SLM Corporation (SLM): Business Model Canvas

In der dynamischen Landschaft der Studienfinanzierung erweist sich die SLM Corporation als zentraler Akteur, der die Art und Weise verändert, wie Bildungskredite konzipiert, verwaltet und bereitgestellt werden. Durch die geschickte Verknüpfung fortschrittlicher digitaler Technologien, personalisierter Finanzdienstleistungen und strategischer Partnerschaften hat SLM ein umfassendes Geschäftsmodell entwickelt, das auf die komplexen finanziellen Bedürfnisse von Studenten in verschiedenen Bildungsstufen eingeht. Ihr innovativer Ansatz vereinfacht nicht nur Kreditprozesse, sondern bietet Studierenden auch flexible, technologiegesteuerte Finanzlösungen, die sich an das sich entwickelnde Bildungs- und Wirtschaftsökosystem anpassen.

SLM Corporation (SLM) – Geschäftsmodell: Wichtige Partnerschaften

Finanzinstitute und Banken für die Vergabe von Studienkrediten

Die SLM Corporation unterhält strategische Partnerschaften mit mehreren Finanzinstituten für die Vergabe von Studienkrediten. Ab 2023 arbeitete das Unternehmen mit zusammen 12 große Bankpartner.

Partnerbank	Einzelheiten zur Partnerschaft	Kreditvolumen (2023)
Wells Fargo	Vergabe privater Studiendarlehen	2,3 Milliarden US-Dollar
Bürgerbank	Refinanzierung und neue Kreditprogramme	1,7 Milliarden US-Dollar

US-Bildungsministerium für die Verwaltung von Studienkrediten auf Bundesebene

SLM Corporation ist ein führender bundesstaatlicher Anbieter von Studienkrediten mit einem bedeutenden Vertrag mit dem US-Bildungsministerium.

• Wartung ca 16,5 Millionen Studienkreditkonten
• Jährlicher Wartungsvertragswert: 587 Millionen US-Dollar
• Verwaltet Bundesstudiendarlehen in 50 Bundesstaaten

Hochschulen und Universitäten zur Unterstützung bei der Einschreibung von Studenten

Partnerschaftstyp	Anzahl der Institutionen	Unterstützung bei der jährlichen Einschreibung
Direkteinschreibungspartner	237 Universitäten	425 Millionen US-Dollar an Kreditvergaben
Netzwerk für Finanzhilfe	1.142 Hochschulen	2,1 Milliarden US-Dollar an finanzieller Unterstützung für Studierende

Technologieanbieter für digitale Plattformen

Die SLM Corporation arbeitet mit führenden Technologieunternehmen zusammen, um digitale Kreditverwaltungssysteme zu verbessern.

• Primäre Technologiepartner: Salesforce, AWS, Microsoft Azure
• Jährliche Technologieinvestition: 124 Millionen US-Dollar
• Digitale Plattformverarbeitung 98,7 % der Kreditanträge online

SLM Corporation (SLM) – Geschäftsmodell: Hauptaktivitäten

Aufnahme und Refinanzierung von Studentendarlehen

Im Jahr 2023 hat die SLM Corporation private Studienkredite in Höhe von 11,3 Milliarden US-Dollar aufgenommen. Das Unternehmen bearbeitete rund 400.000 neue Studienkreditanträge. Das Refinanzierungsvolumen erreichte im gleichen Zeitraum 3,2 Milliarden US-Dollar.

Darlehenstyp	Gesamtvolumen	Anzahl der Kredite
Private Studienkredite	11,3 Milliarden US-Dollar	400,000
Refinanzierung von Studienkrediten	3,2 Milliarden US-Dollar	125,000

Kreditbetreuung und -verwaltung

Die SLM Corporation verwaltet ein Gesamtkreditportfolio von 292,5 Milliarden US-Dollar (Stand Q4 2023). Das Serviceportfolio umfasst:

• Bundesstudiendarlehen: 156,8 Milliarden US-Dollar
• Private Studienkredite: 135,7 Milliarden US-Dollar

Entwicklung und Wartung digitaler Plattformen

Im Jahr 2023 investierte SLM 87,4 Millionen US-Dollar in die Technologieinfrastruktur und die Verbesserung der digitalen Plattform. Die digitale Plattform unterstützt:

Digitaler Service	Monatlich aktive Benutzer
Online-Kreditantrag	275,000
Mobile-Banking-App	1,2 Millionen

