Sallie Mae 2007 Annual Report Download - page 78
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(Dollars in millions) Balance % Balance % Balance %
2007 2006 2005
December 31,
Managed Basis FFELP
Loan Delinquencies
Loans in-school/grace/deferment
(1)
.... $ 36,260 $ 30,563 $ 26,544
Loans in forbearance
(2)
............. 13,625 12,114 14,424
Loans in repayment and percentage of
each status:
Loans current .................. 68,831 83.3% 62,319 83.6% 53,238 84.1%
Loans delinquent 31-60 days
(3)
..... 4,667 5.7 4,065 5.5 3,208 5.1
Loans delinquent 61-90 days ....... 2,418 2.9 2,245 3.0 1,939 3.0
Loans delinquent greater than
90 days ..................... 6,670 8.1 5,928 7.9 4,939 7.8
Total FFELP loans in repayment .... 82,586 100% 74,557 100% 63,324 100%
Total FFELP loans, gross ........... 132,471 117,234 104,292
FFELP loan unamortized premium .... 2,895 2,304 1,825
Total FFELP loans . . . ............. 135,366 119,538 106,117
FFELP loan allowance for losses...... (118) (34) (25)
FFELP loans, net ................. $135,248 $119,504 $106,092
Percentage of FFELP loans in
repayment ..................... 62.3% 63.6% 60.7%
Delinquencies as a percentage of
FFELP loans in repayment ........ 16.7% 16.4% 15.9%
FFELP loans in forbearance as a
percentage of loans in repayment and
forbearance .................... 14.2% 14.0% 18.6%
(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 tempo-
rarily ceased making full payments due to hardship or other factors, consistent with the established loan program servicing pro-
cedures and policies.
(3)
The period of delinquency is based on the number of days scheduled payments are contractually past due.
Total Provisions for Loan Losses
The following tables summarize the total loan provisions on both an on-balance sheet and on a Managed
Basis for the years ended December 31, 2007, 2006 and 2005.
Total on-balance sheet loan provisions
2007 2006 2005
Years Ended
December 31,
Private Education Loans ...................................... $ 884 $258 $177
FFELP Stafford and Other Student Loans ......................... 89 14 11
Mortgage and consumer loans .................................. 42 15 15
Total on-balance sheet provisions for loan losses .................... $1,015 $287 $203
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