Sallie Mae 2010 Annual Report Download - page 2

FORWARD-LOOKING AND CAUTIONARY STATEMENTS
This report contains forward-looking statements and information based on management’s current expecta-
tions as of the date of this document. Statements that are not historical facts, including statements about our
beliefs or expectations and statements that assume or are dependent upon future events, are forward-looking
statements. Forward-looking statements are subject to risks, uncertainties, assumptions and other factors that may
cause actual results to be materially different from those reflected in such forward-looking statements. These
factors include, among others, the risks and uncertainties set forth in Item 1A “Risk Factors” and elsewhere in
this Annual Report on Form 10-K; increases in financing costs; limits on liquidity; increases in costs associated
with compliance with laws and regulations; any adverse outcomes in any significant litigation to which we are a
party; credit risk associated with our exposure to third parties, including counterparties to our derivative
transactions; and changes in the terms of student loans and the educational credit marketplace (including changes
resulting from new laws and the implementation of existing laws). We could also be affected by, among other
things: changes in our funding costs and availability; reductions to our credit ratings; failures of our operating
systems or infrastructure, including those of third-party vendors; damage to our reputation; failures to
successfully implement cost-cutting and restructuring initiatives and adverse effects of such initiatives on our
business; changes in the demand for educational financing or in financing preferences of lenders, educational
institutions, students and their families; changes in law and regulations with respect to the student lending
business and financial institutions generally; increased competition from banks and other consumer lenders; the
creditworthiness of our customers; changes in the general interest rate environment, including the rate
relationships among relevant money-market instruments and those of our earning assets versus our funding
arrangements; changes in general economic conditions; and changes in the demand for debt management
services. The preparation of our consolidated financial statements also requires management to make certain
estimates and assumptions including estimates and assumptions about future events. These estimates or
assumptions may prove to be incorrect. All forward-looking statements contained in this report are qualified by
these cautionary statements and are made only as of the date of this document. We do not undertake any
obligation to update or revise these forward-looking statements to conform the statement to actual results or
changes in our expectations.
Definitions for capitalized terms used in this document can be found in the “Glossary” at the end of this
document.
AVAILABLE INFORMATION
The Securities and Exchange Commission (“SEC”) maintains an Internet site (http://www. sec.gov) that
contains periodic and other reports such as annual, quarterly and current reports on Forms 10-K, 10-Q and
8-K, respectively, as well as proxy and information statements regarding SLM Corporation and other
companies that file electronically with the SEC. Copies of our annual reports on Form 10-K, quarterly reports
on Form 10-Q and other periodic reports are available on our website as soon as reasonably practicable after
we electronically file such reports with the SEC. Investors and other interested parties can also access these
reports at www.salliemae.com/about/investors.
Our Code of Business Conduct, which applies to Board members and all employees, including our
Chief Executive Officer and Chief Financial Officer, is also available, free of charge, on our website at
www.salliemae.com/about/business_code. htm. We intend to disclose any amendments to or waivers from our
Code of Business Conduct (to the extent applicable to our Chief Executive Officer or Chief Financial Officer)
by posting such information on our website.
In 2010, we submitted the annual certification of our Chief Executive Officer regarding our compliance
with the NYSE’s corporate governance listing standards, pursuant to Section 303A.12 (a) of the NYSE Listed
Company Manual.
In addition, we filed as exhibits to our annual reports on Form 10-K for the years ended December 31,
2008 and 2009 and to this Annual Report on Form 10-K, the certifications required under Section 302 of the
Sarbanes-Oxley Act of 2002.
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