Bond NaviCorp 4.75% ( XS0187186183 ) in EUR

Issuer NaviCorp
Market price 100 %  ⇌ 
Country  United States
ISIN code  XS0187186183 ( in EUR )
Interest rate 4.75% per year ( payment 1 time a year)
Maturity 17/03/2014 - Bond has expired



Prospectus brochure of the bond Navient XS0187186183 in EUR 4.75%, expired


Minimal amount 100 000 EUR
Total amount 1 000 000 000 EUR
Detailed description Navient is a U.S.-based company that provides student loan management and servicing, primarily for federal student loans, and offers related financial services.

The Bond issued by NaviCorp ( United States ) , in EUR, with the ISIN code XS0187186183, pays a coupon of 4.75% per year.
The coupons are paid 1 time per year and the Bond maturity is 17/03/2014









Pricing Supplement
SLM Corporation
(Incorporated in the State of Delaware, United States of America)
SERIES NO: 7
TRANCHE NO: 2
Euro 250,000,000 4.75 per cent. Notes due 2014
issued pursuant to

U.S.$10,000,000,000
Euro Medium Term Note Programme


Issue Price: 99.67 per cent. plus accrued interest from and including
3 March 2004 to, but excluding, 5 May 2004

BNP Paribas
Merrill Lynch International
UBS Investment Bank



The date of this Pricing Supplement is 30 April 2004.




This Pricing Supplement, under which the Notes described herein (the "Notes") are issued, is supplemental to,
and should be read in conjunction with, the Offering Circular dated 24th March 2004 (but not the terms and
conditions set out therein) (the "Offering Circular") issued in relation to the U.S.$10,000,000,000 Euro
Medium Term Note Programme of SLM Corporation (the "Programme"). Terms defined in the Offering
Circular have the same meaning in this Pricing Supplement. Terms set out but not defined in the Notes have
the same meaning as the terms used or defined in this Pricing Supplement read together with the Offering
Circular. The Notes will be issued on the terms of this Pricing Supplement read together with the terms and
conditions set out in the offering circular dated 28th March 2003 relating to the Programme. The Issuer
accepts responsibility for the information contained in this Pricing Supplement which, when read together
with the Offering Circular (but not the terms and conditions set out therein) and the terms and conditions set
out in the offering circular dated 28th March 2003 relating to the Programme, contains all information that is
material in the context of the issue of the Notes.
This Pricing Supplement does not constitute, and may not be used for the purposes of, an offer of, or an
invitation by or on behalf of anyone to subscribe or purchase any of the Notes.
There has been no material adverse change in the consolidated financial position of the Issuer since 31
December 2003.
Signed:


William M.E. Rachal, Jr.
Authorised Signatory

In connection with this issue, Merrill Lynch International ("MLI") or any person acting for it may over-allot
or effect transactions with a view to supporting the market price of the Notes at a level higher than that which
might otherwise prevail for a limited period after the issue date. However, there may be no obligation on MLI
or any agent of MLI to do this. Such stabilising, if commenced, may be discontinued at any time, and must be
brought to an end after a limited period. Any such transaction will be carried out in accordance with
applicable laws and regulations.


2





The terms of the Notes and additional provisions relating to their issue are as follows:
Provisions appearing on the face of the Notes
1
Series No:
7
2
Tranche No:
2
3
ISIN:
Temporary: XS0192028529
Permanent: XS0187186183
4
Currency:
Euro ("")
5
Principal Amount of Tranche:
Euro 250,000,000
6
Issue Date:
5 May 2004
7
Issue Price:
99.67 per cent. plus accrued interest from and
including 3 March 2004 to, but excluding, 5 May
2004.
Provisions appearing on the back of the Notes
8 Form:

Registered
9
Denomination(s):
EUR 100,000 and integral multiples of
EUR 1,000 in excess thereof
10
Status:
Senior Unsecured
11
Redenomination into euro (if Notes denominated
N/A
in the national currency of a Member State are
converted into euro) and/or consolidation:
12
Interest Commencement Date:
3 March 2004
13
Interest Rate (including after Maturity Date):
4.75 per cent. per annum
14
Interest Payment Date(s):
Payable annually in arrear on each 17 March
commencing on 17 March 2005. There will be a
long first coupon from and including 3 March
2004 to and excluding 17 March 2005.
15 Relevant
Time:
N/A
16
Interest Determination Date:
N/A
17
Page for Floating Rate:
N/A
18
Reference Banks:
N/A
19
Principal Financial Centre:
N/A
20 Benchmark:

