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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
 <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): November&nbsp;27, 2013 </B></P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>SLM CORPORATION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact
name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>001-13251</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>52-2013874</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>300 Continental Drive, Newark, Delaware</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>19713</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (302)&nbsp;283-8000 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>ITEM&nbsp;8.01&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>OTHER EVENTS. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SLM Corporation (the &#147;Company&#148;) is retrospectively revising its
historical financial statements to account for discontinued operations in connection with Accounting Standards Codification (ASC) 205-20, &#147;Presentation of Financial Statements&#151;Discontinued Operations,&#148; due to the anticipated filing of
a Form 10 registration statement in connection with the Company&#146;s previously announced separation into two separate publicly traded companies. This retrospective revision to account for discontinued operations would have been done in any event
in connection with the presentation of the Company&#146;s historical financial statements in the upcoming Form 10-K for the fiscal year ending December 31, 2013. As previously disclosed, on May&nbsp;7, 2013, the Company announced the sale of
substantially all of the assets of the Company&#146;s Campus Solutions business to Higher One Holdings, Inc. in an all cash transaction that contributed approximately $0.08 to both GAAP and core earnings per share for the second quarter 2013.
Additionally, on September&nbsp;25, 2013, the Company announced that it had entered into a definitive agreement with Ascensus, Inc. to divest the Company&#146;s 529 college savings plan administration business. Upon the transaction&#146;s closing,
which is anticipated to occur in the fourth-quarter 2013, the Company will recognize gain of approximately $0.14 to both GAAP and core earnings per share for the fourth-quarter 2013. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In compliance with ASC 205-20, the Company classified the operating results of the Campus Solutions business as discontinued operations for
each of the periods presented in its Quarterly Reports on Form 10-Q for the quarterly periods ended June&nbsp;30, 2013 and September&nbsp;30, 2013. Additionally, as a result of the pending sale of 529 college savings plan administration business,
the Company classified the operating results of its 529 college savings plan administration business as discontinued operations for the periods presented in its Quarterly Report on Form 10-Q for the quarterly period ended September&nbsp;30, 2013.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The exhibits to this Current Report on Form 8-K update the following items in the Company&#146;s Annual Report on Form 10-K for the year
ended December&nbsp;31, 2012 (the &#147;2012 Form 10-K&#148;) to reflect, retrospectively, the changes resulting from the discontinued operations discussed above for all periods presented: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Item&nbsp;6. Selected Financial Data; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Item&nbsp;7. Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Item&nbsp;8. Financial Statements and Supplementary Data (including revisions to Note 1 &#150; Organization and Business, Note 2 &#150; Significant Accounting Policies, Note 5 &#150; Goodwill and Acquired Intangible
Assets, Note 10 &#150; Earnings (Loss) Per Common Share, Note 12 &#150; Restructuring Activities, Note 15 &#150; Income Taxes, Note 16 &#150; Segment Reporting, Note 17 &#150; Discontinued Operations and Note 19 &#150; Quarterly Financial
Information (unaudited)). </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All other information in the 2012 Form 10-K remains unchanged and has not been otherwise updated
for events occurring after December&nbsp;31, 2012, other than certain reclassifications made to the balances as of and for the years ended December 31, 2012, 2011 and 2010, to be consistent with classifications adopted for 2013, which had no effect
on net income, total assets or total liabilities. The information in this Current Report on Form 8-K should be read in conjunction with the 2012 Form 10-K and the subsequent Quarterly Reports on Form 10-Q for the quarterly periods ended
March&nbsp;31, 2013,&nbsp;June&nbsp;30, 2013 and September&nbsp;30, 2013. </P>

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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>ITEM&nbsp;9.01&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>FINANCIAL STATEMENTS AND EXHIBITS. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Exhibits </P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:26.20pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit<BR>Number</P></TD>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Description</P></TD></TR>


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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;12.1*</TD>
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<TD VALIGN="top">Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends.</TD></TR>
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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;23.1*</TD>
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<TD VALIGN="top">Consent of KPMG LLP.</TD></TR>
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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;23.2*</TD>
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<TD VALIGN="top">Consent of PricewaterhouseCoopers LLP.</TD></TR>
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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;99.1*</TD>
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<TD VALIGN="top">Selected Financial Data, Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations and Financial Statements and Supplementary Data, recast for discontinued operations for the fiscal years ended
December&nbsp;31, 2012, 2011, and 2010 (which supersedes Part II, Item&nbsp;6, Item&nbsp;7 and Item&nbsp;8, respectively, of the 2012 Form 10-K filed with the Securities and Exchange Commission on February&nbsp;26, 2013).</TD></TR>
