US Market News
3週前
Sallie Mae Announces Final Results and Expiration of Tender Offer for Its 3.125% Senior Notes Due 2026May 12, 2026 6:50 PM
Business Wire Sallie Mae® (Nasdaq: SLM), formally SLM Corporation (“SLM” or the “Company”), announced today the final results and expiration of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 3.125% senior notes (the “Notes”) upon the terms and conditions described in the Company’s Offer to Purchase, dated May 6, 2026 (the “Offer to Purchase”). Capitalized terms used and not defined herein shall have the meaning ascribed to them in the Offer to Purchase. As of 5 p.m., New York City time, on May 12, 2026, the Expiration Time for the Tender Offer, the Company had received tenders for an aggregate principal amount of $448,412,000 of Notes outstanding, or 89.68% of the aggregate principal amount of Notes outstanding. These amounts exclude $226,000 aggregate principal amount of Notes that remain subject to the guaranteed delivery procedures described in the Offer to Purchase and the Notice of Guaranteed Delivery. In accordance with the terms of the Tender Offer, the Company will pay the Purchase Price for the Notes validly tendered prior to the Expiration Time or pursuant to the Notice of Guaranteed Delivery on May 15, 2026 (the “Settlement Date”). The Purchase Price for the Notes is $995.83 for each $1,000 principal amount of Notes validly tendered and accepted for purchase pursuant to the Tender Offer, plus accrued and unpaid interest on such Notes from the last interest payment date up to, but not including, the Settlement Date. For the avoidance of doubt, interest on the Notes will cease to accrue on the Settlement Date for all Notes accepted in the Tender Offer. All Notes purchased on the Settlement Date will subsequently be cancelled. There can be no assurance that any Notes will be purchased. The Tender Offer is being made in connection with a contemporaneous offering of senior debt securities by the Company on terms and conditions (including, but not limited to, the amount of proceeds raised in such offering) satisfactory to the Company (the “New Notes Offering”). The Tender Offer is not conditioned upon any minimum amount of Notes being tendered. The Tender Offer may be amended, extended, terminated or withdrawn. Proceeds from the New Notes Offering will be used to repurchase Notes pursuant to the Tender Offer. The Tender Offer is conditioned upon, among other things, the completion of the New Notes Offering, and no assurance can be given that the New Notes Offering will be completed. The Company expects to repay any Notes not tendered and accepted for purchase pursuant to the Tender Offer at their maturity. Subject to the completion of the New Notes Offering and the consummation of the Tender Offer, the Company expects to deposit with Deutsche Bank National Trust Company, as trustee funds sufficient to repay at their maturity the Notes not tendered and accepted for purchase pursuant to the Tender Offer, and thereby satisfy and discharge the indenture governing the Notes, as it applies to the Notes, shortly after the Settlement Date. The Company has retained J.P. Morgan Securities LLC to serve as the exclusive Dealer Manager for the Tender Offer. Questions regarding the terms of the Tender Offer may be directed to J.P. Morgan Securities LLC, Liability Management Desk, U.S. toll free at (866) 834-4666 or collect at (212) 834-7489. This press release is neither an offer to purchase nor a solicitation of an offer to sell any Notes in the Tender Offer and does not constitute a notice of redemption for the Notes. Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “forecast,” “medium term,” “long term,” and other similar words. Such statements include, but are not limited to, statements about SLM’s (together with its subsidiaries, “Sallie Mae”) plans, objectives, expectations, intentions, estimates and strategies for the future, and other statements that are not historical facts. These forward-looking statements are based on Sallie Mae’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, among others, those set forth in Item 1A. “Risk Factors” and elsewhere in the SLM’s most recently filed Annual Report on Form 10-K, and other risks and uncertainties discussed from time to time in the SLM’s other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which Sallie Mae is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. Sallie Mae does not assume any obligation to publicly update, revise, or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements that occur after the date such statements were made. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement. In light of these risks, uncertainties, and assumptions, you should not put undue reliance on any forward-looking statements herein. View source version on businesswire.com: https://www.businesswire.com/news/home/20260512006609/en/ Media
media@salliemae.com Investors
IR@salliemae.com Original: Sallie Mae Announces Final Results and Expiration of Tender Offer for Its 3.125% Senior Notes Due 2026
US Market News
3週前
Sallie Mae Announces Pricing Terms of Tender Offer for Its 3.125% Senior Notes Due 2026May 12, 2026 3:32 PM
Business Wire Sallie Mae® (Nasdaq: SLM), formally SLM Corporation (“SLM” or the “Company”), announced today the pricing terms of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 3.125% senior notes (the “Notes”) upon the terms and conditions described in the Company’s Offer to Purchase, dated May 6, 2026 (the “Offer to Purchase”). Set forth in the table below is the purchase price (the “Purchase Price”) for the Notes, as calculated at 2 p.m., New York City time, on May 12, 2026, in accordance with the Offer to Purchase: Title of Security CUSIP/ISIN Number Principal Amount Outstanding U.S. Treasury
Reference Security Bloomberg Reference Page Reference Yield Fixed Spread (basis points) Purchase Price 3.125% Senior Notes due 2026(1) 78442P GE0 / US78442PGE07 $500,000,000 4.125% U.S. Treasury due October 31, 2026 FIT 3 3.786% +25 $995.83 (1) The Notes will mature on Nov. 2, 2026. In addition to the Purchase Price, holders whose Notes are purchased pursuant to the Tender Offer will also receive accrued and unpaid interest thereon from the last interest payment date up to, but not including, the settlement date on which the Company makes payment for such Notes, which date is currently expected to be May 15, 2026, assuming that the Tender Offer is not extended or earlier terminated. The Tender Offer is being made pursuant to the terms and conditions contained in the Offer to Purchase and Notice of Guaranteed Delivery, copies of which may be obtained from D.F. King & Co., Inc., the tender agent and information agent for the Tender Offer, by calling (888) 626-0988 or, for banks and brokers, (212) 269-5550. Copies of the Offer to Purchase and Notice of Guaranteed Delivery are also available at the following web address: www.dfking.com/slm; or by requesting via email at slm@dfking.com. The Tender Offer will expire at 5 p.m., New York City time, on May 12, 2026, unless extended or earlier terminated (such time and date, as the same may be extended, the “Expiration Time”). Tendered Notes may be withdrawn at any time before the Expiration Time. Holders of Notes must validly tender and not validly withdraw their Notes (or comply with the procedures for guaranteed delivery) before the Expiration Time to be eligible to receive the consideration for their Notes. Settlement for all Notes tendered prior to the Expiration Time or pursuant to a Notice of Guaranteed Delivery is expected to be May 15, 2026, assuming that the Tender Offer is not extended or earlier terminated. There can be no assurance that any Notes will be purchased. The Tender Offer is being made in connection with a contemporaneous offering of senior debt securities by the Company on terms and conditions (including, but not limited to, the amount of proceeds raised in such offering) satisfactory to the Company (the “New Notes