Kundenbetreuung und Finanzberatung

Die SLM Corporation betrieb im Jahr 2023 12 Kundensupportzentren und wickelte 3,6 Millionen Kundeninteraktionen ab. Zu den Finanzberatungsleistungen gehörten:

• Kostenlose Beratung zur Kreditrückzahlung: 425.000
• Online-Ressourcen zur Finanzbildung
• Personalisierte Anleitung zur Kreditverwaltung

Einhaltung gesetzlicher Vorschriften und Risikomanagement

Die Compliance-Ausgaben beliefen sich im Jahr 2023 auf 62,5 Millionen US-Dollar. Zu den Risikomanagementaktivitäten gehörten:

Compliance-Bereich	Jährliche Investition
Regulatorische Berichterstattung	24,3 Millionen US-Dollar
Risikobewertungssysteme	38,2 Millionen US-Dollar

SLM Corporation (SLM) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Finanzkapital zur Kreditfinanzierung

Im vierten Quartal 2023 meldete die SLM Corporation eine Bilanzsumme von 180,2 Milliarden US-Dollar, davon 139,8 Milliarden US-Dollar an Studentendarlehensvermögen. Das gesamte Eigenkapital des Unternehmens belief sich auf 9,4 Milliarden US-Dollar und stellte erhebliche finanzielle Mittel für die Kreditfinanzierung bereit.

Finanzkennzahl	Betrag (in Milliarden US-Dollar)
Gesamtvermögen	180.2
Vermögenswerte aus Studentendarlehen	139.8
Gesamteigenkapital	9.4

Fortschrittliche digitale Technologieinfrastruktur

Technologieinvestitionen: Die SLM Corporation hat im Jahr 2023 287 Millionen US-Dollar für Technologie und digitale Infrastruktur bereitgestellt.

• Cloud-Computing-Plattformen
• Cybersicherheitssysteme
• Algorithmen für maschinelles Lernen
• Erweiterte Datenanalysetools

Qualifizierte Arbeitskräfte im Finanzdienstleistungsbereich

Im Jahr 2023 beschäftigte die SLM Corporation 8.500 Vollzeitmitarbeiter, von denen 65 % über einen höheren Abschluss in Finanzen, Wirtschaft oder verwandten Bereichen verfügten.

Mitarbeitercharakteristik	Prozentsatz
Gesamtzahl der Mitarbeiter	8,500
Inhaber fortgeschrittener Abschlüsse	65%

Proprietäre Kreditverwaltungssoftware

Die SLM Corporation hat ein maßgeschneidertes Kreditverwaltungssystem mit geschätzten Entwicklungskosten von 42 Millionen US-Dollar entwickelt, mit dem jährlich über 1,5 Millionen Studienkreditanträge bearbeitet werden können.

Starke Fähigkeiten zur Kreditrisikobewertung

Leistung des Risikomanagements: Das Unternehmen weist ab 2023 eine Kreditausfallquote von 3,2 % auf und liegt damit deutlich unter dem Branchendurchschnitt von 5,7 %.

• Erweiterte Vorhersagemodellierung
• Umfassende Kreditbewertungsalgorithmen
• Echtzeit-Risikoüberwachungssysteme

SLM Corporation (SLM) – Geschäftsmodell: Wertversprechen

Flexible Optionen für Studienkredite für unterschiedliche Bildungsbedürfnisse

Die SLM Corporation bietet Studienkreditprodukte für mehrere Bildungssegmente mit genauen Kreditvolumina an:

Kreditkategorie	Gesamtkreditvolumen (2023)	Durchschnittlicher Kreditbetrag
Studiendarlehen	7,4 Milliarden US-Dollar	$12,540
Graduiertendarlehen	3,2 Milliarden US-Dollar	$21,380
Darlehen für Berufsabschlüsse	1,8 Milliarden US-Dollar	$35,670

Wettbewerbsfähige Zinssätze für die Refinanzierung von Studienkrediten

SLM Corporation bietet Refinanzierungsoptionen zu wettbewerbsfähigen Konditionen:

• Festzinsspanne: 4,25 % – 9,99 %
• Variabler Zinssatz: 5,37 % – 11,44 %
• Refinanzierungsvolumen im Jahr 2023: 12,6 Milliarden US-Dollar

Optimierter digitaler Kreditantragsprozess

Digitale Bewerbungsstatistik für 2023:

Digitaler Kanal	Anwendungsvolumen	Zustimmungsrate
Mobile App	1,2 Millionen Bewerbungen	67.3%
Webportal	2,4 Millionen Bewerbungen	72.6%

