Slm Corporation · NASDAQ:SLM
Slm — Investor Presentation (November 2016)
18 slides from Slm's investor presentation, Nov 8, 2016
Slide 1: Smart Option Student Loan Historical Performance Data
| 1 SALLIE MAE Smart Option Student Loan Historical Performance Data Period ended September 30, 2016
Slide 2: Forward-Looking Statements and Disclaimer
| 2 Forward-Looking Statements and Disclaimer Cautionary Note Regarding Forward-Looking Statements The following information is current as of September 30, 2016 (unless otherwise noted) and should be read in connection with the press release of SLM Corporation (the “Company”) announcing its financia
Slide 3: Important Information Regarding Historical Loan Performance Data
| 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: an education loan management, servicing and asset recovery business called Navient C
Slide 4: Important Information Regarding Historical Loan Performance Data (cont.)
| 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 information: (1) Combined Smart Option Student Loan Portfolio Data for Legacy SLM, Navient and
Slide 5: 31-60 Day Delinquencies as a % of Loans in P&I Repayment
| 5 0% 2% 4% 6% 8% 10% D ec -1 0 M ar -1 1 Ju n- 11 S ep -1 1 D ec -1 1 M ar -1 2 Ju n- 12 S ep -1 2 D ec -1 2 M ar -1 3 Ju n- 13 S ep -1 3 D ec -1 3 M ar -1 4 Ju n- 14 S ep -1 4 D ec -1 4 M ar -1 5 Ju n- 15 S ep -1 5 D ec -1 5 M ar -1 6 Ju n- 16 S ep -1 6 P er ce nt o f P & I R ep ay m en t B al an
Slide 6: Smart Option Serviced Portfolio: 61-90 Day Delinquencies
| 6 Smart Option Serviced Portfolio: 61-90 Day Delinquencies 0% 2% 4% 6% 8% 10% D ec -1 0 M ar -1 1 Ju n- 11 S ep -1 1 D ec -1 1 M ar -1 2 Ju n- 12 S ep -1 2 D ec -1 2 M ar -1 3 Ju n- 13 S ep -1 3 D ec -1 3 M ar -1 4 Ju n- 14 S ep -1 4 D ec -1 4 M ar -1 5 Ju n- 15 S ep -1 5 D ec -1 5 M ar -1 6 Ju n-
Slide 7: 91+ Day Delinquencies as a % of Loans in P&I Repayment
| 7 0% 2% 4% 6% 8% 10% D ec -1 0 M ar -1 1 Ju n- 11 S ep -1 1 D ec -1 1 M ar -1 2 Ju n- 12 S ep -1 2 D ec -1 2 M ar -1 3 Ju n- 13 S ep -1 3 D ec -1 3 M ar -1 4 Ju n- 14 S ep -1 4 D ec -1 4 M ar -1 5 Ju n- 15 S ep -1 5 D ec -1 5 M ar -1 6 Ju n- 16 S ep -1 6 P er ce nt o f P & I R ep ay m en t B al an
Slide 8: Loans in P&I Repayment and Forbearance notes
| 8 Data as of September 30, 2016. (1) Loans in P&I Repayment and Forbearance include loans in forbearance and loans for which scheduled principal and interest payments were due at the end of the applicable monthly reporting period. Comparable data previously disclosed for the periods ended June 30,
Slide 9: Annualized Gross Defaults as a % of Loans in P&I Repayment
| 9 0% 2% 4% 6% 8% 10% D ec -1 0 M ar -1 1 Ju n- 11 S ep -1 1 D ec -1 1 M ar -1 2 Ju n- 12 S ep -1 2 D ec -1 2 M ar -1 3 Ju n- 13 S ep -1 3 D ec -1 3 M ar -1 4 Ju n- 14 S ep -1 4 D ec -1 4 M ar -1 5 Ju n- 15 S ep -1 5 D ec -1 5 M ar -1 6 Ju n- 16 S ep -1 6 P er ce nt o f P & I R ep ay m en t B al an
Slide 10: Smart Option Vintage Data: Cumulative Gross Default by Loan Type
| 10 Smart Option Vintage Data: Cumulative Gross Default by Loan Type 6.5% 5.6% 4.4% 3.5% 2.9% 1.5% 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 0 1 2 3 4 5 6 7 8 9 10 11 C um ul at iv e D ef au lt s as a % o f D is b ur se d P ri nc ip al E nt er in g P & I R ep ay m en t Years Since First P&I Repayment Perio
Slide 11: Smart Option Vintage Data: Voluntary Prepayments
| 11 Smart Option Vintage Data: Voluntary Prepayments 0% 2% 4% 6% 8% 10% 12% 14% 16% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 % C P R Quarters Since Disbursement Smart Option Student Loans - Serviced Portfolio Voluntary CPR by Disbursement Vintage (1) Interest Only, Fixed Payment and Defer
Slide 12: Smart Option Vintage Data: Total Prepayments
| 12 Data as of September 30, 2016. (1) Data for all loans from initial disbursement, whether or not scheduled payments are due. Total CPR includes voluntary and involuntary prepayments. (2) Loans in a particular annual Disbursement Vintage are disbursed at different times during the Disbursement Vi
Slide 13: Smart Option: Cumulative Recoveries
| 13 Smart Option: Cumulative Recoveries Data as of September 30, 2016. (1) Certain data used in the charts above was provided by Navient under a data sharing agreement. Sallie Mae Bank has not independently verified, and is not able to verify, the accuracy or completeness of the data provided under
Slide 14: Definitions of terms used in cohort default triangles
| 14 Terms and calculations used in the cohort default triangles are defined below: First P&I Repayment Period – The month during which a borrower is first required to make a full principal and interest payment on a loan. P&I Repayment Vintage – The calendar year of a loan’s First P&I Repayment
Slide 15: Cohort Default Triangles – Smart Option Combined
| 15 Cohort Default Triangles – Smart Option Combined (Interest Only, Fixed Payment & Deferred) Data as of September 30, 2016. (1) Numerator is the Periodic Defaults in each P&I Repayment Vintage. Denominator is the amount of Disbursed Principal for that P&I Repayment Vintage. (2) Please see page 14
Slide 16: Cohort Default Triangles – Smart Option Interest Only
| 16 Cohort Default Triangles – Smart Option Interest Only Data as of September 30, 2016. (1) Numerator is the Periodic Defaults in each P&I Repayment Vintage. Denominator is the amount of Disbursed Principal for that P&I Repayment Vintage. (2) Please see page 14 for a description and explanation of
Slide 17: Cohort Default Triangles – Smart Option Fixed Payment
| 17 Cohort Default Triangles – Smart Option Fixed Payment Data as of September 30, 2016. (1) Numerator is the Periodic Defaults in each P&I Repayment Vintage. Denominator is the amount of Disbursed Principal for that P&I Repayment Vintage. (2) Please see page 14 for a description and explanation of
Slide 18: Cohort Default Triangles – Smart Option Deferred Payment
| 18 Cohort Default Triangles – Smart Option Deferred Payment Data as of September 30, 2016. (1) Numerator is the Periodic Defaults in each P&I Repayment Vintage. Denominator is the amount of Disbursed Principal for that P&I Repayment Vintage. (2) Please see page 14 for a description and explanation