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Allowance for Credit Losses - Allowance and Recorded Investments in Loans (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021
Allowance for Credit Losses |  |  |
Beginning Balance | $ 1,357,075 | $ 1,165,335 | $ 1,361,723
Transfer from unfunded commitment liability | 320,237 | 344,310 | 301,655
Provision for current period | 242,571 | 413,535 | (232,708)
Loan sale reduction to provision | (205,383) | (174,231) | (66,460)
Loans transferred to held-for-sale | 0 | (2,372) | (1,887)
Total provisions | 37,188 | 236,932 | (297,281)
Net charge-offs |  |  |
Charge-offs | (421,096) | (431,244) | (230,268)
Recoveries | 46,368 | 41,742 | 29,506
Net charge-offs | (374,728) | (389,502) | (200,762)
Ending Balance | 1,339,772 | 1,357,075 | 1,165,335
Allowance |  |  |
Ending balance: individually evaluated for impairment |  |  | 47,712
Ending balance: collectively evaluated for impairment | 1,339,772 | 1,357,075 | 1,117,623
Loans |  |  |
Ending balance: individually evaluated for impairment |  |  | 1,057,665
Ending balance: collectively evaluated for impairment | 21,563,245 | 20,912,738 | 20,379,428
Accrued interest to be capitalized |  |  |
Ending balance: individually evaluated for impairment |  |  | 0
Ending balance: collectively evaluated for impairment | 1,203,357 | 936,837 | 947,391
Private Education Loan provision for credit losses, other impacts | 2,224 | 909 | 1,144
Provisions for credit losses reported in consolidated statements of income | 345,463 | 633,453 | (32,957)
Adjustments |  |  |
Allowance for Credit Losses |  |  |
Beginning Balance | (259,536) |  |
Net charge-offs |  |  |
Ending Balance | (259,536) | (259,536) |
FFELP Loans |  |  |
Allowance for Credit Losses |  |  |
Beginning Balance | 3,444 | 4,077 | 4,378
Transfer from unfunded commitment liability | 0 | 0 | 0
Provision for current period | 2,224 | (20) | 20
Loan sale reduction to provision | 0 | 0 | 0
Loans transferred to held-for-sale | 0 | 0 | 0
Total provisions | 2,224 | (20) | 20
Net charge-offs |  |  |
Charge-offs | (1,001) | (613) | (321)
Recoveries | 0 | 0 | 0
Net charge-offs | (1,001) | (613) | (321)
Ending Balance | 4,667 | 3,444 | 4,077
Allowance |  |  |
Ending balance: individually evaluated for impairment |  |  | 0
Ending balance: collectively evaluated for impairment | 4,667 | 3,444 | 4,077
Loans |  |  |
Ending balance: individually evaluated for impairment |  |  | 0
Ending balance: collectively evaluated for impairment | 537,401 | 609,050 | 695,216
Accrued interest to be capitalized |  |  |
Ending balance: individually evaluated for impairment |  |  | 0
Ending balance: collectively evaluated for impairment | $ 0 | $ 0 | $ 0
Net charge-offs as a percentage of average loans in repayment (annualized) | 0.23% | 0.12% | 0.06%
Allowance as a percentage of the ending total loan balance and accrued interest to be capitalized | 0.87% | 0.57% | 0.59%
Allowance as a percentage of the ending loans in repayment and accrued interest to be capitalized on loans in repayment | 1.15% | 0.76% | 0.74%
Allowance coverage of net charge-offs | 4.66 | 5.62 | 12.70
Ending total loans, gross | $ 537,401 | $ 609,050 | $ 695,216
Average loans in repayment | 433,225 | 517,139 | 545,689
Ending loans in repayment | 406,568 | 453,915 | 553,980
Accrued interest to be capitalized on loans in repayment | 0 | 0 | 0
Private Education Loan provision for credit losses, other impacts | 2,224 | (20) | 20
Private Education Loans |  |  |
Allowance for Credit Losses |  |  |
Beginning Balance | 1,353,631 | 1,158,977 | 1,355,844
Transfer from unfunded commitment liability | 320,237 | 344,310 | 301,655
