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Table 38. Sallie Mae loan purchases and warehousing advances: Calendar years 1986-96

• Sallie Mae annual student loan purchases are a substantial proportion of FFEL program loans and thus Sallie Mae holds a large proportion of outstanding FFEL program dollars. Between 1994 and 1996, annual Sallie Mae student loan purchases represented approximately one-third of the FFEL program dollar amount. (See table 1 for FFEL program loan volume.)

• The amount of Sallie Mae annual student loan purchases increased each year between 1986-91. In 1992, student loan purchases decreased by 8.4 percent and then increased annually (15.6, 19.2, and 17.9 percent, respectively) until 1995. Between 1995 and 1996, student loan purchases decreased 10.8 percent, dropping from $9.4 billion to $8.4 billion.

• Annual warehousing advances reached their highest level in 1990 ($5.6 billion) then fluctuated, reaching the lowest level in 1996 ($1.4 billion). These annual warehousing advances directly affected the outstanding warehousing advances which were at their highest level in 1991 ($9.4 billion) and at their lowest level in 1996 ($2.8 billion).

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Table 37

Table 39