Sallie Mae 2014 Annual Report Download - page 3

FORWARD-LOOKING AND CAUTIONARY STATEMENTS
This Annual Report on Form 10-K contains "forward-looking" statements and information based on management’ s
current expectations as of the date of this report. Statements that are not historical facts, including statements about our beliefs,
opinions 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 and subsequent filings
with the Securities and Exchange Commission (“SEC”); increases in financing costs; limits on liquidity; increases in costs
associated with compliance with laws and regulations; changes in accounting standards and the impact of related changes in
significant accounting estimates; 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
education 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 or breaches of our operating systems or infrastructure, including those of third-party vendors;
damage to our reputation; failures or breaches to successfully implement cost-cutting and restructuring initiatives and adverse
effects of such initiatives on our business; risks associated with restructuring initiatives; 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; rates of prepayment on the loans that we make; changes in general economic conditions and our ability to
successfully effectuate any acquisitions; and other strategic initiatives. 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 Annual Report on
Form 10-K are qualified by these cautionary statements and are made only as of the date of this report. We do not undertake any
obligation to update or revise these forward-looking statements to conform such statements to actual results or changes in our
expectations.
References in this Annual Report on Form 10-K to “we,” “us,” “our” “Sallie Mae” and the “Company,” refer to SLM
Corporation and its subsidiaries, except as otherwise indicated or unless the context otherwise requires.
The financial information contained herein and in the accompanying consolidated balance sheets, statements of
income, changes in equity, and cash flows for each of the years in the three-year period ended December 31, 2014, present
information on our business as configured after the Spin-Off, as hereafter defined. For more information regarding the basis of
presentation of these statements, see notes to the consolidated financial statements, Note 2, “Significant Accounting Policies -
Basis of Presentation.”
AVAILABLE INFORMATION
Our website address is www.salliemae.com. Copies of our Annual Reports on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K, as well as any amendments to those reports, and any significant investor presentations,
are available free of charge through our website as soon as reasonably practicable after they are electronically filed with, or
furnished to, the SEC. In addition, copies of our Board Governance Guidelines, Code of Business Conduct (which includes the
code of ethics applicable to our Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer) and
the governing charters for each committee of our Board of Directors are available free of charge on our website, as well as in
print to any stockholder upon request. We intend to disclose any amendments to or waivers from our Code of Business Conduct
(to the extent applicable to our Principal Executive Officer or Principal Financial Officer) by posting such information on our
website. Information contained or referenced on our website is not incorporated by reference into and does not form a part of
this Annual Report on Form 10-K.
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