Sallie Mae 2008 Annual Report Download - page 78
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approximately 49 percent of the decline in Lender Partner originations from the year ended December 31,
2007 have converted to third-party servicing arrangements in which we service loans on behalf of these
parties.
Consistent with our announcement in the first quarter that we were tightening our private credit lending
standards and ceasing non-traditional lending, Private Education Loan originations declined 20 percent to
$6.3 billion in the year ended December 31, 2008.
At December 31, 2008, the Company was committed to purchase $2.3 billion of loans originated by our
lender partners ($1.6 billion of FFELP loans and $.7 billion of Private Education Loans). Approximately
$.8 billion of these FFELP loans were originated prior to CCRAA. Approximately $.5 billion of these FFELP
loans are eligible for ED’s Purchase and Participation Programs (see “LIQUIDITY AND CAPITAL
RESOURCES — ED Funding Programs”).
The following tables summarize our loan originations by type of loan and source.
December 31,
2008
December 31,
2007
December 31,
2006
Years Ended
Loan Originations — Internal lending brands
Stafford..................................... $11,593 $ 7,404 $ 5,398
PLUS ...................................... 1,437 1,439 1,349
GradPLUS .................................. 801 498 192
Total FFELP ................................. 13,831 9,341 6,939
Private Education Loans ........................ 5,791 7,267 6,129
Total ....................................... $19,622 $16,608 $13,068
December 31,
2008
December 31,
2007
December 31,
2006
Years Ended
Loan Originations — Lender Partners
Stafford..................................... $3,652 $6,963 $ 7,786
PLUS ...................................... 362 855 1,191
GradPLUS .................................. 62 103 54
Total FFELP ................................. 4,076 7,921 9,031
Private Education Loans ........................ 545 648 1,282
Total ....................................... $4,621 $8,569 $10,313
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