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v3.22.2.2

Allowance for Loan Losses - Allowance for Credit Losses and Recorded Investments in Loans (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021
Allowance for Loan Losses |  |  |  |
Beginning balance | $ 1,166 | $ 1,253 | $ 1,271 | $ 1,377
Provision: |  |  |  |
Reversal of allowance related to loan sales |  |  |  | (107)
Remaining provision |  |  |  | 41
Total provision | 28 | 22 | 62 | (66)
Charge-offs: |  |  |  |
Gross charge-offs | (130) | (53) | (310) | (144)
Expected future recoveries on current period gross charge-offs | 19 | 6 | 43 | 16
Total | (111) | (47) | (267) | (128)
Adjustment resulting from the change in charge-off rate | (30) | (16) | (30) | (16)
Net charge-offs | (141) | (63) | (297) | (144)
Decrease in expected future recoveries on previously fully charged-off loans | 32 | 37 | 49 | 82
Allowance at end of period | 1,085 | 1,249 | 1,085 | 1,249
FFELP Loans [Member] |  |  |  |
Allowance for Loan Losses |  |  |  |
Beginning balance | 245 | 277 | 262 | 288
Charge-offs: |  |  |  |
Gross charge-offs | (12) | (8) | (29) | (19)
Total | (12) | (8) | (29) | (19)
Net charge-offs | (12) | (8) | (29) | (19)
Allowance at end of period | $ 233 | $ 269 | $ 233 | $ 269
Net charge-offs as a percentage of average loans in repayment, excluding the net adjustment resulting from the change in the charge-off rate | 0.12% | 0.07% | 0.09% | 0.06%
Net charge-offs as a percentage of average loans in repayment (annualized) | 0.12% | 0.07% | 0.09% | 0.06%
Ending total loans | $ 47,124 | $ 54,619 | $ 47,124 | $ 54,619
Average loans in repayment | 39,573 | 45,201 | 41,793 | 46,191
Ending loans in repayment | 37,731 | 44,160 | 37,731 | 44,160
Private Education Loans [Member] |  |  |  |
Allowance for Loan Losses |  |  |  |
Beginning balance | 921 | 976 | 1,009 | 1,089
Provision: |  |  |  |
Reversal of allowance related to loan sales |  |  |  | (107)
Remaining provision |  |  |  | 41
Total provision | 28 | 22 | 62 | (66)
Charge-offs: |  |  |  |
Gross charge-offs | (118) | (45) | (281) | (125)
Expected future recoveries on current period gross charge-offs | 19 | 6 | 43 | 16
Total | (99) | (39) | (238) | (109)
Adjustment resulting from the change in charge-off rate | (30) | (16) | (30) | (16)
Net charge-offs | (129) | (55) | (268) | (125)
Decrease in expected future recoveries on previously fully charged-off loans | 32 | 37 | 49 | 82
Allowance at end of period | $ 852 | $ 980 | $ 852 | $ 980
Net charge-offs as a percentage of average loans in repayment, excluding the net adjustment resulting from the change in the charge-off rate | 2.01% | 0.77% | 1.59% | 0.72%
Net adjustment resulting from the change in charge-off rate as a percentage of average loans in repayment | 0.60% | 0.33% | 0.20% | 0.11%
Net charge-offs as a percentage of average loans in repayment (annualized) | 2.61% | 1.10% | 1.79% | 0.83%
Ending total loans | $ 20,003 | $ 20,998 | $ 20,003 | $ 20,998
Average loans in repayment | 19,628 | 19,894 | 20,056 | 20,145
Ending loans in repayment | $ 19,284 | $ 19,795 | $ 19,284 | $ 19,795

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