Executive Change: Sallie Mae Names New Chief Credit and Lending Officers

Sallie Mae (NYSE: SLM), the nation’s leading saving- and paying-for-college company, today announced the appointment of David West as senior vice president and chief credit officer.

In this role, West will be responsible for credit risk management and will chair the company’s Credit Committee. West has over 30 years of credit and risk management experience in commercial and retail banking. Previously, he served for 11 years in senior credit and risk management positions at MBNA and Bank of America.

The company also announced that Jack Hewes, who joined the company in March 2008 as executive vice president and chief credit officer, has been appointed chief lending officer. In this role, he will take lead responsibility over the company’s loan pricing, underwriting review, collection activities and portfolio management.

SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, is the nation’s leading provider of saving- and paying-for-college programs. The company manages nearly $172 billion in education loans and serves 10 million student and parent customers. Through its Upromise affiliates, the company also manages more than $19 billion in 529 college-savings plans, and is a major, private source of college funding contributions in America with 9 million members and $450 million in member rewards. Sallie Mae and its subsidiaries offer debt management services as well as business and technical products to a range of business clients, including higher education institutions, student loan guarantors and state and federal agencies. More information is available at www.salliemae.com. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.