Executive Change: Sallie Mae Names John Kane Senior Vice President, Collections

Reston, Va.-based Sallie Mae (NYSE:SLM), the nation’s leading saving- and paying-for-college company, today announced the appointments of Tim Hynes and John Kane.

Tim Hynes joins Sallie Mae as senior vice president, credit. In this newly created role, Hynes will head the credit department and build the company’s infrastructure, controls and analytics for sound credit risk management and quality asset growth. Previously Hynes served in a variety of consumer finance lending and credit management roles at MBNA America, both in the U.S. and abroad. Most recently, he had profit and loss responsibility for new and existing credit card account marketing for Bank of America. Hynes received a Bachelor of Science degree in business administration from the University of Richmond.

John Kane joins Sallie Mae as senior vice president, collections. In this role, Kane will oversee the company’s contingency and private credit collection activities. Previously, Kane served in a variety of roles within consumer credit operations at MBNA America, including credit acquisition, fraud, collections and delinquency management. Most recently, he directed enterprise fraud strategies for Bank of America’s global consumer group. Kane received a Bachelor of Arts degree in economics from the University of Delaware.

“We are excited to welcome both Tim and John to this great company,” said Jack Hewes, executive vice president and chief credit officer. “Their experience and credit discipline will bring significant value to our growing business.”

SLM Corporation, commonly known as Sallie Mae, is the nation’s leading provider of saving- and paying-for-college programs. The company manages more than $169 billion in education loans and serves 10 million student and parent customers. Through its Upromise affiliates, the company also manages nearly $19 billion in 529 college-savings plans, and is a major, private source of college funding contributions in America with more than 8.5 million members and $425 million in member rewards. Sallie Mae and its subsidiaries offer debt management services as well as business and technical products to a range of business clients, including higher education institutions, student loan guarantors and state and federal agencies. More information is available at www.salliemae.com. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.