UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 


FORM 8-K
 


CURRENT REPORT
 
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date earliest event reported):  September 20, 2021



(Exact name of issuer as specified in its charter)
SLM STUDENT LOAN TRUST 2006-7



DELAWARE
333-132315/
333-132315-07
57-1176559
(State or other jurisdiction of formation)
(Commission File Numbers)
(I.R.S. employer Identification No.)

c/o Deutsche Bank Trust Company Americas
60 Wall Street, 60th Floor
Mail Stop NYC60-2606
New York, New York 10005
(Address of registrant’s principal executive offices)
 
Registrant’s telephone number including area code:  (703) 984-6890
 


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below);
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 
Emerging Growth Company  ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
Securities registered pursuant to Section 12(b) of the Act:

Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Not Applicable
Not Applicable
Not Applicable



ITEM 8.01
Other Events

For the auction for the SLM Student Loan Trust 2006-7 Class A-6B Notes occurring on September 22, 2021, an affiliate of Navient Funding, LLC intends to submit buy bids for all outstanding Notes that it does not currently hold of each of the Class A-6B Notes and the Class A-6C Notes at a rate equal to one-month LIBOR + 1.25% per annum.  Navient Funding, LLC’s affiliate plans to submit a Hold Order for the Class A-6B Notes and the Class A-6C Notes that it currently holds. For more information review the Event Notice attached hereto as Exhibit 99.1.
 
ITEM 9.01
Financial Statements and Exhibits
 
(a) Not applicable
 
(b) Not applicable
 
(c) Not applicable
 
(d) Exhibits
 
99.1 Event Notice


SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Trust has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
NAVIENT SOLUTIONS, LLC, as Administrator for
SLM STUDENT LOAN TRUST 2006-7
   
Dated:  September 20, 2021
By: 
/s/ CHARLES S. BOOHER

 
Name:  Charles S. Booher
 
 
Title:    Vice President


SLM STUDENT LOAN TRUST 2006-7
 
Form 8-K
 
CURRENT REPORT
 
INDEX TO EXHIBITS
 
Exhibit
Number
Description


Event Notice





Exhibit 99.1

Event Notice
Dated September 20, 2021

Issuer:
SLM Student Loan Trust 2006-7
   
Depositor:
Navient Funding, LLC
 
Notes to which this Event Notice relates:
$65,650,000 Auction Rate Class A-6B Notes (the “Class A-6B Notes”)
 
$65,650,000 Auction Rate Class A-6C Notes (the “Class A-6C Notes”)

CUSIP Numbers:
Class A-6B Notes: 
78443GAG0
 
Class A-6C Notes:
78443GAH8
   
Event Reported:
Buy Rates to be Bid by an affiliate of the Depositor in Future Auctions

Buy Rates to be Bid by an affiliate of the Depositor in Future Auctions

For the auction for the Class A-6B Notes occurring on September 22, 2021, an affiliate of the Depositor intends to submit buy bids for all outstanding Notes that it does not currently hold of each of the Class A-6B Notes and the Class A-6C Notes at a rate equal to LIBOR + 1.25% per annum.
 
The previous auctions for the Class A-6B Notes have resulted in the Depositor’s affiliate holding $53,200,000 of the Class A-6B Notes.  The Depositor’s affiliate plans to submit a Hold Order for the Class A-6B Notes and Class A-6C Notes it currently holds.
 
The previous auctions for the Class A-6C have resulted in the Depositor’s affiliate holding $16,350,000 of the Class A-6C Notes.  The Depositor’s affiliate plans to submit a Hold Order for the Class A-6B Notes and Class A-6C Notes it currently holds.
 
Capitalized terms used herein and not otherwise defined have the meanings ascribed to such terms in the Issuer’s indenture, dated as of August 1, 2006.

The information contained in this Event Notice has been submitted by the Depositor to report certain events and future plans of an affiliate of the Depositor with respect to the Notes. Nothing contained in this Event Notice is, or should be construed as, a representation by the Depositor that the information included in this Event Notice constitutes all of the information that may be material to a decision to invest in, hold or dispose of any of the securities listed above, or any other securities of the Issuer.

For additional information, contact:
Scott Booher
Navient Solutions, LLC
Vice President, Corporate Finance
2001 Edmund Halley Dr.
Reston, VA 20191
Phone: 703-984-6890
Email: Scott.Booher@navient.com