Nelnet (NNI) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016	Jun. 30, 2016
Document Information [Line Items]
Entity Registrant Name	NELNET INC
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Public Float			$ 781,008,370
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, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		30,684,273
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, 2016	Dec. 31, 2015
Assets:
Student loans receivable (net of allowance for loan losses)	$ 25,615,434	$ 28,324,552
Cash and cash equivalents:
Cash and cash equivalents - not held at a related party	7,678	11,379
Cash and cash equivalents - held at a related party	59,476	52,150
Total cash and cash equivalents	67,154	63,529
Investments and notes receivable	257,528	303,681
Restricted cash and investments	872,874	832,624
Restricted cash - due to customers	91,505	144,771
Accrued interest receivable	381,804	383,825
Accounts receivable (net of allowance for doubtful accounts)	53,408	51,345
Goodwill	147,312	146,000
Intangible assets, net	50,964	51,062
Property and equipment, net	107,505	80,482
Other assets	9,647	8,583
Fair value of derivative instruments	14,476	28,690
Total assets	27,669,611	30,419,144
Liabilities:
Bonds and notes payable	25,320,878	28,105,921
Accrued interest payable	42,840	31,507
Other liabilities	168,239	169,906
Due to customers	91,505	144,771
Fair value of derivative instruments	65,053	74,881
Total liabilities	25,688,515	28,526,986
Nelnet, Inc. shareholders' equity:
Preferred stock	0	0
Additional paid-in capital	224	0
Retained earnings	1,971,862	1,881,708
Accumulated other comprehensive (loss) earnings	(424)	2,284
Total Nelnet, Inc. shareholders' equity	1,972,085	1,884,432
Noncontrolling interest	9,011	7,726
Total equity	1,981,096	1,892,158
Total liabilities and equity	27,669,611	30,419,144
Common Class A [Member]
Nelnet, Inc. shareholders' equity:
Common stock	308	325
Total equity	308	325
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)	25,797,430	28,499,180
Cash and cash equivalents:
Restricted cash and investments	807,313	814,294
Other assets	382,592	384,230
Liabilities:
Bonds and notes payable	25,680,338	28,405,133
Other liabilities	421,983	353,607
Fair value of derivative instruments	39,169	64,080
Equity:
Net assets of consolidated variable interest entities	$ 845,845	$ 874,884

Consolidated Balance Sheets (u3

Consolidated Balance Sheets (unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Allowance for loan losses	$ 51,570	$ 50,498
Allowance for doubtful accounts	$ 1,745	$ 2,003
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	30,839,341	32,476,528
Shares Outstanding	30,839,341	32,476,528
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	11,476,932
Shares Outstanding	11,476,932	11,476,932

Consolidated Statements of Inco

Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015		Sep. 30, 2016	Sep. 30, 2015
Interest income:
Loan interest	$ 193,721	$ 187,701		$ 567,775	$ 535,480
Investment interest	2,460	1,456		6,674	5,548
Total interest income	196,181	189,157	[1]	574,449	541,028	[1]
Interest expense:
Interest on bonds and notes payable	96,386	77,164	[1]	280,847	221,344	[1]
Net interest income	99,795	111,993	[1]	293,602	319,684	[1]
Less provision for loan losses	6,000	3,000	[1]	10,500	7,150	[1]
Net interest income after provision for loan losses	93,795	108,993	[1]	283,102	312,534	[1]
Other income:
Loan and guaranty servicing revenue	54,350	61,520	[1]	161,082	183,164	[1]
Tuition payment processing, school information, and campus commerce revenue	33,071	30,439	[1]	102,211	92,805	[1]
Communications revenue	4,343	0		13,167	0
Enrollment services revenue	0	13,741	[1]	4,326	39,794	[1]
Other income	15,150	12,282	[1]	38,711	35,675	[1]
Gain on sale of loans and debt repurchases, net	2,160	597	[1]	2,260	4,987	[1]
Derivative market value and foreign currency adjustments and derivative settlements, net	36,001	(30,658)		(33,391)	(27,234)
Total other income	145,075	87,921	[1]	288,366	329,191	[1]
Operating expenses:
Salaries and benefits	63,743	63,215	[1]	187,907	183,052	[1]
Depreciation and amortization	8,994	6,977	[1]	24,817	19,140	[1]
Loan servicing fees	5,880	7,793	[1]	20,024	22,829	[1]
Cost to provide communications services	1,784	0		5,169	0
Cost to provide enrollment services	0	11,349		3,623	32,543
Other expenses	26,391	31,604	[1]	84,174	94,430	[1]
Total operating expenses	106,792	120,938	[1]	325,714	351,994	[1]
Income before income taxes	132,078	75,976		245,754	289,731
Income tax expense	(47,715)	(26,999)	[1]	(87,184)	(104,985)	[1]
Net income	84,363	48,977	[1]	158,570	184,746	[1]
Net income attributable to noncontrolling interests	69	22	[1]	165	117	[1]
Net income attributable to Nelnet, Inc.	$ 84,294	$ 48,955	[1]	$ 158,405	$ 184,629	[1]
Earnings per common share:
Net income attributable to Nelnet, Inc. shareholders - basic and diluted	$ 1.98	$ 1.09		$ 3.70	$ 4.03
Weighted average common shares outstanding - basic and diluted	42,642,213	45,047,777		42,788,133	45,763,443
[1]	Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015		Sep. 30, 2016	Sep. 30, 2015
Net income	$ 84,363	$ 48,977	[1]	$ 158,570	$ 184,746	[1]
Available-for-sale securities:
Unrealized holding gains (losses) arising during period, net	3,431	(568)		(4,217)	(1,217)
Reclassification adjustment for gains recognized in net income, net of losses	(491)	(73)		(82)	(2,370)
Income tax effect	(1,087)	234		1,591	1,328
Total other comprehensive income (loss)	1,853	(407)		(2,708)	(2,259)
Comprehensive income	86,216	48,570		155,862	182,487
Comprehensive income attributable to noncontrolling interests	69	22		165	117
Comprehensive income attributable to Nelnet, Inc.	$ 86,147	$ 48,548		$ 155,697	$ 182,370
[1]	Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015.

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, 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	[1]					184,629		117
Other comprehensive (loss) income	(2,259)							(2,259)
Distribution to noncontrolling interests	(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 Stock, Shares Converted				10,000	(10,000)
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	[1]					48,955		22
Other comprehensive (loss) income	(407)							(407)
Distribution to noncontrolling interests	(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 Stock, Shares Converted				10,000	(10,000)
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 Dec. 31, 2015			0	32,476,528	11,476,932
Balance at Dec. 31, 2015	1,892,158		$ 0	$ 325	$ 115	0	1,881,708	2,284	7,726
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interest	1,339								1,339
Net income	158,570						158,405		165
Other comprehensive (loss) income	(2,708)							(2,708)
Distribution to noncontrolling interests	(219)								(219)
Cash dividend on Class A and Class B common stock	(15,293)						(15,293)
Issuance of common stock, net of forfeitures (in Shares)				175,405	0
Issuance of common stock, net of forfeitures	3,944			$ 1	$ 0	3,943
Compensation expense for stock based awards	3,448					3,448
Repurchase of common stock (in Shares)				(1,812,592)	0
Repurchase of common stock	(60,143)			$ (18)	$ 0	(7,167)	(52,958)
Balance (in Shares) at Sep. 30, 2016			0	30,839,341	11,476,932
Balance at Sep. 30, 2016	1,981,096		$ 0	$ 308	$ 115	224	1,971,862	(424)	9,011
Balance (in Shares) at Jun. 30, 2016			0	31,024,230	11,476,932
Balance at Jun. 30, 2016	1,906,216		$ 0	$ 310	$ 115	4,601	1,894,551	(2,277)	8,916
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interest	26								26
Net income	84,363						84,294		69
Other comprehensive (loss) income	1,853							1,853
Cash dividend on Class A and Class B common stock	(5,101)						(5,101)
Issuance of common stock, net of forfeitures (in Shares)				16,662	0
Issuance of common stock, net of forfeitures	282			$ 0	$ 0	282
Compensation expense for stock based awards	1,132					1,132
Repurchase of common stock (in Shares)				(201,551)	0
Repurchase of common stock	(7,675)			$ (2)	$ 0	(5,791)	(1,882)
Balance (in Shares) at Sep. 30, 2016			0	30,839,341	11,476,932
Balance at Sep. 30, 2016	$ 1,981,096		$ 0	$ 308	$ 115	$ 224	$ 1,971,862	$ (424)	$ 9,011
[1]	Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015.

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (unaudited) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Common Class A [Member]
Dividends paid per common share	$ 0.12	$ 0.10	$ 0.24	$ 0.20
Common Class B [Member]
Dividends paid per common share	$ 0.12	$ 0.10	$ 0.24	$ 0.20

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Net income attributable to Nelnet, Inc.	$ 158,405	$ 184,629	[1]
Net income attributable to noncontrolling interests	165	117	[1]
Net income	158,570	184,746	[1]
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	83,988	91,045
Student loan discount accretion	(30,439)	(32,684)
Provision for loan losses	10,500	7,150	[1]
Derivative market value adjustment	1,556	43,179
Foreign currency transaction adjustment	13,543	(32,480)
Proceeds from termination of derivative instruments	2,830	55,627
Increase (Decrease) in Financial Instruments Used in Operating Activities	0	2,936
Gain on sale of loans	0	(351)
Gain from debt repurchases	(2,260)	(4,636)
Loss (gain) from sales of available-for-sale securities, net	(82)	(2,370)
(Payments for) proceeds from (purchases) sales of trading securities, net	1,192	(8,168)
Deferred income tax benefit	(7,633)	(7,901)
Other, net	5,244	6,589
Decrease (increase) in accrued interest receivable	2,021	(435)
Increase in accounts receivable	(1,982)	(14,088)
(Increase) decrease in other assets	(1,141)	1,848
Increase in accrued interest payable	11,333	5,242
Increase in other liabilities	11,587	17,978
Net cash provided by operating activities	258,827	307,355
Cash flows from investing activities, net of acquisitions:
Purchases of student loans and student loan residual interests	(234,270)	(1,994,416)
Net proceeds from student loan repayments, claims, capitalized interest, participations, and other	2,908,738	2,843,119
Proceeds from sale of student loans	44,760	3,996
Purchases of available-for-sale securities	(66,733)	(6,939)
Proceeds from sales of available-for-sale securities	100,423	49,278
Purchases of investments and issuance of notes receivable	(14,912)	(65,548)
Proceeds from investments and notes receivable	12,169	27,773
Purchases of property and equipment, net	(46,821)	(12,756)
(Increase) decrease in restricted cash and investments, net	(39,400)	3,611
Net cash provided by investing activities	2,663,954	848,118
Cash flows from financing activities, net of borrowings assumed:
Payments on bonds and notes payable	(2,998,017)	(3,483,804)
Proceeds from issuance of bonds and notes payable	154,619	2,401,993
Payments of debt issuance costs	(2,098)	(9,859)
Dividends paid	(15,293)	(13,659)
Repurchases of common stock	(60,143)	(66,643)
Proceeds from issuance of common stock	656	617
Issuance of noncontrolling interests	1,339	23
Distribution to noncontrolling interests	(219)	(124)
Net cash used in financing activities	(2,919,156)	(1,171,456)
Net increase (decrease) in cash and cash equivalents	3,625	(15,983)
Cash and cash equivalents, beginning of period	63,529	130,481
Cash and cash equivalents, end of period	67,154	114,498
Cash disbursements made for:
Interest	219,672	165,885
Income taxes, net of refunds	87,633	104,403
Noncash activity:
Investing activity - student loans and other assets acquired	0	2,025,453
Financing activity - borrowings and other liabilities assumed in acquisition of student loans	$ 0	$ 1,885,453
[1]	Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015.

Basis of Financial Reporting

Basis of Financial Reporting	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Reporting	Basis of Presentation The accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the “Company”) as of September 30, 2016 and for the three and nine months ended September 30, 2016 and 2015 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2015 and, in the opinion of the Company’s management, the unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, except as discussed under "Revenue Recognition - Loan Interest Income" below, 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, 2016 are not necessarily indicative of the results for the year ending December 31, 2016 . 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, 2015 (the " 2015 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 are summarized below. • In April 2015, the Financial Accounting Standards Board ("FASB") issued accounting guidance regarding the presentation of debt issuance costs. The new guidance requires that entities present debt issuance costs related to a debt liability as a direct deduction from that liability on the balance sheet. This guidance became effective for the Company beginning January 1, 2016. As a result of this standard, the Company reclassified its debt issuance costs, which were previously included in "other assets" on the consolidated balance sheet, to "bonds and notes payable." • On February 1, 2016, the Company sold 100 percent of the membership interests in Sparkroom LLC, which includes the majority of the Company's inquiry management products and services within Nelnet Enrollment Solutions. The Company retained the digital marketing and content solution products and services under the brand name Peterson's within the Nelnet Enrollment Solutions business, which include test preparation study guides, school directories and databases, career exploration guides, on-line courses, scholarship search and selection data, career planning information and guides, and on-line information about colleges and universities. The Company reclassified the revenue and cost of goods sold attributable to the Peterson's products and services from "enrollment services revenue" and "cost to provide enrollment services" to "other income" and "other expenses," respectively, on the consolidated statements of income. After this reclassification, "enrollment services revenue" and "cost to provide enrollment services" include the operating results of the products and services sold as part of the Sparkroom disposition for all periods presented. These reclassifications had no effect on consolidated net income. Revenue Recognition - Loan Interest Income The Company recognizes student loan interest income as earned, net of amortization of loan premiums and deferred origination costs and the accretion of loan discounts. Loan interest income is recognized based upon the expected yield of the loan after giving effect to interest rate reductions resulting from borrower utilization of incentives such as timely payments ("borrower benefits") and other yield adjustments. Loan premiums or discounts, deferred origination costs, and borrower benefits are amortized/accreted over the estimated life of the loans, which includes an estimate of forecasted payments in excess of contractually required payments. The Company periodically evaluates the assumptions used to estimate the life of the loans and prepayment rates. In the third quarter of 2016, the Company revised its policy to correct for an error in its method of applying the interest method used to amortize premiums and accrete discounts on its student loan portfolio. Previously, the Company amortized premiums and accreted discounts by including in its prepayment assumption forecasted payments in excess of contractually required payments as well as forecasted defaults. The Company has determined that only payments in excess of contractually required payments should be included in the prepayment assumption. Under the Company's revised policy, as of September 30, 2016, the constant prepayment rate used by the Company to amortize/accrete student loan premiums/discounts was decreased. During the third quarter of 2016, the Company recorded an adjustment to reflect the net impact on prior periods for the correction of this error that resulted in an $8.2 million reduction to the Company's net loan discount balance and a corresponding increase in interest income(a $5.2 million after tax increase to net income). The Company has concluded this error has an immaterial impact on 2016 results as well as the results for prior periods.

