Form 424b3

SLM Corporation

Medium Term Notes, Series B

LOGO

With Maturities of 9 Months or More from Date of Issue

Registration No. 333-107132

Filed Pursuant to Rule 424(b)(3)

 

Pricing Supplement No. 555       Trade Date: 8/7/2006

(To Prospectus dated January 5, 2005 and

       Issue Date: 8/10/2006

Prospectus Supplement dated January 5, 2005)

      

The date of this Pricing Supplement is

    8/7/2006   

 

CUSIP  

Stated
Interest Rate Per1
Annum

  

Maturity
Date

  

Price to
Public2 3

  

Discounts
&
Commissions

  

Interest Payment

  

Survivor’s

Option

  

Yes/No

  

Subject to Redemption

  

Aggregate

Principal

Amount

  

Net

Proceeds

  

OID

Status

         

Frequency

   First
Payment		      

Date and terms of redemption

      
78490FZG7   6.200%   09/15/2026   100%   2.250%   Monthly   09/15/06   No   Yes  

Callable at 100% on 9/15/2010 and

Continuous thereafter with 10 NY business days notice.

   1,524,000   1,489,710.00   N

As of September 12, 2005 ABN AMRO Financial Services, Inc. changed its name to LaSalle Financial Services, Inc. Consequently, all references to “ABN AMRO Financial Services, Inc.” in the prospectus are amended to read “LaSalle Financial Services, Inc.”.

Effective June 30, 2005, Bear, Stearns & Co. Inc. was added as a selling agent under the SLM EdNotes program.

 

1 The interest rates on the Ed Notes may be changed by SLM Corporation from time to time, but any such change will not affect the interest rate on any Ed Notes offered prior to the effective date of the change.

 

2 Expressed as a percentage of aggregate principal amount.

 

3 See “Supplemental Plan of Distribution” in the Prospectus supplement for additional information concerning price to public and underwriting compensation.