Offering”). The Tender Offer is not conditioned upon any minimum amount of Notes being tendered. The Tender Offer may be amended, extended, terminated or withdrawn. Proceeds from the New Notes Offering will be used to repurchase Notes pursuant to the Tender Offer. The Tender Offer is conditioned upon, among other things, the completion of the New Notes Offering, and no assurance can be given that the New Notes Offering will be completed. The Company expects to repay any Notes not tendered and accepted for purchase pursuant to the Tender Offer at their maturity. Subject to the completion of the New Notes Offering and the consummation of the Tender Offer, the Company expects to deposit with Deutsche Bank National Trust Company, as trustee funds sufficient to repay at their maturity the Notes not tendered and accepted for purchase pursuant to the Tender Offer, and thereby satisfy and discharge the indenture governing the Notes, as it applies to the Notes, shortly after the Settlement Date. The Company has retained J.P. Morgan Securities LLC to serve as the exclusive Dealer Manager for the Tender Offer. Questions regarding the terms of the Tender Offer may be directed to J.P. Morgan Securities LLC, Liability Management Desk, U.S. toll free at (866) 834-4666 or collect at (212) 834-7489. This press release is neither an offer to purchase nor a solicitation of an offer to sell any Notes in the Tender Offer and does not constitute a notice of redemption for the Notes. Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “forecast,” “medium term,” “long term,” and other similar words. Such statements include, but are not limited to, statements about SLM’s (together with its subsidiaries, “Sallie Mae”) plans, objectives, expectations, intentions, estimates and strategies for the future, and other statements that are not historical facts. These forward-looking statements are based on Sallie Mae’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, among others, those set forth in Item 1A. “Risk Factors” and elsewhere in the SLM’s most recently filed Annual Report on Form 10-K, and other risks and uncertainties discussed from time to time in the SLM’s other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which Sallie Mae is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. Sallie Mae does not assume any obligation to publicly update, revise, or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements that occur after the date such statements were made. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement. In light of these risks, uncertainties, and assumptions, you should not put undue reliance on any forward-looking statements herein. Category: Corporate and Financial View source version on businesswire.com: https://www.businesswire.com/news/home/20260512751705/en/ Media
media@salliemae.com Investors
IR@salliemae.com
Original: Sallie Mae Announces Pricing Terms of Tender Offer for Its 3.125% Senior Notes Due 2026
US Market News
4週前
Sallie Mae Expands Access to Responsible Financing For Students Pursuing Graduate and Law DegreesMay 7, 2026 3:17 PM
Business Wire Company Offers Competitive Interest Rates, No Origination Fees, and Multiple Repayment Options Ahead of Changes to Federal Student Loan Program Expanded Access to Graduate and Law Loans Follow Recent Enhancements to Medical School and Dental School Financing Options Sallie Mae (Nasdaq: SLM) today announced expanded access to responsible financing for students pursuing graduate and law degrees. The Sallie Mae ® Graduate Loan and Sallie Mae ® Law School Loan offer competitive interest rates, no origination fees, and multiple repayment options during school, and can cover up to 100% of the school-certified cost of attendance. Graduate and professional programs vary in cost, length, and structure, and many students rely on borrowing to fill gaps after scholarships, grants, and federal financial aid. Sallie Mae has made enhancements so that more qualified students may access funding and designed its graduate and law school loans to help students cover school costs, including tuition, fees, and living expenses. These enhancements build on Sallie Mae’s market-leading graduate-degree loan options, including recent updates to its Medical School Loan and Dental School Loan. Graduate and Law School Loans Designed for Advanced Degree Programs and Timelines
Sallie Mae’s Graduate Loan and Law School Loan share core features, including: Ability to prequalify with no impact on credit scores, allowing students to check eligibility and receive an estimated rate before applying. Repayment flexibility, including up to 12 months of interest-only payments, allowing students to ease into repayment as they transition into their careers. Cosigner release option, allowing qualified borrowers to apply for cosigner release after meeting graduation, on-time payment, and other eligibility requirements. Dedicated graduate and professional student support teams, with experience supporting advanced degree timelines and requirements. 100% U.S.-based loan servicing, providing support from application through repayment. Graduate Loan Options for a Range of Programs
The Sallie Mae Graduate Loan supports students pursuing master’s, doctoral, and professional degrees, as well as select graduate certificate programs at participating schools. The loan offers a six-month grace period after graduation and up to 48 months of deferment for qualifying internships, residencies, or fellowships, giving students time and flexibility before full payments begin. Law School Loan Features Designed for Legal Education and Bar Preparation
The Sallie Mae Law School Loan is built specifically for the law school journey, recognizing the unique costs and career timelines law students face, from coursework and clerkships to bar exam preparation. Repayment terms include a nine-month grace period after graduation and up to 48 months of deferment for qualifying clerkships or internships. Qualifying law students may also apply for the Sallie Mae® Bar Study Loan to help cover bar exam preparation costs. “Students pursuing advanced degrees need a financing partner they can rely on, especially as they navigate changes to federal student loan programs,” said Patrick Freeman, Senior Vice President, Sallie Mae. “We’ve long been a trusted name in responsible student financing, and we’re well prepared to support more students with options to help them confidently access and complete their graduate education programs.” How Sallie Mae Supports Graduate Student Success Beyond Financing
In addition to responsible private student loans and savings products, Sallie Mae offers free tools and guidance through Sallie to help students and families navigate the higher education journey with confidence. Sallie represents the broader brand that brings those financial products together with a growing set of resources to support students and families at every step, from planning and saving to paying for school, including: The $5,000 Graduate School No Essay Scholarship, awarded quarterly through a short application. Scholly ® Scholarship Search, which helps students find and apply for scholarships aligned with their background and goals, including nearly 2,000 scholarships for graduate students. The Bridging the Dream Scholarship for Graduate Students, available June 1 and offered through The Sallie Mae Fund, which will award 20 scholarships this year worth $200,000. To learn more about Sallie Mae’s graduate and professional school loan options, visit SallieMae.com. Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America. Category: Student Loans View source version on businesswire.com: https://www.businesswire.com/news/home/20260507216481/en/ Katarina Ellison
Katarina.Ellison@salliemae.com Original: Sallie Mae Expands Access to Responsible Financing For Students Pursuing Graduate and Law Degrees
US Market News
1月前
Sallie Mae Announces Tender Offer for Its 3.125% Senior Notes Due 2026May 6, 2026 8:55 AM
