Medical, dental, and vision care

Sallie Mae offers comprehensive medical, dental, and vision coverage to all benefit-eligible employees and their dependents, including same- and opposite-sex domestic partners.

On average, Sallie Mae subsidizes 80% of the cost of employees’ healthcare premiums. We offer PPO, HMO, and High Deductible medical plan choices in most areas. The High Deductible medical plan features low premiums, a pre-tax Health Savings Account and a significant company contribution that can be used to offset your healthcare expenses.

Retirement (401(k))

Employees rank Sallie Maes 401(k) Retirement Savings Plan as one of the best benefits we offer. The Plan allows you to defer up to 75% of your eligible pay on a pre-tax basis up to the annual IRS limits. In addition, we offer a 5% contribution of which 4% is provided on a matching basis and 1% is provided to you regardless of whether or not you participate in the plan. After just one year of service, you are 100% vested in the company matching contributions.

Investment advice

Sallie Mae places a great emphasis on savings to meet your future financial needs. For this reason, the company encourages employees to take advantage of a personalized online investment advice tool, through Financial Engines. This service provides investment advice and retirement planning, at no cost to employees.

Paid time off

Sallie Mae understands you need time off to “recharge” or to attend to family and personal issues. That’s why we provide very generous vacation, sick, and paid time off programs, including paid holidays, professional exam days, bereavement, military, and jury duty leave.

We also provide paid time off for those who volunteer their time to serve the education community.

Life and disability insurance

Sallie Mae provides fully paid life, accidental death, and dependent life insurance. Supplemental term life and accidental death and dismemberment coverage is available, at reduced rates, for employees, spouses, and eligible children.

Sallie Mae also provides short- and long-term disability coverage, at no cost to employees. If you become disabled and unable to work, you may be eligible for disability benefits that replace a portion of your lost income.

Other benefits

• Tuition reimbursement
• Employee scholarship program
• Flexible spending accounts including a $1,000 dependent care match 
• Matching contributions to charitable organizations 
• On-site fitness centers at many locations 
• Employee assistance program
• Discounts on auto and homeowner's insurance 
• Long-term care insurance