Sallie Mae reported a $0.19 diluted loss per common share for the third quarter as private education loan originations rose 15% from a year earlier to $3.4 billion.
The company’s Oct. 22 earnings release reported generally accepted accounting principles (GAAP) results for the quarter ended Sept. 30. Net interest income was $339 million, while total non-interest income was $36 million. Together, the rounded figures amount to about $375 million.
Sallie Mae said higher provisions and expenses associated with loan growth were the main contributors to the loss.
