SLM Corporation.
SLM.US | Other credit granting
SLM Corporation, commonly known as Sallie Mae, is a U.S.-based corporation that originates, services, and collects student loans. It provides various financial services and products related to education, including private student loans, tuition insurance, and college savings programs. Sallie Mae pri...Show More
Better Health for All
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The company's core business of originating and servicing student loans is strongly correlated with negative mental health outcomes. Studies indicate that 64% of surveyed individuals reported that student debt negatively impacts their mental health, leading to feelings of depression, stress, worry, and anger.
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The company's own report acknowledges that 18% of at-risk students cite mental health issues as a barrier to college completion.
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As the company's entire revenue is derived from student loans, 100% of its revenue is from activities with established negative mental health impacts. While the company's report acknowledges mental health issues, and an article promotes mental health resources,
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there is no evidence of substantial practical support or significant resource allocation for mental health initiatives. Similarly, while a study emphasizes the need for financial education to address the mental health impacts of student loan debt,
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there is no evidence of comprehensive or widespread health education initiatives by the company.
Fair Money & Economic Opportunity
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No evidence available to assess SLM Corporation on Fair Money & Economic Opportunity.
Fair Pay & Worker Respect
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In 2024, SLM Corporation's CEO total compensation to median employee pay ratio was 115:1.
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None of the company's employees were covered by collective bargaining agreements as of December 31, 2017.
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In 2014, Sallie Mae Bank received a $93.3 million penalty for alleged unfair and deceptive practices related to student loans and violations of the Servicemembers Civil Relief Act.
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Employee engagement, based on 653 reviews, shows an average rating of 3.9 out of 5 stars, with 74% of employees recommending the company to a friend and 82% approving of the CEO.
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Fair Trade & Ethical Sourcing
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SLM Corporation operates as a financial services company, primarily focused on student loans and banking products. Its business model does not involve the procurement or trade of physical commodities, nor does it have a supply chain that would typically require fair-trade certifications, audits for upstream labor practices, or traceability of raw materials. While the company encourages the use of diverse suppliers and has a third-party management program, no specific percentage of procurement budget directed to diverse suppliers is provided.
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Therefore, the company has no exposure to the upstream labor practices or material sourcing risks that these KPIs are designed to measure, and no quantitative data is available for supplier diversity spend.
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Honest & Fair Business
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The company's board of directors has 91% of its members free from material conflicts of interest.
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No other specific, concrete data points were provided for the remaining KPIs.
Kind to Animals
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SLM Corporation (Sallie Mae) is a financial services company focused on student loans and banking products. Its business model does not involve animal-derived products, animal testing, animal agriculture, or any operations that would directly impact animal welfare or habitats.
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An article from crueltyfreeinvesting.org explicitly states "No Animal Exploitation" for SLM Corporation.
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Therefore, all KPIs related to the 'Kind to Animals' value are not applicable to the company's operations.
No War, No Weapons
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No evidence available to assess SLM Corporation on No War, No Weapons.
Planet-Friendly Business
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The company reported no regulatory actions, violations, fines, or compliance issues related to environmental matters in its 2022 and 2023 ESG reports.
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While greenhouse gas inventories were completed for fiscal years 2022 and 2023,
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no specific emissions figures were provided.
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The company also signed a zero-waste agreement with a waste management provider,
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but no specific waste diversion rate was disclosed.
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No quantitative data is available for other environmental metrics such as renewable energy use, water use, green building certifications, or science-based targets.
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Respect for Cultures & Communities
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No evidence available to assess SLM Corporation on Respect for Cultures & Communities.
Safe & Smart Tech
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No evidence available to assess SLM Corporation on Safe & Smart Tech.
Zero Waste & Sustainable Products
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Sallie Mae reported a waste diversion rate of 42.6% for its Delaware locations in 2023, which represent 60% of its total office space and 51% of its headcount.
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The company corrected its 2022 waste diversion rate for Delaware locations to 28.5%.
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Sallie Mae set a corporate objective in 2020 to send zero waste to landfills and signed a zero-waste agreement with its waste management and recycling provider in 2022.
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Waste reduction initiatives include supporting customer transitions to electronic statements, with 95.3% of customers opting for electronic statements in 2023.
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Environmentally focused design principles are followed in office locations, with specifications aligned with LEED qualifications.
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This includes installing cradle-to-cradle certified carpets, using low VOC paints, procuring ceramic tile with pre-consumer recycled materials, installing low-flow plumbing, utilizing Greenguard Gold Certified ceiling tiles with over 73% recycled material, and implementing energy-efficient LED lighting.
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The company has not reported any waste disposal violations in the past three years.
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