• Sallie Mae swung to a third-quarter 2026 GAAP diluted loss of $0.19 per common share from a year-earlier profit.
• Net interest income fell 9% year-over-year to $339 million, while non-interest income dropped 79% to $36 million.
• Private Education Loan originations climbed 15% year-over-year to $3.4 billion, while Graduate Loan originations more than doubled.
• Non-interest expenses rose 22% year-over-year to $221 million, largely due to peak-season spending to capture new volume and customers following PLUS reform.
• The lender cut its full-year 2026 diluted earnings guidance to $1.95–$2.05 per common share from $3.10–$3.20.

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