SLM Student Loan Trust 2006-7 8-K

What Happened

• SLM Student Loan Trust 2006-7 filed an 8-K on March 2, 2026 reporting that an affiliate of Navient Funding, LLC plans to participate in upcoming note auctions. For the March 4, 2026 auction the affiliate intends to submit a Hold Order for all issued and outstanding Class A-6B Notes it currently holds. For the March 6, 2026 auction the affiliate intends to submit buy bids for all outstanding Class A-6C Notes it does not hold at a rate equal to 30‑day Average SOFR + 0.11448% + 1.50% per annum, and a Hold Order for the Class A-6C Notes it currently holds.
• The filing includes an Event Notice attached as Exhibit 99.1 with the full details.

Key Details

• Filing date: March 2, 2026 (Form 8-K, Item 8.01; Exhibit 99.1).
• Class A-6B action: Hold Order for all issued and outstanding A-6B Notes the affiliate holds (auction on March 4, 2026).
• Class A-6C action: Buy bids for all A-6C Notes not currently held at 30‑day Average SOFR + 0.11448% + 1.50% p.a., plus Hold Order for notes already held (auction on March 6, 2026).
• Participant: An affiliate of Navient Funding, LLC (no change in issuer or trustee disclosed).

Why It Matters

• These actions affect the supply offered in the scheduled auctions and could influence clearing yields and short-term liquidity for the Class A-6B and A-6C notes. A Hold Order reduces available supply in the auction; buy bids at a specified SOFR‑based rate signal the affiliate’s willingness to acquire additional notes at that yield.
• For retail investors, this is a procedural disclosure about auction participation rather than a change to the trust’s underlying assets or credit terms. Investors tracking note liquidity, auction outcomes, or short‑term funding costs for these classes should review the Event Notice (Exhibit 99.1) for full details.