1. Name and Address of Reporting Person
Levine, Robert R.
11600 Sallie Mae Drive
Reston, VA 20193
2. Issuer Name and Ticker or Trading Symbol
USA Education, Inc. (SLM)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
2001
5. If Amendment, Date of Original (Month/Day/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner
(X) Officer (give title below) ( ) Other (specify below)
Executive Vice President
7. 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 |2. Trans- |3. Trans- |4. Securities Acquired (A) |5. Amount of |6. Owner- |7. Nature |
| | action | action | or Disposed of (D) | Securities | ship | of In- |
| | Date | Code | | Beneficially | Form: | direct |
| | | | | Owned at | Direct | Bene- |
| | (Month/ | | | End of | (D) or | ficial |
| | Day/ | +-----------+------+----------+ Year | Indirect| Owner- |
| | Year) | |Amount |A/D |Price | | (I) | ship |
+---------------------------------+----------+-------------+-----------+------+----------+----------------+-----------+------------+
Common Stock 12/18/2001 G -95 D $81.8000 D
Common Stock 12/19/2001 G -1200 D $81.9900 97049 D
Common Stock 3961.3 I By Thrift and
Savings Plan
TABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
+-------------+--------+----------+---------+-----------+---------------------+----------------+----------+--------+-------+-------+
|1. |2. |3. |4. |5. |6. |7. |8. |9. |10. |11. |
| | | | | | | | |Number |Owner- | |
| | | | | | | | |of |ship | |
| | | | | | | | |Deriv- |Form of| |
| | | | | | |Title and Amount| |ative |Deriv- | |
| | | | | | |of Underlying | |Secur- |ative |Nature |
| |Conver- | | |Number of | |Securities | |ities |Secur- |of |
| |sion or | | |Derivative |Date Exercisable +-------+--------+ |Benefi- |ity: |In- |
| |Exercise| | |Securities |and Expiration Date | |Amount | |cially |Direct |direct |
| |Price of|Transac- |Transac- |Acquired(A)|(Month/Day/Year) | |or | |Owned |(D) or |Bene- |
|Title of |Deriv- |tion Date |tion Code|Disposed(D)+----------+----------+ |Number |Price of |at End |In- |ficial |
|Derivative |ative |(Month/ | +-----+-----+Date Exer-|Expira- | |of |Derivative|of |direct |Owner- |
|Security |Security|Day/Year) | |(A) |(D) |cisable |tion Date |Title |Shares |Security |Year |(I) |ship |
+-------------+--------+----------+---------+-----+-----+----------+----------+-------+--------+----------+--------+-------+-------+
Stock Options $60.5 01/15/2001 A 12500 01/15/2011 Common 125000 $60.5000 125000 D
(Right to buy) 0 Stock
Stock Options $65.95 05/15/2001 A 78611 05/15/2002 08/13/2007 Common 78611 $65.9500 78611 D
(Right to buy) Stock
Stock Options $66.59 05/09/2001 A 15457 05/09/2002 08/13/2007 Common 15457 $66.5900 15457 D
(Right to buy) Stock
Stock Options $67.6 05/23/2001 A 25649 05/23/2002 08/13/2007 Common 25649 $67.6000 25649 D
(Right to buy) Stock
Stock Options $70.87 02/16/2001 A 13523 02/16/2002 01/23/2007 Common 13523 $70.8700 13523 D
(Right to buy) Stock
Stock Options $79 07/26/2001 A 53164 07/26/2002 01/13/2010 Common 53164 $79.0000 53164 D
(Right to buy) Stock
Phantom Stock $0 12/31/2001 A 18.93 Common 2033.93 $0.0000 2033.93 D
Units Stock
Explanation of Responses:
Includes shares acquired under the 401k Plan.
These options become exercisable upon the Company's common stock having a
closing price on the New York Stock Exchange of $45.60, for five days, they also
become exercisable on the fifth anniversary of the grant (June 14, 2005), but no
sooner than one year from the grant date.
Conversion or Exercise Price of Derivative Security is 1 to 1.
Phantom Stock Units accrued under the Supplemental 401k Plan are to be settled
in cash and/or the Company's common stock upon the reporting person's retirement
from the company.
SIGNATURE OF REPORTING PERSON
/s/Mary F. Eure (POA)
DATE
02/14/2002