Business Wire Sallie Mae® (Nasdaq: SLM), formally SLM Corporation (“SLM” or the “Company”) announced today the commencement of a cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 3.125% senior notes (the “Notes”) upon the terms and conditions described in the Company’s Offer to Purchase, dated May 6, 2026 (the “Offer to Purchase”). Certain information regarding the Notes and the U.S. Treasury Reference Security, the Bloomberg reference page and the fixed spread is set forth in the table below. Title of
Security CUSIP/ISIN
Number Principal
Amount
Outstanding U.S. Treasury
Reference
Security Bloomberg
Reference
Page Fixed
Spread
(basis
points) 3.125% Senior
Notes due
2026(1) 78442P GE0 /
US78442PGE07 $500,000,000 4.125% U.S. Treasury due October 31, 2026 FIT 3 +25 ______ (1) The Notes will mature on Nov. 2, 2026. The “Purchase Price” for each $1,000 principal amount of the Notes validly tendered, and not validly withdrawn, and accepted for purchase pursuant to the Tender Offer will be determined in the manner described in the Offer to Purchase by reference to the fixed spread specified above plus the yield based on the bid-side price of the U.S. Treasury Reference Security specified above, as quoted on the Bloomberg Bond Trader FIT 3 series of pages, at 2 p.m. New York City time, on May 12, 2026, the date on which the Tender Offer is currently scheduled to expire. The Purchase Price will be based on a yield to Nov. 2, 2026, the maturity date of the Notes, and assuming the Notes mature on such date, as described in the Offer to Purchase. In addition to the Purchase Price, holders whose Notes are purchased pursuant to the Tender Offer will also receive accrued and unpaid interest thereon from the last interest payment date up to, but not including, the initial date on which the Company makes payment for such Notes, which date is currently expected to be May 15, 2026, assuming that the Tender Offer is not extended or earlier terminated. The Tender Offer is being made pursuant to the terms and conditions contained in the Offer to Purchase and Notice of Guaranteed Delivery, copies of which may be obtained from D.F. King & Co., Inc., the tender agent and information agent for the Tender Offer, by calling (888) 626-0988 or, for banks and brokers, (212) 269-5550. Copies of the Offer to Purchase and Notice of Guaranteed Delivery are also available at the following web address: www.dfking.com/slm; or by requesting via email at slm@dfking.com. The Tender Offer will expire at 5 p.m., New York City time, on May 12, 2026, unless extended or earlier terminated (such time and date, as the same may be extended, the “Expiration Time”). Tendered Notes may be withdrawn at any time before the Expiration Time. Holders of Notes must validly tender and not validly withdraw their Notes (or comply with the procedures for guaranteed delivery) before the Expiration Time to be eligible to receive the consideration for their Notes. Settlement for all Notes tendered prior to the Expiration Time or pursuant to a Notice of Guaranteed Delivery is expected to be May 15, 2026, assuming that the Tender Offer is not extended or earlier terminated. There can be no assurance that any Notes will be purchased. The Tender Offer is being made in connection with a contemporaneous offering of senior debt securities by the Company on terms and conditions (including, but not limited to, the amount of proceeds raised in such offering) satisfactory to the Company (the “New Notes Offering”). The Tender Offer is not conditioned upon any minimum amount of Notes being tendered. The Tender Offer may be amended, extended, terminated or withdrawn. Proceeds from the New Notes Offering will be used to repurchase Notes pursuant to the Tender Offer. The Tender Offer is conditioned upon, among other things, the completion of the New Notes Offering, and no assurance can be given that the New Notes Offering will be completed. The Company expects to repay any Notes not tendered and accepted for purchase pursuant to the Tender Offer at their maturity. Subject to the completion of the New Notes Offering and the consummation of the Tender Offer, the Company expects to deposit with Deutsche Bank National Trust Company, as trustee funds sufficient to repay at their maturity the Notes not tendered and accepted for purchase pursuant to the Tender Offer, and thereby satisfy and discharge the indenture governing the Notes, as it applies to the Notes, shortly after the Settlement Date. The Company has retained J.P. Morgan Securities LLC to serve as the exclusive Dealer Manager for the Tender Offer. Questions regarding the terms of the Tender Offer may be directed to J.P. Morgan Securities LLC, Liability Management Desk, U.S. toll free at (866) 834-4666 or collect at (212) 834-7489. This press release is neither an offer to purchase nor a solicitation of an offer to sell any Notes in the Tender Offer and does not constitute a notice of redemption for the Notes. Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “forecast,” “medium term,” “long term,” and other similar words. Such statements include, but are not limited to, statements about SLM’s (together with its subsidiaries, “Sallie Mae”) plans, objectives, expectations, intentions, estimates and strategies for the future, and other statements that are not historical facts. These forward-looking statements are based on Sallie Mae’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, among others, those set forth in Item 1A. “Risk Factors” and elsewhere in the SLM’s most recently filed Annual Report on Form 10-K, and other risks and uncertainties discussed from time to time in the SLM’s other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which Sallie Mae is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. Sallie Mae does not assume any obligation to publicly update, revise, or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements that occur after the date such statements were made. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement. In light of these risks, uncertainties, and assumptions, you should not put undue reliance on any forward-looking statements herein. Category: Corporate and Financial View source version on businesswire.com: https://www.businesswire.com/news/home/20260505081048/en/ Media
media@salliemae.com Investors
IR@salliemae.com Original: Sallie Mae Announces Tender Offer for Its 3.125% Senior Notes Due 2026
US Market News
1月前
New Sallie Mae and Ipsos Study Finds Overwhelming Majority of High School Students Plan to Continue Their Education After GraduationMay 5, 2026 11:30 AM
Business Wire ‘How America Plans for College 2026’ Shows More Families Are Planning and Saving for College, and Eight in 10 Families Believe It’s Worth the Cost Nearly all high school students (95%) say they plan to continue their education after graduation, 90% of those families believe it's an investment in the student's future, and 82% say it’s worth the cost, according to How America Plans for College 2026, a new national study from Sallie Mae and Ipsos. The survey of more than 2,000 U.S. high school students and parents of high school students found 83% of families considering higher education are willing to stretch financially for the best higher education opportunities and nearly three in four families (73%) say they would rather borrow than forgo attending. At the same time, most families (68%) agree there should be limits to how much debt federal student loan borrowers can take on, while just 10% disagree. “The shift we’ve seen since the last time we conducted this study in 2020 reflects meaningful progress in how families are preparing for education after high school,” said Dan O’Leary, Senior Research Manager, Ipsos. “Families are motivated and engaged in the planning process, but that hasn’t consistently translated into more informed decision-making.” The study offers additional insights into how families are approaching planning for education after high school. How Are Families Planning for College?
