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Loans Held for Investment (Tables) | 6 Months Ended
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Jun. 30, 2017
Receivables [Abstract] |
Loans held for investment | Loans held for investment are summarized as follows:
|  | June 30, |  | December 31,
|  | 2017 |  | 2016
Private Education Loans |  | $ | 15,679,457 |  |  | $ | 14,251,675 |
Deferred origination costs |  | 48,905 |  |  | 44,206 |
Allowance for loan losses |  | (205,024 | ) |  | (182,472 | )
Total Private Education Loans, net |  | 15,523,338 |  |  | 14,113,409 |
FFELP Loans |  | 967,237 |  |  | 1,010,908 |
Unamortized acquisition costs, net |  | 2,767 |  |  | 2,941 |
Allowance for loan losses |  | (1,606 | ) |  | (2,171 | )
Total FFELP Loans, net |  | 968,398 |  |  | 1,011,678 |
Personal Loans |  | 69,508 |  |  | 12,893 |
Allowance for loan losses |  | (818 | ) |  | (58 | )
Total Personal Loans, net |  | 68,690 |  |  | 12,835 |
Loans held for investment, net |  | $ | 16,560,426 |  |  | $ | 15,137,922 |
The average balance and the respective weighted average interest rates of loans in our portfolio are summarized as follows:
|  | Three Months Ended
|  | June 30,
|  | 2017 |  | 2016
|  | Average Balance |  | Weighted Average Interest Rate |  | Average Balance |  | Weighted Average Interest Rate
Private Education Loans |  | $ | 15,687,803 |  |  | 8.33 | % |  | $ | 12,217,890 |  |  | 7.98 | %
FFELP Loans |  | 980,478 |  |  | 3.87 |  |  | 1,076,419 |  |  | 3.48 |
Personal Loans |  | 60,910 |  |  | 9.28 |  |  | — |  |  | — |
Total portfolio |  | $ | 16,729,191 |  |  |  |  | $ | 13,294,309 |  |  |
|  | Six Months Ended
|  | June 30,
|  | 2017 |  | 2016
|  | Average Balance |  | Weighted Average Interest Rate |  | Average Balance |  | Weighted Average Interest Rate
Private Education Loans |  | $ | 15,569,337 |  |  | 8.30 | % |  | $ | 12,017,799 |  |  | 8.00 | %
FFELP Loans |  | 991,740 |  |  | 3.78 |  |  | 1,089,836 |  |  | 3.45 |
Personal Loans |  | 48,894 |  |  | 9.19 |  |  | — |  |  | — |
Total portfolio |  | $ | 16,609,971 |  |  |  |  | $ | 13,107,635 |  |  |

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- References No definition available. + Details
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