SLM ( SLM), the Reston, Va.- based education loan company commonly known as Sallie Mae, said its Pioneer Credit Recovery unit got a contract from the New Jersey Department of Treasury to collect tax deficiencies.

The contract will be effective immediately and will have a three-year term with three, one-year extensions at New Jersey's option.

The contract is not expected to have a material impact on the company's 2006 earnings per share, SLM said in a press release.

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