SLM Student Loan Trust 2006-7 filed an 8-K on September 14, 2026, announcing the actions of an affiliate of Navient Funding, LLC, the Trust's depositor, regarding upcoming auctions for two series of auction rate notes.
The affiliate intends to submit a Hold Order for all Class A-6B Notes in an auction scheduled for September 16, 2026. The affiliate currently holds the full $27,750,000 outstanding amount of these Class A-6B Notes, with CUSIP 78443GAG0.
Separately, for the auction of Class A-6C Notes scheduled for September 18, 2026, the affiliate plans to submit buy bids for all outstanding Notes it does not currently hold. The buy rate for these notes is set at SOFR + 1.50% per annum. The affiliate currently holds $27,700,000 of the Class A-6C Notes, with CUSIP 78443GAH8, and will submit a Hold Order for this portion as well.