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<TD VALIGN="top" NOWRAP>101.&nbsp;INS</TD>
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<TD VALIGN="top">XBRL Instance Document.</TD></TR>
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<TD VALIGN="top" NOWRAP>101.&nbsp;SCH</TD>
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<TD VALIGN="top">XBRL Taxonomy Extension Schema Document.</TD></TR>
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<TD VALIGN="top" NOWRAP>101.&nbsp;CAL</TD>
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<TD VALIGN="top">XBRL Taxonomy Extension Calculation Linkbase Document.</TD></TR>
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<TD VALIGN="top" NOWRAP>101. DEF</TD>
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<TD VALIGN="top">XBRL Taxonomy Extension Definition Linkbase Document.</TD></TR>
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<TD VALIGN="top" NOWRAP>101. LAB</TD>
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<TD VALIGN="top">XBRL Taxonomy Extension Label Linkbase Document.</TD></TR>
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<TD VALIGN="top" NOWRAP>101. PRE</TD>
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<TD VALIGN="top">XBRL Taxonomy Extension Presentation Linkbase Document.</TD></TR>
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<TD ALIGN="left" VALIGN="top">Filed herewith. </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"><B>SLM CORPORATION</B></TD></TR>
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<TD VALIGN="top">Date: November 27, 2013</TD>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Joseph A. DePaulo</TD></TR>
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<TD VALIGN="top">Joseph A. DePaulo</TD></TR>
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<TD VALIGN="bottom">Executive Vice President &#150; Banking and Finance</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:26.20pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Number</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Description</P></TD></TR>


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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;12.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends.</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;23.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Consent of KPMG LLP.</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;23.2*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Consent of PricewaterhouseCoopers LLP.</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;99.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Selected Financial Data, Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations and Financial Statements and Supplementary Data, recast for discontinued operations for the fiscal years ended
December&nbsp;31, 2012, 2011, and 2010 (which supersedes Part II, Item&nbsp;6, Item&nbsp;7 and Item&nbsp;8, respectively, of the 2012 Form 10-K filed with the Securities and Exchange Commission on February&nbsp;26, 2013).</TD></TR>
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<TD VALIGN="top" NOWRAP>101. INS</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">XBRL Instance Document.</TD></TR>
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<TD VALIGN="top" NOWRAP>101.&nbsp;SCH</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">XBRL Taxonomy Extension Schema Document.</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>101.&nbsp;CAL</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">XBRL Taxonomy Extension Calculation Linkbase Document.</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>101.&nbsp;DEF</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">XBRL Taxonomy Extension Definition Linkbase Document.</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>101.&nbsp;LAB</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">XBRL Taxonomy Extension Label Linkbase Document.</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>101.&nbsp;PRE</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">XBRL Taxonomy Extension Presentation Linkbase Document.</TD></TR>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Filed herewith. </TD></TR></TABLE>
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[{"type": "8-K", "sequence": "1", "filename": "d620753d8k.htm", "description": "8K", "secsgml_size_bytes": 26476}]
{"company-data": {"conformed-name": "SLM CORP", "cik": "0001032033", "assigned-sic": "6141", "irs-number": "522013874", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13251", "film-number": "131248094"}, "business-address": {"street1": "300 CONTINENTAL DRIVE", "city": "NEWARK", "state": "DE", "zip": "19713", "phone": "(302) 283-8000"}, "mail-address": {"street1": "300 CONTINENTAL DRIVE", "city": "NEWARK", "state": "DE", "zip": "19713"}, "former-company": [{"former-conformed-name": "SALLIE MAE", "date-changed": "20020517"}, {"former-conformed-name": "USA EDUCATION INC", "date-changed": "20000801"}, {"former-conformed-name": "SLM HOLDING CORP", "date-changed": "19970203"}]}
8K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 27, 2013
SLM CORPORATION
(Exact
name of registrant as specified in its charter)
Delaware
001-13251
52-2013874
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
300 Continental Drive, Newark, Delaware
19713
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (302) 283-8000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01
OTHER EVENTS.
SLM Corporation (the "Company") is retrospectively revising its
historical financial statements to account for discontinued operations in connection with Accounting Standards Codification (ASC) 205-20, "Presentation of Financial Statements—Discontinued Operations," due to the anticipated filing of
a Form 10 registration statement in connection with the Company's previously announced separation into two separate publicly traded companies. This retrospective revision to account for discontinued operations would have been done in any event
in connection with the presentation of the Company's historical financial statements in the upcoming Form 10-K for the fiscal year ending December 31, 2013. As previously disclosed, on May 7, 2013, the Company announced the sale of
substantially all of the assets of the Company's Campus Solutions business to Higher One Holdings, Inc. in an all cash transaction that contributed approximately $0.08 to both GAAP and core earnings per share for the second quarter 2013.
