Nelnet (NNI) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	9 Months Ended
	Sep. 30, 2015	Oct. 31, 2015	Jun. 30, 2014
Document Information [Line Items]
Entity Registrant Name	NELNET INC
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Public Float			$ 1,092,770,730
Amendment Flag	false
Entity Central Index Key	1,258,602
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		33,385,821
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,476,932

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets:
Student loans receivable (net of allowance for loan losses)	$ 28,954,280	$ 28,005,195
Cash and cash equivalents:
Cash and cash equivalents - not held at a related party	27,613	37,781
Cash and cash equivalents - held at a related party	86,885	92,700
Total cash and cash equivalents	114,498	130,481
Investments and notes receivable	236,010	235,709
Restricted cash and investments	895,271	850,440
Restricted cash - due to customers	100,089	118,488
Accrued interest receivable	380,441	351,588
Accounts receivable (net of allowance for doubtful accounts)	64,640	50,552
Goodwill	126,200	126,200
Intangible assets, net	35,386	42,582
Property and equipment, net	46,706	45,894
Other assets	76,133	76,622
Fair value of derivative instruments	15,741	64,392
Total assets	31,045,395	30,098,143
Liabilities:
Bonds and notes payable	28,827,603	28,027,350
Accrued interest payable	31,632	25,904
Other liabilities	170,611	167,881
Due to customers	100,089	118,488
Fair value of derivative instruments	80,061	32,842
Total liabilities	29,209,996	28,372,465
Nelnet, Inc. shareholders' equity:
Preferred stock	0	0
Additional paid-in capital	1,441	17,290
Retained earnings	1,830,387	1,702,560
Accumulated other comprehensive earnings	2,876	5,135
Total Nelnet, Inc. shareholders' equity	1,835,153	1,725,448
Noncontrolling interest	246	230
Total equity	1,835,399	1,725,678
Total liabilities and equity	31,045,395	30,098,143
Common Class A [Member]
Nelnet, Inc. shareholders' equity:
Common stock	334	348
Total equity	334	348
Common Class B [Member]
Nelnet, Inc. shareholders' equity:
Common stock	115	115
Total equity	115	115
Variable Interest Entity, Primary Beneficiary [Member]
Assets:
Student loans receivable (net of allowance for loan losses)	29,150,270	28,181,244
Cash and cash equivalents:
Restricted cash and investments	853,186	846,199
Other assets	381,698	351,934
Liabilities:
Bonds and notes payable	29,159,553	28,391,530
Other liabilities	391,535	280,233
Fair value of derivative instruments	53,866	20,455
Equity:
Net assets of consolidated variable interest entities	$ 780,200	$ 687,159

Consolidated Balance Sheets (u3

Consolidated Balance Sheets (unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Allowance for loan losses	$ 50,380	$ 48,900
Allowance for doubtful accounts	$ 2,062	$ 1,656
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	50,000,000	50,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common Class A [Member]
Par Value (in dollars per share)	$ 0.01	$ 0.01
Shares Authorized	600,000,000	600,000,000
Shares Issued	33,388,556	34,756,384
Shares Outstanding	33,388,556	34,756,384
Common Class B [Member]
Par Value (in dollars per share)	$ 0.01	$ 0.01
Shares Authorized	60,000,000	60,000,000
Shares Issued	11,476,932	11,486,932
Shares Outstanding	11,476,932	11,486,932

Consolidated Statements of Inco

Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Interest income:
Loan interest	$ 187,701	$ 187,862	$ 535,480	$ 520,224
Investment interest	1,456	1,562	5,548	5,023
Total interest income	189,157	189,424	541,028	525,247
Interest expense:
Interest on bonds and notes payable	77,164	71,937	221,344	201,176
Net interest income	111,993	117,487	319,684	324,071
Less provision for loan losses	3,000	2,000	7,150	6,000
Net interest income after provision for loan losses	108,993	115,487	312,534	318,071
Other income:
Loan and guaranty servicing revenue	61,520	52,659	183,164	183,876
Tuition payment processing, school information, and campus commerce revenue	30,439	26,399	92,805	73,468
Enrollment services revenue	19,500	22,936	54,524	65,092
Other income	6,523	7,650	20,945	41,096
Gain on sale of loans and debt repurchases	597	0	4,987	57
Derivative market value and foreign currency adjustments and derivative settlements, net	(30,658)	24,203	(27,234)	21,508
Total other income	87,921	133,847	329,191	385,097
Operating expenses:
Salaries and benefits	63,215	61,098	183,052	167,470
Cost to provide enrollment services	12,534	14,178	35,398	41,964
Loan servicing fees	7,793	7,077	22,829	19,798
Depreciation and amortization	6,977	5,493	19,140	15,490
Other	30,419	29,599	91,575	92,882
Total operating expenses	120,938	117,445	351,994	337,604
Income before income taxes	75,976	131,889	289,731	365,564
Income tax expense	26,999	46,513	104,985	130,202
Net income	48,977	85,376	184,746	235,362
Net income attributable to noncontrolling interest	22	157	117	1,363
Net income attributable to Nelnet, Inc.	$ 48,955	$ 85,219	$ 184,629	$ 233,999
Earnings per common share:
Net income attributable to Nelnet, Inc. shareholders - basic and diluted	$ 1.09	$ 1.84	$ 4.03	$ 5.03
Weighted average common shares outstanding - basic and diluted	45,047,777	46,432,680	45,763,443	46,496,309

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income	$ 48,977	$ 85,376	$ 184,746	$ 235,362
Available-for-sale securities:
Unrealized holding (losses) gains arising during period, net	(568)	(738)	(1,217)	8,763
Less reclassification adjustment for gains recognized in net income, net of losses	(73)	(8)	(2,370)	(8,319)
Income tax effect	234	276	1,328	(164)
Total other comprehensive (loss) income	(407)	(470)	(2,259)	280
Comprehensive income	48,570	84,906	182,487	235,642
Comprehensive income attributable to noncontrolling interest	22	157	117	1,363
Comprehensive income attributable to Nelnet, Inc.	$ 48,548	$ 84,749	$ 182,370	$ 234,279

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Class A [Member]	Common Class B [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Accumulated other comprehensive earnings [Member]	Noncontrolling interest [Member]
Balance (in Shares) at Dec. 31, 2013		0	34,881,338	11,495,377
Balance at Dec. 31, 2013	$ 1,443,990	$ 0	$ 349	$ 115	$ 24,887	$ 1,413,492	$ 4,819	$ 328
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interest	201							201
Net income	235,362					233,999		1,363
Other comprehensive income (loss)	280						280
Distribution to noncontrolling interest	(1,624)							(1,624)
Cash dividend on Class A and Class B common stock	(13,914)					(13,914)
Issuance of common stock, net of forfeitures (in Shares)			234,236	0
Issuance of common stock, net of forfeitures	3,341		$ 2	$ 0	3,339
Compensation expense for stock based awards	3,258				3,258
Repurchase of common stock (in Shares)			(327,296)	0
Repurchase of common stock	(13,337)		$ (3)	$ 0	(13,334)
Conversion of Common Stock, Shares Converted			8,445	(8,445)
Conversion of Common Stock, Amount Converted	0		$ 0	$ 0
Balance (in Shares) at Sep. 30, 2014		0	34,796,723	11,486,932
Balance at Sep. 30, 2014	1,657,557	$ 0	$ 348	$ 115	18,150	1,633,577	5,099	268
Balance (in Shares) at Jun. 30, 2014		0	34,859,786	11,491,932
Balance at Jun. 30, 2014	1,580,128	$ 0	$ 349	$ 115	20,721	1,552,988	5,569	386
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	85,376					85,219		157
Other comprehensive income (loss)	(470)						(470)
Distribution to noncontrolling interest	(275)							(275)
Cash dividend on Class A and Class B common stock	(4,630)					(4,630)
Issuance of common stock, net of forfeitures (in Shares)			28,729	0
Issuance of common stock, net of forfeitures	213		$ 0	$ 0	213
Compensation expense for stock based awards	1,248				1,248
Repurchase of common stock (in Shares)			(96,792)	0
Repurchase of common stock	(4,033)		$ (1)	$ 0	(4,032)
Conversion of Common Stock, Shares Converted			5,000	(5,000)
Conversion of Common Stock, Amount Converted	0
Balance (in Shares) at Sep. 30, 2014		0	34,796,723	11,486,932
Balance at Sep. 30, 2014	1,657,557	$ 0	$ 348	$ 115	18,150	1,633,577	5,099	268
Balance (in Shares) at Dec. 31, 2014		0	34,756,384	11,486,932
Balance at Dec. 31, 2014	1,725,678	$ 0	$ 348	$ 115	17,290	1,702,560	5,135	230
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interest	23							23
Net income	184,746					184,629		117
Other comprehensive income (loss)	(2,259)						(2,259)
Distribution to noncontrolling interest	(124)							(124)
Cash dividend on Class A and Class B common stock	(13,659)					(13,659)
Issuance of common stock, net of forfeitures (in Shares)			152,764	0
Issuance of common stock, net of forfeitures	3,680		$ 2	$ 0	3,678
Compensation expense for stock based awards	3,957				3,957
Repurchase of common stock (in Shares)			(1,530,592)	0
Repurchase of common stock	(66,643)		$ (16)	$ 0	(23,484)	(43,143)
Conversion of Common Stock, Shares Converted			10,000	(10,000)
Conversion of Common Stock, Amount Converted	0
Balance (in Shares) at Sep. 30, 2015		0	33,388,556	11,476,932
Balance at Sep. 30, 2015	1,835,399	$ 0	$ 334	$ 115	1,441	1,830,387	2,876	246
Balance (in Shares) at Jun. 30, 2015		0	33,724,471	11,486,932
Balance at Jun. 30, 2015	1,805,492	$ 0	$ 337	$ 115	0	1,801,457	3,283	300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interest	4							4
Net income	48,977					48,955		22
Other comprehensive income (loss)	(407)						(407)
Distribution to noncontrolling interest	(80)							(80)
Cash dividend on Class A and Class B common stock	(4,486)					(4,486)
Issuance of common stock, net of forfeitures (in Shares)			10,669	0
Issuance of common stock, net of forfeitures	268		$ 1	$ 0	267
Compensation expense for stock based awards	1,246				1,246
Repurchase of common stock (in Shares)			(356,584)	0
Repurchase of common stock	(15,615)		$ (4)	$ 0	(72)	(15,539)
Conversion of Common Stock, Shares Converted			10,000	(10,000)
Conversion of Common Stock, Amount Converted	0
Balance (in Shares) at Sep. 30, 2015		0	33,388,556	11,476,932
Balance at Sep. 30, 2015	$ 1,835,399	$ 0	$ 334	$ 115	$ 1,441	$ 1,830,387	$ 2,876	$ 246

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (unaudited) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Common Class A [Member]
Dividends paid per common share	$ 0.10	$ 0.10	$ 0.30	$ 0.30
Common Class B [Member]
Dividends paid per common share	$ 0.10	$ 0.10	$ 0.30	$ 0.30

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Net income attributable to Nelnet, Inc.	$ 184,629	$ 233,999
Net income attributable to noncontrolling interest	117	1,363
Net income	184,746	235,362
Adjustments to reconcile net income to net cash provided by operating activities, net of acquisitions:
Depreciation and amortization, including debt discounts and student loan premiums and deferred origination costs	91,045	78,318
Student loan discount accretion	(32,684)	(32,393)
Provision for loan losses	7,150	6,000
Derivative market value adjustment	43,179	431
Foreign currency transaction adjustment	(32,480)	(39,216)
Proceeds from termination of derivative instruments	55,627	0
Payment to enter into derivative instruments	(2,936)	(9,087)
Gain on sale of loans	(351)	0
Gain from debt repurchases	(4,636)	(57)
Gain from sales of available-for-sale securities, net	(2,370)	(8,319)
Payments for purchases of trading securities, net	(8,168)	(3,380)
Deferred income tax (benefit) expense	(7,901)	21,391
Non-cash compensation expense	4,120	3,364
Other	2,469	5,638
(Increase) decrease in accrued interest receivable	(435)	4,303
Increase in accounts receivable	(14,088)	(1,884)
Decrease in other assets	1,848	2,723
Increase in accrued interest payable	5,242	2,314
Increase (decrease) in other liabilities	17,978	(2,441)
Net cash provided by operating activities	307,355	263,067
Cash flows from investing activities, net of acquisitions:
Purchases of student loans and student loan residual interests	(1,994,416)	(3,211,328)
Net proceeds from student loan repayments, claims, capitalized interest, and other	2,843,119	2,721,886
Proceeds from sale of student loans	3,996	8
Purchases of available-for-sale securities	(6,939)	(143,695)
Proceeds from sales of available-for-sale securities	49,278	200,098
Purchases of investments and issuance of notes receivable	(65,548)	(35,454)
Proceeds from investments and notes receivable	27,773	11,006
Purchases of property and equipment, net	(12,756)	(21,691)
Decrease (increase) in restricted cash and investments, net	3,611	(32,720)
Business and asset acquisitions, net of cash acquired	0	(45,583)
Net cash provided by (used in) investing activities	848,118	(557,473)
Cash flows from financing activities net of borrowings assumed [Abstract]
Payments on bonds and notes payable	(3,483,804)	(3,013,378)
Proceeds from issuance of bonds and notes payable	2,401,993	3,362,227
Payments of debt issuance costs	(9,859)	(14,933)
Dividends paid	(13,659)	(13,914)
Repurchases of common stock	(66,643)	(13,337)
Proceeds from issuance of common stock	617	476
Issuance of noncontrolling interest	23	201
Distribution to noncontrolling interest	(124)	(1,624)
Net cash (used in) provided by financing activities	(1,171,456)	305,718
Net (decrease) increase in cash and cash equivalents	(15,983)	11,312
Cash and cash equivalents, beginning of period	130,481	63,267
Cash and cash equivalents, end of period	114,498	74,579
Cash disbursements made for:
Interest	165,885	155,962
Income taxes, net of refunds	104,403	118,866
Noncash activity:
Investing activity - student loans and other assets acquired	2,025,453	2,571,997
Financing activity - borrowings and other liabilities assumed in acquisition of student loans	$ 1,885,453	$ 2,444,874

Basis of Financial Reporting

Basis of Financial Reporting	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Reporting	Basis of Financial Reporting The accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the “Company”) as of September 30, 2015 and for the three and nine months ended September 30, 2015 and 2014 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2014 and, in the opinion of the Company’s management, the unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of results of operations for the interim periods presented. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Operating results for the three and nine months ended September 30, 2015 are not necessarily indicative of the results for the year ending December 31, 2015 . The unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (the " 2014 Annual Report"). Reclassifications Certain amounts previously reported within the Company's consolidated balance sheet and statements of income have been reclassified to conform to the current period presentation. These reclassifications include: • Reclassifying certain investments and notes receivable, which were previously included in "other assets" to "investments and notes receivable." • Reclassifying third-party loan servicing fees, which were previously included in "other" operating expenses to "loan servicing fees." The reclassifications had no effect on consolidated net income or consolidated assets and liabilities.