Nearly two-thirds of families (64%) say they have a plan to pay for higher education, up from 54% in 2020. In addition, more than four in 10 high school students who plan to pursue a college degree (44%) say they are already planning for graduate school. Six in 10 families considering higher education (60%) have savings set aside, with average savings of $42,307, up from $26,266 in 2020, driven primarily by higher-income families. Most families that have saved for higher education continue to rely on general savings accounts (53%) over tax-advantaged 529 college savings accounts (39%). What Does Early College Preparation Look Like and What’s Still Missing?
Eighty-five percent of high school families considering higher education say they have taken steps to prepare, up from 77% in 2020, and more than half of students (55%) say they have at least a general idea of the field they want to pursue. However, fewer than four in 10 families say they have discussed key outcomes of higher education, including expected salaries in a student’s field of interest (38%), potential earnings compared with the cost of education (28%), and career placement rates (28%). Where Do Families Still Need Clarity About Paying for College?
Among families considering higher education, 40% say they feel they are on their own when it comes to planning and paying for college and gaps in understanding persist across key areas. Nearly half (48%) of families believe scholarships are only available to students with exceptional grades, and just 37% know that families often pay less than the advertised sticker price for college. Just 22% know when student loan interest typically begins to accrue. “Families continue to believe higher education is worth the investment, and their actions reflect that confidence,” said Rick Castellano, Vice President, Sallie Mae. “They’re planning earlier and saving more, but families could also benefit from clearer conversations about long-term outcomes to ensure their investment pays off long after graduation.” In addition to responsible private student loans and savings products, Sallie Mae offers guidance and tools through Sallie to help students and families navigate the higher education journey with confidence. Sallie represents the broader brand that brings those financial products together with a growing set of resources to support students and families at every step, from planning and saving to paying for school. For more information on the study, visit SallieMae.com. Methodology: How America Plans for College 2026 is based on 2,010 online interviews conducted by Ipsos from January 21–27, 2026, among 1,005 U.S. parents of high school students and 1,005 U.S. high school students ages 14–18. For more details on methodology, sampling, weighting, and credibility intervals, see the full report. Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America. Ipsos is a global independent market research company ranking third worldwide among research firms. At Ipsos, we are passionately curious about people, markets, brands, and society. We make our changing world easier and faster to navigate and inspire clients to make smarter decisions. We deliver research with security, speed, simplicity, and substance. We believe it’s time to change the game — it’s time for Game Changers! Visit https://www.ipsos.com/en-us to learn more. Category: Research View source version on businesswire.com: https://www.businesswire.com/news/home/20260505606778/en/ Katarina Ellison
katarina.ellison@salliemae.com Original: New Sallie Mae and Ipsos Study Finds Overwhelming Majority of High School Students Plan to Continue Their Education After Graduation
US Market News
1月前
College Decision Day Is Here: What Students and Families Should Know About Paying for CollegeMay 1, 2026 1:11 PM
Business Wire
Sallie Mae Shares Guidance to Help Students Make Confident, Informed College Financing Decisions
High school seniors across the country are celebrating College Decision Day by making the long-anticipated commitment on where to attend college this fall. For many families, however, the decision isn’t only about where to go—it’s also about what that choice means financially and for long-term success.
Cost remains one of the most influential factors in college selection, but it doesn’t tell the whole story. Families are also weighing overall fit and outcomes. Sallie Mae offers the following guidance on what to consider when choosing a college, university, or program after high school:
Start with outcomes in mind.
Families should consider academic support, campus engagement, and career resources, along with outcomes like graduation rates, career paths, and earnings by major. Finding the right fit can help students stay engaged, motivated, and on track to finish strong. Comparing schools and programs based on outcomes can help lead to smarter, more confident decisions.
Understand the full cost.
The true cost of college includes tuition, housing, meals, books, transportation, and everyday expenses. This is the moment to review financial aid offers carefully to understand what’s free and what needs to be repaid. A clear view of financial aid helps families plan realistically and avoid surprises later.
Go after free money – and keep it in play.
Scholarships and grants can significantly lower out-of-pocket costs. Applying early and often—even for smaller awards—can add up over time and reduce how much students need to borrow. Free tools like Scholly® Scholarships can help students find and apply for thousands of scholarships aligned with their interests, background, and goals.
If there’s a gap, borrow smart.
After scholarships, grants, and federal financial aid, some families may still have a funding gap. Explore all options and borrow only what's needed. A responsible private student loan can help families cover remaining costs.
“College Decision Day is exciting, but it’s also when big-picture decisions come into sharper focus,” said Rick Castellano, Vice President, Sallie Mae. “As students and families approach this next chapter, understanding not only the full cost of college but also considering goals after graduation can go a long way in setting students up for success now and in the future.”
For additional free college planning tools and resources visit Sallie.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Category: Financial Literacy
View source version on businesswire.com: https://www.businesswire.com/news/home/20260501901429/en/
Caron Jackson
302.304.3041
caron.jackson@salliemae.com
Original: College Decision Day Is Here: What Students and Families Should Know About Paying for College
US Market News
1月前
Scholly and Path Founder Files Whistleblower Lawsuit Against Sallie Mae, Alleging the Company Is Using a Shell Company to Sell Millions of Students' DataApril 29, 2026 10:53 AM
PR Newswire (US)
Complaint alleges Sallie Mae established a plan and scheme to circumvent federal data-privacy protections related to the use and disclosure of student data, and retaliated against the executive who reported it.WILMINGTON, Del., April 29, 2026 /PRNewswire/ -- Christopher Gray, founder of scholarship-matching platform Scholly and current CEO of AI test-prep platform Path, has filed a whistleblower and data-privacy lawsuit against SLM Corporation (NASDAQ: SLM), the parent company of Sallie Mae Bank, and its non-bank subsidiary SLM Education Services, LLC, in Delaware Superior Court. The complaint alleges that Sallie Mae built a deliberate corporate structure to sell the personal data of millions of students, including minors, while evading the federal privacy law that would otherwise prohibit it.
