Sallie Mae, the saving, planning, and paying for college company, has announced second-quarter 2021 net income of $140 million, compared to a net loss of $85 million reported for Q2 2020.
The company reported second-quarter private education loan originations of $533 million, a 7% increase on Q2 2020.
Sallie Mae chief executive Jonathan Witter said: “Our second quarter results are a welcome continuation of the success we had in Q1, and I think they reflect a continuing return to normalcy. We are executing our strategy and delivering strong results. As the world around us continues to reopen, we’re encouraged by the implications for universities and for students as they physically return to campus in the fall.
“I hope you walk away today with three key messages: First, we’ve delivered strong results in the second quarter; second, we’re executing our 2021 capital return programme as expected; and third, we’re well positioned to continue our performance trend this year by executing against our core strategic imperatives.”
Date published: 26 July 2021