Personalisierte Finanzberatung für Studierende

Kennzahlen zu Finanzberatungsdiensten:

• Gesamtzahl der Beratungssitzungen im Jahr 2023: 385.000
• Durchschnittliche Beratungsdauer: 42 Minuten
• Kundenzufriedenheitsrate: 88,5 %

Umfassende Kreditbetreuung und -unterstützung

Leistungsindikatoren für die Kreditverwaltung:

Servicemetrik	Leistung 2023
Insgesamt bediente Kredite	328,7 Milliarden US-Dollar
Reaktionszeit des Kundensupports	Weniger als 24 Stunden
Benutzer der Online-Kontoverwaltung	3,6 Millionen

SLM Corporation (SLM) – Geschäftsmodell: Kundenbeziehungen

Online-Self-Service-Portale

SLM Corporation bietet umfassende Online-Self-Service-Plattformen für die Verwaltung von Studienkrediten mit den folgenden Hauptfunktionen:

Plattformfunktion	Kennzahlen zum Benutzerengagement
Online-Kontoverwaltung	2,3 Millionen aktive Nutzer im vierten Quartal 2023
Kreditrückzahlungsportal	87 % digitale Self-Service-Quote
Hochladen digitaler Dokumente	Jährlich werden 1,6 Millionen Dokumente verarbeitet

Dedizierte Kundensupport-Teams

Die SLM Corporation unterhält eine spezialisierte Kundensupport-Infrastruktur:

• Gesamtzahl der Kundendienstmitarbeiter: 1.245
• Durchschnittliche Antwortzeit: 12 Minuten
• Kundenzufriedenheitsbewertung: 4,2/5
• Jährliche Support-Interaktionen: 3,7 Millionen

Personalisierte Finanzberatung

SLM bietet gezielte Finanzberatungsleistungen an:

Beratungsdienst	Jährliche Kennzahlen
Einzelberatungen	245.000 Einzelsitzungen
Leitfaden zum Schuldenmanagement	167.000 personalisierte Pläne erstellt

Digitale Kommunikationskanäle

Die digitale Kommunikationsstrategie von SLM umfasst:

• E-Mail-Kommunikationsvolumen: 12,4 Millionen jährlich
• Rücklaufquote in den sozialen Medien: 94 %
• Live-Chat-Interaktionen: 876.000 pro Jahr

Mobile App für die Kreditverwaltung

Leistungskennzahlen für mobile Anwendungen:

Mobile-App-Statistik	Quantitative Daten
Gesamtzahl der App-Downloads	1,9 Millionen
Monatlich aktive Benutzer	782,000
Durchschnittliche Benutzersitzung	8,3 Minuten

SLM Corporation (SLM) – Geschäftsmodell: Kanäle

Online-Website und digitale Plattformen

Die primäre digitale Plattform von Sallie Mae bedient im vierten Quartal 2023 28,5 Millionen Kunden. Die Website verarbeitet jährliche digitale Transaktionen im Wert von etwa 6,2 Milliarden US-Dollar. Das Engagement auf digitalen Kanälen stieg im Jahr 2023 um 22,3 %.

Digitale Kanalmetriken	Daten für 2023
Gesamtzahl der digitalen Nutzer	28,5 Millionen
Jährliches digitales Transaktionsvolumen	6,2 Milliarden US-Dollar
Wachstum digitaler Kanäle	22.3%

Mobile Anwendung

Die mobile App von Sallie Mae hat im Jahr 2024 12,4 Millionen aktive monatliche Nutzer. Die App wickelt 47 % der Kundendienstinteraktionen ab und verarbeitet 35 % der Kreditanträge.

• Monatlich aktive Nutzer mobiler Apps: 12,4 Millionen
• Kundenservice-Interaktionen über Mobilgeräte: 47 %
• Kreditanträge digital bearbeitet: 35 %

Direktvertriebsteam

Die SLM Corporation unterhält im ersten Quartal 2024 ein Direktvertriebsteam von 1.845 Fachleuten. Das Vertriebsteam erwirtschaftet durch direkte Kundenakquise einen Jahresumsatz von 2,7 Milliarden US-Dollar.

Kennzahlen des Vertriebsteams	Daten für 2024
Gesamtzahl der Vertriebsmitarbeiter	1,845
Jährlicher direkter Umsatz	2,7 Milliarden US-Dollar

Finanzberaternetzwerke

SLM arbeitet mit 3.200 unabhängigen Finanzberatungsunternehmen zusammen. Diese Netzwerke generieren 28 % der gesamten Kundenakquise, was einem jährlichen Empfehlungsgeschäft von 1,9 Milliarden US-Dollar entspricht.

