424B3

SLM Corporation

Medium Term Notes, Series B

LOGO

With Maturities of 9 Months or More from Date of Issue

 

Registration No. 333-107132         
Filed Pursuant to Rule 424(b)(3)         
Pricing Supplement No. 594   

Trade Date:

   1/16/2007   
(To Prospectus dated January 5, 2005 and Prospectus Supplement dated January 5, 2005)   

Issue Date:

   1/19/2007   
The date of this Pricing Supplement is    1/16/2007      

 

CUSIP

   Stated
Interest
Rate
Per 1
Annum
   Maturity
Date
   Price
to
Public
2 3
  Discounts &
Commissions
  Interest Payment    Survivor’s
Option
   Subject to Redemption   Aggregate
Principal
Amount
  

Net

Proceeds

   OID
Status
             Frequency    First
Payment
      Yes/No   

Date

and

terms

of redemption

       

78490FC80

   *Step    03/15/2027    100%   2.150%   Monthly    02/15/07    No    Yes    Callable at 100% on 3/15/2011
and Continuous thereafter with
10 NY business days notice.
  398,000    389,443.00    N

As of September 12, 2005 ABN AMRO Financial Services, Inc. changed its name to LaSalle Financial Services, Inc. Consequently, all references to “ABN AMRO Financial Services, Inc.” in the prospectus are amended to read “LaSalle Financial Services, Inc.”.

Effective June 30, 2005, Bear, Stearns & Co. Inc. was added as a selling agent under the SLM EdNotes program.

 

* 5.05% until but not including 3/15/11, then 6.50% thereafter

 

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.