SLM Student Loan Trust 2006-7 8-K

What Happened
SLM Student Loan Trust 2006-7 filed a Form 8-K on May 22, 2026, reporting that an affiliate of Navient Funding, LLC plans to participate in upcoming note auctions. For the Class A-6B auction on May 27, 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 auction on May 29, 2026, the affiliate intends to submit buy bids for all outstanding A-6C Notes it does not currently hold at a rate equal to 30‑day Average SOFR + 0.11448% + 1.50% per annum, and will submit a Hold Order for the A-6C Notes it currently holds. The filing includes an Event Notice as Exhibit 99.1.

Key Details

• Form 8-K filed May 22, 2026, discloses auction actions tied to the SLM Student Loan Trust 2006-7.
• May 27, 2026: Navient affiliate will submit a Hold Order for all issued and outstanding Class A-6B Notes it holds.
• May 29, 2026: Navient affiliate will submit buy bids for all outstanding Class A-6C Notes it does not hold at 30-day Average SOFR + 0.11448% + 1.50% p.a., and Hold Orders for A-6C Notes it already holds.
• The affiliate involved is an affiliate of Navient Funding, LLC; additional details are in Exhibit 99.1 (Event Notice).

Why It Matters
These announced hold and buy orders show active participation by a related-party holder in the trust’s note auctions. For investors, that could affect auction outcomes, available supply, and pricing/liquidity for the Class A-6B and A-6C notes (A-6B is already fully held by the affiliate; A-6C could see increased concentration). Review the Event Notice (Exhibit 99.1) for full terms and consult your advisor if you hold or are considering exposure to these trust notes.