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Loans Receivable and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Schedule of Loans Receivable

Loans receivable consisted of the following:

			As of												As of
			September 30, 2019												December 31, 2018
Federally insured student loans:
Stafford and other			$	4,720,338											4,969,667
Consolidation			15,975,499												17,186,229
Total			20,695,837												22,155,896
Private education loans			189,912												225,975
Consumer loans			321,199												138,627
			21,206,948												22,520,498
Loan discount, net of unamortized loan premiums and deferred origination costs			(36,483)												(53,572)
Non-accretable discount			(32,607)												(29,396)
Allowance for loan losses:
Federally insured loans			(37,676)												(42,310)
Private education loans			(9,882)												(10,838)
Consumer loans			(18,859)												(7,240)
			$	21,071,441											22,377,142

Activity in the Allowance for Loan Losses

Activity in the allowance for loan losses is shown below.

			Balance at beginning of period						Provision for loan losses						Charge-offs						Recoveries						Loan sale and other						Balance at end of period
			Three months ended September 30, 2019
Federally insured loans			$	39,056					2,000						(3,380)						—						—						37,676
Private education loans			10,157						—						(459)						184						—						9,882
Consumer loans			13,378						8,000						(2,759)						240						—						18,859
			$	62,591					10,000						(6,598)						424						—						66,417
			Three months ended September 30, 2018
Federally insured loans			$	37,263					8,000						(2,210)						—						—						43,053
Private education loans			11,664						—						(535)						124						—						11,253
Consumer loans			4,788						2,500						(1,403)						26						—						5,911
			$	53,715					10,500						(4,148)						150						—						60,217
			Nine months ended September 30, 2019
Federally insured loans			$	42,310					6,000						(10,634)						—						—						37,676
Private education loans			10,838						—						(1,529)						573						—						9,882
Consumer loans			7,240						20,000						(7,417)						536						(1,500)						18,859
			$	60,388					26,000						(19,580)						1,109						(1,500)						66,417
			Nine months ended September 30, 2018
Federally insured loans			$	38,706					12,000						(8,653)						—						1,000						43,053
Private education loans			12,629						—						(1,846)						470						—						11,253
Consumer loans			3,255						6,000						(3,376)						32						—						5,911
			$	54,590					18,000						(13,875)						502						1,000						60,217

Loans Receivable Delinquencies

The table below shows the Company’s loan delinquency amounts.

			As of September 30, 2019																		As of December 31, 2018																		As of September 30, 2018
Federally insured loans:
Loans in-school/grace/deferment			$	1,243,705											$	1,298,493											$	1,410,902
Loans in forbearance			1,391,482												1,430,291												1,487,107
Loans in repayment status:
Loans current			15,646,231						86.7		%				16,882,252						86.9		%				16,921,119						86.8		%
Loans delinquent 31-60 days			662,431						3.8						683,084						3.5						689,454						3.5
Loans delinquent 61-90 days			402,197						2.2						427,764						2.2						412,639						2.1
Loans delinquent 91-120 days			279,524						1.5						283,831						1.5						347,013						1.8
Loans delinquent 121-270 days			795,230						4.4						806,692						4.2						853,224						4.4
Loans delinquent 271 days or greater			275,037						1.4						343,489						1.7						269,285						1.4
Total loans in repayment			18,060,650						100.0		%				19,427,112						100.0		%				19,492,734						100.0		%
Total federally insured loans			$	20,695,837											$	22,155,896											$	22,390,743
Private education loans:
Loans in-school/grace/deferment			$	3,944											$	4,320											$	3,550
Loans in forbearance			2,242												1,494												1,577
Loans in repayment status:
Loans current			173,883						94.7		%				208,977						95.0		%				156,383						95.2		%
Loans delinquent 31-60 days			3,011						1.6						3,626						1.6						1,796						1.1
Loans delinquent 61-90 days			1,370						0.7						1,560						0.7						1,155						0.7
Loans delinquent 91 days or greater			5,462						3.0						5,998						2.7						5,006						3.0
Total loans in repayment			183,726						100.0		%				220,161						100.0		%				164,340						100.0		%
Total private education loans			$	189,912											$	225,975											$	169,467
Consumer loans:
Loans in repayment status:
Loans current			$	315,708					98.3		%				$	136,130					98.2		%				$	110,885					98.5		%
Loans delinquent 31-60 days			2,249						0.7						1,012						0.7						905						0.8
Loans delinquent 61-90 days			1,617						0.5						832						0.6						355						0.3
Loans delinquent 91 days or greater			1,625						0.5						653						0.5						402						0.4
Total loans in repayment			321,199						100.0		%				138,627						100.0		%				112,547						100.0		%
Total consumer loans			$	321,199											$	138,627											$	112,547

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- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447

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- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447

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-Topic 310
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-Section 50
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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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