SLM Corporation Floating Rate Non-Cumulative Preferred Stock Series B (SLMBP)
Summary
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SLM Corporation Floating Rate Non-Cumulative Preferred Stock Series B Profile
| Financial Services Industry | Financials Sector | Jonathan W. Witter CEO | NASDAQ (NGS) Exchange | 78442P502 CUSIP |
| US Country | 1,710 Employees | 4 Jun 2026 Last Dividend | 1 May 2014 Last Split | 5 Jan 1988 IPO Date |
Overview
SLM Corporation, originally known as New BLC Corporation, underwent a name change in December 2013 and has since been operating under its current name. Founded in 1972, this company has established its headquarters in Newark, Delaware. SLM Corporation specializes in offering financial services primarily within the education sector of the United States. It plays a significant role in facilitating the financing of higher education for students and their families through the origination and servicing of private education loans. The company's operations are aimed at easing the financial burden of education costs, thus making it more accessible to a broader audience.
Products and Services
- Private Education Loans
SLM Corporation's core service revolves around the provision of private education loans. These loans are specifically designed to help students and their families cover the full cost of higher education. By offering various loan options, SLM Corporation enables borrowers to find financial solutions that best match their educational needs and repayment capabilities.
- Retail Deposit Accounts
Aside from its education loan services, SLM also offers a variety of retail deposit accounts. These include:
- Certificates of Deposit: These are timed deposit accounts that offer a fixed interest rate over a specific period, ideal for customers looking for a secure investment option.
- Money Market Accounts: Offering more flexibility than CDs, these accounts provide both a reasonable interest rate and easier access to funds.
- High-Yield Savings Accounts: For customers aiming to maximize their savings' growth, SLM offers high-yield savings accounts with competitive interest rates.
- Interest-Bearing Omnibus Accounts
SLM Corporation also offers interest-bearing omnibus accounts. These accounts are typically used by financial advisors or firms to manage the funds of multiple clients under a single account. This offering denotes SLM's capability to provide solutions not just for individual savings or educational financing, but also for more complex financial management needs.
