Exhibit 99.1


NEWS RELEASE
 
 
FOR IMMEDIATE RELEASE
 

SALLIE MAE REPORTS FOURTH-QUARTER AND FULL-YEAR 2015 FINANCIAL RESULTS
Diluted Earnings Per Share Up 40 Percent Year-over-Year
Full-Year Private Education Loan Originations of $4.3 Billion
Private Education Loan Portfolio Grows to $10.5 Billion, Up 28 Percent Year-over-Year

NEWARK, Del., Jan. 20, 2016
 — Sallie Mae (NASDAQ: SLM), formally SLM Corporation, today released fourth-quarter 2015 and full-year 2015 financial results. In 2015, the company increased diluted earnings per share 40 percent year-over-year to $.59 (including $.20 attributable to gains on sales of loans), grew private education loan originations 6 percent to $4.3 billion, and expanded its private education loan portfolio size 28 percent to $10.5 billion, all compared to 2014.
“We met or exceeded all of our goals in 2015, our first full year of operation. Even more gratifying, we helped 333,000 students make college happen. With infrastructure investments and service enhancements in place to improve our customers’ experience, we are better positioned than ever to serve families as they save, plan, and pay for college, and remain on an upward growth trajectory,” said Raymond Quinlan, chairman and CEO. “Concerns about capital market conditions and regulatory issues continue to weigh on our market valuation. We strongly believe those concerns are exaggerated and will clear up over the course of 2016.”
For the fourth-quarter 2015, GAAP net income was $90 million, up from $20 million in the year-ago quarter. GAAP net income attributable to the company's common stock was $85 million ($.20 diluted earnings per share) in the fourth-quarter 2015, up from $15 million ($.03 diluted earnings per share) in the year-ago quarter. The year-over-year increase was primarily attributable to a $37-million increase in net interest income, a $58-million increase in gains on sales of loans, and a $4-million decrease in total expenses, which were offset by a $30-million increase in income tax expense.
For 2015, GAAP net income was $274 million, up from $194 million in 2014. GAAP net income attributable to the company's common stock was $255 million ($.59 diluted earnings per share) in 2015, up from $181 million ($.42 diluted earnings per share) in 2014.
Fourth-quarter 2015 results vs. fourth-quarter 2014 included:
Private education loan originations of $575 million, up 3 percent.
Net interest income of $188 million, up 25 percent.
Net interest margin of 5.48 percent, up 47 basis points.
Average private education loans outstanding of $10.6 billion, up 31 percent.
Average yield on the private education loan portfolio was 7.84 percent, down 23 basis points.
Private education loan provision for loan losses was $29 million, down from $30 million.
Loans in forbearance were 3.4 percent of private education loans in repayment and forbearance.
Delinquencies as a percentage of private education loans in repayment were 2.2 percent.
In connection with the Navient Corporation spin-off, the company changed its policy to charge off loans after 120 days of delinquency and changed its loss emergence period from two years to one year to reflect both the shorter charge-off policy and its related servicing practices. Consequently, many of the pre-spin-off, historical credit indicators and period-over-period trends are not comparable and may not be indicative of future performance.
Core earnings for the fourth-quarter 2015 were $90 million, up from $20 million in the year-ago quarter. Core earnings attributable to the company's common stock were $85 million ($.20 diluted earnings per share) in the fourth-quarter 2015, up from $15 million ($.03 diluted earnings per share) in the year-ago quarter.

1

The following information was filed by Slm Corp (SLM) on Wednesday, January 20, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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