SLM News & Events

Sallie Mae announced the launch of a new Parent Loan designed to give families an additional, flexible option to pay for higher education as federal student loan options evolve. The Sallie Mae Parent Loan allows credit-qualified individuals, including parents, guardians, or significant others, to support the financing of undergraduate and graduate education for students and offers competitive interest rates that can be lower than federal Parent PLUS loans, no origination fees, a choice of repayment options, and can cover up to 100% of the school-certified cost of attendance.

Sallie Mae priced its public offering of $500 million aggregate principal amount of 6.495% Fixed-to-Floating Rate Senior Notes due 2032 at par. J.P. Morgan Securities LLC and Barclays Capital Inc. are acting as joint book-running managers. BofA Securities, Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and RBC Capital Markets, LLC are acting as co-managers. The Senior Notes are expected to be issued on May 15, 2026, subject to customary closing conditions. SLM Corporation intends to use the net proceeds from the offering to fund the purchase of up to $500 million in aggregate principal amount of its 3.125% notes due 2026 accepted for purchase pursuant to the tender offer announced earlier, together with accrued and unpaid interest, and the payment of related fees and expenses. To the extent any net proceeds remain after the consummation of the Tender Offer, SLM Corporation intends to use such net proceeds to repay at their maturity any 2026 Notes that remain outstanding after the Tender Offer.