Sallie Mae 2000 Annual Report Download

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Potential like never before
USA EDUCATION, INC.
SUMMARY
ANNUAL
REPORT
2000
Education leads us.

Table of contents

  • Page 1
    P o t e n t i a l li k e n e v e r b efo r e U S A E D U C AT I O N , I N C . SUMMARY A N N UA L REPORT 2000 Education leads us.

  • Page 2
    ...'99 '00 ENDING MANAGED STUDENT LOANS (dollars in billions) O P E R AT I N G E X P E N S E S * * A S % O F AV E R A G E MANAGED LOANS (percent average) 1.2 $...Basis' Consolidated Statements of Income," Page14. **Exclusive of certain one-time, non-recurring expenses incurred in the third quarter of ...

  • Page 3
    li k e n e v e r b efo r e SALLIE MAE MISSION 2000 FINANCIAL HIGHLIGHTS To make education accessible and affordable for all Americans at all times of their lives: ➣ To be the most trustworthy provider of education credit and related services to school and student customers. ➣ To be the most ...

  • Page 4
    .... In 2000, Sallie Mae evolved from a wholesale buyer of loans to a retail, one-school-at-atime service provider. This evolution allows us to better fulfill our important mission: to make education accessible and affordable for all Americans at all times of their lives. We worked to imbue a customer...

  • Page 5
    ... this maze day in and day out. They are truly higher education's unsung heroes. Albert L. Lord Vice Chairman and Chief Executive Officer In 2000, we completed our full-service retail evolution by joining forces with USA Group. Consequently, Sallie Mae Award Package: Schools send financial aid...

  • Page 6
    ... FROM THE VICE CHAIRMAN USA Funds, will benefit from Sallie Mae's growing customer base. In addition, the USA Group Foundation (recently renamed the Lumina Foundation for Education)-the seller in the transaction-will continue to serve the higher education community with $1 billion in new capital...

  • Page 7
    ... our shareholders meeting in Fishers, Indiana, home of the former USA Group and now our Servicing and Information Technology headquarters. Sincerely, Edward A. Fox Chairman of the Board Albert L. Lord Vice Chairman and Chief Executive Officer Default Collection: Loan servicers work to locate and...

  • Page 8
    ... opportunities for customers and shareholders. Among Sallie Mae's major accomplishments in 2000: the $770 million acquisition of the guarantee servicing, student loan servicing and secondary market operations of USA Group. The merging of these two industry leaders advances Sallie Mae's mission...

  • Page 9
    ...-students, schools and shareholders-but also ideally positioned the company to develop cutting-edge products and services, and a seamless channel of loan delivery. "Sallie Mae strives to be the best value possible for its customers," said Thomas J. Fitzpatrick, president and chief marketing...

  • Page 10
    ...-and-one-half-years of planning, two million staff hours of work, and eight million lines of code," said James C. Lintzenich, president and chief operating officer. "The end result: Sallie Mae can serve customers faster and more efficiently-both now and in the future." Solutions like never before

  • Page 11
    ... the student loan application, approval and disbursement processes on more than 200 college and university campuses, processing in excess of $1 billion in loan volume. Sallie Mae added several new features to this system in 2000, increasing the loan types it accommodates, expanding its reporting and...

  • Page 12
    ... 2000 was a time in which Sallie Mae took bold, new steps to diversify its products, services and systems, and to clarify and solidify its commitment to higher education. We expanded our product and service offerings with SLM Financial's Career Training LoanSM, a new funding option designed to meet...

  • Page 13
    ... planning and paying for college, Sallie Mae offers wiredscholar.comSM, a comprehensive, one-stopshop for students and parents with higher education needs. Launched in the spring of 2000, the site has become the foremost online resource for college preparation, evaluation, selection, application and...

  • Page 14
    ... 1,415,336 $48,791,788 165,000 37,214 62,827 297,735 1,462,034 2,024,810 1,183,896 840,914 $44,024,784 The financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Form 10-K to the Securities and Exchange Commission. 12

  • Page 15
    ...of student loans Gains on sales of securities Guarantor servicing fees Other Total other income Operating expenses Integration charge Income before income taxes and minority interest in net earnings of subsidiary Income taxes Minority interest in net earnings of subsidiary Net income Preferred stock...

  • Page 16
    ..., certain one-time gains on sales of investment securities and student loans, certain one-time, non-recurring expenses incurred in 1997, a one-time integration charge related to the July 2000 acquisition of USA Group and the amortization of goodwill from acquisitions also are excluded from net...

  • Page 17
    ...income, certain one-time gains on sales of investment securities and student loans, certain one-time, non-recurring expenses incurred in 1997, a one-time integration charge related to the July 2000 acquisition of USA Group and the amortization of goodwill from acquisitions also are excluded from net...

  • Page 18
    ... 6 - 2 0 0 0 USA Education, Inc. 2000 (Dollars in millions) ASSETS 1999 ...Student loans...notes Total interest bearing liabilities Non-interest bearing liabilities Stockholders' equity Total liabilities and stockholders' equity Tax equivalent net interest income and margin Average 91-day Treasury bill...

  • Page 19
    ... Financial Corp. (1984-1992). James C. Lintzenich President and Chief Operating Officer Formerly Vice Chairman and Chief Executive Officer of USA Group, Inc. (1997-2000). Serves on the board of MetroBanCorp. and Lumina Foundation for Education. William M. Diefenderfer III* President and Co-Founder...

  • Page 20
    ...Senior Vice President, Human Resources Gregory J. Clancy Executive Vice President and Chief Information Officer June M. McCormack Senior Vice President, Sales John F. Whorley Senior Vice President, Delinquency and Recovery Operations Marianne M. Keler Executive Vice President and General Counsel...

  • Page 21
    ... CST, at the USA Education, Inc. office, 11100 USA Parkway, Fishers, IN 46038. The Company's 2000 Form 10-K, as filed with the Securities and Exchange Commission, has been mailed to shareholders of record as of March 12, 2001, together with this Annual Report. Shareholders also may obtain without...

  • Page 22
    ... Mae Headquarters 11600 Sallie Mae Drive Reston, VA 20193 (703) 810-3000 www.salliemae.com Investor Relations Jeffrey R. Heinz Managing Director (703) 810-7743 By facsimile: (703) 810-5074 Corporate Secretary Mary F. Eure Associate General Counsel (703) 810-7785 By facsimile: (703) 810-6005 Stock...

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