Student Loans Receivable and Al

Student Loans Receivable and Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2016
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, 2016 December 31, 2015 Federally insured loans: Stafford and other $ 5,353,052 6,202,064 Consolidation 20,189,881 22,086,043 Total 25,542,933 28,288,107 Private education loans 276,432 267,642 25,819,365 28,555,749 Loan discount, net of unamortized loan premiums and deferred origination costs (a) (152,361 ) (180,699 ) Allowance for loan losses – federally insured loans (37,028 ) (35,490 ) Allowance for loan losses – private education loans (14,542 ) (15,008 ) $ 25,615,434 28,324,552 (a) As of September 30, 2016 and December 31, 2015 , "loan discount, net of unamortized loan premiums and deferred origination costs" included $20.8 million and $33.0 million , respectively, of non-accretable discount associated with purchased loans of $8.5 billion and $10.8 billion , respectively. Private Education Loans In February 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 maximum purchase obligation limited to $200.0 million . As of September 30, 2016 , the Company had purchased $190.1 million in private education loans from CommonBond and has satisfied its commitment under this agreement. 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, 2016 2015 2016 2015 Balance at beginning of period $ 48,753 50,024 50,498 48,900 Provision for loan losses: Federally insured loans 7,000 2,000 11,000 6,000 Private education loans (1,000 ) 1,000 (500 ) 1,150 Total provision for loan losses 6,000 3,000 10,500 7,150 Charge-offs: Federally insured loans (3,196 ) (2,817 ) (9,462 ) (9,225 ) Private education loans (320 ) (357 ) (1,235 ) (1,479 ) Total charge-offs (3,516 ) (3,174 ) (10,697 ) (10,704 ) Recoveries - private education loans 243 250 769 742 Purchase (sale) of federally insured and private education loans, net 30 30 290 (200 ) Transfer from repurchase obligation related to private education loans repurchased, net 60 250 210 4,492 Balance at end of period $ 51,570 50,380 51,570 50,380 Allocation of the allowance for loan losses: Federally insured loans $ 37,028 35,945 37,028 35,945 Private education loans 14,542 14,435 14,542 14,435 Total allowance for loan losses $ 51,570 50,380 51,570 50,380 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, 2016 As of December 31, 2015 As of September 30, 2015 Federally insured loans: Loans in-school/grace/deferment $ 1,864,323 $ 2,292,941 $ 2,638,639 Loans in forbearance 2,403,504 2,979,357 2,993,844 Loans in repayment status: Loans current 18,445,728 86.8 % 19,447,541 84.4 % 19,681,517 84.4 % Loans delinquent 31-60 days 825,905 3.9 1,028,396 4.5 1,021,515 4.4 Loans delinquent 61-90 days 491,395 2.3 566,953 2.5 638,037 2.7 Loans delinquent 91-120 days 326,020 1.5 415,747 1.8 465,261 2.0 Loans delinquent 121-270 days 835,250 3.9 1,166,940 5.1 1,139,864 4.9 Loans delinquent 271 days or greater 350,808 1.6 390,232 1.7 376,702 1.6 Total loans in repayment 21,275,106 100.0 % 23,015,809 100.0 % 23,322,896 100.0 % Total federally insured loans $ 25,542,933 $ 28,288,107 $ 28,955,379 Private education loans: Loans in-school/grace/deferment $ 51,042 $ 30,795 $ 7,724 Loans in forbearance 1,770 350 16 Loans in repayment status: Loans current 217,108 97.1 % 228,464 96.7 % 216,502 96.2 % Loans delinquent 31-60 days 1,357 0.6 1,771 0.7 1,999 0.9 Loans delinquent 61-90 days 1,228 0.5 1,283 0.5 1,206 0.5 Loans delinquent 91 days or greater 3,927 1.8 4,979 2.1 5,377 2.4 Total loans in repayment 223,620 100.0 % 236,497 100.0 % 225,084 100.0 % Total private education loans $ 276,432 $ 267,642 $ 232,824

Bonds and Notes Payable

Bonds and Notes Payable	9 Months Ended
	Sep. 30, 2016
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, 2016 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in asset-backed securitizations: Bonds and notes based on indices $ 22,550,964 0.25% - 6.90% 8/26/19 - 9/25/56 Bonds and notes based on auction 1,156,615 1.36% - 2.20% 3/22/32 - 11/26/46 Total variable-rate bonds and notes 23,707,579 FFELP warehouse facilities 1,706,546 0.52% - 0.98% 9/7/18 - 4/26/19 Private education loan warehouse facility 206,632 0.98% 4/28/17 Unsecured line of credit — — 10/30/20 Unsecured debt - Junior Subordinated Hybrid Securities 57,184 4.21% 9/15/61 Other borrowings 93,355 2.03% - 3.38% 10/31/16 - 12/15/45 25,771,296 Discount on bonds and notes payable and debt issuance costs, net (450,418 ) Total $ 25,320,878 As of December 31, 2015 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in asset-backed securitizations: Bonds and notes based on indices $ 25,155,336 0.05% - 6.90% 8/26/19 - 8/26/52 Bonds and notes based on auction 1,160,365 0.88% - 2.17% 3/22/32 - 11/26/46 Total variable-rate bonds and notes 26,315,701 FFELP warehouse facilities 1,855,907 0.27% - 0.56% 4/29/18 - 12/14/18 Private education loan warehouse facility 181,184 0.57% 12/26/16 Unsecured line of credit 100,000 1.79% - 1.92% 10/30/20 Unsecured debt - Junior Subordinated Hybrid Securities 57,184 3.99% 9/15/61 Other borrowings 93,355 1.93% - 3.38% 10/31/16 - 12/15/45 28,603,331 Discount on bonds and notes payable and debt issuance costs, net (497,410 ) Total $ 28,105,921 Asset-backed Securitizations The Company, through its subsidiaries, has historically funded student loans by completing asset-backed securitizations. Beginning in 2015, Fitch Ratings and Moody’s Investors Service placed numerous tranches of Federal Family Education Loan Program ("FFELP") securitizations by various issuers, including certain tranches of prior FFELP securitizations issued by subsidiaries of the Company, on review for potential downgrade due to principal payments and prepayments on the underlying student loans coming in slower than initial expectations, and the resulting risk that certain principal maturities on those FFELP securitizations may not be met by the final maturity dates, which could result in an event of default under the underlying securitization agreements. Since that time, rating agencies have resolved their downgrade watches on certain Company-issued debt through a mix of rating confirmations, downgrades, and upgrades, largely removing uncertainty that had previously prevailed in the student loan asset-backed securitization market. On June 15, 2016, the Company announced the launch of an online investor communication forum to facilitate the amendment of certain FEELP asset-backed securitizations to extend the legal final maturity dates. On September 13, 2016, the Company announced that it had received investor consent to extend by five years the legal final maturity on nine of its securitizations, which represent a total of approximately $4.8 billion in original par value. The effective date of the amendments to each of the nine securitizations was September 20, 2016. The modifications of the final maturity of these securitizations were the only changes to the terms of these securitizations and such modifications were considered not substantial. Depending on future investor consent, the Company may seek to extend the legal final maturity on additional securitizations. 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, 2016 , the Company had three FFELP warehouse facilities as summarized below. NFSLW-I (a) NHELP-II NHELP-III Total Maximum financing amount $ 875,000 500,000 750,000 2,125,000 Amount outstanding 815,550 407,535 483,461 1,706,546 Amount available $ 59,450 92,465 266,539 418,454 Expiration of liquidity provisions July 10, 2018 December 16, 2016 April 28, 2017 Final maturity date September 7, 2018 December 14, 2018 April 26, 2019 Maximum advance rates 92.0 - 98.0% 85.0 - 95.0% 92.2 - 95.0% Minimum advance rates 84.0 - 90.0% 85.0 - 95.0% 92.2 - 95.0% Advanced as equity support $ 33,898 33,561 28,830 96,289 (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. The maximum financing amount was scheduled to decrease by $125.0 million on March 31, 2016. On January 26, 2016, the Company amended the agreement for this warehouse facility to extend the scheduled decrease of the maximum financing amount by $125.0 million to July 8, 2016. On July 7, 2016, the Company amended the agreement for this warehouse facility to permanently set the maximum financing amount at $875.0 million , and changed the expiration of liquidity provisions to July 10, 2018 and the final maturity date to September 7, 2018 . 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, 2016 , there was $206.6 million outstanding on the facility and $68.4 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, ranged from 64 percent to 99 percent . As of September 30, 2016 , $30.3 million was advanced on the facility as equity support. The facility is supported by liquidity provisions, which had an original expiration date of June 24, 2016 . On April 1, 2016, the Company amended the agreement for this facility to change the expiration date for the liquidity provisions to October 28, 2016 , and to change the final maturity date to April 28, 2017 . In addition, the minimum advance rates, depending on loan characteristics and program type, were changed to a range from 61.75 percent to 95.00 percent , and the maximum advance rate on the entire facility remained at 88 percent . On October 28, 2016, the Company amended the agreement for this facility to change the expiration date for the liquidity provisions to December 21, 2016 ; the final maturity date remained unchanged at April 28, 2017. In the event the Company is unable to renew the liquidity provisions by the amended expiration date of December 21, 2016, 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 April 28, 2017. Unsecured Line of Credit The Company has a $350.0 million unsecured line of credit that has a maturity date of October 30, 2020 . As of September 30, 2016 , no amounts were outstanding under the unsecured line of credit and $350.0 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, 2016 September 30, 2015 Asset-backed securities $ 10,965 8,805 2,160 9,650 9,053 597 $ 10,965 8,805 2,160 9,650 9,053 597 Nine months ended September 30, 2016 September 30, 2015 Unsecured debt - Hybrid Securities $ — — — 14,106 11,108 2,998 Asset-backed securities 11,362 9,102 2,260 31,800 30,162 1,638 $ 11,362 9,102 2,260 45,906 41,270 4,636 Subsequent Events - Bonds and Notes Payable On October 12, 2016, the Company completed an asset-backed securitization totaling $426.0 million (par value). The proceeds from this transaction were used primarily to refinance certain student loans included in the Company's FFELP warehouse facilities. The Company had a $75.0 million line of credit, which was collateralized by asset-backed security investments, that expired on October 31, 2016 . As of September 30, 2016 , $75.0 million was outstanding on this line of credit. Upon expiration of the line of credit on October 31, 2016, the Company used operating cash and borrowed money on its $350.0 million unsecured line of credit to pay off the outstanding $75.0 million balance of this debt facility.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2016
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 2015 Annual Report. A tabular presentation of such derivatives outstanding as of September 30, 2016 and December 31, 2015 is presented below. Basis Swaps The following table summarizes the Company’s basis swaps outstanding as of September 30, 2016 and December 31, 2015 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, 2016 2015 Maturity Notional amount Notional amount 2016 $ 1,000,000 $ 7,500,000 2028 125,000 — The weighted average rate paid by the Company on the 1:3 Basis Swaps as of September 30, 2016 and December 31, 2015 was one-month LIBOR plus 9.5 basis points and 10.0 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, 2016 As of December 31, 2015 Maturity Notional amount Weighted average fixed rate paid by the Company (a) Notional amount Weighted average fixed rate paid by the Company (a) 2016 $ — — % $ 1,000,000 0.76 % 2017 750,000 0.99 2,100,000 0.84 2018 1,350,000 1.07 1,600,000 1.08 2019 3,250,000 0.97 500,000 1.12 2020 1,500,000 1.01 — — 2025 100,000 2.32 100,000 2.32 2026 50,000 1.52 — — $ 7,000,000 1.02 % $ 5,300,000 0.95 % (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, 2016 and December 31, 2015 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, 2016 2015 2016 2015 Re-measurement of Euro Notes $ (4,831 ) (1,058 ) (13,543 ) 32,480 Change in fair value of cross-currency interest rate swap 5,501 666 26,194 (35,207 ) Total impact to consolidated statements of income - income (expense) (a) $ 670 (392 ) 12,651 (2,727 ) (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. Management has structured the cross-currency interest rate swap to economically hedge the Euro Notes to effectively convert the Euro Notes to U.S. dollars and pay a spread on these notes based on the LIBOR index. However, the cross-currency interest rate swap does not qualify for hedge accounting. The re-measurement of the Euro-denominated bonds generally correlates with the change in the fair value of the corresponding cross-currency interest rate swap. However, the Company will experience unrealized gains and losses between these financial instruments due to the principal and accrued interest on the Euro Notes being re-measured to U.S. dollars at each reporting date based on the foreign currency exchange rate on that date, while the cross-currency interest rate swap is measured at fair value at each reporting date with the change in fair value recognized in the current period earnings. 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 $ 637 724 — 410 Interest rate swaps - floor income hedges 11,149 21,408 11,148 1,175 Interest rate swap option - floor income hedge 716 3,257 — — Interest rate swaps - hybrid debt hedges — — 11,646 7,646 Interest rate caps 287 1,570 — — Cross-currency interest rate swap — — 39,456 65,650 Other 1,687 1,731 2,803 — Total $ 14,476 28,690 65,053 74,881 During the first quarter of 2016, the Company terminated a total notional amount of $3.1 billion of fixed rate floor income hedges for gross proceeds of $3.0 million , and a total notional amount of $300.0 million of other basis swaps for gross proceeds of $0.5 million . During the third quarter of 2016, the Company terminated a total notional amount of $500.0 million of fixed rate floor income hedges for gross payments of $0.7 million . During the first, second, and third quarters of 2015, the Company terminated a total notional amount of $2.7 billion , $2.8 billion , and $0.7 billion , respectively, of 1:3 Basis Swaps for gross proceeds of $34.4 million , $17.5 million , and $3.7 million , respectively. 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 Net asset (liability) Balance as of September 30, 2016 $ 14,476 (13,944 ) 1,800 2,332 Balance as of December 31, 2015 28,690 (851 ) 1,632 29,471 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 (a) Net asset (liability) Balance as of $ (65,053 ) 13,944 30,596 (20,513 ) Balance as of (74,881 ) 851 13,168 (60,862 ) (a) Cash collateral pledged (received), net as of September 30, 2016 includes $60.9 million of cash collateral paid to counterparties and $30.3 million in cash collateral received from counterparties. 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, 2016 2015 2016 2015 Settlements: 1:3 basis swaps $ 523 179 938 568 Interest rate swaps - floor income hedges (5,157 ) (5,456 ) (15,241 ) (15,490 ) Interest rate swaps - hybrid debt hedges (233 ) (255 ) (696 ) (760 ) Cross-currency interest rate swap (1,394 ) (346 ) (3,293 ) (853 ) Total settlements - expense (6,261 ) (5,878 ) (18,292 ) (16,535 ) Change in fair value: 1:3 basis swaps 140 (1,886 ) 323 10,513 Interest rate swaps - floor income hedges 42,073 (18,935 ) (17,913 ) (16,273 ) Interest rate swap option - floor income hedge (269 ) (2,205 ) (2,541 ) (1,736 ) Interest rate swaps - hybrid debt hedges 13 (1,948 ) (4,000 ) (861 ) Interest rate caps (68 ) (939 ) (1,283 ) (1,140 ) Cross-currency interest rate swap 5,501 666 26,194 (35,207 ) Other (297 ) 1,525 (2,336 ) 1,525 Total change in fair value - income (expense) 47,093 (23,722 ) (1,556 ) (43,179 ) Re-measurement of Euro Notes (foreign currency transaction adjustment) - (expense) income (4,831 ) (1,058 ) (13,543 ) 32,480 Derivative market value and foreign currency adjustments and derivative settlements, net - income (expense) $ 36,001 (30,658 ) (33,391 ) (27,234 )

Investments and Notes Receivabl

Investments and Notes Receivable	9 Months Ended
	Sep. 30, 2016
Investments [Abstract]
Investments	Investments and Notes Receivable A summary of the Company's investments and notes receivable follows: As of September 30, 2016 As of December 31, 2015 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) $ 112,324 2,128 (4,547 ) 109,905 139,970 3,402 (1,362 ) 142,010 Equity securities 720 1,811 (65 ) 2,466 846 1,686 (100 ) 2,432 Total available-for-sale investments $ 113,044 3,939 (4,612 ) 112,371 140,816 5,088 (1,462 ) 144,442 Trading investments: Student loan asset-backed securities — 6,045 Equity securities 253 4,905 Total trading investments 253 10,950 Total available-for-sale and trading investments 112,624 155,392 Other Investments and Notes Receivable (not measured at fair value): Venture capital and funds 64,481 63,323 Real estate 50,246 50,463 Notes receivable 17,031 18,473 Tax liens and affordable housing 13,146 16,030 Total investments and notes receivable $ 257,528 303,681 (a) As of September 30, 2016 , 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, 2016 , 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.

