PRICING SUPPLEMENT NO. 4 DATED OCTOBER 31, 2002 FILED UNDER RULE 424(b)(3)
(TO PROSPECTUS DATED SEPTEMBER 13, 2002 FILE NO. 333-90316
AND PROSPECTUS SUPPLEMENT DATED SEPTEMBER 13, 2002)
SLM CORPORATION
Medium Term Notes, Series A
Due 9 Months or Longer From the Date of Issue
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Principal Amount: $500,000,000 Floating Rate Notes: / / Fixed Rate Notes: /X/
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Original Issue Date: November 7, 2002 Closing Date: November 7, 2002 CUSIP Number: 78442F AE8
Maturity Date: November 14, 2014 Option to Extend Maturity: /X/ No Specified Currency: U.S. Dollars
/ / Yes
If Yes, Final Maturity
Date:
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Redeemable at the option of the Company: /X/ No Redemption Price: Not Applicable.
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/ / Yes Redemption Dates: Not Applicable.
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Repayment at the option of the Holder: /X/ No Repayment Price: Not Applicable.
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/ / Yes Repayment Dates: Not Applicable.
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APPLICABLE TO FIXED RATE NOTES ONLY:
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Interest Rate: 5.05% Interest Payment Dates: Each May 14th and November 14th during
the term of the Notes, subject to following
business day convention, beginning
May 14, 2003.
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Interest Accrual Method: 30/360 Interest Periods: From and including the Closing Date,
or each May 14th or November 14th, as
the case may be, to and including the next
succeeding November 13th or May 13th,
as the case may be, with no adjustment to
period end dates for accrual purposes.
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BANC OF AMERICA SECURITIES LLC JPMORGAN
Joint Book Runners
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ABN AMRO INCORPORATED BANC ONE CAPITAL MARKETS, INC.
BARCLAYS CAPITAL INC. CREDIT SUISSE FIRST BOSTON
MERRILL LYNCH & CO. MORGAN STANLEY
October 31, 2002
Issue Price: 99.465%.
Agents' Commission: 0.475%.
Concession: 0.300%.
Reallowance: 0.250%.
Net Proceeds: $494,950,000.00
Form: Book-entry.
Denominations: $1,000 minimum and integral multiples of $1,000 in excess thereof.
Trustee: JPMorgan Chase Bank, formerly known as The Chase Manhattan Bank.
Agents: The following agents are acting as underwriters, on a several basis, in connection with
this issuance.
Agents Principal Amount of Notes
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Banc of America Securities LLC $ 200,002,000.00
J.P. Morgan Securities Inc. 200,002,000.00
ABN AMRO Incorporated 16,666,000.00
Banc One Capital Markets, Inc. 16,666,000.00
Barclays Capital Inc. 16,666,000.00
Credit Suisse First Boston Corporation 16,666,000.00
Merrill Lynch, Pierce, Fenner & Smith Incorporated 16,666,000.00
Morgan Stanley & Co. Incorporated 16,666,000.00
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Total $ 500,000,000.00
OBLIGATIONS OF SLM CORPORATION AND ANY SUBSIDIARY OF SLM CORPORATION ARE NOT
GUARANTEED BY THE FULL FAITH AND CREDIT OF THE UNITED STATES OF AMERICA. NEITHER
SLM CORPORATION NOR ANY SUBSIDIARY OF SLM CORPORATION (OTHER THAN STUDENT LOAN
MARKETING ASSOCIATION) IS A GOVERNMENT-SPONSORED ENTERPRISE OR AN
INSTRUMENTALITY OF THE UNITED STATES OF AMERICA.
