Federal Student Loan Programs Data Book

Federal Student Loan Programs Data Book - FY 1997-FY 2000
Part III Dollars Outstanding and Guaranty Agency Characteristics	CONTENTS < BACK NEXT >

Table 45.
Sallie Mae loan purchases and warehousing advances: Calendar years 1973-2000

This table shows Sallie Mae's annual loan purchases and dollars outstanding for calendar years 1973-00, as well as warehousing advances made to lenders. Sallie Mae provides a national secondary market for the Federal Family Education Loan (FFEL) program. Its main functions are to purchase loans and to provide warehousing advances to participating lenders.

Sallie Mae's annual student loan purchases are a substantial portion of FFEL program loans and thus it holds a large proportion of outstanding FFEL program dollars. For example:
- In 1997 and 1998, Sallie Mae's annual student loan purchases represented approximately 40 percent of FFEL loan volume. However, in 1999, Sallie Mae's loan acquisitions jumped 63 percent to $13.7 billion. This increase was due in large part to Sallie Mae's acquisition of the Nellie Mae Corporation and its loan portfolio. As a result, Sallie Mae's student loan purchases accounted for nearly 60 percent of FFEL loan volume in 1999. During 2000, Sallie Mae's loan acquisitions again increased considerably to $20.6 billion, which accounted for 80 percent of FFEL loan volume (see table 1 for FFEL program loan volume).
- Between 1997 and 2000, Sallie Mae's outstanding loan purchases grew from $29.4 billion to $37.6 billion, an increase of 28 percent. Despite this increase, Sallie Mae's outstanding student loan purchases represented consistently about one-quarter of FFEL program dollars outstanding during this time (see table 37 for FFEL dollars outstanding).
Annual and outstanding warehousing advances declined between 1997 and 2000. In 1997, Sallie Mae had $1.9 billion and $2.5 billion in annual and outstanding warehousing advances, respectively. By 2000, annual warehousing advances fell to $1.0 billion, while outstanding warehousing advances decreased to $0.8 billion.

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Calendar year	Annual	Outstanding
Table 45. - Sallie Mae loan purchases and warehousing advances: Calendar years 1973-2000
Student loan purchases¹
($ in 000,000's)
1973-89	$24,259	$72,626
1990	5,973	19,242
1991	6,301	22,068
1992	5,772	24,173
1993	6,675	26,804
1994	7,956	30,370
1995	9,380	34,336
1996	8,371	32,308
1997	9,040	29,443
1998	8,417	28,283
1999	13,680	33,809
2000	20,563	37,647²
Cumulative total	126,387	391,109

Calendar year	Annual	Outstanding
Warehousing advances
($ in 000,000's)
1973-89	$16,116	$53,628
1990	5,612	9,270
1991	3,952	9,395
1992	1,806	8,085
1993	1,813	7,034
1994	3,377	7,032
1995	2,250	3,865
1996	1,392	2,790
1997	1,869	2,518
1998	1,543	1,718
1999	1,043	1,173
2000	987	825
Cumulative total	41,759	107,333
¹Student loan purchases include Stafford Subsidized, Stafford Unsubsidized, Parent Loans for Undergraduate Students (PLUS), Supplemental Loan for Students (SLS), Federal Insured Student Loan Program (FISLP), and Health Education Assistance Loans (HEAL). ² The dollar amounts for calendar years 1997, 1998, 1999, and 2000 represent approximately one-quarter of the FFEL program dollars outstanding. (See FFEL dollars outstanding in table 44.) NOTES: Sallie Mae provides a national secondary market for the FFEL program. Its main function is to purchase loans and provide warehousing advances to participating lenders. Details may not add to totals due to rounding. Data for earlier years appear in table A-45 in appendix I. SOURCE: Sallie Mae Annual Report.

Part III Dollars Outstanding and Guaranty Agency Characteristics	CONTENTS < BACK NEXT >
Federal Student Loan Programs Data Book - FY 1997-FY 2000