Provision for current period | 240,347 | 410,254 | (233,852)
Loan sale reduction to provision | (205,383) | (174,231) | (66,460)
Loans transferred to held-for-sale | 0 | 0 | (1,887)
Total provisions | 34,964 | 236,023 | (298,425)
Net charge-offs |  |  |
Charge-offs | (420,095) | (427,416) | (229,591)
Recoveries | 46,368 | 41,737 | 29,494
Net charge-offs | (373,727) | (385,679) | (200,097)
Ending Balance | 1,335,105 | 1,353,631 | 1,158,977
Allowance |  |  |
Ending balance: individually evaluated for impairment |  |  | 47,712
Ending balance: collectively evaluated for impairment | 1,335,105 | 1,353,631 | 1,111,265
Loans |  |  |
Ending balance: individually evaluated for impairment |  |  | 1,057,665
Ending balance: collectively evaluated for impairment | 21,025,844 | 20,303,688 | 19,659,198
Accrued interest to be capitalized |  |  |
Ending balance: individually evaluated for impairment |  |  | 0
Ending balance: collectively evaluated for impairment | $ 1,203,357 | $ 936,837 | $ 947,391
Net charge-offs as a percentage of average loans in repayment (annualized) | 2.44% | 2.55% | 1.33%
Allowance as a percentage of the ending total loan balance and accrued interest to be capitalized | 6.01% | 6.37% | 5.35%
Allowance as a percentage of the ending loans in repayment and accrued interest to be capitalized on loans in repayment | 8.43% | 8.76% | 7.32%
Allowance coverage of net charge-offs | 3.57 | 3.51 | 5.79
Ending total loans, gross | $ 21,025,844 | $ 20,303,688 | $ 20,716,863
Average loans in repayment | 15,310,934 | 15,103,123 | 15,019,869
Ending loans in repayment | 15,409,814 | 15,129,550 | 15,511,212
Accrued interest to be capitalized on loans in repayment | 435,807 | 324,384 | 312,537
Provisions for loan losses | 34,964 | 236,023 | (298,425)
Provisions for unfunded loan commitments | 308,275 | 396,521 | 264,324
Total Private Education Loan provisions for credit losses | 343,239 | 632,544 | (34,101)
Credit Cards |  |  |
Allowance for Credit Losses |  |  |
Beginning Balance | $ 0 | 2,281 | 1,501
Transfer from unfunded commitment liability |  | 0 | 0
Provision for current period |  | 3,301 | 1,124
Loan sale reduction to provision |  | 0 | 0
Loans transferred to held-for-sale |  | (2,372) | 0
Total provisions |  | 929 | 1,124
Net charge-offs |  |  |
Charge-offs |  | (3,215) | (356)
Recoveries |  | 5 | 12
Net charge-offs |  | (3,210) | (344)
Ending Balance |  | 0 | 2,281
Allowance |  |  |
Ending balance: individually evaluated for impairment |  |  | 0
Ending balance: collectively evaluated for impairment |  | 0 | 2,281
Loans |  |  |
Ending balance: individually evaluated for impairment |  |  | 0
Ending balance: collectively evaluated for impairment |  | 0 | 25,014
Accrued interest to be capitalized |  |  |
Ending balance: individually evaluated for impairment |  |  | 0
Ending balance: collectively evaluated for impairment |  | $ 0 | $ 0
Net charge-offs as a percentage of average loans in repayment (annualized) |  | 0.00% | 2.24%
Allowance as a percentage of the ending total loan balance and accrued interest to be capitalized |  | 0.00% | 9.12%
Allowance as a percentage of the ending loans in repayment and accrued interest to be capitalized on loans in repayment |  | 0.00% | 9.12%
Allowance coverage of net charge-offs |  | 0 | 6.63
Ending total loans, gross |  | $ 0 | $ 25,014
Average loans in repayment |  | 0 | 15,343
Ending loans in repayment |  | 0 | 25,014
Accrued interest to be capitalized on loans in repayment |  | 0 | 0
Private Education Loan provision for credit losses, other impacts |  | $ 929 | $ 1,124

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