Nelnet (NNI) 10-Q 8 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	3 Months Ended
	Mar. 31, 2017	Apr. 30, 2017	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	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		30,738,324
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	Mar. 31, 2017	Dec. 31, 2016
Assets:
Student loans receivable (net of allowance for loan losses)	$ 24,003,386	$ 24,903,724
Cash and cash equivalents:
Cash and cash equivalents - not held at a related party	9,616	7,841
Cash and cash equivalents - held at a related party	98,544	61,813
Total cash and cash equivalents	108,160	69,654
Investments and notes receivable	273,818	254,144
Restricted cash	787,635	980,961
Restricted cash - due to customers	93,699	119,702
Accrued interest receivable	392,754	391,264
Accounts receivable (net of allowance for doubtful accounts)	45,944	43,972
Goodwill	147,312	147,312
Intangible assets, net	45,434	47,813
Property and equipment, net	143,062	123,786
Other assets	60,364	10,245
Fair value of derivative instruments	39,652	87,531
Total assets	26,141,220	27,180,108
Liabilities:
Bonds and notes payable	23,594,516	24,668,490
Accrued interest payable	46,427	45,677
Other liabilities	199,816	197,488
Due to customers	93,699	119,702
Fair value of derivative instruments	79,095	77,826
Total liabilities	24,013,553	25,109,183
Nelnet, Inc. shareholders' equity:
Preferred stock	0	0
Additional paid-in capital	2,236	420
Retained earnings	2,100,214	2,056,084
Accumulated other comprehensive earnings	5,315	4,730
Total Nelnet, Inc. shareholders' equity	2,108,187	2,061,655
Noncontrolling interests	19,480	9,270
Total equity	2,127,667	2,070,925
Total liabilities and equity	26,141,220	27,180,108
Common Class A [Member]
Nelnet, Inc. shareholders' equity:
Common stock	307	306
Total equity	307	306
Common Class B [Member]
Nelnet, Inc. shareholders' equity:
Common stock	115	115
Total equity	115	115
Supplemental information - assets and liabilities of concolidated education lending variable interest entities: [Member]
Assets:
Student loans receivable (net of allowance for loan losses)	24,186,008	25,090,530
Cash and cash equivalents:
Restricted cash	778,123	970,306
Other assets	391,555	390,504
Liabilities:
Bonds and notes payable	24,002,228	25,105,704
Other liabilities	298,104	290,996
Fair value of derivative instruments	66,670	66,453
Equity:
Net assets of consolidated education lending variable interest entities	$ 988,684	$ 988,187

Consolidated Balance Sheets (u3

Consolidated Balance Sheets (unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Allowance for loan losses	$ 50,526	$ 51,842
Allowance for doubtful accounts	$ 1,643	$ 1,549
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	30,740,185	30,628,112
Shares Outstanding	30,740,185	30,628,112
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
	Mar. 31, 2017	Mar. 31, 2016
Interest income:
Loan interest	$ 181,207	$ 189,988
Investment interest	2,617	2,029
Total interest income	183,824	192,017
Interest expense:
Interest on bonds and notes payable	106,899	90,408
Net interest income	76,925	101,609
Less provision for loan losses	1,000	2,500
Net interest income after provision for loan losses	75,925	99,109
Other income:
Loan systems and servicing revenue	54,229	52,330
Tuition payment processing, school information, and campus commerce revenue	43,620	38,657
Communications revenue	5,106	4,346
Enrollment services revenue	0	4,326
Other income	12,632	13,796
Gain from debt repurchases	4,980	101
Derivative market value and foreign currency transaction adjustments and derivative settlements, net	(4,830)	(28,691)
Total other income	115,737	84,865
Operating expenses:
Salaries and benefits	71,863	63,242
Depreciation and amortization	8,598	7,640
Loan servicing fees	6,025	6,928
Cost to provide communications services	1,954	1,703
Cost to provide enrollment services	0	3,623
Other expenses	26,547	28,376
Total operating expenses	114,987	111,512
Income before income taxes	76,675	72,462
Income tax expense	28,755	24,433
Net income	47,920	48,029
Net loss (income) attributable to noncontrolling interests	2,106	(68)
Net income attributable to Nelnet, Inc.	$ 50,026	$ 47,961
Earnings per common share:
Net income attributable to Nelnet, Inc. shareholders - basic and diluted	$ 1.18	$ 1.11
Weighted average common shares outstanding - basic and diluted	42,291,857	43,088,092

