Full-Time
Posted on 5/14/2026
No salary listed
New Castle, DE, USA
Hybrid
Hybrid role; on-site in New Castle, DE with flexible remote options.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Newark, New Jersey
Founded
1972
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401(k) Retirement Plan
401(k) Company Match
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Pet Insurance
Unlimited Paid Time Off
Paid Holidays
Flexible Work Hours
Hybrid Work Options
Parental Leave
Adoption Assistance
Tuition Reimbursement
Family Scholarship Programs
Career Development Budget
Training Programs
Wellness Program
Gym Membership
Loans originated under Sallie Mae's Smart Option loan program, which have demonstrated significantly lower default rates compared with those from the Signature program, make up the entire collateral pool.
Sallie Mae has raised $1.5 billion through its latest asset-backed securities deal, according to DBRS. The entire collateral pool consists of loans originated under the company's Smart Option programme, which has demonstrated significantly lower default rates compared with its Signature programme. The improved performance is attributed to better credit quality amongst Smart Option borrowers and tighter underwriting guidelines. Asset-backed securities deals allow lenders to package loans and sell them to investors, freeing up capital for new lending.
Sallie Mae Bank has priced a $618 million student loan asset-backed securities transaction, its first deal in 2026. The securities are backed by seasoned private education loan assets originated and serviced by Sallie Mae Bank. The company reported strong investor demand, with the offering distributed across a range of institutional investors. Chief financial officer Pete Graham said the transaction achieved tighter pricing than Sallie Mae's previous on-balance-sheet asset-backed securities deal despite current market volatility. The offering supports the company's diversified funding strategy and reinforces its position as a regular issuer in the student loan asset-backed securities market. Sallie Mae provides private student loans and financial products designed to support access to higher education.
Sallie Mae has appointed Steve Turner as Chief Technology and Enablement Officer, overseeing technology architecture, IT innovation, data and security. Turner brings over 25 years of technology leadership experience, most recently serving as Managing Director and Head of Data, Analytics, Insights and Marketing Technology at Bank of America. Before Bank of America, Turner spent more than a decade at Walgreens, leading digital transformation in roles including Chief Information Officer and Senior Vice President of Digital Operations. He holds a Bachelor of Science in Computer Science from Chapman University and an MBA from Northwestern University's Kellogg School of Management. In his new role, Turner will lead Sallie Mae's digital transformation and data strategy to enhance customer experiences for students and families accessing higher education financing.
Sallie Mae shares rose 3.9% after the student loan provider reported fourth-quarter 2025 results that exceeded Wall Street expectations. The company posted earnings of $1.12 per share, beating analyst estimates of $0.94, whilst revenue reached $454.1 million against forecasts of $449.7 million, representing a 16.4% year-on-year increase. However, net interest income of $377.1 million fell slightly short of expectations. The company's full-year 2026 earnings guidance of $2.75 per share at the midpoint also missed analyst estimates by 1%. Two months ago, the stock dropped 16.4% after multiple analyst downgrades citing concerns about higher expense outlooks. Morgan Stanley downgraded from 'Overweight' to 'Equalweight', whilst Compass Point cut its rating from 'Buy' to 'Sell'. Sallie Mae currently trades at $27.42 per share.