Overview

A class action lawsuit has been filed against SLM Corporation a/k/a Sallie Mae (“SLM,” or the “Company”) (NASDAQ : SLM) and certain of the Company’s senior executive officers alleging violations of the federal securities laws. The SLM lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired SLM securities between July 25, 2025 and August 14, 2025, both dates inclusive (the “Class Period”). Investors have until February 17, 2026, to seek appointment as lead plaintiff of the SLM class action lawsuit.

SLM Corporation is a holding company, which operates through various subsidiaries and is a financial brand for higher education. SLM, more commonly known as Sallie Mae, primarily originates and services private education loans (“PELs”) to students and their families. SLM prides itself on its purported “high-quality” PELs, as well as its loss mitigation and loan modification programs to improve the collectability of PELs.

The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) SLM was experiencing a significant increase in early stage delinquencies; (ii) accordingly, Defendants overstated the effectiveness of SLM’s loss mitigation and/or loan modification programs, as well as the overall stability of the Company’s PEL delinquency rates; and (iii) as a result, Defendants’ public statements made a materially false and misleading impression regarding SLM’s business, operations, and prospects at all relevant times.

The truth was revealed when on August 14, 2025, investment bank TD Cowen issued a report addressing SLM, stating that July 2025 “delinquencies were up 49 bp m/m, higher (worse) than the seasonal (+10 bps) performance for July, driven by a 45 bps increase in early stage delinquencies.” Notably, TD Cowen’s findings directly contradicted Defendant Graham’s assurances—made late in the month of July 2025—that Defendants were observing delinquency rates that “really are following the normal seasonal trends we would expect in the business.” On this news, SLM’s stock price fell $2.67 per share, or over 8%, to close at $30.32 per share on August 15, 2025.

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If you purchased or otherwise acquired SLM securities between July 25, 2025 and August 14, 2025, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the SLM class action lawsuit is February 17, 2026.