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income	$ 47,920	$ 48,029
Available-for-sale securities:
Unrealized holding gains (losses) arising during period, net	1,259	(1,510)
Reclassification adjustment for (gains) losses recognized in net income, net	(331)	132
Income tax effect	(343)	510
Total other comprehensive income (loss)	585	(868)
Comprehensive income	48,505	47,161
Comprehensive loss (income) attributable to noncontrolling interests	2,106	(68)
Comprehensive income attributable to Nelnet, Inc.	$ 50,611	$ 47,093

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 interests [Member]
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 interests	975							975
Net income	48,029					47,961
Net (loss) income attributable to noncontrolling interests	(68)							68
Other comprehensive (loss) income	(868)						(868)
Distribution to noncontrolling interests	(97)							(97)
Cash dividend on Class A and Class B common stock	(5,093)					(5,093)
Issuance of common stock, net of forfeitures (in Shares)			130,797	0
Issuance of common stock, net of forfeitures	2,708		$ 1	$ 0	2,707
Compensation expense for stock based awards	1,183				1,183
Repurchase of common stock (in Shares)			(1,599,099)	0
Repurchase of common stock	(52,069)		$ (16)	$ 0	(977)	(51,076)
Balance (in Shares) at Mar. 31, 2016		0	31,008,226	11,476,932
Balance at Mar. 31, 2016	1,886,926	$ 0	$ 310	$ 115	2,913	1,873,500	1,416	8,672
Balance (in Shares) at Dec. 31, 2016		0	30,628,112	11,476,932
Balance at Dec. 31, 2016	2,070,925	$ 0	$ 306	$ 115	420	2,056,084	4,730	9,270
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	12,626							12,626
Net income	47,920					50,026
Net (loss) income attributable to noncontrolling interests	2,106							(2,106)
Other comprehensive (loss) income	585						585
Distribution to noncontrolling interests	(310)							(310)
Cash dividend on Class A and Class B common stock	(5,896)					(5,896)
Issuance of common stock, net of forfeitures (in Shares)			143,789	0
Issuance of common stock, net of forfeitures	2,090		$ 1	$ 0	2,089
Compensation expense for stock based awards	1,096				1,096
Repurchase of common stock (in Shares)			(31,716)	0
Repurchase of common stock	(1,369)		$ 0	$ 0	(1,369)	0
Balance (in Shares) at Mar. 31, 2017		0	30,740,185	11,476,932
Balance at Mar. 31, 2017	$ 2,127,667	$ 0	$ 307	$ 115	$ 2,236	$ 2,100,214	$ 5,315	$ 19,480

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Common Class A [Member]
Dividends paid per common share	$ 0.14	$ 0.12
Common Class B [Member]
Dividends paid per common share	$ 0.14	$ 0.12

