Sallie Mae 2007 Annual Report Download - page 152
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4. Allowance for Loan Losses (Continued)
Balance % Balance % Balance %
2007 2006 2005
December 31,
(Dollars in millions)
Loans in-school/grace/deferment
(1)
........ $ 8,151 $ 5,218 $4,301
Loans in forbearance
(2)
................. 974 359 303
Loans in repayment and percentage of each
status:
Loans current ...................... 6,236 88.5% 4,214 86.9% 3,311 90.4%
Loans delinquent 31-60 days
(3)
......... 306 4.3 250 5.1 166 4.5
Loans delinquent 61-90 days .......... 176 2.5 132 2.7 77 2.1
Loans delinquent greater than 90 days. . . . 329 4.7 255 5.3 108 3.0
Total Private Education Loans in
repayment ...................... 7,047 100% 4,851 100% 3,662 100%
Total Private Education Loans, gross . . . . . . 16,172 10,428 8,266
Private Education Loan unamortized
discount .......................... (468) (365) (305)
Total Private Education Loans ........... 15,704 10,063 7,961
Private Education Loan allowance for
losses............................ (886) (308) (204)
Private Education Loans, net ............ $14,818 $ 9,755 $7,757
Percentage of Private Education Loans in
repayment ........................ 43.6% 46.5% 44.3%
Delinquencies as a percentage of Private
Education Loans in repayment ......... 11.5% 13.1% 9.6%
Loans in forbearance as a percentage of
loans in repayment and forbearance . . . . . 12.1% 6.9% 7.6%
(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 generally during employment transition or who have
temporarily ceased making full payments due to hardship or other factors, consistent with the established loan program servicing
procedures and policies.
(3)
The period of delinquency is based on the number of days scheduled payments are contractually past due.
F-31
SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in thousands, except per share amounts, unless otherwise stated)