Student Loans Receivable and Al

Student Loans Receivable and Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Financing Receivables [Text Block]	Student Loans Receivable and Allowance for Loan Losses Student loans receivable consisted of the following: As of As of September 30, 2015 December 31, 2014 Federally insured loans Stafford and other $ 6,375,336 6,030,825 Consolidation 22,580,043 22,165,605 Total 28,955,379 28,196,430 Private education loans 232,824 27,478 29,188,203 28,223,908 Loan discount, net of unamortized loan premiums and deferred origination costs (a) (183,543 ) (169,813 ) Allowance for loan losses – federally insured loans (35,945 ) (39,170 ) Allowance for loan losses – private education loans (14,435 ) (9,730 ) $ 28,954,280 28,005,195 (a) As of September 30, 2015 and December 31, 2014 , "loan discount, net of unamortized loan premiums and deferred origination costs" included $35.4 million and $28.8 million , respectively, of non-accretable discount associated with purchased loans of $10.9 billion and $8.5 billion , respectively. Private Education Loans During the first quarter of 2015, the Company entered into an agreement with CommonBond, Inc. ("CommonBond"), a student lending company that provides private education loans to graduate students, under which the Company committed to purchase private education loans for a period of 18 months , with the total purchase obligation limited to $150.0 million . On August 17, 2015, the Company amended the agreement with CommonBond to increase the maximum purchase obligation to $200.0 million . As of September 30, 2015 , the Company had purchased $127.8 million in private education loans from CommonBond pursuant to this agreement. Acquisition of Student Loan Residual Interests On May 26, 2015, the Company acquired the ownership interest in a federally insured student loan securitization trust (the "May Trust"), giving the Company rights to the residual interest in $504.2 million of securitized federally insured loans. The trust includes loans funded to term with $448.9 million (par value) of bonds and notes payable. On August 3, 2015, the Company acquired the ownership interest in two federally insured student loan securitization trusts (the "August Trusts"), giving the Company rights to the residual interest in $1.5 billion of securitized federally insured loans. The two trusts include loans funded to term with $1.5 billion (par value) of bonds and notes payable. The Company has consolidated the May Trust and August Trusts on its consolidated balance sheet because management has determined the Company is the primary beneficiary of the trusts. Upon acquisition of the May Trust and August Trusts, the Company recorded all assets and liabilities of the trusts at fair value, resulting in the recognition of a student loan fair value discount of $20.7 million and $20.2 million , respectively, and a bonds and notes payable fair value premium of $2.2 million and a fair value discount of $86.7 million , respectively. The discounts/premium will be accreted/amortized using the effective interest method over the lives of the underlying assets and liabilities. All other assets acquired and liabilities assumed (restricted cash, accrued interest receivable/payable, and other assets/liabilities) were recorded at cost, which approximates fair value. Activity in the Allowance for Loan Losses The provision for loan losses represents the periodic expense of maintaining an allowance sufficient to absorb losses, net of recoveries, inherent in the portfolio of student loans. Activity in the allowance for loan losses is shown below. Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Balance at beginning of period $ 50,024 52,467 48,900 55,122 Provision for loan losses: Federally insured loans 2,000 2,000 6,000 7,000 Private education loans 1,000 — 1,150 (1,000 ) Total provision for loan losses 3,000 2,000 7,150 6,000 Charge-offs: Federally insured loans (2,817 ) (3,521 ) (9,225 ) (11,290 ) Private education loans (357 ) (623 ) (1,479 ) (1,642 ) Total charge-offs (3,174 ) (4,144 ) (10,704 ) (12,932 ) Recoveries - private education loans 250 279 742 989 Purchase (sale) of federally insured and private education loans, net 30 70 (200 ) 320 Transfer from repurchase obligation related to private education loans repurchased 250 1,296 4,492 2,469 Balance at end of period $ 50,380 51,968 50,380 51,968 Allocation of the allowance for loan losses: Federally insured loans $ 35,945 39,470 35,945 39,470 Private education loans 14,435 12,498 14,435 12,498 Total allowance for loan losses $ 50,380 51,968 50,380 51,968 Repurchase Obligation The Company has sold various portfolios of private education loans to third-parties. Per the terms of the servicing agreements, the Company’s servicing operations are obligated to repurchase loans subject to the sale agreements in the event such loans become 60 or 90 days delinquent. As of September 30, 2015 and December 31, 2014, the balance of loans subject to these repurchase obligations was $53.1 million and $155.3 million , respectively. The Company repurchased $94.1 million of private education loans during the first quarter of 2015. The Company's estimate related to its obligation to repurchase these loans is included in "other liabilities" in the Company's consolidated balance sheets and was $3.3 million and $11.8 million as of September 30, 2015 and December 31, 2014, respectively. Student Loan Status and Delinquencies Delinquencies have the potential to adversely impact the Company’s earnings through increased servicing and collection costs and account charge-offs. The table below shows the Company’s loan delinquency amounts. As of September 30, 2015 As of December 31, 2014 As of September 30, 2014 Federally insured loans: Loans in-school/grace/deferment $ 2,638,639 $ 2,805,228 $ 3,072,318 Loans in forbearance 2,993,844 3,288,412 3,505,103 Loans in repayment status: Loans current 19,681,517 84.4 % 18,460,279 83.5 % 18,672,178 83.8 % Loans delinquent 31-60 days 1,021,515 4.4 1,043,119 4.8 990,696 4.5 Loans delinquent 61-90 days 638,037 2.7 588,777 2.7 569,879 2.6 Loans delinquent 91-120 days 465,261 2.0 404,905 1.8 452,463 2.0 Loans delinquent 121-270 days 1,139,864 4.9 1,204,405 5.4 1,183,616 5.3 Loans delinquent 271 days or greater 376,702 1.6 401,305 1.8 405,346 1.8 Total loans in repayment 23,322,896 100.0 % 22,102,790 100.0 % 22,274,178 100.0 % Total federally insured loans $ 28,955,379 $ 28,196,430 $ 28,851,599 Private education loans: Loans in-school/grace/deferment $ 7,724 $ 905 $ 2,958 Loans in forbearance 16 — — Loans in repayment status: Loans current 216,502 96.2 % 18,390 69.2 % 65,560 87.8 % Loans delinquent 31-60 days 1,999 0.9 1,078 4.1 1,340 1.8 Loans delinquent 61-90 days 1,206 0.5 1,035 3.9 1,516 2.0 Loans delinquent 91 days or greater 5,377 2.4 6,070 22.8 6,249 8.4 Total loans in repayment 225,084 100.0 % 26,573 100.0 % 74,665 100.0 % Total non-federally insured loans $ 232,824 $ 27,478 $ 77,623

Bonds and Notes Payable

Bonds and Notes Payable	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Bonds and Notes Payable	Bonds and Notes Payable The following tables summarize the Company’s outstanding debt obligations by type of instrument: As of September 30, 2015 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in asset-backed securitizations: Bonds and notes based on indices $ 26,346,635 0.08% - 6.90% 8/26/19 - 8/26/52 Bonds and notes based on auction 1,161,515 1.11% - 2.13% 3/22/32 - 11/26/46 Total variable-rate bonds and notes 27,508,150 FFELP warehouse facilities 1,391,877 0.20% - 0.41% 12/17/17 - 7/9/18 Private education loan warehouse facility 170,081 0.42% 12/26/16 Unsecured line of credit 70,000 1.72% 6/30/19 Unsecured debt - Junior Subordinated Hybrid Securities 57,582 3.70% 9/15/61 Other borrowings 75,000 1.69% 10/31/16 29,272,690 Discount on bonds and notes payable (445,087 ) Total $ 28,827,603 As of December 31, 2014 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in asset-backed securitizations: Bonds and notes based on indices $ 25,713,431 0.19% - 6.90% 5/25/18 - 8/26/52 Bonds and notes based on auction 1,311,669 0.47% - 2.17% 3/22/32 - 11/26/46 Total variable-rate bonds and notes 27,025,100 FFELP warehouse facilities 1,241,665 0.16% - 0.26% 1/17/16 - 6/11/17 Unsecured line of credit — — 6/30/19 Unsecured debt - Junior Subordinated Hybrid Securities 71,688 3.63% 9/15/61 Other borrowings 81,969 1.67% - 5.10% 11/11/15 - 12/31/18 28,420,422 Discount on bonds and notes payable (393,072 ) Total $ 28,027,350 FFELP Warehouse Facilities The Company funds a portion of its FFELP loan acquisitions using its FFELP warehouse facilities. Student loan warehousing allows the Company to buy and manage student loans prior to transferring them into more permanent financing arrangements. As of September 30, 2015 , the Company had three FFELP warehouse facilities as summarized below. NHELP-II NHELP-III NFSLW-I (a) Total Maximum financing amount $ 500,000 750,000 875,000 2,125,000 Amount outstanding 446,624 395,631 549,622 1,391,877 Amount available $ 53,376 354,369 325,378 733,123 Expiration of liquidity provisions December 17, 2015 April 29, 2016 July 8, 2016 Final maturity date December 17, 2017 April 29, 2018 July 9, 2018 Maximum advance rates 91.0 - 97.0% 92.2 - 95.0% 92.0 - 98.0% Minimum advance rates 91.0 - 97.0% 92.2 - 95.0% 84.0 - 90.0% Advanced as equity support $ 24,538 22,427 26,124 73,089 (a) On July 10, 2015, the Company amended the agreement for this warehouse facility to temporarily increase the maximum financing amount to $875.0 million, extend the expiration of the liquidity provisions to July 8, 2016, and extend the maturity date to July 9, 2018. The maximum financing amount is scheduled to decrease by $125.0 million on March 31, 2016 . Asset-backed Securitizations The following table summarizes the asset-backed securitization transactions completed during the nine months ended September 30, 2015 . 2015-1 2015-2 2015-3 Total Class A-1 notes Class A-2 notes 2015-2 total Class A-1 notes Class A-2 notes Class A-3 notes 2015-3 total Date securities issued 2/27/15 3/26/15 3/26/15 3/26/15 5/21/15 5/21/15 5/21/15 5/21/15 Total original principal amount $ 566,346 122,500 584,500 722,000 82,500 270,000 41,400 401,400 $ 1,689,746 Class A senior notes: Total original principal amount $ 553,232 122,500 584,500 707,000 82,500 270,000 41,400 393,900 1,654,132 Bond discount — — — — — (380 ) (1,095 ) (1,475 ) (1,475 ) Issue price $ 553,232 122,500 584,500 707,000 82,500 269,620 40,305 392,425 1,652,657 Cost of funds (1-month LIBOR plus:) 0.59 % 0.27 % 0.60 % 0.30 % 0.60 % 0.90 % Final maturity date 4/25/41 3/25/20 9/25/42 1/27/25 2/26/46 6/25/49 Class B subordinated notes: Total original principal amount $ 13,114 15,000 7,500 35,614 Bond discount (1,157 ) (1,793 ) (968 ) (3,918 ) Issue price $ 11,957 13,207 6,532 31,696 Cost of funds (1-month LIBOR plus:) 1.50 % 1.50 % 1.50 % Final maturity date 6/25/46 5/25/49 6/27/50 Private Education Loan Warehouse Facility On June 26, 2015, the Company entered into a $275.0 million private education loan warehouse facility. As of September 30, 2015 , there was $170.1 million outstanding on the facility and $104.9 million was available for future use. The facility has a static advance rate that requires initial equity for loan funding, but does not require increased equity based on market movements. The maximum advance rate on the entire facility is 88 percent and minimum advance rates, depending on loan characteristics and program type, range from 64 percent to 99 percent . As of September 30, 2015 , $23.7 million was advanced on the facility as equity support. The facility is supported by liquidity provisions, which have a defined expiration date of June 24, 2016 . In the event the Company is unable to renew the liquidity provisions by such date, the facility would become a term facility at a stepped-up cost, with no additional student loans being eligible for financing, and the Company would be required to refinance the existing loans in the facility by the facility's final maturity date of December 26, 2016 . Unsecured Line of Credit On October 30, 2015, the Company entered into an amended and restated credit agreement for its $350.0 million line of credit. Under the amended terms, the maturity date of the credit agreement was extended from June 30, 2019 to October 30, 2020 . In addition, the following revisions were made to certain covenants: • A provision was added to permit acquisitions of businesses, for consideration of up to $75.0 million per fiscal year, that are not in one of the Company's existing lines of business. • The cap for other non-specified permitted investments increased to 20 percent of the Company's consolidated net worth, with the cap excluding all existing investments at the time of the amendment. • The current cap related to the volume of private education loans that the Company may hold was reduced from $900.0 million to a revised level of $500.0 million . All private education loans that are held within securitization vehicles are excluded from the $500.0 million threshold. • The minimum consolidated net worth threshold changed beginning as of September 30, 2015 to be not less than the sum of (i) $1.35 billion , plus, in each case for periods after September 30, 2015, (ii) 50 percent of consolidated net income; plus (iii) 100 percent of the increase to consolidated net worth from the issuance of capital stock. The facility size of $350.0 million and cost of funds did not change as part of the amendment. As of September 30, 2015 , the unsecured line of credit had an outstanding balance of $70.0 million and $280.0 million was available for future use. Debt Repurchases The following table summarizes the Company's repurchases of its own debt. Gains recorded by the Company from the repurchase of debt are included in "gain on sale of loans and debt repurchases" on the Company’s consolidated statements of income. Par value Purchase price Gain Par value Purchase price Gain Three months ended September 30, 2015 September 30, 2014 Unsecured debt - Hybrid Securities $ — — — — — — Asset-backed securities 9,650 9,053 597 2,500 2,500 — $ 9,650 9,053 597 2,500 2,500 — Nine months ended September 30, 2015 September 30, 2014 Unsecured debt - Hybrid Securities $ 14,106 11,108 2,998 — — — Asset-backed securities 31,800 30,162 1,638 4,000 3,943 57 $ 45,906 41,270 4,636 4,000 3,943 57

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The Company uses derivative financial instruments primarily to manage interest rate risk and foreign currency exchange risk. Derivative instruments used as part of the Company's risk management strategy are further described in note 5 of the notes to consolidated financial statements included in the 2014 Annual Report. A tabular presentation of such derivatives outstanding as of September 30, 2015 and December 31, 2014 is presented below. Basis Swaps The following table summarizes the Company’s basis swaps outstanding as of September 30, 2015 and December 31, 2014 in which the Company receives three-month LIBOR set discretely in advance and pays one-month LIBOR plus or minus a spread as defined in the agreements (the "1:3 Basis Swaps"). As of September 30, As of December 31, 2015 2014 Maturity Notional amount Notional amount 2016 $ 5,500,000 $ — 2021 — 250,000 2022 450,000 1,900,000 2023 1,050,000 3,650,000 2024 — 250,000 2026 200,000 800,000 2028 — 100,000 2036 — 700,000 2039 — 150,000 $ 7,200,000 $ 7,800,000 The weighted average rate paid by the Company on the 1:3 Basis Swaps as of September 30, 2015 and December 31, 2014 was one-month LIBOR plus 9.0 basis points and 3.5 basis points, respectively. Interest Rate Swaps – Floor Income Hedges The following table summarizes the outstanding derivative instruments used by the Company to economically hedge loans earning fixed rate floor income. As of September 30, 2015 As of December 31, 2014 Maturity Notional amount Weighted average fixed rate paid by the Company (a) Notional amount Weighted average fixed rate paid by the Company (a) 2015 $ — — % $ 1,100,000 0.89 % 2016 1,000,000 0.76 750,000 0.85 2017 2,100,000 0.84 1,250,000 0.86 2018 1,350,000 1.11 — — 2025 100,000 2.32 — — $ 4,550,000 0.93 % $ 3,100,000 0.87 % (a) For all interest rate derivatives, the Company receives discrete three-month LIBOR. On August 20, 2014, the Company paid $9.1 million for an interest rate swap option to economically hedge loans earning fixed rate floor income. The interest rate swap option gives the Company the right, but not the obligation, to enter into a $250 million notional interest rate swap in which the Company would pay a fixed amount of 3.30% and receive discrete one-month LIBOR. If the interest rate swap option is exercised, the swap would become effective in 2019 and mature in 2024. Interest Rate Swaps – Unsecured Debt Hedges The Company had the following derivatives outstanding as of September 30, 2015 and December 31, 2014 that are used to effectively convert the variable interest rate on a portion of the Junior Subordinated Hybrid Securities to a fixed rate of 7.66% . Maturity Notional amount Weighted average fixed rate paid by the Company (a) 2036 $ 25,000 4.28 % (a) For all interest rate derivatives, the Company receives discrete three-month LIBOR. Interest Rate Caps In June 2015, in conjunction with the entry into the $275.0 million private education loan warehouse facility, the Company paid $2.9 million for two interest rate cap contracts with a total notional amount of $275.0 million . The first interest rate cap has a notional amount of $125.0 million and a one-month LIBOR strike rate of 2.50% , and the second interest rate cap has a notional amount of $150.0 million and a one-month LIBOR strike rate of 4.99% . In the event that the one-month LIBOR rate rises above the applicable strike rate, the Company would receive monthly payments related to the spread difference. Both interest rate cap contracts have a maturity date of July 15, 2020. Foreign Currency Exchange Risk In 2006, the Company issued €352.7 million of student loan asset-backed Euro Notes (the "Euro Notes") with an interest rate based on a spread to the EURIBOR index. As a result of the Euro Notes, the Company is exposed to market risk related to fluctuations in foreign currency exchange rates between the U.S. dollar and Euro. The principal and accrued interest on these notes are re-measured at each reporting period and recorded in the Company’s consolidated balance sheet in U.S. dollars based on the foreign currency exchange rate on that date. The Company entered into a cross-currency interest rate swap in connection with the issuance of the Euro Notes. Under the terms of the cross-currency interest rate swap, the Company receives from the counterparty a spread to the EURIBOR index based on a notional amount of €352.7 million and pays a spread to the LIBOR index based on a notional amount of $450.0 million . In addition, under the terms of this agreement, all principal payments on the Euro Notes will effectively be paid at the exchange rate in effect between the U.S. dollar and Euro as of the issuance of the notes. The following table shows the income statement impact as a result of the re-measurement of the Euro Notes and the change in the fair value of the related derivative instrument. Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Re-measurement of Euro Notes $ (1,058 ) 37,418 32,480 39,216 Change in fair value of cross-currency interest rate swap 666 (37,224 ) (35,207 ) (40,261 ) Total impact to consolidated statements of income - (expense) income (a) $ (392 ) 194 (2,727 ) (1,045 ) (a) The financial statement impact of the above items is included in "Derivative market value and foreign currency adjustments and derivative settlements, net" in the Company's consolidated statements of income. The re-measurement of the Euro-denominated bonds generally correlates with the change in fair value of the corresponding cross-currency interest rate swap. However, the Company will experience unrealized gains or losses related to the cross-currency interest rate swap if the two underlying indices (and related forward curve) do not move in parallel. Consolidated Financial Statement Impact Related to Derivatives The following table summarizes the fair value of the Company’s derivatives as reflected in the consolidated balance sheets: Fair value of asset derivatives Fair value of liability derivatives As of As of As of As of September 30, December 31, September 30, December 31, 1:3 basis swaps $ 8,477 53,549 44 — Interest rate swaps - floor income hedges — 5,165 16,142 5,034 Interest rate swap option - floor income hedge 3,943 5,678 — — Interest rate swaps - hybrid debt hedges — — 8,212 7,353 Interest rate caps 1,796 — — — Cross-currency interest rate swap — — 55,663 20,455 Other 1,525 — — — Total $ 15,741 64,392 80,061 32,842 During the nine months ended September 30, 2015 , the Company terminated a total notional amount of $6.1 billion of 1:3 Basis Swaps for gross proceeds of $55.6 million . There were no derivative terminations during the first nine months of 2014. Offsetting of Derivative Assets/Liabilities The Company records derivative instruments in the consolidated balance sheets on a gross basis as either an asset or liability measured at its fair value. Certain of the Company's derivative instruments are subject to right of offset provisions with counterparties. The following tables include the gross amounts related to the Company's derivative portfolio recognized in the consolidated balance sheets, reconciled to the net amount when excluding derivatives subject to enforceable master netting arrangements and cash collateral received/pledged: Gross amounts not offset in the consolidated balance sheets Derivative assets Gross amounts of recognized assets presented in the consolidated balance sheets Derivatives subject to enforceable master netting arrangement Cash collateral pledged (received) Net asset (liability) Balance as of September 30, 2015 $ 15,741 (8,620 ) — 7,121 Balance as of December 31, 2014 64,392 (12,387 ) — 52,005 Gross amounts not offset in the consolidated balance sheets Derivative liabilities Gross amounts of recognized liabilities presented in the consolidated balance sheets Derivatives subject to enforceable master netting arrangement Cash collateral pledged (received) Net asset (liability) Balance as of September 30, 2015 $ (80,061 ) 8,620 37,274 (34,167 ) Balance as of December 31, 2014 (32,842 ) 12,387 (1,454 ) (21,909 ) The following table summarizes the effect of derivative instruments in the consolidated statements of income. Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Settlements: 1:3 basis swaps $ 179 808 568 2,547 Interest rate swaps - floor income hedges (5,456 ) (5,421 ) (15,490 ) (19,345 ) Interest rate swaps - hybrid debt hedges (255 ) (259 ) (760 ) (767 ) Cross-currency interest rate swap (346 ) 38 (853 ) 288 Total settlements - expense (5,878 ) (4,834 ) (16,535 ) (17,277 ) Change in fair value: 1:3 basis swaps (1,886 ) 19,455 10,513 32,475 Interest rate swaps - floor income hedges (18,935 ) 10,628 (16,273 ) 11,173 Interest rate swap option - floor income hedge (2,205 ) (847 ) (1,736 ) (847 ) Interest rate swaps - hybrid debt hedges (1,948 ) (393 ) (861 ) (2,971 ) Interest rate caps (939 ) — (1,140 ) — Cross-currency interest rate swap 666 (37,224 ) (35,207 ) (40,261 ) Other 1,525 — 1,525 — Total change in fair value - expense (23,722 ) (8,381 ) (43,179 ) (431 ) Re-measurement of Euro Notes (foreign currency transaction adjustment) - (expense) income (1,058 ) 37,418 32,480 39,216 Derivative market value and foreign currency adjustments and derivative settlements, net - (expense) income $ (30,658 ) 24,203 (27,234 ) 21,508

