Sallie Mae to Price $650-750 Million of Short Term Floating Rate Notes

Apr 12, 2001, 01:00 ET from Sallie Mae

    RESTON, Va., April 12 /PRNewswire/ -- Sallie Mae, the wholly owned
 subsidiary of USA Education, Inc. (NYSE:   SLM), today announced plans to price
 $650-750 million of Short Term Floating Rate Notes on Monday, April 16.  When
 issued, trading will begin at 8:20 a.m. Eastern Daylight Time on Tuesday,
 April 17.  Settlement of notes will be on Thursday, April 19.  The notes will
 mature on Oct. 18, 2001.  The CUSIP number is 86387THB7.
     The notes will be priced at a spread to the bond equivalent yield of the
 91-day U.S. Treasury bill.  The interest rate on the notes will be reset on
 the calendar day following each weekly U.S. Treasury bill auction.  The notes
 will be offered through a selling group managed by Sallie Mae.  The notes will
 be issued in book-entry form only, in denominations of $1,000 and in $1,000
 increments above that amount.
     Sallie Mae generally issues Short Term Floating Rate Notes each month on
 the Monday before the third Thursday of the month.  Settlement in federal
 funds occurs on the third Thursday of each month.
 
     Sallie Mae, founded 28 years ago, provides funds for educational loans,
 primarily federally guaranteed student loans originated under the Federal
 Family Education Loan Program (FFELP).  The company currently owns or manages
 more than $67 billion in student loans for more than seven million borrowers,
 and provides parents, students and educators with comprehensive information on
 the financial aid process. Through its specialized subsidiaries and divisions,
 Sallie Mae also provides an array of consumer credit loans, including those
 for lifelong learning and K-12 education, and business and technical
 outsourcing services for colleges and universities. More information is
 available at http://www.salliemae.com . Sallie Mae is a registered service
 mark of the Student Loan Marketing Association.  USA Education, Inc. and its
 subsidiaries, other than the Student Loan Marketing Association, are not
 sponsored by or agencies of the United States.
 
 

SOURCE Sallie Mae
    RESTON, Va., April 12 /PRNewswire/ -- Sallie Mae, the wholly owned
 subsidiary of USA Education, Inc. (NYSE:   SLM), today announced plans to price
 $650-750 million of Short Term Floating Rate Notes on Monday, April 16.  When
 issued, trading will begin at 8:20 a.m. Eastern Daylight Time on Tuesday,
 April 17.  Settlement of notes will be on Thursday, April 19.  The notes will
 mature on Oct. 18, 2001.  The CUSIP number is 86387THB7.
     The notes will be priced at a spread to the bond equivalent yield of the
 91-day U.S. Treasury bill.  The interest rate on the notes will be reset on
 the calendar day following each weekly U.S. Treasury bill auction.  The notes
 will be offered through a selling group managed by Sallie Mae.  The notes will
 be issued in book-entry form only, in denominations of $1,000 and in $1,000
 increments above that amount.
     Sallie Mae generally issues Short Term Floating Rate Notes each month on
 the Monday before the third Thursday of the month.  Settlement in federal
 funds occurs on the third Thursday of each month.
 
     Sallie Mae, founded 28 years ago, provides funds for educational loans,
 primarily federally guaranteed student loans originated under the Federal
 Family Education Loan Program (FFELP).  The company currently owns or manages
 more than $67 billion in student loans for more than seven million borrowers,
 and provides parents, students and educators with comprehensive information on
 the financial aid process. Through its specialized subsidiaries and divisions,
 Sallie Mae also provides an array of consumer credit loans, including those
 for lifelong learning and K-12 education, and business and technical
 outsourcing services for colleges and universities. More information is
 available at http://www.salliemae.com . Sallie Mae is a registered service
 mark of the Student Loan Marketing Association.  USA Education, Inc. and its
 subsidiaries, other than the Student Loan Marketing Association, are not
 sponsored by or agencies of the United States.
 
 SOURCE  Sallie Mae