"Shares of student lender SLM Corp. jumped Thursday after the company said it expects third-quarter earnings to beat Wall Street expectations and that it is well-capitalized," the Associated Press reports. "Lord said 82 percent of Sallie Mae loans are government guaranteed and that the Department of Education is providing financing for 4 million loans totaling $20 billion this academic year. Sallie Mae is well-capitalized with $11 billion in liquidity, $10 billion in unencumbered Federal Family Education Loan program loans and $28 billion in asset-backed commercial loans, which could be extended, Lord said."
You can read the complete October 2, 2008 Associated Press article on-line.
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