The estimated weighted average life of education loans in our portfolio was approximately 7 years at both December 31, 2017 and 2016. The following table reflects the distribution of our education loan portfolio by program.

	December 31, 2017					Year Ended December 31, 2017
(Dollars in millions)	Ending Balance		% of Balance			Average Balance		Average Effective Interest Rate
FFELP Stafford and Other Education Loans, net⁽¹⁾	$	28,409		27	%	$	30,462		2.94	%
FFELP Consolidation Loans, net		53,294		51			54,527		3.30
Private Education Loans, net		23,419		22			23,762		6.88
Total education loans, net	$	105,122		100	%	$	108,751		3.98	%

	December 31, 2016					Year Ended December 31, 2016
(Dollars in millions)	Ending Balance		% of Balance			Average Balance		Average Effective Interest Rate
FFELP Stafford and Other Education Loans, net⁽¹⁾	$	32,319		29	%	$	34,710		2.31	%
FFELP Consolidation Loans, net		55,411		50			57,787		2.98
Private Education Loans, net		23,340		21			25,361		6.26
Total education loans, net	$	111,070		100	%	$	117,858		3.49	%

⁽¹⁾	Primarily Stafford Loans, but also includes federally guaranteed PLUS and HEAL Loans.