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Parent Only Statements - Statements of Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 880,690 $ 578,276 $ 487,476
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Reduction of tax indemnification receivable 9,066 11,649 92,815
Amortization of unsecured debt upfront fees 2,976 1,117 1,128
Gain on sale of Upromise subsidiary, net 11,331 0 0
Decrease in tax indemnification receivable 0 0 35,989
Increase in other assets (50,454) (3,091) (64,777)
Decrease in income taxes payable, net (45,611) (30,191) (79,693)
Increase (decrease) in other liabilities 80,785 5,386 15,204
Total adjustments (1,063,359) (593,917) (590,217)
Total net cash used in operating activities (182,669) (15,641) (102,741)
Cash flows from investing activities:      
Proceeds from the sale of Upromise subsidiary, net 16,922 0 0
Total net cash provided by (used in) investing activities 947,330 (2,306,714) (3,254,863)
Cash flows from financing activities:      
Unsecured debt issued 495,000 0 0
Repurchase of Series B Preferred Stock (68,055) 0 0
Common stock dividends paid (46,351) (51,114) 0
Common stock repurchased (558,167) (167,201) 0
Net cash (used in) provided by financing activities (1,875,712) 5,361,220 4,403,324
Cash and cash equivalents at beginning of year 5,563,877 2,559,106  
Cash and cash equivalents at end of year 4,455,292 5,563,877 2,559,106
Parent Company      
Cash flows from operating activities:      
Net income 880,690 578,276 487,476
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Undistributed earnings of subsidiaries (939,024) (611,692) (532,741)
Dividends received from Sallie Mae Bank 579,400 254,000 0
Reduction of tax indemnification receivable 9,066 11,649 92,815
Amortization of unsecured debt upfront fees 1,029 811 809
Gain on sale of Upromise subsidiary, net (11,331) 0 0
Decrease in investment in subsidiaries, net 53,698 2,611 9,495
Decrease in tax indemnification receivable 0 0 35,989
(Increase) decrease in due from subsidiaries, net (4,813) 6,254 (11,277)
Increase in other assets (10,504) (12,999) (18,040)
Decrease in income taxes payable, net (13,292) (25,814) (123,083)
Decrease in payable due to entity that is a subsidiary of Navient (533) (416) (1,089)
Increase (decrease) in other liabilities 12,874 (5,796) 6,807
Total adjustments (323,430) (381,392) (540,315)
Total net cash used in operating activities 557,260 196,884 (52,839)
Cash flows from investing activities:      
Proceeds from the sale of Upromise subsidiary, net 16,922 0 0
Total net cash provided by (used in) investing activities 16,922 0 0
Cash flows from financing activities:      
Unsecured debt issued 495,000 0 0
Issuance costs for unsecured debt offering (1,309) 0 0
Repurchase of Series B Preferred Stock (68,055) 0 0
Common stock dividends paid (46,351) (51,114) 0
Preferred stock dividends paid (9,734) (16,837) (15,640)
Common stock repurchased (558,167) (167,201) 0
Net cash (used in) provided by financing activities (188,616) (235,152) (15,640)
Net (decrease) increase in cash and cash equivalents 385,566 (38,268) (68,479)
Cash and cash equivalents at beginning of year 153,508 191,776 260,255
Cash and cash equivalents at end of year $ 539,074 $ 153,508 $ 191,776