NEW YORK (Thomson Financial) - Student Loan Corp. Friday reported
second-quarter earnings fell to $42 million, or $2.10 a share, from $71 million,
or $3.53 a share, a year earlier.
The decrease was primarily driven by a $26 million increase in the provision
for loan losses, largely attributable to increased reserves associated with
losses inherent in the higher-risk, uninsured segment of the private education
loan portfolio, the company said.
Net interest income rose to $119.4 million from $102.9 million a year
earlier.
Student Loan shares closed at $112 on Thursday.
Christie Rizk
cr/pc
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