At the heart of the complaint is a two-entity structure. Salliemae.com is operated by Sallie Mae Bank, a federally regulated, FDIC-insured bank covered by the Gramm-Leach-Bliley Act (GLBA), which prohibits banks from selling nonpublic personal financial information. Sallie.com website is almost identical, holds the same branding, including logo and brand colors, but is operated by a different entity: SLM Education Services, LLC, a non-bank subsidiary not subject to those restrictions. Sallie.com's publicly posted privacy policy states, in the company's own words, that it "sells" and "shares" personal information, including sensitive personal information, for advertising and marketing purposes.The complaint alleges this architecture was designed to circumvent GLBA, which prohibits a financial institution from disclosing nonpublic personal information to nonaffiliated third parties, directly or through any affiliate.The impact of this scheme reaches millions of users. On March 4, 2026, Sallie Mae publicly launched Backpack Media, an advertising platform operated through SLM Education Services. Its marketing materials offer brands access to an audience of "8.5 million students, families, and young professionals", most of them are minors looking for student loans and scholarships.Gray has also filed a formal whistleblower complaint with the U.S. Securities and Exchange Commission's Office of the Whistleblower regarding the matters at issue in the litigation. By making these filings, Gray is protected under the anti-retaliation provisions of the Delaware Whistleblowers' Protection Act and Section 21F of the Securities Exchange Act, as amended by the Dodd-Frank Act. Any further retaliatory conduct by Sallie Mae, including continued pressure on Gray, his current company, or his former Scholly shareholders, is itself actionable under both statutes and subject to additional federal and state penalties.Sallie Mae acquired Scholly in June 2023, and Gray joined the company as a senior executive. According to the complaint, he discovered the data-monetization plan and raised concerns internally. Executives knew Gray was planning to bring those concerns directly to Sallie Mae CEO Jon Witter at a breakfast meeting scheduled through the CEO's office. He was abruptly terminated before that meeting could take place.After the termination, Sallie Mae's Chief Legal Officer, Nicholas Jafarieh, met with Gray's counsel. According to the complaint, he admitted the company "handled [Gray's] termination wrong." In the same meeting, he warned that Gray did not "want to make an enemy" of the company.As alleged in the complaint, in the lead-up to the filing, Sallie Mae made repeated threats to compel Gray's claims into private, confidential arbitration to keep the allegations off the public record. When that pressure failed and Gray filed his complaint in open court on April 13, the company escalated in a different direction. Its outside counsel sent a demand letter to Gray's former Scholly shareholders and explicitly tied a threat of financial clawback to Gray's communications with the press."I built Scholly to help students access money for college, not to help a bank sell their personal information to advertisers," Gray said. "When I saw what was happening inside Sallie Mae, I reported it. What followed was a campaign to keep the matter out of public view — their response was to fire me, threaten me, and try to silence me. Sallie Mae borrowers and employees are typically bound by mandatory arbitration agreements that keep disputes out of open court. This case is different as I'm protected, I can speak and I will."The complaint is a matter of public record in Delaware Superior Court. A copy is available upon request.Christopher Gray is the founder of Scholly, a scholarship-matching platform that grew to 5 million users and helped students access more than $100 million in scholarship funding. Gray appeared on ABC's Shark Tank in 2015 and 2024 and was named to the Forbes 30 Under 30 list. Originally from Birmingham, Alabama, Gray won approximately $1 million in scholarships to attend college which inspired him to create Scholly. He is currently the founder and CEO of Path, an AI-powered test-prep platform for K-12 students. He is represented in this matter by Allen and Associates.Path is an AI-powered test prep platform founded by Christopher Gray. The platform offers AI-driven test preparation for K-12 state exams, college admissions, and professional certifications.
View original content to download multimedia:https://www.prnewswire.com/news-releases/scholly-and-path-founder-files-whistleblower-lawsuit-against-sallie-mae-alleging-the-company-is-using-a-shell-company-to-sell-millions-of-students-data-302757439.htmlSOURCE Christopher Gray
Original: Scholly and Path Founder Files Whistleblower Lawsuit Against Sallie Mae, Alleging the Company Is Using a Shell Company to Sell Millions of Students' Data
US Market News
2月前
Understanding Financial Aid Offer Letters: What College-Bound Families Need to KnowApril 16, 2026 1:00 PM
Business Wire
Sallie Mae Offers Guidance and Free Resources to Compare Financial Aid Offers
Each spring, students and families reach one of the most important milestones in the college decision process: receiving financial aid offer letters from colleges and universities. Sent after a student is accepted and completes the Free Application for Federal Student Aid (FAFSA®), these letters outline the mix of scholarships, grants, school, state-based, or federal aid a student is being offered — and are often the primary way families estimate what college may cost and compare schools.
While these letters provide critical information, differences in terminology and how information is presented often make it harder for families to compare options and understand the full picture. In fact, only 36% of families said their offer included the full cost of attendance, and just 27% of offer letters clearly outlined expected out-of-pocket costs. In addition, one in five families (20%) were unaware that loans could be included in their aid package, and 19% believed that any loans offered had to be used.
“Choosing a college is one of the biggest financial decisions a family will make, and they need clear, easy-to-compare information to make that choice with confidence,” said Rick Castellano, Vice President, Sallie Mae. “Greater clarity, consistency, and transparency in financial aid offer letters around costs, including what’s free and what needs to be repaid, would go a long way in helping families make informed choices and ultimately support better outcomes.”
Important tips for helping students and families understand and compare financial aid offer letters:
The biggest financial aid offer might not be the best. Look beyond the total dollar amount and focus on how much of an offer is scholarships and grants versus money you’ll need to repay. In many cases, a smaller financial aid offer with more free money can cost less over time than a larger package built around loans or higher out-of-pocket costs.
Understand the lingo. You may notice schools use different terms for the same thing. For example, you might see federal loans listed as a “federal direct unsubsidized loan,” “federal loan,” a “direct loan,” “direct unsub,” or even just “L.” Take the time to understand exactly what is being offered, and if you have questions, don’t hesitate to contact the school’s financial aid office.
Accept only what you need. You are not required to accept everything that’s included within your financial aid offer. After you’ve established your plan to pay for college, only accept the types and amounts of aid you need, and make sure to respond to your school before the deadline.
Pay attention to the details and ask questions early. Some scholarships and grants may depend on academic performance or enrollment status and may not be guaranteed each year. Financial aid offices can help clarify unclear terms and explain how an offer may change year to year.
It’s okay to negotiate. Before responding to a financial aid offer, students and families can contact the school’s financial aid office if their financial situation has changed and learn whether their offer can be reconsidered.
Frequently Asked Questions About Financial Aid:
How can families determine the actual cost of college? Families should start by understanding the full cost of attendance, including tuition, fees, room, and board, before subtracting grants and scholarships. Comparing offers side by side and asking schools to clarify unclear items can help families better understand the remaining cost — or “gap” — they may need to plan for.
