SLM Student Loan Trust 2006-7 8-K

What Happened

• The trust filed an 8-K (Apr 27, 2026) reporting actions related to upcoming auctions for its Class A‑6 notes. An affiliate of Navient Funding, LLC intends to submit a Hold Order for all issued and outstanding Class A‑6B Notes at the auction on April 29, 2026.
• For the Class A‑6C auction on May 1, 2026, the same affiliate intends to submit buy bids for all A‑6C Notes it does not currently hold at a rate of 30‑day Average SOFR + 0.11448% + 1.50% per annum, and a Hold Order for the A‑6C Notes it already holds. The filing attaches an Event Notice as Exhibit 99.1.

Key Details

• Auction dates: Class A‑6B — April 29, 2026; Class A‑6C — May 1, 2026.
• Affiliate: an affiliate of Navient Funding, LLC is the party submitting the orders.
• Bid rate for A‑6C buy bids: 30‑day Average SOFR + 0.11448% + 1.50% per annum.
• The affiliate currently holds all issued and outstanding Class A‑6B Notes and will submit a Hold Order for them.

Why It Matters

• These actions affect the supply/demand dynamics and potential interest rates for the Class A‑6B and A‑6C note auctions, which can influence payments to noteholders and trading prices.
• The filing is a factual disclosure of intended auction orders by a related party (an affiliate of Navient Funding, LLC); investors in these notes should note the planned holding and bidding activity and review the Event Notice (Exhibit 99.1) for full details.