Sallie Mae 2010 Annual Report Download - page 137
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4. Allowance for Loan Losses (Continued)
(Dollars in millions) Balance % Balance % Balance %
2010 2009 2008
December 31,
Private Education Traditional Loan Delinquencies
Loans in-school/grace/deferment
(1)
............................... $ 7,419 $ 7,812 $ 8,694
Loans in forbearance
(2)
...................................... 1,156 784 625
Loans in repayment and percentage of each status:
Loans current ........................................... 22,850 91.2% 10,844 90.2% 8,074 92.2%
Loans delinquent 31-60 days
(3)
............................... 794 3.2 437 3.6 302 3.4
Loans delinquent 61-90 days
(3)
............................... 340 1.4 204 1.7 128 1.5
Loans delinquent greater than 90 days
(3)
......................... 1,060 4.2 543 4.5 257 2.9
Total traditional loans in repayment ............................ 25,044 100% 12,028 100% 8,761 100%
Total traditional loans, gross . . ................................. 33,619 20,624 18,080
Traditional loans unamortized discount ............................ (801) (475) (436)
Total traditional loans . ...................................... 32,818 20,149 17,644
Traditional loans receivable for partially charged-off loans . . ............. 558 193 82
Traditional loans allowance for losses . ............................ (1,231) (664) (485)
Traditional loans, net. . ...................................... $32,145 $19,678 $17,241
Percentage of traditional loans in repayment . ....................... 74.5% 58.3% 48.5%
Delinquencies as a percentage of traditional loans in repayment ............ 8.8% 9.8% 7.8%
Loans in forbearance as a percentage of loans in repayment and forbearance . . . 4.4% 6.1% 6.7%
(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 temporarily
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.
F-34
SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)