SLM Corporation posted a $32.3 million third-quarter loss and cut its full-year outlook by more than a third, citing higher expected charge-offs. Levi & Korsinsky is investigating potential securities law violations tied to the Company's credit loss exposure.
NEW YORK, Oct. 30, 2026 /PRNewswire/ -- SLM Corporation (NASDAQ: SLM) shares fell after the student lender disclosed on October 22, 2026, a third-quarter loss of approximately $32.3 million and cut its full-year EPS outlook to $1.95 to $2.05, down from $3.10 to $3.20, citing higher expected charge-offs. If you bought SLM shares and are now holding losses, this investigation concerns you. Shareholders who lost money are encouraged to click here to report your SLM losses or contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
Net charge-offs reached $90.4 million in the third quarter. Over the first nine months of 2026, net charge-offs climbed to $292 million from $248 million a year earlier, an increase of roughly 18%. The Company further increased its annual net charge-off guidance by $35 million.
SLM's October 22 Form 10-Q states that the Company is "pausing the majority of third-party recovery activities while we continue to develop and implement a more effective, customer-aligned approach." The filing also reports higher delinquency and forbearance rates. In addition, SLM said it would retain an approximately $1 billion loan portfolio it had planned to sell, keeping those loans on its balance sheet. Levi & Korsinsky is investigating whether SLM may not have adequately disclosed the scale of its credit loss exposure to investors.
SLM investors facing losses from this decline can get a no-cost review of their losses or call Joseph E. Levi, Esq. at (212) 363-7500.
ABOUT LEVI & KORSINSKY, LLP -- Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report.
Frequently Asked Questions About the SLM Investigation
Q: Who is conducting the SLM investigation? A: Levi & Korsinsky, LLP is investigating potential securities law violations on behalf of investors who purchased SLM securities. The firm is nationally recognized, ranked in the ISS Top 50 for seven consecutive years, and has recovered hundreds of millions of dollars for aggrieved investors.
Q: Who is eligible to participate in the SLM investigation? A: Investors who purchased SLM stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.
Q: What do SLM investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery . No immediate action is required to remain eligible to participate in the investigation.
Q: What documents do I need to participate? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: What if I already sold my SLM shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought SLM and sold at a loss may still participate in the investigation.
Q: Do I need to go to court or give testimony? A: No. Participating in the investigation does not require court appearances or depositions. If legal action is later pursued, the overwhelming majority of affected investors never appear in court either.
Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in any resulting action, these matters are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
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SOURCE Levi & Korsinsky, LLP
