Sallie Mae Law and Legal Definition

According to 31 CFR 354.1 [Title 31 -- Money and Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter II -- Fiscal Service, Department of the Treasury; Subchapter B -- Bureau of the Public Debt; Part 354 -- Regulations Governing Book-Entry Securities of the Student Loan Marketing Association (Sallie Mae)], sallie mae means “the Student Loan Marketing Association, a stock holder-owned corporation and government-sponsored enterprise established in 1972 by, and operating pursuant to, Section 439 of the Higher Education Act of 1965, as amended, 20 U.S.C. 1087-2.”