ITEM 8.01 OTHER EVENTS.

On October 27, 2020, SLM Corporation, a Delaware corporation (the "Company"), issued a press release announcing the commencement of a tender offer (the "Tender Offer") to purchase up to 2,000,000 shares of its Floating Rate Non-Cumulative Preferred Stock, Series B, par value $0.20 per share (the "Securities"). The consideration for each Security tendered and accepted for purchase pursuant to the Tender Offer will equal $45, plus accrued and unpaid dividends, if any. The Tender Offer will expire on November 24, 2020 at 11:59 p.m., New York City time, unless the Company extends it.

Attached as Exhibit 99.1, and incorporated by reference herein, is a copy of the Company's press release dated October 27, 2020 related to the Tender Offer.

Tender Offer Statement

The Tender Offer has not yet commenced. This communication is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any shares of the Securities. On the commencement date of the Tender Offer, a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and related materials, will be filed with the Securities and Exchange Commission (the "SEC") by the Company. The solicitation and offer to buy shares of the Securities will only be made pursuant to the offer to purchase, the letter of transmittal and the related materials that the Company will file as part of the Schedule TO. Holders of the Securities should carefully read those materials when they are available because they will contain important information, including the various terms and conditions of the Tender Offer. Neither the Company nor its directors make any recommendation as to whether to tender shares. Shareholders may obtain free copies, when available, of the tender offer statement on Schedule TO, the offer to purchase, the letter of transmittal and the related materials that will be filed by the Company with the SEC at the commission's website at www.sec.gov. Once the Tender Offer is commenced, holders of the Securities also may obtain a copy of these documents, without charge, from the information agent for the Tender Offer.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.



(d) Exhibits
    Exhibit
    Number              Description

      99.1                Sallie Mae - Press      Release     -     October 2    7    , 2020

      104               Cover Page Interactive Data File (formatted as Inline XBRL)

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