Investments and Notes Receivabl

Investments and Notes Receivable	9 Months Ended
	Sep. 30, 2015
Investments [Abstract]
Investments	Investments and Notes Receivable A summary of the Company's investments and notes receivable follows: As of September 30, 2015 As of December 31, 2014 Amortized cost Gross unrealized gains Gross unrealized losses (a) Fair value Amortized cost Gross unrealized gains Gross unrealized losses Fair value Investments (at fair value): Available-for-sale investments: Student loan asset-backed and other debt securities (b) $ 92,327 3,797 (712 ) 95,412 131,589 6,204 (236 ) 137,557 Equity securities 846 1,579 (100 ) 2,325 1,553 2,216 (33 ) 3,736 Total available-for-sale investments $ 93,173 5,376 (812 ) 97,737 133,142 8,420 (269 ) 141,293 Trading investments: Student loan asset-backed securities 6,146 7,830 Equity securities 9,852 — Total trading investments 15,998 7,830 Total available-for-sale and trading investments 113,735 149,123 Other Investments and Notes Receivable (not measured at fair value): Investments accounted for under the cost and equity methods 80,372 36,991 Notes receivable 30,964 30,643 Other 10,939 18,952 Total investments and notes receivable $ 236,010 235,709 (a) As of September 30, 2015 , the Company considered the decline in market value of its available-for-sale investments to be temporary in nature and did not consider any of its investments other-than-temporarily impaired. (b) As of September 30, 2015 , the stated maturities of the majority of the Company's student loan asset-backed and other debt securities classified as available-for-sale were greater than 10 years.

Intangible Assets Intangible As

Intangible Assets Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Disclosure [Text Block]	Intangible Assets and Goodwill Intangible assets consist of the following: Weighted average remaining useful life as of September 30, 2015 (months) As of September 30, 2015 As of December 31, 2014 Amortizable intangible assets: Customer relationships (net of accumulated amortization of $21,736 and $17,361, respectively) 217 $ 22,954 27,330 Trade names (net of accumulated amortization of $664 and $272, respectively) 224 5,758 6,150 Computer software (net of accumulated amortization of $3,624 and $1,896, respectively) 35 5,242 6,969 Content (net of accumulated amortization of $675 and $0, respectively) 15 1,125 1,800 Covenants not to compete (net of accumulated amortization of $47 and $21, respectively) 104 307 333 Total - amortizable intangible assets 184 $ 35,386 42,582 The Company recorded amortization expense on its intangible assets of $2.4 million and $2.0 million during the three months ended September 30, 2015 and 2014 , respectively, and $7.2 million and $4.4 million during the nine months ended September 30, 2015 and 2014 , respectively. The Company will continue to amortize intangible assets over their remaining useful lives. As of September 30, 2015 , the Company estimates it will record amortization expense as follows: 2015 (October 1 - December 31) $ 2,399 2016 6,249 2017 3,752 2018 3,533 2019 2,861 2020 and thereafter 16,592 $ 35,386 There were no changes in the carrying amount of goodwill during the nine months ended September 30, 2015 . The carrying amount of goodwill by reportable operating segment as of September 30, 2015 and December 31, 2014 is shown in the table below. Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other Activities Total Balance as of December 31, 2014 and September 30, 2015 $ 8,596 67,168 41,883 8,553 126,200

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings per Common Share Presented below is a summary of the components used to calculate basic and diluted earnings per share. The Company applies the two-class method in computing both basic and diluted earnings per share, which requires the calculation of separate earnings per share amounts for common stock and unvested share based awards. Unvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock. Three months ended September 30, 2015 2014 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 48,436 519 48,955 84,330 889 85,219 Denominator: Weighted-average common shares outstanding - basic and diluted 44,570,519 477,258 45,047,777 45,948,255 484,425 46,432,680 Earnings per share - basic and diluted $ 1.09 1.09 1.09 1.84 1.84 1.84 Nine months ended September 30, 2015 2014 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 182,664 1,965 184,629 231,725 2,274 233,999 Denominator: Weighted-average common shares outstanding - basic and diluted 45,276,376 487,067 45,763,443 46,044,429 451,880 46,496,309 Earnings per share - basic and diluted $ 4.03 4.03 4.03 5.03 5.03 5.03 Unvested restricted stock awards are the Company's only potential common shares and, accordingly, there were no awards that were antidilutive and not included in average shares outstanding for the diluted earnings per share calculation.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting See note 14 of the notes to consolidated financial statements included in the 2014 Annual Report for a description of the Company's operating segments. The following tables include the results of each of the Company's operating segments reconciled to the consolidated financial statements. Effective January 1, 2015, internal reporting to executive management (the "chief operating decision maker") changed to reflect operational changes made within the organization. The operational and internal reporting changes included moving the majority of information technology infrastructure personnel and related functions to Corporate and Other Activities. The associated costs are allocated to the other operating segments based on those segments' actual use of information technology related products and services. Information technology infrastructure personnel and related functions were historically included within the Student Loan and Guaranty Servicing operating segment, and associated costs were allocated to the other operating segments based on those segments' actual use of the related products and services. Prior period segment operating results have been reclassified to reflect these changes; however, the reclassifications had no effect on any operating segment's net income. Three months ended September 30, 2015 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other Activities Eliminations Total Total interest income $ 14 — 188,197 1,385 (439 ) 189,157 Interest expense — — 76,040 1,563 (439 ) 77,164 Net interest income 14 — 112,157 (178 ) — 111,993 Less provision for loan losses — — 3,000 — — 3,000 Net interest income after provision for loan losses 14 — 109,157 (178 ) — 108,993 Other income: Loan and guaranty servicing revenue 61,900 — — — (380 ) 61,520 Intersegment servicing revenue 12,027 — — — (12,027 ) — Tuition payment processing, school information, and campus commerce revenue — 30,439 — — — 30,439 Enrollment services revenue — — — 19,500 — 19,500 Other income — — 3,312 3,211 — 6,523 Gain on sale of loans and debt repurchases — — 608 (11 ) — 597 Derivative market value and foreign currency adjustments, net — — (24,357 ) (423 ) — (24,780 ) Derivative settlements, net — — (5,623 ) (255 ) — (5,878 ) Total other income 73,927 30,439 (26,060 ) 22,022 (12,407 ) 87,921 Operating expenses: Salaries and benefits 34,525 13,983 558 14,149 — 63,215 Cost to provide enrollment services — — — 12,534 — 12,534 Loan servicing fees — — 7,793 — — 7,793 Depreciation and amortization 484 2,202 — 4,291 — 6,977 Other 14,602 3,579 1,421 10,817 — 30,419 Intersegment expenses, net 10,886 2,872 12,578 (13,929 ) (12,407 ) — Total operating expenses 60,497 22,636 22,350 27,862 (12,407 ) 120,938 Income (loss) before income taxes and corporate overhead allocation 13,444 7,803 60,747 (6,018 ) — 75,976 Corporate overhead allocation (2,351 ) (941 ) (1,176 ) 4,468 — — Income (loss) before income taxes 11,093 6,862 59,571 (1,550 ) — 75,976 Income tax (expense) benefit (4,215 ) (2,606 ) (22,639 ) 2,461 — (26,999 ) Net income 6,878 4,256 36,932 911 — 48,977 Net (loss) income attributable to noncontrolling interest (5 ) — — 27 — 22 Net income attributable to Nelnet, Inc. $ 6,883 4,256 36,932 884 — 48,955 Three months ended September 30, 2014 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other Eliminations Total Total interest income $ 5 2 187,949 1,814 (346 ) 189,424 Interest expense — — 71,037 1,246 (346 ) 71,937 Net interest income 5 2 116,912 568 — 117,487 Less provision for loan losses — — 2,000 — — 2,000 Net interest income after provision for loan losses 5 2 114,912 568 — 115,487 Other income: Loan and guaranty servicing revenue 52,659 — — — — 52,659 Intersegment servicing revenue 13,432 — — — (13,432 ) — Tuition payment processing, school information, and campus commerce revenue — 26,399 — — — 26,399 Enrollment services revenue — — — 22,936 — 22,936 Other income — — 4,294 3,356 — 7,650 Gain on sale of loans and debt repurchases — — — — — — Derivative market value and foreign currency adjustments, net — — 29,430 (393 ) — 29,037 Derivative settlements, net — — (4,575 ) (259 ) — (4,834 ) Total other income 66,091 26,399 29,149 25,640 (13,432 ) 133,847 Operating expenses: Salaries and benefits 33,627 13,288 565 13,618 — 61,098 Cost to provide enrollment services — — — 14,178 — 14,178 Loan servicing fees — — 7,077 — — 7,077 Depreciation and amortization 441 2,396 — 2,656 — 5,493 Other 12,643 3,312 1,559 12,085 — 29,599 Intersegment expenses, net 8,843 1,481 13,611 (10,503 ) (13,432 ) — Total operating expenses 55,554 20,477 22,812 32,034 (13,432 ) 117,445 Income (loss) before income taxes and corporate overhead allocation 10,542 5,924 121,249 (5,826 ) — 131,889 Corporate overhead allocation (2,567 ) (856 ) (1,026 ) 4,449 — — Income (loss) before income taxes 7,975 5,068 120,223 (1,377 ) — 131,889 Income tax (expense) benefit (3,030 ) (1,926 ) (45,684 ) 4,127 — (46,513 ) Net income 4,945 3,142 74,539 2,750 — 85,376 Net income attributable to noncontrolling interest — — — 157 — 157 Net income attributable to Nelnet, Inc. $ 4,945 3,142 74,539 2,593 — 85,219 Nine months ended September 30, 2015 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other Eliminations Total Total interest income $ 34 3 536,899 5,352 (1,260 ) 541,028 Interest expense — — 218,021 4,583 (1,260 ) 221,344 Net interest income 34 3 318,878 769 — 319,684 Less provision for loan losses — — 7,150 — — 7,150 Net interest income after provision for loan losses 34 3 311,728 769 — 312,534 Other income: Loan and guaranty servicing revenue 183,544 — — — (380 ) 183,164 Intersegment servicing revenue 37,121 — — — (37,121 ) — Tuition payment processing, school information, and campus commerce revenue — 92,805 — — — 92,805 Enrollment services revenue — — — 54,524 — 54,524 Other income — — 11,838 9,107 — 20,945 Gain on sale of loans and debt repurchases — — 2,000 2,987 — 4,987 Derivative market value and foreign currency adjustments, net — — (11,363 ) 664 — (10,699 ) Derivative settlements, net — — (15,775 ) (760 ) — (16,535 ) Total other income 220,665 92,805 (13,300 ) 66,522 (37,501 ) 329,191 Operating expenses: Salaries and benefits 99,813 40,887 1,623 40,729 — 183,052 Cost to provide enrollment services — — — 35,398 — 35,398 Loan servicing fees — — 22,829 — — 22,829 Depreciation and amortization 1,457 6,592 — 11,091 — 19,140 Other 44,578 11,493 3,828 31,676 — 91,575 Intersegment expenses, net 32,152 8,271 38,016 (40,938 ) (37,501 ) — Total operating expenses 178,000 67,243 66,296 77,956 (37,501 ) 351,994 Income (loss) before income taxes and corporate overhead allocation 42,699 25,565 232,132 (10,665 ) — 289,731 Corporate overhead allocation (6,798 ) (2,721 ) (3,401 ) 12,920 — — Income before income taxes 35,901 22,844 228,731 2,255 — 289,731 Income tax (expense) benefit (13,643 ) (8,680 ) (86,919 ) 4,257 — (104,985 ) Net income 22,258 14,164 141,812 6,512 — 184,746 Net (loss) income attributable to noncontrolling interest (5 ) — — 122 — 117 Net income attributable to Nelnet, Inc. $ 22,263 14,164 141,812 6,390 — 184,629 Nine months ended September 30, 2014 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other Eliminations Total Total interest income $ 25 5 520,514 6,508 (1,805 ) 525,247 Interest expense — — 198,449 4,532 (1,805 ) 201,176 Net interest income 25 5 322,065 1,976 — 324,071 Less provision for loan losses — — 6,000 — — 6,000 Net interest income after provision for loan losses 25 5 316,065 1,976 — 318,071 Other income: Loan and guaranty servicing revenue 183,876 — — — — 183,876 Intersegment servicing revenue 41,453 — — — (41,453 ) — Tuition payment processing, school information, and campus commerce revenue — 73,468 — — — 73,468 Enrollment services revenue — — — 65,092 — 65,092 Other income — — 12,954 28,142 — 41,096 Gain on sale of loans and debt repurchases — — 57 — — 57 Derivative market value and foreign currency adjustments, net — — 41,755 (2,970 ) — 38,785 Derivative settlements, net — — (16,510 ) (767 ) — (17,277 ) Total other income 225,329 73,468 38,256 89,497 (41,453 ) 385,097 Operating expenses: Salaries and benefits 93,107 34,427 1,744 38,192 — 167,470 Cost to provide enrollment services — — — 41,964 — 41,964 Loan servicing fees — — 19,798 — — 19,798 Depreciation and amortization 1,298 5,669 — 8,523 — 15,490 Other 45,269 8,915 4,829 33,869 — 92,882 Intersegment expenses, net 27,362 4,305 41,950 (32,164 ) (41,453 ) — Total operating expenses 167,036 53,316 68,321 90,384 (41,453 ) 337,604 Income before income taxes and corporate overhead allocation 58,318 20,157 286,000 1,089 — 365,564 Corporate overhead allocation (6,487 ) (2,163 ) (3,604 ) 12,254 — — Income before income taxes 51,831 17,994 282,396 13,343 — 365,564 Income tax (expense) benefit (19,695 ) (6,837 ) (107,309 ) 3,639 — (130,202 ) Net income 32,136 11,157 175,087 16,982 — 235,362 Net income attributable to noncontrolling interest — — — 1,363 — 1,363 Net income attributable to Nelnet, Inc. $ 32,136 11,157 175,087 15,619 — 233,999

