Sallie Mae 2012 Annual Report Download - page 144
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SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
4. Allowance for Loan Losses (Continued)
Private Education Traditional Loan
Delinquencies
December 31,
2012 2011 2010
(Dollars in millions) Balance % Balance % Balance %
Loans in-school/grace/deferment(1) ..................... $ 5,421 $ 5,866 $ 7,419
Loans in forbearance(2) .............................. 996 1,195 1,156
Loans in repayment and percentage of each status:
Loans current .................................... 26,597 91.9% 25,110 91.4% 22,850 91.2%
Loans delinquent 31-60 days(3) ...................... 837 2.9 868 3.2 794 3.2
Loans delinquent 61-90 days(3) ...................... 375 1.3 393 1.4 340 1.4
Loans delinquent greater than 90 days(3) ............... 1,121 3.9 1,096 4.0 1,060 4.2
Total traditional loans in repayment .................. 28,930 100% 27,467 100% 25,044 100%
Total traditional loans, gross .......................... 35,347 34,528 33,619
Traditional loans unamortized discount ................. (713) (792) (801)
Total traditional loans ............................... 34,634 33,736 32,818
Traditional loans receivable for partially charged-off
loans .......................................... 797 705 558
Traditional loans allowance for losses .................. (1,637) (1,542) (1,231)
Traditional loans, net ................................ $33,794 $32,899 $32,145
Percentage of traditional loans in repayment ............. 81.9% 80.0% 74.5%
Delinquencies as a percentage of traditional loans in
repayment ...................................... 8.1% 8.6% 8.8%
Loans in forbearance as a percentage of loans in repayment
and forbearance .................................. 3.3% 4.2% 4.4%
(1) Deferment includes customers who have returned to school or are engaged 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 customers 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.
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