SLM (SLM) reported Q2 earnings late Thursday of $0.29 per diluted share, down from $0.32 a year earlier.

Revenue for the three months ended June 30, expressed as the sum of net interest income and total noninterest income, was $401.1 million, down from $403.6 million a year earlier.

Analysts expected $409.2 million in a FactSet poll.