Sallie Mae, formally known as SLM Corporation, is a financial services company based in the United States that specializes in education loans. Founded in 1972, the company's headquarters are located in Newark, Delaware. Sallie Mae originated as a government-sponsored enterprise (GSE) established under the Higher Education Act of 1965.

Initially, the company's primary purpose was to provide federal student loans to aspiring college students. However, in 2004, after legislation eliminated the federal government's role in originating student loans, Sallie Mae transitioned into a private company. Currently, Sallie Mae offers an array of products and services in the education finance industry.

Its main offerings include private education loans, college savings plans, scholarship search tools, loan repayment options, and banking services. The company aims to facilitate access to higher education by providing financing solutions to students and families. Sallie Mae's operations primarily focus on the United States.

However, it has expanded its presence internationally through partnerships with lenders in countries such as Canada and the United Kingdom. These agreements allow Sallie Mae to extend its loan offerings to students studying outside of the United States. In terms of its market position, Sallie Mae is one of the largest originators of student loans in the United States.

It operates under the two business segments: Consumer Banking and Business Services. The Consumer Banking segment focuses on student loans and banking services, while Business Services includes loan servicing, debt management, and collection activities. Over the years, Sallie Mae has undergone various changes and developments.

In 2014, the company split into two separate entities, with Navient Corporation becoming responsible for loan servicing, while Sallie Mae continued to originate new loans. This reorganization aimed to enhance efficiency and improve customer experience. As of the latest available information, Sallie Mae is considered a leading provider of student loans, serving millions of borrowers.

The company continues to adapt to market demands and regulatory changes to meet the evolving needs of students seeking higher education