Slm Corp 8-K Filings

SLM Corporation, commonly known as Sallie Mae, reported second quarter 2026 results with GAAP diluted EPS of $0.29, down from $0.32 a year earlier, and net income of $59 million. Private Education Loan originations grew 4.5% year over year, with average loans outstanding of $21.1 billion.

Results reflected net interest income of $333 million, provisions for credit losses of $126 million, total non-interest income of $68 million, and non-interest expenses of $195 million. The net interest margin was 4.75%, while the cost of funds declined to 4.13% from 4.22% in the prior-year quarter.

The company sold $420 million of Private Education Loans and in May 2026 issued $500 million of unsecured senior notes, using the proceeds to retire senior notes of the same amount due November 2026. Credit metrics included net charge-offs of $113 million and delinquencies of 3.72% of loans in repayment, compared with 3.51% a year ago.

Capital actions featured completion of a $200 million accelerated share repurchase totaling 9.3 million shares, leaving $242 million under the 2026 repurchase program, and a quarterly dividend of $0.13 per common share. For full-year 2026, the company expects EPS of $3.10–$3.20, Private Education Loan originations growth of 12%–14%, net charge-offs of $365–$385 million, and non-interest expenses of $750–$780 million.

SLM Corporation reported the results of its Annual Meeting of Stockholders held on June 16, 2026. Stockholders elected 13 directors to one-year terms, with each nominee receiving strong majority support and similar voting levels across the slate.

Stockholders also approved, on an advisory basis, the compensation of the company’s named executive officers, with approximately 170.7 million votes in favor versus a smaller number against or abstaining. In addition, stockholders ratified the appointment of KPMG LLP as independent registered public accounting firm for the year ending December 31, 2026, with over 177.6 million votes cast in favor and relatively few votes against or abstaining.

SLM Corporation provides an investor presentation outlining private education loan growth, credit quality trends, and impacts from recent federal student loan reforms. The company reports that its private education market share rose from 52% in 2020 to 63% at year-end 2025, with a +1.7% market share increase in Q1 2026 while the rest of the market saw minimal growth.

Credit quality metrics remain strong, with an average FICO at approval of 754 and 95% of loans cosigned in Q1 2026, both slightly above the prior-year quarter. Despite underwriting tightening that the company estimates affected about 10% of annual originations, private education loan originations grew +16% from 2023 to 2025.

The presentation discusses federal reforms in H.R.1, effective for new borrowers beginning July 1, 2026. Over several years, the company expects these reforms to increase originations by up to 70% and ultimately add an estimated $4.5–$5 billion in annual originations once the shift is complete. SLM also highlights new graduate and professional loan products launched in 2026, which have driven application growth of +117% for medical and dental loans and +34% for graduate and law loans versus the prior-year period.

Loss performance is described as broadly stable overall, with 30+ day delinquencies between about 3.54%–3.78% and net charge-offs between 2.15%–2.55% of average loans in repayment from 2022–2025. However, a small “impacted segment” of high-ability-to-pay borrowers linked to misaligned third‑party debt resolution practices has seen outsized gross charge-offs. This segment represented only 0.08% of the portfolio as of 2026 but about 6.40% of total on-balance sheet gross charge-offs as of April 30, 2026.

In response, SLM is pausing recovery loan sales and certain settlement strategies and shifting to internally controlled recovery approaches. The company states that if it does not resume third-party recovery strategies in 2026, full-year 2026 net charge-offs could increase by approximately $25 million, with an expectation of recovery over time through internal strategies. Management emphasizes that, excluding the impacted segment, recent repayment-wave losses have remained broadly stable and only modestly above expectations.

SLM Corporation completed an offering of $500,000,000 of 6.495% Fixed-to-Floating Rate Senior Notes due 2032. The notes pay a fixed 6.495% annual interest rate until May 15, 2031, then switch to a floating rate equal to a benchmark plus 271 basis points until maturity.

Interest is paid semi-annually during the fixed period and quarterly during the floating period. The company may redeem the notes at specified prices and must offer to repurchase them at 101% of principal plus interest upon certain change of control events.