What is the difference between “free money” and a loan? Scholarships and grants are considered “free money” because they typically do not need to be repaid, while loans are a tool families may use if additional funding is needed. Families are encouraged to prioritize free money first and borrow only what fits their plan. Exploring scholarships early — and continuing to search throughout college — can help reduce how much students may need to borrow. Families can also explore options such as Sallie’s monthly $2,000 No Essay Scholarship, quarterly $5,000 Grad School No Essay Scholarship, and Scholly Easy Apply.
Where can families go for help or more information about financial aid? College financial aid and admissions offices can help explain offer details and how costs may change year to year. School counselors are also a valuable resource and online guides provide additional support to help families know what questions to ask and how to compare offers with confidence.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Category: Financial Literacy
View source version on businesswire.com: https://www.businesswire.com/news/home/20260416440094/en/
Caron Jackson
302.304.3041
caron.jackson@salliemae.com
Original: Understanding Financial Aid Offer Letters: What College-Bound Families Need to Know
US Market News
3月前
Sallie Mae® Expands Graduate Loan Options For Medical and Dental StudentsMarch 17, 2026 9:30 AM
Business Wire
New Offerings Expand Access to Responsible Financing and Flexible Repayment Options
Company Increases Scholarship Opportunities For Graduate Students
Sallie Mae (Nasdaq: SLM) today announced new and expanded graduate loan options for medical and dental students, supporting students from the first year of school through the transition into clinical practice. The enhanced offerings expand credit eligibility for qualified students and provide responsible financing with competitive interest rates, no origination or application fees, and flexible repayment options that reflect the longer training timelines and financial considerations of advanced health care education.
Medical and dental students face rigorous, multiyear training paths. Sallie Mae’s expanded graduate loan options are designed to support that journey, allowing students to cover up to 100% of school-certified costs, including tuition, supplies, and living expenses, and helping ease financial pressure during school and residency while providing a clearer, more manageable transition into repayment.
Designed Around the Needs of Medical and Dental Students
Sallie Mae’s expanded graduate loan options include:
Flexible in-school repayment options for medical and dental students, with the ability to defer payments, make interest-only payments, or pay a fixed amount each month while enrolled and during the grace period.
Industry-first extended grace period allowing eligible medical students up to 96 months before full payments begin, with no principal and interest payments. This includes a 48-month medical school grace period and up to 48 months of additional deferment during the student’s residency. Eligible dental students receive a 12-month grace period after graduation, along with up to 48 months of deferment during residency.
Ability to prequalify with no impact on credit scores, allowing students to check eligibility and get an estimated rate.
Dedicated graduate and professional student support teams experienced in medical and dental education timelines.
100% U.S.-based loan servicing, providing end-to-end support from application through repayment.
“The federal student loan landscape is evolving and graduate students are looking for a trusted, reliable partner who understands their unique needs and can help them responsibly fund their education,” said Patrick Freeman, Senior Vice President, Sallie Mae. “As the market leader in private student lending with a proven track record of customer success, we are well positioned to help even more students access and complete their graduate school programs.”
How Sallie Mae Supports Student Success Beyond Student Loans
Beyond responsible graduate school financing, Sallie Mae offers free tools and scholarship resources through Sallie to help students plan for and manage the cost of advanced education, including:
The $5,000 Grad School No Essay Scholarship, awarded quarterly through a short application that students can complete in minutes.
Scholly Scholarships, which helps students find and apply for scholarships aligned with their background and goals, including nearly 1,600 scholarships for graduate students.
The Bridging the Dream Scholarship for Graduate Students, offered through The Sallie Mae Fund in partnership with Thurgood Marshall College Fund, which has awarded $500,000 to graduate students since 2021.
In addition to supporting medical and dental students, Sallie Mae offers a full suite of graduate loan products. To learn more about Sallie Mae’s medical and dental school loan options, visit SallieMae.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Category: Corporate and Financial
View source version on businesswire.com: https://www.businesswire.com/news/home/20260317933495/en/
Katarina Ellison
571.396.2009
Katarina.Ellison@salliemae.com
Original: Sallie Mae® Expands Graduate Loan Options For Medical and Dental Students
US Market News
3月前
The Sallie Mae Fund Now Accepting Applications for Bridging the Dream Scholarship for High School SeniorsMarch 16, 2026 3:00 PM
Business Wire
Up to $300,000 Available to Help 30 High School Seniors Access Higher Education
The Sallie Mae Fund is now accepting applications for the 2026–27 Bridging the Dream Scholarship for High School Seniors.
The Sallie Mae Fund’s Bridging the Dream Scholarship for High School Seniors, administered by Thurgood Marshall College Fund (TMCF), provides 30 high school students up to $10,000 each to help pay for higher education. Applicants must be Pell-Grant eligible high school seniors planning to attend an accredited two- or four-year college or an eligible certificate or technical program.
“Deciding what comes after high school is one of the most important financial and personal decisions students will make,” said Nic Jafarieh, Executive Vice President, Sallie Mae. “Through our Bridging the Dream Scholarship Program, we’re investing in students’ success and helping make higher education more accessible and affordable.”
“We believe talent should never be limited by financial circumstance,” said Dr. Harry L. Williams, President and CEO of Thurgood Marshall College Fund. “Together with The Sallie Mae Fund, we’re helping high school seniors across the country access the resources they need to pursue higher education and take the next step toward a brighter future.”
The Sallie Mae Fund has awarded nearly $5 million in scholarships helping more than 1,300 students access and complete higher education. In addition to the Bridging the Dream Scholarship Program, Sallie Mae offers free tools and resources to help families plan and pay for higher education, including Scholly Scholarships, a monthly $2,000 No Essay Scholarship, a quarterly $5,000 Grad School No Essay Scholarship, and Scholly Easy Apply.
The application window for the Bridging the Dream Scholarship for High School Seniors is open through April 24, 2026. Apply today at SallieMae.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Category: Community and Philanthropy
View source version on businesswire.com: https://www.businesswire.com/news/home/20260316951248/en/
Caron Jackson
302.304.3041
caron.jackson@salliemae.com
Original: The Sallie Mae Fund Now Accepting Applications for Bridging the Dream Scholarship for High School Seniors
US Market News
3月前
Sallie Mae Successfully Prices First Student Loan ABS of the YearMarch 3, 2026 7:10 PM
Business Wire
Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today announced the successful pricing of the first student loan asset-backed securities (ABS) transaction of the year by Sallie Mae Bank. The $618 million transaction was met with robust investor demand following its formal announcement earlier this week, resulting in broad distribution across a diverse institutional investor base.
