Sallie Mae 2013 Annual Report Download - page 105

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Allowance for FFELP Loan Losses
The following table summarizes changes in the allowance for FFELP Loan losses.
Years Ended December 31,
(Dollars in millions) 2013 2012 2011
Allowance at beginning of period ................................... $ 159 $ 187 $ 189
Provision for FFELP Loan losses .................................... 52 72 86
Charge-offs ..................................................... (78) (92) (78)
Student loan sales ................................................ (14) (8) (10)
Allowance at end of period ........................................ $ 119 $ 159 $ 187
Charge-offs as a percentage of average loans in repayment ............... .10% .10% .08%
Charge-offs as a percentage of average loans in repayment and
forbearance ................................................... .08% .08% .07%
Allowance as a percentage of the ending total loans, gross ................ .12% .13% .14%
Allowance as a percentage of ending loans in repayment ................. .16% .18% .20%
Allowance coverage of charge-offs .................................. 1.5 1.7 2.4
Ending total loans, gross .......................................... $103,672 $124,335 $136,643
Average loans in repayment ........................................ $ 80,822 $ 91,653 $ 94,359
Ending loans in repayment ......................................... $ 76,504 $ 90,731 $ 94,181
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