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v3.20.4

Subsequent Events (Details) - USD ($) |  |  |  |  |  | 1 Months Ended | 3 Months Ended | 12 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Feb. 09, 2021 | Feb. 02, 2021 | Jan. 28, 2021 | Jan. 08, 2021 | Mar. 10, 2020 | Mar. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Feb. 17, 2021 | Feb. 19, 2020 | Jan. 22, 2020 | Feb. 20, 2019
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net proceeds from sales of loans held for investment, principal |  |  |  |  |  |  | $ 2,900,000,000 |  |  |  |  |  |  |
Net proceeds from sales of loans held for investment, capitalized interest |  |  |  |  |  |  | 199,000,000 |  |  |  |  |  |  |
Net proceeds from sales of loans held for investment, accrued interest |  |  |  |  |  |  | $ 12,000,000 |  |  |  |  |  |  |
Vertical risk retention interest |  |  |  |  |  | 500.00% |  | 5.00% |  |  |  |  |  |
Common stock repurchased (in shares) |  |  |  |  | 44,900,000 |  |  | 47,736,847 | 16,962,199 | 0 |  |  |  |
Repurchase amount (in dollars per share) |  |  |  |  |  |  |  | $ 75,000,000 |  |  |  |  |  |
Common stock, par value (in dollars per share) |  |  |  |  |  |  |  | $ 0.20 | $ 0.20 |  |  |  |  |
Commercial Paper | ABCP borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private education loan funding |  |  |  |  |  |  |  |  |  |  |  | $ 2,000,000,000 |  | $ 750,000,000
Common Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock, par value (in dollars per share) |  |  |  |  |  |  |  | $ 0.20 |  |  |  |  |  |
2020 Share Repurchase Program |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aggregate purchase price (not to exceed) |  |  |  |  |  |  |  |  |  |  |  |  | $ 600,000,000 |
2020 Share Repurchase Program | Common Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock repurchased (in shares) |  |  |  |  | 44,900,000 |  |  |  |  |  |  |  |  |
Student Loan |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private education loans sold |  |  |  |  |  | $ 1,700,000,000 |  |  |  |  |  |  |  |
Subsequent Event |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net proceeds from sales of loans held for investment, principal |  |  |  | $ 2,800,000,000 |  |  |  |  |  |  |  |  |  |
Net proceeds from sales of loans held for investment, capitalized interest |  |  |  | 185,000,000 |  |  |  |  |  |  |  |  |  |
Net proceeds from sales of loans held for investment, accrued interest |  |  |  | 15,000,000 |  |  |  |  |  |  |  |  |  |
Vertical risk retention interest | 5.00% |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event | Commercial Paper | ABCP borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private education loan funding |  |  |  |  |  |  |  |  |  |  | $ 2,000,000,000 |  |  |
Subsequent Event | 2020 Share Repurchase Program | Common Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additional shares repurchased |  |  | 13,000,000 |  |  |  |  |  |  |  |  |  |  |
Common stock repurchased (in shares) |  |  | 58,000,000 |  |  |  |  |  |  |  |  |  |  |
Repurchase amount (in dollars per share) |  |  | $ 9.01 |  |  |  |  |  |  |  |  |  |  |
Subsequent Event | Tender Offer | Common Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aggregate purchase price (not to exceed) |  | $ 1,000,000,000 |  |  |  |  |  |  |  |  |  |  |  |
Common stock, par value (in dollars per share) |  | $ 0.20 |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event | Tender Offer | Common Stock | Maximum |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repurchase amount (in dollars per share) |  | $ 15.00 |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event | Tender Offer | Common Stock | Minimum |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repurchase amount (in dollars per share) |  | $ 13.10 |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event | Student Loan |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private education loans sold | $ 2,500,000,000 |  |  | $ 3,000,000,000 |  |  |  |  |  |  |  |  |  |
Additional net proceeds from sales of loans held for investment, capitalized interest | $ 130,000,000 |  |  |  |  |  |  |  |  |  |  |  |  |

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