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Allowance for Credit Losses and Unfunded Loan Commitments - Allowance and Recorded Investments in Loans (Details) - USD ($) $ in Thousands | 12 Months Ended |
--- | --- | ---
Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021
Allowance For Credit Losses [Abstract] |  |  |  |
Allowance for loan losses, beginning balance | $ 1,339,772 | $ 1,357,075 | $ 1,165,335 |
Transfer from allowance for unfunded loan commitments | 311,787 | 320,237 | 344,310 |
Provision for current period | 361,077 | 242,571 | 413,535 |
Loan sale reduction to provision | (235,955) | (205,383) | (174,231) |
Loans transferred to held-for-sale |  |  | (2,372) |
Total provisions | 125,122 | 37,188 | 236,932 |
Net charge-offs: |  |  |  |
Charge-offs | (377,220) | (421,096) | (431,244) |
Recoveries | 44,756 | 46,368 | 41,742 |
Net charge-offs | (332,464) | (374,728) | (389,502) |
Write-downs arising from transfer of loans to held for sale | (8,297) |  |  |
Allowance for loan losses, ending balance | 1,435,920 | 1,339,772 | 1,357,075 |
Allowance |  |  |  |
Beginning balance | 112,962 | 124,924 | 72,713 |
Provision | 283,393 | 308,275 | 396,521 |
Transfer to allowance for loan losses | (311,787) | (320,237) | (344,310) |
Ending balance | 84,568 | 112,962 | 124,924 |
Total allowance for credit losses, ending balance | 1,520,488 | 1,452,734 | 1,481,999 |
Accrued interest to be capitalized |  |  |  |
Unfunded loan commitments | 2,311,660 | 2,221,077 | 1,995,808 | $ 1,776,976
Accrued interest receivable | 1,546,590 | 1,379,904 |  |
Other impacts to the provisions for credit losses: | 4,010 | 2,224 | 909 |
Provisions for credit losses | 408,515 | 345,463 | 633,453 |
FFELP Loans |  |  |  |
Allowance For Credit Losses [Abstract] |  |  |  |
Allowance for loan losses, beginning balance | 4,667 | 3,444 | 4,077 |
Transfer from allowance for unfunded loan commitments | 0 | 0 | 0 |
Provision for current period | 4,010 | 2,224 | (20) |
Loan sale reduction to provision | 0 | 0 | 0 |
Loans transferred to held-for-sale |  |  | 0 |
Total provisions | 4,010 | 2,224 | (20) |
Net charge-offs: |  |  |  |
Charge-offs | (380) | (1,001) | (613) |
Recoveries | 0 | 0 | 0 |
Net charge-offs | (380) | (1,001) | (613) |
Write-downs arising from transfer of loans to held for sale | (8,297) |  |  |
Allowance for loan losses, ending balance | 0 | 4,667 | 3,444 |
Allowance |  |  |  |
Beginning balance | 0 | 0 | 0 |
Provision | 0 | 0 | 0 |
Transfer to allowance for loan losses | 0 | 0 | 0 |
Ending balance | 0 | 0 | 0 |
Total allowance for credit losses, ending balance | $ 0 | $ 4,667 | $ 3,444 |
Accrued interest to be capitalized |  |  |  |
Net charge-offs as a percentage of average loans in repayment | 0.00% | 0.23% | 0.12% |
Allowance for loan losses coverage of net charge-offs | 0 | 4.66 | 5.62 |
Total allowance for credit losses as a percentage of the ending total loan balance, plus unfunded loan commitments and total accrued interest receivable | 0.00% | 0.87% | 0.57% |
Ending total loans, gross | $ 0 | $ 537,401 | $ 609,050 |
Average loans in repayment | 0 | 433,225 | 517,139 |
Ending loans in repayment | 0 | 406,568 | 453,915 |
Unfunded loan commitments | 0 | 0 | 0 |
Accrued interest receivable | 0 | 0 | 0 |
Other impacts to the provisions for credit losses: | 4,010 | 2,224 | (20) |
Private Education Loans |  |  |  |
Allowance For Credit Losses [Abstract] |  |  |  |
