Sallie Mae 2012 Annual Report Download - page 73
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receiving an in-school grace or deferment, and 20 percent have defaulted. The default experience associated with
loans which utilize forbearance is considered in our allowance for loan losses. The number of loans in a
forbearance status as a percentage of loans in repayment and forbearance decreased to 3.5 percent in 2012
compared with 4.4 percent in 2011. As of December 31, 2012, 2.3 percent of loans in current status were
delinquent as of the end of the prior month, but were granted a forbearance that made them current as of
December 31, 2012 (customers made payments on approximately 34 percent of these loans as a prerequisite to
being granted forbearance).
Tracking by First Time in Forbearance Compared to All Loans Entering Repayment —
Portfolio data through December 31, 2012
Status distribution
36 months after
being granted
forbearance
for the first time
Status distribution
36 months after
entering repayment
(all loans)
Status distribution
36 months after
entering repayment for
loans never entering
forbearance
In-school/grace/deferment .......... 9.7% 9.1% 5.6%
Current .......................... 50.5 59.0 66.7
Delinquent 31-60 days ............. 3.1 2.0 .4
Delinquent 61-90 days ............. 1.9 1.1 .2
Delinquent greater than 90 days ...... 4.7 2.7 .3
Forbearance ...................... 4.1 3.1 —
Defaulted ........................ 20.0 11.4 7.2
Paid ............................ 6.0 11.6 19.6
Total ........................... 100% 100% 100%
The tables below show the composition and status of the Private Education Loan portfolio aged by number
of months in active repayment status (months for which a scheduled monthly payment was due). As indicated in
the tables, the percentage of loans in forbearance status decreases the longer the loans have been in active
repayment status. At December 31, 2012, loans in forbearance status as a percentage of loans in repayment and
forbearance were 5.9 percent for loans that have been in active repayment status for less than 25 months. The
percentage drops to 1.3 percent for loans that have been in active repayment status for more than 48 months.
Approximately 70 percent of our Private Education Loans in forbearance status has been in active repayment
status less than 25 months.
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