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SLM Corporation, commonly known as Sallie Mae, reports developments tied to private education lending, student-loan servicing and resources for families financing higher education. Company news includes updates to Sallie Mae Graduate Loan, Law School Loan, Medical School Loan and Dental School Loan products, repayment features, prequalification, scholarships through The Sallie Mae Fund, and research on college planning and education affordability.
Recurring announcements also cover quarterly financial results, guidance, senior-note and other capital-structure actions, shareholder voting matters, leadership appointments, and governance or legal-risk developments involving the Sallie Mae brand and its subsidiaries.
Sallie Mae (Nasdaq: SLM) has announced an increase in its fourth-quarter dividend for 2021, raising it from $0.03 to $0.11 per share for common stockholders. Additionally, the Preferred Stock Series B dividend is set at $0.45955 per share. Both dividends will be payable on December 15, 2021, to stockholders on record as of the close of business on December 3, 2021. This move reflects the company's commitment to shareholder returns amidst its position as a leader in private student lending.
Sallie Mae (Nasdaq: SLM) reported a third-quarter 2021 GAAP net income of $72 million, or $0.24 per diluted share. In addition, the company recorded core earnings of $74 million, matching GAAP earnings.
Private education loan originations rose by 10% year-over-year, reaching $2.1 billion for the quarter, though first nine-month originations saw a slight decline of 0.2% to $4.7 billion.
The Board approved a $250 million increase to the stock repurchase program and declared a fourth-quarter dividend of $0.11 per share.
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The Sallie Mae Fund is offering $100,000 in scholarships for current graduate students from underserved communities, including minorities and first-generation college students. Applications are open until Oct. 25, 2021, at 12 p.m. ET. Applicants must submit a video showcasing their commitment to advancing social justice. The initiative, now in its sixth year, is in partnership with the Thurgood Marshall College Fund and aims to empower future leaders in education.
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Sallie Mae (Nasdaq: SLM) will publish its third-quarter financial results on October 20, 2021, post-market. A live audio webcast and presentation will follow on October 21 at 8 a.m. ET. Investors can access earnings details via the investor relations website. Pre-registration for the conference call is available, and a replay will be accessible two hours after the event. Sallie Mae is a leader in private student lending, facilitating access to education and lifelong learning.
Just 68% of College Families Filed the FAFSA Last Year, with many citing the form’s complexity and time required. Families missed out on over $150 billion in potential aid, with 44% believing they wouldn't qualify. To assist, Sallie Mae launched a free FAFSA application tool, allowing students to complete it in as little as seven minutes. Tips provided include early filing, gathering necessary documents, and filing special circumstances for financial changes due to COVID-19. For more information, visit SallieMae.com.
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Sallie Mae (Nasdaq: SLM) announced that CEO Jon Witter will present at the 2021 Barclays Global Financial Services Conference on Monday, Sept. 13, at 10:30 a.m. ET. The event will be held virtually, and live audio access along with a replay will be available at SallieMae.com/investors.
Sallie Mae emphasizes education as a pathway to achieving life goals and provides financial solutions to support students.
Sallie Mae (Nasdaq: SLM) announces a third-quarter dividend for 2021 of $0.46460 per share on its Preferred Stock Series B and $0.03 per share on its common stock. Dividends will be paid on Sept. 15, 2021, to shareholders of record as of Sept. 3, 2021. The company continues to support education financing and access to college, positioning itself as a leader in private student lending, helping customers reach their educational goals.