Sallie Mae 2003 Annual Report Download - page 3

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Letter from the Chairman
Nearly 31 years ago, Sallie Mae was
conceived under government sponsor-
ship to deliver on the promise of access
to higher education for all Americans.
Today, education finance is a thriving
industry and Sallie Mae, near the finish
line of privatization, is its leader.
No company is better positioned in
the higher education marketplace to
provide all of the financing and service
needs of schools. No company is better
equipped with a range of products to
meet all the life stages of education
credit. No company can match the
training and dedication of our sales
and service associates. And no company
in our industry has the history and
achievement of Sallie Mae.
As I look back over 2003, I see a
year of great accomplishment and
progress at Sallie Mae. Our financial
accomplishments are highlighted in
this report and in our 10-K, but in
short, 2003 was our best loan delivery
year to date—both in volume and in
the service we delivered to customers.
It also was Sallie Mae’s best sales year,
with our core brands growing at a
remarkable rate. And, it was our best
financing year. Indeed, we are closing
in on full privatization, an achievement
that fills me—the very first employee
of Sallie Mae—with great pride.
In 2003, Sallie Mae’s employees
served our customers—schools,
borrowers, lenders and guarantors—
more effectively and efficiently,
thereby helping more students
pursue a college education.
Our employees are truly the Sallie
Mae story. It is why we chose to
highlight them in this year’s annual
report, along with the support that
they provide to our valued customers.
These individuals, often far from the
spotlight, dedicate their energies and
talents to serving our customers every
day. And it is through the trusted rela-
tionships they build with our clients
that not only Sallie Mae succeeds, but
students and families succeed as well.
As this report makes clear—whether
it is a school, a student, a government
agency or a guarantor—we stand
behind our customers.
Thank you for your continued confi-
dence in Sallie Mae.
EDWARD A. FOX
CHAIRMAN OF THE BOARD
Edward A. Fox
CHAIRMAN OF THE BOARD
As the lucky person with the longest tenure at Sallie
Mae, my perspective is shaped by more than three
rewarding decades with this unique company. While
no amount of experience provides a crystal ball into
the future, I can say with great confidence that we
are at perhaps our most important crossroads—full
privatization and the opportunities it presents.
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