India, Oct. 22 -- Sallie Mae (SLM) on Thursday reported a third-quarter net loss of $36 million, or $0.19 per share, compared with net income of $132 million, or $0.63 per share, in the year-ago quarter.
Private education loan originations rose 15% year over year to a record $3.4 billion. Graduate loan originations increased 119% from the prior-year quarter.
Net interest income declined to $339 million from $373 million a year earlier, while provisions for credit losses increased to $214 million from $179 million. Total non-interest expenses rose to $221 million from $180 million, primarily reflecting higher marketing expenses during the first academic peak season following PLUS reform.
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