Slm Corporation · NASDAQ:SLM
Slm — 2025 Stephens Annual Investment Conference
13 slides from Slm's conference presentation, Nov 17, 2025
Slide 1: 2025 Stephens Annual Investment Conference Presentation
2025 Stephens Annual Investment Conference Presentation November 17th, 2025 © 2025 Sallie Mae Bank. All rights reserved. 1
Slide 2: Cautionary Note and Disclaimer Regarding Forward-Looking Statements
CAUTIONARY NOTE AND DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS This Presentation of SLM Corporation (the “Company”) includes forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litig
Slide 3: 3rd Quarter 2025 Highlights
Balance Sheet & 3rd Quarter Capital Allocation $2.9B $0.13 Private Education Loan Common stock dividend per 2025 Highlights Originations(1) in Q3 2025 as compared to $2.8B in the share paid in Q3 2025. year-ago quarter. 24.3% (2) 12.6% Return on Common Equity for Total risk-based capital ratio; Q3 2
Slide 4: Additional Key Performance Metrics
Funding & Liquidity Additional Key Performance 15.8% Deposit portfolio balances at the end of Q3 2025 were 7% Metrics lower than at the end of Q3 2024; Q3 2025 mix of brokered Liquidity ratio as of September 30, vs. retail and other was 2025. approximately 39% and 61%, respectively. $1.9B Private Ed
Slide 5: Private Education Loan Trends
Average FICO In School Cosigned Private Private Education Loan Originations(1) at Approval(5) Payment Education Q3 Loan Trends Full Year 2025* 2025 * $6,393 Third quarter 2025 originations at YTD approximately $2.9 Billion, 6% growth from the year-ago quarter. 2024 $7,013 752 56% 90% Third quarter 2
Slide 6: Loans in Repayment Balances
Loans in Repayment Balances On book balances of loans in repayment(7) have been largely consistent over the past 2+ years, while off book balances have grown 70% since Q1 2023. On Book Balances of Loans Off Book Balances of Loans in Repayment in Repayment $18 $12 $4.5B $17 Since 1Q23 $11 $16 $15 $10
Slide 7: Loans in Early-Stage P&I Repayment
Loans in Early-Stage P&I Repayment Off book loans in repayment show a higher proportion of borrowers in their first 24 months of P&I repayment, a period we recognize as the most challenging. On Book – 1 to 24 months P&I Repayment Off Book – 1 to 24 months P&I Repayment as % of Loans in Repayment as
Slide 8: Late-Stage On Book Portfolio Roll Rates
Late-Stage On Book Portfolio Roll Rates The on book delinquency portfolio roll rates have been consistent, following seasonal patterns, for the percentages of loans in both 90-day and 120-day delinquency. On book Roll Rate of Loans in Repayment On Book Roll Rate of Loans in P&I Repayment (by delinqu
Slide 9: Quarterly Financial Highlights
Quarterly Financial Highlights Q3 Q2 Q3 Q3 Q2 Q3 2025 2025 2024 2025 2025 2024 Income Statement ($ Millions) $ $ $ Key Performance Metrics ($ in millions) Total interest income 658 657 653 Net Interest Margin 5.18% 5.31% 5.00% Total interest expense 285 280 293 Net Interest Income 373 377 359 Yield—
Slide 10: Credit Performance
Credit Performance (7)(8)(9) Private Education Loans Held for Investment Quarters Ended SEPT 30, 2025 JUN 30, 2025 SEPT 30, 2024 ($ Thousands) Balance % Balance % Balance % Loans in repayment and percentage of each status: Loans current $ 15,638,904 96.0% $ 15,661,996 96.5% $ 14,806,983 96.4% Loans
Slide 11: Allowance for Credit Losses
Allowance for Credit Losses Consolidated Statements of Income – Provision for Credit Losses Reconciliation Factors affecting the Provision for Credit Losses 3rd Quarter 2025 Quarter Ended September 30, 2025 ($ THOUSANDS) • Total Allowance % of Private Private Education Loan provision for credit loss
Slide 12: 2025 Guidance
For the full year 2025, the Company expects: 2025 Guidance * $3.35 - $3.45 5% - 6% GAAP Diluted Earnings Private Education Loan Originations Per Common Share Year-over-Year Growth 2.0% - 2.2% $655 - $675 Total Loan Portfolio Net Charge-Offs Million as a Percentage of Average Loans in Repayment Non-I
Slide 13: Footnotes
Footnotes 1. Originations represent loans that were funded or acquired during the period presented. 2. We calculate and report our Return on Common Equity (“ROCE”) as the ratio of (a) GAAP net income (loss) attributable to SLM Corporation common stock numerator (annualized) to (b) the net denominato