Sallie Mae 2005 Annual Report Download - page 79

Download and view the complete annual report

Please find page 79 of the 2005 Sallie Mae annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 214

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214

69
Off-Balance Sheet Private Education Loan Delinquencies
December 31, 2005 December 31, 2004 December 31, 2003
Balance % Balance % Balance %
Loans in-school/grace/deferment(1).......... $3,679 $ 2,622 $ 1,858
Loans in forbearance(2) ................... 614 334 255
Loans in repayment and percentage of each
status:
Loans current......................... 4,446 95.6% 3,191 95.2 % 1,796 96.0%
Loans delinquent 31-60 days(3) ........... 136 2.9 84 2.5 39 2.1
Loans delinquent 61-90 days............. 35 .7 28 .8 15 .8
Loans delinquent greater than 90 days .... 36 .8 49 1.5 20 1.1
Total Private Education Loans in
repayment.......................... 4,653 100% 3,352 100 % 1,870 100%
Total Private Education Loans, gross........ 8,946 6,308 3,983
Private Education Loan unamortized discount (188) (103) (55 )
Total Private Education Loans ............. 8,758 6,205 3,928
Private Education Loan allowance for losses . (78) (143) (93 )
Private Education Loans, net .............. $8,680 $ 6,062 $ 3,835
Percentage of Private Education Loans in
repayment ............................ 52.0% 53.1% 46.9 %
Delinquencies as a percentage of Private
Education Loans in repayment........... 4.4% 4.8% 4.0 %
Managed Basis Private Education Loan Delinquencies
December 31, 2005 December 31, 2004 December 31, 2003
Balance % Balance % Balance %
Loans in-school/grace/deferment(1)............. $ 7,980 $ 5,409 $3,828
Loans in forbearance(2) ...................... 917 500 491
Loans in repayment and percentage of each
status:
Loanscurrent............................ 7,757 93.3% 5,746 92.8% 4,064 91.9%
Loans delinquent 31-60 days(3) .............. 302 3.6 208 3.3 154 3.5
Loans delinquent 61-90 days ................ 112 1.4 84 1.4 77 1.7
Loans delinquent greater than 90 days........ 144 1.7 156 2.5 126 2.9
Total Private Education Loans in repayment . . 8,315 100% 6,194 100 % 4,421 100%
Total Private Education Loans, gross........... 17,212 12,103 8,740
Private Education Loan unamortized discount . . . (493) (306) (176 )
Total Private Education Loans ................ 16,719 11,797 8,564
Private Education Loan allowance for losses .... (282) (315) (259 )
Private Education Loans, net ................. $16,437 $11,482 $8,305
Percentage of Private Education Loans in
repayment ............................... 48.3% 51.2% 50.6 %
Delinquencies as a percentage of Private
Education Loans in repayment.............. 6.7% 7.2% 8.1 %
(1) Loans for borrowers who still may be attending school or engaging in other permitted educational activities and are not yet
required to make payments on the loans, e.g., residency periods for medical students or a grace period for bar exam
preparation.
(2) Loans for borrowers who have requested extension of grace period during employment transition or who have temporarily
ceased making full payments due to hardship or other factors, consistent with the established loan program servicing policies
and procedures.
(3) The period of delinquency is based on the number of days scheduled payments are contractually past due.