I personally thought this small earnings miss was somewhat irrelevant when compared with Q2 2011 and the other data that seemed very positive for SLM's future (Especially the 2012 EPS increase from $2.00 to $2.15). However, so many people dumped this stock today that I think it triggered a lot of people's stop's. An 80 cent drop in price in one day tends to do that. Hopefully this thing will settle down quickly. I think this stock just went on sale and will probabley bounce back to where it was yesterday within a week. Maybe less given SLM is held by so many institutions. I guess i'll have to wait and see if this is really what will happen since "the market is always right".