Slide 1: SLM Corporation Earnings Presentation First-Quarter 2015
Exhibit 99.1 SLM CORPORATION APRIL [Graphic 23, Appears 2015 Here]EARNINGS PRESENTATION FIRST-QUARTER 2015
Slide 2: Forward-Looking Statements Cautionary Note
Forward-Looking Cautionary March This about “Risk associated educational availability; cost-cutting preferences regulations, rate economic to Presentation conform The presented what may For on Disclaimer. (“Navient”) accuracy Navient’s and the 2[Graphic make Form Company accuracy additional other ha
Slide 3: Key Portfolio Overview
[Graphic Portfolio 90% Average 79% 26% 56% $1.2 $0.9 Net Private Sallie $11.2 $6.6 $4.6 $750 3Willinterest begin billion cosigned of million billion Mae student the loans customers Originations Appears ofissuing Bank loans of brokered in margin= $9.7 in secured are cash stable FFELP loan deposits bi
Slide 4: Key Financial Metrics ($Millions)
[Graphic Key ($Millions) Net Private Cost Operating Restructuring 4Bank Interest Financial of Total Education Funds Appears Expenses Risk-Based Q1 Income Margin Expenses 1.17% Metrics 2015 Here] Yield Loans, 5.60% $Q4 1.11% 171 81 Capital $8.07% 2014 $Gross 5$5.01% 78 $151 1.04% 10 Q1 $8.07% 14.4% $
Slide 5: High Quality Private Education Loan Originations
High $4,500 $5,000 $4,076 $4,000 (MM) $2,000 $2,500 2011 $0 $500 $1,000 Private Originations % Average YoY $In Cosigned $3,000 Originations School 2012 Quality $3,500 $5% $1,663 Education Originated 4,300 3,795 $2,737 2013 86% Payment $1,500 Statistics $3,342 Private 7% 2014 86% Growth 22% Loan FICO
Slide 6: Private Education Loans Delinquencies and Forbearance
[Graphic Q1 1Q ($ Total Loans Allowance Historical 6Net Thousands) Private 2015 charge-offs private current delinquent in repayment forbearance forbearance/ 4Q Appears and Education as2014 education a5,896,132 current Balance% %forgreater 31-60 61-90 Here] of 1Q 1Q and the 170,162 Loan 2014 loans de
Slide 7: Legacy SLM and SLM Bank Delinquency and Default Performance
Delinquency 91+ 10.0% Balance 6.0% Repayment P&I of 0.0% %% Legacy 2.0% Day P&I 6.0% 0.0% 31-60 10.0% SLM: of 8.0% Delinquency 2.0% 4.0% and Day 31-60 91+ Balance Default Repayment Delinquency Delinquency Delinquency Annualized 8.0% Performance 4.0% 10.0% SLM SLM Gross Bank: 61-90 (As Bank: Default
Slide 8: Earnings ($Millions, except per share amounts)
[Graphic Earnings ($Millions, GAAP Hedge “Core 8Core ROA ROCE Earnings” Effectiveness Net Appears Metrics4 1.5% Income except 13.1% 0.6% 46 Diluted Here] per $4.7% Diluted 20 Adjustment(1)—1 48 share 1.8% 48 $EPS 16.6% 20 EPS amounts) $0.10 47 0.10 0.03 0.03 Q10.11 2015 0.11 Q4 2014 Q1 2014
Slide 9: 2015 Guidance
[Graphic 2015 Target Operating Additional Loan Provision 9[“Core Graphic Guidance Originations Sales Earnings” Appears for Expenses Restructuring at Loan 10.5% diluted Here] $4.3 Losses, $340 Premium Billion EPS Expense Million Private $0.57-$0.59 $1.5$7 $95 Billion Million Million
Slide 10: Footnotes
1 The 2Footnotes 3payments 4performance. 5reconciliation as 6or 10Delinquency For Derivative “Core loss the important this difference periodic over Earnings” are slide, the Accounting: due. ofunrealized and life “Loans information between GAAP Legacy tax Default of the rate in and “Core core gains c
Slide 11: Important Information Regarding Smart Option Student Loan Data
[Graphic Important On business SLM asset-backed billion which legacy disbursements, In based Sallie Originations. loans, following Servicing. Date, education Additional certain forbearance, Bank’s Legacy of described owned historical credit 11 connection 1989, 2008, 2009, its April Smart Corporation
Slide 12: Important Information Regarding Legacy Loan Data
[Graphic Important Legacy the Smart “31-60 “61-90 “91-plus “Annualized This time, Loans and legacy delinquency Option Any 12 charts serviced data consolidated orOption owned SLM Day Student SLM whether Day Appears or on Information of Delinquency;” other in were by Gross Page Consolidated Delinquenc
Slide 13: Reconciliation of GAAP to Core Earnings
[Graphic Corporation……………………………. Preferred common Adjustments: Net Total Corporation GAAP Derivative “Core 13 impact tax “Core Earnings” net diluted effect6 Appears stock………………….…………… stock income adjustments, of Earnings” common derivative earnings ………………………….…… dividends toHere] adjustments net di