Major Customer

Major Customer	9 Months Ended
	Sep. 30, 2015
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	Major Customer The Company earns loan servicing revenue from a servicing contract with the U.S. Department of Education that currently expires on June 16, 2019. Revenue earned by the Company's Student Loan and Guaranty Servicing operating segment related to this contract was $33.2 million and $31.2 million for the three months ended September 30, 2015 and 2014 , respectively, and $99.3 million and $92.1 million for the nine months ended September 30, 2015 and 2014 , respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Parties The Company has entered into certain contractual arrangements with related parties as described in note 20 of the notes to consolidated financial statements included in the 2014 Annual Report. The following provides an update for related party transactions that occurred during the first nine months of 2015 . On December 22, 2014, the Company entered into an agreement with Union Bank and Trust Company ("Union Bank") in which the Company provides marketing, origination, and loan servicing services to Union Bank related to private education loans. The Company is committed to purchase, or arrange for a designee to purchase, all volume originated by Union Bank under this agreement. During the third quarter of 2015, the Company purchased $0.4 million (par value) of private education loans from Union Bank, pursuant to this agreement. As of September 30, 2015, the balance of private education loans held by Union Bank pursuant to this agreement was $8.5 million . On March 17, 2015, the Company made a $40.5 million equity investment in Agile Sports Technologies, Inc. (doing business as "Hudl"). David Graff, who has served on the Company's Board of Directors since May 2014, is CEO, co-founder, and a director of Hudl. Prior to the 2015 investment, the Company and Michael Dunlap, the Company's Executive Chairman and a principal shareholder, made separate equity investments in Hudl. Subsequent to the Company's March 2015 investment, the Company and Mr. Dunlap hold combined direct and indirect equity ownership interests in Hudl of 18.7% and 2.8% , respectively. The Company's and Mr. Dunlap's direct and indirect equity ownership interests in Hudl consist of preferred stock with certain liquidation preferences that are considered substantive. Accordingly, for accounting purposes, the Company's and Mr. Dunlap's equity ownership interests are not considered in-substance common stock and the Company is accounting for its equity investment in Hudl under the cost method. The Company's investment in Hudl is included in "investments and notes receivable" in the Company's consolidated balance sheet. On January 1, 2014, the Company subparticipated the Company's participation interest in a loan receivable from an unrelated third party to Union Bank. On May 22, 2015, the Company paid Union Bank $3.1 million to pay off the outstanding loan balance and terminated the subparticipation agreement.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value	Fair Value The following tables present the Company’s financial assets and liabilities that are measured at fair value on a recurring basis. There were no transfers into or out of level 1, level 2, or level 3 for the nine months ended September 30, 2015 . As of September 30, 2015 As of December 31, 2014 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Investments (available-for-sale and trading): Student loan asset-backed securities $ — 101,237 101,237 — 145,000 145,000 Equity securities 12,177 — 12,177 3,736 — 3,736 Debt securities 321 — 321 387 — 387 Total investments (available-for-sale and trading) 12,498 101,237 113,735 4,123 145,000 149,123 Fair value of derivative instruments — 15,741 15,741 — 64,392 64,392 Total assets $ 12,498 116,978 129,476 4,123 209,392 213,515 Liabilities: Fair value of derivative instruments $ — 80,061 80,061 — 32,842 32,842 Total liabilities $ — 80,061 80,061 — 32,842 32,842 The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets: As of September 30, 2015 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 29,390,728 28,954,280 — — 29,390,728 Cash and cash equivalents 114,498 114,498 114,498 — — Investments (available-for-sale and trading) 113,735 113,735 12,498 101,237 — Notes receivable 28,616 30,964 — 28,616 — Restricted cash 886,974 886,974 886,974 — — Restricted cash – due to customers 100,089 100,089 100,089 — — Restricted investments 8,297 8,297 8,297 — — Accrued interest receivable 380,441 380,441 — 380,441 — Derivative instruments 15,741 15,741 — 15,741 — Financial liabilities: Bonds and notes payable 28,103,296 28,827,603 — 28,103,296 — Accrued interest payable 31,632 31,632 — 31,632 — Due to customers 100,089 100,089 100,089 — — Derivative instruments 80,061 80,061 — 80,061 — As of December 31, 2014 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 28,954,226 28,005,195 — — 28,954,226 Cash and cash equivalents 130,481 130,481 130,481 — — Investments (available-for-sale and trading) 149,123 149,123 4,123 145,000 — Notes receivable 28,832 30,643 — 28,832 — Restricted cash 800,164 800,164 800,164 — — Restricted cash – due to customers 118,488 118,488 118,488 — — Restricted investments 50,276 50,276 50,276 — — Accrued interest receivable 351,588 351,588 — 351,588 — Derivative instruments 64,392 64,392 — 64,392 — Financial liabilities: Bonds and notes payable 27,809,997 28,027,350 — 27,809,997 — Accrued interest payable 25,904 25,904 — 25,904 — Due to customers 118,488 118,488 118,488 — — Derivative instruments 32,842 32,842 — 32,842 — The methodologies for estimating the fair value of financial assets and liabilities are described in note 21 of the notes to consolidated financial statements included in the 2014 Annual Report.

Basis of Financial Reporting Si

Basis of Financial Reporting Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Reporting	Basis of Financial Reporting The accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the “Company”) as of September 30, 2015 and for the three and nine months ended September 30, 2015 and 2014 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2014 and, in the opinion of the Company’s management, the unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of results of operations for the interim periods presented. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Operating results for the three and nine months ended September 30, 2015 are not necessarily indicative of the results for the year ending December 31, 2015 . The unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (the " 2014 Annual Report").

Student Loans Receivable and 21

Student Loans Receivable and Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Student loans receivable consisted of the following: As of As of September 30, 2015 December 31, 2014 Federally insured loans Stafford and other $ 6,375,336 6,030,825 Consolidation 22,580,043 22,165,605 Total 28,955,379 28,196,430 Private education loans 232,824 27,478 29,188,203 28,223,908 Loan discount, net of unamortized loan premiums and deferred origination costs (a) (183,543 ) (169,813 ) Allowance for loan losses – federally insured loans (35,945 ) (39,170 ) Allowance for loan losses – private education loans (14,435 ) (9,730 ) $ 28,954,280 28,005,195 (a) As of September 30, 2015 and December 31, 2014 , "loan discount, net of unamortized loan premiums and deferred origination costs" included $35.4 million and $28.8 million , respectively, of non-accretable discount associated with purchased loans of $10.9 billion and $8.5 billion , respectively.
Allowance for Credit Losses on Financing Receivables	Activity in the Allowance for Loan Losses The provision for loan losses represents the periodic expense of maintaining an allowance sufficient to absorb losses, net of recoveries, inherent in the portfolio of student loans. Activity in the allowance for loan losses is shown below. Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Balance at beginning of period $ 50,024 52,467 48,900 55,122 Provision for loan losses: Federally insured loans 2,000 2,000 6,000 7,000 Private education loans 1,000 — 1,150 (1,000 ) Total provision for loan losses 3,000 2,000 7,150 6,000 Charge-offs: Federally insured loans (2,817 ) (3,521 ) (9,225 ) (11,290 ) Private education loans (357 ) (623 ) (1,479 ) (1,642 ) Total charge-offs (3,174 ) (4,144 ) (10,704 ) (12,932 ) Recoveries - private education loans 250 279 742 989 Purchase (sale) of federally insured and private education loans, net 30 70 (200 ) 320 Transfer from repurchase obligation related to private education loans repurchased 250 1,296 4,492 2,469 Balance at end of period $ 50,380 51,968 50,380 51,968 Allocation of the allowance for loan losses: Federally insured loans $ 35,945 39,470 35,945 39,470 Private education loans 14,435 12,498 14,435 12,498 Total allowance for loan losses $ 50,380 51,968 50,380 51,968
Financing Receivable Credit Quality Indicators	Student Loan Status and Delinquencies Delinquencies have the potential to adversely impact the Company’s earnings through increased servicing and collection costs and account charge-offs. The table below shows the Company’s loan delinquency amounts. As of September 30, 2015 As of December 31, 2014 As of September 30, 2014 Federally insured loans: Loans in-school/grace/deferment $ 2,638,639 $ 2,805,228 $ 3,072,318 Loans in forbearance 2,993,844 3,288,412 3,505,103 Loans in repayment status: Loans current 19,681,517 84.4 % 18,460,279 83.5 % 18,672,178 83.8 % Loans delinquent 31-60 days 1,021,515 4.4 1,043,119 4.8 990,696 4.5 Loans delinquent 61-90 days 638,037 2.7 588,777 2.7 569,879 2.6 Loans delinquent 91-120 days 465,261 2.0 404,905 1.8 452,463 2.0 Loans delinquent 121-270 days 1,139,864 4.9 1,204,405 5.4 1,183,616 5.3 Loans delinquent 271 days or greater 376,702 1.6 401,305 1.8 405,346 1.8 Total loans in repayment 23,322,896 100.0 % 22,102,790 100.0 % 22,274,178 100.0 % Total federally insured loans $ 28,955,379 $ 28,196,430 $ 28,851,599 Private education loans: Loans in-school/grace/deferment $ 7,724 $ 905 $ 2,958 Loans in forbearance 16 — — Loans in repayment status: Loans current 216,502 96.2 % 18,390 69.2 % 65,560 87.8 % Loans delinquent 31-60 days 1,999 0.9 1,078 4.1 1,340 1.8 Loans delinquent 61-90 days 1,206 0.5 1,035 3.9 1,516 2.0 Loans delinquent 91 days or greater 5,377 2.4 6,070 22.8 6,249 8.4 Total loans in repayment 225,084 100.0 % 26,573 100.0 % 74,665 100.0 % Total non-federally insured loans $ 232,824 $ 27,478 $ 77,623

Bonds and Notes payable (Tables

Bonds and Notes payable (Tables)	9 Months Ended
	Sep. 30, 2015
Bonds and Notes Payable [Abstract]
Schedule of Debt	The following tables summarize the Company’s outstanding debt obligations by type of instrument: As of September 30, 2015 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in asset-backed securitizations: Bonds and notes based on indices $ 26,346,635 0.08% - 6.90% 8/26/19 - 8/26/52 Bonds and notes based on auction 1,161,515 1.11% - 2.13% 3/22/32 - 11/26/46 Total variable-rate bonds and notes 27,508,150 FFELP warehouse facilities 1,391,877 0.20% - 0.41% 12/17/17 - 7/9/18 Private education loan warehouse facility 170,081 0.42% 12/26/16 Unsecured line of credit 70,000 1.72% 6/30/19 Unsecured debt - Junior Subordinated Hybrid Securities 57,582 3.70% 9/15/61 Other borrowings 75,000 1.69% 10/31/16 29,272,690 Discount on bonds and notes payable (445,087 ) Total $ 28,827,603 As of December 31, 2014 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in asset-backed securitizations: Bonds and notes based on indices $ 25,713,431 0.19% - 6.90% 5/25/18 - 8/26/52 Bonds and notes based on auction 1,311,669 0.47% - 2.17% 3/22/32 - 11/26/46 Total variable-rate bonds and notes 27,025,100 FFELP warehouse facilities 1,241,665 0.16% - 0.26% 1/17/16 - 6/11/17 Unsecured line of credit — — 6/30/19 Unsecured debt - Junior Subordinated Hybrid Securities 71,688 3.63% 9/15/61 Other borrowings 81,969 1.67% - 5.10% 11/11/15 - 12/31/18 28,420,422 Discount on bonds and notes payable (393,072 ) Total $ 28,027,350
Schedule of Line of Credit Facilities	FFELP Warehouse Facilities The Company funds a portion of its FFELP loan acquisitions using its FFELP warehouse facilities. Student loan warehousing allows the Company to buy and manage student loans prior to transferring them into more permanent financing arrangements. As of September 30, 2015 , the Company had three FFELP warehouse facilities as summarized below. NHELP-II NHELP-III NFSLW-I (a) Total Maximum financing amount $ 500,000 750,000 875,000 2,125,000 Amount outstanding 446,624 395,631 549,622 1,391,877 Amount available $ 53,376 354,369 325,378 733,123 Expiration of liquidity provisions December 17, 2015 April 29, 2016 July 8, 2016 Final maturity date December 17, 2017 April 29, 2018 July 9, 2018 Maximum advance rates 91.0 - 97.0% 92.2 - 95.0% 92.0 - 98.0% Minimum advance rates 91.0 - 97.0% 92.2 - 95.0% 84.0 - 90.0% Advanced as equity support $ 24,538 22,427 26,124 73,089 (a) On July 10, 2015, the Company amended the agreement for this warehouse facility to temporarily increase the maximum financing amount to $875.0 million, extend the expiration of the liquidity provisions to July 8, 2016, and extend the maturity date to July 9, 2018. The maximum financing amount is scheduled to decrease by $125.0 million on March 31, 2016 .
Schedule of asset-backed securitizations [Table Text Block]	Asset-backed Securitizations The following table summarizes the asset-backed securitization transactions completed during the nine months ended September 30, 2015 . 2015-1 2015-2 2015-3 Total Class A-1 notes Class A-2 notes 2015-2 total Class A-1 notes Class A-2 notes Class A-3 notes 2015-3 total Date securities issued 2/27/15 3/26/15 3/26/15 3/26/15 5/21/15 5/21/15 5/21/15 5/21/15 Total original principal amount $ 566,346 122,500 584,500 722,000 82,500 270,000 41,400 401,400 $ 1,689,746 Class A senior notes: Total original principal amount $ 553,232 122,500 584,500 707,000 82,500 270,000 41,400 393,900 1,654,132 Bond discount — — — — — (380 ) (1,095 ) (1,475 ) (1,475 ) Issue price $ 553,232 122,500 584,500 707,000 82,500 269,620 40,305 392,425 1,652,657 Cost of funds (1-month LIBOR plus:) 0.59 % 0.27 % 0.60 % 0.30 % 0.60 % 0.90 % Final maturity date 4/25/41 3/25/20 9/25/42 1/27/25 2/26/46 6/25/49 Class B subordinated notes: Total original principal amount $ 13,114 15,000 7,500 35,614 Bond discount (1,157 ) (1,793 ) (968 ) (3,918 ) Issue price $ 11,957 13,207 6,532 31,696 Cost of funds (1-month LIBOR plus:) 1.50 % 1.50 % 1.50 % Final maturity date 6/25/46 5/25/49 6/27/50
Schedule of Extinguishment of Debt [Table Text Block]	The following table summarizes the Company's repurchases of its own debt. Gains recorded by the Company from the repurchase of debt are included in "gain on sale of loans and debt repurchases" on the Company’s consolidated statements of income. Par value Purchase price Gain Par value Purchase price Gain Three months ended September 30, 2015 September 30, 2014 Unsecured debt - Hybrid Securities $ — — — — — — Asset-backed securities 9,650 9,053 597 2,500 2,500 — $ 9,650 9,053 597 2,500 2,500 — Nine months ended September 30, 2015 September 30, 2014 Unsecured debt - Hybrid Securities $ 14,106 11,108 2,998 — — — Asset-backed securities 31,800 30,162 1,638 4,000 3,943 57 $ 45,906 41,270 4,636 4,000 3,943 57

Derivative Financial Instrume23

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Swaps - 1:3 Basis swaps	Basis Swaps The following table summarizes the Company’s basis swaps outstanding as of September 30, 2015 and December 31, 2014 in which the Company receives three-month LIBOR set discretely in advance and pays one-month LIBOR plus or minus a spread as defined in the agreements (the "1:3 Basis Swaps"). As of September 30, As of December 31, 2015 2014 Maturity Notional amount Notional amount 2016 $ 5,500,000 $ — 2021 — 250,000 2022 450,000 1,900,000 2023 1,050,000 3,650,000 2024 — 250,000 2026 200,000 800,000 2028 — 100,000 2036 — 700,000 2039 — 150,000 $ 7,200,000 $ 7,800,000 The weighted average rate paid by the Company on the 1:3 Basis Swaps as of September 30, 2015 and December 31, 2014 was one-month LIBOR plus 9.0 basis points and 3.5 basis points, respectively.
Interest Rate Swaps - Floor Income Hedges	Interest Rate Swaps – Floor Income Hedges The following table summarizes the outstanding derivative instruments used by the Company to economically hedge loans earning fixed rate floor income. As of September 30, 2015 As of December 31, 2014 Maturity Notional amount Weighted average fixed rate paid by the Company (a) Notional amount Weighted average fixed rate paid by the Company (a) 2015 $ — — % $ 1,100,000 0.89 % 2016 1,000,000 0.76 750,000 0.85 2017 2,100,000 0.84 1,250,000 0.86 2018 1,350,000 1.11 — — 2025 100,000 2.32 — — $ 4,550,000 0.93 % $ 3,100,000 0.87 % (a) For all interest rate derivatives, the Company receives discrete three-month LIBOR.
Interest Rate Swaps - Unsecured Debt Hedges	Interest Rate Swaps – Unsecured Debt Hedges The Company had the following derivatives outstanding as of September 30, 2015 and December 31, 2014 that are used to effectively convert the variable interest rate on a portion of the Junior Subordinated Hybrid Securities to a fixed rate of 7.66% . Maturity Notional amount Weighted average fixed rate paid by the Company (a) 2036 $ 25,000 4.28 % (a) For all interest rate derivatives, the Company receives discrete three-month LIBOR.
Impact of Foreign Exchange Contracts on the Statement of Income	The following table shows the income statement impact as a result of the re-measurement of the Euro Notes and the change in the fair value of the related derivative instrument. Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Re-measurement of Euro Notes $ (1,058 ) 37,418 32,480 39,216 Change in fair value of cross-currency interest rate swap 666 (37,224 ) (35,207 ) (40,261 ) Total impact to consolidated statements of income - (expense) income (a) $ (392 ) 194 (2,727 ) (1,045 ) (a) The financial statement impact of the above items is included in "Derivative market value and foreign currency adjustments and derivative settlements, net" in the Company's consolidated statements of income.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	Consolidated Financial Statement Impact Related to Derivatives The following table summarizes the fair value of the Company’s derivatives as reflected in the consolidated balance sheets: Fair value of asset derivatives Fair value of liability derivatives As of As of As of As of September 30, December 31, September 30, December 31, 1:3 basis swaps $ 8,477 53,549 44 — Interest rate swaps - floor income hedges — 5,165 16,142 5,034 Interest rate swap option - floor income hedge 3,943 5,678 — — Interest rate swaps - hybrid debt hedges — — 8,212 7,353 Interest rate caps 1,796 — — — Cross-currency interest rate swap — — 55,663 20,455 Other 1,525 — — — Total $ 15,741 64,392 80,061 32,842 During the nine months ended September 30, 2015 , the Company terminated a total notional amount of $6.1 billion of 1:3 Basis Swaps for gross proceeds of $55.6 million . There were no derivative terminations during the first nine months of 2014.
Derivatives with master netting arrangements reconciliation [Table Text Block] [Table Text Block]	Offsetting of Derivative Assets/Liabilities The Company records derivative instruments in the consolidated balance sheets on a gross basis as either an asset or liability measured at its fair value. Certain of the Company's derivative instruments are subject to right of offset provisions with counterparties. The following tables include the gross amounts related to the Company's derivative portfolio recognized in the consolidated balance sheets, reconciled to the net amount when excluding derivatives subject to enforceable master netting arrangements and cash collateral received/pledged: Gross amounts not offset in the consolidated balance sheets Derivative assets Gross amounts of recognized assets presented in the consolidated balance sheets Derivatives subject to enforceable master netting arrangement Cash collateral pledged (received) Net asset (liability) Balance as of September 30, 2015 $ 15,741 (8,620 ) — 7,121 Balance as of December 31, 2014 64,392 (12,387 ) — 52,005 Gross amounts not offset in the consolidated balance sheets Derivative liabilities Gross amounts of recognized liabilities presented in the consolidated balance sheets Derivatives subject to enforceable master netting arrangement Cash collateral pledged (received) Net asset (liability) Balance as of September 30, 2015 $ (80,061 ) 8,620 37,274 (34,167 ) Balance as of December 31, 2014 (32,842 ) 12,387 (1,454 ) (21,909 )
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following table summarizes the effect of derivative instruments in the consolidated statements of income. Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Settlements: 1:3 basis swaps $ 179 808 568 2,547 Interest rate swaps - floor income hedges (5,456 ) (5,421 ) (15,490 ) (19,345 ) Interest rate swaps - hybrid debt hedges (255 ) (259 ) (760 ) (767 ) Cross-currency interest rate swap (346 ) 38 (853 ) 288 Total settlements - expense (5,878 ) (4,834 ) (16,535 ) (17,277 ) Change in fair value: 1:3 basis swaps (1,886 ) 19,455 10,513 32,475 Interest rate swaps - floor income hedges (18,935 ) 10,628 (16,273 ) 11,173 Interest rate swap option - floor income hedge (2,205 ) (847 ) (1,736 ) (847 ) Interest rate swaps - hybrid debt hedges (1,948 ) (393 ) (861 ) (2,971 ) Interest rate caps (939 ) — (1,140 ) — Cross-currency interest rate swap 666 (37,224 ) (35,207 ) (40,261 ) Other 1,525 — 1,525 — Total change in fair value - expense (23,722 ) (8,381 ) (43,179 ) (431 ) Re-measurement of Euro Notes (foreign currency transaction adjustment) - (expense) income (1,058 ) 37,418 32,480 39,216 Derivative market value and foreign currency adjustments and derivative settlements, net - (expense) income $ (30,658 ) 24,203 (27,234 ) 21,508

