Sallie Mae Sells Residual Interest in a Federally Guaranteed Student Loan Trust

Tim Goral's picture

Sallie Mae, formally SLM Corporation, today announced the sale of the residual interest in its SLM Student Loan Trust 2006-2 securitization to a third party.

Sallie Mae will continue to service the student loans in the trust under existing agreements. The transaction reduced student loan assets by $2.03 billion and related liabilities by $1.99 billion.

The gain from the transaction will add approximately $.13 to Sallie Mae’s second-quarter 2013 GAAP and core diluted earnings per share.

Sallie Mae