Sallie Mae becomes a private holding company today.
Stockholders of the government-sponsored enterprise endorsed the privatization plan, along with a slate of new directors, in a special vote last week.
The dissident shareholders' directors received 25.5 million votes, compared with outgoing management's 18.1 million, according to a final tally released Thursday. The privatization plan received 43.7 million votes, Sallie Mae said. In all, 53 million shares are outstanding.
Under the plan, Sallie Mae would retain its government ties until its student loan portfolio is run off. However, the enterprise will become a subsidiary of a new parent company, SLM Holding Corp.