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Parent Only Statements - Statements of Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 469,014 $ 1,160,513 $ 880,690
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Reduction of tax indemnification receivable 5,231 10,445 9,066
Amortization of unsecured debt upfront fees 2,634 2,415 2,976
Amortization of discount on unsecured borrowings 571 0 0
Acquisition related costs 2,603 0 0
Gain on sale of Upromise subsidiary, net 0 0 (11,331)
Increase in other assets (23,472) (123,268) (50,454)
Increase (decrease) in other liabilities (6,473) 2,801 80,785
Total adjustments (464,022) (1,210,035) (1,063,359)
Total net cash provided by (used in) operating activities 4,992 (49,522) (182,669)
Cash flows from investing activities:      
Purchase of subsidiary, net of cash acquired (127,654) 0 0
Proceeds from the sale of Upromise subsidiary, net 0 0 16,922
Total net cash provided by investing activities 1,077,392 2,604,673 947,330
Cash flows from financing activities:      
Unsecured debt issued 0 492,135 495,000
Unsecured debt repaid 0 (202,784) 0
Repurchase of Series B Preferred Stock 0 0 68,055
Common stock dividends paid (112,961) (60,462) (46,351)
Common stock repurchased (713,197) (1,530,683) (558,167)
Net cash used in financing activities (854,892) (2,619,516) (1,875,712)
Net increase (decrease) in cash, cash equivalents and restricted cash 227,492 (64,365) (1,111,051)
Cash and cash equivalents at beginning of year 4,334,603 4,455,292  
Cash and cash equivalents at end of year 4,616,117 4,334,603 4,455,292
Parent Company      
Cash flows from operating activities:      
Net income 469,014 1,160,513 880,690
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Undistributed earnings of subsidiaries (555,022) (1,271,236) (939,024)
Dividends received from Sallie Mae Bank 699,500 1,444,500 579,400
Reduction of tax indemnification receivable 5,231 10,445 9,066
Amortization of unsecured debt upfront fees 2,651 2,663 1,029
Loss on early extinguishment of unsecured debt 0 2,784 0
Gain on sale of Upromise subsidiary, net 0 0 (11,331)
(Increase) decrease in investment in subsidiaries, net (9,179) 34,935 53,698
(Increase) decrease in due from subsidiaries, net 5,124 (58,310) (4,813)
Increase in other assets (20,533) (16,964) (10,504)
Increase (decrease) in income taxes payable, net (8,713) 36,657 (13,292)
Decrease in payable due to entity that is a subsidiary of Navient (101) (8,430) (533)
Increase (decrease) in other liabilities (1,836) 2,165 12,874
Total adjustments 120,296 179,209 (323,430)
Total net cash provided by (used in) operating activities 589,310 1,339,722 557,260
Cash flows from investing activities:      
Proceeds from the sale of Upromise subsidiary, net 0 0 16,922
Total net cash provided by investing activities (127,654) 0 16,922
Cash flows from financing activities:      
Issuance costs for collateralized borrowings and unsecured debt offering (375) (1,540) (1,309)
Unsecured debt issued 0 492,135 495,000
Unsecured debt repaid 0 (202,784) 0
Repurchase of Series B Preferred Stock 0 0 (68,055)
Common stock dividends paid (112,961) (60,462) (46,351)
Preferred stock dividends paid (9,029) (4,736) (9,734)
Common stock repurchased (713,197) (1,530,683) (558,167)
Net cash used in financing activities (835,562) (1,308,070) (188,616)
Net increase (decrease) in cash, cash equivalents and restricted cash (373,906) 31,652 385,566
Cash and cash equivalents at beginning of year 570,726 539,074 153,508
Cash and cash equivalents at end of year $ 196,820 $ 570,726 $ 539,074