Sallie Mae 2012 Annual Report Download - page 64

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Student Loan Activity
Year Ended December 31, 2012
(Dollars in millions)
FFELP
Stafford and
Other
FFELP
Consolidation
Loans
Total
FFELP
Loans
Private
Education
Loans
Total
Portfolio
Beginning balance ........................ $50,440 $87,690 $138,130 $36,290 $174,420
Acquisitions and originations ................ 2,764 903 3,667 3,386 7,053
Capitalized interest and premium/discount
amortization ........................... 1,373 1,443 2,816 1,029 3,845
Consolidations to third parties ............... (5,049) (2,803) (7,852) (73) (7,925)
Sales ................................... (530) — (530) — (530)
Repayments and other ..................... (4,709) (5,910) (10,619) (3,698) (14,317)
Ending balance ........................... $44,289 $81,323 $125,612 $36,934 $162,546
Year Ended December 31, 2011
(Dollars in millions)
FFELP
Stafford and
Other
FFELP
Consolidation
Loans
Total
FFELP
Loans
Private
Education
Loans
Total
Portfolio
Beginning balance ........................ $56,252 $92,397 $148,649 $35,656 $184,305
Acquisitions and originations ................ 814 802 1,616 2,942 4,558
Capitalized interest and premium/discount
amortization ........................... 1,506 1,535 3,041 1,269 4,310
Consolidations to third parties ............... (2,741) (1,058) (3,799) (69) (3,868)
Sales ................................... (754) — (754) — (754)
Repayments and other ..................... (4,637) (5,986) (10,623) (3,508) (14,131)
Ending balance ........................... $50,440 $87,690 $138,130 $36,290 $174,420
Year Ended December 31, 2010
(Dollars in millions)
FFELP
Stafford and
Other
FFELP
Consolidation
Loans
Total
FFELP
Loans
Private
Education
Loans
Total
Portfolio
Beginning balance ........................ $52,675 $68,379 $121,054 $22,753 $143,807
Consolidation of off-balance sheet loans(1) ..... 5,500 14,797 20,297 12,341 32,638
Beginning balance — total portfolio .......... 58,175 83,176 141,351 35,094 176,445
Acquisitions and originations ................ 14,349 76 14,425 2,434 16,859
Capitalized interest and premium/discount
amortization ........................... 1,324 1,357 2,681 1,462 4,143
Consolidations to third parties ............... (2,092) (793) (2,885) (46) (2,931)
Loan acquisition on December 31, 2010 ....... 11,237 13,652 24,889 — 24,889
Sales ................................... (21,054) (71) (21,125) — (21,125)
Repayments and other ..................... (5,687) (5,000) (10,687) (3,288) (13,975)
Ending balance ........................... $56,252 $92,397 $148,649 $35,656 $184,305
(1) On January 1, 2010, upon adoption of the new consolidation accounting guidance, all off-balance sheet loans are included in the GAAP-
basis.
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