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income attributable to Nelnet, Inc.	$ 50,026	$ 47,961
Net (loss) income attributable to noncontrolling interests	2,106	(68)
Net income	47,920	48,029
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, including debt discounts and student loan premiums and deferred origination costs	34,310	31,078
Student loan discount accretion	(12,014)	(10,917)
Provision for loan losses	1,000	2,500
Derivative market value adjustment	(1,238)	3,674
Foreign currency transaction adjustment	4,690	18,480
Proceeds from termination of derivative instruments	913	3,522
Payments to enter into derivative instruments	929	0
Gain from debt repurchases	(4,980)	(101)
(Gain) loss from sales of available-for-sale securities, net	(331)	132
Proceeds (purchases) related to trading securities, net	7	(3,436)
Deferred income tax benefit	(1,753)	(4,260)
Non-cash compensation expense	1,121	1,242
Other	581	1,990
Increase in accrued interest receivable	(1,490)	(452)
(Increase) decrease in accounts receivable	(1,972)	5,961
Decrease (increase) in other assets	294	(2,922)
Increase in accrued interest payable	750	7,443
Increase in other liabilities	6,954	2,551
Net cash provided by operating activities	73,833	104,514
Cash flows from investing activities:
Purchases of student loans	(50,126)	(108,543)
Net proceeds from student loan repayments, claims, capitalized interest, and other	953,698	870,898
Proceeds from sale of student loans	0	44,738
Purchases of available-for-sale securities	(53,530)	(14,595)
Proceeds from sales of available-for-sale securities	37,809	44,675
Purchases of investments and issuance of notes receivable	(4,898)	(3,021)
Proceeds from investments and notes receivable	1,605	3,087
Purchases of property and equipment	(26,469)	(15,258)
Decrease (increase) in restricted cash, net	193,326	(92,301)
Net cash provided by investing activities	1,051,415	729,680
Cash flows from financing activities:
Payments on bonds and notes payable	(1,128,899)	(858,147)
Proceeds from issuance of bonds and notes payable	37,496	67,698
Payments of debt issuance costs	(364)	(164)
Dividends paid	(5,896)	(5,093)
Repurchases of common stock	(1,369)	(52,069)
Proceeds from issuance of common stock	0	228
Issuance of noncontrolling interests	12,600	955
Distribution to noncontrolling interests	(310)	(97)
Net cash used in financing activities	(1,086,742)	(846,689)
Net increase (decrease) in cash and cash equivalents	38,506	(12,495)
Cash and cash equivalents, beginning of period	69,654	63,529
Cash and cash equivalents, end of period	108,160	51,034
Cash disbursements made for:
Interest	88,066	66,091
Income taxes, net of refunds	1,180	1,323
Supplemental noncash operating activity:
Increase in other assets related to centrally cleared variation margin settlements on derivative instruments	$ 50,401	$ 0

Basis of Financial Reporting

Basis of Financial Reporting	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Reporting	Basis of Financial Reporting The accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the “Company”) as of March 31, 2017 and for the three months ended March 31, 2017 and 2016 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2016 and, in the opinion of the Company’s management, the unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of results of operations for the interim periods presented. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results for the year ending December 31, 2017 . 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, 2016 (the " 2016 Annual Report"). Noncontrolling Interest Nelnet Servicing, LLC ("Nelnet Servicing"), a subsidiary of the Company, and Great Lakes Educational Loan Services, Inc. ("Great Lakes") created a joint venture to respond to the U.S. Department of Education’s initiative to procure a contract for federal student loan servicing to acquire a single servicing platform to service all loans owned by the Department. The joint venture operates as a new legal entity called GreatNet Solutions, LLC (“GreatNet”). Nelnet Servicing and Great Lakes each own 50 percent of the ownership interests in GreatNet. See note 11 for additional information on the contract procurement process. During the three months ended March 31, 2017 , Nelnet Servicing contributed $12.6 million to GreatNet and GreatNet began to incur certain operating costs. For financial reporting purposes, the balance sheet and operating results of GreatNet are included in the Company’s consolidated financial statements and presented in the Company’s Loan Systems and Servicing operating segment. The proportionate share of membership interest (equity) and net loss of GreatNet that is attributable to Great Lakes is reflected as minority interest in the consolidated financial statements. For a description of other entities in which the Company reflects minority interest in its consolidated financial statements, see note 2 of the notes to consolidated financial statements included in the 2016 Annual Report.

