RESTON, Va. – Student loan giant Sallie Mae on Wednesday said losses for its third quarter declined to $47 million – caused by a $371 million unrealized loss on its financial derivatives – from a $495 million loss for the same period last year.
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Core earnings for the quarter were $188 million, compared with $202 million for the third quarter of 2010.
For the first nine months of the year, Sallie Mae reported net income of $122 million, up from an $83 million net for the same period last year.
