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SLM Corporation

Medium Term Notes, Series B

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With Maturities of 9 Months or More from Date of Issue

Registration No. 333-90316
Filed Pursuant to Rule 424(b)(3)
 Pricing Supplement No.        45		   Trade Date: 4/7/03    
(To Prospectus dated January 23, 2003 and   Issue Date: 4/10/03    
Prospectus Supplement dated January 23, 2003)        

The date of this Pricing Supplement is        4/7/03
 
 
 
 
 
    
    
    
    
  
Interest Payment
    
  
Subject to Redemption
    
    
    
CUSIP
   Stated Interest
Rate Per
Annum1
   Maturity
Date
   Price to
Public2  3
   Discounts &
Commissions
   Frequency
   First
Payment
   Survivor's
Option
   Yes/No
   Date and Terms of Redemption
   Aggregate
Principal
Amount
   Net
Proceeds
   OID
Status
78490FBV0   FLOAT   9/15/08   100%   0.750%   Quarterly4   6/15/03   Yes   No       22,805,000   22,633,962.50   N

Floating Rate Index
 
Spread
 
Reset Period4
 
Accrual Method
 
Maximum
Interest
Rate
 
Minimum
Interest
Rate
 
 
91 Day T-Bill   0.600%   Weekly   Actual/Actual (Payment Basis)   N/A   N/A    
1
The interest rates on the Ed Notes may be changed by SLM Corporation from time to time, but any such change will not affect the interest rate on any Ed Notes offered prior to the effective date of the change.
2
Expressed as a percentage of aggregate principal amount.
3
See "Supplemental Plan of Distribution" in the Prospectus supplement for additional information concerning price to public and underwriting compensation.
4
On the Interest Reset Date, which is the day after the 3 month T Bill auction, the Calculation Agent will establish the new rate based on the BEY for the 3 month T Bill auction pulished in H.15 (http://www.publicdebt.treas.gov/of/ofrespr.htm).
In the event that the results of the 91 day Treasury Bill auction ceases to be published or reported, or that no auction is held in a particular week, then the rate in effect as a result of the last such report will remain in effect until such time, as the results of auctions of 91 day Treasury Bills will again be published.


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SLM CORPORATION – PRICING SUPPLEMENT NO. 45