SLM Corp reports Q1 2026 EPS of $1.54, repurchases 6% of shares, projects $4.5B+ origination boost from federal loan reform

Filed May 5, 2026 · Period ending May 5, 2026 · ~2 min read

Key Changes

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  Federal student loan reform signed July 2025 caps Parent PLUS loans at $20K annually/$65K aggregate per student, effective July 2026. SLM projects $4.5-5B annual origination increase (up to 70% growth) once fully implemented.

  Exhibit 99.1 verify on EDGAR →
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  Repurchased 12M shares for $259M in Q1 (6% of shares outstanding) at $17.15 average price. Entered $200M accelerated share repurchase with Goldman Sachs on March 9, expected to complete by end of Q2 2026. $242M remains under 2026 authorization.

  Exhibit 99.1 verify on EDGAR →
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  Q1 2026 net income $304M ($1.54/share) vs. $301M ($1.40/share) Q1 2025. Net interest margin rose 2 bps to 5.29%, while return on common equity declined from 60.1% to 56.4%.

  Exhibit 99.1 verify on EDGAR →