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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 19, 2006

SLM CORPORATION
(Exact name of registrant as specified in its charter)

DELAWARE (State or other jurisdiction of incorporation)

File No. 333-130584 (Commission File Number)

52-2013874 (IRS Employer Identification Number)

12061 Bluemont Way, Reston, Virginia 20190
(Address of principal executive offices) (zip code)

Registrant's telephone number, including area code: (703) 810-3000

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 8.01 Other Events

        On October 1, 2006, JPMorgan Chase Bank, National Assocation transferred its corporate trust business with SLM Corporation to The Bank of New York. A certificate documenting the transfer is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

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SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		SLM CORPORATION
		By:		/s/  C.E. ANDREWS
				Name: C.E. Andrews Title: Chief Financial Officer

Dated: October 20, 2006

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SLM CORPORATION
Form 8-K
CURRENT REPORT
EXHIBIT INDEX

Exhibit No.		Description
99.1		Certificate dated October 1, 2006

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Exhibit 99.1

CERTIFICATE

     This certificate is furnished to SLM Corporation, formerly known as USA Education, Inc. (the “Company”), in connection with the Indenture, dated as of October 1, 2000, as amended or supplemented (the “Indenture”), between the Company and JPMorgan Chase Bank, National Association, formerly known as JPMorgan Chase Bank and The Chase Manhattan Bank (the “Original Trustee”), relating to the issuance from time to time of Medium Term Notes, Series A, under the Indenture.

     Section 7.09 of the Indenture provides that if the trustee under the Indenture transfers all or substantially all of its corporate trust business assets to another corporation, such successor corporation, without any further act, shall be the successor trustee under the Indenture. The Original Trustee transferred all or part of its corporate trust business to The Bank of New York, as successor trustee under the Indenture (the “Successor Trustee”), effective as of October 1, 2006. Accordingly, the Original Trustee and Successor Trustee hereby certify to the Company as follows:

     1.      The Original Trustee transferred all or part of its corporate trust business to the Successor Trustee, effective as of October 1, 2006, and the Successor Trustee became the successor trustee under the Indenture as of such date.

     2.      Section 11.02(a) (Notices) of the Indenture should read as follows:

     (a)  Any notice or communication by the Company or the Trustee is duly given if in writing and delivered in person, sent by facsimile or mailed by certified mail:

if to the Company to:

SLM Corporation 12061 Bluemont Way Reston, VA 20190 Attention: Treasurer

if to the Trustee to:

The Bank of New York 101 Barclay Street – 8 West New York, New York 10286 Attention: Corporate Trust Administration Facsimile No. 212-623-6166

 

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     IN WITNESS WHEREOF, each of the JPMorgan Chase Bank, National Association, and The Bank of New York have caused this Certificate be duly executed and delivered to SLM Corporation as of October 11, 2006.

		JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Original Trustee
		By:   /s/ Thomas J. Foley       Name: Thomas J. Foley Title: Vice President
		THE BANK OF NEW YORK, not in its individual capacity, but solely as Successor Trustee
		By:    /s/ Jeremy Finkelstein       Name: Jeremy Finkelstein Title: Assistant Vice President