SLM Corporation
Medium Term Notes, Series B

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. 405 (To Prospectus dated January 5, 2005 and Prospectus Supplement dated January 5, 2005)

Trade Date: 3/7/2005 Issue Date: 3/10/2005

The date of this Pricing Supplement is 3/7/2005

										Interest Payment						Subject to Redemption
CUSIP		Stated Interest Rate Per Annum(1)		Maturity Date		Price to Public(2)(3)		Discounts & Commissions		Frequency		First Payment		Survivor's Option		Yes/No		Date and terms of redemption		Aggregate Principal Amount		Net Proceeds		OID Status
78490FSU4		N/A		6/15/2010		100%		0.750%		Quarterly(4)		06/15/05		No		No				4,920,000		4,883,100.00		N

Floating Rate Index		Spread		Reset Period(4)		Accrual Method		Maximum Interest Rate		Minimum Interest Rate
91 Day T-Bill		0.350%		Weekly		Actual/Actual (Payment Basis)		N/A		N/A

(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.

(4)

On the Interest Reset Date, which is the day after the 3 month T-Bill auction, the Calculation Agent will establish the new rate based on the BEY for the 3 month T-Bill auction published in H.15 (http://www.publicdebt.treas.gov/of/ofrespr.htm).
In the event that the results of the 91 day Treasury Bill auction ceases to be published or reported, or that no auction is held in a particular week, then the rate in effect as a result of the last such report will remain in effect until such time, as the results of auctions of 91 day Treasury Bills will again be published.

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