Sallie Mae 2010 Annual Report Download - page 69
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(Dollars in millions) Balance % Balance % Balance %
December 31,
2010
December 31,
2009
December 31,
2008
‘‘Core Earnings” Basis Private Education
Loan Delinquencies
Loans in-school/grace/deferment
(1)
....... $ 8,340 $11,456 $13,620
Loans in forbearance
(2)
................ 1,340 1,420 1,562
Loans in repayment and percentage of each
status:
Loans current ..................... 24,888 89.4% 21,408 87.9% 18,591 89.8%
Loans delinquent 31-60 days
(3)
........ 1,011 3.6 979 4.0 866 4.2
Loans delinquent 61-90 days
(3)
........ 471 1.7 491 2.0 417 2.0
Loans delinquent greater than
90 days
(3)
...................... 1,482 5.3 1,488 6.1 838 4.0
Total Private Education Loans in
repayment...................... 27,852 100% 24,366 100% 20,712 100%
Total Private Education Loans, gross...... 37,532 37,242 35,894
Private Education Loan unamortized
discount ......................... (894) (908) (896)
Total Private Education Loans .......... 36,638 36,334 34,998
Private Education Loan receivable for
partially charged-off loans ........... 1,039 728 314
Private Education Loan allowance for
losses ........................... (2,021) (1,967) (1,813)
Private Education Loans, net ........... $35,656 $35,095 $33,499
Percentage of Private Education Loans in
repayment ....................... 74.2% 65.4% 57.7%
Delinquencies as a percentage of Private
Education Loans in repayment ........ 10.6% 12.1% 10.2%
Loans in forbearance as a percentage of
loans in repayment and forbearance .... 4.6% 5.5% 7.0%
(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 tempo-
rarily 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.
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