SLM Student Loan Trust 2006-7 8-K

What Happened
SLM Student Loan Trust 2006-7 filed an Form 8-K (Item 8.01) on January 8, 2026 disclosing actions by an affiliate of Navient Funding, LLC related to upcoming note auctions. For the Class A-6B notes auction on January 7, 2026, the affiliate intends to submit a Hold Order for the Class A-6B notes it currently holds — which represent all issued and outstanding A-6B notes. For the Class A-6C notes auction on January 9, 2026, the affiliate intends to submit buy bids for all outstanding A-6C notes it does not hold at a rate equal to 30-day Average SOFR + 0.11448% + 1.50% per annum, and to submit a Hold Order for the A-6C notes it currently holds. The filing attaches an Event Notice as Exhibit 99.1 for more detail.

Key Details

• Auction dates: Class A-6B on January 7, 2026; Class A-6C on January 9, 2026.
• Class A-6B: affiliate will submit a Hold Order for all issued and outstanding A-6B notes it holds.
• Class A-6C: affiliate will submit buy bids for all outstanding A-6C notes it does not hold at 30-day Average SOFR + 0.11448% + 1.50% p.a., and a Hold Order for A-6C notes it holds.
• Disclosure made via 8-K Item 8.01 with Event Notice attached as Exhibit 99.1.

Why It Matters
These actions affect the supply and bidding dynamics in the trust’s scheduled note auctions. A Hold Order for all outstanding A-6B notes means no sale of those notes by the affiliate, while buy bids for remaining A-6C notes at a specified SOFR‑based rate could limit yields or result in the affiliate acquiring additional paper. For investors in the trust or related securities, this can influence liquidity, auction pricing, and short-term yield outcomes for the affected classes.