VIDEO: Sallie Mae celebrates 40 years

Cupcakes, balloons and thank-yous for one of the largest employers in Delaware.

WDEL's Mellany Armstrong reports.

Applause for 40 years of Sallie Mae. CEO Al Lord noted the company's challenges and changes at a ceremony at the Christiana headquarters.

"When I think about moving to the private sector, solely to the private sector, I think one of the more effective moves that we've made, and one of the monumental moves that we've made -- and we've made a lot of moves -- was moving to Delaware and away from the (Washington D.C.) beltway," he said.

Sallie Mae moved its headquarters to Delaware in 2010. It makes private education loans to college students, and Economic Director Alan Levin appreciates it.

"To see it all come together like it is today is a real positive and a great shot for Delaware. so, we're excited about this, great company, great culture," he said.

The company celebrated by donating $40,000 to the Boys and Girls Clubs of Delaware. It plans to add 90 employees over the next three months.

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