Student Loans Receivable and Al

Student Loans Receivable and Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 December 31, 2016 Federally insured loans: Stafford and other $ 4,927,541 5,186,047 Consolidation 19,012,552 19,643,937 Total 23,940,093 24,829,984 Private education loans 256,816 273,659 24,196,909 25,103,643 Loan discount, net of unamortized loan premiums and deferred origination costs (a) (142,997 ) (148,077 ) Allowance for loan losses – federally insured loans (36,687 ) (37,268 ) Allowance for loan losses – private education loans (13,839 ) (14,574 ) $ 24,003,386 24,903,724 (a) As of March 31, 2017 and December 31, 2016 , "loan discount, net of unamortized loan premiums and deferred origination costs" included $16.6 million and $18.6 million , respectively, of non-accretable discount associated with purchased loans of $8.0 billion and $8.3 billion , respectively. 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 March 31, 2017 2016 Balance at beginning of period $ 51,842 50,498 Provision for loan losses: Federally insured loans 2,000 2,000 Private education loans (1,000 ) 500 Total provision for loan losses 1,000 2,500 Charge-offs: Federally insured loans (2,581 ) (3,049 ) Private education loans (82 ) (401 ) Total charge-offs (2,663 ) (3,450 ) Recoveries - private education loans 197 276 Purchase of private education loans — 160 Transfer from repurchase obligation related to private education loans repurchased 150 100 Balance at end of period $ 50,526 50,084 Allocation of the allowance for loan losses: Federally insured loans $ 36,687 34,441 Private education loans 13,839 15,643 Total allowance for loan losses $ 50,526 50,084 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 March 31, 2017 As of December 31, 2016 As of March 31, 2016 Federally insured loans: Loans in-school/grace/deferment $ 1,604,494 $ 1,606,468 $ 2,198,559 Loans in forbearance 2,125,344 2,295,367 2,736,472 Loans in repayment status: Loans current 17,690,083 87.5 % 18,125,768 86.6 % 19,375,813 86.0 % Loans delinquent 31-60 days 732,433 3.6 818,976 3.9 866,207 3.8 Loans delinquent 61-90 days 493,876 2.4 487,647 2.3 538,284 2.4 Loans delinquent 91-120 days 275,711 1.4 335,291 1.6 329,425 1.5 Loans delinquent 121-270 days 763,030 3.8 854,432 4.1 1,008,157 4.5 Loans delinquent 271 days or greater 255,122 1.3 306,035 1.5 396,280 1.8 Total loans in repayment 20,210,255 100.0 % 20,928,149 100.0 % 22,514,166 100.0 % Total federally insured loans $ 23,940,093 $ 24,829,984 $ 27,449,197 Private education loans: Loans in-school/grace/deferment $ 34,138 $ 35,146 $ 55,668 Loans in forbearance 3,811 3,448 722 Loans in repayment status: Loans current 213,081 97.4 % 228,612 97.2 % 231,556 97.2 % Loans delinquent 31-60 days 1,355 0.6 1,677 0.7 968 0.4 Loans delinquent 61-90 days 1,402 0.6 1,110 0.5 1,144 0.5 Loans delinquent 91 days or greater 3,029 1.4 3,666 1.6 4,563 1.9 Total loans in repayment 218,867 100.0 % 235,065 100.0 % 238,231 100.0 % Total private education loans $ 256,816 $ 273,659 $ 294,621

