SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

LORD ALBERT L

(Last)

(First)

(Middle)

12061 BLUEMONT WAY

(Street)

RESTON

20190

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SLM CORP [ SLM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairman & CEO

3. Date of Earliest Transaction (Month/Day/Year)
12/14/2007

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/14/2007		S		100	D	$26.928	132,188	D
Common Stock	12/14/2007		S		5,101	D	$26.93	127,087	D
Common Stock	12/14/2007		S		100	D	$27.017	52,087	D
Common Stock	12/14/2007		S		100	D	$27.018	51,987	D
Common Stock	12/14/2007		S		6,100	D	$27.02	45,887	D
Common Stock	12/14/2007		S		200	D	$27.029	45,687	D
Common Stock	12/14/2007		S		500	D	$27.03	45,187	D
Common Stock	12/14/2007		S		400	D	$27.04	44,787	D
Common Stock	12/14/2007		S		200	D	$27.045	44,587	D
Common Stock								2,100	I	By Immediate Family
Common Stock	12/14/2007		S		100	D	$26.935	126,987	D
Common Stock	12/14/2007		S		200	D	$26.939	126,787	D
Common Stock	12/14/2007		S		1,500	D	$26.94	125,287	D
Common Stock	12/14/2007		S		100	D	$26.949	125,187	D
Common Stock	12/14/2007		S		7,400	D	$26.95	117,787	D
Common Stock	12/14/2007		S		100	D	$26.955	117,687	D
Common Stock	12/14/2007		S		100	D	$26.959	117,587	D
Common Stock	12/14/2007		S		1,800	D	$26.96	115,787	D
Common Stock	12/14/2007		S		600	D	$26.965	115,187	D
Common Stock	12/14/2007		S		500	D	$26.97	114,687	D
Common Stock	12/14/2007		S		1,100	D	$26.975	113,587	D
Common Stock	12/14/2007		S		100	D	$26.977	113,487	D
Common Stock	12/14/2007		S		200	D	$26.979	113,287	D
Common Stock	12/14/2007		S		15,700	D	$26.98	97,587	D
Common Stock	12/14/2007		S		800	D	$26.985	96,787	D
Common Stock	12/14/2007		S		200	D	$26.989	96,587	D
Common Stock	12/14/2007		S		6,700	D	$26.99	89,887	D
Common Stock	12/14/2007		S		34,800	D	$27	55,087	D
Common Stock	12/14/2007		S		100	D	$27.005	54,987	D
Common Stock	12/14/2007		S		2,800	D	$27.01	52,187	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

Remarks:

This is form 3 of 10 for reporting Mr. Lord's transaction from December 14, 2007.

	By: Mary F. Eure (POA)	12/18/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.