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US: Sallie Mae reports big quarterly increase in income

Sallie Mae, the saving, planning, and paying for college company, has announced second-quarter 2022 net income of $342 million, up from net income of $140 million reported for Q2 2021.

The Newark, Delaware-based company originated private education loans of $616 million in the second quarter, a 16% increase on Q2 2021.

The company stated: “Our resilient business model and strategy allowed us to continue to perform well in the second quarter despite current macroeconomic pressures.”

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