Investments and Notes Receiva24

Investments and Notes Receivable (Tables)	9 Months Ended
	Sep. 30, 2015
Investments [Abstract]
Summary Investment Holdings	A summary of the Company's investments and notes receivable follows: As of September 30, 2015 As of December 31, 2014 Amortized cost Gross unrealized gains Gross unrealized losses (a) Fair value Amortized cost Gross unrealized gains Gross unrealized losses Fair value Investments (at fair value): Available-for-sale investments: Student loan asset-backed and other debt securities (b) $ 92,327 3,797 (712 ) 95,412 131,589 6,204 (236 ) 137,557 Equity securities 846 1,579 (100 ) 2,325 1,553 2,216 (33 ) 3,736 Total available-for-sale investments $ 93,173 5,376 (812 ) 97,737 133,142 8,420 (269 ) 141,293 Trading investments: Student loan asset-backed securities 6,146 7,830 Equity securities 9,852 — Total trading investments 15,998 7,830 Total available-for-sale and trading investments 113,735 149,123 Other Investments and Notes Receivable (not measured at fair value): Investments accounted for under the cost and equity methods 80,372 36,991 Notes receivable 30,964 30,643 Other 10,939 18,952 Total investments and notes receivable $ 236,010 235,709 (a) As of September 30, 2015 , the Company considered the decline in market value of its available-for-sale investments to be temporary in nature and did not consider any of its investments other-than-temporarily impaired. (b) As of September 30, 2015 , the stated maturities of the majority of the Company's student loan asset-backed and other debt securities classified as available-for-sale were greater than 10 years.

Intangible Assets Intangible 25

Intangible Assets Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Intangible assets consist of the following: Weighted average remaining useful life as of September 30, 2015 (months) As of September 30, 2015 As of December 31, 2014 Amortizable intangible assets: Customer relationships (net of accumulated amortization of $21,736 and $17,361, respectively) 217 $ 22,954 27,330 Trade names (net of accumulated amortization of $664 and $272, respectively) 224 5,758 6,150 Computer software (net of accumulated amortization of $3,624 and $1,896, respectively) 35 5,242 6,969 Content (net of accumulated amortization of $675 and $0, respectively) 15 1,125 1,800 Covenants not to compete (net of accumulated amortization of $47 and $21, respectively) 104 307 333 Total - amortizable intangible assets 184 $ 35,386 42,582
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	The Company recorded amortization expense on its intangible assets of $2.4 million and $2.0 million during the three months ended September 30, 2015 and 2014 , respectively, and $7.2 million and $4.4 million during the nine months ended September 30, 2015 and 2014 , respectively. The Company will continue to amortize intangible assets over their remaining useful lives. As of September 30, 2015 , the Company estimates it will record amortization expense as follows: 2015 (October 1 - December 31) $ 2,399 2016 6,249 2017 3,752 2018 3,533 2019 2,861 2020 and thereafter 16,592 $ 35,386
Schedule of Goodwill [Table Text Block]	The carrying amount of goodwill by reportable operating segment as of September 30, 2015 and December 31, 2014 is shown in the table below. Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other Activities Total Balance as of December 31, 2014 and September 30, 2015 $ 8,596 67,168 41,883 8,553 126,200

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three months ended September 30, 2015 2014 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 48,436 519 48,955 84,330 889 85,219 Denominator: Weighted-average common shares outstanding - basic and diluted 44,570,519 477,258 45,047,777 45,948,255 484,425 46,432,680 Earnings per share - basic and diluted $ 1.09 1.09 1.09 1.84 1.84 1.84 Nine months ended September 30, 2015 2014 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 182,664 1,965 184,629 231,725 2,274 233,999 Denominator: Weighted-average common shares outstanding - basic and diluted 45,276,376 487,067 45,763,443 46,044,429 451,880 46,496,309 Earnings per share - basic and diluted $ 4.03 4.03 4.03 5.03 5.03 5.03

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	See note 14 of the notes to consolidated financial statements included in the 2014 Annual Report for a description of the Company's operating segments. The following tables include the results of each of the Company's operating segments reconciled to the consolidated financial statements. Effective January 1, 2015, internal reporting to executive management (the "chief operating decision maker") changed to reflect operational changes made within the organization. The operational and internal reporting changes included moving the majority of information technology infrastructure personnel and related functions to Corporate and Other Activities. The associated costs are allocated to the other operating segments based on those segments' actual use of information technology related products and services. Information technology infrastructure personnel and related functions were historically included within the Student Loan and Guaranty Servicing operating segment, and associated costs were allocated to the other operating segments based on those segments' actual use of the related products and services. Prior period segment operating results have been reclassified to reflect these changes; however, the reclassifications had no effect on any operating segment's net income. Three months ended September 30, 2015 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other Activities Eliminations Total Total interest income $ 14 — 188,197 1,385 (439 ) 189,157 Interest expense — — 76,040 1,563 (439 ) 77,164 Net interest income 14 — 112,157 (178 ) — 111,993 Less provision for loan losses — — 3,000 — — 3,000 Net interest income after provision for loan losses 14 — 109,157 (178 ) — 108,993 Other income: Loan and guaranty servicing revenue 61,900 — — — (380 ) 61,520 Intersegment servicing revenue 12,027 — — — (12,027 ) — Tuition payment processing, school information, and campus commerce revenue — 30,439 — — — 30,439 Enrollment services revenue — — — 19,500 — 19,500 Other income — — 3,312 3,211 — 6,523 Gain on sale of loans and debt repurchases — — 608 (11 ) — 597 Derivative market value and foreign currency adjustments, net — — (24,357 ) (423 ) — (24,780 ) Derivative settlements, net — — (5,623 ) (255 ) — (5,878 ) Total other income 73,927 30,439 (26,060 ) 22,022 (12,407 ) 87,921 Operating expenses: Salaries and benefits 34,525 13,983 558 14,149 — 63,215 Cost to provide enrollment services — — — 12,534 — 12,534 Loan servicing fees — — 7,793 — — 7,793 Depreciation and amortization 484 2,202 — 4,291 — 6,977 Other 14,602 3,579 1,421 10,817 — 30,419 Intersegment expenses, net 10,886 2,872 12,578 (13,929 ) (12,407 ) — Total operating expenses 60,497 22,636 22,350 27,862 (12,407 ) 120,938 Income (loss) before income taxes and corporate overhead allocation 13,444 7,803 60,747 (6,018 ) — 75,976 Corporate overhead allocation (2,351 ) (941 ) (1,176 ) 4,468 — — Income (loss) before income taxes 11,093 6,862 59,571 (1,550 ) — 75,976 Income tax (expense) benefit (4,215 ) (2,606 ) (22,639 ) 2,461 — (26,999 ) Net income 6,878 4,256 36,932 911 — 48,977 Net (loss) income attributable to noncontrolling interest (5 ) — — 27 — 22 Net income attributable to Nelnet, Inc. $ 6,883 4,256 36,932 884 — 48,955 Three months ended September 30, 2014 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other Eliminations Total Total interest income $ 5 2 187,949 1,814 (346 ) 189,424 Interest expense — — 71,037 1,246 (346 ) 71,937 Net interest income 5 2 116,912 568 — 117,487 Less provision for loan losses — — 2,000 — — 2,000 Net interest income after provision for loan losses 5 2 114,912 568 — 115,487 Other income: Loan and guaranty servicing revenue 52,659 — — — — 52,659 Intersegment servicing revenue 13,432 — — — (13,432 ) — Tuition payment processing, school information, and campus commerce revenue — 26,399 — — — 26,399 Enrollment services revenue — — — 22,936 — 22,936 Other income — — 4,294 3,356 — 7,650 Gain on sale of loans and debt repurchases — — — — — — Derivative market value and foreign currency adjustments, net — — 29,430 (393 ) — 29,037 Derivative settlements, net — — (4,575 ) (259 ) — (4,834 ) Total other income 66,091 26,399 29,149 25,640 (13,432 ) 133,847 Operating expenses: Salaries and benefits 33,627 13,288 565 13,618 — 61,098 Cost to provide enrollment services — — — 14,178 — 14,178 Loan servicing fees — — 7,077 — — 7,077 Depreciation and amortization 441 2,396 — 2,656 — 5,493 Other 12,643 3,312 1,559 12,085 — 29,599 Intersegment expenses, net 8,843 1,481 13,611 (10,503 ) (13,432 ) — Total operating expenses 55,554 20,477 22,812 32,034 (13,432 ) 117,445 Income (loss) before income taxes and corporate overhead allocation 10,542 5,924 121,249 (5,826 ) — 131,889 Corporate overhead allocation (2,567 ) (856 ) (1,026 ) 4,449 — — Income (loss) before income taxes 7,975 5,068 120,223 (1,377 ) — 131,889 Income tax (expense) benefit (3,030 ) (1,926 ) (45,684 ) 4,127 — (46,513 ) Net income 4,945 3,142 74,539 2,750 — 85,376 Net income attributable to noncontrolling interest — — — 157 — 157 Net income attributable to Nelnet, Inc. $ 4,945 3,142 74,539 2,593 — 85,219 Nine months ended September 30, 2015 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other Eliminations Total Total interest income $ 34 3 536,899 5,352 (1,260 ) 541,028 Interest expense — — 218,021 4,583 (1,260 ) 221,344 Net interest income 34 3 318,878 769 — 319,684 Less provision for loan losses — — 7,150 — — 7,150 Net interest income after provision for loan losses 34 3 311,728 769 — 312,534 Other income: Loan and guaranty servicing revenue 183,544 — — — (380 ) 183,164 Intersegment servicing revenue 37,121 — — — (37,121 ) — Tuition payment processing, school information, and campus commerce revenue — 92,805 — — — 92,805 Enrollment services revenue — — — 54,524 — 54,524 Other income — — 11,838 9,107 — 20,945 Gain on sale of loans and debt repurchases — — 2,000 2,987 — 4,987 Derivative market value and foreign currency adjustments, net — — (11,363 ) 664 — (10,699 ) Derivative settlements, net — — (15,775 ) (760 ) — (16,535 ) Total other income 220,665 92,805 (13,300 ) 66,522 (37,501 ) 329,191 Operating expenses: Salaries and benefits 99,813 40,887 1,623 40,729 — 183,052 Cost to provide enrollment services — — — 35,398 — 35,398 Loan servicing fees — — 22,829 — — 22,829 Depreciation and amortization 1,457 6,592 — 11,091 — 19,140 Other 44,578 11,493 3,828 31,676 — 91,575 Intersegment expenses, net 32,152 8,271 38,016 (40,938 ) (37,501 ) — Total operating expenses 178,000 67,243 66,296 77,956 (37,501 ) 351,994 Income (loss) before income taxes and corporate overhead allocation 42,699 25,565 232,132 (10,665 ) — 289,731 Corporate overhead allocation (6,798 ) (2,721 ) (3,401 ) 12,920 — — Income before income taxes 35,901 22,844 228,731 2,255 — 289,731 Income tax (expense) benefit (13,643 ) (8,680 ) (86,919 ) 4,257 — (104,985 ) Net income 22,258 14,164 141,812 6,512 — 184,746 Net (loss) income attributable to noncontrolling interest (5 ) — — 122 — 117 Net income attributable to Nelnet, Inc. $ 22,263 14,164 141,812 6,390 — 184,629 Nine months ended September 30, 2014 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other Eliminations Total Total interest income $ 25 5 520,514 6,508 (1,805 ) 525,247 Interest expense — — 198,449 4,532 (1,805 ) 201,176 Net interest income 25 5 322,065 1,976 — 324,071 Less provision for loan losses — — 6,000 — — 6,000 Net interest income after provision for loan losses 25 5 316,065 1,976 — 318,071 Other income: Loan and guaranty servicing revenue 183,876 — — — — 183,876 Intersegment servicing revenue 41,453 — — — (41,453 ) — Tuition payment processing, school information, and campus commerce revenue — 73,468 — — — 73,468 Enrollment services revenue — — — 65,092 — 65,092 Other income — — 12,954 28,142 — 41,096 Gain on sale of loans and debt repurchases — — 57 — — 57 Derivative market value and foreign currency adjustments, net — — 41,755 (2,970 ) — 38,785 Derivative settlements, net — — (16,510 ) (767 ) — (17,277 ) Total other income 225,329 73,468 38,256 89,497 (41,453 ) 385,097 Operating expenses: Salaries and benefits 93,107 34,427 1,744 38,192 — 167,470 Cost to provide enrollment services — — — 41,964 — 41,964 Loan servicing fees — — 19,798 — — 19,798 Depreciation and amortization 1,298 5,669 — 8,523 — 15,490 Other 45,269 8,915 4,829 33,869 — 92,882 Intersegment expenses, net 27,362 4,305 41,950 (32,164 ) (41,453 ) — Total operating expenses 167,036 53,316 68,321 90,384 (41,453 ) 337,604 Income before income taxes and corporate overhead allocation 58,318 20,157 286,000 1,089 — 365,564 Corporate overhead allocation (6,487 ) (2,163 ) (3,604 ) 12,254 — — Income before income taxes 51,831 17,994 282,396 13,343 — 365,564 Income tax (expense) benefit (19,695 ) (6,837 ) (107,309 ) 3,639 — (130,202 ) Net income 32,136 11,157 175,087 16,982 — 235,362 Net income attributable to noncontrolling interest — — — 1,363 — 1,363 Net income attributable to Nelnet, Inc. $ 32,136 11,157 175,087 15,619 — 233,999

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present the Company’s financial assets and liabilities that are measured at fair value on a recurring basis. There were no transfers into or out of level 1, level 2, or level 3 for the nine months ended September 30, 2015 . As of September 30, 2015 As of December 31, 2014 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Investments (available-for-sale and trading): Student loan asset-backed securities $ — 101,237 101,237 — 145,000 145,000 Equity securities 12,177 — 12,177 3,736 — 3,736 Debt securities 321 — 321 387 — 387 Total investments (available-for-sale and trading) 12,498 101,237 113,735 4,123 145,000 149,123 Fair value of derivative instruments — 15,741 15,741 — 64,392 64,392 Total assets $ 12,498 116,978 129,476 4,123 209,392 213,515 Liabilities: Fair value of derivative instruments $ — 80,061 80,061 — 32,842 32,842 Total liabilities $ — 80,061 80,061 — 32,842 32,842
Fair Value, by Balance Sheet Grouping	The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets: As of September 30, 2015 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 29,390,728 28,954,280 — — 29,390,728 Cash and cash equivalents 114,498 114,498 114,498 — — Investments (available-for-sale and trading) 113,735 113,735 12,498 101,237 — Notes receivable 28,616 30,964 — 28,616 — Restricted cash 886,974 886,974 886,974 — — Restricted cash – due to customers 100,089 100,089 100,089 — — Restricted investments 8,297 8,297 8,297 — — Accrued interest receivable 380,441 380,441 — 380,441 — Derivative instruments 15,741 15,741 — 15,741 — Financial liabilities: Bonds and notes payable 28,103,296 28,827,603 — 28,103,296 — Accrued interest payable 31,632 31,632 — 31,632 — Due to customers 100,089 100,089 100,089 — — Derivative instruments 80,061 80,061 — 80,061 — As of December 31, 2014 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 28,954,226 28,005,195 — — 28,954,226 Cash and cash equivalents 130,481 130,481 130,481 — — Investments (available-for-sale and trading) 149,123 149,123 4,123 145,000 — Notes receivable 28,832 30,643 — 28,832 — Restricted cash 800,164 800,164 800,164 — — Restricted cash – due to customers 118,488 118,488 118,488 — — Restricted investments 50,276 50,276 50,276 — — Accrued interest receivable 351,588 351,588 — 351,588 — Derivative instruments 64,392 64,392 — 64,392 — Financial liabilities: Bonds and notes payable 27,809,997 28,027,350 — 27,809,997 — Accrued interest payable 25,904 25,904 — 25,904 — Due to customers 118,488 118,488 118,488 — — Derivative instruments 32,842 32,842 — 32,842 —

Student Loans Receivable (Detai

Student Loans Receivable (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		$ 50,380	$ 50,024	$ 48,900	$ 51,968	$ 52,467	$ 55,122
Student loans receivable		28,954,280		28,005,195
Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		35,945			39,470
Private education loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		14,435			$ 12,498
held for investment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		29,188,203		28,223,908
Loan discount, net of unamortized loan premiums and deferred origination costs	[1]	183,543		169,813
Student loans receivable		28,954,280		28,005,195
held for investment [Member] | Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		28,955,379		28,196,430
Allowance for loan losses		35,945		39,170
held for investment [Member] | Private education loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		232,824		27,478
Allowance for loan losses		14,435		9,730
held for investment [Member] | Stafford and Other [Member] | Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		6,375,336		6,030,825
held for investment [Member] | Consolidation Loans [Member] | Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		22,580,043		22,165,605
Non-accretable discount [Member] | held for investment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		10,900,000		8,500,000
Loan discount, net of unamortized loan premiums and deferred origination costs		$ 35,400		$ 28,800
[1]	As of September 30, 2015 and December 31, 2014, "loan discount, net of unamortized loan premiums and deferred origination costs" included $35.4 million and $28.8 million, respectively, of non-accretable discount associated with purchased loans of $10.9 billion and $8.5 billion, respectively.

