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ITT Educational Services Inc. Message Board

  • dell4131 dell4131 Aug 14, 2012 1:33 PM Flag

    Quickly closing in on the 20's

    Love taking Ox's money... the hold ESI forever guy...

    I remeber when SLM went to 4 bucks after Congress
    ditched FFELP and SLM held an ugly portfolio of
    private defaulted loans.. many were ITT career training loans. SLM went from $58 to 4... and ITT... from $130 to ...$2x...????

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    • Comparing SLM to ESI is marginal at best. SLM is a lender. eSI runs an education business. Your claim that SLM got stuck with large amount of bad loans to ESI students is completely unsupported blather. If such is that case, then provide the numbers.

      SLM shares got bulled up to ridiculous levels for a company that was simply a lender. Lone Pine was a huge shareholder and everyone was just copying their long trade. When SLM ended up having problems, it was in 2007. From 2007 to 2011, ESI earning rose from $3.77 per share to $11.22 per share.

      • 3 Replies to oxledge
      • Response>> In 2008 SLM quit funding ITT's College Advantage loan program>>>> Jan. 23, 2008: In a conference call with investors on the company's final 2007 financial results, Sallie Mae officials revealed that their provision for loan losses that year ultimately amounted to about $1 billion, an increase of 242 percent from the previous year. They also announced that they would no longer be making new sub-prime loans to financially needy students at some of the country's largest proprietary schools.....AT THE TIME, ITT WAS SLM's largest customer....

      • IN response to SLM is just a lender..... SLM Corporation, through its subsidiaries, originates, acquires, finances, and service private education loans in the United States. It offers processing capabilities to educational institutions, 529 college-savings plan program management services, and a consumer savings network. The company also provides servicing, loan default aversion, and defaulted loan collection services for loans owned by the Department of Education (ED), Guarantors of FFELP Loans, and other institutions. In addition, SLM Corporation offers campus solutions, which comprise electronic billing, collection, payment and refund, and tuition payment plan administration services. The company promotes its products through the financial aid offices on campuses, as well as through direct marketing to students and their families.

 
ESI
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