Sallie Mae 2009 Annual Report Download - page 76
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(Dollars in millions) Balance % Balance % Balance %
2009 2008 2007
December 31,
Managed Basis FFELP
Loan Delinquencies
Loans in-school/grace/deferment
(1)
.... $ 38,391 $ 43,385 $ 36,260
Loans in forbearance
(2)
............. 16,847 15,304 13,625
Loans in repayment and percentage of
each status:
Loans current .................. 68,832 82.4% 71,252 83.5% 68,831 83.3%
Loans delinquent 31-60 days
(3)
..... 5,054 6.0 4,925 5.8 4,667 5.7
Loans delinquent 61-90 days
(3)
..... 2,644 3.2 2,548 2.9 2,418 2.9
Loans delinquent greater than
90 days
(3)
................... 7,004 8.4 6,647 7.8 6,670 8.1
Total FFELP loans in repayment .... 83,534 100% 85,372 100% 82,586 100%
Total FFELP loans, gross ........... 138,772 144,061 132,471
FFELP loan unamortized premium .... 2,764 2,998 2,895
Total FFELP loans . . . ............. 141,536 147,059 135,366
FFELP loan allowance for losses...... (186) (165) (118)
FFELP loans, net ................. $141,350 $146,894 $135,248
Percentage of FFELP loans in
repayment ..................... 60.2% 59.3% 62.3%
Delinquencies as a percentage of
FFELP loans in repayment ........ 17.6% 16.5% 16.7%
FFELP loans in forbearance as a
percentage of loans in repayment and
forbearance .................... 16.8% 15.2% 14.2%
(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,
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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