SLM Corporation - SLM STOCK NEWS

The Sallie Mae Fund and Thurgood Marshall College Fund are offering scholarships totaling up to $650,000 for the academic year 2022-23. These funds are aimed at supporting students from historically underserved communities to overcome financial barriers to completing their post-secondary education. Eligible students can receive up to $2,500 to address unforeseen expenses. The application period is open until May 31, 2023, or until funds are exhausted. The initiative is part of a broader $3 million commitment by the Sallie Mae Fund to assist students in achieving their educational goals.

“How America Completes College” is a national study by Sallie Mae and Ipsos revealing key reasons for student dropouts. The study shows that 40% of non-completers face changes in focus or motivation, while 19% cite financial concerns, and 14% mention mental health challenges. Notably, 74% of completers decided to attend college before high school, contrasting with 55% of non-completers. Additionally, 42% of completers had a financial plan versus only 26% of non-completers. This research underscores the importance of understanding dropout factors to improve graduation rates.

Sallie Mae (Nasdaq: SLM) has awarded nearly $2 million in scholarships and grants to students and social justice nonprofits. Key highlights include $1 million in scholarships for minority and underserved students through the Thurgood Marshall College Fund and $250,000 for nonprofits aiding Hispanic and LGBTQ+ students. The company has increased volunteerism by 31%. In its Corporate Social Responsibility Report, Sallie Mae emphasizes supporting higher education access and offering numerous resources, with over 24,000 students benefiting from its scholarship search tool covering $67 million in costs.

First-Quarter Results Highlights:

SLM reported a $128 million GAAP net income for Q1 2022, translating to $0.45 per diluted share. Private education loan originations rose by 6%, reaching $2.2 billion. Additionally, SLM repurchased $176 million of its common stock during the same quarter and successfully completed a $2.0 billion private education loan sale on April 27, 2022.

Sallie Mae (Nasdaq: SLM) has declared a second-quarter 2022 dividend of $0.11 per share for common stock and $0.6605370 for Preferred Stock Series B. The dividends will be paid on June 15, 2022, to stockholders recorded as of June 3, 2022. The company continues its commitment to financing education and helping customers achieve lifelong learning goals.

Sallie Mae (Nasdaq: SLM) will announce its first-quarter financial results after market close on April 27, 2022. A live audio webcast is scheduled for April 28, 2022, at 8 a.m. ET. Investors can access the earnings release and presentation slides through SallieMae.com/investors. A replay of the webcast will be available shortly after the call.

Sallie Mae focuses on providing financing for education, aiming to support access to college and lifelong learning.

Sallie Mae (Nasdaq: SLM) has appointed William Wolf as its new Chief People Officer, effective March 28. He succeeds Bonnie Rumbold, who held the position since 2014. Wolf brings over 20 years of HR experience, previously serving at Santander U.S. and Credit Suisse. His role will focus on enhancing Sallie Mae's workplace culture and driving strategies for diversity and inclusion. CEO Jon Witter emphasized the importance of fostering a strong company culture during this pivotal moment for Sallie Mae as it evolves as an education solutions provider.

Sallie Mae (Nasdaq: SLM) has announced that its 2022 annual meeting of stockholders is set for June 21, 2022, at 1 p.m. ET. The meeting will be held virtually, and only stockholders on record as of April 22, 2022 can attend. Further details will be provided in the proxy statement to be filed with the Securities and Exchange Commission later in April. Sallie Mae focuses on providing financial support for education, helping customers achieve goals beyond college.

Sallie Mae (Nasdaq: SLM) has announced that CFO Steven McGarry will speak at the RBC Capital Markets Global Financial Institutions Conference on March 8, 2022, at 2 p.m. ET. A live audio webcast and replay, along with presentation slides, will be available on SallieMae.com/investors. The company is a leader in private student lending, aiming to enhance educational access and support lifelong learning. More information can be found on their official website.