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SLM Corporation (NASDAQ: SLM), widely known as Sallie Mae, is a leading financial services company in the United States, specializing in saving, planning, and paying for college education. Founded with the mission to provide students and families with tools to achieve their educational goals, Sallie Mae offers a range of products and services aimed at promoting responsible personal finance.
Sallie Mae's core business revolves around private education loans, catering to students who need financial assistance beyond federal loan programs. As the largest student lender in the nation, the company plays a pivotal role in the education financing sector, making and holding student loans through both the guaranteed Federal Family Education Loan Program and private channels.
In addition to their loan services, Sallie Mae provides valuable financial planning tools and resources. These include the Upromise rewards program, which offers cashback on everyday purchases to help families save for college, and a comprehensive scholarship search tool designed to aid students in finding additional funding opportunities. The company also runs college savings programs that encourage families to start planning for education costs early.
Moreover, Sallie Mae engages in debt-management operations, offering accounts receivable and collections services to support effective financial management. Their online retail banking services further extend their commitment to fostering financial literacy and responsibility among their customers.
Recent achievements highlight Sallie Mae's ongoing dedication to innovation and customer service. The company has launched several new initiatives to enhance user experience and streamline the loan application process. Financially, Sallie Mae remains robust, demonstrating consistent performance through strategic partnerships and a diversified portfolio of services.
Despite common misconceptions, SLM Corporation and its subsidiaries operate independently and are not sponsored by or agencies of the United States government. This independence allows Sallie Mae to tailor its products and services to better meet the needs of its clientele.
For those seeking the latest updates and relevant information about Sallie Mae's performance, events, and developments, staying informed through their official website and news releases is highly recommended. Learn more about their offerings and latest news at salliemae.com.
This spring, colleges are sending financial aid offers to students who submitted the Free Application for Federal Student Aid (FAFSA), outlining the aid they may qualify for. A study indicates that only 25% of families found these offers easy to understand. To assist families, Sallie Mae provides tips to evaluate these offers, such as organizing information, understanding the terminology, and negotiating for better aid. Remarkably, 67% of families who appealed for more aid last year received additional support. For more details, visit SallieMae.com/FinancialAidOffers.
Sallie Mae (Nasdaq: SLM) announced its annual meeting of stockholders is set for June 8, 2021, at 1 p.m. ET, to be held virtually. Stockholders of record as of April 12, 2021, will have access. Details will follow in the proxy statement to be filed with the SEC in late April. As a leader in private student lending, Sallie Mae aims to provide financial support and resources for education, contributing to lifelong learning and goal achievement.
Sallie Mae (Nasdaq: SLM) is amending its tender offer to buy up to $1 billion of its common stock. The revised offer price is now set between $14.40 and $16.50 per share, an increase from the previous range of $13.10 to $15.00. The expiration date for the offer is extended to March 10, 2021. Stockholders who have already tendered shares do not need to take further action unless they wish to change their tender. As of Feb. 24, 2021, approximately 194 shares have been tendered. The offer is not contingent on financing or a minimum number of shares being tendered.
Sallie Mae (Nasdaq: SLM) announced that CEO Jon Witter will present at the Credit Suisse Financial Services Forum on Friday, Feb. 26, at 8 a.m. ET. The event will be held virtually, with a live audio webcast and presentation slides available for viewers. As a leader in private student lending, Sallie Mae emphasizes the importance of education and lifelong learning, providing financing options to help students access college and achieve their goals.
Sallie Mae (Nasdaq: SLM) has initiated a tender offer to repurchase up to $1 billion in its common stock, with per-share prices ranging from $13.10 to $15.00. Utilizing a modified Dutch auction format, shareholders can select their desired selling price within this range. The offer aims to enhance shareholder value and liquidity. The offer will expire at 12 a.m. ET on March 2, 2021, unless extended. This initiative aligns with Sallie Mae's commitment to capital allocation and rapid execution of its share repurchase strategy.
Sallie Mae (Nasdaq: SLM) released its fourth-quarter and full-year 2020 financial results, showcasing key highlights. Details can be found in the attached supplement. The financial results are available on their investor site. An earnings conference call is scheduled for January 28, 2021, at 8 a.m. ET, where executives will discuss the quarter's performance. Investors can access the call or a replay through the provided dial-in numbers. Sallie Mae continues to emphasize its role as a leader in private student lending, supporting education and lifelong learning.
Sallie Mae (Nasdaq: SLM) announced a first-quarter dividend for 2021 of $0.4798125 per share on its Preferred Stock Series B and $0.03 for common stock. Both dividends will be payable on March 15, 2021, to stockholders of record by March 5, 2021. The company emphasizes its commitment to education and lifelong learning, providing private student lending to support access to college and beyond. This dividend declaration reflects the company's ongoing commitment to shareholder returns and its confidence in its financial stability.
Sallie Mae (Nasdaq: SLM) has appointed Kerri Palmer as the new Chief Risk and Compliance Officer. Palmer, a seasoned professional with over 20 years in risk management, joins from Capital One, where she was a senior vice president. She succeeds Jeff Dale, who held the position since 2014. CEO Jonathan Witter emphasized the importance of strong risk and compliance functions for the company’s success and expressed confidence in Palmer's ability to drive strategic alignment. Palmer holds degrees from Wheaton College and Texas A&M University.
The Sallie Mae Fund has launched the Bridging the Dream Scholarship Program in partnership with the Thurgood Marshall College Fund, committing $1 million annually for three years. This program targets minority students and those from marginalized backgrounds, aiming to assist nearly 900 recipients in accessing and completing college. The initiative includes three scholarship categories: $10,000 for high school seniors, up to $2,500 for at-risk college students, and $10,000 for graduate students. This is part of Sallie Mae's $4.5 million investment in educational equity.
Sallie Mae (Nasdaq: SLM) will announce its fourth-quarter and full-year 2020 financial results on January 27, 2021, after market close. A conference call is scheduled for January 28, 2021, at 8 a.m. ET, with dial-in options for participants. The live audio webcast and presentation slides will be available on their investor website, with a replay accessible afterward until February 11, 2021. Sallie Mae continues to be a leader in private student lending, providing resources for achieving educational goals.
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