Sallie Mae 2013 Annual Report Download - page 96
Download and view the complete annual report
Please find page 96 of the 2013 Sallie Mae annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86 -
87 -
88 -
89 -
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
 |
 |
Allowance for Private Education Loan Losses
The following table summarizes changes in the allowance for Private Education Loan losses.
Years Ended December 31,
(Dollars in millions) 2013 2012 2011
Allowance at beginning of period ...................................... $ 2,171 $ 2,171 $ 2,022
Provision for Private Education Loan losses .............................. 787 1,008 1,179
Charge-offs(1) ...................................................... (878) (1,037) (1,072)
Reclassification of interest reserve(2) .................................... 17 29 42
Allowance at end of period ........................................... $ 2,097 $ 2,171 $ 2,171
Charge-offs as a percentage of average loans in repayment .................. 2.8% 3.4% 3.7%
Charge-offs as a percentage of average loans in repayment and forbearance ..... 2.7% 3.2% 3.6%
Allowance as a percentage of the ending total loans ........................ 5.2% 5.4% 5.5%
Allowance as a percentage of ending loans in repayment .................... 6.7% 6.9% 7.2%
Average coverage of charge-offs ....................................... 2.4 2.1 2.0
Ending total loans(3) ................................................. $40,313 $39,901 $39,334
Average loans in repayment ........................................... $31,556 $30,750 $28,790
Ending loans in repayment ............................................ $31,370 $31,514 $30,185
(1) Charge-offs are reported net of expected recoveries. The expected recovery amount is transferred to the receivable for partially charged-
off loan balance. Charge-offs include charge-offs against the receivable for partially charged-off loans which represents the difference
between what was expected to be collected and any shortfalls in what was actually collected in the period. See the section titled
“Receivable for Partially Charged-Off Private Education Loans” for further discussion.
(2) Represents the additional allowance related to the amount of uncollectible interest reserved within interest income that is transferred in the
period to the allowance for loan losses when interest is capitalized to a loan’s principal balance.
(3) Ending total loans represents gross Private Education Loans, plus the receivable for partially charged-off loans.
94