Financial Services, Inc. changed its name to LaSalle Financial Services, Inc. Consequently, all references to “ABN AMRO Financial Services, Inc.” in the prospectus are amended to read “LaSalle Financial Services, Inc.”.

Effective June 30, 2005, Bear, Stearns & Co. Inc. was added as a selling agent under the SLM EdNotes program.

 

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 published 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.