SLM Corporation is a publicly traded U.S. corporation that provides consumer banking. Its nature has changed dramatically since it was set up in 1973. At first, it was a government entity that serviced federal education loans. It then became private and started offering private student loans, although at one point it had a contract to service federal loans.
The company's primary business is originating, servicing, and collecting private education loans. The company also provides college savings tools such as its Upromise Rewards business and online planning for college tools and resources. Sallie Mae previously originated federally guaranteed student loans originated under the Federal Family Education Loan Program. and worked as a servicer and collector of federal student loans on behalf of the Department of Education. The company now offers private education loans and manages more than $12.97 billion in assets. Sallie Mae employs 1,400 individuals at offices across the U.S.
On April 30, 2014, Sallie Mae spun off its loan servicing operation and most of its loan portfolio into a separate, publicly traded entity called Navient Corporation. Navient is the largest servicer of federal student loans and acts as a collector on behalf of the Department of Education.
| Key people | Raymond J. Quinlan (CEO) Steven J. McGarry (CFO) Laurent Lutz (General Counsel) Jeffrey Dale (Chief Risk Officer) Charlie Rocha (Chief Marketing Officer) |
|---|---|
| Products | Private student loans K-12 education loans College savings plans Insurance Plans College Planning Tools |
| Operating income | US$334 million (2013) US$417 million (2013) (2014) |
| Total assets | US$12.97 billion (2014) US$10.71 billion (2013) |
| Net income | US$578 million (2014) US$462 million (2013) |
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
It is a powerful and effective technique, which can greatly increase a company's revenue if used properly.
The main advantages of NPS are close correlation with a company's growth and easy collection, interpretation and communication of the data.
Net Promoter Score is a number from -100 from 100.
Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent.
The industry average for Finance / Finance: Consumer Services is 0.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If SLM Corporation sends out NPS surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience.
On the other hand, if they survey their customers a few weeks after the purchase they are also tracking how satisfied their customers are with their products and services over time.
Therefore, comparing the NPS score of SLM Corporation with your own without any further context is not that useful.
What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. That's where Customer.guru comes in.
How are your customers satisfied depending on:
We have estimated the Net Promoter Score of SLM Corporation based on the publicly available information
including the sentiment of the company-related tweets, 3rd party reviews, and Alexa ratings.
Do you think this information is incorrect? Report incorrect information. Do you have more accurate data? Submit NPS score.