Sallie Mae Posts $36 Million Q3 Loss as Credit Provisions and Costs Rise (SLM)

Sallie Mae (SLM) reported a third-quarter net loss of $36 million, or $0.19 per share, reversing year-ago net income of $132 million, or $0.63 per share, the private education lender said Thursday. Private education loan originations rose 15% year over year to a record $3.4 billion, with graduate loan originations up 119% from the prior-year quarter. Net interest income fell to $339 million from $373 million, credit loss provisions climbed to $214 million from $179 million, and non-interest expenses rose to $221 million from $180 million on higher marketing spending during the first academic peak season following PLUS reform. For full-year 2026, Sallie Mae guided to earnings per share of $1.95 to $2.05, private education loan origination growth of 12% to 14%, net charge-offs of $750 million to $780 million, and non-interest expenses of $400 million to $420 million.