SLM intends to use the net proceeds primarily to fund a tender offer for its 3.125% senior notes due 2026, including accrued interest and related fees, and to repay any remaining 2026 notes at maturity.

SLM Corporation, commonly known as Sallie Mae, has launched a cash tender offer for any and all of its outstanding 3.125% senior notes due November 2, 2026. The notes have $500,000,000 principal amount outstanding and carry a 3.125% coupon.

The purchase price per $1,000 principal amount will be set by adding a fixed spread of 25 basis points to the yield of the 4.125% U.S. Treasury due October 31, 2026, as quoted on the Bloomberg FIT 3 page at 2 p.m. New York City time on May 12, 2026, the current expiration time of the offer.

Holders whose notes are purchased will also receive accrued and unpaid interest to, but excluding, the expected settlement date of May 15, 2026. The tender offer is being made in connection with a contemporaneous new senior debt offering, and is conditioned on completion of that new notes offering, which will provide proceeds to repurchase tendered notes. Sallie Mae expects to repay any notes not tendered at maturity and, subject to the new notes offering and tender completion, to deposit funds with the trustee to repay remaining notes at maturity and satisfy and discharge the indenture for these notes.

SLM Corporation has furnished an investor presentation summarizing its quarter ended March 31, 2026. Private education loan originations were about $2.9 billion, a 5% increase from the year-ago quarter, and GAAP diluted earnings per common share were $1.54 on net income attributable to common stock of $304 million.

Net interest margin was 5.29% and cost of funds was 4.13%, supporting a return on common equity of 56.4%. The company sold $3.3 billion of private education loans and completed a $618 million ABS securitization.

Capital return remained a focus: SLM repurchased 12 million shares for $259 million, about 6% of shares outstanding at December 31, 2025, paid a $0.13 common dividend, and entered a $200 million accelerated share repurchase. Management highlights robust credit quality, diversified funding with $20.5 billion of deposits, and expects recent federal student loan reforms to potentially increase originations by up to 70% over several years.

SLM Corporation, commonly known as Sallie Mae, announced senior leadership changes. The Board appointed current executives Peter M. Graham and Kerri A. Palmer as Co-Presidents of the company, effective immediately. Graham will serve as Co-President and Chief Financial Officer, and Palmer as Co-President and Head of Financial Services.

Both leaders already oversee major areas of the business and will now partner, reporting to CEO Jon Witter, to align and execute the company’s strategy. The company states there are no special arrangements underlying their appointments, no new material compensation plans, and no related-party transactions or family relationships requiring disclosure.

SLM Corporation reported stronger first quarter 2026 results and raised its full-year earnings outlook. GAAP diluted earnings per common share were $1.54, up from $1.40 a year earlier, with net income of $308 million and net income attributable to common stock of $304 million.

Private Education Loan originations grew 5% from the prior-year quarter, and average loans outstanding, net, were $23.3 billion. Net interest margin was 5.29% with a 4.13% cost of funds, while non-interest expenses were $171 million, in line with company expectations. Credit performance remained within guidance, with net charge-offs of $89 million, delinquencies at 3.98%, and loans in hardship forbearance at 0.99%.

The company continued significant capital returns, repurchasing 12.0 million shares for $259 million, entering a $200 million accelerated share repurchase with an initial 8.4 million shares delivered, and paying a $0.13 dividend per share. It now expects full-year 2026 diluted earnings per common share of $3.10 to $3.20, Private Education Loan originations growth of 12% to 14%, net charge-offs of $345 to $385 million, and non-interest expenses of $750 to $780 million.

SLM Corporation announced that its wholly owned subsidiary, Sallie Mae Bank, has reached indicative terms for a potential sale of a portfolio of approximately $2 billion in private education loans. The potential transaction is expected to close in the first quarter of 2026, but remains subject to negotiation and execution of definitive documents, customary closing conditions, and any required approvals. The update is being shared in connection with CEO Jon Witter’s appearance at the 2026 RBC Capital Markets Global Financial Institutions Conference and is provided as a Regulation FD disclosure, with no assurance that the loan sale will be completed.

