Sallie Mae 2001 Annual Report Download

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The Faces of SallieMae
SLM Corporation Summary Annual Report 2001
USA Education, Inc., will change its name to SLM Corporation effective May 17, 2002.

Table of contents

  • Page 1
    The Faces of SallieMae SLM Corporation Summary Annual Report 2001 USA Education, Inc., will change its name to SLM Corporation effective May 17, 2002.

  • Page 2
    ... Sallie Mae's comprehensive, Web-based resource for college-bound students. The award-winning site offers guidance on how to select the right college and prepare for and finance a college education. It also features interactive tools and checklists to demystify the world of financial aid. "The site...

  • Page 3
    ...were going to pay for it. Although they both received scholarships from the Georgia school, there was still a gap. Their father suggested Sallie Mae and they applied for Sallie Mae's private loan, the Signature Education Loan®. "We didn't know if we would qualify," says Mike. "But Sallie Mae worked...

  • Page 4
    ...the university, but she needed a combination of loans to make up the difference. "Without financial aid, I would have had to transfer to a different school," says Burton, who worked several jobs during her college career. Sallie Mae loans supplemented the funds from her scholarship. "Sallie Mae made...

  • Page 5
    ... University of California. He funded his education through a combination of loans, including loans from Sallie Mae. Last year, he hit the jackpot-winning Sallie Mae's TrueCareers Sweepstakes , held monthly through the Company's Web site. TrueCareersâ„¢ offers online career guidance and job listings...

  • Page 6
    ... ITT Technical Institute in Indianapolis, Indiana, and is on the honors list. She works as a receptionist during the day and attends school in the evenings. Her Sallie Mae loan, combined with a grant from the school, makes it possible financially. Says Banks: "My family has been extremely supportive...

  • Page 7
    ... in computer science. His entire undergraduate education was funded by Sallie Mae loans; his MBA degree is being funded by his employer. "I was relieved of financial worries while I was in school, and I was confident that when I graduated, I'd have no problem starting my career in the IT industry...

  • Page 8
    ...opening the doors to education. We accomplish this challenge by participating in every aspect of the student loan process. From making unprecedented investments in technology, to providing superior customer service, to developing innovative business solutions, everything Sallie Mae does is connected...

  • Page 9
    ... customers: schools and borrowers. What hasn't changed, however, is our mission: to make education accessible and affordable for all Americans at all times in their lives. Sallie Mae's outstanding sales and operations teams contributed, in countless ways, to Sallie Mae's performance in 2001. Members...

  • Page 10
    ... 2002. Effective Integration. Sallie Mae's successes of 2001 resulted in large part from the value inherent in the 2000 USA Group transaction and effective integration of their activities. We believe we have blended the talent and dedication of our new workforce. Our customers report that we passed...

  • Page 11
    ... our customers and our employees live and work. Our philanthropic arm, The Sallie Mae Fund, undertook the launch of "First in My Family," an effort designed to encourage young Hispanic-Americans to be first in their family to go to college. Also, we created the Sallie Mae 911 Education Fund shortly...

  • Page 12
    ...education affordable and accessible to all Americans at all times of their lives. We thank you for your support of this mission, and we hope that you find this report to be of interest. Albert L. Lord Vice Chairman & Chief Executive Officer Thomas J. Fitzpatrick President & Chief Operating Officer...

  • Page 13
    ...98 99 00 01 97 98 99 00 01 2001 Financial Highlights (Dollars in millions, except share and per share amounts) Increase (decrease) 2001 2000 % December 31, On-balance sheet student loans Off-balance sheet student loans Managed student loans Years ended December 31, Pro-forma "core cash...

  • Page 14
    ...336 _____ $48,791,788 _____ 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. *USA Education, Inc., will change its name to SLM Corporation effective May 17, 2002. 12

  • Page 15
    ... $ 3.06 _____ 163,158 _____ 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. *USA Education, Inc., will change its name to SLM Corporation effective May 17, 2002. 13

  • Page 16
    ... on such sales and subsequent servicing and securitization revenues are eliminated from net income. In addition, the effects of floor income, certain gains and losses on sales of investment securities and student loans, certain integration charges, the amortization and changes in market value of...

  • Page 17
    .... Management monitors the periodic "core cash basis" earnings of the Company's managed student loan portfolio and believes that they assist in a better understanding of the Company's student loan business. *USA Education, Inc., will change its name to SLM Corporation effective May 17, 2002. 15

  • Page 18
    ... Student Loan Marketing Association (SLMA) (GovernmentSponsored Enterprise) Loan Purchases Sallie Mae Education Trust Education Loans SLM Funding Corporation Securitization Nellie Mae Corporation Education Loans Student Loan Funding Resources LLC Education Loans Education One Group, Inc. (Bank...

  • Page 19
    ... CONSULTING Sallie Mae Servicing L.P. Student Assistance Corporation Third-Party Default Aversion Pioneer Credit Recovery, Inc. Noel-Levitz Enrollment and Retention Expertise Guarantee Servicing Education Debt Services, Inc. Loan Servicing General Revenue Corporation Corporate Entity...

  • Page 20
    .... Edward A. Fox Chairman Sallie Mae President and Chief Executive Officer (1973-1990). Dean of the Amos Tuck School of Business Administration at Dartmouth College (1990-1994). Mr. Fox serves as Trustee of the University of Maine system, and Board Member and President of the American Ballet Theatre...

  • Page 21
    ...Price School of Business University of Oklahoma Pat Williams Senior Fellow Center for the Rocky Mountain West University of Montana ‡ Marie V. McDemmond President Norfolk State University Presidential appointees Sallie Mae Senior Management Albert L. Lord Vice Chairman & Chief Executive Officer...

  • Page 22
    ...2002. USA Education, Inc.* Annual Meeting The annual meeting of shareholders will be held on Thursday, May 16, 2002, at 10:00 a.m. EST, at the Sallie Mae headquarters office, 11600 Sallie Mae Drive, Reston, VA 20193. The Company's 2001 Form 10-K, as filed with the Securities and Exchange Commission...

  • Page 23
    ... 11600 Sallie Mae Drive Reston, VA 20193 703 810-3000 www.salliemae.com Investor Relations Jeffrey R. Heinz Managing Director 703 810-7751 By facsimile: 703 810-5074 Corporate Secretary Mary F. Eure Associate General Counsel 703 810-7785 By facsimile: 703 810-6005 Stock Transfer Agent The Bank...

  • Page 24
    www.salliemae.com SLM Corporation 11600 Sallie Mae Drive Reston, Virginia 20193