SALLIE MAE SLASHES 2026 PROFIT OUTLOOK

Sallie Mae ($SLM) swung to a $32.3 million net loss in the third quarter, reversing a $135.9 million profit from a year earlier. The student lender cut its full-year 2026 earnings guidance to a range of $1.95 to $2.05 per share, down from $3.10 to $3.20, citing flawed third-party debt-collection practices alongside a tougher macroeconomic backdrop. The company also raised its forecast for bad loans for the year.