Sallie Mae 2014 Annual Report Download - page 115

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SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, unless otherwise noted)
6.
Allowance for Loan Losses (Continued)
The following tables provide information regarding the loan status and aging of past due loans. Loans in repayment
includes in-school loans making interest only and fixed payments as well as loans that have entered full principal and interest
repayment status after any applicable grace period.
Private Education Loan Delinquencies
December 31,
2014
2013
2012
Balance
%
Balance
%
Balance
%
Loans in-school/grace/deferment
(1)
......................
$
3,027,143
$
2,574,711
$
1,748,757
Loans in forbearance
(2)
.......................................
135,018
16,314
8,928
Loans in repayment and percentage of each
status:
Loans current ................................................
5,045,600
98.0
%
3,933,143
99.0
%
3,705,634
98.8
%
Loans delinquent 31-60 days
(3)
........................
63,873
1.2
28,854
0.7
33,412
0.9
Loans delinquent 61-90 days
(3)
........................
29,041
0.6
10,280
0.3
10,483
0.3
Loans delinquent greater than 90 days
(3)
...........
10,701
0.2
40
—
694
—
Total Private Education Loans in repayment ......
5,149,215
100.0
%
3,972,317
100.0
%
3,750,223
100.0
%
Total Private Education Loans, gross ...................
8,311,376
6,563,342
5,507,908
Private Education Loans deferred origination
costs .................................................................
13,845
5,063
5,009
Total Private Education Loans ............................
8,325,221
6,568,405
5,512,917
Private Education Loans allowance for losses .......
(78,574
)
(61,763
)
(65,218
)
Private Education Loans, net...............................
$
8,246,647
$
6,506,642
$
5,447,699
Percentage of Private Education Loans in
repayment .........................................................
62.0
%
60.5
%
68.1
%
Delinquencies as a percentage of Private
Education Loans in repayment ............................
2.0
%
1.0
%
1.2
%
Loans in forbearance as a percentage of loans in
repayment and forbearance .................................
2.6
%
0.4
%
0.2
%
(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.
F-31