Exhibit 99.1


sma07.jpg
NEWS RELEASE
 
 
FOR IMMEDIATE RELEASE
 

SALLIE MAE REPORTS THIRD-QUARTER 2017 FINANCIAL RESULTS
Private Education Loan Portfolio Grows 24 Percent From Year-Ago Quarter to $17.0 Billion
Net Interest Income Increases 26 Percent From Year-Ago Quarter to $282 Million
Diluted Earnings Per Share Up 42 Percent from Year-Ago Quarter to $0.17
Private Education Loan Originations Increase 3 Percent From Year-Ago Quarter to $1.9 Billion

NEWARK, Del., Oct. 18, 2017
 — Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released third-quarter 2017 financial results that include growth in portfolio size, net interest income, diluted earnings per share and originations. In the third-quarter 2017, the company expanded its private education loan portfolio 24 percent to $17.0 billion, increased its net interest income 26 percent to $282 million, increased its diluted earnings per share 42 percent to $0.17, and increased its private education loan originations 3 percent to $1.9 billion, all compared with the third quarter of 2016.
“The third quarter includes the back-to-school season for millions of families and the peak of our lending activity. It is gratifying to have helped 221,000 students return to campus to continue their college education and provide them with access to industry-leading tutoring services as an added benefit,” said Raymond J. Quinlan, chairman and CEO. “Our mission is to help students achieve the dream of higher education, and that’s why we focus on helping families save, plan, and pay for college. During the quarter, 425,000 students and their families explored the free financial literacy resources on our website to find scholarship and grant opportunities, learn how to pay for college, and use calculators to manage prudently their student loan debt. We take pride in our customers’ strong performance during college and after graduation, and we are pleased that platform and customer experience investments continue to yield a healthy loan portfolio and an improved efficiency ratio.”
For the third-quarter 2017, GAAP net income was $76 million, compared with $57 million in the year-ago quarter. GAAP net income attributable to the company’s common stock was $73 million ($0.17 diluted earnings per share) in the third-quarter 2017, compared with $52 million ($0.12 diluted earnings per share) in the year-ago quarter. The year-over-year increase was primarily attributable to a $59 million increase in net interest income and a $7 million decrease in income tax expense, which was offset by a $13 million increase in provisions for credit losses, a $17 million decrease in other income, and a $16 million increase in total non-interest expenses.
Third-quarter 2017 results vs. third-quarter 2016 included:
Private education loan originations of $1.9 billion, up 3 percent.
Net interest income of $282 million, up 26 percent.
Net interest margin of 5.85 percent, up 27 basis points.
Average private education loans outstanding of $16.2 billion, up 26 percent.
Average yield on the private education loan portfolio was 8.50 percent, up 50 basis points.
Private education loan provision for loan losses was $53 million, up from $41 million.
Private education loans in forbearance were 3.2 percent of private education loans in repayment and forbearance, up from 3.0 percent.
Private education loan delinquencies as a percentage of private education loans in repayment were 2.6 percent, up from 2.0 percent.
Core earnings for the third-quarter 2017 were $75 million, compared with $56 million in the year-ago quarter. Core earnings attributable to the company’s common stock grew 42 percent to $72 million ($0.17 diluted earnings per share) in the third-quarter 2017, compared with $51 million ($0.12 diluted earnings per share) in the year-ago quarter.

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The following information was filed by Slm Corp (SLM) on Wednesday, October 18, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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