SLM Student Loan Trust 2006-7 8-K

What Happened

• SLM Student Loan Trust 2006-7 filed an 8-K (Item 8.01) on March 30, 2026 reporting that an affiliate of Navient Funding, LLC intends to participate in upcoming auctions for the trust’s Class A-6 notes.
• For the Class A-6B Notes auction on April 1, 2026, the affiliate will submit a Hold Order for the Class A-6B Notes it currently holds — which represent all issued and outstanding Class A-6B Notes.
• For the Class A-6C Notes auction on April 3, 2026, the affiliate will submit buy bids for all outstanding Class A-6C Notes it does not currently hold at a rate equal to 30‑day Average SOFR + 0.11448% + 1.50% per annum, and will submit a Hold Order for the Class A-6C Notes it currently holds.
• The filing includes an Event Notice as Exhibit 99.1 with additional information.

Key Details

• Auction dates: Class A-6B — April 1, 2026; Class A-6C — April 3, 2026.
• A Navient Funding, LLC affiliate holds all issued and outstanding Class A-6B Notes and will submit a Hold Order for them.
• For A-6C Notes, buy bids will be submitted at: 30‑day Average SOFR + 0.11448% + 1.50% per annum.
• Disclosure made under Item 8.01 (Other Events); Event Notice attached as Exhibit 99.1.

Why It Matters

• The filing formally notifies investors that a Navient affiliate will actively participate in these April auctions by submitting specified hold orders and buy bids at a disclosed rate.
• Holders or potential bidders in the Class A-6B and A-6C notes should review the attached Event Notice (Exhibit 99.1) for full terms and consider this participation when evaluating liquidity and auction mechanics for these note classes.