Allowance for loan losses, beginning balance | 1,335,105 | 1,353,631 | 1,158,977 |
Transfer from allowance for unfunded loan commitments | 311,787 | 320,237 | 344,310 |
Provision for current period | 357,067 | 240,347 | 410,254 |
Loan sale reduction to provision | (235,955) | (205,383) | (174,231) |
Loans transferred to held-for-sale |  |  | 0 |
Total provisions | 121,112 | 34,964 | 236,023 |
Net charge-offs: |  |  |  |
Charge-offs | (376,840) | (420,095) | (427,416) |
Recoveries | 44,756 | 46,368 | 41,737 |
Net charge-offs | (332,084) | (373,727) | (385,679) |
Write-downs arising from transfer of loans to held for sale | 0 |  |  |
Allowance for loan losses, ending balance | 1,435,920 | 1,335,105 | 1,353,631 |
Allowance |  |  |  |
Beginning balance | 112,962 | 124,924 | 72,713 |
Provision | 283,393 | 308,275 | 396,521 |
Transfer to allowance for loan losses | (311,787) | (320,237) | (344,310) |
Ending balance | 84,568 | 112,962 | 124,924 |
Total allowance for credit losses, ending balance | $ 1,520,488 | $ 1,448,067 | $ 1,478,555 |
Accrued interest to be capitalized |  |  |  |
Net charge-offs as a percentage of average loans in repayment | 2.19% | 2.44% | 2.55% |
Allowance for loan losses coverage of net charge-offs | 4.32 | 3.57 | 3.51 |
Total allowance for credit losses as a percentage of the ending total loan balance, plus unfunded loan commitments and total accrued interest receivable | 5.83% | 5.89% | 6.30% |
Ending total loans, gross | $ 22,235,008 | $ 21,025,844 | $ 20,303,688 |
Average loans in repayment | 15,139,184 | 15,310,934 | 15,103,123 |
Ending loans in repayment | 16,106,751 | 15,409,814 | 15,129,550 |
Unfunded loan commitments | 2,311,660 | 2,221,077 | 1,995,808 |
Accrued interest receivable | 1,549,415 | 1,354,565 | 1,177,562 |
Provisions for loan losses | 121,112 | 34,964 | 236,023 |
Provisions for unfunded loan commitments | 283,393 | 308,275 | 396,521 |
Total Private Education Loan provisions for credit losses | 404,505 | 343,239 | 632,544 |
Credit Cards |  |  |  |
Allowance For Credit Losses [Abstract] |  |  |  |
Allowance for loan losses, beginning balance |  | 0 | 2,281 |
Transfer from allowance for unfunded loan commitments |  |  | 0 |
Provision for current period |  |  | 3,301 |
Loan sale reduction to provision |  |  | 0 |
Loans transferred to held-for-sale |  |  | (2,372) |
Total provisions |  |  | 929 |
Net charge-offs: |  |  |  |
Charge-offs |  |  | (3,215) |
Recoveries |  |  | 5 |
Net charge-offs |  |  | (3,210) |
Allowance for loan losses, ending balance |  |  | 0 |
Allowance |  |  |  |
Beginning balance |  | 0 | 0 |
Provision |  |  | 0 |
Transfer to allowance for loan losses |  |  | 0 |
Ending balance |  |  | 0 |
Total allowance for credit losses, ending balance |  |  | $ 0 |
Accrued interest to be capitalized |  |  |  |
Net charge-offs as a percentage of average loans in repayment |  |  | 0.00% |
Allowance for loan losses coverage of net charge-offs |  |  | 0 |
Total allowance for credit losses as a percentage of the ending total loan balance, plus unfunded loan commitments and total accrued interest receivable |  |  | 0.00% |
Ending total loans, gross |  |  | $ 0 |
Average loans in repayment |  |  | 0 |
Ending loans in repayment |  |  | 0 |
Unfunded loan commitments |  |  | 0 |
Accrued interest receivable |  |  | 0 |
Other impacts to the provisions for credit losses: | $ 0 | $ 0 | $ 929 |

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