SLM Student Loan Trust 2006-7 8-K

What Happened

• SLM Student Loan Trust 2006-7 filed an 8-K (July 20, 2026) reporting that an affiliate of Navient Funding, LLC plans actions in upcoming auctions for trust notes.
• For the Class A-6B Notes auction on July 22, 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 July 24, 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. An Event Notice is attached as Exhibit 99.1.

Key Details

• Filing date: July 20, 2026 (Form 8-K, Item 8.01; Exhibit 99.1 attached).
• A-6B auction date: July 22, 2026 — affiliate to submit Hold Order for all issued/outstanding A-6B Notes it holds.
• A-6C auction date: July 24, 2026 — affiliate to submit buy bids for outstanding A-6C Notes it does not hold at 30‑day Avg SOFR + 0.11448% + 1.50% per year, and Hold Order for A-6C Notes it holds.

Why It Matters

• These filings tell investors that a Navient affiliate will be an active participant and potential buyer in the upcoming auctions, and that it currently holds all issued A-6B Notes.
• The hold orders and buy bids can affect auction outcomes, liquidity, and who owns these notes after the auctions — factors that influence market pricing and potential cash flows for affected note classes.
• The filing is informational; it does not change the trust’s terms but signals likely stability of ownership and a specified bid rate for A-6C notes in the July auctions.