Exhibit 23.2

               CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

As independent public accountants, we hereby consent to the incorporation by 
reference in SLM Holding Corporation's previously filed Registration 
Statement No. 333-33577, Registration Statement No. 333-33575, and 
Registration Statement No. 333-44425, of our report dated January 14, 1999 
included in this Form 10-K. It should be noted that we have not audited any 
financial statements of the company subsequent to December 31, 1998 or performed
any audit procedures subsequent to the date of our report.

/s/ Arthur Andersen, LLP
Washington, D.C.
March 29, 1999