Business Combinations Business

Business Combinations Business Combinations (Notes)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Business Combination Allo Communications LLC ("Allo") On December 31, 2015, the Company purchased 92.5 percent of the ownership interests of Allo for total cash consideration of $46.25 million . On January 1, 2016, the Company sold a 1.0 percent ownership interest in Allo to a non-related third-party for $0.5 million . The remaining 7.5 percent of the ownership interests of Allo is owned by members of Allo management, who have the opportunity to earn an additional 11.5 percent (up to 19 percent ) of the total ownership interests based on the financial performance of Allo. The additional ownership interests that Allo management has the opportunity to earn are based on their continued employment with Allo. Accordingly, the value associated with the ownership interests issued to these employees of $1.0 million will be recognized by Allo as compensation expense over the performance period. Allo provides pure fiber optic service to homes and businesses for internet, television, and telephone services. The acquisition of Allo provides additional diversification of the Company's revenues and cash flows outside of education. In addition, the acquisition leverages the Company's existing infrastructure, customer service capabilities and call centers, and financial strength and liquidity for continued growth. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. During the first quarter of 2016, the Company recognized certain adjustments to the provisional amounts recorded at December 31, 2015 that were needed to reflect new information obtained about facts and circumstances that existed as of the acquisition date. The net impact of these adjustments was an increase to goodwill, and the adjustments had no impact on operating results. Cash and cash equivalents $ 334 Restricted cash and investments 850 Accounts receivable 1,935 Property and equipment 32,479 Other assets 371 Intangible assets 11,410 Excess cost over fair value of net assets acquired (goodwill) 21,112 Other liabilities (4,587 ) Bonds and notes payable (13,904 ) Net assets acquired 50,000 Minority interest (3,750 ) Total consideration paid by the Company $ 46,250 The $11.4 million of acquired intangible assets on the date of acquisition had a weighted-average useful life of approximately 12 years. The intangible assets that made up this amount included customer relationships of $6.3 million ( 10 -year useful life) and a trade name of $5.1 million ( 15 -year useful life). The $21.1 million of goodwill was assigned to the Communications operating segment and is expected to be deductible for tax purposes. The amount allocated to goodwill was primarily attributable to future customers to be generated through the continued expansion of Allo's services in rural markets. The proforma impacts of the acquisition on the Company's historical results prior to the acquisition were not material. Allo recognizes revenue when (i) persuasive evidence of an arrangement exists between Allo and the customer, (ii) delivery of the product to the customer has occurred or service has been provided to the customer, (iii) the price to the customer is fixed or determinable, and (iv) collectability of the sales price is reasonably assured. Revenues based on a flat fee, derived principally from internet, television, and telephone services are billed in advance and recognized in subsequent periods when the services are provided. Revenues for usage-based services, such as access charges billed to other telephone carriers for originating and terminating long-distance calls on Allo's network, are billed in arrears. Allo recognizes revenue from these services in the period the services are rendered rather than billed. Earned but unbilled usage-based services are recorded in accounts receivable.

Intangible Assets Intangible As

Intangible Assets Intangible Assets	9 Months Ended
	Sep. 30, 2016
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, 2016 (months) As of September 30, 2016 As of December 31, 2015 Amortizable intangible assets: Customer relationships (net of accumulated amortization of $7,261 and $4,028, respectively) 170 $ 29,623 27,576 Computer software (net of accumulated amortization of $8,236 and $4,397, respectively) 28 10,712 11,601 Trade names (net of accumulated amortization of $1,439 and $795, respectively) 192 10,133 10,687 Content (net of accumulated amortization of $1,575 and $900, respectively) 3 225 900 Covenants not to compete (net of accumulated amortization of $83 and $56, respectively) 92 271 298 Total - amortizable intangible assets 143 $ 50,964 51,062 The Company recorded amortization expense on its intangible assets of $3.2 million and $2.4 million during the three months ended September 30, 2016 and 2015 , respectively, and $8.4 million and $7.2 million during the nine months ended September 30, 2016 and 2015 , respectively. The Company will continue to amortize intangible assets over their remaining useful lives. As of September 30, 2016 , the Company estimates it will record amortization expense as follows: 2016 (October 1 - December 31) $ 3,151 2017 9,386 2018 8,605 2019 5,147 2020 4,231 2021 and thereafter 20,444 $ 50,964 The change in the carrying amount of goodwill by reportable operating segment was as follows: Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Communications Asset Generation and Management Corporate and Other Activities Total Balance as of December 31, 2015 $ 8,596 67,168 19,800 41,883 8,553 146,000 Allo purchase price adjustment — — 1,312 — — 1,312 Balance as of September 30, 2016 $ 8,596 67,168 21,112 41,883 8,553 147,312

Property Plant and Equipment Pr

Property Plant and Equipment Property Plant and Equipment (Notes)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Property and Equipment Property and equipment consisted of the following: As of September 30, 2016 As of December 31, 2015 Useful life Non-communications: Computer equipment and software 1-5 years $ 96,871 89,093 Office furniture and equipment 3-7 years 12,349 12,638 Building and building improvements 5-39 years 13,515 12,239 Transportation equipment 4-10 years 3,817 3,868 Leasehold improvements 5-20 years 3,614 3,545 Land — 1,704 700 Construction in progress — 10,124 1,210 141,994 123,293 Accumulated depreciation - non-communications 88,523 77,188 Non-communications, net property and equipment 53,471 46,105 Communications: Network plant and fiber 5-15 years 33,053 25,669 Central office 5-15 years 5,806 909 Customer located property 5-10 years 4,723 6,912 Transportation equipment 4-10 years 2,258 470 Computer equipment and software 1-5 years 1,772 74 Other 1-20 years 866 343 Land — 70 — Construction in progress — 8,578 — 57,126 34,377 Accumulated depreciation - communications 3,092 — Communications, net property and equipment 54,034 34,377 Total property and equipment, net $ 107,505 80,482 Depreciation expense for the three months ended September 30, 2016 and 2015 related to property and equipment was $5.8 million and $4.6 million , respectively, and $16.4 million and $11.9 million during the nine months ended September 30, 2016 and 2015 , respectively.

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Sep. 30, 2016
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, 2016 2015 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 83,419 875 84,294 48,436 519 48,955 Denominator: Weighted-average common shares outstanding - basic and diluted 42,199,580 442,633 42,642,213 44,570,519 477,258 45,047,777 Earnings per share - basic and diluted $ 1.98 1.98 1.98 1.09 1.09 1.09 Nine months ended September 30, 2016 2015 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 156,749 1,656 158,405 182,664 1,965 184,629 Denominator: Weighted-average common shares outstanding - basic and diluted 42,340,867 447,266 42,788,133 45,276,376 487,067 45,763,443 Earnings per share - basic and diluted $ 3.70 3.70 3.70 4.03 4.03 4.03 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, 2016
Segment Reporting [Abstract]
Segment Reporting	See note 14 of the notes to consolidated financial statements included in the 2015 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. Prior to January 1, 2016, the Company allocated certain corporate overhead expenses that are incurred within the Corporate and Other Activities segment to the other operating segments. These expenses included certain corporate activities related to executive management, internal audit, enterprise risk management, and other costs incurred by the Company due to corporate-wide initiatives. Effective January 1, 2016, internal reporting to executive management (the "chief operating decision maker") changed to eliminate the allocation of these expenses to the other segments. Management believes the change in its allocation methodology results in a better reflection of the operating results of each of the reportable segments as if they each operated as a standalone business entity, which also reflects how management evaluates the performance of the segments. Prior period segment operating results have been restated to conform to the current period presentation. Three months ended September 30, 2016 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Communications Asset Corporate and Other Activities Eliminations Total Total interest income $ 37 2 — 194,701 2,370 (930 ) 196,181 Interest expense — — 318 95,383 1,615 (930 ) 96,386 Net interest income 37 2 (318 ) 99,318 755 — 99,795 Less provision for loan losses — — — 6,000 — — 6,000 Net interest income (loss) after provision for loan losses 37 2 (318 ) 93,318 755 — 93,795 Other income: Loan and guaranty servicing revenue 54,350 — — — — — 54,350 Intersegment servicing revenue 11,021 — — — — (11,021 ) — Tuition payment processing, school information, and campus commerce revenue — 33,071 — — — — 33,071 Communications revenue — — 4,343 — — — 4,343 Other income — — — 4,265 10,886 — 15,150 Gain on sale of loans and debt repurchases, net — — — 2,160 — — 2,160 Derivative market value and foreign currency adjustments, net — — — 42,546 (284 ) — 42,262 Derivative settlements, net — — — (6,028 ) (233 ) — (6,261 ) Total other income 65,371 33,071 4,343 42,943 10,369 (11,021 ) 145,075 Operating expenses: Salaries and benefits 32,505 15,979 2,325 486 12,448 — 63,743 Depreciation and amortization 557 2,929 1,630 — 3,878 — 8,994 Loan servicing fees — — — 5,880 — — 5,880 Cost to provide communications services — — 1,784 — — — 1,784 Other expenses 8,784 4,149 1,545 1,769 10,143 — 26,391 Intersegment expenses, net 5,825 1,616 279 11,146 (7,845 ) (11,021 ) — Total operating expenses 47,671 24,673 7,563 19,281 18,624 (11,021 ) 106,792 Income (loss) before income taxes 17,737 8,400 (3,538 ) 116,980 (7,500 ) — 132,078 Income tax (expense) benefit (6,740 ) (3,192 ) 1,344 (44,571 ) 5,443 — (47,715 ) Net income (loss) 10,997 5,208 (2,194 ) 72,409 (2,057 ) — 84,363 Net income attributable to noncontrolling interests — — — — 69 — 69 Net income (loss) attributable to Nelnet, Inc. $ 10,997 5,208 (2,194 ) 72,409 (2,126 ) — 84,294 Three months ended September 30, 2015 (a) Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other 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 (loss) 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 — — — 13,741 — 13,741 Other income — — 3,312 8,970 — 12,282 Gain (loss) on sale of loans and debt repurchases, net — — 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 Depreciation and amortization 484 2,202 — 4,291 — 6,977 Loan servicing fees — — 7,793 — — 7,793 Cost to provide enrollment services — — — 11,349 — 11,349 Other expenses 14,602 3,579 1,421 12,002 — 31,604 Intersegment expenses, net 7,513 2,246 12,544 (9,895 ) (12,407 ) — Total operating expenses 57,124 22,010 22,316 31,896 (12,407 ) 120,938 Income (loss) before income taxes 16,817 8,429 60,781 (10,052 ) — 75,976 Income tax (expense) benefit (6,390 ) (3,204 ) (23,096 ) 5,691 — (26,999 ) Net income (loss) 10,427 5,225 37,685 (4,361 ) — 48,977 Net income attributable to noncontrolling interests (5 ) — — 27 — 22 Net income (loss) attributable to Nelnet, Inc. $ 10,432 5,225 37,685 (4,388 ) — 48,955 (a) Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015. Nine months ended September 30, 2016 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Communications Asset Generation and Management Corporate and Other Eliminations Total Total interest income $ 80 7 1 570,390 6,527 (2,556 ) 574,449 Interest expense — — 671 278,029 4,702 (2,556 ) 280,847 Net interest income 80 7 (670 ) 292,361 1,825 — 293,602 Less provision for loan losses — — — 10,500 — — 10,500 Net interest income (loss) after provision for loan losses 80 7 (670 ) 281,861 1,825 — 283,102 Other income: Loan and guaranty servicing revenue 161,082 — — — — — 161,082 Intersegment servicing revenue 34,436 — — — — (34,436 ) — Tuition payment processing, school information, and campus commerce revenue — 102,211 — — — — 102,211 Communications revenue — — 13,167 — — — 13,167 Enrollment services revenue — — — — 4,326 — 4,326 Other income — — — 12,362 26,349 — 38,711 Gain on sale of loans and debt repurchases, net — — — 2,260 — — 2,260 Derivative market value and foreign currency adjustments, net — — — (8,763 ) (6,336 ) — (15,099 ) Derivative settlements, net — — — (17,596 ) (696 ) — (18,292 ) Total other income 195,518 102,211 13,167 (11,737 ) 23,643 (34,436 ) 288,366 Operating expenses: Salaries and benefits 96,851 45,859 4,792 1,504 38,902 — 187,907 Depreciation and amortization 1,440 7,711 4,137 — 11,528 — 24,817 Loan servicing fees — — — 20,024 — — 20,024 Cost to provide communications services — — 5,169 — — — 5,169 Cost to provide enrollment services — — — — 3,623 — 3,623 Other expenses 31,635 13,122 3,110 4,766 31,540 — 84,174 Intersegment expenses, net 18,168 4,690 610 34,791 (23,823 ) (34,436 ) — Total operating expenses 148,094 71,382 17,818 61,085 61,770 (34,436 ) 325,714 Income (loss) before income taxes 47,504 30,836 (5,321 ) 209,039 (36,302 ) — 245,754 Income tax (expense) benefit (18,052 ) (11,718 ) 2,022 (79,434 ) 19,998 — (87,184 ) Net income (loss) 29,452 19,118 (3,299 ) 129,605 (16,304 ) — 158,570 Net income attributable to noncontrolling interests — — — — 165 — 165 Net income (loss) attributable to Nelnet, Inc. $ 29,452 19,118 (3,299 ) 129,605 (16,469 ) — 158,405 Nine months ended September 30, 2015 (a) Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset 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 — — — 39,794 — 39,794 Other income — — 11,838 23,837 — 35,675 Gain on sale of loans and debt repurchases, net — — 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 Depreciation and amortization 1,457 6,592 — 11,091 — 19,140 Loan servicing fees — — 22,829 — — 22,829 Cost to provide enrollment services — — — 32,543 — 32,543 Other expenses 44,578 11,493 3,828 34,531 — 94,430 Intersegment expenses, net 22,200 6,444 37,913 (29,056 ) (37,501 ) — Total operating expenses 168,048 65,416 66,193 89,838 (37,501 ) 351,994 Income (loss) before income taxes 52,651 27,392 232,235 (22,547 ) — 289,731 Income tax (expense) benefit (20,007 ) (10,410 ) (88,248 ) 13,680 — (104,985 ) Net income (loss) 32,644 16,982 143,987 (8,867 ) — 184,746 Net income attributable to noncontrolling interests (5 ) — — 122 — 117 Net income (loss) attributable to Nelnet, Inc. $ 32,649 16,982 143,987 (8,989 ) — 184,629 (a) Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015 .

Major Customer

Major Customer	9 Months Ended
	Sep. 30, 2016
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 (the "Department") 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 $40.2 million and $33.2 million for the three months ended September 30, 2016 and 2015 , respectively, and $112.5 million and $99.3 million for the nine months ended September 30, 2016 and 2015 , respectively. In April 2016, the Department's Office of Federal Student Aid released information regarding a new contract procurement process for the Department to acquire a single servicing platform to support the management of federal student financial aid, including the servicing of all student loans owned by the Department. The contract solicitation process is divided into two phases. Responses for Phase I were due on May 9, 2016. On May 6, 2016, the Company and Great Lakes Educational Loan Services, Inc. ("Great Lakes") submitted a joint response to Phase I as part of a newly created joint venture to respond to the contract solicitation process and to provide services under the new contract in the event that the Department selects it to be awarded with the contract. The joint venture will operate as a new legal entity called GreatNet Solutions, LLC ("GreatNet"). The Company and Great Lakes each own 50 percent of the ownership interests of GreatNet. In addition to the Company, Great Lakes is currently one of four private sector companies (referred to as Title IV Additional Servicers, or "TIVAS") that currently has a student loan servicing contract with the Department to provide servicing for loans owned by the Department. On June 30, 2016, the Department announced which entities were selected to respond to Phase II of the procurement selection process. GreatNet was one of three entities selected. On October 26, 2016, the Department released the Phase II solicitation for its new single servicer contract. Responses for Phase II are due December 12, 2016. The Department anticipates the servicing system contract will be awarded by February 2017.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2016
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, 2016 . As of September 30, 2016 As of December 31, 2015 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Investments (available-for-sale and trading): Student loan asset-backed securities $ — 109,783 109,783 — 147,925 147,925 Equity securities 2,719 — 2,719 7,337 — 7,337 Debt securities 122 — 122 130 — 130 Total investments (available-for-sale and trading) 2,841 109,783 112,624 7,467 147,925 155,392 Fair value of derivative instruments — 14,476 14,476 — 28,690 28,690 Total assets $ 2,841 124,259 127,100 7,467 176,615 184,082 Liabilities: Fair value of derivative instruments $ — 65,053 65,053 — 74,881 74,881 Total liabilities $ — 65,053 65,053 — 74,881 74,881 The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets: As of September 30, 2016 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 26,145,847 25,615,434 — — 26,145,847 Cash and cash equivalents 67,154 67,154 67,154 — — Investments (available-for-sale and trading) 112,624 112,624 2,841 109,783 — Notes receivable 17,031 17,031 — 17,031 — Restricted cash 866,582 866,582 866,582 — — Restricted cash – due to customers 91,505 91,505 91,505 — — Restricted investments 6,292 6,292 6,292 — — Accrued interest receivable 381,804 381,804 — 381,804 — Derivative instruments 14,476 14,476 — 14,476 — Financial liabilities: Bonds and notes payable 24,750,721 25,320,878 — 24,750,721 — Accrued interest payable 42,840 42,840 — 42,840 — Due to customers 91,505 91,505 91,505 — — Derivative instruments 65,053 65,053 — 65,053 — As of December 31, 2015 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 28,611,350 28,324,552 — — 28,611,350 Cash and cash equivalents 63,529 63,529 63,529 — — Investments (available-for-sale and trading) 155,392 155,392 7,467 147,925 — Notes receivable 18,067 18,473 — 18,067 — Restricted cash 823,450 823,450 823,450 — — Restricted cash – due to customers 144,771 144,771 144,771 — — Restricted investments 9,174 9,174 9,174 — — Accrued interest receivable 383,825 383,825 — 383,825 — Derivative instruments 28,690 28,690 — 28,690 — Financial liabilities: Bonds and notes payable 27,150,775 28,105,921 — 27,150,775 — Accrued interest payable 31,507 31,507 — 31,507 — Due to customers 144,771 144,771 144,771 — — Derivative instruments 74,881 74,881 — 74,881 — The methodologies for estimating the fair value of financial assets and liabilities are described in note 20 of the notes to consolidated financial statements included in the 2015 Annual Report.

