Definition of Sallie Mae in English:

Sallie Mae

Pronunciation /ˌsalē ˈmā/ /ˌsæli ˈmeɪ/

proper noun

informal
  • The Student Loan Marketing Association, an agency that makes educational loans more widely available to college students.

    • ‘The Sallie Mae Fund administers its own programs and initiatives. As such, The Fund does not accept unsolicited grant proposals.’
    • ‘Sallie Mae has been hit hard by student loan losses in the wake of the global credit crises.’

Origin

1970s elaboration of the acronym SLMA, suggested by the given names Sally and Mae, on the pattern of Fannie Mae.