NAICU - Sallie Mae's Net Income Falls 72%

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Sallie Mae's Net Income Falls 72%

Wall Street Journal

July 23, 2008

Student loan originations fell about 8% to $3.3 billion, amid shifts in the way the company deals with external lending partners and a shift from purchasing to servicing their loans. Sallie Mae in April said it couldn't make profitable loans, prompting the nation's largest student lender to assess its operation and call for a "system-wide liquidity solution." However, the company said its funding and liquidity improved in the second quarter.

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