Pricing Supplement No. 7 dated February 12, 2003
(to Prospectus dated November 18, 2002
and Prospectus Supplement dated November 18, 2002)		 Filed under Rule 424(b)(3)
File No. 333-90316

SLM Corporation
Medium Term Notes, Series A
Due 9 Months or Longer From the Date of Issue

Principal Amount:    $500,000,000   Floating Rate Notes:    o   Fixed Rate Notes:    ý

Original Issue Date:
February 20, 2003
 
Closing Date: February 20, 2003
 
CUSIP Number: 78442F AN8

Maturity Date:
March 17, 2008
 
Option to Extend
Maturity:
ý    No
 
Specified Currency: U.S. Dollars
      o    Yes    
    If Yes, Final Maturity
Date:		      
Redeemable at the option of the Company:   ý    No   Redemption Price:   Not Applicable.
    o    Yes   Redemption Price:   Not Applicable.
Repayment at the option of the Holder::   ý    No   Redemption Price:   Not Applicable.
    o    Yes   Redemption Price:   Not Applicable.
Applicable to Fixed Rate Notes Only:
Interest Rate: 3.625%   Interest Payment Dates: Each March 17th and September 17thduring the term of the Notes, subject to adjustment in accordance with the following business day convention, beginning September 17, 2003.
Interest Accrual Method: 30/360   Interest Periods: From and including the Closing Date, or each March 17th or September 17th thereafter, as the case may be, to and including the next succeeding March 16th or September 16th, as the case may be, with no adjustment to period end dates for accrual purposes.

__________________________________

Banc of America Securities LLC   Salomon Smith Barney
Joint Book-Running Managers

__________________________________

Banc One Capital Markets, Inc.
    Credit Suisse First Boston
                JPMorgan
            Merrill Lynch &Co.
                Morgan Stanley
                    Wachovia Securities

February 12, 2003

Form:   Book-entry.

Denominations:
 
$1,000 minimum and integral multiples of $1,000 in excess thereof.

Trustee:
 
JPMorgan Chase Bank, formerly known as The Chase Manhattan Bank.

Agents:
 
The following agents are acting as underwriters in connection with this issuance.

 
 
Agents
 
Principal Amount of Notes

 
 
Banc of America Securities LLC
 
$187,501,000
    Salomon Smith Barney Inc.     187,501,000
    Banc One Capital Markets, Inc.       20,833,000
    Credit Suisse First Boston LLC       20,833,000
    J.P. Morgan Securities Inc.       20,833,000
    Merrill Lynch, Pierce, Fenner & Smith Incorporated       20,833,000
    Morgan Stanley & Co. Incorporated       20,833,000
    Wachovia Securities, Inc.       20,833,000
       
            Total   $500,000,000

Issue Price:
 
99.699%.

Agents' Commission:
 
0.350%.

Proceeds to Issuer:
 
99.349%

Net Proceeds:
 
$496,745,000.

Concession:
 
0.250%.

Reallowance:
 
0.125%.

CUSIP Number:
 
78442F AN8

ISIN Number:
 
US78442F AN87

Obligations of SLM Corporation and any subsidiary of SLM Corporation are not guaranteed
by the full faith and credit of the United States of America. Neither SLM Corporation nor
any subsidiary of SLM Corporation (other than Student Loan Marketing Association) is a
government-sponsored enterprise or an instrumentality
of the United States of America.