DeVry's institutional loan programs are available to students at its DeVry University, Chamberlain College of Nursing, Carrington College and Carrington College of California schools as well as selected students at Ross University School of Medicine. These loan programs are designed to assist students who are unable to completely cover educational costs by other means. These loans may be used for tuition, books, and fees, and are available only after all other student financial assistance has been applied toward those purposes. In addition, Ross University School of Medicine loans may be used for students' living expenses. Repayment plans for institutional loan program balances are developed to address the financial circumstances of the particular student. Interest charges accrue each month on the unpaid balance. After a student leaves school, the student typically will have a monthly installment repayment plan with all balances due within 12 to 60 months. In addition, the Becker CPA Review Course can be financed through Becker with a zero percent, 18-month term loan.

Reserves for uncollectible loans are determined by analyzing the current aging of accounts receivable and historical loss rates of loans at each educational institution. In addition, management considers projections of future receivable levels and collection loss rates. Management performs this analysis periodically throughout the year. Since all of DeVry's financing receivables are generated through the extension of credit to students to fund educational costs, all such receivables are considered part of the same loan portfolio.

The following table details the institutional loan balances along with the related allowances for credit losses as of June 30, 2011 and 2010.

		As of June 30,
		2011		2010
		(Dollars in thousands)

Gross Institutional Student Loans	$	50,025	$	34,491

Allowance for Credit Losses		(20,284)		(16,652)

Net Institutional Student Loans	$	29,741	$	17,839

Of the net balances above, $18.4 million and $9.9 million were classified as Accounts Receivable, Net in the Consolidated Balance Sheets at June 30, 2011 and 2010, respectively, and $11.3 million and $7.9 million, representing amounts due beyond one year, were classified in the Consolidated Balance Sheets as Other Assets at June 30, 2011 and 2010, respectively.

The following tables detail the credit risk profiles of the institutional student loan balances based on payment activity and provide an aging analysis of past due institutional student loans as of June 30, 2011 and 2010. Loans are considered nonperforming if they are more than 120 days past due (dollars in thousands).

			As of June 30,
			2011		2010
Institutional Student Loans:
	Performing	$	37,168	$	24,811
	Nonperforming		12,857		9,680
Total Institutional Student Loans		$	50,025	$	34,491

			30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days Past Due		Total Past Due		Current		Total Institutional Student Loans
Institutional Student Loans:
	June 30, 2011	$	3,405	$	1,705	$	14,301	$	19,411	$	30,614	$	50,025
	June 30, 2010	$	2,531	$	1,754	$	11,017	$	15,302	$	19,189	$	34,491