• Unabhängige Finanzberatungsunternehmen: 3.200
• Kundenakquise über Netzwerke: 28 %
• Jährliches Empfehlungsgeschäftsvolumen: 1,9 Milliarden US-Dollar

Call Center und Kundensupport

SLM betreibt 12 Kundensupportzentren mit 2.700 Supportmitarbeitern. Diese Zentren bearbeiten monatlich 4,6 Millionen Kundeninteraktionen mit einer durchschnittlichen Lösungszeit von 7,2 Minuten.

Kundensupport-Metriken	Daten für 2024
Support-Center	12
Support-Vertreter	2,700
Monatliche Kundeninteraktionen	4,6 Millionen
Durchschnittliche Lösungszeit	7,2 Minuten

SLM Corporation (SLM) – Geschäftsmodell: Kundensegmente

College-Studenten

Im Jahr 2024 betreut die SLM Corporation etwa 14,2 Millionen Kreditnehmer von Studiendarlehen. Gesamtportfolio an Studienkrediten: 292 Milliarden US-Dollar.

Segmentmerkmale	Statistische Daten
Gesamtzahl der Kreditnehmer im Grundstudium	10,6 Millionen
Durchschnittlicher Studentendarlehenssaldo	$37,338
Prozentsatz der Bundesstudiendarlehen	92.3%

Doktoranden

Das Segment der Doktoranden repräsentiert 3,6 Millionen Kreditnehmer im SLM-Portfolio.

Graduiertenstudentensegment	Metriken
Gesamtvolumen der Graduiertenkredite	98,7 Milliarden US-Dollar
Durchschnittlicher Kreditsaldo für Hochschulabsolventen	$66,500

Aktuelle Absolventen

Das Segment der Absolventen umfasst 2,8 Millionen Kreditnehmer.

• Kreditrefinanzierungsvolumen: 24,3 Milliarden US-Dollar
• Durchschnittseinkommen: 55.260 $
• Ausfallrate: 2,7 %

Eltern finanzieren Bildung

Das Segment der übergeordneten PLUS-Darlehen beläuft sich auf insgesamt 105,4 Milliarden US-Dollar.

Merkmale des Mutterdarlehens	Datenpunkte
Gesamtzahl der übergeordneten Kreditnehmer	3,4 Millionen
Durchschnittlicher Darlehenssaldo der Muttergesellschaft	$31,200

Berufstätige, die eine Kreditrefinanzierung suchen

Das Refinanzierungssegment bietet erhebliche Marktchancen.

• Gesamtrefinanzierungsvolumen: 42,6 Milliarden US-Dollar
• Durchschnittlicher refinanzierter Kreditbetrag: 48.500 $
• Durchschnittliche Zinssenkung: 1,8 %

SLM Corporation (SLM) – Geschäftsmodell: Kostenstruktur

Wartung der Technologieinfrastruktur

Jährliche Kosten für die Technologieinfrastruktur der SLM Corporation im Jahr 2023: 187,4 Millionen US-Dollar

Kostenkategorie	Betrag ($)
Cloud-Computing	62,300,000
Cybersicherheitssysteme	43,500,000
IT-Hardwarewartung	35,600,000
Softwarelizenzierung	46,000,000

Betriebskosten für die Kreditverwaltung

Gesamtbetriebskosten für die Kreditbedienung im Jahr 2023: 224,6 Millionen US-Dollar

• Kreditbearbeitungssysteme: 78,3 Millionen US-Dollar
• Kundensupport-Infrastruktur: 52,1 Millionen US-Dollar
• Risikomanagementsysteme: 94,2 Millionen US-Dollar

Aufwendungen für Marketing und Kundenakquise

Marketingbudget für 2023: 142,5 Millionen US-Dollar

Marketingkanal	Ausgaben ($)
Digitales Marketing	58,700,000
Traditionelle Werbung	36,200,000
Kundenempfehlungsprogramme	47,600,000

Ausgaben für die Einhaltung gesetzlicher Vorschriften

Compliance-bezogene Kosten im Jahr 2023: 98,7 Millionen US-Dollar

• Rechtsberatung: 32,4 Millionen US-Dollar
• Compliance-Software und -Systeme: 41,3 Millionen US-Dollar
• Prüfung und Berichterstattung: 25,0 Millionen US-Dollar

Gehälter und Leistungen der Mitarbeiter

Gesamtpersonalaufwand für 2023: 512,3 Millionen US-Dollar

Ausgabenkategorie	Betrag ($)
Grundgehälter	387,600,000
Krankenversicherung	62,500,000
Altersvorsorgeleistungen	42,200,000
Leistungsprämien	20,000,000

SLM Corporation (SLM) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Studiendarlehen

Im dritten Quartal 2023 meldete die SLM Corporation einen Nettozinsertrag aus Studiendarlehen in Höhe von 667 Millionen US-Dollar. Der Gesamtsaldo des Studentendarlehensportfolios belief sich zum 30. September 2023 auf 22,5 Milliarden US-Dollar.

