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

Tim Goral's picture
Monday, April 15, 2013

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