Sallie Mae (SLM) Sells $3.8 billion in Student Loan Assets
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Sallie Mae (NASDAQ: SLM), formally SLM Corporation, today announced that it has sold the residual interest in its SLM Student Loan Trust 2007-4 securitization to a third party. Sallie Mae will continue to service the student loans in the trust under existing agreements. The sale will remove student loan assets of $3.8 billion and related liabilities of $3.7 billion from Sallie Mae’s balance sheet. The gain from the transaction will add $.08 to Sallie Mae’s 2013 GAAP and core earnings per share.
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