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

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934


                            SLM Holding Corporation
                            -----------------------
                                (Name of Issuer)

                     Common Stock, par value $.20 per share
                     --------------------------------------
                         (Title of Class of Securities)

                                    78442A109
                                    ---------
                                 (CUSIP Number)

                                  July 31, 2000
                                  -------------
             (Date of Event which Requires Filing of this Statement)

Check the  appropriate box to designate the rule pursuant to which this Schedule
is filed:

[   ]    Rule 13d-1(b)
[ X ]    Rule 13d-1(c)
[   ]    Rule 13d-1(d)


The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purposes of Section 18 of the  Securities  Exchange Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see Notes).

* The remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for  any  subsequent   amendment   containing   information  which  would  alter
disclosures provided in a prior page.


SCHEDULE 13G CUSIP No. 518439 10 4 (1) Names of Reporting Persons USA Group Foundation, Inc. I.R.S. Identification 35-1813228 Nos. of Above Persons (2) Check the Appropriate Box (a) [ ] if a Member of a Group (b) [ ] (3) SEC Use Only (4) Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With (5) Sole Voting Power 9,034,505 (6) Shared Voting Power None (7) Sole Dispositive Power 9,034,505 (8) Shared Dispositive Power None (9) Aggregate Amount Beneficially Owned by Each Reporting Person 9,034,505 (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] (11) Percent of Class Represented by Amount in Row 9 5.77% (12) Type of Reporting Person CO 2

ITEM 1. (a) Name of Issuer SLM Holding Corporation (the "Issuer") (b) Address of Issuer's Principal Executive Offices 11600 Sallie Mae Drive Reston, VA 20193 ITEM 2. (a) Name of Person Filing USA Group Foundation, Inc. (the "Company") (b) Address of Principal Business Office 30 South Meridian Street Indianapolis, IN 46204-3503 (c) Citizenship Organized in the State of Delaware (d) Title of Class of Securities This report covers the Issuer's Common Stock, par value $.20 per share. (e) CUSIP No. The CUSIP number of the Common Stock is 78442A109. 3

ITEM 3. Not applicable. ITEM 4. Ownership The Company holds 9,034,505, which represent 5.77 percent of the Common Stock. The Company has the sole power to vote and dispose of the Stock. ITEM 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. ITEM 6. Ownership of More Than Five Percent on Behalf of Another Person No person other than those described in Item 4 is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock owned by the Corporation. ITEM 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person Not applicable. ITEM 8. Identification and Classification of Members of the Group Not applicable. ITEM 9. Notice of Dissolution of the Group Not applicable. 4

ITEM 10. Certifications By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Dated: August 9, 2000 USA Group Foundation, Inc. /s/ J. David Maas ------------------------------------- By: J. David Maas 5