SLM Corp. through its subsidiaries, originates, services and collects loans made to students and/or their parents to finance the cost of their education. The company operates through three business segments: Consumer Lending, Business Services and FFELP Loans. The Consumer Lending segment originates, acquires, finances and services Private Education Loans. These loans are primarily to bridge the gap between the cost of higher education and the amount funded through financial aid, federal loans or customer's resources. The Business Services segment services its FFELP Loan portfolio and performs servicing, default aversion and contingency collections work on behalf of Guarantors of FFELP Loans and other institutions. This segment includes Upromise and ED Collection and Servicing Contracts. Upromise provides program management services for 529 college-savings plans. Members earns rewards by purchasing products at hundreds of online retailers, booking travel, purchasing a home, dining out, buying gas and groceries, using the Upromise World MasterCard, or completing other qualified transactions. ED Collection and Servicing Contracts provide collection services on defaulted student loans to ED customers. The FFELP Loans segment consists of its FFELP Loan portfolio and the underlying debt and capital funding the loans. FFELP Loans are insured or guaranteed by state or not-for-profit agencies and are also protected by contractual rights to recovery from the United States pursuant to guaranty agreements among ED and these agencies. The other segment offers a suite of solutions designed to help campus business offices increase their services to students and families. The product suite includes electronic billing, collection, payment and refund services plus full tuition payment plan administration. SLM was founded in 1972 and is headquartered in Newark, DE.