SLM Student Loan Trust 2006-7 filed a current report on October 9, 2026, disclosing plans by an affiliate of Navient Funding, LLC to manage upcoming auction rates for two specific classes of auction-rate notes.
The affiliate intends to submit a Hold Order for the Class A-6B Notes during the auction scheduled for October 14, 2026. The Class A-6B Notes have a total outstanding principal amount of $27,750,000. The affiliate currently holds all of these issued and outstanding notes.
For the auction of the Class A-6C Notes scheduled for October 16, 2026, the affiliate plans to submit buy bids for any outstanding notes it does not currently hold. The Class A-6C Notes also have a total outstanding principal amount of $27,750,000. The affiliate currently holds $27,700,000 of these notes.
The affiliate intends to submit a Hold Order for the Class A-6C Notes it currently holds. The buy bid rate for the Class A-6C Notes is set at SOFR + 1.50% per annum. The filing notes that the Class A-6B Notes are governed by an indenture dated August 1, 2006.
