Sallie Mae 2015 Annual Report Download - page 11

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9
• These increases in federal lending for higher education had a significant impact on the market for Private Education
Loans. Annual originations of Private Education Loans peaked at $21.1 billion in AY 2007-2008 and declined to $6.0
billion in AY 2010-2011. Contributing to the decline in Private Education Loan originations was a significant
tightening of underwriting standards by Private Education Loan providers, including Sallie Mae. Private Education
Loan originations increased to an estimated $9.0 billion in AY 2014-2015, up 7.0 percent over the previous year.6
_______
6 Source: The College Board-Trends in Student Aid 2015. © 2015 The College Board. www.collegeboard.org. Funding
sources in current dollars and includes Federal Grants, Federal Loans, Education Tax Benefits, Work Study, State,
Institutional and Private Grants and Non-Federal Loans. Other sources for the size of the Private Education Loan
market exist and may cite the size of the market differently. We believe the College Board source (a) includes Private
Education Loans made by major financial institutions in the Private Education Loan market, with an unknown
adjustment for Private Education Loans made by smaller lenders such as credit unions, and (b) may include
consolidation loans made by the major financial institutions. The College Board restates its data annually, which may
cause previously reported results to vary.