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Allowance for Credit Losses - Allowance and Recorded Investments in Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended
--- | --- | --- | ---
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022
Allowance for Credit Losses |  |  |  |  |
Beginning balance | $ 1,479,306 | $ 1,227,362 | $ 1,357,075 | $ 1,165,335 | $ 1,165,335
Transfer from unfunded commitment liability | 28,188 | 40,528 | 176,701 | 135,214 |
Provision for current period | 96,192 | 25,050 | 153,995 | 73,668 |
Loan sale reduction to provision | (136,531) | (115,852) | (136,531) | (121,099) |
Total provisions | (40,339) | (90,802) | 17,464 | (47,431) |
Net charge-offs: |  |  |  |  |
Charge-offs | (114,134) | (106,999) | (210,216) | (191,065) |
Recoveries | 11,695 | 10,977 | 23,692 | 19,013 |
Net charge-offs | (102,439) | (96,022) | (186,524) | (172,052) |
Ending Balance | 1,364,716 | 1,081,066 | 1,364,716 | 1,081,066 | 1,357,075
Allowance |  |  |  |  |
Ending balance: collectively evaluated for impairment | 1,364,716 | 1,081,066 | 1,364,716 | 1,081,066 |
Loans |  |  |  |  |
Ending balance: collectively evaluated for impairment | 20,511,960 | 20,213,751 | 20,511,960 | 20,213,751 |
Accrued Interest to be Capitalized [Abstract] |  |  |  |  |
Ending balance: collectively evaluated for impairment | 1,136,973 | 1,029,381 | 1,136,973 | 1,029,381 |
Private Education Loan provision for credit losses, other impacts | 90 | 519 | 1,559 | 677 |
Provisions for credit losses reported in consolidated statements of income | 17,729 | 30,545 | 131,841 | 128,595 |
FFELP Loans |  |  |  |  |
Allowance for Credit Losses |  |  |  |  |
Beginning balance | 3,927 | 3,999 | 3,444 | 4,077 | 4,077
Transfer from unfunded commitment liability | 0 | 0 | 0 | 0 |
Provision for current period | 820 | 60 | 1,559 | 81 |
Loan sale reduction to provision | 0 | 0 | 0 | 0 |
Total provisions | 820 | 60 | 1,559 | 81 |
Net charge-offs: |  |  |  |  |
Charge-offs | (325) | (130) | (581) | (229) |
Recoveries | 0 | 0 | 0 | 0 |
Net charge-offs | (325) | (130) | (581) | (229) |
Ending Balance | 4,422 | 3,929 | 4,422 | 3,929 | 3,444
Allowance |  |  |  |  |
Ending balance: collectively evaluated for impairment | 4,422 | 3,929 | 4,422 | 3,929 |
Loans |  |  |  |  |
Ending balance: collectively evaluated for impairment | 573,597 | 665,666 | 573,597 | 665,666 |
Accrued Interest to be Capitalized [Abstract] |  |  |  |  |
Ending balance: collectively evaluated for impairment | $ 0 | $ 0 | $ 0 | $ 0 |
Net charge-offs as a percentage of average loans in repayment (annualized) | 0.29% | 0.10% | 0.26% | 0.08% |
Allowance as a percentage of the ending total loan balance and accrued interest to be capitalized | 0.77% | 0.59% | 0.77% | 0.59% |
Allowance as a percentage of the ending loans in repayment and accrued interest to be capitalized on loans in repayment | 1.02% | 0.73% | 1.02% | 0.73% |
Allowance coverage of net charge-offs (annualized) | 3.40 | 7.56 | 3.81 | 8.58 |
Ending total loans, gross | $ 573,597 | $ 665,666 | $ 573,597 | $ 665,666 |
Average loans in repayment | 441,749 | 537,449 | 446,655 | 541,133 |
Ending loans in repayment | 431,543 | 538,081 | 431,543 | 538,081 |
Accrued interest to be capitalized on loans in repayment | 0 | 0 | 0 | 0 |
Private Education Loan provision for credit losses, other impacts | 820 | 60 | 1,559 | 81 |
Private Education Loans |  |  |  |  |
Allowance for Credit Losses |  |  |  |  |
Beginning balance | 1,475,379 | 1,221,053 | 1,353,631 | 1,158,977 | 1,158,977
Transfer from unfunded commitment liability | 28,188 | 40,528 | 176,701 | 135,214 |
Provision for current period | 96,102 | 24,531 | 152,436 | 72,991 |