Bonds and Notes Payable

Bonds and Notes Payable	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in FFELP loan asset-backed securitizations: Bonds and notes based on indices $ 21,316,429 0.22% - 6.90% 6/25/21 - 9/25/65 Bonds and notes based on auction 800,065 1.69% - 2.32% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 22,116,494 FFELP warehouse facilities 1,608,569 0.83% - 1.17% 9/7/18 - 12/13/19 Variable-rate bonds and notes issued in private education loan asset-backed securitization 102,585 2.73% 12/26/40 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 105,264 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit 35,000 2.29% 12/12/21 Unsecured debt - Junior Subordinated Hybrid Securities 20,526 4.52% 9/15/61 Other borrowings 20,871 1.78% - 3.38% 4/27/17 - 12/15/45 24,009,309 Discount on bonds and notes payable and debt issuance costs (414,793 ) Total $ 23,594,516 As of December 31, 2016 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in FFELP loan asset-backed securitizations: Bonds and notes based on indices $ 22,130,063 0.24% - 6.90% 6/25/21 - 9/25/65 Bonds and notes based on auction 998,415 1.61% - 2.28% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 23,128,478 FFELP warehouse facilities 1,677,443 0.63% - 1.09% 9/7/18 - 12/13/19 Variable-rate bonds and notes issued in private education loan asset-backed securitization 112,582 2.60% 12/26/40 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 113,378 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit — — 12/12/21 Unsecured debt - Junior Subordinated Hybrid Securities 50,184 4.37% 9/15/61 Other borrowings 18,355 3.38% 3/31/23 / 12/15/45 25,100,420 Discount on bonds and notes payable and debt issuance costs (431,930 ) Total $ 24,668,490 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 March 31, 2017 , the Company had three FFELP warehouse facilities as summarized below. NFSLW-I NHELP-III (a) NHELP-II Total Maximum financing amount $ 875,000 750,000 500,000 2,125,000 Amount outstanding 619,249 587,741 401,579 1,608,569 Amount available $ 255,751 162,259 98,421 516,431 Expiration of liquidity provisions July 10, 2018 April 28, 2017 December 15, 2017 Final maturity date September 7, 2018 April 26, 2019 December 13, 2019 Maximum advance rates 92.0 - 98.0% 92.2 - 95.0% 85.0 - 95.0% Minimum advance rates 84.0 - 90.0% 92.2 - 95.0% 85.0 - 95.0% Advanced as equity support $ 18,177 30,052 29,689 77,918 (a) On April 3, 2017, the Company entered into a letter agreement for this warehouse facility to decrease the maximum financing amount to $600.0 million . On April 28, 2017, the Company amended the agreement for this warehouse facility which changed the expiration date for the liquidity provisions to April 27, 2018 and changed the final maturity date to April 27, 2020 . On May 5, 2017, the Company decreased the maximum financing amount on this warehouse facility to $400.0 million . Unsecured Line of Credit The Company has a $350.0 million unsecured line of credit that has a maturity date of December 12, 2021 . As of March 31, 2017 , the unsecured line of credit had an outstanding balance of $35.0 million and $315.0 million was available for future use. Debt Repurchases During the three months ended March 31, 2017, the Company initiated a cash tender offer to purchase any and all of its outstanding Hybrid Securities, including a related consent solicitation to effect certain amendments to the indenture governing the notes to eliminate a provision requiring a minimum principal amount of the notes to remain outstanding after a partial redemption. The aggregate principal amount of notes tendered to the Company was $29.7 million . The Company paid $25.3 million to redeem these notes and recognized a gain of $4.4 million . In addition, the amendments described above were made to the indenture. After the completion of this tender offer, the Company has $20.5 million of Hybrid Securities that remain outstanding. In addition, during the first quarter of 2017, the Company recognized a gain of $0.6 million on the repurchase of its own FFELP asset-backed securities.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2017
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 2016 Annual Report. A tabular presentation of such derivatives outstanding as of March 31, 2017 and December 31, 2016 is presented below. Basis Swaps The following table summarizes the Company’s basis swaps outstanding as of March 31, 2017 and December 31, 2016 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 March 31, As of December 31, 2017 2016 Maturity Notional amount Notional amount 2018 $ 4,000,000 — 2024 250,000 — 2026 1,150,000 1,150,000 2027 375,000 — 2028 325,000 325,000 2029 100,000 — 2031 300,000 300,000 $ 6,500,000 1,775,000 The weighted average rate paid by the Company on the 1:3 Basis Swaps as of March 31, 2017 and December 31, 2016 was one-month LIBOR plus 15.3 basis points and 10.1 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 March 31, 2017 and December 31, 2016 . Maturity Notional amount Weighted average fixed rate paid by the Company (a) 2017 $ 750,000 0.99 % 2018 1,350,000 1.07 2019 3,250,000 0.97 2020 1,500,000 1.01 2025 100,000 2.32 $ 6,950,000 1.02 % (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 As of March 31, 2017 and December 31, 2016 , the Company had $20.5 million and $50.2 million , respectively, of unsecured Hybrid Securities outstanding. The interest rate on the Hybrid Securities through September 29, 2036 is equal to three-month LIBOR plus 3.375% , payable quarterly. The Company had the following derivatives outstanding as of March 31, 2017 and December 31, 2016 that are used to effectively convert the variable interest rate on a designated notional amount with respect to the 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 a $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 had a notional amount of $125.0 million and a one-month LIBOR strike rate of 2.50% , and the second interest rate cap had 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 rose above the applicable strike rate, the Company would receive monthly payments related to the spread difference. Both interest rate cap contracts had a maturity date of July 15, 2020. The private education loan warehouse facility was terminated by the Company on December 21, 2016. During the first quarter of 2017, the Company received $913,000 to terminate the interest rate cap contracts that were held in the private education loan warehouse legal entity and paid $929,000 to enter into new interest rate cap contracts with identical terms at Nelnet, Inc. (the parent company). The Company currently intends to keep these derivatives outstanding to partially mitigate a rise in interest rates and its impact on earnings related to its student loan portfolio earning a fixed rate. 