Additionally, on September 25, 2013, the Company announced that it had entered into a definitive agreement with Ascensus, Inc. to divest the Company's 529 college savings plan administration business. Upon the transaction's closing,
which is anticipated to occur in the fourth-quarter 2013, the Company will recognize gain of approximately $0.14 to both GAAP and core earnings per share for the fourth-quarter 2013.
In compliance with ASC 205-20, the Company classified the operating results of the Campus Solutions business as discontinued operations for
each of the periods presented in its Quarterly Reports on Form 10-Q for the quarterly periods ended June 30, 2013 and September 30, 2013. Additionally, as a result of the pending sale of 529 college savings plan administration business,
the Company classified the operating results of its 529 college savings plan administration business as discontinued operations for the periods presented in its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2013.
The exhibits to this Current Report on Form 8-K update the following items in the Company's Annual Report on Form 10-K for the year
ended December 31, 2012 (the "2012 Form 10-K") to reflect, retrospectively, the changes resulting from the discontinued operations discussed above for all periods presented:
•
Item 6. Selected Financial Data;
•
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations; and
•
Item 8. Financial Statements and Supplementary Data (including revisions to Note 1 – Organization and Business, Note 2 – Significant Accounting Policies, Note 5 – Goodwill and Acquired Intangible
Assets, Note 10 – Earnings (Loss) Per Common Share, Note 12 – Restructuring Activities, Note 15 – Income Taxes, Note 16 – Segment Reporting, Note 17 – Discontinued Operations and Note 19 – Quarterly Financial
Information (unaudited)).
All other information in the 2012 Form 10-K remains unchanged and has not been otherwise updated
for events occurring after December 31, 2012, other than certain reclassifications made to the balances as of and for the years ended December 31, 2012, 2011 and 2010, to be consistent with classifications adopted for 2013, which had no effect
on net income, total assets or total liabilities. The information in this Current Report on Form 8-K should be read in conjunction with the 2012 Form 10-K and the subsequent Quarterly Reports on Form 10-Q for the quarterly periods ended
March 31, 2013, June 30, 2013 and September 30, 2013.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
Exhibit
Number
Description
12.1*
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends.
23.1*
Consent of KPMG LLP.
23.2*
Consent of PricewaterhouseCoopers LLP.
99.1*
Selected Financial Data, Management's Discussion and Analysis of Financial Condition and Results of Operations and Financial Statements and Supplementary Data, recast for discontinued operations for the fiscal years ended
December 31, 2012, 2011, and 2010 (which supersedes Part II, Item 6, Item 7 and Item 8, respectively, of the 2012 Form 10-K filed with the Securities and Exchange Commission on February 26, 2013).
101. INS
XBRL Instance Document.
101. SCH
XBRL Taxonomy Extension Schema Document.
101. CAL
XBRL Taxonomy Extension Calculation Linkbase Document.
101. DEF
XBRL Taxonomy Extension Definition Linkbase Document.
101. LAB
XBRL Taxonomy Extension Label Linkbase Document.
101. PRE
XBRL Taxonomy Extension Presentation Linkbase Document.
*
Filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
SLM CORPORATION
Date: November 27, 2013
By:
/s/ Joseph A. DePaulo
Joseph A. DePaulo
Executive Vice President – Banking and Finance
EXHIBIT INDEX
Exhibit
Number
Description
12.1*
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends.
23.1*
Consent of KPMG LLP.
23.2*
Consent of PricewaterhouseCoopers LLP.
99.1*
Selected Financial Data, Management's Discussion and Analysis of Financial Condition and Results of Operations and Financial Statements and Supplementary Data, recast for discontinued operations for the fiscal years ended
December 31, 2012, 2011, and 2010 (which supersedes Part II, Item 6, Item 7 and Item 8, respectively, of the 2012 Form 10-K filed with the Securities and Exchange Commission on February 26, 2013).
101. INS
XBRL Instance Document.
101. SCH
XBRL Taxonomy Extension Schema Document.
101. CAL
XBRL Taxonomy Extension Calculation Linkbase Document.
101. DEF
XBRL Taxonomy Extension Definition Linkbase Document.
101. LAB
XBRL Taxonomy Extension Label Linkbase Document.
101. PRE
XBRL Taxonomy Extension Presentation Linkbase Document.
*
Filed herewith.