SLM Corporation, commonly known as Sallie Mae, entered into a $200 million accelerated share repurchase agreement with Goldman Sachs to buy back its common stock under a previously authorized $500 million repurchase program.

Goldman Sachs will deliver most of the shares shortly after execution, with the final number based on a discounted volume-weighted average stock price during the agreement term. Depending on that price, Sallie Mae could receive additional shares at settlement or may need to deliver shares or cash. The company expects the ASR to be completed before the end of the second quarter of 2026.

Before this ASR, Sallie Mae had already repurchased approximately $91 million of common stock in 2026, bringing first-quarter repurchases and commitments to nearly $300 million and signaling an aggressive approach to returning capital to shareholders.

SLM Corporation released an updated investor presentation summarizing strong fourth-quarter and full-year 2025 results. Full-year GAAP net income attributable to common stock was $729M, with GAAP diluted EPS of $3.46 and a net interest margin of 5.24%. Q4 2025 net income attributable to common stock was $229M, or $1.12 per diluted share, on private education loan originations of $1.0B in the quarter and $7.4B for the year, up from $7.0B in 2024. The company sold $5.0B of private education loans in 2025 and reported a Q4 provision for credit losses of ($19M), versus $108M in Q4 2024. Capital returns were significant, with $373M of share repurchases in 2025 at an average price of $29.02 and a newly announced 24‑month $500M 2026 share repurchase program. Return on common equity reached 34.4% for 2025, supported by a total risk-based capital ratio of 12.4% and a CET1 ratio of 11.1%.

Sallie Mae reported strong fourth-quarter and full-year 2025 results and outlined its strategy for growth and capital returns. The company generated GAAP net income attributable to common stock of $229M in Q4 2025 and $729M for 2025, with diluted EPS of $1.12 for Q4 and $3.46 for the year.

Private education loan originations reached $7.4B in 2025, up 6% from 2024, including about $1.0B in Q4. Net interest margin was 5.24% for 2025, while the efficiency ratio improved to 33.2%. Credit performance remained controlled, with full-year net charge-offs of $346M, or 2.15% of average private education loans in repayment.

The company emphasized capital returns, noting $373M of share repurchases in 2025 (12.8 million shares) and a newly announced 24‑month $500M repurchase program, alongside a quarterly common dividend of $0.13 per share in Q4. A 12.4% total risk‑based capital ratio and 11.1% CET1 ratio underscored regulatory capital strength.

SLM Corporation reported that it has released its financial results for the quarter and year ended December 31, 2025, and posted a detailed earnings presentation and press release on its investor website. These materials are furnished as Exhibits 99.1 and 99.2.

The company also announced that its Board of Directors approved a new 2026 share repurchase program authorizing the repurchase of up to $500 million of outstanding common stock, beginning January 22, 2026 and expected to run through approximately February 4, 2028. This program will operate alongside the existing 2024 share repurchase program, which was authorized for $650 million of repurchases and remains open until February 6, 2026.

Repurchases under these programs may be executed through various methods, including tender offers, open market and block purchases, accelerated share repurchases, and trading plans under Rules 10b5-1 and 10b-18. Management retains full discretion over the timing and amount of any buybacks, and the company notes that authorization does not guarantee that repurchases will occur.

SLM Corporation furnished a Regulation FD update by making its “Sallie Mae Investor Forum 2025” presentation available on its investor relations website on or about December 8, 2025, and attaching it as Exhibit 99.1. The company explains that this information, including the exhibit, is being furnished rather than filed, is not subject to Section 18 liabilities under the Exchange Act, and will only be incorporated into other SEC documents if specifically referenced.

SLM Corporation furnished an investor presentation in connection with the 2025 Stephens Annual Investment Conference. The presentation, titled "2025 Stephens Annual Investment Conference Presentation," was made available on the company’s investor website on or about November 17, 2025 and is attached as Exhibit 99.1. The information is provided under Regulation FD and is designated as "furnished," meaning it is not deemed filed for purposes of certain liability provisions under the Securities Exchange Act of 1934 or automatically incorporated into other SEC documents.

SLM Corporation furnished an Item 7.01 Regulation FD update announcing a private credit strategic partnership with KKR.