Investor engagement throughout the marketing process validated the continued attractiveness of seasoned private education loan assets supported by Sallie Mae’s underwriting, servicing, and performance track record. The transaction’s pricing strength underscores the demand for high-quality collateral even in volatile market conditions.
“This transaction demonstrates strong investor demand, confidence in our private student loans, and in our credit performance funding strategy,” said Pete Graham, Chief Financial Officer, Sallie Mae. “Achieving tighter pricing than our last on-balance sheet ABS deal despite ongoing market dislocation underscores the strength of our platform, and the durability of student loans as an asset class.”
The successful pricing supports Sallie Mae’s diversified funding approach and reinforces its position as a programmatic issuer in the student loan ABS market.
For more information, visit Salliemae.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Category: Corporate and Financial
View source version on businesswire.com: https://www.businesswire.com/news/home/20260303071293/en/
Media
Rick Castellano
302.451.2541
rick.castellano@salliemae.com
Investors
Kate deLacy
571.438.9574
kate.delacy@salliemae.com
Original: Sallie Mae Successfully Prices First Student Loan ABS of the Year
US Market News
4月前
SLM LAWSUIT ALERT: The Gross Law Firm Notifies SLM Corporation Investors of a Class Action Lawsuit and Upcoming DeadlineFebruary 12, 2026 3:00 PM
PR Newswire (US)
NEW YORK, Feb. 12, 2026 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of SLM Corporation (NASDAQ: SLM).
Shareholders who purchased shares of SLM during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/slm-corporation-loss-submission-form/?id=183504&from=4CLASS PERIOD: July 25, 2025 to August 14, 2025ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) SLM was experiencing a significant increase in early stage delinquencies; (ii) accordingly, defendants overstated the effectiveness of SLM's loss mitigation and/or loan modification programs, as well as the overall stability of the Company's private education loan delinquency rates; and (iii) as a result, defendants' public statements made a materially false and misleading impression regarding SLM's business, operations, and prospects at all relevant times.DEADLINE: February 17, 2026 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/slm-corporation-loss-submission-form/?id=183504&from=4NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of SLM during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is February 17, 2026. There is no cost or obligation to you to participate in this case.WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg @bback
View original content to download multimedia:https://www.prnewswire.com/news-releases/slm-lawsuit-alert-the-gross-law-firm-notifies-slm-corporation-investors-of-a-class-action-lawsuit-and-upcoming-deadline-302686598.htmlSOURCE The Gross Law Firm
Original: SLM LAWSUIT ALERT: The Gross Law Firm Notifies SLM Corporation Investors of a Class Action Lawsuit and Upcoming Deadline
US Market News
4月前
Class Action Filed Against SLM Corporation (SLM) - February 17, 2026 Deadline to Join - Contact The Gross Law FirmFebruary 5, 2026 9:00 AM
PR Newswire (US)
NEW YORK, Feb. 5, 2026 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of SLM Corporation (NASDAQ: SLM).
Shareholders who purchased shares of SLM during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/slm-corporation-loss-submission-form/?id=183349&from=4 CLASS PERIOD: July 25, 2025 to August 14, 2025ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) SLM was experiencing a significant increase in early stage delinquencies; (ii) accordingly, defendants overstated the effectiveness of SLM's loss mitigation and/or loan modification programs, as well as the overall stability of the Company's private education loan delinquency rates; and (iii) as a result, defendants' public statements made a materially false and misleading impression regarding SLM's business, operations, and prospects at all relevant times.DEADLINE: February 17, 2026 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/slm-corporation-loss-submission-form/?id=183349&from=4 NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of SLM during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is February 17, 2026. There is no cost or obligation to you to participate in this case.WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg @bback
View original content to download multimedia:https://www.prnewswire.com/news-releases/class-action-filed-against-slm-corporation-slm---february-17-2026-deadline-to-join--contact-the-gross-law-firm-302679843.htmlSOURCE The Gross Law Firm
Original: Class Action Filed Against SLM Corporation (SLM) - February 17, 2026 Deadline to Join - Contact The Gross Law Firm
US Market News
4月前
Sallie Mae Names Steve Turner Chief Technology and Enablement OfficerFebruary 2, 2026 2:00 PM
Business Wire
Veteran Technology Executive to Lead Digital Transformation and Data Strategy
Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, today announced it has appointed Steve Turner, Chief Technology and Enablement Officer. In this role, Turner will oversee technology architecture and delivery, IT innovation, data, and information, and physical security.
“Joining Sallie Mae is an incredible opportunity to advance a mission that helps students access and complete higher education,” said Turner. “I look forward to leading our technology organization to accelerate innovation and harness data to deliver faster, simpler, and more reliable experiences for the students and families we serve.”
Turner brings more than 25 years of technology leadership experience to Sallie Mae. Most recently, he served as Managing Director and Head of Data, Analytics, Insights, and Marketing Technology for Bank of America, leading all aspects of technology including operations, business delivery, risk, and innovation. Prior to Bank of America, Turner spent more than a decade at Walgreens where he led digital transformation in several roles including Chief Information Officer, and Senior Vice President of Digital Operations.
“Steve’s deep experience managing large-scale, customer-focused platforms makes him the right leader to strengthen our technology foundation, drive innovation across the business, and deepen our relationships with our customers,” said Jon Witter, Chief Executive Officer, Sallie Mae. “I’m excited to have him join our leadership team, and I’m confident he will help us raise the bar and deliver measurable results for our business.”
Turner earned a Bachelor of Science in Computer Science from Chapman University and a Master of Business Administration from the Kellogg School of Management at Northwestern University. He is also a veteran of the U.S. Navy.
For more information visit www.salliemae.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Category: Corporate and Financial
View source version on businesswire.com: https://www.businesswire.com/news/home/20260202140295/en/
Rick Castellano
302.451.2541
Rick.castellano@salliemae.com
Original: Sallie Mae Names Steve Turner Chief Technology and Enablement Officer
conix
15年前
Is the College Debt Bubble Ready to Explode?
by Laura Rowley
Friday, December 3, 2010
Kelli Space, 23, graduated from Northeastern University in 2009 with a bachelor's in sociology — and a whopping $200,000 in student loan debt. Space, who lives with her parents and works full-time, put up a Web site called TwoHundredThou.com soliciting donations to help meet her debt obligation, which is $891 a month. That number jumps to $1,600 next November.
In creating the site, Space, of course is hoping to ease her financial burden, but it's "mainly to inform others on the dangers of how quickly student loans add up," she said. So far she's raised $6,671.56, according to her site.