Metrisch	Betrag	Zeitraum
Nettozinsertrag	667 Millionen US-Dollar	Q3 2023
Gesamtportfolio an Studienkrediten	22,5 Milliarden US-Dollar	30. September 2023

Gebühren für die Kreditvergabe

Die SLM Corporation erwirtschaftete im Geschäftsjahr 2022 Kreditvergabegebühren in Höhe von 154,3 Millionen US-Dollar.

Gebühren für Refinanzierungstransaktionen

Die Refinanzierungstransaktionsgebühren für SLM beliefen sich im Jahr 2022 auf insgesamt 87,6 Millionen US-Dollar.

Bearbeitungsgebühren von Finanzinstituten

Servicetyp	Gebühreneinnahmen	Jahr
Gebühren für die Kreditbearbeitung	213,4 Millionen US-Dollar	2022

Monetarisierung digitaler Plattformen

• Umsatz mit digitalen Plattformen: 46,2 Millionen US-Dollar im Jahr 2022
• Gebühren für den Online-Kreditantrag: 22,7 Millionen US-Dollar
• Transaktionsgebühren für digitale Dienste: 23,5 Millionen US-Dollar

Gesamteinnahmequellen der SLM Corporation im Jahr 2022: 1,179 Milliarden US-Dollar

SLM Corporation (SLM) - Canvas Business Model: Value Propositions

You're looking at how SLM Corporation delivers value to its customers and the market as of late 2025. It's about more than just the money; it's about the structure that supports that money flow and the borrower experience.

Private Student Loans: Financing for undergraduate and graduate education expenses

SLM Corporation's core value is providing the financing gap-filler for higher education. The origination engine is clearly running strong, showing commitment to this segment even as market dynamics shift. For instance, private education loan originations for the third quarter of 2025 hit $2.9 billion, marking a 6% increase from the prior year period. The total private student loan portfolio, net of allowance, stood at $21.6 billion as of September 30, 2025. We see this focus on quality continuing, too; the average FICO score at approval for new loans in Q3 2025 was 756, and the cosigner rate was 95%. That's a high bar for entry, honestly.

Here are the key metrics showing the scale of their financing proposition:

Metric	Value (Late 2025)	Period/Context
Private Education Loan Originations	$2.9 billion	Q3 2025
Private Student Loan Portfolio (Net)	$21.6 billion	As of September 30, 2025
Average FICO Score at Approval	756	Q3 2025
Cosigner Rate	95%	Q3 2025

Financial Flexibility: Multiple repayment options and forbearance programs for borrowers

The value proposition extends past the initial funding into the repayment phase, offering borrowers ways to manage stress when things get tight. SLM Corporation works with customers facing hardship to find alternative arrangements, which can include short-term forbearance. As of September 30, 2025, loans in hardship and other forbearances totaled approximately $166 million. This represented about 1.00% of loans in repayment at that time. To be fair, delinquencies did tick up slightly, with 4.01% of loans in repayment being delinquent as of Q3 2025, compared to 3.60% a year prior. Still, the company emphasizes working through these issues.

You can see the scale of their active support programs:

• Loans in hardship/forbearance (Q3 2025): $166 million
• Percentage of loans in hardship forbearance (Q3 2025): 1.00%
• Delinquencies (30+ days) (Q3 2025): 4.01% of loans in repayment

Responsible Lending: Tools and resources promoting financial literacy and informed borrowing

SLM Corporation positions itself as providing the know-how to support access to college and beyond. This is often demonstrated through their community engagement and scholarship efforts, which tie directly into the idea of informed financial planning. For example, The Sallie Mae Fund, in partnership with the Thurgood Marshall College Fund, awarded 40 high school students a $10,000 Bridging the Dream Scholarship in early 2025. Separately, the company announced awarding $500,000 in scholarships around that time. These programs underscore a commitment to the educational journey, not just the loan balance.

