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v3.23.3

Borrowings - Secured Financing (Details) - USD ($) | 1 Months Ended |  |
--- | --- | --- | ---
Aug. 31, 2023 | Mar. 31, 2023 | Aug. 31, 2022 | Sep. 30, 2023 | Dec. 31, 2022
Securities Financing Transaction [Line Items] |  |  |  |  |
Total Issued |  |  |  | $ 1,147,000,000 | $ 575,000,000
Total loans and accrued interest amount securitized at inception |  |  |  | 1,292,507,000 | $ 674,387,000
2022-C |  |  |  |  |
Securities Financing Transaction [Line Items] |  |  |  |  |
Total Issued |  |  | $ 575,000,000 |  |
Weighted Average Life (in years) |  |  | 4 years 8 months 8 days |  |
2022-C | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate |  |  |  |  |
Securities Financing Transaction [Line Items] |  |  |  |  |
Weighted Average Cost of Funds (as a percent) |  |  | 1.76% |  |
2023-A |  |  |  |  |
Securities Financing Transaction [Line Items] |  |  |  |  |
Total Issued |  | $ 579,000,000 |  |  |
Weighted Average Life (in years) |  | 5 years 21 days |  |  |
Principal amount of collateral |  |  |  | 563,000,000 |
Capitalized interest |  |  |  | 46,000,000 |
2023-A | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate |  |  |  |  |
Securities Financing Transaction [Line Items] |  |  |  |  |
Weighted Average Cost of Funds (as a percent) |  | 1.53% |  |  |
2023-C |  |  |  |  |
Securities Financing Transaction [Line Items] |  |  |  |  |
Total Issued | $ 568,000,000 |  |  |  |
Weighted Average Life (in years) | 4 years 11 months 4 days |  |  |  |
Principal amount of collateral |  |  |  | 590,000,000 |
Capitalized interest |  |  |  | 47,000,000 |
2023-C | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate |  |  |  |  |
Securities Financing Transaction [Line Items] |  |  |  |  |
Weighted Average Cost of Funds (as a percent) | 1.69% |  |  |  |
Private Education Loans Securitized in 2022 |  |  |  |  |
Securities Financing Transaction [Line Items] |  |  |  |  |
Loans |  |  |  | 565,000,000 |
Principal amount of collateral |  |  |  | 527,000,000 |
Capitalized interest |  |  |  | 38,000,000 |
Private Education Loans Securitized In 2023 |  |  |  |  |
Securities Financing Transaction [Line Items] |  |  |  |  |
Loans |  |  |  | 1,240,000,000 |
Principal amount of collateral |  |  |  | 1,150,000,000 |
Capitalized interest |  |  |  | $ 94,000,000 |

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