Sallie Mae 2009 Annual Report Download - page 84

FFELP
Stafford and
Other
(1)
FFELP
Consolidation
Loans
Total
FFELP
Total Private
Education
Loans
Total On-
Balance Sheet
Portfolio
On-Balance Sheet
Year Ended December 31, 2008
Beginning balance . ........................... $35,726 $73,609 $109,335 $14,818 $124,153
Net consolidations:
Incremental consolidations from third parties . . ....... — 462 462 149 611
Consolidations to third parties . . ................. (703) (392) (1,095) (41) (1,136)
Net consolidations . ........................... (703) 70 (633) 108 (525)
Acquisitions ................................ 21,889 1,358 23,247 7,357 30,604
Net acquisitions . . ........................... 21,186 1,428 22,614 7,465 30,079
Internal consolidations
(2)
........................ (409) 529 120 228 348
Off-balance sheet securitizations . . ................. — — — — —
Sales..................................... (522) (26) (548) — (548)
Repayments/claims/other . . ...................... (3,505) (3,796) (7,301) (1,929) (9,230)
Ending balance . . . ........................... $52,476 $71,744 $124,220 $20,582 $144,802
FFELP
Stafford and
Other
(1)
FFELP
Consolidation
Loans
Total
FFELP
Total Private
Education
Loans
Total Off-
Balance Sheet
Portfolio
Off-Balance Sheet
Year Ended December 31, 2008
Beginning balance ............................. $9,472 $16,441 $25,913 $13,510 $39,423
Net consolidations:
Incremental consolidations from third parties .......... — — — — —
Consolidations to third parties ................... (311) (83) (394) (57) (451)
Net consolidations ............................. (311) (83) (394) (57) (451)
Acquisitions . . . .............................. 246 211 457 742 1,199
Net acquisitions .............................. (65) 128 63 685 748
Internal consolidations
(2)
......................... (84) (36) (120) (228) (348)
Off-balance sheet securitizations ................... — — — — —
Sales . . ................................... — — — — —
Repayments/claims/other ........................ (2,180) (1,002) (3,182) (1,050) (4,232)
Ending balance . .............................. $7,143 $15,531 $22,674 $12,917 $35,591
FFELP
Stafford and
Other
(1)
FFELP
Consolidation
Loans
Total
FFELP
Total Private
Education
Loans
Total
Managed Basis
Portfolio
Managed Portfolio
Year Ended December 31, 2008
Beginning balance ........................... $45,198 $90,050 $135,248 $28,328 $163,576
Net consolidations:
Incremental consolidations from third parties ........ — 462 462 149 611
Consolidations to third parties .................. (1,014) (475) (1,489) (98) (1,587)
Net consolidations ........................... (1,014) (13) (1,027) 51 (976)
Acquisitions . . . ............................ 22,135 1,569 23,704 8,099 31,803
Net acquisitions . ............................ 21,121 1,556 22,677 8,150 30,827
Internal consolidations
(2)
....................... (493) 493 — — —
Off-balance sheet securitizations .................. — — — — —
Sales . . . ................................. (522) (26) (548) — (548)
Repayments/claims/other ....................... (5,685) (4,798) (10,483) (2,979) (13,462)
Ending balance
(3)
............................ $59,619 $87,275 $146,894 $33,499 $180,393
Total Managed Acquisitions
(4)
.................... $22,135 $ 2,031 $ 24,166 $ 8,248 $ 32,414
(1)
FFELP category is primarily Stafford Loans but also includes federally guaranteed PLUS and HEAL Loans.
(2)
Represents borrowers consolidating their loans into a new Consolidation Loan. Loans in our off-balance sheet securitization trusts that are consolidated are bought out of the
trusts and moved on-balance sheet.
(3)
As of December 31, 2008, the ending balance includes $13.7 billion of FFELP Stafford and Other Loans and $2.6 billion of FFELP Consolidation Loans disbursed on or after
October 1, 2007, which are impacted by CCRAA legislation.
(4)
The Total Managed Acquisitions line includes incremental consolidations from third parties and acquisitions.
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