e424b3
 

This Pricing Supplement replaces the Pricing Supplement filed on February 6, 2003.

SLM Corporation
Medium Term Notes, Series B

With Maturities of 9 Months or More from Date of Issue

Registration No. 333-90316
Filed Pursuant to Rule 424(b)(3)

   
Pricing Supplement No. 2   Trade Date: 2/3/03
(To Prospectus dated January 23, 2003 and   Issue Date: 2/6/03
Prospectus Supplement dated January 23, 2003)    

The date of this Pricing Supplement is 2/3/03

                                                                                             
                                                                                         
    Stated Interest           Price to           Interest Payment
          
  Subject to Redemption
  Aggregate                
    Rate Per 1   Maturity   Public 2   Discounts &           First   Survivor's           Date and terms   Principal Net OID
CUSIP   Annum   Date   3   Commissions   Frequency   Payment   Option   Yes/No   of redemption   Amount Proceeds Status
 
 
 
 
 
 
 
 
 
 
 
 
78490FAC3
     *Step       3/15/13       100 %     1.500 %   Semi     09/15/03     Yes   yes   Callable at 100% on 3/15/2006 and continuously thereafter with 5 days notice.     7,842,000       7,724,370.00    
N

*   3.25% for the first 3 years, 6.50% thereafter
     
1 
   The interest rates on the EdNotes 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.