SEGMENTS Limitations of Core
Earnings for further discussion of the
differences between Core Earnings and GAAP, as well
as reconciliations between Core Earnings and GAAP.
In prior filings with the SEC of SLM Corporations Annual
Report on
Form 10-K
and quarterly report on
Form 10-Q,
Core Earnings has been labeled as
Core net income or Managed
net income in certain instances.