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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, 2024 | Mar. 31, 2023 | Dec. 31, 2023
Allowance for Credit Losses |  |  |
Beginning balance | $ 1,339,772 | $ 1,357,075 | $ 1,357,075
Transfer from unfunded commitment liability | 131,614 | 148,513 |
Provision for current period | 94,559 | 57,803 |
Loan sale reduction to provision | (133,204) |  |
Total provisions | (38,645) | 57,803 |
Net charge-offs: |  |  |
Charge-offs | (93,997) | (96,082) |
Recoveries | 11,314 | 11,997 |
Net charge-offs | (82,683) | (84,085) |
Ending Balance | 1,350,058 | 1,479,306 | 1,339,772
Allowance |  |  |
Ending balance: collectively evaluated for impairment | 1,350,058 | 1,479,306 |
Loans |  |  |
Ending balance: collectively evaluated for impairment | 21,468,709 | 22,490,321 |
Accrued Interest to be Capitalized |  |  |
Ending balance: collectively evaluated for impairment | 1,217,295 | 1,150,802 |
Other impacts to the provisions for credit losses | 83 | 1,469 |
Provisions for credit losses reported in consolidated statements of income | 12,041 | 114,112 |
FFELP Loans |  |  |
Allowance for Credit Losses |  |  |
Beginning balance | 4,667 | 3,444 | 3,444
Transfer from unfunded commitment liability | 0 | 0 |
Provision for current period | 83 | 739 |
Loan sale reduction to provision | 0 |  |
Total provisions | 83 | 739 |
Net charge-offs: |  |  |
Charge-offs | (123) | (256) |
Recoveries | 0 | 0 |
Net charge-offs | (123) | (256) |
Ending Balance | 4,627 | 3,927 | 4,667
Allowance |  |  |
Ending balance: collectively evaluated for impairment | 4,627 | 3,927 |
Loans |  |  |
Ending balance: collectively evaluated for impairment | 516,363 | 592,318 |
Accrued Interest to be Capitalized |  |  |
Ending balance: collectively evaluated for impairment | $ 0 | $ 0 |
Net charge-offs as a percentage of average loans in repayment (annualized) | 0.12% | 0.23% |
Allowance as a percentage of the ending total loan balance and accrued interest to be capitalized | 0.90% | 0.66% |
Allowance as a percentage of the ending loans in repayment and accrued interest to be capitalized on loans in repayment | 1.17% | 0.88% |
Allowance coverage of net charge-offs (annualized) | 9.40 | 3.83 |
Ending total loans, gross | $ 516,363 | $ 592,318 |
Average loans in repayment | 399,680 | 451,451 |
Ending loans in repayment | 393,820 | 446,214 |
Accrued interest to be capitalized on loans in repayment | 0 | 0 |
Other impacts to the provisions for credit losses | 83 | 739 |
Private Education Loans |  |  |
Allowance for Credit Losses |  |  |
Beginning balance | 1,335,105 | 1,353,631 | 1,353,631
Transfer from unfunded commitment liability | 131,614 | 148,513 |
Provision for current period | 94,476 | 56,334 |
Loan sale reduction to provision | (133,204) |  |
Total provisions | (38,728) | 56,334 |
Net charge-offs: |  |  |
Charge-offs | (93,874) | (95,085) |
Recoveries | 11,314 | 11,986 |
Net charge-offs | (82,560) | (83,099) |
Ending Balance | 1,345,431 | 1,475,379 | 1,335,105
Allowance |  |  |
Ending balance: collectively evaluated for impairment | 1,345,431 | 1,475,379 |
Loans |  |  |
Ending balance: collectively evaluated for impairment | 20,952,346 | 21,898,003 |
Accrued Interest to be Capitalized |  |  |
Ending balance: collectively evaluated for impairment | $ 1,217,295 | $ 1,150,802 |
Net charge-offs as a percentage of average loans in repayment (annualized) | 2.14% | 2.11% |
Allowance as a percentage of the ending total loan balance and accrued interest to be capitalized | 6.07% | 6.40% |
Allowance as a percentage of the ending loans in repayment and accrued interest to be capitalized on loans in repayment | 8.74% | 9.00% |
Allowance coverage of net charge-offs (annualized) | 4.07 | 4.44 |
Ending total loans, gross | $ 20,952,346 | $ 21,898,003 |
Average loans in repayment | 15,407,495 | 15,764,143 |
Ending loans in repayment | 14,961,692 | 15,990,459 |
Accrued interest to be capitalized on loans in repayment | 440,259 | 408,263 |
Provisions for loan losses | (38,728) | 56,334 |
Provisions for unfunded loan commitments | 50,686 | 56,309 |
Total Private Education Loan provisions for credit losses | $ 11,958 | 112,643 |
Credit Cards |  |  |
Allowance for Credit Losses |  |  |
Beginning balance |  | 0 | $ 0
Transfer from unfunded commitment liability |  | 0 |
Provision for current period |  | 730 |
Total provisions |  | 730 |
Net charge-offs: |  |  |
Charge-offs |  | (741) |
Recoveries |  | 11 |
Net charge-offs |  | (730) |
Ending Balance |  | 0 |
Allowance |  |  |
Ending balance: collectively evaluated for impairment |  | 0 |
Loans |  |  |
Ending balance: collectively evaluated for impairment |  | 0 |
Accrued Interest to be Capitalized |  |  |
Ending balance: collectively evaluated for impairment |  | $ 0 |
Net charge-offs as a percentage of average loans in repayment (annualized) |  | 0.00% |
Allowance as a percentage of the ending total loan balance and accrued interest to be capitalized |  | 0.00% |
Allowance as a percentage of the ending loans in repayment and accrued interest to be capitalized on loans in repayment |  | 0.00% |
Allowance coverage of net charge-offs (annualized) |  | 0 |
Ending total loans, gross |  | $ 0 |
Average loans in repayment |  | 0 |
Ending loans in repayment |  | 0 |
Accrued interest to be capitalized on loans in repayment |  | 0 |
Other impacts to the provisions for credit losses |  | $ 730 |

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