Basis of Financial Reporting Si

Basis of Financial Reporting Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Reporting	Basis of Presentation The accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the “Company”) as of September 30, 2016 and for the three and nine months ended September 30, 2016 and 2015 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2015 and, in the opinion of the Company’s management, the unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, except as discussed under "Revenue Recognition - Loan Interest Income" below, 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, 2016 are not necessarily indicative of the results for the year ending December 31, 2016 . 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, 2015 (the " 2015 Annual Report").
Revenue Recognition, Interest [Policy Text Block]	Revenue Recognition - Loan Interest Income The Company recognizes student loan interest income as earned, net of amortization of loan premiums and deferred origination costs and the accretion of loan discounts. Loan interest income is recognized based upon the expected yield of the loan after giving effect to interest rate reductions resulting from borrower utilization of incentives such as timely payments ("borrower benefits") and other yield adjustments. Loan premiums or discounts, deferred origination costs, and borrower benefits are amortized/accreted over the estimated life of the loans, which includes an estimate of forecasted payments in excess of contractually required payments. The Company periodically evaluates the assumptions used to estimate the life of the loans and prepayment rates. In the third quarter of 2016, the Company revised its policy to correct for an error in its method of applying the interest method used to amortize premiums and accrete discounts on its student loan portfolio. Previously, the Company amortized premiums and accreted discounts by including in its prepayment assumption forecasted payments in excess of contractually required payments as well as forecasted defaults. The Company has determined that only payments in excess of contractually required payments should be included in the prepayment assumption. Under the Company's revised policy, as of September 30, 2016, the constant prepayment rate used by the Company to amortize/accrete student loan premiums/discounts was decreased. During the third quarter of 2016, the Company recorded an adjustment to reflect the net impact on prior periods for the correction of this error that resulted in an $8.2 million reduction to the Company's net loan discount balance and a corresponding increase in interest income(a $5.2 million after tax increase to net income). The Company has concluded this error has an immaterial impact on 2016 results as well as the results for prior periods.

Business Combinations Revenue R

Business Combinations Revenue Recognition (Policies)	9 Months Ended
	Sep. 30, 2016
Business Acquisition [Line Items]
Revenue Recognition, Policy [Policy Text Block]	Allo recognizes revenue when (i) persuasive evidence of an arrangement exists between Allo and the customer, (ii) delivery of the product to the customer has occurred or service has been provided to the customer, (iii) the price to the customer is fixed or determinable, and (iv) collectability of the sales price is reasonably assured. Revenues based on a flat fee, derived principally from internet, television, and telephone services are billed in advance and recognized in subsequent periods when the services are provided. Revenues for usage-based services, such as access charges billed to other telephone carriers for originating and terminating long-distance calls on Allo's network, are billed in arrears. Allo recognizes revenue from these services in the period the services are rendered rather than billed. Earned but unbilled usage-based services are recorded in accounts receivable.

Student Loans Receivable and 23

Student Loans Receivable and Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Student loans receivable consisted of the following: As of As of September 30, 2016 December 31, 2015 Federally insured loans: Stafford and other $ 5,353,052 6,202,064 Consolidation 20,189,881 22,086,043 Total 25,542,933 28,288,107 Private education loans 276,432 267,642 25,819,365 28,555,749 Loan discount, net of unamortized loan premiums and deferred origination costs (a) (152,361 ) (180,699 ) Allowance for loan losses – federally insured loans (37,028 ) (35,490 ) Allowance for loan losses – private education loans (14,542 ) (15,008 ) $ 25,615,434 28,324,552 (a) As of September 30, 2016 and December 31, 2015 , "loan discount, net of unamortized loan premiums and deferred origination costs" included $20.8 million and $33.0 million , respectively, of non-accretable discount associated with purchased loans of $8.5 billion and $10.8 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, 2016 2015 2016 2015 Balance at beginning of period $ 48,753 50,024 50,498 48,900 Provision for loan losses: Federally insured loans 7,000 2,000 11,000 6,000 Private education loans (1,000 ) 1,000 (500 ) 1,150 Total provision for loan losses 6,000 3,000 10,500 7,150 Charge-offs: Federally insured loans (3,196 ) (2,817 ) (9,462 ) (9,225 ) Private education loans (320 ) (357 ) (1,235 ) (1,479 ) Total charge-offs (3,516 ) (3,174 ) (10,697 ) (10,704 ) Recoveries - private education loans 243 250 769 742 Purchase (sale) of federally insured and private education loans, net 30 30 290 (200 ) Transfer from repurchase obligation related to private education loans repurchased, net 60 250 210 4,492 Balance at end of period $ 51,570 50,380 51,570 50,380 Allocation of the allowance for loan losses: Federally insured loans $ 37,028 35,945 37,028 35,945 Private education loans 14,542 14,435 14,542 14,435 Total allowance for loan losses $ 51,570 50,380 51,570 50,380
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, 2016 As of December 31, 2015 As of September 30, 2015 Federally insured loans: Loans in-school/grace/deferment $ 1,864,323 $ 2,292,941 $ 2,638,639 Loans in forbearance 2,403,504 2,979,357 2,993,844 Loans in repayment status: Loans current 18,445,728 86.8 % 19,447,541 84.4 % 19,681,517 84.4 % Loans delinquent 31-60 days 825,905 3.9 1,028,396 4.5 1,021,515 4.4 Loans delinquent 61-90 days 491,395 2.3 566,953 2.5 638,037 2.7 Loans delinquent 91-120 days 326,020 1.5 415,747 1.8 465,261 2.0 Loans delinquent 121-270 days 835,250 3.9 1,166,940 5.1 1,139,864 4.9 Loans delinquent 271 days or greater 350,808 1.6 390,232 1.7 376,702 1.6 Total loans in repayment 21,275,106 100.0 % 23,015,809 100.0 % 23,322,896 100.0 % Total federally insured loans $ 25,542,933 $ 28,288,107 $ 28,955,379 Private education loans: Loans in-school/grace/deferment $ 51,042 $ 30,795 $ 7,724 Loans in forbearance 1,770 350 16 Loans in repayment status: Loans current 217,108 97.1 % 228,464 96.7 % 216,502 96.2 % Loans delinquent 31-60 days 1,357 0.6 1,771 0.7 1,999 0.9 Loans delinquent 61-90 days 1,228 0.5 1,283 0.5 1,206 0.5 Loans delinquent 91 days or greater 3,927 1.8 4,979 2.1 5,377 2.4 Total loans in repayment 223,620 100.0 % 236,497 100.0 % 225,084 100.0 % Total private education loans $ 276,432 $ 267,642 $ 232,824

Bonds and Notes payable (Tables

Bonds and Notes payable (Tables)	9 Months Ended
	Sep. 30, 2016
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, 2016 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in asset-backed securitizations: Bonds and notes based on indices $ 22,550,964 0.25% - 6.90% 8/26/19 - 9/25/56 Bonds and notes based on auction 1,156,615 1.36% - 2.20% 3/22/32 - 11/26/46 Total variable-rate bonds and notes 23,707,579 FFELP warehouse facilities 1,706,546 0.52% - 0.98% 9/7/18 - 4/26/19 Private education loan warehouse facility 206,632 0.98% 4/28/17 Unsecured line of credit — — 10/30/20 Unsecured debt - Junior Subordinated Hybrid Securities 57,184 4.21% 9/15/61 Other borrowings 93,355 2.03% - 3.38% 10/31/16 - 12/15/45 25,771,296 Discount on bonds and notes payable and debt issuance costs, net (450,418 ) Total $ 25,320,878 As of December 31, 2015 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in asset-backed securitizations: Bonds and notes based on indices $ 25,155,336 0.05% - 6.90% 8/26/19 - 8/26/52 Bonds and notes based on auction 1,160,365 0.88% - 2.17% 3/22/32 - 11/26/46 Total variable-rate bonds and notes 26,315,701 FFELP warehouse facilities 1,855,907 0.27% - 0.56% 4/29/18 - 12/14/18 Private education loan warehouse facility 181,184 0.57% 12/26/16 Unsecured line of credit 100,000 1.79% - 1.92% 10/30/20 Unsecured debt - Junior Subordinated Hybrid Securities 57,184 3.99% 9/15/61 Other borrowings 93,355 1.93% - 3.38% 10/31/16 - 12/15/45 28,603,331 Discount on bonds and notes payable and debt issuance costs, net (497,410 ) Total $ 28,105,921
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, 2016 , the Company had three FFELP warehouse facilities as summarized below. NFSLW-I (a) NHELP-II NHELP-III Total Maximum financing amount $ 875,000 500,000 750,000 2,125,000 Amount outstanding 815,550 407,535 483,461 1,706,546 Amount available $ 59,450 92,465 266,539 418,454 Expiration of liquidity provisions July 10, 2018 December 16, 2016 April 28, 2017 Final maturity date September 7, 2018 December 14, 2018 April 26, 2019 Maximum advance rates 92.0 - 98.0% 85.0 - 95.0% 92.2 - 95.0% Minimum advance rates 84.0 - 90.0% 85.0 - 95.0% 92.2 - 95.0% Advanced as equity support $ 33,898 33,561 28,830 96,289 (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. The maximum financing amount was scheduled to decrease by $125.0 million on March 31, 2016. On January 26, 2016, the Company amended the agreement for this warehouse facility to extend the scheduled decrease of the maximum financing amount by $125.0 million to July 8, 2016
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, 2016 September 30, 2015 Asset-backed securities $ 10,965 8,805 2,160 9,650 9,053 597 $ 10,965 8,805 2,160 9,650 9,053 597 Nine months ended September 30, 2016 September 30, 2015 Unsecured debt - Hybrid Securities $ — — — 14,106 11,108 2,998 Asset-backed securities 11,362 9,102 2,260 31,800 30,162 1,638 $ 11,362 9,102 2,260 45,906 41,270 4,636

Derivative Financial Instrume25

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
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, 2016 and December 31, 2015 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, 2016 2015 Maturity Notional amount Notional amount 2016 $ 1,000,000 $ 7,500,000 2028 125,000 — The weighted average rate paid by the Company on the 1:3 Basis Swaps as of September 30, 2016 and December 31, 2015 was one-month LIBOR plus 9.5 basis points and 10.0 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, 2016 As of December 31, 2015 Maturity Notional amount Weighted average fixed rate paid by the Company (a) Notional amount Weighted average fixed rate paid by the Company (a) 2016 $ — — % $ 1,000,000 0.76 % 2017 750,000 0.99 2,100,000 0.84 2018 1,350,000 1.07 1,600,000 1.08 2019 3,250,000 0.97 500,000 1.12 2020 1,500,000 1.01 — — 2025 100,000 2.32 100,000 2.32 2026 50,000 1.52 — — $ 7,000,000 1.02 % $ 5,300,000 0.95 % (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, 2016 and December 31, 2015 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	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, 2016 2015 2016 2015 Re-measurement of Euro Notes $ (4,831 ) (1,058 ) (13,543 ) 32,480 Change in fair value of cross-currency interest rate swap 5,501 666 26,194 (35,207 ) Total impact to consolidated statements of income - income (expense) (a) $ 670 (392 ) 12,651 (2,727 ) (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. Management has structured the cross-currency interest rate swap to economically hedge the Euro Notes to effectively convert the Euro Notes to U.S. dollars and pay a spread on these notes based on the LIBOR index. However, the cross-currency interest rate swap does not qualify for hedge accounting. The re-measurement of the Euro-denominated bonds generally correlates with the change in the fair value of the corresponding cross-currency interest rate swap. However, the Company will experience unrealized gains and losses between these financial instruments due to the principal and accrued interest on the Euro Notes being re-measured to U.S. dollars at each reporting date based on the foreign currency exchange rate on that date, while the cross-currency interest rate swap is measured at fair value at each reporting date with the change in fair value recognized in the current period earnings.
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 $ 637 724 — 410 Interest rate swaps - floor income hedges 11,149 21,408 11,148 1,175 Interest rate swap option - floor income hedge 716 3,257 — — Interest rate swaps - hybrid debt hedges — — 11,646 7,646 Interest rate caps 287 1,570 — — Cross-currency interest rate swap — — 39,456 65,650 Other 1,687 1,731 2,803 — Total $ 14,476 28,690 65,053 74,881 During the first quarter of 2016, the Company terminated a total notional amount of $3.1 billion of fixed rate floor income hedges for gross proceeds of $3.0 million , and a total notional amount of $300.0 million of other basis swaps for gross proceeds of $0.5 million . During the third quarter of 2016, the Company terminated a total notional amount of $500.0 million of fixed rate floor income hedges for gross payments of $0.7 million . During the first, second, and third quarters of 2015, the Company terminated a total notional amount of $2.7 billion , $2.8 billion , and $0.7 billion , respectively, of 1:3 Basis Swaps for gross proceeds of $34.4 million
Schedule of Derivative Instruments [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 Net asset (liability) Balance as of September 30, 2016 $ 14,476 (13,944 ) 1,800 2,332 Balance as of December 31, 2015 28,690 (851 ) 1,632 29,471 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 (a) Net asset (liability) Balance as of $ (65,053 ) 13,944 30,596 (20,513 ) Balance as of (74,881 ) 851 13,168 (60,862 )
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, 2016 2015 2016 2015 Settlements: 1:3 basis swaps $ 523 179 938 568 Interest rate swaps - floor income hedges (5,157 ) (5,456 ) (15,241 ) (15,490 ) Interest rate swaps - hybrid debt hedges (233 ) (255 ) (696 ) (760 ) Cross-currency interest rate swap (1,394 ) (346 ) (3,293 ) (853 ) Total settlements - expense (6,261 ) (5,878 ) (18,292 ) (16,535 ) Change in fair value: 1:3 basis swaps 140 (1,886 ) 323 10,513 Interest rate swaps - floor income hedges 42,073 (18,935 ) (17,913 ) (16,273 ) Interest rate swap option - floor income hedge (269 ) (2,205 ) (2,541 ) (1,736 ) Interest rate swaps - hybrid debt hedges 13 (1,948 ) (4,000 ) (861 ) Interest rate caps (68 ) (939 ) (1,283 ) (1,140 ) Cross-currency interest rate swap 5,501 666 26,194 (35,207 ) Other (297 ) 1,525 (2,336 ) 1,525 Total change in fair value - income (expense) 47,093 (23,722 ) (1,556 ) (43,179 ) Re-measurement of Euro Notes (foreign currency transaction adjustment) - (expense) income (4,831 ) (1,058 ) (13,543 ) 32,480 Derivative market value and foreign currency adjustments and derivative settlements, net - income (expense) $ 36,001 (30,658 ) (33,391 ) (27,234 )

Investments and Notes Receiva26

Investments and Notes Receivable (Tables)	9 Months Ended
	Sep. 30, 2016
Investments [Abstract]
Summary Investment Holdings	A summary of the Company's investments and notes receivable follows: As of September 30, 2016 As of December 31, 2015 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) $ 112,324 2,128 (4,547 ) 109,905 139,970 3,402 (1,362 ) 142,010 Equity securities 720 1,811 (65 ) 2,466 846 1,686 (100 ) 2,432 Total available-for-sale investments $ 113,044 3,939 (4,612 ) 112,371 140,816 5,088 (1,462 ) 144,442 Trading investments: Student loan asset-backed securities — 6,045 Equity securities 253 4,905 Total trading investments 253 10,950 Total available-for-sale and trading investments 112,624 155,392 Other Investments and Notes Receivable (not measured at fair value): Venture capital and funds 64,481 63,323 Real estate 50,246 50,463 Notes receivable 17,031 18,473 Tax liens and affordable housing 13,146 16,030 Total investments and notes receivable $ 257,528 303,681 (a) As of September 30, 2016 , 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, 2016 , 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.