Student Loans Receivable and 30

Student Loans Receivable and Allowance for Loan Losses Significant Purchases and Obligations (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt and Capital Lease Obligations	$ 28,827,603	$ 28,027,350
CommonBond Purchase Commitment [Member] | Private education loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long-term Purchase Commitment, Period	18 months
Financing Receivable, Significant Purchases	$ 127,800
May 26, 2015 Federally insured student loan securitization trust [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross	504,200
Debt and Capital Lease Obligations	448,900
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums	20,700
Debt Instrument, Unamortized Premium	2,200
August 3, 2015 Federally insured student loan securitization trust [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross	1,500,000
Debt and Capital Lease Obligations	1,500,000
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums	20,200
Debt Instrument, Unamortized Premium	86,700
Original Purchase Commitment [Member] | CommonBond Purchase Commitment [Member] | Private education loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Commitments to Purchase or Sell	150,000
Amended Purchase Commitment [Member] | CommonBond Purchase Commitment [Member] | Private education loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Commitments to Purchase or Sell	$ 200,000

Student Loans Receivable and 31

Student Loans Receivable and Allowance for Loan Losses Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for loan losses - balance	$ 50,024	$ 52,467	$ 48,900	$ 55,122
Provision for loan losses	3,000	2,000	7,150	6,000
Charge-offs	(3,174)	(4,144)	(10,704)	(12,932)
Purchase (sale) of federally insured and private education loans, net	30	70	(200)	320
Allowance for loan losses - balance	50,380	51,968	50,380	51,968
Federally insured loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for loan losses	2,000	2,000	6,000	7,000
Charge-offs	(2,817)	(3,521)	(9,225)	(11,290)
Allowance for loan losses - balance	35,945	39,470	35,945	39,470
Private education loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for loan losses	1,000	0	1,150	(1,000)
Charge-offs	(357)	(623)	(1,479)	(1,642)
Recoveries - private education loans	250	279	742	989
Transfer from repurchase obligation related to private education loans purchased, net	250	1,296	4,492	2,469
Allowance for loan losses - balance	$ 14,435	$ 12,498	$ 14,435	$ 12,498

Student Loans Receivable and 32

Student Loans Receivable and Allowance for Loan Losses Repurchase Obligations (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Repurchase Obligation [Line Items]
Student loans receivable		$ 28,954,280	$ 28,005,195
Other liabilities		$ 170,611	167,881
Private education loans sold subject to repurchase agreement [Member]
Repurchase Obligation [Line Items]
Days delinquent to trigger repurchase range, minimum		60 days
Days delinquent to trigger repurchase range, maximum		90 days
Student loans receivable		$ 53,100	155,300
Other liabilities		$ 3,300	$ 11,800
Financing Receivable, Significant Purchases	$ 94,100

Student Loans Receivable and 33

Student Loans Receivable and Allowance for Loan Losses Student Loan Status and Delinquency (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Federally insured loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 2,638,639	$ 3,072,318	$ 2,805,228
Loans in forbearance	2,993,844	3,505,103	3,288,412
Student loans receivable, gross	28,955,379	28,851,599	28,196,430
Loans in repayment status:
Loans current	$ 19,681,517	$ 18,672,178	$ 18,460,279
Loans current, percentage	84.40%	83.80%	83.50%
Total loans in repayment	$ 23,322,896	$ 22,274,178	$ 22,102,790
Total loans in repayment, percentage	100.00%	100.00%	100.00%
Private education loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 7,724	$ 2,958	$ 905
Loans in forbearance	16	0	0
Student loans receivable, gross	232,824	77,623	27,478
Loans in repayment status:
Loans current	$ 216,502	$ 65,560	$ 18,390
Loans current, percentage	96.20%	87.80%	69.20%
Total loans in repayment	$ 225,084	$ 74,665	$ 26,573
Total loans in repayment, percentage	100.00%	100.00%	100.00%
Financing Receivables, 31 to 60 Days Past Due [Member] | Federally insured loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 1,021,515	$ 990,696	$ 1,043,119
Financing Receivable, Percent Past Due	4.40%	4.50%	4.80%
Financing Receivables, 31 to 60 Days Past Due [Member] | Private education loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 1,999	$ 1,340	$ 1,078
Financing Receivable, Percent Past Due	0.90%	1.80%	4.10%
Financing Receivables, 61 to 90 Days Past Due [Member] | Federally insured loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 638,037	$ 569,879	$ 588,777
Financing Receivable, Percent Past Due	2.70%	2.60%	2.70%
Financing Receivables, 61 to 90 Days Past Due [Member] | Private education loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 1,206	$ 1,516	$ 1,035
Financing Receivable, Percent Past Due	0.50%	2.00%	3.90%
Financing receivables, 91-120 days past due [Member] | Federally insured loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 465,261	$ 452,463	$ 404,905
Financing Receivable, Percent Past Due	2.00%	2.00%	1.80%
Financing receivables, 121-270 days past due [Member] | Federally insured loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 1,139,864	$ 1,183,616	$ 1,204,405
Financing Receivable, Percent Past Due	4.90%	5.30%	5.40%
Financing receivables, 271 days or greater past due [Member] | Federally insured loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 376,702	$ 405,346	$ 401,305
Financing Receivable, Percent Past Due	1.60%	1.80%	1.80%
Financing Receivables, Equal to Greater than 91 Days Past Due [Member] | Private education loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 5,377	$ 6,249	$ 6,070
Financing Receivable, Percent Past Due	2.40%	8.40%	22.80%

Outstanding Debt Obligations (D

Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Bonds and notes payable	$ 28,827,603	$ 28,027,350
Debt Instrument, Unamortized Discount (Premium), Net	445,087	393,072
Bonds and notes payable, gross [Member]
Debt Instrument [Line Items]
Bonds and notes payable	29,272,690	28,420,422
Variable-rate bonds and notes [Member]
Debt Instrument [Line Items]
Bonds and notes payable	27,508,150	27,025,100
Bonds and notes based on indices [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 26,346,635	$ 25,713,431
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.08%	0.19%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	6.90%	6.90%
Debt Instrument, Maturity Date Range, Start	Aug. 26, 2019	May 25, 2018
Debt Instrument, Maturity Date Range, End	Aug. 26, 2052	Aug. 26, 2052
Bonds and notes based on auction [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 1,161,515	$ 1,311,669
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	1.11%	0.47%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	2.13%	2.17%
Debt Instrument, Maturity Date Range, Start	Mar. 22, 2032	Mar. 22, 2032
Debt Instrument, Maturity Date Range, End	Nov. 26, 2046	Nov. 26, 2046
warehouse facilities [Member] | FFELP Warehouse Total [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 1,391,877	$ 1,241,665
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.20%	0.16%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	0.41%	0.26%
Debt Instrument, Maturity Date Range, Start	Dec. 17, 2017	Jan. 17, 2016
Debt Instrument, Maturity Date Range, End	Jul. 9, 2018	Jun. 11, 2017
warehouse facilities [Member] | Private Education Loan Warehouse Total [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 170,081
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.42%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	0.42%
Debt Instrument, Maturity Date Range, Start	Dec. 26, 2016
Debt Instrument, Maturity Date Range, End	Dec. 26, 2016
Unsecured Line of Credit [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 70,000	$ 0
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	1.72%	0.00%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	1.72%	0.00%
Debt Instrument, Maturity Date Range, Start	Jun. 30, 2019	Jun. 30, 2019
Debt Instrument, Maturity Date Range, End	Jun. 30, 2019	Jun. 30, 2019
Unsecured debt - Junior Subordinated Hybrid Securities [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 57,582	$ 71,688
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	3.70%	3.63%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	3.70%	3.63%
Debt Instrument, Maturity Date Range, Start	Sep. 15, 2061	Sep. 15, 2061
Debt Instrument, Maturity Date Range, End	Sep. 15, 2061	Sep. 15, 2061
Other borrowings [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 75,000	$ 81,969
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	1.69%	1.67%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	1.69%	5.10%
Debt Instrument, Maturity Date Range, Start	Oct. 31, 2016	Nov. 11, 2015
Debt Instrument, Maturity Date Range, End	Oct. 31, 2016	Dec. 31, 2018

Bonds and Notes Payable Outstan

Bonds and Notes Payable Outstanding Lines of Credit (Details) - USD ($) $ in Thousands		Nov. 05, 2015	Sep. 30, 2015	Oct. 31, 2014
Unsecured Line of Credit [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			$ 350,000	$ 350,000
Amount outstanding			70,000
Amount available			$ 280,000
Debt Instrument, Maturity Date			Jun. 30, 2019
Changes to debt covenants [Abstract]
Cap related to the volume of private education loans that the Company may hold			$ 900,000
warehouse facilities [Member] | FFELP Warehouse Total [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			2,125,000
Amount outstanding			1,391,877
Amount available			733,123
Advanced as equity support			73,089
warehouse facilities [Member] | Private Education Loan Warehouse Total [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			275,000
Amount outstanding			170,100
Amount available			$ 104,900
Expiration of liquidity provisions			Jun. 24, 2016
Debt Instrument, Maturity Date			Dec. 26, 2016
Maximum advance rates - range maximum			88.00%
Minimum Advance Rates - range minimum			64.00%
Minimum advance rates - range maximum			99.00%
Advanced as equity support			$ 23,700
warehouse facilities [Member] | NHELP-III Warehouse [Member] | FFELP Warehouse Total [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			750,000
Amount outstanding			395,631
Amount available			$ 354,369
Expiration of liquidity provisions			Apr. 29, 2016
Debt Instrument, Maturity Date			Apr. 29, 2018
Maximum Advance Rates - range minimum			92.20%
Maximum advance rates - range maximum			95.00%
Minimum Advance Rates - range minimum			92.20%
Minimum advance rates - range maximum			95.00%
Advanced as equity support			$ 22,427
warehouse facilities [Member] | NFSLW-I Warehouse [Member] | FFELP Warehouse Total [Member]
Line of Credit Facility [Line Items]
Maximum financing amount	[1]		875,000
Amount outstanding	[1]		549,622
Amount available	[1]		$ 325,378
Expiration of liquidity provisions	[1]		Jul. 8, 2016
Debt Instrument, Maturity Date	[1]		Jul. 9, 2018
Maximum Advance Rates - range minimum	[1]		92.00%
Maximum advance rates - range maximum	[1]		98.00%
Minimum Advance Rates - range minimum	[1]		84.00%
Minimum advance rates - range maximum	[1]		90.00%
Advanced as equity support	[1]		$ 26,124
expected decrease in financing amount			$ 125,000
Date of expected decrease in financing amount			Mar. 31, 2016
warehouse facilities [Member] | NHELP-II Warehouse [Member] | FFELP Warehouse Total [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			$ 500,000
Amount outstanding			446,624
Amount available			$ 53,376
Expiration of liquidity provisions			Dec. 17, 2015
Debt Instrument, Maturity Date			Dec. 17, 2017
Maximum Advance Rates - range minimum			91.00%
Maximum advance rates - range maximum			97.00%
Minimum Advance Rates - range minimum			91.00%
Minimum advance rates - range maximum			97.00%
Advanced as equity support			$ 24,538
Subsequent Event [Member] | Unsecured Line of Credit [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Maturity Date		Oct. 30, 2020
Changes to debt covenants [Abstract]
Per fiscal year limit on acquisitions of businesses not in a similar line of business		$ 75,000
Percent of consolidated net worth for permitted investments		20.00%
Cap related to the volume of private education loans that the Company may hold		$ 500,000
Base level of minimum consolidated net worth		$ 1,350,000
Percent of consolidated net income added to base level of consolidated net worth		50.00%
Percent of net cash proceeds from the issuance of common stock added to base level of consolidated net worth		100.00%
[1]	(a)On July 10, 2015, the Company amended the agreement for this warehouse facility to temporarily increase the maximum financing amount to $875.0 million, extend the expiration of the liquidity provisions to July 8, 2016, and extend the maturity date to July 9, 2018. The maximum financing amount is scheduled to decrease by $125.0 million on March 31, 2016.

