Sallie Mae Completes Student LoanDeal

December 16, 2004, 1:00 a.m. EST 1 Min Read

RESTON, Va. - (12/16/04) -- Student loan giant SLM Corp., betterknown as Sallie Mae, said Tuesday it has completed the acquisitionof Seattle-based Student Loan Finance Association and its $1.7billion portfolio of student loans made in Washington, Oregon andIdaho. SLFA will become a Sallie Mae subsidiary and retain its ownbrand. Separately, Sallie Mae said it signed with NorthwestEducation Loan Association, a regional guarantor, to provide avariety of services for NELA, including the marketing of the NELAguarantee to colleges and universities in the Northwest. Sallie Maeis the nation's largest student loan provider and servicer and hasa portfolio of $98 billion of student loans.

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