Pricing Supplement No. 4 dated September 17, 2003
(to Prospectus dated August 6, 2003
and Prospectus Supplement dated August 6, 2003)		   Filed under Rule 424(b)(3)
File No. 333-107132

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


Principal Amount:
$1,250,000,000
 
Floating Rate Notes:
o
 
Fixed Rate Notes:
ý

Original Issue Date:
September 24, 2003
 
Closing Date: September 24, 2003
 
CUSIP Number:
78442F BG2

Maturity Date:
October 1, 2013
 
Option to Extend Maturity:
ý No
 
Specified Currency:
U.S. Dollars
      If Yes, Final Maturity Date: o Yes      
Redeemable at the option of the Company:   ý    No   Redemption Price: Not Applicable.
    o    Yes   Redemption Dates: Not Applicable.
Repayment at the option of the Holder:   ý    No   Repayment Price: Not Applicable.
    o    Yes   Repayment Dates: Not Applicable.
Applicable to Fixed Rate Notes Only:        

Interest Rate: 5.000%
 
Interest Payment Dates:
 
Each April 1st and October 1stduring the term of the Notes, beginning April 1, 2004, subject to adjustment in accordance with the following business day convention.
Interest Accrual Method: 30/360   Interest Periods:   From and including the Closing Date, or the previous April 1st or October 1st, as the case may be, to and including the next succeeding March 31st or September 30th, as the case may be, with no adjustment to period end dates for accrual purposes.
Banc of America Securities LLC   Citigroup   Morgan Stanley
Joint Book-Running Managers
Banc One Capital Markets, Inc.
Credit Suisse First Boston
Merrill Lynch & Co.		       Barclays Capital
Lehman Brothers
UBS Investment Bank
Co-Managers

September 17, 2003

MTN 0049

Form: Book-entry.      

Denominations:
$10,000 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   $ 333,333,334.00
  Citigroup Global Markets Inc.     333,333,333.00
  Morgan Stanley & Co. Incorporated     333,333,333.00
  Banc One Capital Markets, Inc.     41,666,667.00
  Barclays Capital Inc.     41,666,667.00
  Credit Suisse First Boston LLC     41,666,667.00
  Lehman Brothers Inc.     41,666,667.00
  Merrill Lynch, Pierce, Fenner & Smith Incorporated     41,666,666.00
  UBS Securities LLC     41,666,666.00
              Total   $ 1,250,000,000.00

Issue Price:
99.253%.
 
 
 

Agents' Commission:
0.450%.
 
 
 

Net Proceeds:
$1,235,037,500.
 
 
 

Concession:
0.200%.
 
 
 

Reallowance:
0.125%.
 
 
 

CUSIP Number:
78442F BG2
 
 
 

ISIN Number:
US78442F BG28
 
 
 

        An affiliate of one of the underwriters has entered into a swap transaction with the issuer in connection with the Notes.

        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.

MTN 0049