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SLM > SEC Filings for SLM > Form 8-K on 6-Dec-2011All Recent SEC Filings

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Form 8-K for SLM CORP


6-Dec-2011

Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits


Item 4.01. Changes in Registrant's Certifying Accountant.

The Audit Committee of the Board of Directors (the "Audit Committee") of SLM Corporation, a Delaware corporation (the "Company"), approved the selection of KPMG LLP ("KPMG") on November 30, 2011, and intends to appoint KPMG, as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2012. During the two fiscal years ended December 31, 2010 and 2009, and through November 30, 2011, the Company has not consulted with KPMG regarding (i) the application of accounting principles to any proposed transaction or the rendering of any audit opinion on the Company's consolidated financial statements; or (ii) any matter that was either the subject of a "disagreement" or a "reportable event," as those terms are defined in Item 304(a)(1) of Regulation S-K.

On November 30, 2011, the Audit Committee approved the dismissal of PricewaterhouseCoopers LLP ("PwC") as its independent registered public accounting firm. Such dismissal will become effective upon completion by PwC of its procedures on the financial statements of the Company as of and for the year ended December 31, 2011 and the filing of the related Form 10-K.

The audit reports of PwC: (i) on the consolidated financial statements of the Company and its subsidiaries as of and for the years ended December 31, 2010 and 2009 did not contain any adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principle; and (ii) on the effectiveness of internal control over financial reporting as of December 31, 2010 and 2009 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principle.

During the fiscal years ended December 31, 2010 and 2009, and through November 30, 2011, there were (i) no "disagreements," as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K, between the Company and PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which, if not resolved to the satisfaction of PwC would have caused PwC to make reference thereto in their reports on the consolidated financial statements for such years, and (ii) no "reportable events," as that term is defined in Item 304(a)(1)(v) of Regulation S-K.

The Company has provided PwC with a copy of the above disclosures, and PwC has furnished the Company with a letter addressed to the U.S. Securities and Exchange Commission stating that it agrees with the above statements. A copy of such letter, dated December 6, 2011, is filed as Exhibit 16.1 to this Form 8-K.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

EXHIBIT
NUMBER                                     DESCRIPTION

16.1          Letter from PricewaterhouseCoopers LLP to the Securities and Exchange
              Commission, dated December 6, 2011.


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