[April 16, 2018]

Governor Carney, Senators Carper and Coons, and Representative Blunt Rochester Celebrate Sallie Mae's Commitment to Add New Jobs in Delaware

Governor John Carney, Senators Tom Carper and Chris Coons, and Representative Lisa Blunt Rochester, along with community members and local officials, today joined Sallie Mae Chairman and CEO Raymond Quinlan and Sallie Mae employees to cut the ribbon for the company's newest office and celebrate a commitment of nearly 300 new jobs to the First State.

The new office, located at 86 Christiana Road in New Castle, will be home to more than 500 jobs for the company, which currently employs nearly 900 in Delaware. Sallie Mae invested $8.4 million to expand operations beyond its Newark, Delaware, headquarters, including renovation, construction, technology, and talent to enhance the customer experience. The new office will accommodate credit, fraud prevention, and collections departments, with positions expected to generate $28.3 million in annual salary and benefits.

"Delaware has a lot to offer businesses looking to grow and thrive - from a talented and dedicated workforce, to an ideal location and quality of life that's second to none," said Governor Carney. "Sallie Mae's continued investment in our state reaffirms the fact that Delaware remains a great place for any company - large or small - to put down roots and create jobs. We're pleased to help celebrate this expansion."

As part of this growth, Sallie Mae renovated and equipped the 57,000-square-foot space at 86 Christiana Road and relocated some operations from its headquarters earlier this year. The company relied on local contractors to completely update and modernize the new facility. The space includes 515 workstations, multiple conference and training rooms, and a full-service cafeteria and breakroom - including an arcade - and fitness center for its growing team. More than 325 employees already work at the new facility. The company plans to add 285 more jobs at its headquarters and Christiana Road facility by 2020.

"We welcome Sallie Mae's second location in Delaware," said Senator Carper. "Senators, governors, and representatives don't create jobs - we create a nurturing environment for job growth and job creation. Sallie Mae recognizes Delaware is a great place to do business and I'm looking forward to seeing them continue to grow and thrive here."

"Delaare has an excellent workforce and business environment that is ideally suited to the financial service sector, and I am pleased to hear the news from Sallie Mae CEO Raymond Quinlan on their new office space in Delaware and the nearly 300 jobs they are going to create," said Senator Coons. "We appreciate the partnership with Sallie Mae, and as they increase their presence in Delaware, we will continue working to ensure they have access to a high-quality workforce. We look forward to working with Sallie Mae and their leadership for continued growth and expansion in our community."

"With an additional 285 jobs coming to New Castle County, Sallie Mae's continued investment and commitment to Delaware is boosting employment and helping thousands of students across the country gain access to college and career and technical education," said Representative Blunt Rochester. "Sallie Mae's expansion is a welcome sign that Delaware's world-class business environment and talented workforce continue to attract and retain businesses."

The company is also passionate about giving back to the communities where its employees live and work. As part of today's announcement, The Sallie Mae Fund - the company's charitable foundation - contributed $50,000 to the Food Bank of Delaware. Today's donation completes a two-year commitment of $100,000 for the Food Bank's Creating a Bold Future campaign to retrofit construction of a new Food Bank of Delaware headquarters. In addition, company employees regularly participate in the Food Bank's various community activities. Sallie Mae employee Andrew Zeltt was recently named the Food Bank's Volunteer of the Year.

"Raising the needed $10.6 million for our Creating a Bold Future campaign will take the entire community," said Food Bank of Delaware President and CEO Patricia Beebe. "We are thankful that Sallie Mae has stepped up to support this important project. Vulnerable Delawareans are depending on us for services. We cannot let them down. This new building is needed to ensure that we are well-equipped to meet the needs of citizens well into the future."

As a consumer banking business, Sallie Mae is accredited by and has an A+ rating from the Better Business Bureau. The company is committed to helping make college happen by offering financial planning tools, educating families on understanding and managing credit, conducting industry-leading research, and providing competitive private student loans for students, parents, and graduate students to cover any gaps in college financing.

"Sallie Mae is a growing consumer bank with strong, established roots here in Delaware, and we are looking forward to again drawing from the talented local workforce to continue the build-out of a best-in-class customer service operation," said Raymond J. Quinlan, Chairman and CEO, Sallie Mae. "It's particularly gratifying to have the support of our governor, congressional delegation, and local leaders, and to see many seats already filled at this new facility. And there are more to come as we introduce new products tailored to meet the needs of graduate, professional, and medical students, and as we expand our business with additional offerings."

For more information or to learn about current job opportunities, visit SallieMae.com.

About Sallie Mae

Sallie Mae (NASDAQ: SLM) is the nation's saving, planning and paying for college company. Whether college is a long way off or just around the corner, Sallie Mae offers products that promote responsible personal finance, including private education loans, Upromise rewards, scholarship search, college financial planning tools and online retail banking. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

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