Business Combinations Busines27

Business Combinations Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2016
Business Acquisition [Line Items]
Fair Value, by Balance Sheet Grouping	Cash and cash equivalents $ 334 Restricted cash and investments 850 Accounts receivable 1,935 Property and equipment 32,479 Other assets 371 Intangible assets 11,410 Excess cost over fair value of net assets acquired (goodwill) 21,112 Other liabilities (4,587 ) Bonds and notes payable (13,904 ) Net assets acquired 50,000 Minority interest (3,750 ) Total consideration paid by the Company $ 46,250 The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets: As of September 30, 2016 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 26,145,847 25,615,434 — — 26,145,847 Cash and cash equivalents 67,154 67,154 67,154 — — Investments (available-for-sale and trading) 112,624 112,624 2,841 109,783 — Notes receivable 17,031 17,031 — 17,031 — Restricted cash 866,582 866,582 866,582 — — Restricted cash – due to customers 91,505 91,505 91,505 — — Restricted investments 6,292 6,292 6,292 — — Accrued interest receivable 381,804 381,804 — 381,804 — Derivative instruments 14,476 14,476 — 14,476 — Financial liabilities: Bonds and notes payable 24,750,721 25,320,878 — 24,750,721 — Accrued interest payable 42,840 42,840 — 42,840 — Due to customers 91,505 91,505 91,505 — — Derivative instruments 65,053 65,053 — 65,053 — As of December 31, 2015 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 28,611,350 28,324,552 — — 28,611,350 Cash and cash equivalents 63,529 63,529 63,529 — — Investments (available-for-sale and trading) 155,392 155,392 7,467 147,925 — Notes receivable 18,067 18,473 — 18,067 — Restricted cash 823,450 823,450 823,450 — — Restricted cash – due to customers 144,771 144,771 144,771 — — Restricted investments 9,174 9,174 9,174 — — Accrued interest receivable 383,825 383,825 — 383,825 — Derivative instruments 28,690 28,690 — 28,690 — Financial liabilities: Bonds and notes payable 27,150,775 28,105,921 — 27,150,775 — Accrued interest payable 31,507 31,507 — 31,507 — Due to customers 144,771 144,771 144,771 — — Derivative instruments 74,881 74,881 — 74,881 —

Intangible Assets Intangible 28

Intangible Assets Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
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, 2016 (months) As of September 30, 2016 As of December 31, 2015 Amortizable intangible assets: Customer relationships (net of accumulated amortization of $7,261 and $4,028, respectively) 170 $ 29,623 27,576 Computer software (net of accumulated amortization of $8,236 and $4,397, respectively) 28 10,712 11,601 Trade names (net of accumulated amortization of $1,439 and $795, respectively) 192 10,133 10,687 Content (net of accumulated amortization of $1,575 and $900, respectively) 3 225 900 Covenants not to compete (net of accumulated amortization of $83 and $56, respectively) 92 271 298 Total - amortizable intangible assets 143 $ 50,964 51,062
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	The Company recorded amortization expense on its intangible assets of $3.2 million and $2.4 million during the three months ended September 30, 2016 and 2015 , respectively, and $8.4 million and $7.2 million during the nine months ended September 30, 2016 and 2015 , respectively. The Company will continue to amortize intangible assets over their remaining useful lives. As of September 30, 2016 , the Company estimates it will record amortization expense as follows: 2016 (October 1 - December 31) $ 3,151 2017 9,386 2018 8,605 2019 5,147 2020 4,231 2021 and thereafter 20,444 $ 50,964
Schedule of Goodwill [Table Text Block]	Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Communications Asset Generation and Management Corporate and Other Activities Total Balance as of December 31, 2015 $ 8,596 67,168 19,800 41,883 8,553 146,000 Allo purchase price adjustment — — 1,312 — — 1,312 Balance as of September 30, 2016 $ 8,596 67,168 21,112 41,883 8,553 147,312

Property Plant and Equipment 29

Property Plant and Equipment Property Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property and equipment consisted of the following: As of September 30, 2016 As of December 31, 2015 Useful life Non-communications: Computer equipment and software 1-5 years $ 96,871 89,093 Office furniture and equipment 3-7 years 12,349 12,638 Building and building improvements 5-39 years 13,515 12,239 Transportation equipment 4-10 years 3,817 3,868 Leasehold improvements 5-20 years 3,614 3,545 Land — 1,704 700 Construction in progress — 10,124 1,210 141,994 123,293 Accumulated depreciation - non-communications 88,523 77,188 Non-communications, net property and equipment 53,471 46,105 Communications: Network plant and fiber 5-15 years 33,053 25,669 Central office 5-15 years 5,806 909 Customer located property 5-10 years 4,723 6,912 Transportation equipment 4-10 years 2,258 470 Computer equipment and software 1-5 years 1,772 74 Other 1-20 years 866 343 Land — 70 — Construction in progress — 8,578 — 57,126 34,377 Accumulated depreciation - communications 3,092 — Communications, net property and equipment 54,034 34,377 Total property and equipment, net $ 107,505 80,482

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three months ended September 30, 2016 2015 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 83,419 875 84,294 48,436 519 48,955 Denominator: Weighted-average common shares outstanding - basic and diluted 42,199,580 442,633 42,642,213 44,570,519 477,258 45,047,777 Earnings per share - basic and diluted $ 1.98 1.98 1.98 1.09 1.09 1.09 Nine months ended September 30, 2016 2015 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 156,749 1,656 158,405 182,664 1,965 184,629 Denominator: Weighted-average common shares outstanding - basic and diluted 42,340,867 447,266 42,788,133 45,276,376 487,067 45,763,443 Earnings per share - basic and diluted $ 3.70 3.70 3.70 4.03 4.03 4.03

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	See note 14 of the notes to consolidated financial statements included in the 2015 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. Prior to January 1, 2016, the Company allocated certain corporate overhead expenses that are incurred within the Corporate and Other Activities segment to the other operating segments. These expenses included certain corporate activities related to executive management, internal audit, enterprise risk management, and other costs incurred by the Company due to corporate-wide initiatives. Effective January 1, 2016, internal reporting to executive management (the "chief operating decision maker") changed to eliminate the allocation of these expenses to the other segments. Management believes the change in its allocation methodology results in a better reflection of the operating results of each of the reportable segments as if they each operated as a standalone business entity, which also reflects how management evaluates the performance of the segments. Prior period segment operating results have been restated to conform to the current period presentation. Three months ended September 30, 2016 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Communications Asset Corporate and Other Activities Eliminations Total Total interest income $ 37 2 — 194,701 2,370 (930 ) 196,181 Interest expense — — 318 95,383 1,615 (930 ) 96,386 Net interest income 37 2 (318 ) 99,318 755 — 99,795 Less provision for loan losses — — — 6,000 — — 6,000 Net interest income (loss) after provision for loan losses 37 2 (318 ) 93,318 755 — 93,795 Other income: Loan and guaranty servicing revenue 54,350 — — — — — 54,350 Intersegment servicing revenue 11,021 — — — — (11,021 ) — Tuition payment processing, school information, and campus commerce revenue — 33,071 — — — — 33,071 Communications revenue — — 4,343 — — — 4,343 Other income — — — 4,265 10,886 — 15,150 Gain on sale of loans and debt repurchases, net — — — 2,160 — — 2,160 Derivative market value and foreign currency adjustments, net — — — 42,546 (284 ) — 42,262 Derivative settlements, net — — — (6,028 ) (233 ) — (6,261 ) Total other income 65,371 33,071 4,343 42,943 10,369 (11,021 ) 145,075 Operating expenses: Salaries and benefits 32,505 15,979 2,325 486 12,448 — 63,743 Depreciation and amortization 557 2,929 1,630 — 3,878 — 8,994 Loan servicing fees — — — 5,880 — — 5,880 Cost to provide communications services — — 1,784 — — — 1,784 Other expenses 8,784 4,149 1,545 1,769 10,143 — 26,391 Intersegment expenses, net 5,825 1,616 279 11,146 (7,845 ) (11,021 ) — Total operating expenses 47,671 24,673 7,563 19,281 18,624 (11,021 ) 106,792 Income (loss) before income taxes 17,737 8,400 (3,538 ) 116,980 (7,500 ) — 132,078 Income tax (expense) benefit (6,740 ) (3,192 ) 1,344 (44,571 ) 5,443 — (47,715 ) Net income (loss) 10,997 5,208 (2,194 ) 72,409 (2,057 ) — 84,363 Net income attributable to noncontrolling interests — — — — 69 — 69 Net income (loss) attributable to Nelnet, Inc. $ 10,997 5,208 (2,194 ) 72,409 (2,126 ) — 84,294 Three months ended September 30, 2015 (a) Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset Generation and Management Corporate and Other 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 (loss) 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 — — — 13,741 — 13,741 Other income — — 3,312 8,970 — 12,282 Gain (loss) on sale of loans and debt repurchases, net — — 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 Depreciation and amortization 484 2,202 — 4,291 — 6,977 Loan servicing fees — — 7,793 — — 7,793 Cost to provide enrollment services — — — 11,349 — 11,349 Other expenses 14,602 3,579 1,421 12,002 — 31,604 Intersegment expenses, net 7,513 2,246 12,544 (9,895 ) (12,407 ) — Total operating expenses 57,124 22,010 22,316 31,896 (12,407 ) 120,938 Income (loss) before income taxes 16,817 8,429 60,781 (10,052 ) — 75,976 Income tax (expense) benefit (6,390 ) (3,204 ) (23,096 ) 5,691 — (26,999 ) Net income (loss) 10,427 5,225 37,685 (4,361 ) — 48,977 Net income attributable to noncontrolling interests (5 ) — — 27 — 22 Net income (loss) attributable to Nelnet, Inc. $ 10,432 5,225 37,685 (4,388 ) — 48,955 (a) Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015. Nine months ended September 30, 2016 Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Communications Asset Generation and Management Corporate and Other Eliminations Total Total interest income $ 80 7 1 570,390 6,527 (2,556 ) 574,449 Interest expense — — 671 278,029 4,702 (2,556 ) 280,847 Net interest income 80 7 (670 ) 292,361 1,825 — 293,602 Less provision for loan losses — — — 10,500 — — 10,500 Net interest income (loss) after provision for loan losses 80 7 (670 ) 281,861 1,825 — 283,102 Other income: Loan and guaranty servicing revenue 161,082 — — — — — 161,082 Intersegment servicing revenue 34,436 — — — — (34,436 ) — Tuition payment processing, school information, and campus commerce revenue — 102,211 — — — — 102,211 Communications revenue — — 13,167 — — — 13,167 Enrollment services revenue — — — — 4,326 — 4,326 Other income — — — 12,362 26,349 — 38,711 Gain on sale of loans and debt repurchases, net — — — 2,260 — — 2,260 Derivative market value and foreign currency adjustments, net — — — (8,763 ) (6,336 ) — (15,099 ) Derivative settlements, net — — — (17,596 ) (696 ) — (18,292 ) Total other income 195,518 102,211 13,167 (11,737 ) 23,643 (34,436 ) 288,366 Operating expenses: Salaries and benefits 96,851 45,859 4,792 1,504 38,902 — 187,907 Depreciation and amortization 1,440 7,711 4,137 — 11,528 — 24,817 Loan servicing fees — — — 20,024 — — 20,024 Cost to provide communications services — — 5,169 — — — 5,169 Cost to provide enrollment services — — — — 3,623 — 3,623 Other expenses 31,635 13,122 3,110 4,766 31,540 — 84,174 Intersegment expenses, net 18,168 4,690 610 34,791 (23,823 ) (34,436 ) — Total operating expenses 148,094 71,382 17,818 61,085 61,770 (34,436 ) 325,714 Income (loss) before income taxes 47,504 30,836 (5,321 ) 209,039 (36,302 ) — 245,754 Income tax (expense) benefit (18,052 ) (11,718 ) 2,022 (79,434 ) 19,998 — (87,184 ) Net income (loss) 29,452 19,118 (3,299 ) 129,605 (16,304 ) — 158,570 Net income attributable to noncontrolling interests — — — — 165 — 165 Net income (loss) attributable to Nelnet, Inc. $ 29,452 19,118 (3,299 ) 129,605 (16,469 ) — 158,405 Nine months ended September 30, 2015 (a) Student Loan and Guaranty Servicing Tuition Payment Processing and Campus Commerce Asset 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 — — — 39,794 — 39,794 Other income — — 11,838 23,837 — 35,675 Gain on sale of loans and debt repurchases, net — — 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 Depreciation and amortization 1,457 6,592 — 11,091 — 19,140 Loan servicing fees — — 22,829 — — 22,829 Cost to provide enrollment services — — — 32,543 — 32,543 Other expenses 44,578 11,493 3,828 34,531 — 94,430 Intersegment expenses, net 22,200 6,444 37,913 (29,056 ) (37,501 ) — Total operating expenses 168,048 65,416 66,193 89,838 (37,501 ) 351,994 Income (loss) before income taxes 52,651 27,392 232,235 (22,547 ) — 289,731 Income tax (expense) benefit (20,007 ) (10,410 ) (88,248 ) 13,680 — (104,985 ) Net income (loss) 32,644 16,982 143,987 (8,867 ) — 184,746 Net income attributable to noncontrolling interests (5 ) — — 122 — 117 Net income (loss) attributable to Nelnet, Inc. $ 32,649 16,982 143,987 (8,989 ) — 184,629 (a) Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015 .

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2016
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, 2016 . As of September 30, 2016 As of December 31, 2015 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Investments (available-for-sale and trading): Student loan asset-backed securities $ — 109,783 109,783 — 147,925 147,925 Equity securities 2,719 — 2,719 7,337 — 7,337 Debt securities 122 — 122 130 — 130 Total investments (available-for-sale and trading) 2,841 109,783 112,624 7,467 147,925 155,392 Fair value of derivative instruments — 14,476 14,476 — 28,690 28,690 Total assets $ 2,841 124,259 127,100 7,467 176,615 184,082 Liabilities: Fair value of derivative instruments $ — 65,053 65,053 — 74,881 74,881 Total liabilities $ — 65,053 65,053 — 74,881 74,881
Fair Value, by Balance Sheet Grouping	Cash and cash equivalents $ 334 Restricted cash and investments 850 Accounts receivable 1,935 Property and equipment 32,479 Other assets 371 Intangible assets 11,410 Excess cost over fair value of net assets acquired (goodwill) 21,112 Other liabilities (4,587 ) Bonds and notes payable (13,904 ) Net assets acquired 50,000 Minority interest (3,750 ) Total consideration paid by the Company $ 46,250 The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets: As of September 30, 2016 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 26,145,847 25,615,434 — — 26,145,847 Cash and cash equivalents 67,154 67,154 67,154 — — Investments (available-for-sale and trading) 112,624 112,624 2,841 109,783 — Notes receivable 17,031 17,031 — 17,031 — Restricted cash 866,582 866,582 866,582 — — Restricted cash – due to customers 91,505 91,505 91,505 — — Restricted investments 6,292 6,292 6,292 — — Accrued interest receivable 381,804 381,804 — 381,804 — Derivative instruments 14,476 14,476 — 14,476 — Financial liabilities: Bonds and notes payable 24,750,721 25,320,878 — 24,750,721 — Accrued interest payable 42,840 42,840 — 42,840 — Due to customers 91,505 91,505 91,505 — — Derivative instruments 65,053 65,053 — 65,053 — As of December 31, 2015 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 28,611,350 28,324,552 — — 28,611,350 Cash and cash equivalents 63,529 63,529 63,529 — — Investments (available-for-sale and trading) 155,392 155,392 7,467 147,925 — Notes receivable 18,067 18,473 — 18,067 — Restricted cash 823,450 823,450 823,450 — — Restricted cash – due to customers 144,771 144,771 144,771 — — Restricted investments 9,174 9,174 9,174 — — Accrued interest receivable 383,825 383,825 — 383,825 — Derivative instruments 28,690 28,690 — 28,690 — Financial liabilities: Bonds and notes payable 27,150,775 28,105,921 — 27,150,775 — Accrued interest payable 31,507 31,507 — 31,507 — Due to customers 144,771 144,771 144,771 — — Derivative instruments 74,881 74,881 — 74,881 —

Basis of Financial Reporting Re

Basis of Financial Reporting Reclassifications (Details)	9 Months Ended
	Sep. 30, 2016
Sale of subsidiary [Line Items]
Percent of membership interest sold	100.00%

Basis of Financial Reporting 34

Basis of Financial Reporting Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	[1]	Sep. 30, 2016	Sep. 30, 2015	[1]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	$ 84,363	$ 48,977		$ 158,570	$ 184,746
Immaterial error correction adjustment [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Reduction to the Company's net loan discount balance	8,200			$ 8,200
Net income	$ 5,200
[1]	Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015.