Bonds and Notes Payable Asset-b

Bonds and Notes Payable Asset-backed Securitizations (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Debt Instrument [Line Items]
Debt Instrument, Variable Rate Basis	1-month LIBOR
Asset-backed securitization issuance, Face Amount	$ 1,689,746
2015-1 Securitization [Member]
Debt Instrument [Line Items]
Asset-backed securitization, issuance date	Feb. 27, 2015
Asset-backed securitization issuance, Face Amount	$ 566,346
2015-2 Securitization [Member]
Debt Instrument [Line Items]
Asset-backed securitization, issuance date	Mar. 26, 2015
Asset-backed securitization issuance, Face Amount	$ 722,000
2015-2 Securitization [Member] | 2015-2 Securitization Class A-1 [Member]
Debt Instrument [Line Items]
Asset-backed securitization, issuance date	Mar. 26, 2015
Asset-backed securitization issuance, Face Amount	$ 122,500
2015-2 Securitization [Member] | 2015-2 Securitization Class A-2 [Member]
Debt Instrument [Line Items]
Asset-backed securitization, issuance date	Mar. 26, 2015
Asset-backed securitization issuance, Face Amount	$ 584,500
2015-3 Securitization [Member]
Debt Instrument [Line Items]
Asset-backed securitization, issuance date	May 21, 2015
Asset-backed securitization issuance, Face Amount	$ 401,400
2015-3 Securitization [Member] | 2015-3 Securitization Class A-1 [Member]
Debt Instrument [Line Items]
Asset-backed securitization, issuance date	May 21, 2015
Asset-backed securitization issuance, Face Amount	$ 82,500
2015-3 Securitization [Member] | 2015-3 Securitization Class A-2 [Member]
Debt Instrument [Line Items]
Asset-backed securitization, issuance date	May 21, 2015
Asset-backed securitization issuance, Face Amount	$ 270,000
2015-3 Securitization [Member] | 2015-3 Securitization Class A-3 [Member]
Debt Instrument [Line Items]
Asset-backed securitization, issuance date	May 21, 2015
Asset-backed securitization issuance, Face Amount	$ 41,400
Class A [Member]
Debt Instrument [Line Items]
Asset-backed securitization issuance, Unamortized Discount	(1,475)
Asset-backed securitization issuance, Face Amount	1,654,132
Long-term Debt, Fair Value	$ 1,652,657
Class A [Member] | 2015-1 Securitization [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate Basis	0.59%
Asset-backed securitization issuance, Unamortized Discount	$ 0
Asset-backed securitization issuance, Face Amount	553,232
Long-term Debt, Fair Value	$ 553,232
Debt Instrument, Maturity Date Range, End	Apr. 25, 2041
Class A [Member] | 2015-2 Securitization [Member]
Debt Instrument [Line Items]
Asset-backed securitization issuance, Unamortized Discount	$ 0
Asset-backed securitization issuance, Face Amount	707,000
Long-term Debt, Fair Value	$ 707,000
Class A [Member] | 2015-2 Securitization [Member] | 2015-2 Securitization Class A-1 [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate Basis	0.27%
Asset-backed securitization issuance, Unamortized Discount	$ 0
Asset-backed securitization issuance, Face Amount	122,500
Long-term Debt, Fair Value	$ 122,500
Debt Instrument, Maturity Date Range, End	Mar. 25, 2020
Class A [Member] | 2015-2 Securitization [Member] | 2015-2 Securitization Class A-2 [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate Basis	0.60%
Asset-backed securitization issuance, Unamortized Discount	$ 0
Asset-backed securitization issuance, Face Amount	584,500
Long-term Debt, Fair Value	$ 584,500
Debt Instrument, Maturity Date Range, End	Sep. 25, 2042
Class A [Member] | 2015-3 Securitization [Member]
Debt Instrument [Line Items]
Asset-backed securitization issuance, Unamortized Discount	$ (1,475)
Asset-backed securitization issuance, Face Amount	393,900
Long-term Debt, Fair Value	$ 392,425
Class A [Member] | 2015-3 Securitization [Member] | 2015-3 Securitization Class A-1 [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate Basis	0.30%
Asset-backed securitization issuance, Unamortized Discount	$ 0
Asset-backed securitization issuance, Face Amount	82,500
Long-term Debt, Fair Value	$ 82,500
Debt Instrument, Maturity Date Range, End	Jan. 27, 2025
Class A [Member] | 2015-3 Securitization [Member] | 2015-3 Securitization Class A-2 [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate Basis	0.60%
Asset-backed securitization issuance, Unamortized Discount	$ (380)
Asset-backed securitization issuance, Face Amount	270,000
Long-term Debt, Fair Value	$ 269,620
Debt Instrument, Maturity Date Range, End	Feb. 26, 2046
Class A [Member] | 2015-3 Securitization [Member] | 2015-3 Securitization Class A-3 [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate Basis	0.90%
Asset-backed securitization issuance, Unamortized Discount	$ (1,095)
Asset-backed securitization issuance, Face Amount	41,400
Long-term Debt, Fair Value	$ 40,305
Debt Instrument, Maturity Date Range, End	Jun. 25, 2049
Class B [Member]
Debt Instrument [Line Items]
Asset-backed securitization issuance, Unamortized Discount	$ (3,918)
Asset-backed securitization issuance, Face Amount	35,614
Long-term Debt, Fair Value	$ 31,696
Class B [Member] | 2015-1 Securitization [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate Basis	1.50%
Asset-backed securitization issuance, Unamortized Discount	$ (1,157)
Asset-backed securitization issuance, Face Amount	13,114
Long-term Debt, Fair Value	$ 11,957
Debt Instrument, Maturity Date Range, End	Jun. 25, 2046
Class B [Member] | 2015-2 Securitization [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate Basis	1.50%
Asset-backed securitization issuance, Unamortized Discount	$ (1,793)
Asset-backed securitization issuance, Face Amount	15,000
Long-term Debt, Fair Value	$ 13,207
Debt Instrument, Maturity Date Range, End	May 25, 2049
Class B [Member] | 2015-3 Securitization [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate Basis	1.50%
Asset-backed securitization issuance, Unamortized Discount	$ (968)
Asset-backed securitization issuance, Face Amount	7,500
Long-term Debt, Fair Value	$ 6,532
Debt Instrument, Maturity Date Range, End	Jun. 27, 2050

Bonds and Notes Payable Debt Re

Bonds and Notes Payable Debt Repurchases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Par value	$ 1,689,746		$ 1,689,746
Purchase price	9,053	$ 2,500	41,270	$ 3,943
Gain from debt repurchases	597	0	4,636	57
Extinguishment of Debt, Amount	9,650	2,500	45,906	4,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Purchase price	0	0	11,108	0
Gain from debt repurchases	0	0	2,998	0
Extinguishment of Debt, Amount	0	0	14,106	0
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Purchase price	9,053	2,500	30,162	3,943
Gain from debt repurchases	597	0	1,638	57
Extinguishment of Debt, Amount	$ 9,650	$ 2,500	$ 31,800	$ 4,000

Derivative Financial Instrume38

Derivative Financial Instruments Outstanding (Details) - USD ($) $ in Thousands		9 Months Ended		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Derivative [Line Items]
Payment to enter into derivative instruments		$ 2,936	$ 9,087
Bonds and notes payable		$ 28,827,603		$ 28,027,350
1:3 basis swaps [Member]
Derivative [Line Items]
Derivative, Type of Interest Rate Paid on Swap		one-month LIBOR		one-month LIBOR
Weighted average basis spread on variable rate paid on swap		0.09%		0.035%
Derivative, Notional Amount		$ 7,200,000		$ 7,800,000
Derivative, Type of Interest Rate Received on Swap		3-month LIBOR		3-month LIBOR
1:3 basis swaps [Member] | One Month to Three Month Basis Swap Outstanding - Maturity 2016 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 5,500,000		$ 0
1:3 basis swaps [Member] | One Month to Three Month Basis Swap Outstanding - Maturity 2021 [Member]
Derivative [Line Items]
Derivative, Notional Amount		0		250,000
1:3 basis swaps [Member] | One Month to Three Month Basis Swap Outstanding - Maturity 2022 [Member]
Derivative [Line Items]
Derivative, Notional Amount		450,000		1,900,000
1:3 basis swaps [Member] | One Month to Three Month Basis Swap Outstanding - Maturity 2023 [Member]
Derivative [Line Items]
Derivative, Notional Amount		1,050,000		3,650,000
1:3 basis swaps [Member] | One Month to Three Month Basis Swap Outstanding - Maturity 2024 [Member]
Derivative [Line Items]
Derivative, Notional Amount		0		250,000
1:3 basis swaps [Member] | One Month to Three Month Basis Swap Outstanding - Maturity 2026 [Member]
Derivative [Line Items]
Derivative, Notional Amount		200,000		800,000
1:3 basis swaps [Member] | One Month to Three Month Basis Swap Outstanding - Maturity 2028 [Member]
Derivative [Line Items]
Derivative, Notional Amount		0		100,000
1:3 basis swaps [Member] | One Month to Three Month Basis Swap Outstanding - Maturity 2036 [Member]
Derivative [Line Items]
Derivative, Notional Amount		0		700,000
1:3 basis swaps [Member] | One Month to Three Month Basis Swap Outstanding - Maturity 2039 [Member]
Derivative [Line Items]
Derivative, Notional Amount		0		150,000
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 4,550,000		$ 3,100,000
Derivative, Average Fixed Interest Rate	[1]	0.93%		0.87%
Derivative, Type of Interest Rate Received on Swap		3-month LIBOR		3-month LIBOR
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Fixed Rate Floor Income Interest Rate Swap - Maturity 2015 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 0		$ 1,100,000
Derivative, Average Fixed Interest Rate	[1]	0.00%		0.89%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Fixed Rate Floor Income Interest Rate Swap - Maturity 2016 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 1,000,000		$ 750,000
Derivative, Average Fixed Interest Rate	[1]	0.76%		0.85%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Fixed Rate Floor Income Interest Rate Swap - Maturity 2017 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 2,100,000		$ 1,250,000
Derivative, Average Fixed Interest Rate	[1]	0.84%		0.86%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Fixed Rate Floor Income Interest Rate Swap - Maturity 2018 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 1,350,000		$ 0
Derivative, Average Fixed Interest Rate	[1]	1.11%		0.00%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Fixed Rate Floor Income Interest Rate Swap - Maturity 2025 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 100,000		$ 0
Derivative, Average Fixed Interest Rate	[1]	2.32%		0.00%
Interest Rate Swap [Member] | unsecured debt hedges [Member] | Maturity 2036 [Member]
Derivative [Line Items]
Derivative, Fixed Interest Rate		7.66%		7.66%
Derivative, Notional Amount		$ 25,000		$ 25,000
Derivative, Average Fixed Interest Rate	[2]	4.28%		4.28%
Derivative, Type of Interest Rate Received on Swap		3-month LIBOR		3-month LIBOR
Interest rate swap option - floor income hedge [Member]
Derivative [Line Items]
Payment to enter into derivative instruments				$ 9,100
Derivative, Notional Amount		$ 250,000
Derivative, Type of Interest Rate Received on Swap		1-month LIBOR
Derivative, Swaption Interest Rate		3.30%
Interest Rate Cap [Member]
Derivative [Line Items]
Payment to enter into derivative instruments		$ 2,900
Derivative, Notional Amount		275,000
Interest Rate Cap [Member] | Interest Rate Cap 1 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 125,000
Derivative, Description of Terms		one-month LIBOR
Derivative, Cap Interest Rate		2.50%
Interest Rate Cap [Member] | Interest Rate Cap 2 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 150,000
Derivative, Description of Terms		one-month LIBOR
Derivative, Cap Interest Rate		4.99%
Private Education Loan Warehouse Total [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Bonds and notes payable		$ 275,000
[1]	For all interest rate derivatives, the Company receives discrete three-month LIBOR.
[2]	For all interest rate derivatives, the Company receives discrete three-month LIBOR.

Derivative Financial Instrume39

Derivative Financial Instruments Cross-currency Interest Rate Swaps (Details) $ in Thousands, € in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015EUR (€)	Dec. 31, 2014USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Bonds and notes payable		$ 28,827,603		$ 28,827,603			$ 28,027,350
Change in fair value of cross currency interest rate swaps				(43,179)	$ (431)
Currency Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Bonds and notes payable | €						€ 352.7
Derivative, Notional Amount		450,000		450,000		€ 352.7
Re-measurement of Euro Notes		(1,058)	$ 37,418	32,480	39,216
Change in fair value of cross currency interest rate swaps		666	(37,224)	(35,207)	(40,261)
Total impact to statements of income - income (expense)	[1]	$ (392)	$ 194	$ (2,727)	$ (1,045)
[1]	The financial statement impact of the above items is included in "Derivative market value and foreign currency adjustments and derivative settlements, net" in the Company's consolidated statements of income.

Derivative Financial Instrume40

Derivative Financial Instruments Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	$ 15,741	$ 64,392
Fair value of derivative instruments, liability	80,061	32,842
1:3 basis swaps [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	8,477	53,549
Fair value of derivative instruments, liability	44	0
notional amount of terminated derivatives	6,100,000
Proceeds to terminate and or amend derivative instruments	55,600
Interest rate swaps - floor income hedges [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	0	5,165
Fair value of derivative instruments, liability	16,142	5,034
Interest rate swap option - floor income hedge [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	3,943	5,678
Fair value of derivative instruments, liability	0	0
Interest rate swaps - hybrid debt hedges [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	0	0
Fair value of derivative instruments, liability	8,212	7,353
Interest Rate Swap - other [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	1,525	0
Fair value of derivative instruments, liability	0	0
Interest Rate Cap [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	1,796	0
Fair value of derivative instruments, liability	0	0
Cross-currency interest rate swaps [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	0	0
Fair value of derivative instruments, liability	$ 55,663	$ 20,455

Derivative Financial Instrume41

Derivative Financial Instruments Gross/Net (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	$ 15,741	$ 64,392
Fair value of derivative instruments, liability	80,061	32,842
Derivative Financial Instruments, Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	15,741	64,392
Derivatives subject to enforceable master netting arrangement, asset	(8,620)	(12,387)
Cash collateral pledged	0	0
Fair value of derivative instruments, asset, net	7,121	52,005
Derivative Financial Instruments, Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, liability	80,061	32,842
Derivatives subject to enforceable master netting arrangement, liability	8,620	12,387
Cash collateral pledged	(37,274)
Cash collateral received		1,454
Fair value of derivative instruments, liability, net	$ 34,167	$ 21,909

Derivative Financial Instrume42

Derivative Financial Instruments Income Statement Effect of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	$ (5,878)	$ (4,834)	$ (16,535)	$ (17,277)
Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(5,878)	(4,834)	(16,535)	(17,277)
Change in fair value	(23,722)	(8,381)	(43,179)	(431)
Re-measurement of Euro Notes (foreign currency transaction adjustment) - income (expense)	(1,058)	37,418	32,480	39,216
Derivative market value and foreign currency adjustments and derivative settlements - income (expense)	(30,658)	24,203	(27,234)	21,508
Other Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	1,525	0	1,525	0
1:3 basis swaps [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	179	808	568	2,547
Change in fair value	(1,886)	19,455	10,513	32,475
Interest rate swaps - floor income hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(5,456)	(5,421)	(15,490)	(19,345)
Change in fair value	(18,935)	10,628	(16,273)	11,173
Interest rate swap option - floor income hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(2,205)	(847)	(1,736)	(847)
Interest rate swaps - hybrid debt hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(255)	(259)	(760)	(767)
Change in fair value	(1,948)	(393)	(861)	(2,971)
Interest Rate Cap [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(939)	0	(1,140)	0
Cross-currency interest rate swaps [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(346)	38	(853)	288
Change in fair value	$ 666	$ (37,224)	$ (35,207)	$ (40,261)

Investments and Notes Receiva43

Investments and Notes Receivable Summary (Details) - USD ($) $ in Thousands		Sep. 30, 2015		Dec. 31, 2014
Investment Holdings [Line Items]
Investments and notes receivable		$ 236,010		$ 235,709
Investments [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		113,735		149,123
Investments [Member] | Available-for-sale investments [Member]
Investment Holdings [Line Items]
Amortized cost		93,173		133,142
Gross unrealized gains		5,376		8,420
Gross unrealized losses		(812)	[1]	(269)
Investments, Fair Value Disclosure		97,737		141,293
Investments [Member] | Available-for-sale investments [Member] | Student Loan Asset-Backed and Other Debt Securities [Member]
Investment Holdings [Line Items]
Amortized cost	[2]	92,327		131,589
Gross unrealized gains	[2]	3,797		6,204
Gross unrealized losses	[2]	(712)	[1]	(236)
Investments, Fair Value Disclosure	[2]	95,412		137,557
Investments [Member] | Available-for-sale investments [Member] | Equity securities [Member]
Investment Holdings [Line Items]
Amortized cost		846		1,553
Gross unrealized gains		1,579		2,216
Gross unrealized losses		(100)	[1]	(33)
Investments, Fair Value Disclosure		2,325		3,736
Investments [Member] | Trading investments [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		15,998		7,830
Investments [Member] | Trading investments [Member] | Student Loan Asset-Backed and Other Debt Securities [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		6,146		7,830
Investments [Member] | Trading investments [Member] | Equity securities [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		9,852		0
Other Investments and Notes Receivable (not measured at fair value) [Member] | Investments accounted for under the cost and equity methods [Member]
Investment Holdings [Line Items]
Other Investments		80,372		36,991
Other Investments and Notes Receivable (not measured at fair value) [Member] | Notes Receivable [Member]
Investment Holdings [Line Items]
Other Investments		30,964		30,643
Other Investments and Notes Receivable (not measured at fair value) [Member] | Other Investments [Member]
Investment Holdings [Line Items]
Other Investments		$ 10,939		$ 18,952
[1]	As of September 30, 2015, the Company considered the decline in market value of its available-for-sale investments to be temporary in nature and did not consider any of its investments other-than-temporarily impaired.
[2]	As of September 30, 2015, the stated maturities of the majority of the Company's student loan asset-backed and other debt securities classified as available-for-sale were greater than 10 years.