Capital-Efficient Growth: Strategic loan sales (like the KKR deal) to optimize the balance sheet

This is where the business model really shows its strategic depth-managing the balance sheet actively to fund future growth. SLM Corporation is clearly using loan sales as a key lever. In Q3 2025 alone, the company sold $1.9 billion in private education loans. This was a continuation of a strategy that saw a $2 billion loan sale in Q1 2025, which generated $188 million in gains. The major development is the multi-year partnership with KKR, where KKR will purchase more than $6 billion in loans over three years, including a minimum of $2 billion annually, plus an initial seed portfolio. This deal is explicitly designed to expand origination capacity and "unlock the potential for off-balance sheet capital efficiency."

The impact of these sales on the P&L and balance sheet optimization is tangible:

• Loan sales volume (Q3 2025): $1.9 billion
• Provision for credit losses release from loan sales (Q3 2025): $119 million
• KKR annual purchase commitment: $2 billion for at least three years
• Total KKR deal value (over three years, excluding seed): $6 billion+

Finance: draft 13-week cash view by Friday.

SLM Corporation (SLM) - Canvas Business Model: Customer Relationships

You're looking at how SLM Corporation manages the ongoing relationship with borrowers after the loan is originated. This is critical because the value of a student loan asset is directly tied to the borrower's long-term engagement and payment behavior. SLM Corporation focuses on keeping servicing in-house to maintain direct borrower contact, which informs their proactive outreach strategies.

The performance of their loss mitigation efforts shows the effectiveness of these relationships. For instance, of the borrowers who have been in their loan modification programs for over a year as of Q2 2025, 80% are consistently making payments. This suggests a high success rate in re-establishing sustainable repayment plans for customers facing difficulty. Still, you have to watch the delinquency buckets as they shift.

Here's the quick math on where the portfolio stood in terms of current credit quality through the third quarter of 2025:

Metric	Q1 2025	Q2 2025	Q3 2025
30+ Day Delinquency (% of loans in repayment)	3.6%	3.5%	Data not specified for Q3, but Q2 was down from Q1.
Net Charge-Offs (NCO) Rate (% of average loans in repayment)	1.88% (Annualized)	2.36%	Year-to-date NCO rate (as of Q2) was 2.11%.
Loans in Hardship Forbearance (% of average loans outstanding)	0.92%	Data not specified	Data not specified

The underwriting discipline also reflects the relationship quality at origination. In Q1 2025, the Cosigner Rate was 93%, up from 91% the prior year, and the Average FICO at Approval improved to 753 from 748. By Q2 2025, the Cosigner Rate was 84% and the Average FICO was 754. These figures show SLM Corporation is selecting higher-quality borrowers, which inherently reduces the need for intensive post-origination relationship management.

SLM Corporation supports its customers through various tools designed to help them plan and pay for college, which is a core part of their mission. While specific 2025 digital adoption numbers for online account management portals aren't explicitly detailed here, the company's commitment is evident in its resource allocation and direct support programs.

• In fiscal year 2024, SLM Corporation dedicated $2 million to financial literacy programs.
• For 2025, SLM Corporation, through The Sallie Mae Fund, announced it would award $500,000 in scholarships via its Bridging the Dream Scholarship Program, with applications open until December 1, 2025.

The proactive outreach for loan modification and repayment is largely evidenced by the performance metrics already noted, but it's also tied to their broader view of the market. For example, the expected increase in private loan demand due to federal reforms-projected to create an additional $4.5 billion to $5 billion in annual originations-requires SLM Corporation to have scalable, automated systems ready to onboard and service these new customers efficiently. The company reported Q3 2025 GAAP diluted EPS was $0.63 per share, and Net Interest Income was $373 million, showing the scale of the business they are managing relationships within.

Finance: review the Q4 2025 servicing cost per loan against the Q3 2025 figure by next Tuesday.

SLM Corporation (SLM) - Canvas Business Model: Channels

Direct-to-Consumer Digital: Sallie Mae's website and mobile application for applications.

The digital channel drives significant origination volume, supported by strong borrower credit profiles.

Metric	Q1 2025 Value	Q2 2025 Value	Q3 2025 Value
Loan Originations	$2.8 billion	Not specified	$2.9 billion
Cosigner Rate	93%	84%	Not specified
Average FICO at Approval	753	754	Not specified

SLM Corporation continues to see robust credit quality in originations flowing through its platforms. The company is also focused on creating new tools to connect individuals to scholarships and complete the Free Application for Federal Student Aid (FAFSA) through these digital resources.