Student Loans Receivable (Detai

Student Loans Receivable (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		$ 51,570	$ 48,753	$ 50,498	$ 50,380	$ 50,024	$ 48,900
Student loans receivable		25,615,434		28,324,552
Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		37,028			35,945
Private education loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		14,542			$ 14,435
held for investment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		25,819,365		28,555,749
Loan discount, net of unamortized loan premiums and deferred origination costs	[1]	152,361		180,699
Student loans receivable		25,615,434		28,324,552
held for investment [Member] | Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		25,542,933		28,288,107
Allowance for loan losses		37,028		35,490
held for investment [Member] | Private education loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		276,432		267,642
Allowance for loan losses		14,542		15,008
held for investment [Member] | Stafford and Other [Member] | Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		5,353,052		6,202,064
held for investment [Member] | Consolidation Loans [Member] | Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		20,189,881		22,086,043
Non-accretable discount [Member] | held for investment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		8,500,000		10,800,000
Loan discount, net of unamortized loan premiums and deferred origination costs		20,800		$ 33,000
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
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		$ 190,100
[1]	As of September 30, 2016 and December 31, 2015, "loan discount, net of unamortized loan premiums and deferred origination costs" included $20.8 million and $33.0 million, respectively, of non-accretable discount associated with purchased loans of $8.5 billion and $10.8 billion, respectively.

Student Loans Receivable and 36

Student Loans Receivable and Allowance for Loan Losses Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015		Sep. 30, 2016	Sep. 30, 2015
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for loan losses - balance	$ 48,753	$ 50,024		$ 50,498	$ 48,900
Provision for loan losses	6,000	3,000	[1]	10,500	7,150	[1]
Charge-offs	(3,516)	(3,174)		(10,697)	(10,704)
Purchase (sale) of federally insured and private education loans, net	30	(30)		290	(200)
Allowance for loan losses - balance	51,570	50,380		51,570	50,380
Federally insured loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for loan losses	7,000	2,000		11,000	6,000
Charge-offs	(3,196)	(2,817)		(9,462)	(9,225)
Allowance for loan losses - balance	37,028	35,945		37,028	35,945
Private education loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for loan losses	(1,000)	1,000		(500)	1,150
Charge-offs	(320)	(357)		(1,235)	(1,479)
Recoveries - private education loans	243	250		769	742
Transfer from repurchase obligation related to private education loans repurchased, net	60	250		210	4,492
Allowance for loan losses - balance	$ 14,542	$ 14,435		$ 14,542	$ 14,435
[1]	Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015.

Student Loans Receivable and 37

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, 2016	Sep. 30, 2015	Dec. 31, 2015
Federally insured loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 1,864,323	$ 2,638,639	$ 2,292,941
Loans in forbearance	2,403,504	2,993,844	2,979,357
Student loans receivable, gross	25,542,933	28,955,379	28,288,107
Loans in repayment status:
Loans current	$ 18,445,728	$ 19,681,517	$ 19,447,541
Loans current, percentage	86.80%	84.40%	84.40%
Total loans in repayment	$ 21,275,106	$ 23,322,896	$ 23,015,809
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	$ 51,042	$ 7,724	$ 30,795
Loans in forbearance	1,770	16	350
Student loans receivable, gross	276,432	232,824	267,642
Loans in repayment status:
Loans current	$ 217,108	$ 216,502	$ 228,464
Loans current, percentage	97.10%	96.20%	96.70%
Total loans in repayment	$ 223,620	$ 225,084	$ 236,497
Total loans in repayment, percentage	100.00%	100.00%	100.00%
Financing Receivables, 31 to 60 Days Past Due [Member] [Member] | Federally insured loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 825,905	$ 1,021,515	$ 1,028,396
Financing Receivable, Percent Past Due	3.90%	4.40%	4.50%
Financing Receivables, 31 to 60 Days Past Due [Member] [Member] | Private education loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 1,357	$ 1,999	$ 1,771
Financing Receivable, Percent Past Due	0.60%	0.90%	0.70%
Financing Receivables, 61 to 90 Days Past Due [Member] | Federally insured loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 491,395	$ 638,037	$ 566,953
Financing Receivable, Percent Past Due	2.30%	2.70%	2.50%
Financing Receivables, 61 to 90 Days Past Due [Member] | Private education loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 1,228	$ 1,206	$ 1,283
Financing Receivable, Percent Past Due	0.50%	0.50%	0.50%
Financing receivables, 91-120 days past due [Member] | Federally insured loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 326,020	$ 465,261	$ 415,747
Financing Receivable, Percent Past Due	1.50%	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	$ 835,250	$ 1,139,864	$ 1,166,940
Financing Receivable, Percent Past Due	3.90%	4.90%	5.10%
Financing receivables, 271 days or greater past due [Member] | Federally insured loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 350,808	$ 376,702	$ 390,232
Financing Receivable, Percent Past Due	1.60%	1.60%	1.70%
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	$ 3,927	$ 5,377	$ 4,979
Financing Receivable, Percent Past Due	1.80%	2.40%	2.10%

Outstanding Debt Obligations (D

Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Bonds and notes payable	$ 25,320,878	$ 28,105,921
Discount on bonds and notes payable and debt issuance costs, net	(450,418)	(497,410)
Variable-rate bonds and notes [Member]
Debt Instrument [Line Items]
Bonds and notes payable	23,707,579	26,315,701
Bonds and notes based on indices [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 22,550,964	$ 25,155,336
Bonds and notes based on indices [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.30%	0.05%
Debt Instrument, Maturity Date	Aug. 26, 2019	Aug. 26, 2019
Bonds and notes based on indices [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.90%	6.90%
Debt Instrument, Maturity Date	Sep. 25, 2056	Aug. 26, 2052
Bonds and notes based on auction or remarketing [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 1,156,615	$ 1,160,365
Bonds and notes based on auction or remarketing [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.36%	0.88%
Debt Instrument, Maturity Date	Mar. 22, 2032	Mar. 22, 2032
Bonds and notes based on auction or remarketing [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.20%	2.17%
Debt Instrument, Maturity Date	Nov. 26, 2046	Nov. 26, 2046
Warehouse facilities [Member] | FFELP Warehouse Total [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 1,706,546	$ 1,855,907
Warehouse facilities [Member] | FFELP Warehouse Total [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.52%	0.27%
Debt Instrument, Maturity Date	Sep. 7, 2018	Apr. 29, 2018
Warehouse facilities [Member] | FFELP Warehouse Total [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.98%	0.56%
Debt Instrument, Maturity Date	Apr. 26, 2019	Dec. 14, 2018
Warehouse facilities [Member] | Private education loans [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 206,632	$ 181,184
Warehouse facilities [Member] | Private education loans [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.98%	0.57%
Debt Instrument, Maturity Date	Apr. 28, 2017	Dec. 26, 2016
Warehouse facilities [Member] | Private education loans [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.98%	0.57%
Debt Instrument, Maturity Date	Apr. 28, 2017	Dec. 26, 2016
Line of Credit [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 0	$ 100,000
Line of Credit [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.00%	1.79%
Debt Instrument, Maturity Date	Oct. 30, 2020	Oct. 30, 2020
Line of Credit [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.00%	1.92%
Debt Instrument, Maturity Date	Oct. 30, 2020	Oct. 30, 2020
Junior Subordinated Debt [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 57,184	$ 57,184
Junior Subordinated Debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.21%	3.99%
Debt Instrument, Maturity Date	Sep. 15, 2061	Sep. 15, 2061
Junior Subordinated Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.21%	3.99%
Debt Instrument, Maturity Date	Sep. 15, 2061	Sep. 15, 2061
Other borrowings [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 93,355	$ 93,355
Other borrowings [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.03%	1.93%
Debt Instrument, Maturity Date	Oct. 31, 2016	Oct. 31, 2016
Other borrowings [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.38%	3.38%
Debt Instrument, Maturity Date	Dec. 15, 2045	Dec. 25, 2045
Bonds and notes payable, gross [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 25,771,296	$ 28,603,331
Value of asset backed securities with modified maturity [Member] | Bonds and notes based on indices [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 4,800,000

Bonds and Notes Payable Outstan

Bonds and Notes Payable Outstanding Lines of Credit (Details) - USD ($)	Oct. 31, 2016	Oct. 28, 2016	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Line of Credit Facility [Line Items]
Extinguishment of Debt, Amount			$ 10,965,000		$ 9,650,000	$ 11,362,000	$ 45,906,000
Unsecured Line of Credit [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			350,000,000			350,000,000
Amount outstanding			0			0
Amount available			350,000,000			$ 350,000,000
Debt Instrument, Maturity Date						Oct. 30, 2020
Secured Line of Credit [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			75,000,000			$ 75,000,000
Amount outstanding			75,000,000			$ 75,000,000
Debt Instrument, Maturity Date						Oct. 31, 2016
Subsequent Event [Member] | Secured Line of Credit [Member]
Line of Credit Facility [Line Items]
Extinguishment of Debt, Amount	$ 75,000,000
FFELP Warehouse Total [Member] | Warehouse facilities [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			2,125,000,000			$ 2,125,000,000
Amount outstanding			1,706,546,000			1,706,546,000
Amount available			418,454,000			418,454,000
Advanced as equity support			96,289,000			96,289,000
FFELP Warehouse Total [Member] | Warehouse facilities [Member] | NHELP-III Warehouse [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			750,000,000			750,000,000
Amount outstanding			483,461,000			483,461,000
Amount available			266,539,000			$ 266,539,000
Expiration of liquidity provisions						Apr. 28, 2017
Debt Instrument, Maturity Date						Apr. 26, 2019
Advanced as equity support			28,830,000			$ 28,830,000
FFELP Warehouse Total [Member] | Warehouse facilities [Member] | NFSLW-I Warehouse [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			875,000,000			875,000,000
Amount outstanding			815,550,000			815,550,000
Amount available			59,450,000			$ 59,450,000
Expiration of liquidity provisions						Jul. 10, 2018
Debt Instrument, Maturity Date						Sep. 7, 2018
Expected decrease in financing amount			0	$ 125,000,000		$ 0
Advanced as equity support			33,898,000			33,898,000
FFELP Warehouse Total [Member] | Warehouse facilities [Member] | NHELP-II Warehouse [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			500,000,000			500,000,000
Amount outstanding			407,535,000			407,535,000
Amount available			92,465,000			$ 92,465,000
Expiration of liquidity provisions						Dec. 16, 2016
Debt Instrument, Maturity Date						Dec. 14, 2018
Advanced as equity support			$ 33,561,000			$ 33,561,000
FFELP Warehouse Total [Member] | Minimum [Member] | Warehouse facilities [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Maturity Date						Sep. 7, 2018		Apr. 29, 2018
FFELP Warehouse Total [Member] | Minimum [Member] | Warehouse facilities [Member] | NHELP-III Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates			92.15%			92.15%
Maximum advance rates			92.15%			92.15%
FFELP Warehouse Total [Member] | Minimum [Member] | Warehouse facilities [Member] | NFSLW-I Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates			84.00%			84.00%
Maximum advance rates			92.00%			92.00%
FFELP Warehouse Total [Member] | Minimum [Member] | Warehouse facilities [Member] | NHELP-II Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates			85.00%			85.00%
Maximum advance rates			85.00%			85.00%
FFELP Warehouse Total [Member] | Maximum [Member] | Warehouse facilities [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Maturity Date						Apr. 26, 2019		Dec. 14, 2018
FFELP Warehouse Total [Member] | Maximum [Member] | Warehouse facilities [Member] | NHELP-III Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates			95.00%			95.00%
Maximum advance rates			95.00%			95.00%
FFELP Warehouse Total [Member] | Maximum [Member] | Warehouse facilities [Member] | NFSLW-I Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates			90.00%			90.00%
Maximum advance rates			98.00%			98.00%
FFELP Warehouse Total [Member] | Maximum [Member] | Warehouse facilities [Member] | NHELP-II Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates			95.00%			95.00%
Maximum advance rates			95.00%			95.00%
Private Loan Warehouse Total [Member] | Warehouse facilities [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			$ 275,000,000			$ 275,000,000
Amount outstanding			206,600,000			206,600,000
Amount available			$ 68,400,000			68,400,000
Expiration of liquidity provisions			Oct. 28, 2016	Jun. 24, 2016
Debt Instrument, Maturity Date			Apr. 28, 2017
Advanced as equity support			$ 30,300,000			$ 30,300,000
Maximum advance rates			88.00%	88.00%		88.00%
Private Loan Warehouse Total [Member] | Minimum [Member] | Warehouse facilities [Member]
Line of Credit Facility [Line Items]
Minimum advance rates			61.75%	64.00%		61.75%
Private Loan Warehouse Total [Member] | Maximum [Member] | Warehouse facilities [Member]
Line of Credit Facility [Line Items]
Minimum advance rates			95.00%	99.00%		95.00%
Private Loan Warehouse Total [Member] | Subsequent Event [Member] | Warehouse facilities [Member]
Line of Credit Facility [Line Items]
Expiration of liquidity provisions		Dec. 21, 2016

Bonds and Notes Payable Gain on

Bonds and Notes Payable Gain on debt repurchases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Amount	$ 10,965	$ 9,650	$ 11,362	$ 45,906
Debt Instrument, Repurchase price	8,805	9,053	9,102	41,270
Gain (Loss) on Repurchase of Debt Instrument	2,160	597	2,260	4,636
Unsecured Debt [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Amount			0	14,106
Debt Instrument, Repurchase price			0	11,108
Gain (Loss) on Repurchase of Debt Instrument			0	2,998
Asset-backed Securities [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Amount	10,965	9,650	11,362	31,800
Debt Instrument, Repurchase price	8,805	9,053	9,102	30,162
Gain (Loss) on Repurchase of Debt Instrument	$ 2,160	$ 597	$ 2,260	$ 1,638

Derivative Financial Instrume41

Derivative Financial Instruments Outstanding (Details) - USD ($) $ in Thousands		9 Months Ended		12 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Derivative [Line Items]
Increase (Decrease) in Financial Instruments Used in Operating Activities		$ 0	$ 2,936
Bonds and notes payable		$ 25,320,878		$ 28,105,921
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		0.095%		0.10%
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]
Derivative [Line Items]
Derivative, Notional Amount		$ 7,000,000		$ 5,300,000
Derivative, Average Fixed Interest Rate	[1]	1.02%		0.95%
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] | Maturity 2016 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 0		$ 1,000,000
Derivative, Average Fixed Interest Rate	[1]	0.00%		0.76%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Maturity 2017 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 750,000		$ 2,100,000
Derivative, Average Fixed Interest Rate	[1]	0.99%		0.84%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Maturity 2018 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 1,350,000		$ 1,600,000
Derivative, Average Fixed Interest Rate	[1]	1.07%		1.08%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Maturity 2019 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 3,250,000		$ 500,000
Derivative, Average Fixed Interest Rate	[1]	0.97%		1.12%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Maturity 2020 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 1,500,000		$ 0
Derivative, Average Fixed Interest Rate	[1]	1.01%		0.00%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Maturity 2025 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 100,000		$ 100,000
Derivative, Average Fixed Interest Rate	[1]	2.32%		2.32%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Maturity 2026 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 50,000		$ 0
Derivative, Average Fixed Interest Rate		1.52%		0.00%
Interest Rate Cap [Member]
Derivative [Line Items]
Increase (Decrease) in Financial Instruments Used in Operating Activities				$ 2,900
Derivative, Notional Amount		$ 275,000
Swaption [Member]
Derivative [Line Items]
Increase (Decrease) in Financial Instruments Used in Operating Activities				$ 9,100
Derivative, Notional Amount		$ 250,000
Derivative, Type of Interest Rate Received on Swap		1-month LIBOR
Derivative, Swaption Interest Rate		3.30%
Junior Subordinated Debt [Member]
Derivative [Line Items]
Bonds and notes payable		$ 57,184		$ 57,184
Junior Subordinated Debt [Member] | Interest Rate Swap [Member] | unsecured debt hedges [Member] | Maturity 2036 [Member]
Derivative [Line Items]
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
Derivative, Fixed Interest Rate		7.66%		7.66%
Private Loan Warehouse Total [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Bonds and notes payable		$ 275,000
Interest Rate Cap 1 [Member] | Interest Rate Cap [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 2 [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 150,000
Derivative, Description of Terms		one-month LIBOR
Derivative, Cap Interest Rate		4.99%
Maturity 2016 [Member] | 1:3 basis swaps [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 1,000,000		$ 7,500,000
Maturity 2028 [Member] | 1:3 basis swaps [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 125,000		$ 0
[1]	For all interest rate derivatives, the Company receives discrete three-month LIBOR.
[2]	(a)For all interest rate derivatives, the Company receives discrete three-month LIBOR.

