Pricing Supplement No. 3 dated December 10, 2002
(to Prospectus dated November 18, 2002
and Prospectus Supplement dated November 18, 2002)		   Filed under Rule 424(b)(3)
File No. 333-90316

SLM CORPORATION
Medium Term Notes, Series A
Due 9 Months or Longer From the Date of Issue

Principal Amount:   $50,000,000   Floating Rate Notes:   ý   Fixed Rate Notes:   o
Original Issue Date:   December 16, 2002   Closing Date: December 16, 2002   CUSIP Number:   78442F AJ7
Maturity Date:   December 9, 2005   Option to Extend
Maturity:		   ý No
o Yes		   Specified Currency:   U.S. Dollars

 
 
 
 
If Yes, Final Maturity Date:
 
 
 
 
 
 

Redeemable at the option of the Company:   ý No   Redemption Price:   Not Applicable.
    o Yes   Redemption Dates:   Not Applicable.
Repayment at the option of the Holder::   ý No   Repayment Price:   Not Applicable.
    o Yes   Repayment Dates:   Not Applicable.

Applicable to Floating Rate Notes Only:    
Floating Rate Index:    
                  o CD Rate   Index Maturity: Three Months.
                  o Commercial Paper Rate    
                  o CMT Rate   Spread: Plus 19 basis points (0.19%).
                  o Federal Funds Rate    
                  ý LIBOR Telerate   Initial Interest Rate: TBD.
                  o LIBOR Reuters    
                  o Prime Rate   Interest Rate Reset Period: Quarterly.
                  o 91-Day Treasury Bill Rate    
Reset Date(s):   Each March 15th, June 15th, September 15th and December 15th during the term of the Notes, subject to adjustment in accordance with the following business day convention, beginning March 17, 2003.   Interest Payment Date(s):   Each March 15th, June 15th, September 15th and December 15th during the term of the Notes, subject to adjustment in accordance with the following business day convention, beginning March 17, 2003.
Interest Determination Date:   2 London and New York Business Days prior to the related Reset Date.   Interest Period:   From and including the previous Interest Payment Date (or Original Issue Date, in the case of the first Interest Accrual Period) to but excluding the current Interest Payment Date (or Maturity Date, in the case of the last Interest Accrual Period).
Lock-in Period Start Date:   Not Applicable.   Accrual Method:   Actual/360.
Maximum Interest Rate:   Not Applicable.   Minimum Interest Rate:   Not Applicable.

JPMorgan

December 10, 2002

MTN 0024

Form:   Book-entry.

Denominations:
 
$1,000 minimum and integral multiples of $1,000 in excess thereof.

Trustee:
 
JPMorgan Chase Bank, formerly known as The Chase Manhattan Bank.

Agent:
 
J.P. Morgan Securities Inc. is acting as underwriter for this isssuance.

Issue Price:
 
100.0%.

Agents' Commission:
 
0.05885%.

Concession:
 
0.00%.

Reallowance:
 
0.00%.

Net Proceeds:
 
$49,970,575.00

CUSIP Number:
 
78442F AJ7

ISIN Number:
 
US78442F AJ75

Obligations of SLM Corporation and any subsidiary of SLM Corporation are not guaranteed by
the full faith and credit of the United States of America. Neither SLM Corporation nor any subsidiary of
SLM Corporation (other than Student Loan Marketing Association) is a government-sponsored enterprise or an
instrumentality of the United States of America.

December 10, 2002

MTN 0024