SLM Corporation

Sallie Mae Reports Third Quarter 2026 Financial Results

Sallie Mae (SLM) released its third quarter 2026 financial results, directing readers to its investor relations website and the SEC website for the full materials. The body contains no financial figures; the actual numbers live in the linked earnings materials. The company will host its earnings conference call today, Oct. 22, 2026, at 5:30 p.m. ET, with a webcast replay available roughly two hours after the call.

•3d ago

The 2027-28 FAFSA® Is Now Open: Students and Families Should File It As Soon As Possible to Maximize Financial Aid for College

Sallie Mae announced that the 2027-28 FAFSA is now open, urging students and families to file early to maximize access to federal, state, and school-based financial aid. The company cited its research that only 25% of families know the form opens in the fall and 26% skipped filing last year, often over misconceptions about income eligibility. This year's form includes updates such as a shorter completion time, real-time aid eligibility estimates, and pre-filled information for returning students. The release promotes Sallie's free FAFSA resources, webinars, and Scholly scholarship search tool.

•26d ago

“How America Pays for College 2026” Finds Overwhelming Majority of Families Continue to View College as a Valuable Investment and More Than 8 in 10 Are Confident in How They Paid for It

Sallie released its annual 'How America Pays for College 2026' report with Ipsos, finding 91% of families view higher education as a valuable investment. Families reported spending an average of $34,019 on college during the 2025-26 academic year, up from $30,837 the prior year, funding costs through a mix of income, savings, scholarships, and borrowing. The study notes 47% of families borrowed to pay for college, while 74% completed the FAFSA, an increase from the previous year.

•2mo ago

SLM: 8-K · earnings release

SLM Corporation reported second quarter 2026 GAAP diluted earnings per share of $0.29, a decrease from $0.32 in the year-ago quarter, with net income totaling $59 million. The decrease in earnings was driven by lower loan sales gains compared to the prior year, though the company noted the results were consistent with expectations. Private Education Loan originations increased 4.5% year-over-year, and average loans outstanding held for investment totaled $21.1 billion. The company maintained its full-year 2026 guidance for diluted EPS between $3.10 and $3.20, anticipating 12% to 14% originations growth and net charge-offs of $365 million to $385 million. Operating efficiency metrics showed a cost of funds of 4.13%, an improvement from 4.22% in the prior year, while non-interest expenses totaled $195 million driven by product enhancements for peak season. Capital deployment actions included the conclusion of a $200 million accelerated share repurchase program in June, leaving $242 million of capacity remaining under the 2026 authorization. SLM also refinanced $500 million of senior notes due in November 2026 and paid a quarterly dividend of $0.13 per share on June 15, 2026.

SEC 8-K•3mo ago

SLM: 8-K · proxy statement

SLM Corporation held its 2026 Annual Meeting of Stockholders on June 16, 2026, where shareholders voted on three proposals regarding board governance and executive compensation. The company's stockholders elected 13 directors, including Janaki Akella and R. Scott Blackley, to serve one-year terms and approved an advisory resolution regarding the compensation of named executive officers. Additionally, shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026.

SEC 8-K•4mo ago

SLM: 8-K · other

SLM Corporation filed an 8-K to disclose a presentation given at the Morgan Stanley U.S. Financials Conference, highlighting strong credit quality metrics and strategic updates. The company reported that average FICO scores at approval rose to 754 in Q1 2026, with 95% of loans cosigned, indicating disciplined underwriting. Management outlined the impact of new federal student lending reforms (H.R.1.), which eliminate Grad PLUS loans and cap Parent PLUS loans, potentially driving an additional $4.5B to $5B in annual private loan originations for Sallie Mae. The company projects full-year 2026 originations of $5.4B and an on-balance sheet portfolio of $20.7B. SLM also addressed isolated credit pressure in a small segment of high-ability-to-pay borrowers, attributing it to misaligned third-party debt resolution practices. The company has paused certain recovery loan sales and is transitioning to internal strategies, noting that if third-party strategies are not resumed, 2026 net charge-offs could increase by approximately $25 million.

SEC 8-K•4mo ago

The Sallie Mae Fund Expands Scholarship Program for Students Pursuing Graduate Degrees

Sallie Mae announced an expansion of its philanthropic efforts through The Sallie Mae Fund, doubling the number of graduate scholarships available. The Bridging the Dream Scholarship for Graduate Students will now offer 20 awards of up to $10,000 each, totaling up to $200,000, administered in partnership with the Thurgood Marshall College Fund. The company is also offering 50 Completing the Dream Scholarships of up to $2,500 for undergraduate students, with applications open through July 17, 2026.

•4mo ago

SLM: 8-K · debt financing

SLM Corporation closed a $500 million offering of 6.495% Fixed-to-Floating Rate Senior Notes due 2032 on May 15, 2026. The notes were underwritten by J.P. Morgan Securities LLC and Barclays Capital Inc. The company intends to use the net proceeds to fund a tender offer for its existing 3.125% senior notes due 2026. This refinancing allows SLM to replace lower-coupon debt with higher-coupon, longer-duration debt, likely to extend its maturity profile and reduce near-term liquidity pressure. The new notes feature a fixed rate of 6.495% until May 2031, after which they convert to a floating rate equal to the Benchmark plus 271 basis points. This structure exposes the company to variable interest costs in the final year of the instrument's life.

SEC 8-K•5mo ago

SLM Corporation Prices Public Offering of Senior Notes

SLM Corporation priced a public offering of $500 million in 6.495% Senior Notes due 2032 at par. The company intends to use the net proceeds to fund a tender offer for its existing 3.125% notes due 2026, effectively refinancing near-term debt at a higher interest rate. J.P. Morgan and Barclays are acting as joint book-running managers for the offering, which is expected to close on May 15, 2026.

•5mo ago

College Decision Day Is Here: What Students and Families Should Know About Paying for College

Sallie Mae issued guidance for students and families navigating College Decision Day, emphasizing the importance of understanding the full cost of attendance and post-graduation outcomes. The company advises families to exhaust scholarships and grants before borrowing and highlights tools like Scholly® Scholarships to find funding. This press release serves as brand awareness for Sallie Mae’s private student lending and financial literacy resources without disclosing material financial information.

•5mo ago

The Sallie Mae Fund Commemorates Military Appreciation Month With $50,000 Contribution to Folds of Honor

The Sallie Mae Fund announced a $50,000 contribution to Folds of Honor in recognition of Military Appreciation Month. The grant aims to expand scholarship access for the spouses and children of fallen and disabled service members. Since 2014, The Sallie Mae Fund has contributed a total of $635,000 to the organization, funding more than 100 scholarships.

•5mo ago