SLM Corporation
Medium Term Notes, Series B
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. 402 (To Prospectus dated January 5, 2005 and Prospectus Supplement dated January 5, 2005) |
Trade Date: 3/7/2005 Issue Date: 3/10/2005 |
The date of this Pricing Supplement is 3/7/2005
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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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| 78490FSZ3 | N/A | 3/15/2015 | 100% | 2.00% | Monthly | 04/15/05 | No | No | 14,463,000 | 14,173,740.00 | N | |||||||||||||
| Floating Rate Index |
Spread |
Reset Period(4) |
Accrual Method |
Maximum Interest Rate |
Minimum Interest Rate |
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| *CMT | 0.00% | Monthly | 30/360 | N/A | 4% |
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- The interest rate will be 10 year CMT x .80
(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 Determination Date, which is two Business Days prior to each Reset Date, the Calculation Agent will establish the new rate based on the index rate as published in H.15 (519).