Tranche Update on SLM Corporation's Equity Buyback Plan announced on January 26, 2022.
April 24, 2024 at 04:32 pm EDT
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From January 1, 2024 to January 25, 2024, the company has repurchased 0 shares, representing 0% for $0 million. With this, the company has completed the repurchase of 60,562,000 shares, representing 23.75% for $1,020.1 million under the buyback announced on January 26, 2022.
SLM Corporation is a holding company, which operates through various subsidiaries and is a financial brand for higher education. The Companyâs primary business is to originate and service loans it makes to students and their families to finance the cost of their education. It also offers a range of deposit products insured by the Federal Deposit Insurance Corporation. Its primary private education loan product is the Smart Option Student Loan, which emphasizes in-school payment features that can produce shorter terms and reduce customersâ total finance charges. Smart Option Student Loan generally runs for six months after the borrower separates from school but can run for up to 36 months for a small subset of graduate loans. It also offers six loan products for specific graduate programs of study. These include the Sallie Mae Law School Loan, the Sallie Mae MBA Loan, the Sallie Mae Graduate School Loan for Health Professions, the Sallie Mae Medical School Loan, and others.