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. Changes in the principal and accrued interest amounts as a result of foreign currency exchange rate fluctuations are included in the Company’s consolidated statements of income. 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 March 31, 2017 2016 Re-measurement of Euro Notes $ (4,690 ) (18,480 ) Change in fair value of cross-currency interest rate swap 935 32,701 Total impact to consolidated statements of income - (expense) income (a) $ (3,755 ) 14,221 (a) The financial statement impact of the above items is included in "Derivative market value and foreign currency transaction 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 Effective June 10, 2013, all over-the-counter derivative contracts executed by the Company are cleared post-execution at the Chicago Mercantile Exchange (“CME”), a regulated clearinghouse. Clearing is a process by which a third-party, the clearinghouse, steps in between the original counterparties and guarantees the performance of both, by requiring that each post liquid collateral on an initial (initial margin) and mark-to-market (variation margin) basis to cover the clearinghouse’s potential future exposure in the event of default. Prior to January 3, 2017, the Company accounted for variation margin payments to the CME as collateral against its derivative position. As such, these payments were treated as a separate unit of account from the derivative instrument and reported as a liability for cash collateral received and an asset (restricted cash) for cash collateral paid. Effective January 3, 2017, the CME amended its rulebooks to legally characterize variation margin payments for over-the-counter derivatives they clear as settlements of the derivatives’ exposure rather than collateral against the exposure. Based on these rulebook changes, for accounting and presentation purposes, the Company considers variation margin and the corresponding derivative instrument a single unit of account. As such, effective January 3, 2017, the variation margin received or paid is no longer accounted for separately as a liability or asset. Instead, these payments are recognized as derivative settlements and considered in determining the fair value of the centrally cleared derivative portfolio. The new clearinghouse requirements did not alter or affect the accounting and presentation of the Company’s derivative instruments executed prior to June 10, 2013 and those derivatives that are not required to be cleared at a clearinghouse (non-centrally cleared derivatives). The Company records these derivative instruments in the consolidated balance sheets on a gross basis as either an asset or liability measured at its fair value. Certain non-centrally cleared derivatives are subject to right of offset provisions with counterparties. For these derivatives, the Company does not offset fair value amounts recognized for derivative instruments and fair value amounts recognized for the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable) arising from derivative instruments that are recognized at fair value and executed with the same counterparty under a master netting arrangement. 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 March 31, December 31, March 31, December 31, 1:3 basis swaps $ — — 5,198 2,624 Interest rate swaps - floor income hedges 85,533 81,159 304 256 Interest rate swap option - floor income hedge 2,092 2,977 — — Interest rate swaps - hybrid debt hedges — — 6,923 7,341 Interest rate caps 646 1,152 — — Cross-currency interest rate swap — — 66,670 67,605 Other 1,782 2,243 — — Centrally cleared variation margin (a) (50,401 ) — — — Total $ 39,652 87,531 79,095 77,826 (a) As of March 31, 2017 , the $50.4 million in variation margin due from the CME is included in "other assets" in the Company's consolidated balance sheet. Offsetting of Derivative Assets/Liabilities Gross amounts not offset in the consolidated balance sheets Gross amounts of recognized assets/liabilities presented in the consolidated balance sheets Derivatives subject to enforceable master netting arrangement Cash collateral pledged Net asset (liability) As of March 31, 2017 Derivative assets: Non-centrally cleared derivative assets $ 3,058 — — 3,058 Centrally cleared derivative assets 36,594 — — 36,594 $ 39,652 — — 39,652 Derivative liabilities: Non-centrally cleared derivative liabilities $ (73,593 ) — 7,892 (65,701 ) Centrally cleared derivative liabilities (5,502 ) — — (5,502 ) $ (79,095 ) — 7,892 (71,203 ) As of December 31, 2016 Derivative assets $ 87,531 (2,880 ) 475 85,126 Derivative liabilities $ (77,826 ) 2,880 7,292 (67,654 ) The following table summarizes the effect of derivative instruments in the consolidated statements of income. Three months ended March 31, 2017 2016 Settlements: 1:3 basis swaps $ 698 (329 ) Interest rate swaps - floor income hedges (120 ) (5,243 ) Interest rate swaps - hybrid debt hedges (205 ) (232 ) Cross-currency interest rate swap (1,751 ) (733 ) Centrally cleared variation margin settlements 50,401 — Total settlements - income (expense) 49,023 (6,537 ) Change in fair value: 1:3 basis swaps (2,574 ) 768 Interest rate swaps - floor income hedges 4,324 (32,709 ) Interest rate swap option - floor income hedge (884 ) (1,415 ) Interest rate swaps - hybrid debt hedges 419 (2,549 ) Interest rate caps (522 ) (763 ) Cross-currency interest rate swap 935 32,701 Centrally cleared variation margin (50,401 ) — Other (460 ) 293 Total change in fair value - income (expense) (49,163 ) (3,674 ) Re-measurement of Euro Notes (foreign currency transaction adjustment) - (expense) income (4,690 ) (18,480 ) Derivative market value and foreign currency transaction adjustments and derivative settlements, net - (expense) income $ (4,830 ) (28,691 )