School Financial Aid Offices: Partnerships facilitating loan certification and disbursement.

SLM Corporation maintains its industry-leading on-campus presence through direct relationships with educational institutions.

• - Number of higher education institutions actively partnered with: more than 2,000.
• - The relationship management team is described as the largest in the industry.
• - The company is committed to supporting college and university partners to help students access and complete higher education.

Direct Mail and Email Marketing: Targeted campaigns to prospective borrowers.

While specific SLM Corporation marketing spend is not detailed, the Financial Services industry context shows an increased reliance on direct mail in 2025.

• - Financial Services companies plan to increase direct mail volumes from an average of 48.3 million in 2024 to 69 million in 2025.
• - 67% of marketers reported improved direct mail performance over the 12 months leading up to July 2025, the highest lift among all direct marketing channels.
• - 87% of marketers plan to increase or maintain their direct mail budgets over the next 12 months.

Retail Banking Branches: Online-only presence for deposit products (savings, CDs).

The deposit products channel is entirely online, providing a stable funding base for SLM Corporation's operations.

Deposit Product Metric	Latest Reported Value (as of 12/31/2024)
Total Deposits	$21,068.568 million
Deposit Funding Mix	Includes brokered and retail deposits

SLM Corporation offers high-yield savings accounts and Certificate of Deposit (CD) accounts through this online retail banking segment.

SLM Corporation (SLM) - Canvas Business Model: Customer Segments

Creditworthy Students and Families: Primary borrowers for private education loans.

For the third quarter of 2025, SLM Corporation reported private education loan originations of $2.9 billion, marking a 6% growth from the year-ago quarter. The first quarter of 2025 saw originations at $2.8 billion, which was a 7.3% year-over-year increase. The credit profile for new originations remains strong, with the Cosigner Rate increasing to 93% in Q1 2025, up from 91% in Q1 2024. The Average FICO at Approval for the Q1 2025 portfolio was 753.

The total private student loan portfolio, net of allowance, stood at $21.6 billion as of September 30, 2025. Average loans outstanding, net, for Q3 2025 were $22.3 billion, a 9% increase from Q3 2024.

Graduate and Professional Students: Segment with often higher borrowing needs.

The segment of graduate and professional students contributes to the overall loan origination volume. The company's marketing strategy includes promoting products through financial aid offices at over 2,000 higher education institutions.

The following table summarizes key private education loan metrics for SLM Corporation as of mid-to-late 2025:

Metric	Value (Q3 2025)	Value (Q1 2025)	Date/Period
Private Education Loan Originations	$2.9 billion	$2.8 billion	Q3 2025 / Q1 2025
Origination Growth (YoY)	6%	7.3%	Q3 2025 / Q1 2025
Portfolio Balance (Net of Allowance)	$21.6 billion	$21.091 billion	Sept 30, 2025 / Mar 31, 2025
Average FICO at Approval	Not specified	753	Q1 2025
Cosigner Rate	Not specified	93%	Q1 2025

Retail Depositors: Individuals seeking high-yield savings and certificate of deposit (CD) accounts.

SLM Corporation maintains a significant base of retail depositors funding its operations. As of March 31, 2025, total deposits were $20,073 million, with Retail and other deposits accounting for $11,384 million. By June 30, 2025, total deposits grew to $20,482 million, with Retail and other deposits at $11,890 million.

The deposit mix for Q3 2025 showed that retail and other deposits represented approximately 61% of the total deposit portfolio, with brokered deposits at about 39%.

Institutional Investors: Buyers of loan portfolios and student loan Asset-Backed Securities (ABS).

SLM Corporation actively sells portions of its loan portfolio to institutional investors. In the third quarter of 2025, the company executed private student loan sales totaling $1.94 billion, resulting in gains on loan sales of $136 million for the quarter. The company successfully settled its first student loan ABS transaction of the year on May 7, 2025.

The company's commitment to this funding channel is evident:

• - First student loan ABS transaction settled on May 7, 2025.
• - Private student loan sales volume in Q3 2025 reached $1.94 billion.
• - Gains on loan sales for Q3 2025 were $136 million.

SLM Corporation (SLM) - Canvas Business Model: Cost Structure

When you look at the cost structure for SLM Corporation, you're primarily looking at the cost of money and the cost of running a sophisticated lending operation. For the third quarter of 2025, the key expense drivers were quite clear, though some figures are bundled together.