Loan sale reduction to provision | (136,531) | (115,852) | (136,531) | (121,099) |
Total provisions | (40,429) | (91,321) | 15,905 | (48,108) |
Net charge-offs: |  |  |  |  |
Charge-offs | (114,550) | (106,493) | (209,635) | (190,349) |
Recoveries | 11,706 | 10,977 | 23,692 | 19,010 |
Net charge-offs | (102,844) | (95,516) | (185,943) | (171,339) |
Ending Balance | 1,360,294 | 1,074,744 | 1,360,294 | 1,074,744 | 1,353,631
Allowance |  |  |  |  |
Ending balance: collectively evaluated for impairment | 1,360,294 | 1,074,744 | 1,360,294 | 1,074,744 |
Loans |  |  |  |  |
Ending balance: collectively evaluated for impairment | 19,938,363 | 19,519,185 | 19,938,363 | 19,519,185 |
Accrued Interest to be Capitalized [Abstract] |  |  |  |  |
Ending balance: collectively evaluated for impairment | $ 1,136,973 | $ 1,029,381 | $ 1,136,973 | $ 1,029,381 |
Net charge-offs as a percentage of average loans in repayment (annualized) | 2.69% | 2.56% | 2.41% | 2.23% |
Allowance as a percentage of the ending total loan balance and accrued interest to be capitalized | 6.45% | 5.23% | 6.45% | 5.23% |
Allowance as a percentage of the ending loans in repayment and accrued interest to be capitalized on loans in repayment | 9.03% | 7.22% | 9.03% | 7.22% |
Allowance coverage of net charge-offs (annualized) | 3.31 | 2.81 | 3.66 | 3.14 |
Ending total loans, gross | $ 19,938,363 | $ 19,519,185 | $ 19,938,363 | $ 19,519,185 |
Average loans in repayment | 15,269,101 | 14,901,040 | 15,448,931 | 15,366,023 |
Ending loans in repayment | 14,652,527 | 14,525,259 | 14,652,527 | 14,525,259 |
Accrued interest to be capitalized on loans in repayment | 408,923 | 359,343 | 408,923 | 359,343 |
Provisions for loan losses | (40,429) | (91,321) | 15,905 | (48,108) |
Provisions for unfunded loan commitments | 58,068 | 121,347 | 114,377 | 176,026 |
Total Private Education Loan provisions for credit losses | 17,639 | 30,026 | 130,282 | 127,918 |
Credit Cards |  |  |  |  |
Allowance for Credit Losses |  |  |  |  |
Beginning balance | 0 | 2,310 |  | 2,281 | $ 2,281
Transfer from unfunded commitment liability | 0 | 0 |  | 0 |
Provision for current period | (730) | 459 |  | 596 |
Loan sale reduction to provision | 0 | 0 |  | 0 |
Total provisions | (730) | 459 |  | 596 |
Net charge-offs: |  |  |  |  |
Charge-offs |  | (376) |  | (487) |
Charge-offs | 741 |  |  |  |
Recoveries | (11) |  |  |  |
Recoveries |  | 0 |  | 3 |
Net charge-offs | 730 | (376) |  | (484) |
Ending Balance | 0 | 2,393 | 0 | 2,393 |
Allowance |  |  |  |  |
Ending balance: collectively evaluated for impairment | 0 | 2,393 | 0 | 2,393 |
Loans |  |  |  |  |
Ending balance: collectively evaluated for impairment | 0 | 28,900 | 0 | 28,900 |
Accrued Interest to be Capitalized [Abstract] |  |  |  |  |
Ending balance: collectively evaluated for impairment | $ 0 | $ 0 | 0 | $ 0 |
Net charge-offs as a percentage of average loans in repayment (annualized) | 0.00% | 5.33% |  | 3.54% |
Allowance as a percentage of the ending total loan balance and accrued interest to be capitalized | 0.00% | 8.28% |  | 8.28% |
Allowance as a percentage of the ending loans in repayment and accrued interest to be capitalized on loans in repayment | 0.00% | 8.28% |  | 8.28% |
Allowance coverage of net charge-offs (annualized) | 0 | 1.59 |  | 2.47 |
Ending total loans, gross | $ 0 | $ 28,900 | 0 | $ 28,900 |
Average loans in repayment | 0 | 28,243 |  | 27,375 |
Ending loans in repayment | 0 | 28,900 | 0 | 28,900 |
Accrued interest to be capitalized on loans in repayment | 0 | 0 | $ 0 | 0 |
Private Education Loan provision for credit losses, other impacts | $ (730) | $ 459 |  | $ 596 |

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