Thursday, October 11, 2007

Sallie Mae News

Sallie Mae has posted a 13% increase in student loan originations this quarter compared to the 3rd quarter a year ago.

This is the way CEO C.E. Andrews puts it:
“Thanks to our industry-leading brand, our scale and efficiencies, and our focus on students and families, we successfully faced a number of challenges this quarter. We have a solid track record of growing our ‘core earnings’ through various political, interest rate and economic environments, and the fundamentals of our business point to a bright future for our company.”

How nice. All this new business with all of its origination fees should help comfort them in swallowing the $344 million loss they have this quarter due to stock market declines and defending against company acquisition.