SLM Corporation is a holding company. The Company's primary business is to originate and service loans it makes to students and their families to finance the cost of their education. The Company is a saving, planning and paying for education company. It is engaged in originating and servicing Private Education Loans it makes to students and their families. It uses Private Education Loans to mean education loans to students or their families that are not made, insured or guaranteed by any state or federal government. It also operates Upromise, Inc., a consumer savings network that provides financial rewards on everyday purchases to help families save for college. Its Private Education Loans are made primarily to bridge the gap between the cost of higher education and the amount funded through financial aid, government loans and customers' resources. The Company's Private Education Loans that it owns or services are originated and funded by its subsidiary, Sallie Mae Bank (the Bank).