Intangible Assets Intangible 44

Intangible Assets Intangible Assets (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life (months)	184 months
Finite-Lived Intangible Assets, Net	$ 35,386,000	$ 42,582,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 21,736,000	17,361,000
Weighted average remaining useful life (months)	217 months
Finite-Lived Intangible Assets, Net	$ 22,954,000	27,330,000
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 664,000	272,000
Weighted average remaining useful life (months)	224 months
Finite-Lived Intangible Assets, Net	$ 5,758,000	6,150,000
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 3,624,000	1,896,000
Weighted average remaining useful life (months)	35 months
Finite-Lived Intangible Assets, Net	$ 5,242,000	6,969,000
Media Content [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 675,000	0
Weighted average remaining useful life (months)	15 months
Finite-Lived Intangible Assets, Net	$ 1,125,000	1,800,000
Covenants not to compete [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 47,000	21,000
Weighted average remaining useful life (months)	104 months
Finite-Lived Intangible Assets, Net	$ 307,000	$ 333,000

Intangible Assets Amortization

Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Amortization of Intangible Assets	$ 2,400	$ 2,000	$ 7,200	$ 4,400
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	2,399		2,399
Finite-Lived Intangible Assets, Amortization Expense, Year Two	6,249		6,249
Finite-Lived Intangible Assets, Amortization Expense, Year Three	3,752		3,752
Finite-Lived Intangible Assets, Amortization Expense, Year Four	3,533		3,533
Finite-Lived Intangible Assets, Amortization Expense, Year Five	2,861		2,861
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	16,592		16,592
Amortization of Intangible Assets	$ 35,386		$ 35,386		$ 42,582

Intangible Assets Goodwill (Det

Intangible Assets Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Goodwill [Line Items]
Goodwill	$ 126,200
Goodwill, Acquired During Period	0
Goodwill	126,200
Student Loan and Guaranty Servicing [Member]
Goodwill [Line Items]
Goodwill	8,596
Goodwill, Acquired During Period	0
Goodwill	8,596
Tuition Payment Processing and Campus Commerce [Member]
Goodwill [Line Items]
Goodwill	67,168
Goodwill, Acquired During Period	0
Goodwill	67,168
Asset Generation and Management [Member]
Goodwill [Line Items]
Goodwill	41,883
Goodwill, Acquired During Period	0
Goodwill	41,883
Corporate and Other Activities [Member]
Goodwill [Line Items]
Goodwill	8,553
Goodwill, Acquired During Period	0
Goodwill	$ 8,553

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0	0
Net income attributable to Nelnet, Inc.	$ 48,955	$ 85,219	$ 184,629	$ 233,999
Weighted average common shares outstanding - basic and diluted	45,047,777	46,432,680	45,763,443	46,496,309
Earnings per share - basic and diluted	$ 1.09	$ 1.84	$ 4.03	$ 5.03
Common shareholders [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 48,436	$ 84,330	$ 182,664	$ 231,725
Weighted average common shares outstanding - basic and diluted	44,570,519	45,948,255	45,276,376	46,044,429
Earnings per share - basic and diluted	$ 1.09	$ 1.84	$ 4.03	$ 5.03
Unvested restricted stock shareholders [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 519	$ 889	$ 1,965	$ 2,274
Weighted average common shares outstanding - basic and diluted	477,258	484,425	487,067	451,880
Earnings per share - basic and diluted	$ 1.09	$ 1.84	$ 4.03	$ 5.03

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Total interest income	$ 189,157	$ 189,424	$ 541,028	$ 525,247
Interest expense	77,164	71,937	221,344	201,176
Net interest income	111,993	117,487	319,684	324,071
Less provision for loan losses	3,000	2,000	7,150	6,000
Net interest income after provision for loan losses	108,993	115,487	312,534	318,071
Other income:
Loan and guaranty servicing revenue	61,520	52,659	183,164	183,876
Intersegment servicing revenue	0	0	0	0
Tuition payment processing, school information, and campus commerce revenue	30,439	26,399	92,805	73,468
Enrollment services revenue	19,500	22,936	54,524	65,092
Other income	6,523	7,650	20,945	41,096
Gain on sale of loans and debt repurchases	597	0	4,987	57
Derivative market value and foreign currency adjustments, net	(24,780)	29,037	(10,699)	38,785
Derivative settlements, net	(5,878)	(4,834)	(16,535)	(17,277)
Total other income	87,921	133,847	329,191	385,097
Operating expenses:
Salaries and benefits	63,215	61,098	183,052	167,470
Cost to provide enrollment services	12,534	14,178	35,398	41,964
Loan servicing fees	7,793	7,077	22,829	19,798
Depreciation and amortization	6,977	5,493	19,140	15,490
Other	30,419	29,599	91,575	92,882
Intersegment expenses, net	0	0	0	0
Total operating expenses	120,938	117,445	351,994	337,604
Income (loss) before income taxes and corporate overhead allocation	75,976	131,889	289,731	365,564
Corporate overhead allocation	0	0	0	0
Income before income taxes	75,976	131,889	289,731	365,564
Income tax (expense) benefit	(26,999)	(46,513)	(104,985)	(130,202)
Net income	48,977	85,376	184,746	235,362
Net income attributable to noncontrolling interest	22	157	117	1,363
Net income attributable to Nelnet, Inc.	48,955	85,219	184,629	233,999
Student Loan and Guaranty Servicing [Member]
Segment Reporting Information [Line Items]
Total interest income	14	5	34	25
Interest expense	0	0	0	0
Net interest income	14	5	34	25
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	14	5	34	25
Other income:
Loan and guaranty servicing revenue	61,900	52,659	183,544	183,876
Intersegment servicing revenue	12,027	13,432	37,121	41,453
Tuition payment processing, school information, and campus commerce revenue	0	0	0	0
Enrollment services revenue	0	0	0	0
Other income	0	0	0	0
Gain on sale of loans and debt repurchases	0	0	0	0
Derivative market value and foreign currency adjustments, net	0	0	0	0
Derivative settlements, net	0	0	0	0
Total other income	73,927	66,091	220,665	225,329
Operating expenses:
Salaries and benefits	34,525	33,627	99,813	93,107
Cost to provide enrollment services	0	0	0	0
Loan servicing fees	0	0	0	0
Depreciation and amortization	484	441	1,457	1,298
Other	14,602	12,643	44,578	45,269
Intersegment expenses, net	10,886	8,843	32,152	27,362
Total operating expenses	60,497	55,554	178,000	167,036
Income (loss) before income taxes and corporate overhead allocation	13,444	10,542	42,699	58,318
Corporate overhead allocation	(2,351)	(2,567)	(6,798)	(6,487)
Income before income taxes	11,093	7,975	35,901	51,831
Income tax (expense) benefit	(4,215)	(3,030)	(13,643)	(19,695)
Net income	6,878	4,945	22,258	32,136
Net income attributable to noncontrolling interest	(5)	0	(5)	0
Net income attributable to Nelnet, Inc.	6,883	4,945	22,263	32,136
Tuition Payment Processing and Campus Commerce [Member]
Segment Reporting Information [Line Items]
Total interest income	0	2	3	5
Interest expense	0	0	0	0
Net interest income	0	2	3	5
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	0	2	3	5
Other income:
Loan and guaranty servicing revenue	0	0	0	0
Intersegment servicing revenue	0	0	0	0
Tuition payment processing, school information, and campus commerce revenue	30,439	26,399	92,805	73,468
Enrollment services revenue	0	0	0	0
Other income	0	0	0	0
Gain on sale of loans and debt repurchases	0	0	0	0
Derivative market value and foreign currency adjustments, net	0	0	0	0
Derivative settlements, net	0	0	0	0
Total other income	30,439	26,399	92,805	73,468
Operating expenses:
Salaries and benefits	13,983	13,288	40,887	34,427
Cost to provide enrollment services	0	0	0	0
Loan servicing fees	0	0	0	0
Depreciation and amortization	2,202	2,396	6,592	5,669
Other	3,579	3,312	11,493	8,915
Intersegment expenses, net	2,872	1,481	8,271	4,305
Total operating expenses	22,636	20,477	67,243	53,316
Income (loss) before income taxes and corporate overhead allocation	7,803	5,924	25,565	20,157
Corporate overhead allocation	(941)	(856)	(2,721)	(2,163)
Income before income taxes	6,862	5,068	22,844	17,994
Income tax (expense) benefit	(2,606)	(1,926)	(8,680)	(6,837)
Net income	4,256	3,142	14,164	11,157
Net income attributable to noncontrolling interest	0	0	0	0
Net income attributable to Nelnet, Inc.	4,256	3,142	14,164	11,157
Asset Generation and Management [Member]
Segment Reporting Information [Line Items]
Total interest income	188,197	187,949	536,899	520,514
Interest expense	76,040	71,037	218,021	198,449
Net interest income	112,157	116,912	318,878	322,065
Less provision for loan losses	3,000	2,000	7,150	6,000
Net interest income after provision for loan losses	109,157	114,912	311,728	316,065
Other income:
Loan and guaranty servicing revenue	0	0	0	0
Intersegment servicing revenue	0	0	0	0
Tuition payment processing, school information, and campus commerce revenue	0	0	0	0
Enrollment services revenue	0	0	0	0
Other income	3,312	4,294	11,838	12,954
Gain on sale of loans and debt repurchases	608	0	2,000	57
Derivative market value and foreign currency adjustments, net	(24,357)	29,430	(11,363)	41,755
Derivative settlements, net	(5,623)	(4,575)	(15,775)	(16,510)
Total other income	(26,060)	29,149	(13,300)	38,256
Operating expenses:
Salaries and benefits	558	565	1,623	1,744
Cost to provide enrollment services	0	0	0	0
Loan servicing fees	7,793	7,077	22,829	19,798
Depreciation and amortization	0	0	0	0
Other	1,421	1,559	3,828	4,829
Intersegment expenses, net	12,578	13,611	38,016	41,950
Total operating expenses	22,350	22,812	66,296	68,321
Income (loss) before income taxes and corporate overhead allocation	60,747	121,249	232,132	286,000
Corporate overhead allocation	(1,176)	(1,026)	(3,401)	(3,604)
Income before income taxes	59,571	120,223	228,731	282,396
Income tax (expense) benefit	(22,639)	(45,684)	(86,919)	(107,309)
Net income	36,932	74,539	141,812	175,087
Net income attributable to noncontrolling interest	0	0	0	0
Net income attributable to Nelnet, Inc.	36,932	74,539	141,812	175,087
Corporate and Other Activities [Member]
Segment Reporting Information [Line Items]
Total interest income	1,385	1,814	5,352	6,508
Interest expense	1,563	1,246	4,583	4,532
Net interest income	(178)	568	769	1,976
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	(178)	568	769	1,976
Other income:
Loan and guaranty servicing revenue	0	0	0	0
Intersegment servicing revenue	0	0	0	0
Tuition payment processing, school information, and campus commerce revenue	0	0	0	0
Enrollment services revenue	19,500	22,936	54,524	65,092
Other income	3,211	3,356	9,107	28,142
Gain on sale of loans and debt repurchases	(11)	0	2,987	0
Derivative market value and foreign currency adjustments, net	(423)	(393)	664	(2,970)
Derivative settlements, net	(255)	(259)	(760)	(767)
Total other income	22,022	25,640	66,522	89,497
Operating expenses:
Salaries and benefits	14,149	13,618	40,729	38,192
Cost to provide enrollment services	12,534	14,178	35,398	41,964
Loan servicing fees	0	0	0	0
Depreciation and amortization	4,291	2,656	11,091	8,523
Other	10,817	12,085	31,676	33,869
Intersegment expenses, net	(13,929)	(10,503)	(40,938)	(32,164)
Total operating expenses	27,862	32,034	77,956	90,384
Income (loss) before income taxes and corporate overhead allocation	(6,018)	(5,826)	(10,665)	1,089
Corporate overhead allocation	4,468	4,449	12,920	12,254
Income before income taxes	(1,550)	(1,377)	2,255	13,343
Income tax (expense) benefit	2,461	4,127	4,257	3,639
Net income	911	2,750	6,512	16,982
Net income attributable to noncontrolling interest	27	157	122	1,363
Net income attributable to Nelnet, Inc.	884	2,593	6,390	15,619
Eliminations [Member]
Segment Reporting Information [Line Items]
Total interest income	(439)	(346)	(1,260)	(1,805)
Interest expense	(439)	(346)	(1,260)	(1,805)
Net interest income	0	0	0	0
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	0	0	0	0
Other income:
Loan and guaranty servicing revenue	(380)	0	(380)	0
Intersegment servicing revenue	(12,027)	(13,432)	(37,121)	(41,453)
Tuition payment processing, school information, and campus commerce revenue	0	0	0	0
Enrollment services revenue	0	0	0	0
Other income	0	0	0	0
Gain on sale of loans and debt repurchases	0	0	0	0
Derivative market value and foreign currency adjustments, net	0	0	0	0
Derivative settlements, net	0	0	0	0
Total other income	(12,407)	(13,432)	(37,501)	(41,453)
Operating expenses:
Salaries and benefits	0	0	0	0
Cost to provide enrollment services	0	0	0	0
Loan servicing fees	0	0	0	0
Depreciation and amortization	0	0	0	0
Other	0	0	0	0
Intersegment expenses, net	(12,407)	(13,432)	(37,501)	(41,453)
Total operating expenses	(12,407)	(13,432)	(37,501)	(41,453)
Income (loss) before income taxes and corporate overhead allocation	0	0	0	0
Corporate overhead allocation	0	0	0	0
Income before income taxes	0	0	0	0
Income tax (expense) benefit	0	0	0	0
Net income	0	0	0	0
Net income attributable to noncontrolling interest	0	0	0	0
Net income attributable to Nelnet, Inc.	$ 0	$ 0	$ 0	$ 0

Major Customer (Details)

Major Customer (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Concentration Risk [Line Items]
Concentration Risk, Customer	Department of Education	Department of Education	Department of Education	Department of Education
Concentration Risk Dollar Value [Member]
Concentration Risk [Line Items]
Loan and guaranty servicing revenue	$ 33.2	$ 31.2	$ 99.3	$ 92.1

Related Party Transactions Tran

Related Party Transactions Transactions with Related Parties - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Student loans receivable	$ 28,954,280	$ 28,954,280	$ 28,005,195
Agile Sports Technologies, Inc. [Member]
Related Party Transaction [Line Items]
Cost Method Investments, Original Cost	$ 40,500	$ 40,500
Parent Company [Member] | Agile Sports Technologies, Inc. [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage	18.70%	18.70%
Board of Directors Chairman [Member] | Agile Sports Technologies, Inc. [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage	2.80%	2.80%
UBT Private Education Loans [Member] | Union Bank and Trust Company [Member]
Related Party Transaction [Line Items]
Student loans receivable	$ 8,500	$ 8,500
Related Party Transaction, Purchases from Related Party	$ 400
UBT Subparticipation [Member] | Union Bank and Trust Company [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amount paid to terminate subparticipation agreement		$ 3,100

Assets and Liabilities that are

Assets and Liabilities that are Measured at Fair Value (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	$ 113,735	$ 149,123
Fair value of derivative instruments	15,741	64,392
Total assets	129,476	213,515
Liabilities, Fair Value Disclosure [Abstract]
Fair value of derivative instruments	80,061	32,842
Total liabilities	80,061	32,842
Student loan asset-backed securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	101,237	145,000
Equity securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	12,177	3,736
Debt securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	321	387
Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	12,498	4,123
Fair value of derivative instruments	0	0
Total assets	12,498	4,123
Liabilities, Fair Value Disclosure [Abstract]
Fair value of derivative instruments	0	0
Total liabilities	0	0
Level 1 [Member] | Student loan asset-backed securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	0	0
Level 1 [Member] | Equity securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	12,177	3,736
Level 1 [Member] | Debt securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	321	387
Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	101,237	145,000
Fair value of derivative instruments	15,741	64,392
Total assets	116,978	209,392
Liabilities, Fair Value Disclosure [Abstract]
Fair value of derivative instruments	80,061	32,842
Total liabilities	80,061	32,842
Level 2 [Member] | Student loan asset-backed securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	101,237	145,000
Level 2 [Member] | Equity securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	0	0
Level 2 [Member] | Debt securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	$ 0	$ 0

Fair Value of Financial Instrum

Fair Value of Financial Instruments (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	$ 28,954,280,000	$ 28,005,195,000
Cash and cash equivalents	114,498,000	130,481,000	$ 74,579,000	$ 63,267,000
Investments (available-for-sale and trading)	236,010,000	235,709,000
Restricted cash - due to customers	100,089,000	118,488,000
Accrued interest receivable	380,441,000	351,588,000
Derivative instruments	15,741,000	64,392,000
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	28,827,603,000	28,027,350,000
Accrued interest payable	31,632,000	25,904,000
Due to customers	100,089,000	118,488,000
Derivative instruments	80,061,000	32,842,000
Fair value [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	29,390,728,000	28,954,226,000
Cash and cash equivalents	114,498,000	130,481,000
Investments (available-for-sale and trading)	113,735,000	149,123,000
Notes Receivable	28,616,000	28,832,000
Restricted cash	886,974,000	800,164,000
Restricted cash - due to customers	100,089,000	118,488,000
Restricted investments	8,297,000	50,276,000
Accrued interest receivable	380,441,000	351,588,000
Derivative instruments	15,741,000	64,392,000
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	28,103,296,000	27,809,997,000
Accrued interest payable	31,632,000	25,904,000
Due to customers	100,089,000	118,488,000
Derivative instruments	80,061,000	32,842,000
Fair value [Member] | Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	0	0
Cash and cash equivalents	114,498,000	130,481,000
Investments (available-for-sale and trading)	12,498,000	4,123,000
Notes Receivable	0	0
Restricted cash	886,974,000	800,164,000
Restricted cash - due to customers	100,089,000	118,488,000
Restricted investments	8,297,000	50,276,000
Accrued interest receivable	0	0
Derivative instruments	0	0
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	0	0
Accrued interest payable	0	0
Due to customers	100,089,000	118,488,000
Derivative instruments	0	0
Fair value [Member] | Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	0	0
Cash and cash equivalents	0	0
Investments (available-for-sale and trading)	101,237,000	145,000,000
Notes Receivable	28,616,000	28,832,000
Restricted cash	0	0
Restricted cash - due to customers	0	0
Restricted investments	0	0
Accrued interest receivable	380,441,000	351,588,000
Derivative instruments	15,741,000	64,392,000
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	28,103,296,000	27,809,997,000
Accrued interest payable	31,632,000	25,904,000
Due to customers	0	0
Derivative instruments	80,061,000	32,842,000
Fair value [Member] | Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	29,390,728,000	28,954,226,000
Cash and cash equivalents	0	0
Investments (available-for-sale and trading)	0	0
Notes Receivable	0	0
Restricted cash	0	0
Restricted cash - due to customers	0	0
Restricted investments	0	0
Accrued interest receivable	0	0
Derivative instruments	0	0
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	0	0
Accrued interest payable	0	0
Due to customers	0	0
Derivative instruments	0	0
Carrying value [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	28,954,280,000	28,005,195,000
Cash and cash equivalents	114,498,000	130,481,000
Investments (available-for-sale and trading)	113,735,000	149,123,000
Notes Receivable	30,964,000	30,643,000
Restricted cash	886,974,000	800,164,000
Restricted cash - due to customers	100,089,000	118,488,000
Restricted investments	8,297,000	50,276,000
Accrued interest receivable	380,441,000	351,588,000
Derivative instruments	15,741,000	64,392,000
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	28,827,603,000	28,027,350,000
Accrued interest payable	31,632,000	25,904,000
Due to customers	100,089,000	118,488,000
Derivative instruments	$ 80,061,000	$ 32,842,000