N/A
21 Representative
Amount:

N/A
22
Relevant Currency:
N/A
23
Effective Date:
N/A
24
Specified Duration:
N/A
25 Margin:

N/A
26
Rate Multiplier:
N/A
27
Maximum/Minimum Interest Rate:
N/A
28
Maximum/Minimum Instalment Amount:
N/A
29
Maximum/Minimum Redemption Amount:
N/A
3





30
Interest Amount:
Euro 4,750 per Euro 100,000 Denomination on
each Interest Payment Date, other than the
Interest Payment Date falling on 17 March 2005,
in which case it will be Euro 4,931.69.
31
Day Count Fraction:
Actual/Actual -- ISMA
32
Interest Period Date(s):
N/A
33
Redemption Amount (including early

redemption):
Principal Amount
34
Maturity Date:
17 March 2014
35
Redemption for Taxation Reasons permitted on

days other than Interest Payment Dates:
Yes
36 Amortisation
Yield:

N/A
37
Terms of redemption at the option of the Issuer

or description of any other Issuer's option:
N/A
38
Issuer's Option Period:
N/A
39
Terms of redemption at the option of the

Noteholders or description of any other

Noteholders' option:
N/A
40
Noteholders' option:
N/A
41
Instalment Date(s):
N/A
42 Instalment
Amount(s):

N/A
43
Unmatured Coupons to become void upon early

redemption:
No
44
Talons to be attached to Notes and, if applicable,

the number of Interest Payment Dates between

the maturity of each Talon:
N/A
45
Business Day Jurisdictions for Condition 7(C):
London, New York and TARGET
46
Additional steps that may only be taken

following approval by an Extraordinary

Resolution in accordance with Condition 12(A):
N/A
47
Details of any other additions or variations to the

Conditions:
N/A
48
The Agents appointed in respect of the Notes are:
The Bank of New York (Luxembourg) SA
(Listing Agent), Aerogolf Centre, 1A Hoehenhof,
L-1736 Senningerberg, Luxembourg;

JPMorgan Chase Bank, London Branch (Issuing
and Principal Paying Agent), Trinity Tower, 9
Thomas More Street, London E1W 1YT;

4







J.P. Morgan Bank, Luxembourg S.A. (Registrar,
Paying Agent and Transfer Agent), 5 Rue Plaetis,
L-2338 Luxembourg; and

SLM Corporation (Calculation Agent),
11600 Sallie Mae Drive, Reston, VA 20193
Provisions applicable to Global Notes

49
Notes to be represented on issue by:
Global Note
50
Global Note exchangeable for Definitive Notes

at the request of the holder:
No
Provisions relating only to the sale and listing of the Notes
51
Details of any additions or variations to the

selling restrictions:
N/A
52
Listing:
Yes. Application has been made to list the Notes
on the Luxembourg Stock Exchange
53
Dealer's Commission:
0.45 per cent.
54
Method of issue of Notes:
Syndicated Issue
55
The following Dealers are subscribing for the

Notes:
BNP Paribas
Merrill Lynch International
UBS Limited
56 Common
Code:
Temporary: 019202852

Permanent: 018718618
WKN:
N/A
57
The aggregate principal amount of Notes issued

has been translated into U.S. dollars at the rate of

1.00 = U.S.$1.1882, producing a sum of:
U.S.$ 297,050,000
58
Net Proceeds:
Euro 250,098,413
59
Use of Proceeds (if different from that stated in

the Offering Circular):
As stated in the Offering Circular
60
Miscellaneous:
The Notes will be assigned temporary ISIN and
Common Code numbers until 15 June 2004, on
which date they will be assigned the permanent
ISIN and Common Code numbers.
61
Terms and Conditions:
N/A

5