Sallie Mae to Hire 1,100 at New Credit Operations Center in Delaware

Student loan giant Sallie Mae (NYSE: SLM) announced Thursday that it would be opening a new credit operations center in Newark, Del. that will eventually employ 1,100 workers focused on credit management, collections and compliance for the company’s student loan business.

The company said it expects to hire 750 employees for the new office by the end of 2010 and an additional 350 more employees in 2011.

A spokesperson for Sallie Mae could not comment on how many of the jobs will be accounts receivable management and collection related, but did tell insideARM that 120 of the jobs will be classified as management positions. The spokesperson also confirmed that the positions “will support the company’s education lending and servicing business.”

Delaware Governor Ruth Ann Minner joined Sallie Mae in the announcement, saying, “As the world’s leading provider of student loans, Sallie Mae is known for its commitment to making education accessible and affordable for all students,” said Governor Ruth Ann Minner. “We are very proud Sallie Mae has chosen Delaware as its newest location to expand operations and continue to achieve its strategic goals.”

Sallie Mae said it plans to invest $10 million to expand the new office in Newark, a 160,000 building that it bought from Nationwide Insurance.

The company said it is eligible for up to $1 million in company-match workforce training grants associated with the start-up and relocation of operations at the center through the Blue Collar Training Fund program, administered by the Delaware Economic Development Office.

Sallie Mae also announced that its philanthropic arm, The Sallie Mae Fund, made a $25,000 contribution to the United Way of Delaware.