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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. 47 (To Prospectus dated January 23, 2003 and Prospectus Supplement dated January 23, 2003) |
Trade Date: 4/7/03 Issue Date: 4/10/03 |
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The date of this Pricing Supplement is 4/7/03 |
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Interest Payment |
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Subject to Redemption |
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Stated Interest Rate Per Annum1 |
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| CUSIP |
Maturity Date |
Price to Public2 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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| 78490FBY4 | *Step | 6/15/14 | 100% | 1.500% | Semi | 6/15/03 | Yes | Yes | Callable at 100% beginning on 6/15/06 and continuously thereafter with 5 business days notice | 1,805,000 | 1,777,925.00 | N | ||||||||||||
* 4.00% until but not including 6/15/06 and 5.15% thereafter payable beginning 12/15/06
- 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 – PRICING SUPPLEMENT NO. 47