Sallie Mae 2010 Annual Report Download - page 65
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(Dollars in millions) Balance % Balance % Balance %
2010 2009 2008
December 31,
“Core Earnings” Basis FFELP
Loan Delinquencies
Loans in-school/grace/deferment
(1)
.... $ 28,214 $ 38,391 $ 43,385
Loans in forbearance
(2)
............. 22,028 16,847 15,304
Loans in repayment and percentage of
each status:
Loans current .................. 80,026 82.8% 68,832 82.4% 71,252 83.5%
Loans delinquent 31-60 days
(3)
..... 5,500 5.7 5,054 6.0 4,925 5.8
Loans delinquent 61-90 days
(3)
..... 3,178 3.3 2,644 3.2 2,548 2.9
Loans delinquent greater than
90 days
(3)
................... 7,992 8.2 7,004 8.4 6,647 7.8
Total FFELP Loans in repayment . . . 96,696 100% 83,534 100% 85,372 100%
Total FFELP Loans, gross ........... 146,938 138,772 144,061
FFELP Loan unamortized premium .... 1,900 2,764 2,998
Total FFELP Loans. . . ............. 148,838 141,536 147,059
FFELP Loan allowance for losses ..... (189) (186) (165)
FFELP Loans, net................. $148,649 $141,350 $146,894
Percentage of FFELP Loans in
repayment ..................... 65.8% 60.2% 59.3%
Delinquencies as a percentage of
FFELP Loans in repayment ........ 17.2% 17.6% 16.5%
FFELP Loans in forbearance as a
percentage of loans in repayment and
forbearance .................... 18.6% 16.8% 15.2%
(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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