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. 606   

Trade Date:

    2/26/2007   
(To Prospectus dated January 5, 2005 and Prospectus Supplement dated January 5, 2005)   

Issue Date:

    3/1/2007   
The date of this Pricing Supplement is    2/26/2007      

 

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		         

78490GAL1

    N/A    03/15/2010    100%   0.450%   Quarterly 4    03/15/07    No    No       1,395,000    1,388,722.50    N

 

Floating Rate Index

    Spread     Reset
Period 4		    Accrual Method    Maximum
Interest Rate		    Minimum
Interest
Rate

91 Day T-Bill

    0.380 %   Weekly    Actual/Actual (Payment Basis)    N/A    N/A

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.

 

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 published 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.