Sallie Mae 2005 Annual Report Download - page 86

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The following table includes on-balance sheet asset information for our Lending business segment.
December 31,
2005 2004 2003
FFELP Stafford and Other Student Loans, net ...... $19,
988 $ 18,965 $ 18,790
Consolidation Loans, net ......................... 54,859 41,596 26,787
Managed Private Education Loans,net............. 7,757 5,420 4,470
Otherloans,net ................................. 1,138 1,048 1,031
Investments(1) ................................... 7,748 8,914 7,741
Residual Interest in off-balance sheet securitized loans 2,406 2,315 2,472
Other(2)......................................... 3,576 4,792 2,600
Total assets ..................................... $ 97,472 $ 83,050 $ 63,891
(1) Investments include cash and cash equivalents, short and long term investments, restricted cash and
investments, leveraged leases, and municipal bonds.
(2) Other assets include accrued interest receivable, goodwill and acquired intangible assets and other
non-interest earning assets.
Preferred Channel Originations
In 2005, we originated $21.4 billion in student loan volume through our Preferred Channel, a
19 percent increase over the $18.0 billion originated in 2004. In 2005, we grew the Sallie Mae brand
Preferred Channel Originations by 57 percent and our own brands now constitute 43 percent of our
Preferred Channel Originations, up from 32 percent in 2004. At the same time, the JPMorgan/Bank One
volume decreased by 15 percent and was 28 percent of our Preferred Channel Originations, down from 38
percent in 2004. The pipeline of loans that we currently service and are committed to purchase was
$6.8 billion and $7.2 billion at December 31, 2005 and 2004, respectively. The following tables further
break down our Preferred Channel Originations by type of loan and source.
Years Ended December 31,
2005 2004 2003
Preferred Channel Originations—Type of Loan
Stafford ...................................... $12,547 $11,383 $ 10,077
PLUS ........................................ 2,570 2,303 1,882
TotalFFELP.................................. 15,117 13,686 11,959
Private ....................................... 6,236 4,307 3,270
Total......................................... $21,353 $17,993 $ 15,229
Preferred Channel Originations—Source
Sallie Mae brands.............................. $ 9,109 $ 5,790 $ 4,233
Lender partners ............................... 12,244 12,203 10,996
Total......................................... $21,353 $17,993 $ 15,229