Derivative Financial Instrume42

Derivative Financial Instruments Cross-currency Interest Rate Swaps (Details) $ in Thousands, € in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016EUR (€)	Dec. 31, 2015USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Bonds and notes payable		$ 25,320,878		$ 25,320,878			$ 28,105,921
Change in fair value of cross currency interest rate swaps				(1,556)	$ (43,179)
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		(4,831)	$ (1,058)	(13,543)	32,480
Change in fair value of cross currency interest rate swaps		5,501	666	26,194	(35,207)
Total impact to statements of income - income (expense)	[1]	$ 670	$ (392)	$ 12,651	$ (2,727)
[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 Instrume43

Derivative Financial Instruments Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	$ 14,476					$ 28,690
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	65,053					74,881
1:3 basis swaps [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	637					724
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	0					410
notional amount of terminated derivatives		$ 300,000	$ 700,000	$ 2,800,000	$ 2,700,000
Proceeds to terminate and or amend derivative instruments		500	$ 3,700	$ 17,500	$ 34,400
Interest rate swaps - floor income hedges [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	11,149					21,408
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	11,148					1,175
notional amount of terminated derivatives	500,000	3,100,000
Proceeds to terminate and or amend derivative instruments	700	$ 3,000
Swaption [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	716					3,257
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	0					0
Interest rate swaps - hybrid debt hedges [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	0					0
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	11,646					7,646
Interest Rate Cap [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	287					1,570
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	0					0
Cross-currency interest rate swaps [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	0					0
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	39,456					65,650
Other Contract [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset	1,687					1,731
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	$ 2,803					$ 0

Derivative Financial Instrume44

Derivative Financial Instruments Gross/Net (Details) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		$ 14,476	$ 28,690
Fair value of derivative instruments, asset, net		2,332	29,471
Fair value of derivative instruments, liability, net		20,513	60,862
Derivative Financial Instruments, Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement		65,053	74,881
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset		13,944	851
Cash collateral pledged, net	[1]	30,596
Cash collateral received		(30,300)
Cash collateral pledged		60,900	13,168
Derivative Financial Instruments, Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset		13,944	851
Cash collateral pledged		$ 1,800	$ 1,632
[1]	(a) Cash collateral pledged (received), net as of September 30, 2016 includes $60.9 million of cash collateral paid to counterparties and $30.3 million in cash collateral received from counterparties.

Derivative Financial Instrume45

Derivative Financial Instruments Income Statement Effect of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015		Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	$ (6,261)	$ (5,878)	[1]	$ (18,292)	$ (16,535)	[1]
Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(6,261)	(5,878)		(18,292)	(16,535)
Change in fair value	47,093	(23,722)		(1,556)	(43,179)
Re-measurement of Euro Notes (foreign currency transaction adjustment) - income (expense)	(4,831)	(1,058)		(13,543)	32,480
Derivative market value and foreign currency adjustments and derivative settlements - income (expense)	36,001	(30,658)		(33,391)	(27,234)
1:3 basis swaps [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	523	179		938	568
Change in fair value	140	(1,886)		323	10,513
Interest rate swaps - floor income hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(5,157)	(5,456)		(15,241)	(15,490)
Change in fair value	42,073	(18,935)		(17,913)	(16,273)
Interest rate swap option - floor income hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(269)	(2,205)		(2,541)	(1,736)
Interest rate swaps - hybrid debt hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(233)	(255)		(696)	(760)
Change in fair value	13	(1,948)		(4,000)	(861)
Interest Rate Cap [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(68)	(939)		(1,283)	(1,140)
Cross-currency interest rate swaps [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(1,394)	(346)		(3,293)	(853)
Change in fair value	5,501	666		26,194	(35,207)
Other Contract [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	$ (297)	$ 1,525		$ (2,336)	$ 1,525
[1]	Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015.

Investments and Notes Receiva46

Investments and Notes Receivable Summary (Details) - USD ($) $ in Thousands		Sep. 30, 2016		Dec. 31, 2015
Investment Holdings [Line Items]
Investments and notes receivable		$ 257,528		$ 303,681
Investments [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		112,624		155,392
Investments [Member] | Available-for-sale investments [Member]
Investment Holdings [Line Items]
Amortized cost		113,044		140,816
Gross Unrealized Gain		3,939		5,088
Gross Unrealized Loss		4,612	[1]	1,462
Investments, Fair Value Disclosure		112,371		144,442
Investments [Member] | Available-for-sale investments [Member] | Student Loan Asset-Backed and Other Debt Securities [Member]
Investment Holdings [Line Items]
Amortized cost	[2]	112,324		139,970
Gross Unrealized Gain	[2]	2,128		3,402
Gross Unrealized Loss	[2]	4,547	[1]	1,362
Investments, Fair Value Disclosure	[2]	109,905		142,010
Investments [Member] | Available-for-sale investments [Member] | Equity securities [Member]
Investment Holdings [Line Items]
Amortized cost		720		846
Gross Unrealized Gain		1,811		1,686
Gross Unrealized Loss		65	[1]	100
Investments, Fair Value Disclosure		2,466		2,432
Investments [Member] | Trading investments [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		253		10,950
Investments [Member] | Trading investments [Member] | Student Loan Asset-Backed and Other Debt Securities [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		0		6,045
Investments [Member] | Trading investments [Member] | Equity securities [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		253		4,905
Other Investments and Notes Receivable (not measured at fair value) [Member] | Venture Capital and Funds [Member]
Investment Holdings [Line Items]
Other Investments		64,481		63,323
Other Investments and Notes Receivable (not measured at fair value) [Member] | Real Estate Investment [Member]
Investment Holdings [Line Items]
Other Investments		50,246		50,463
Other Investments and Notes Receivable (not measured at fair value) [Member] | Notes Receivable [Member]
Investment Holdings [Line Items]
Other Investments		17,031		18,473
Other Investments and Notes Receivable (not measured at fair value) [Member] | Tax liens and affordable housing investments [Member]
Investment Holdings [Line Items]
Other Investments		$ 13,146		$ 16,030
[1]	As of September 30, 2016, 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, 2016, 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.

Business Combinations Schedule

Business Combinations Schedule of Assets Acquired, Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 147,312	$ 146,000
Communications [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	334
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCashAndEquivalents	850
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables	1,935
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	32,479
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	371
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	11,410
Goodwill	21,112
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	(4,587)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities	(13,904)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	50,000
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	(3,750)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest	$ 46,250

Business Combinations Acquisiti

Business Combinations Acquisition Details (Details) - Communications [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 11,410
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years
Business Acquisition, Percentage of Voting Interests Acquired		92.50%
Business Combination, Consideration Transferred		$ 46,250
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		7.50%
Noncontrolling Interest, Minimum earn up percentage by noncontrolling owners		11.50%
Noncontrolling Interest, Maximum earn up percentage by noncontrolling owners		19.00%
Business Acquisition, Goodwill, Expected Tax Deductible Amount	$ 21,100
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesSaleOfInterestByParentPercentage	1.00%
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Sale of Interest by Parent	$ 500
Contingent Consideration Classified as Equity, Fair Value Disclosure		$ 1,000
Customer Relationships [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Finite-lived Intangible Assets Acquired	$ 6,300
Trade Names [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Finite-lived Intangible Assets Acquired	$ 5,100

Intangible Assets Intangible 49

Intangible Assets Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life (months)	143 months
Finite-Lived Intangible Assets, Net	$ 50,964	$ 51,062
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 7,261	4,028
Weighted average remaining useful life (months)	170 months
Finite-Lived Intangible Assets, Net	$ 29,623	27,576
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 8,236	4,397
Weighted average remaining useful life (months)	28 months
Finite-Lived Intangible Assets, Net	$ 10,712	11,601
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 1,439	795
Weighted average remaining useful life (months)	192 months
Finite-Lived Intangible Assets, Net	$ 10,133	10,687
Media Content [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 1,575	900
Weighted average remaining useful life (months)	3 months
Finite-Lived Intangible Assets, Net	$ 225	900
Covenants not to compete [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 83	56
Weighted average remaining useful life (months)	92 months
Finite-Lived Intangible Assets, Net	$ 271	$ 298

Intangible Assets Amortization

Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Amortization of Intangible Assets	$ 3,200	$ 2,400	$ 8,400	$ 7,200
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	3,151		3,151
Finite-Lived Intangible Assets, Amortization Expense, Year Two	9,386		9,386
Finite-Lived Intangible Assets, Amortization Expense, Year Three	8,605		8,605
Finite-Lived Intangible Assets, Amortization Expense, Year Four	5,147		5,147
Finite-Lived Intangible Assets, Amortization Expense, Year Five	4,231		4,231
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	20,444		20,444
Amortization of Intangible Assets	$ 50,964		$ 50,964		$ 51,062

Intangible Assets Goodwill (Det

Intangible Assets Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill [Line Items]
Goodwill	$ 146,000
Allo purchase price adjustment	1,312
Goodwill	147,312
Student Loan and Guaranty Servicing [Member]
Goodwill [Line Items]
Goodwill	8,596
Allo purchase price adjustment	0
Goodwill	8,596
Tuition Payment Processing and Campus Commerce [Member]
Goodwill [Line Items]
Goodwill	67,168
Allo purchase price adjustment	0
Goodwill	67,168
Communications [Member]
Goodwill [Line Items]
Goodwill	19,800
Allo purchase price adjustment	1,312
Goodwill	21,112
Asset Generation and Management [Member]
Goodwill [Line Items]
Goodwill	41,883
Allo purchase price adjustment	0
Goodwill	41,883
Corporate and Other Activities [Member]
Goodwill [Line Items]
Goodwill	8,553
Allo purchase price adjustment	0
Goodwill	$ 8,553

Property Plant and Equipment 52

Property Plant and Equipment Property Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation	$ 5,800	$ 4,600	$ 16,400	$ 11,900
Property and equipment, net	107,505		107,505		$ 80,482
non-communications [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	141,994		141,994		123,293
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	88,523		88,523		77,188
Property and equipment, net	53,471		53,471		46,105
non-communications [Member] | Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	96,871		$ 96,871		89,093
non-communications [Member] | Computer Equipment and Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			1 year
non-communications [Member] | Computer Equipment and Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			5 years
non-communications [Member] | Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	12,349		$ 12,349		12,638
non-communications [Member] | Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			3 years
non-communications [Member] | Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			7 years
non-communications [Member] | Building [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	13,515		$ 13,515		12,239
non-communications [Member] | Building [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			5 years
non-communications [Member] | Building [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			39 years
non-communications [Member] | Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	3,817		$ 3,817		3,868
non-communications [Member] | Transportation Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			4 years
non-communications [Member] | Transportation Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			10 years
non-communications [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	3,614		$ 3,614		3,545
non-communications [Member] | Leasehold Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			5 years
non-communications [Member] | Leasehold Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			20 years
non-communications [Member] | Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,704		$ 1,704		700
non-communications [Member] | Land [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			0 years
non-communications [Member] | Land [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			0 years
non-communications [Member] | Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	10,124		$ 10,124		1,210
non-communications [Member] | Construction in Progress [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			0 years
non-communications [Member] | Construction in Progress [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			0 years
Communications [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	57,126		$ 57,126		34,377
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	3,092		3,092		0
Property and equipment, net	54,034		54,034		34,377
Communications [Member] | Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,772		$ 1,772		74
Communications [Member] | Computer Equipment and Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			1 year
Communications [Member] | Computer Equipment and Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			5 years
Communications [Member] | Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,258		$ 2,258		470
Communications [Member] | Transportation Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			4 years
Communications [Member] | Transportation Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			10 years
Communications [Member] | Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	70		$ 70		0
Communications [Member] | Land [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			0 years
Communications [Member] | Land [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			0 years
Communications [Member] | Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	8,578		$ 8,578		0
Communications [Member] | Construction in Progress [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			0 years
Communications [Member] | Construction in Progress [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			0 years
Communications [Member] | network plant and fiber [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	33,053		$ 33,053		25,669
Communications [Member] | network plant and fiber [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			5 years
Communications [Member] | network plant and fiber [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			15 years
Communications [Member] | central office [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	5,806		$ 5,806		909
Communications [Member] | central office [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			5 years
Communications [Member] | central office [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			15 years
Communications [Member] | Equipment Leased to Other Party [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	4,723		$ 4,723		6,912
Communications [Member] | Equipment Leased to Other Party [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			5 years
Communications [Member] | Equipment Leased to Other Party [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			10 years
Communications [Member] | Other Capitalized Property Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 866		$ 866		$ 343
Communications [Member] | Other Capitalized Property Plant and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			1 year
Communications [Member] | Other Capitalized Property Plant and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life			20 years

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015		Sep. 30, 2016	Sep. 30, 2015
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.	$ 84,294	$ 48,955	[1]	$ 158,405	$ 184,629	[1]
Weighted average common shares outstanding - basic and diluted	42,642,213	45,047,777		42,788,133	45,763,443
Earnings per share - basic and diluted	$ 1.98	$ 1.09		$ 3.70	$ 4.03
Common shareholders [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 83,419	$ 48,436		$ 156,749	$ 182,664
Weighted average common shares outstanding - basic and diluted	42,199,580	44,570,519		42,340,867	45,276,376
Earnings per share - basic and diluted	$ 1.98	$ 1.09		$ 3.70	$ 4.03
Unvested restricted stock shareholders [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 875	$ 519		$ 1,656	$ 1,965
Weighted average common shares outstanding - basic and diluted	442,633	477,258		447,266	487,067
Earnings per share - basic and diluted	$ 1.98	$ 1.09		$ 3.70	$ 4.03
[1]	Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015.

