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. 597   

Trade Date:

    1/29/2007   

(To Prospectus dated January 5, 2005 and Prospectus

Supplement dated January 5, 2005)

   

Issue Date:

    2/1/2007   
The date of this Pricing Supplement is    1/29/2007      

 

CUSIP

    Stated
Interest
Rate
Per
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

         

78490GAB3

    N/A    03/15/2010    100%   0.500%   Monthly4    02/15/07    No    No       411,000    408,945.00    N

 

Floating Rate Index

    Spread    Reset
Period4		   

Accrual Method

    Maximum
Interest Rate		    Minimum
Interest Rate

*CPI

    2.800%    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 02/15/2007, the interest rate will be 4.77%, then the Consumer Price Index (CPI) plus 2.80% 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 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 Determination Date, which is on the 15th day of each month during the terms of the notes beginning on 02/15/2007, the Calculation Agent will establish the new rate as described on page S-16 in the prospectus supplements