SLM Student Loan Trust 2006-7: affiliate to submit auction hold and buy bids

What happened

• The filing reports that an affiliate of Navient Funding, LLC intends to submit a Hold Order for the Class A-6B Notes it currently holds at the auction occurring on Oct 14, 2026. The filing states those notes "represent all of the issued and outstanding Class A-6B Notes."
• The filing also reports that the same affiliate intends to submit buy bids for all outstanding Class A-6C Notes it does not currently hold at the auction occurring on Oct 16, 2026 at a rate equal to 30-day Average SOFR + 0.11448% + 1.50% per annum, and to submit a Hold Order for the Class A-6C Notes it currently holds.

Key details

• affiliate: an affiliate of Navient Funding, LLC.
• Oct 14, 2026: will submit a Hold Order for all issued and outstanding Class A-6B Notes it holds.
• Oct 16, 2026: will submit buy bids for all outstanding Class A-6C Notes it does not hold at 30-day Average SOFR + 0.11448% + 1.50% per annum, and hold orders for A-6C Notes it does hold.
• the filing refers to an event notice for more information.

Why it may matter

• This is Item 8.01 (Other events), which covers other events the registrant is disclosing, here actions the affiliate intends to take at the scheduled auctions for the trust's Class A-6B and Class A-6C notes. The filing does not show why the insider traded or why the company acted.