|78490FB40||SLM CORP 6.00%31MTN DUE 12/15/31|
|78490FYM5||SLM CORP 6.10%21EDNOTES DUE 09/15/21|
These two SLM bonds provide The challenge here is that SLM (Sallie May = Student Loan Marketting) might be derailed by the Obama administration. We call that unlikely. These things pay and they pay hard.
Update: the 6.10% 09/15/2021 Education Notes where REDEEMED by Sallie Mae. This means that Sallie matured them early because they can get better rates from the federal reserve or an investment bank vs. the open bond market. This is like a $100 savings bond (that costs $50) being matured to $100 early. This is a good thing.