Space is just one example — albeit an extreme one — of a student loan bubble that may be about to burst. Over the last decade, private lenders, abetted by college financial aid offices, eagerly handed young people hundreds of thousands of dollars to earn bachelor's degrees. As a result of easy credit, declining grants and soaring tuitions, more than two-thirds of students graduated with debt in 2008 — up from 45 percent in 1993. The average debt load is $24,000, according to the Project on Student Debt.
In some respects, the student loan crisis looks remarkably like the subprime mortgage crisis. First, outstanding student loan debt has ballooned: It grew roughly four-fold in the last decade to $833 billion as of June — surpassing outstanding credit-card debt for the first time.
Secondly, defaults have soared amid a difficult job market. In 2008, the most recent year for which data are available, nearly 3.4 million borrowers began repayment, and more than 238,000 defaulted on their loans. The number of loans that went into forbearance or deferment (when borrowers receive temporary relief from payments) rose to 22 percent in 2007, from 10 percent a decade earlier, according to The Chronicle of Higher Education. Over a 15-year period, default rates range from 20 percent for federal loans to 40 percent on loans to students who attend for-profit schools, The Chronicle found.
Just as lenders offered easy no-money-down mortgages to unqualified borrowers during the housing boom, private student loan firms offered instant online approval for up to 100 percent of college costs to students, in some cases for four consecutive years. In early 2007, half of loans made by Sallie Mae, one of the industry's biggest players, were to students with no co-signers, according to Mark Kantrowitz, founder of informational Web site finaid.org.
As tuition costs have outpaced the caps on federal loans, more families have turned to private loans, which carry higher interest rates and stricter repayment rules. Last year private lenders supplied about $10 billion in loans (compared with $100 billion in federal loans). A study by the College Board found about a third of graduates in 2007-2008 had private loans. About two dozen private lenders offer student loans, and their business is growing at 25 percent annually, after a temporary decline amid the recent credit crisis, according to finaid.org.
Space, for instance, took out $12,000 in federal loans and borrowed $189,000 from private lender Sallie Mae. In an email interview, Space said she spent the money on tuition and room and board for four years; two summer semesters; a three-month study abroad program in Ireland; and books for three semesters. Some $20,000 of her debt is accrued interest. (Interest rates on her loans range from 3 percent to 9 percent.)
Space worked throughout high school and college at restaurants, retail stores and a nonprofit firm. But her savings dissipated quickly at Northeastern, where annual costs are $49,452. She's now looking for a second, part-time job. (Northeastern officials did not respond to an interview request.)
You'd think would-be borrowers would understand the impact of borrowing that much for college, but Space says that's not the case. "I think it is essential for young people to have someone sit down and explain how [loans] affect your credit, how much the debt will be with interest, and how this will truly change life later on. Many people say loaded things, like, 'go to the best school you can get into,' or 'student loans are considered good debt.' Solely following this advice led me to the place I'm at today," she said in an email.
A Sallie Mae spokeswoman said she couldn't comment on Space's situation, but called that level of borrowing "extremely rare." Sallie Mae requires its private student loans to be certified by the school's financial aid office to ensure that the amount borrowed is no more than the cost of attendance, less any other financial aid received. She added that Sallie Mae reviews the applicant's and co-signer's financial situation before approving a loan.
But Kantrowitz says Sallie Mae forked over a shocking amount of money. "To borrow $50,000 in the first year of college is already excessive. But where was the (lending) rationality in the second year when the student was borrowing another $50,000?" says Kantrowitz, adding that students who must borrow more than $10,000 a year for an undergraduate education should find a cheaper school, or start at community college.
Zac Bissonnette, a senior at the University of Massachusetts and author of the new book "Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships or Mooching Off My Parents," agrees that there's plenty of blame to go around.
"It's profoundly stupid, but at the same time it takes a village to screw up that bad," he says. "I support the personal responsibility argument, but if you're 18 and the first person in your family to go to college, how can people absolve the college or the lender of responsibility?"
While the housing collapse's impact was wide-ranging — wreaking havoc on a multitude of industries and market participants — the primary losers in this debacle are the borrowers. Lenders can't repossess a college degree, and changes to the bankruptcy law in 1984 and 2005 mean borrowers can't charge off their obligations the way they can shed credit-card, mortgage or even gambling debt when they file for bankruptcy. (Just 29 of the 72,000 borrowers in bankruptcy in 2008 were able to prove "undue hardship" and have their student loans discharged, according to Kantrowitz.)
On the upside, federal student loans carry some consumer protections: lower interest rates; payment forbearance or deferment in the event of unemployment; income-based repayment programs; and forgiveness programs for public service careers. But the government will garnish the wages, income tax refunds and social security and disability checks of defaulters. Private loan terms are more treacherous, with fewer options for payment deferral, and fees and penalties for missing payments. Lenders can also get a court order to garnish wages. For its part, Sallie Mae says it has set up customized workouts for thousands of financially distressed customers.
"With this kind of debt on your credit record, you won't be able to get a car loan or a mortgage, and you'll have difficulty renting an apartment," says Kantrowitz. Some borrowers have lost jobs because the collection agencies called them at work illegally. Indebted grads are also less likely to go to graduate school, and delay getting married, having children and saving for retirement.
Kantrowitz says he doesn't think the student loan industry will implode, but its "cascading effect" on household finances and the U.S. economy will become noticeable by the year 2020. That's why he and educators, as well as some lenders, support legislation to reform bankruptcy laws.
In April, the Private Student Loan Bankruptcy Fairness Act of 2010 was introduced in the House of Representatives and The Fairness for Struggling Students Act was introduced in the Senate. Both would modify the bankruptcy law to allow certain educational debts to be eliminated. (Borrowers would still be on the hook for federal loans, which are funded by taxpayer dollars.)
"There are some people who go to school and live a very high lifestyle and graduate with a lot of debt, who could potentially attempt to get the debt discharged right after they get a job," says Kantrowitz. "But the bankruptcy code has enough anti-abuse provisions, and judges have enough discretion, that they could prevent someone from doing that."
The upshot would likely be tighter borrowing standards and higher interest rates to reflect the additional risk, making loans less accessible to low-income households.
Meanwhile, securitization of student loans throws a twist into potential legislation. In May, Standard & Poor's came out with a report suggesting that restoring bankruptcy protection would have a negative impact on the private loan asset-backed securities market, although it called the magnitude of the impact "uncertain."
Kantrowitz, however, says the effect would be minimal: "In aggregate, we're talking about $1 billion a year — but relative to all the lending that goes on, it's not that much."
As for Space, she says she is determined to pay off her debt and regrets the path she took to get her degree: "Everyone from Barack Obama to Bill Gates keeps pushing a college education as the way to secure one's economic future. That is a view that should be heavily qualified."
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