The announcement was made via a press release furnished as Exhibit 99.1. The information is furnished, not filed, under the Exchange Act and is not incorporated by reference into other SEC filings unless expressly stated.

SLM Corporation furnished an 8-K under Regulation FD announcing that two investor materials are available on its website. The company posted an “SLM Corporation Investor Presentation — Period Ended September 30, 2025” (Exhibit 99.1) and “Smart Option Student Loan Historical Performance Data — Period Ended September 30, 2025” (Exhibit 99.2). The materials are being furnished, not filed, and can be accessed via the company’s investor relations page.

SLM Corporation furnished an 8-K announcing its financial results for the quarter ended September 30, 2025. The company made its press release and related materials available on its investor website and furnished them as Exhibit 99.1.

The information under Item 2.02, including Exhibit 99.1, is being furnished and is not deemed filed for purposes of Section 18 of the Exchange Act, and is not incorporated by reference into other SEC filings except as expressly stated.

SLM Corporation has entered into a retention agreement with Donna F. Vieira, its Executive Vice President and Chief Commercial Officer. Under this agreement, she will continue serving as Chief Commercial Officer until December 31, 2025, or an earlier date if a new Chief Commercial Officer is hired, and remain an employee until April 3, 2026, when she will retire.

Subject to continued adequate performance and assisting with the transition of her duties through her retirement date, Ms. Vieira will receive a $750,000 cash retention bonus. She must provide a general release of claims and comply with customary restrictive covenants. If she resigns before April 3, 2026 or is terminated for cause, she will forfeit the retention bonus. She will not receive severance under the company’s executive severance plan, but will receive compensation and equity treatment consistent with her retirement eligibility.

SLM Corporation furnished an investor presentation in connection with the previously announced Barclays Global Financial Services Conference held on September 9, 2025. The presentation, titled the 2025 Barclays Global Financial Services Conference Presentation, has been posted on the company’s investor relations website at SallieMae.com/Investors and is attached as Exhibit 99.1. Chief Financial Officer Pete Graham is scheduled to speak to the information and updates in this deck at the conference.

The company states that the material in this report, including Exhibit 99.1, is being furnished under Regulation FD and is not deemed “filed” for purposes of the Securities Exchange Act of 1934, nor incorporated by reference into other SEC documents unless specifically referenced.

SLM Corporation made two presentations available on its investor website: "SLM Corporation Investor Presentation Period Ended June 30, 2025" and "Smart Option Student Loan Historical Performance Data — Period Ended June 30, 2025". These materials are furnished as Exhibits 99.1 and 99.2 and provide an investor slide presentation plus historical performance data for the Smart Option student loan product covering the stated period.

The filing notes that the furnished exhibits, including the Cover Page Inline XBRL (Exhibit 104), shall not be deemed "filed" for purposes of Section 18 of the Exchange Act and are not incorporated by reference into other SEC filings except by specific reference. No earnings, transactions, or additional financial statements are presented in this Item 7.01 disclosure.

SLM Corporation’s Form 8-K details the outcomes of its 2025 Annual Meeting held on 17 June 2025. Shareholders re-elected all 13 directors for one-year terms, with support levels between roughly 97% and 100%, signalling strong investor confidence in current board oversight.

The meeting also approved the 2025 Employee Stock Purchase Plan (ESPP). The proposal received 187.8 million votes FOR, only 0.65 million AGAINST, and 18 thousand ABSTAIN, while 6.9 million broker non-votes were recorded. The ESPP, attached as Exhibit 10.1, authorises the issuance of additional shares for employee participation and was previously endorsed by the board subject to shareholder approval.

In an advisory “say-on-pay” vote, 97.2% of ballots supported executive compensation (186.7 million FOR vs. 1.66 million AGAINST). In addition, shareholders ratified KPMG LLP as independent registered public accounting firm for fiscal 2025 with 98.9% approval (194.3 million FOR, 1.05 million AGAINST).

No financial results, mergers, or other strategic transactions were disclosed. Consequently, the filing represents a routine corporate-governance update with limited immediate impact on revenue, earnings, or capital structure beyond the share issuance capacity created by the ESPP.