Sallie Mae Sinks 9% on Slashed Guidance as Credit Fix Proves “Slower Than Anticipated”
Sallie Mae (SLM) shares dropped 9% after reporting a Q3 loss of $0.19 per share and reducing 2026 EPS guidance to $1.95–$2.05 from $3.10–$3.20. The company cited slower-than-expected borrower uptake of its credit fix and raised its 2026 net charge-off forecast to $400M–$420M. Record loan growth was offset by higher charge-offs and lower loan sale gains.


