Slide 1: Smart Option Student Loan Historical Performance Data
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. Period ended December 31, 2021 Smart Option Student Loan Historical Performance Data Exhibit 99.1
Slide 2: Forward-Looking Statements and Disclaimer
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 2 Forward-Looking Statements and Disclaimer Cautionary Note Regarding Forward-Looking Statements The following information is current as of December 31, 2021 (unless otherwise noted) and should be read in connecti
Slide 3: Important Information Regarding Historical Loan Performance Data
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 3 Important Information Regarding Historical Loan Performance Data On April 30, 2014 (the “Spin-Off Date”), the former SLM Corporation legally separated (the “Spin-Off”) into two distinct publicly-traded entities:
Slide 4: Important Information Regarding Historical Loan Performance Data (cont.)
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 4 Important Information Regarding Historical Loan Performance Data (cont.) Types of Smart Option Student Loan Portfolio Data The portfolio data we used in this report comes from three separate sources of informati
Slide 5: Smart Option Serviced Portfolio: 30-59 Day Delinquencies
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 5 Smart Option Serviced Portfolio: 30-59 Day Delinquencies 0% 2% 4% 6% 8% 10% M ar -1 4 Ju n- 14 Se p- 14 De c- 14 M ar -1 5 Ju n- 15 Se p- 15 De c- 15 M ar -1 6 Ju n- 16 Se p- 16 De c- 16 M ar -1 7 Ju n- 17 Se p-
Slide 6: Smart Option Serviced Portfolio: 60-89 Day Delinquencies
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 6 Smart Option Serviced Portfolio: 60-89 Day Delinquencies 0% 2% 4% 6% 8% 10% M ar -1 4 Ju n- 14 Se p- 14 De c- 14 M ar -1 5 Ju n- 15 Se p- 15 De c- 15 M ar -1 6 Ju n- 16 Se p- 16 De c- 16 M ar -1 7 Ju n- 17 Se p-
Slide 7: Smart Option Serviced Portfolio: 90+ Day Delinquencies
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 7 Smart Option Serviced Portfolio: 90+ Day Delinquencies 0% 2% 4% 6% 8% 10% M ar -1 4 Ju n- 14 Se p- 14 De c- 14 M ar -1 5 Ju n- 15 Se p- 15 De c- 15 M ar -1 6 Ju n- 16 Se p- 16 De c- 16 M ar -1 7 Ju n- 17 Se p- 1
Slide 8: Smart Option Serviced Portfolio: Forbearance
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 8 Smart Option Serviced Portfolio: Forbearance 0% 5% 10% 15% 20% 25% 30% 35% 40% M ar -1 4 Ju n- 14 Se p- 14 De c- 14 M ar -1 5 Ju n- 15 Se p- 15 De c- 15 M ar -1 6 Ju n- 16 Se p- 16 De c- 16 M ar -1 7 Ju n- 17 Se
Slide 9: Smart Option Serviced Portfolio: Annualized Gross Defaults
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 9 Smart Option Serviced Portfolio: Annualized Gross Defaults 0% 2% 4% 6% 8% 10% M ar -1 4 Ju n- 14 Se p- 14 De c- 14 M ar -1 5 Ju n- 15 Se p- 15 De c- 15 M ar -1 6 Ju n- 16 Se p- 16 De c- 16 M ar -1 7 Ju n- 17 Se
Slide 10: Smart Option Vintage Data: Cumulative Gross Default by Loan Type
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 10 Smart Option Vintage Data: Cumulative Gross Default by Loan Type 3.2% 2.6% 2.3% 1.9% 1.7% 1.0% 0.4% 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 0 1 2 3 4 5 6 7 8 C um ul at iv e D ef au lts a s a % o f D is bu rs ed P ri
Slide 11: Smart Option Vintage Data: Voluntary Prepayments
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 11 Smart Option Vintage Data: Voluntary Prepayments Data as of December 31, 2021. (1) Please see pages 19 & 20 for a description and explanation of the data and calculations underlying these charts. (2) Data for a
Slide 12: Smart Option Vintage Data: Total Prepayments
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 12 Smart Option Vintage Data: Total Prepayments ► Following the initial few years after disbursement, total prepayments begin to rise more quickly as loans begin to default. Data as of December 31, 2021. (1) Pleas
Slide 13: Cohort Default Triangles – Smart Option Combined
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 13 Cohort Default Triangles – Smart Option Combined (Interest Only, Fixed Payment & Deferred) (1) Please see page 18 for a description and explanation of the data and calculations underlying these charts. (2) Data
Slide 14: Cohort Default Triangles – Smart Option Interest Only
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 14 Cohort Default Triangles – Smart Option Interest Only (1) Please see page 18 for a description and explanation of the data and calculations underlying these charts. (2) Data static as of December 31, 2018 for L
Slide 15: Cohort Default Triangles – Smart Option Fixed Payment
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 15 Cohort Default Triangles – Smart Option Fixed Payment (1) Please see page 18 for a description and explanation of the data and calculations underlying these charts. (2) Data static as of December 31, 2018 for L
Slide 16: Cohort Default Triangles – Smart Option Deferred Payment
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 16 Cohort Default Triangles – Smart Option Deferred Payment (1) Please see page 18 for a description and explanation of the data and calculations underlying these charts. (2) Data static as of December 31, 2018 fo
Slide 17: Additional Information
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 17 Additional Information
Slide 18: Smart Option Loan Program Cohort Default Triangles
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 18 Smart Option Loan Program Cohort Default Triangles Terms and calculations used in the cohort default triangles are defined below: 4 First P&I Repayment Period – The first month during which a borrower is requir
Slide 19: Smart Option Loan Program: Prepayment Methodology
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 19 Smart Option Loan Program: Prepayment Methodology Legend + Impact is positive – Impact is negative The Constant Prepayment Rate (CPR) represents an annualized rate of prepayment speed measuring the reduction in
Slide 20: Smart Option Loan Program: Prepayment Methodology
Confidential and proprietary information. © 2021 Sallie Mae Bank. All rights reserved. 20 Smart Option Loan Program: Prepayment Methodology 𝑃𝑟𝑒𝑝𝑎𝑦𝑚𝑒𝑛𝑡! = 𝑃𝑀𝑇! − 𝑆𝑃! 𝑆𝑀𝑀! = ⁄𝑃𝑟𝑒𝑝𝑎𝑦𝑚𝑒𝑛𝑡! 𝐸𝑋𝑃! 𝑆𝑅! = 1 − 𝑆𝑀𝑀! 𝐶𝑃𝑅" = 1 − 5 !#$ % 𝑆𝑅! & 𝑤ℎ𝑒𝑟𝑒: 𝑛 =…