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015		Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Total interest income	$ 196,181	$ 189,157	[1]	$ 574,449	$ 541,028	[1]
Interest expense	96,386	77,164	[1]	280,847	221,344	[1]
Net interest income	99,795	111,993	[1]	293,602	319,684	[1]
Less provision for loan losses	(6,000)	(3,000)	[1]	(10,500)	(7,150)	[1]
Net interest income (loss) after provision for loan losses	93,795	108,993	[1]	283,102	312,534	[1]
Other income:
Loan and guaranty servicing revenue	54,350	61,520	[1]	161,082	183,164	[1]
Intersegment servicing revenue	0	0	[1]	0	0	[1]
Tuition payment processing, school information, and campus commerce revenue	33,071	30,439	[1]	102,211	92,805	[1]
Communications revenue	4,343	0		13,167	0
Enrollment services revenue	0	13,741	[1]	4,326	39,794	[1]
Other income	15,150	12,282	[1]	38,711	35,675	[1]
Gain on sale of loans and debt repurchases, net	2,160	597	[1]	2,260	4,987	[1]
Derivative market value and foreign currency adjustments, net	42,262	(24,780)	[1]	(15,099)	(10,699)	[1]
Derivative settlements, net	(6,261)	(5,878)	[1]	(18,292)	(16,535)	[1]
Total other income	145,075	87,921	[1]	288,366	329,191	[1]
Operating expenses:
Salaries and benefits	63,743	63,215	[1]	187,907	183,052	[1]
Depreciation and amortization	8,994	6,977	[1]	24,817	19,140	[1]
Loan servicing fees	5,880	7,793	[1]	20,024	22,829	[1]
Cost to provide communications services	1,784	0		5,169	0
Cost to provide enrollment services		11,349	[1]	3,623	32,543	[1]
Other expenses	26,391	31,604	[1]	84,174	94,430	[1]
Intersegment expenses, net	0	0	[1]	0	0	[1]
Total operating expenses	106,792	120,938	[1]	325,714	351,994	[1]
Income (loss) before income taxes	132,078	75,976	[1]	245,754	289,731	[1]
Income tax (expense) benefit	(47,715)	(26,999)	[1]	(87,184)	(104,985)	[1]
Net income (loss)	84,363	48,977	[1]	158,570	184,746	[1]
Net income attributable to noncontrolling interests	69	22	[1]	165	117	[1]
Net income (loss) attributable to Nelnet, Inc.	84,294	48,955	[1]	158,405	184,629	[1]
Student Loan and Guaranty Servicing [Member]
Segment Reporting Information [Line Items]
Total interest income	37	14	[1]	80	34	[1]
Interest expense	0	0	[1]	0	0	[1]
Net interest income	37	14	[1]	80	34	[1]
Less provision for loan losses	0	0	[1]	0	0	[1]
Net interest income (loss) after provision for loan losses	37	14	[1]	80	34	[1]
Other income:
Loan and guaranty servicing revenue	54,350	61,900	[1]	161,082	183,544	[1]
Intersegment servicing revenue	11,021	12,027	[1]	34,436	37,121	[1]
Tuition payment processing, school information, and campus commerce revenue	0	0	[1]	0	0	[1]
Communications revenue	0			0
Enrollment services revenue		0	[1]	0	0	[1]
Other income	0	0	[1]	0	0	[1]
Gain on sale of loans and debt repurchases, net	0	0	[1]	0	0	[1]
Derivative market value and foreign currency adjustments, net	0	0	[1]	0	0	[1]
Derivative settlements, net	0	0	[1]	0	0	[1]
Total other income	65,371	73,927	[1]	195,518	220,665	[1]
Operating expenses:
Salaries and benefits	32,505	34,525	[1]	96,851	99,813	[1]
Depreciation and amortization	557	484	[1]	1,440	1,457	[1]
Loan servicing fees	0	0	[1]	0	0	[1]
Cost to provide communications services	0			0
Cost to provide enrollment services		0	[1]	0	0	[1]
Other expenses	8,784	14,602	[1]	31,635	44,578	[1]
Intersegment expenses, net	5,825	7,513	[1]	18,168	22,200	[1]
Total operating expenses	47,671	57,124	[1]	148,094	168,048	[1]
Income (loss) before income taxes	17,737	16,817	[1]	47,504	52,651	[1]
Income tax (expense) benefit	(6,740)	(6,390)	[1]	(18,052)	(20,007)	[1]
Net income (loss)	10,997	10,427	[1]	29,452	32,644	[1]
Net income attributable to noncontrolling interests	0	(5)	[1]	0	(5)	[1]
Net income (loss) attributable to Nelnet, Inc.	10,997	10,432	[1]	29,452	32,649	[1]
Tuition Payment Processing and Campus Commerce [Member]
Segment Reporting Information [Line Items]
Total interest income	2	0	[1]	7	3	[1]
Interest expense	0	0	[1]	0	0	[1]
Net interest income	2	0	[1]	7	3	[1]
Less provision for loan losses	0	0	[1]	0	0	[1]
Net interest income (loss) after provision for loan losses	2	0	[1]	7	3	[1]
Other income:
Loan and guaranty servicing revenue	0	0	[1]	0	0	[1]
Intersegment servicing revenue	0	0	[1]	0	0	[1]
Tuition payment processing, school information, and campus commerce revenue	33,071	30,439	[1]	102,211	92,805	[1]
Communications revenue	0			0
Enrollment services revenue		0	[1]	0	0	[1]
Other income	0	0	[1]	0	0	[1]
Gain on sale of loans and debt repurchases, net	0	0	[1]	0	0	[1]
Derivative market value and foreign currency adjustments, net	0	0	[1]	0	0	[1]
Derivative settlements, net	0	0	[1]	0	0	[1]
Total other income	33,071	30,439	[1]	102,211	92,805	[1]
Operating expenses:
Salaries and benefits	15,979	13,983	[1]	45,859	40,887	[1]
Depreciation and amortization	2,929	2,202	[1]	7,711	6,592	[1]
Loan servicing fees	0	0	[1]	0	0	[1]
Cost to provide communications services	0			0
Cost to provide enrollment services		0	[1]	0	0	[1]
Other expenses	4,149	3,579	[1]	13,122	11,493	[1]
Intersegment expenses, net	1,616	2,246	[1]	4,690	6,444	[1]
Total operating expenses	24,673	22,010	[1]	71,382	65,416	[1]
Income (loss) before income taxes	8,400	8,429	[1]	30,836	27,392	[1]
Income tax (expense) benefit	(3,192)	(3,204)	[1]	(11,718)	(10,410)	[1]
Net income (loss)	5,208	5,225	[1]	19,118	16,982	[1]
Net income attributable to noncontrolling interests	0	0	[1]	0	0	[1]
Net income (loss) attributable to Nelnet, Inc.	5,208	5,225	[1]	19,118	16,982	[1]
Communications [Member]
Segment Reporting Information [Line Items]
Total interest income	0			1
Interest expense	318			671
Net interest income	(318)			(670)
Less provision for loan losses	0			0
Net interest income (loss) after provision for loan losses	(318)			(670)
Other income:
Loan and guaranty servicing revenue	0			0
Intersegment servicing revenue	0			0
Tuition payment processing, school information, and campus commerce revenue	0			0
Communications revenue	4,343			13,167
Enrollment services revenue				0
Other income	0			0
Gain on sale of loans and debt repurchases, net	0			0
Derivative market value and foreign currency adjustments, net	0			0
Derivative settlements, net	0			0
Total other income	4,343			13,167
Operating expenses:
Salaries and benefits	2,325			4,792
Depreciation and amortization	1,630			4,137
Loan servicing fees	0			0
Cost to provide communications services	1,784			5,169
Cost to provide enrollment services				0
Other expenses	1,545			3,110
Intersegment expenses, net	279			610
Total operating expenses	7,563			17,818
Income (loss) before income taxes	(3,538)			(5,321)
Income tax (expense) benefit	1,344			2,022
Net income (loss)	(2,194)			(3,299)
Net income attributable to noncontrolling interests	0			0
Net income (loss) attributable to Nelnet, Inc.	(2,194)			(3,299)
Asset Generation and Management [Member]
Segment Reporting Information [Line Items]
Total interest income	194,701	188,197	[1]	570,390	536,899	[1]
Interest expense	95,383	76,040	[1]	278,029	218,021	[1]
Net interest income	99,318	112,157	[1]	292,361	318,878	[1]
Less provision for loan losses	(6,000)	(3,000)	[1]	(10,500)	(7,150)	[1]
Net interest income (loss) after provision for loan losses	93,318	109,157	[1]	281,861	311,728	[1]
Other income:
Loan and guaranty servicing revenue	0	0	[1]	0	0	[1]
Intersegment servicing revenue	0	0	[1]	0	0	[1]
Tuition payment processing, school information, and campus commerce revenue	0	0	[1]	0	0	[1]
Communications revenue	0			0
Enrollment services revenue		0	[1]	0	0	[1]
Other income	4,265	3,312	[1]	12,362	11,838	[1]
Gain on sale of loans and debt repurchases, net	2,160	608	[1]	2,260	2,000	[1]
Derivative market value and foreign currency adjustments, net	42,546	(24,357)	[1]	(8,763)	(11,363)	[1]
Derivative settlements, net	(6,028)	(5,623)	[1]	(17,596)	(15,775)	[1]
Total other income	42,943	(26,060)	[1]	(11,737)	(13,300)	[1]
Operating expenses:
Salaries and benefits	486	558	[1]	1,504	1,623	[1]
Depreciation and amortization	0	0	[1]	0	0	[1]
Loan servicing fees	5,880	7,793	[1]	20,024	22,829	[1]
Cost to provide communications services	0			0
Cost to provide enrollment services		0	[1]	0	0	[1]
Other expenses	1,769	1,421	[1]	4,766	3,828	[1]
Intersegment expenses, net	11,146	12,544	[1]	34,791	37,913	[1]
Total operating expenses	19,281	22,316	[1]	61,085	66,193	[1]
Income (loss) before income taxes	116,980	60,781	[1]	209,039	232,235	[1]
Income tax (expense) benefit	(44,571)	(23,096)	[1]	(79,434)	(88,248)	[1]
Net income (loss)	72,409	37,685	[1]	129,605	143,987	[1]
Net income attributable to noncontrolling interests	0	0	[1]	0	0	[1]
Net income (loss) attributable to Nelnet, Inc.	72,409	37,685	[1]	129,605	143,987	[1]
Corporate and Other Activities [Member]
Segment Reporting Information [Line Items]
Total interest income	2,370	1,385	[1]	6,527	5,352	[1]
Interest expense	1,615	1,563	[1]	4,702	4,583	[1]
Net interest income	755	(178)	[1]	1,825	769	[1]
Less provision for loan losses	0	0	[1]	0	0	[1]
Net interest income (loss) after provision for loan losses	755	(178)	[1]	1,825	769	[1]
Other income:
Loan and guaranty servicing revenue	0	0	[1]	0	0	[1]
Intersegment servicing revenue	0	0	[1]	0	0	[1]
Tuition payment processing, school information, and campus commerce revenue	0	0	[1]	0	0	[1]
Communications revenue	0			0
Enrollment services revenue		13,741	[1]	4,326	39,794	[1]
Other income	10,886	8,970	[1]	26,349	23,837	[1]
Gain on sale of loans and debt repurchases, net	0	(11)	[1]	0	2,987	[1]
Derivative market value and foreign currency adjustments, net	(284)	(423)	[1]	(6,336)	664	[1]
Derivative settlements, net	(233)	(255)	[1]	(696)	(760)	[1]
Total other income	10,369	22,022	[1]	23,643	66,522	[1]
Operating expenses:
Salaries and benefits	12,448	14,149	[1]	38,902	40,729	[1]
Depreciation and amortization	3,878	4,291	[1]	11,528	11,091	[1]
Loan servicing fees	0	0	[1]	0	0	[1]
Cost to provide communications services	0			0
Cost to provide enrollment services		11,349	[1]	3,623	32,543	[1]
Other expenses	10,143	12,002	[1]	31,540	34,531	[1]
Intersegment expenses, net	(7,845)	(9,895)	[1]	(23,823)	(29,056)	[1]
Total operating expenses	18,624	31,896	[1]	61,770	89,838	[1]
Income (loss) before income taxes	(7,500)	(10,052)	[1]	(36,302)	(22,547)	[1]
Income tax (expense) benefit	5,443	5,691	[1]	19,998	13,680	[1]
Net income (loss)	(2,057)	(4,361)	[1]	(16,304)	(8,867)	[1]
Net income attributable to noncontrolling interests	69	27	[1]	165	122	[1]
Net income (loss) attributable to Nelnet, Inc.	(2,126)	(4,388)	[1]	(16,469)	(8,989)	[1]
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total interest income	(930)	(439)	[1]	(2,556)	(1,260)	[1]
Interest expense	(930)	(439)	[1]	(2,556)	(1,260)	[1]
Net interest income	0	0	[1]	0	0	[1]
Less provision for loan losses	0	0	[1]	0	0	[1]
Net interest income (loss) after provision for loan losses	0	0	[1]	0	0	[1]
Other income:
Loan and guaranty servicing revenue	0	(380)	[1]	0	(380)	[1]
Intersegment servicing revenue	(11,021)	(12,027)	[1]	(34,436)	(37,121)	[1]
Tuition payment processing, school information, and campus commerce revenue	0	0	[1]	0	0	[1]
Communications revenue	0			0
Enrollment services revenue		0	[1]	0	0	[1]
Other income	0	0	[1]	0	0	[1]
Gain on sale of loans and debt repurchases, net	0	0	[1]	0	0	[1]
Derivative market value and foreign currency adjustments, net	0	0	[1]	0	0	[1]
Derivative settlements, net	0	0	[1]	0	0	[1]
Total other income	(11,021)	(12,407)	[1]	(34,436)	(37,501)	[1]
Operating expenses:
Salaries and benefits	0	0	[1]	0	0	[1]
Depreciation and amortization	0	0	[1]	0	0	[1]
Loan servicing fees	0	0	[1]	0	0	[1]
Cost to provide communications services	0			0
Cost to provide enrollment services		0	[1]	0	0	[1]
Other expenses	0	0	[1]	0	0	[1]
Intersegment expenses, net	(11,021)	(12,407)	[1]	(34,436)	(37,501)	[1]
Total operating expenses	(11,021)	(12,407)	[1]	(34,436)	(37,501)	[1]
Income (loss) before income taxes	0	0	[1]	0	0	[1]
Income tax (expense) benefit	0	0	[1]	0	0	[1]
Net income (loss)	0	0	[1]	0	0	[1]
Net income attributable to noncontrolling interests	0	0	[1]	0	0	[1]
Net income (loss) attributable to Nelnet, Inc.	$ 0	$ 0	[1]	$ 0	$ 0	[1]
[1]	Does not include the Communications segment, which was initiated as a result of the acquisition of Allo on December 31, 2015.

Major Customer (Details)

Major Customer (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
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	$ 40.2	$ 33.2	$ 112.5	$ 99.3
GreatNet [Member]
Concentration Risk [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%		50.00%

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, 2016	Dec. 31, 2015
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	$ 112,624	$ 155,392
Fair value of derivative instruments	14,476	28,690
Total assets	127,100	184,082
Liabilities, Fair Value Disclosure [Abstract]
Fair value of derivative instruments	65,053	74,881
Total liabilities	65,053	74,881
Student loan asset-backed securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	109,783	147,925
Equity securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	2,719	7,337
Debt securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	122	130
Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	2,841	7,467
Fair value of derivative instruments	0	0
Total assets	2,841	7,467
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	2,719	7,337
Level 1 [Member] | Debt securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	122	130
Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	109,783	147,925
Fair value of derivative instruments	14,476	28,690
Total assets	124,259	176,615
Liabilities, Fair Value Disclosure [Abstract]
Fair value of derivative instruments	65,053	74,881
Total liabilities	65,053	74,881
Level 2 [Member] | Student loan asset-backed securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	109,783	147,925
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, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	$ 25,615,434,000	$ 28,324,552,000
Cash and cash equivalents	67,154,000	63,529,000	$ 114,498,000	$ 130,481,000
Investments (available-for-sale and trading)	257,528,000	303,681,000
Restricted cash - due to customers	91,505,000	144,771,000
Accrued interest receivable	381,804,000	383,825,000
Derivative instruments	14,476,000	28,690,000
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	25,320,878,000	28,105,921,000
Accrued interest payable	42,840,000	31,507,000
Due to customers	91,505,000	144,771,000
Fair value of derivative instruments	65,053,000	74,881,000
Fair value [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	26,145,847,000	28,611,350,000
Cash and cash equivalents	67,154,000	63,529,000
Investments (available-for-sale and trading)	112,624,000	155,392,000
Notes Receivable	17,031,000	18,067,000
Restricted cash	866,582,000	823,450,000
Restricted cash - due to customers	91,505,000	144,771,000
Restricted investments	6,292,000	9,174,000
Accrued interest receivable	381,804,000	383,825,000
Derivative instruments	14,476,000	28,690,000
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	24,750,721,000	27,150,775,000
Accrued interest payable	42,840,000	31,507,000
Due to customers	91,505,000	144,771,000
Fair value of derivative instruments	65,053,000	74,881,000
Fair value [Member] | Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	0	0
Cash and cash equivalents	67,154,000	63,529,000
Investments (available-for-sale and trading)	2,841,000	7,467,000
Notes Receivable	0	0
Restricted cash	866,582,000	823,450,000
Restricted cash - due to customers	91,505,000	144,771,000
Restricted investments	6,292,000	9,174,000
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	91,505,000	144,771,000
Fair value of 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)	109,783,000	147,925,000
Notes Receivable	17,031,000	18,067,000
Restricted cash	0	0
Restricted cash - due to customers	0	0
Restricted investments	0	0
Accrued interest receivable	381,804,000	383,825,000
Derivative instruments	14,476,000	28,690,000
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	24,750,721,000	27,150,775,000
Accrued interest payable	42,840,000	31,507,000
Due to customers	0	0
Fair value of derivative instruments	65,053,000	74,881,000
Fair value [Member] | Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	26,145,847,000	28,611,350,000
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
Fair value of derivative instruments	0	0
Carrying value [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	25,615,434,000	28,324,552,000
Cash and cash equivalents	67,154,000	63,529,000
Investments (available-for-sale and trading)	112,624,000	155,392,000
Notes Receivable	17,031,000	18,473,000
Restricted cash	866,582,000	823,450,000
Restricted cash - due to customers	91,505,000	144,771,000
Restricted investments	6,292,000	9,174,000
Accrued interest receivable	381,804,000	383,825,000
Derivative instruments	14,476,000	28,690,000
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	25,320,878,000	28,105,921,000
Accrued interest payable	42,840,000	31,507,000
Due to customers	91,505,000	144,771,000
Fair value of derivative instruments	$ 65,053,000	$ 74,881,000