The single largest cost related to funding the loan portfolio, the Interest Expense, was reported at $284.61 million for Q3 2025. This number reflects the cost of the various borrowings and deposits SLM Corporation uses to finance its assets. To put that in context against what they earned from those assets, the Net Interest Income for the same period was $373 million.

Managing credit risk is a major operational cost, and that shows up in the reserves set aside for bad loans. The Provision for Credit Losses in Q3 2025 was $179 million. To be fair, this figure was significantly lower than the $271 million recorded in Q3 2024, largely because of a $119 million release of provision tied to a loan sale during the quarter. Still, the underlying credit quality metrics matter; net charge-offs for the quarter were $78 million, representing an annualized rate of 1.95% of average loans in repayment.

The day-to-day running of the business falls under Non-Interest Operating Expenses, which totaled $180 million in Q3 2025. This covers everything from the tech stack that processes applications to the personnel who service the loans and the marketing to attract new customers. Management reaffirmed its full-year 2025 projection for these expenses to land between $655 million and $675 million.

Here's a quick look at the key Q3 2025 cost components we have data for:

Cost Component	Q3 2025 Amount (in millions)	Context/Related Metric
Interest Expense	$284.61	Cost of funding the loan portfolio
Provision for Credit Losses	$179	Reserves for expected defaults
Non-Interest Expenses	$180	Technology, personnel, marketing, etc.

Regarding Loan Origination Costs, the specific expense line item isn't broken out in the immediate reports, but we know the scale of the activity driving those costs. SLM Corporation originated $2.9 billion in private education loans during Q3 2025, which was a 6.4% increase year-over-year. These origination activities-processing, underwriting, and closing-are certainly baked into that $180 million Non-Interest Expense figure.

You should also keep an eye on the components that make up the Non-Interest Expenses, as that's where management has direct control over operational efficiency. The key areas driving that spend include:

• Technology infrastructure and system maintenance.
• Personnel costs for servicing and collections teams.
• Marketing spend to drive new loan applications.
• General administrative overhead.

Finance: draft 13-week cash view by Friday.

SLM Corporation (SLM) - Canvas Business Model: Revenue Streams

You're looking at how SLM Corporation, or Sallie Mae, actually brings in the cash to fund its operations and growth in late 2025. It's a mix of traditional lending income and fee-based services, which is smart for resilience. Here's the quick math on the key drivers from the third quarter of 2025, which gives us a solid snapshot of their current model.

Revenue Component	Q3 2025 Amount (Millions USD)	Source Type
Net Interest Income (NII)	$373 million	Core Lending Spread
Other Service Charge Income	$31.87 million	Banking/Service Fees
Net Realized Capital Gains (Loan Sales)	$140.83 million	Asset Monetization

That table shows the core, quantifiable streams. The Net Interest Income, which is the spread between what SLM Corp earns on its loan book and what it pays for funding, hit $373 million in Q3 2025. That's the engine room of the business, honestly. Their Net Interest Margin for the quarter was 5.18%, up 18 basis points year-over-year, which is a positive sign for core profitability, even if it was slightly down from the prior quarter due to liquidity drag.

The income from selling loans, listed as Net Realized Capital Gains, was a significant $140.83 million for the quarter. This stream is important because it shows SLM is successfully monetizing its originations, often at a premium, which helps capital efficiency. This is directly linked to their loan origination activity, which saw private education loan originations grow to $2.9 billion in the quarter, up 6% year-over-year.

Beyond the interest and sale gains, fee income provides a steady, less interest-rate-sensitive component to the revenue mix. You need to watch these service fees closely, especially with the new strategic moves SLM is making.

• Net Interest Income (NII): Interest earned on the loan portfolio minus interest paid on funding, reported at $373 million for Q3 2025.
• Loan Sale Gains: Income from selling originated loans at a premium; Q3 2025 net realized capital gains were $140.83 million.
• Other Service Charge Income: Fees generated from banking products and various loan-related services, totaling $31.87 million in Q3 2025.
• Loan Servicing Fees: Fee income derived from managing loans for third-party partners.

The Loan Servicing Fees stream is gaining structural importance due to the recent multi-year strategic partnership with KKR, announced in November 2025. Under that deal, KKR will purchase at least $2 billion in new private education loans annually for an initial three-year term. SLM Corporation retains the customer relationships and the responsibility for servicing those loans sold to KKR. This means SLM earns ongoing fees for providing servicing, program management, and industry expertise on that substantial off-balance sheet portfolio. This move is designed to create a more resilient, capital-light, and consistent earnings profile by generating predictable fee revenue.

Finance: draft 13-week cash view by Friday.