Learn more about the SLM Corporation Investigation
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SLM Corporation Investigation Details
SLM Corporation shares fell after the Company reported a third-quarter 2026 earnings miss and lowered its full-year guidance on October 22, 2026. For Q3 2026, the Company reported a quarterly loss of roughly $32.3 million and an adjusted EPS of -$0.19, compared to consensus expectations of +$0.17 per share. Alongside these results, the Company reduced its full-year EPS guidance from $3.10-$3.20 to $1.95-$2.05 and decided not to complete a previously planned sale of an approximately $1 billion loan portfolio. Management also cited higher expected charge-offs for the reduced outlook. Months earlier, during the Q2 2026 earnings call on July 23, 2026, Chief Financial Officer Peter Graham stated, "We still feel there's a viable path for us to get up into the range that we had previously raised to last quarter." On April 23, 2026, Chief Executive Officer Jonathan Witter also reaffirmed the Company's outlook. In a Form 10-Q filed October 22, 2026, the Company disclosed that nine-month net charge-offs rose to $292 million from $248 million while pausing the majority of third-party recovery activities. The investigation concerns whether SLM Corporation adequately disclosed credit metrics, charge-off trends, collection-practice disruptions, and loan-sale execution risks ahead of its Q3 2026 earnings report on October 22, 2026.