NEWARK, DE — Sallie Mae (Nasdaq: SLM) said Sallie Mae Bank earlier this month priced a $618 million student loan asset-backed securities transaction, the first such deal completed by the bank in 2026.
The company said the transaction was met with strong investor demand and was distributed across a range of institutional investors.
The securities are backed by seasoned private education loan assets originated and serviced by Sallie Mae Bank, according to the company.
Sallie Mae said investor engagement during the marketing process reflected continued demand for private student loan assets supported by the company’s underwriting and servicing performance.
“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 of Sallie Mae.
Graham said the transaction achieved tighter pricing than the company’s previous on-balance-sheet asset-backed securities deal despite current market volatility.
The company said the offering supports its diversified funding strategy and its role as a regular issuer in the student loan asset-backed securities market.
Sallie Mae provides private student loans and related financial products and services designed to support access to higher education.
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