Sallie Mae 2009 Annual Report Download - page 67

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Balance % Balance % Balance %
December 31,
2009
December 31,
2008
December 31,
2007
Off-Balance Sheet Private Education
Loan Delinquencies
Loans in-school/grace/deferment
(1)
....... $ 2,546 $ 3,461 $ 4,963
Loans in forbearance
(2)
................ 453 700 1,417
Loans in repayment and percentage of each
status:
Loans current ..................... 8,987 90.0% 8,843 92.8% 7,403 94.7%
Loans delinquent 31-60 days
(3)
........ 332 3.3 315 3.3 202 2.6
Loans delinquent 61-90 days
(3)
........ 151 1.5 121 1.3 84 1.1
Loans delinquent greater than
90 days
(3)
...................... 517 5.2 251 2.6 130 1.6
Total Private Education Loans in
repayment...................... 9,987 100% 9,530 100% 7,819 100%
Total Private Education Loans, gross...... 12,986 13,691 14,199
Private Education Loan unamortized
discount ......................... (349) (361) (355)
Total Private Education Loans .......... 12,637 13,330 13,844
Private Education Loan receivable for
partially charged-off loans ........... 229 92 28
Private Education Loan allowance for
losses ........................... (524) (505) (362)
Private Education Loans, net ........... $12,342 $12,917 $13,510
Percentage of Private Education Loans in
repayment ....................... 76.9% 69.6% 55.1%
Delinquencies as a percentage of Private
Education Loans in repayment ........ 10.0% 7.2% 5.3%
Loans in forbearance as a percentage of
loans in repayment and forbearance .... 4.3% 6.8% 15.3%
(1)
Loans for borrowers who may still 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 established loan program servicing policies
and procedures.
(3)
The period of delinquency is based on the number of days scheduled payments are contractually past due.
66