Sallie Mae Q3 peak-season update: Applications +6%, originations +10% through Aug 31

SLM Corp

QTD application growth of 6% vs same period 2023; 71% of applications are new to company.
QTD originations $1,654M vs $1,509M in 2023, a 10% increase.
91% cosigner rate on approved applications; average FICO at approval is 752.
Management notes extension of peak volume through August, contrary to typical seasonal slowdown.
Data is internal through August 31, 2024, not necessarily indicative of full Q3 results.

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