Form 424b3

SLM Corporation

Medium Term Notes, Series B

LOGO

With Maturities of 9 Months or More from Date of Issue

 

Registration No. 333-107132         
Filed Pursuant to Rule 424(b)(3)         
Pricing Supplement No.565       Trade Date:    9/18/2006
(To Prospectus dated January 5, 2005 and       Issue Date:    9/21/2006
Prospectus Supplement dated January 5, 2005)         
The date of this Pricing Supplement is    9/18/2006      

 

CUSIP    Stated
Interest Rate Per 1
Annum
  Maturity
Date
   Price to
Public
2 3
  Discounts &
Commissions
  Interest Payment    Survivor’s
Option
   Subject to
Redemption
  

Aggregate

Principal
Amount

   Net
Proceeds
   OID
Status
            Frequency    First
Payment
      Yes/No   

Date and
terms of
redemption

        
78490FZU6    6.000%   12/15/2026    100%   2.250%   Monthly    10/15/06    No    Yes    Callable at 100% on 12/15/2010 and Continuous thereafter with 10 NY business days notice    3,673,000    3,590,357.50    N

As of September 12, 2005 ABN AMRO Financial Services, Inc. changed its name to LaSalle Financial Services, Inc. Consequently, all references to “ABN AMRO Financial Services, Inc.” in the prospectus are amended to read “LaSalle Financial Services, Inc.”.

Effective June 30, 2005, Bear, Stearns & Co. Inc. was added as a selling agent under the SLM EdNotes program.

 

1 The interest rates on the Ed Notes may be changed by SLM Corporation from time to time, but any such change will not affect the interest rate on any Ed Notes offered prior to the effective date of the change.
2 Expressed as a percentage of aggregate principal amount.
3 See “Supplemental Plan of Distribution” in the Prospectus supplement for additional information concerning price to public and underwriting compensation.