Form 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. 566       Trade Date:    9/18/2006
(To Prospectus dated January 5, 2005 and       Issue Date:    9/21/2006
Prospectus Supplement dated January 5, 2005)         
The date of this Pricing Supplement is    9/18/2006      

 

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		      

78490FZS1

   N/A   12/15/2009   100%   0.500%   Monthly 4   10/15/06   No   No     15,026,000   14,950,870.00   N

 

Floating Rate Index

    Spread   Reset
Period4		   

Accrual Method

    Maximum
Interest Rate		    Minimum
Interest Rate

*CPI

    2.100%   Monthly    Actual/Actual (Payment Basis)    N/A    0.000%

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.

 

* During the initial interest period which is from the Issue Date to but not including 10/15/2006, the interest rate will be 6.42%, then the Consumer Price Index (CPI) plus 2.10% 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 EdNotes 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 Determination Date, which is on the 15th day of each month during the terms of the notes beginning on 10/15/2006, the Calculation Agent will establish the new rate as described on page S-16 in the prospectus supplements.