SLM Hit With Investor Class Action Over Private Loan Delinquency Claims

Overview

• Plaintiffs filed a securities class action in the District of New Jersey covering SLM purchases from July 25 to August 14, 2025.
• The complaint alleges SLM and certain executives misrepresented rising early‑stage delinquencies and overstated the effectiveness of loss‑mitigation and loan modification programs.
• Filings cite an August 14 TD Cowen report noting July delinquencies rose 49 basis points month over month, driven by a 45 bp increase in early‑stage delinquencies.
• The suit asserts the TD Cowen findings conflicted with late‑July assurances by CFO Peter M. Graham about seasonal trends and says SLM’s stock fell about 8% after the report.
• Robbins Geller, Holzer & Holzer, Bernstein Liebhard, and Bronstein Gewirtz & Grossman are soliciting investors for lead‑plaintiff motions, and the allegations have not been adjudicated.