NEW YORK (TheStreet) -- Shares of SLM Corp. (SLM) - Get Report , known as Sallie Mae, are down 10.17% to $8.70 in morning trading today after the company reported lower fourth quarter earnings yesterday and issued 2015 guidance below analysts' expectations.

Sallie Mae reported net income of $20 million, or three cents a share, down from $60 million, or 14 cents a share, a year ago. Analysts expected five cents, according to Reuters.

Additionally, the company said it expects 2015 full year diluted core earnings between 48 cents and 50 cents a share, below the consensus of 62 cents, according to analysts surveyed by Reuters.

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In a year of "significant change", Sallie Mae achieved the legal separation of Navient Corp.(NAVI) - Get Report , established a market for the sale and securitization of its private education loans and completed the roll out of its own, independent servicing and customer support capabilities, the company said.

Most recently, the company closed a $750 million asset-backed commercial paper facility.

Separately, shares of Navient Corp. are down 2.4% to $19.48 after reporting net income of $263 million, or 64 cents a share, down from $274 million, or 60 cents a share a year earlier. Analysts expected earnings of 54 cents.

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