Sallie Mae Reports Fourth-Quarter and Full-Year 2023 Financial Results

Fourth-Quarter GAAP Net Income Attributable to Common Stock of $164 Million, $0.72 Per Diluted Share; Full-Year 2023 GAAP Net Income Attributable to Common Stock of $564 Million, $2.41 Per Diluted Share

Full-Year 2023 Private Education Loan Originations of $6.4 Billion, Up 7% From Year-Ago Period

Fourth-Quarter 2023 Private Education Loan Net Charge-offs of 2.43%, Down From 3.15% in Year-Ago Period

Impacting Earnings Per Share for the Fourth-Quarter and Full-Year 2023 Was the Non-Cash Charge of $56 Million to Write Down the Nitro Trade Name and Trademarks

Board of Directors Approves New $650 Million Share Repurchase Program

Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released fourth-quarter and full-year 2023 financial results. Highlights of those results are included in the attached supplement. Complete financial results are available at www.SallieMae.com/investors.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240124185249/en/

Sallie Mae will host an earnings conference call today, Jan. 24, 2024, at 5:30 p.m. ET. Executives will be on hand to discuss various highlights of the quarter and year and to answer questions related to Sallie Mae’s performance. A live audio webcast of the conference call and presentation slides may be accessed at www.SallieMae.com/investors and the hosting website. A replay of the webcast will be available via the company’s investor website approximately two hours after the call’s conclusion.

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Category: Corporate and Financial

View source version on businesswire.com: https://www.businesswire.com/news/home/20240124185249/en/

Media Rick Castellano, 302-451-2541, [e-mail]

Investors Melissa Bronaugh, 571-526-2455, [e-mail]