Sallie Mae 2010 Annual Report Download - page 64
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(Dollars in millions) Balance % Balance %
2009 2008
December 31,
Off-Balance Sheet FFELP
Loan Delinquencies
(4)
Loans in-school/grace/deferment
(1)
...................... $ 3,312 $ 4,115
Loans in forbearance
(2)
.............................. 2,726 2,821
Loans in repayment and percentage of each status:
Loans current ................................... 11,304 82.5% 12,441 81.9%
Loans delinquent 31-60 days
(3)
....................... 804 5.9 881 5.8
Loans delinquent 61-90 days
(3)
....................... 439 3.2 484 3.2
Loans delinquent greater than 90 days
(3)
................ 1,160 8.4 1,392 9.1
Total FFELP Loans in repayment ..................... 13,707 100% 15,198 100%
Total FFELP Loans, gross ............................ 19,745 22,134
FFELP Loan unamortized premium ..................... 577 567
Total FFELP Loans ................................. 20,322 22,701
FFELP Loan allowance for losses ...................... (25) (27)
FFELP Loans, net .................................. $20,297 $22,674
Percentage of FFELP Loans in repayment ................ 69.4% 68.7%
Delinquencies as a percentage of FFELP Loans in repayment . . 17.5% 18.1%
FFELP Loans in forbearance as a percentage of loans in
repayment and forbearance ......................... 16.6% 15.7%
(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,
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.
(4) On January 1, 2010, upon the adoption of the new consolidation accounting guidance, all off-balance sheet loans are included in
GAAP-basis.
63