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Allowance for Credit Losses - Allowance and Recorded Investments in Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021
Allowance for Credit Losses |  |  |
Beginning balance | $ 1,165,335 | $ 1,361,723 | $ 1,361,723
Transfer from unfunded commitment liability | 94,686 | 126,880 |
Provision for current period | 48,618 | (254,999) |
Loan sale reduction to provision | (5,247) | (8,858) |
Loan transfer from held-for-sale |  | 1,887 |
Total provisions | 43,371 | (261,970) |
Net charge-offs: |  |  |
Charge-offs | (84,066) | (55,316) |
Recoveries | 8,036 | 7,704 |
Net charge-offs | (76,030) | (47,612) |
Ending Balance | 1,227,362 | 1,179,021 | 1,165,335
Allowance |  |  |
Ending balance: individually evaluated for impairment | 0 | 95,536 |
Ending balance: collectively evaluated for impairment | 1,227,362 | 1,083,485 |
Loans: |  |  |
Ending balance: individually evaluated for impairment | 0 | 1,225,604 |
Ending balance: collectively evaluated for impairment | 22,445,189 | 20,255,209 |
Provisions for loan losses | 43,213 | (261,913) |
Provisions for unfunded loan commitments | 54,679 | 36,203 |
Total Private Education Loan provisions for credit losses | 97,892 | (225,710) |
Private Education Loan provision for credit losses, other impacts | 158 | (57) |
Less: provisions for credit losses | 98,050 | (225,767) |
FFELP Loans |  |  |
Allowance for Credit Losses |  |  |
Beginning balance | 4,077 | 4,378 | 4,378
Transfer from unfunded commitment liability | 0 | 0 |
Provision for current period | 21 | 29 |
Loan sale reduction to provision | 0 | 0 |
Loan transfer from held-for-sale |  | 0 |
Total provisions | 21 | 29 |
Net charge-offs: |  |  |
Charge-offs | (99) | (89) |
Recoveries | 0 | 0 |
Net charge-offs | (99) | (89) |
Ending Balance | 3,999 | 4,318 | 4,077
Allowance |  |  |
Ending balance: individually evaluated for impairment | 0 | 0 |
Ending balance: collectively evaluated for impairment | 3,999 | 4,318 |
Loans: |  |  |
Ending balance: individually evaluated for impairment | 0 | 0 |
Ending balance: collectively evaluated for impairment | $ 682,273 | $ 727,664 |
Net charge-offs as a percentage of average loans in repayment (annualized) | 0.07% | 0.06% |
Allowance as a percentage of the ending total loan balance | 0.59% | 0.59% |
Allowance as a percentage of the ending loans in repayment | 0.75% | 0.80% |
Allowance coverage of net charge-offs (annualized) | 10.10 | 12.13 |
Ending total loans, gross | $ 682,273 | $ 727,664 |
Average loans in repayment | 543,303 | 554,510 |
Ending loans in repayment | 535,080 | 540,903 |
Private Education Loan provision for credit losses, other impacts | 21 | 29 |
Private Education Loans |  |  |
Allowance for Credit Losses |  |  |
Beginning balance | 1,158,977 | 1,355,844 | 1,355,844
Transfer from unfunded commitment liability | 94,686 | 126,880 |
Provision for current period | 48,460 | (254,942) |
Loan sale reduction to provision | (5,247) | (8,858) |
Loan transfer from held-for-sale |  | 1,887 |
Total provisions | 43,213 | (261,913) |
Net charge-offs: |  |  |
Charge-offs | (83,856) | (55,139) |
Recoveries | 8,033 | 7,703 |
Net charge-offs | (75,823) | (47,436) |
Ending Balance | 1,221,053 | 1,173,375 | 1,158,977
Allowance |  |  |
Ending balance: individually evaluated for impairment | 0 | 95,536 |
Ending balance: collectively evaluated for impairment | 1,221,053 | 1,077,839 |
Loans: |  |  |
Ending balance: individually evaluated for impairment | 0 | 1,225,604 |
Ending balance: collectively evaluated for impairment | $ 21,735,369 | $ 19,516,236 |
Net charge-offs as a percentage of average loans in repayment (annualized) | 1.89% | 1.29% |
Allowance as a percentage of the ending total loan balance | 5.62% | 5.66% |
Allowance as a percentage of the ending loans in repayment | 7.59% | 7.94% |
Allowance coverage of net charge-offs (annualized) | 4.03 | 6.18 |
Ending total loans, gross | $ 21,735,369 | $ 20,741,840 |
Average loans in repayment | 16,013,289 | 14,743,508 |
Ending loans in repayment | 16,095,157 | 14,777,939 |
Credit Cards |  |  |
Allowance for Credit Losses |  |  |
Beginning balance | 2,281 | 1,501 | 1,501
Transfer from unfunded commitment liability | 0 | 0 |
Provision for current period | 137 | (86) |
Loan sale reduction to provision | 0 | 0 |
Loan transfer from held-for-sale |  | 0 |
Total provisions | 137 | (86) |
Net charge-offs: |  |  |
Charge-offs | (111) | (88) |
Recoveries | 3 | 1 |
Net charge-offs | (108) | (87) |
Ending Balance | 2,310 | 1,328 | $ 2,281
Allowance |  |  |
Ending balance: individually evaluated for impairment | 0 | 0 |
Ending balance: collectively evaluated for impairment | 2,310 | 1,328 |
Loans: |  |  |
Ending balance: individually evaluated for impairment | 0 | 0 |
Ending balance: collectively evaluated for impairment | $ 27,547 | $ 11,309 |
Net charge-offs as a percentage of average loans in repayment (annualized) | 1.63% | 2.92% |
Allowance as a percentage of the ending total loan balance | 8.39% | 11.74% |
Allowance as a percentage of the ending loans in repayment | 8.39% | 11.74% |
Allowance coverage of net charge-offs (annualized) | 5.35 | 3.82 |
Ending total loans, gross | $ 27,547 | $ 11,309 |
Average loans in repayment | 26,551 | 11,909 |
Ending loans in repayment | 27,547 | 11,309 |
Private Education Loan provision for credit losses, other impacts | $ 137 | $ (86) |

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