SLM cut its full-year EPS guidance to $1.95 to $2.05 from $3.10 to $3.20, mainly because it canceled a planned October loan sale when expected premiums fell below its minimum threshold amid capital market volatility. It also raised full-year net charge-off guidance to $400 million to $420 million from $345 million to $385 million, citing pressures from third-party debt resolution practices. Private education loan originations rose 15% to a record $3.4 billion, while graduate loan originations jumped 119% to $1.4 billion. The company signed a three-year strategic partnership with Sixth Street, including a $1.5 billion minimum annual purchase commitment and an initial $600 million seed portfolio sale. In the quarter, management repurchased 5.1 million shares for $132 million.
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