Sallie Mae 2008 Annual Report Download - page 72
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(Dollars in millions) Balance % Balance % Balance %
2008 2007 2006
Managed Basis FFELP
Loan Delinquencies
December 31,
Loans in-school/grace/deferment
(1)
.... $ 43,385 $ 36,260 $ 30,563
Loans in forbearance
(2)
............. 15,304 13,625 12,114
Loans in repayment and percentage of
each status:
Loans current .................. 71,252 83.5% 68,831 83.3% 62,319 83.6%
Loans delinquent 31-60 days
(3)
..... 4,925 5.8 4,667 5.7 4,065 5.5
Loans delinquent 61-90 days
(3)
..... 2,548 2.9 2,418 2.9 2,245 3.0
Loans delinquent greater than
90 days
(3)
................... 6,647 7.8 6,670 8.1 5,928 7.9
Total FFELP loans in repayment .... 85,372 100% 82,586 100% 74,557 100%
Total FFELP loans, gross ........... 144,061 132,471 117,234
FFELP loan unamortized premium .... 2,998 2,895 2,304
Total FFELP loans . . . ............. 147,059 135,366 119,538
FFELP loan allowance for losses...... (165) (118) (34)
FFELP loans, net ................. $146,894 $135,248 $119,504
Percentage of FFELP loans in
repayment ..................... 59.3% 62.3% 63.6%
Delinquencies as a percentage of
FFELP loans in repayment ........ 16.5% 16.7% 16.4%
FFELP loans in forbearance as a
percentage of loans in repayment and
forbearance .................... 15.2% 14.2% 14.0%
(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,
as well as, loans for borrowers who have requested extension of grace period during employment transition or who have tempo-
rarily ceased making full payments due to hardship or other factors.
(2)
Loans for borrowers who have used their allowable deferment time or do not qualify for deferment, that need additional time to
obtain employment or who have temporarily ceased making full payments due to hardship or other factors.
(3)
The period of delinquency is based on the number of days scheduled payments are contractually past due.
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