Investments and Notes Receivabl

Investments and Notes Receivable	3 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Investments	Investments and Notes Receivable A summary of the Company's investments and notes receivable follows: As of March 31, 2017 As of December 31, 2016 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) $ 114,315 7,028 (622 ) 120,721 98,260 6,280 (641 ) 103,899 Equity securities 720 2,081 (54 ) 2,747 720 1,930 (61 ) 2,589 Total available-for-sale investments $ 115,035 9,109 (676 ) 123,468 98,980 8,210 (702 ) 106,488 Trading investments - equity securities 98 105 Total available-for-sale and trading investments 123,566 106,593 Other Investments and Notes Receivable (not measured at fair value): Venture capital and funds 73,800 69,789 Real estate 48,480 48,379 Notes receivable 16,563 17,031 Tax liens and affordable housing 11,409 12,352 Total investments and notes receivable $ 273,818 254,144 (a) As of March 31, 2017 , the aggregate fair value of available-for-sale investments with unrealized losses was $34.8 million , of which $11.0 million had been in a continuous unrealized loss position for greater than 12 months. Because the Company currently has the intent and ability to retain these investments for an anticipated recovery in fair value, as of March 31, 2017 , 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 March 31, 2017 , the stated maturities of substantially all of the Company's student loan asset-backed and other debt securities classified as available-for-sale were greater than 10 years.

Intangible Assets Intangible As

Intangible Assets Intangible Assets	3 Months Ended
	Mar. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets Disclosure [Text Block]	Intangible Assets Intangible assets consist of the following: Weighted average remaining useful life as of March 31, 2017 (months) As of March 31, 2017 As of December 31, 2016 Amortizable intangible assets: Customer relationships (net of accumulated amortization of $9,623 and $8,548, respectively) 166 $ 27,261 28,335 Trade names (net of accumulated amortization of $1,864 and $1,653, respectively) 186 9,708 9,919 Computer software (net of accumulated amortization of $6,760 and $5,675, respectively) 23 8,211 9,296 Covenants not to compete (net of accumulated amortization of $100 and $91, respectively) 86 254 263 Total - amortizable intangible assets 144 $ 45,434 47,813 The Company recorded amortization expense on its intangible assets of $2.4 million and $2.5 million during the three months ended March 31, 2017 and 2016 , respectively. The Company will continue to amortize intangible assets over their remaining useful lives. As of March 31, 2017 , the Company estimates it will record amortization expense as follows: 2017 (April 1 - December 31) $ 7,007 2018 8,605 2019 5,147 2020 4,231 2021 3,480 2022 and thereafter 16,964 $ 45,434

Goodwill Goodwill (Notes)

Goodwill Goodwill (Notes)	3 Months Ended
	Mar. 31, 2017
Goodwill [Abstract]
Goodwill Disclosure [Text Block]	Goodwill The carrying amount of goodwill as of December 31, 2016 and March 31, 2017 by reportable operating segment was as follows: Loan Systems and Servicing Tuition Payment Processing and Campus Commerce Communications Asset Generation and Management Corporate and Other Activities Total Goodwill balance $ 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)	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Property and Equipment Property and equipment consisted of the following: As of March 31, 2017 As of December 31, 2016 Useful life Non-communications: Computer equipment and software 1-5 years $ 103,109 97,317 Office furniture and equipment 3-7 years 12,376 12,344 Building and building improvements 5-39 years 13,383 13,363 Transportation equipment 4-10 years 3,813 3,809 Leasehold improvements 5-20 years 3,605 3,579 Land — 1,682 1,682 Construction in progress — 19,284 16,346 157,252 148,440 Accumulated depreciation - non-communications 95,575 91,285 Non-communications, net property and equipment 61,677 57,155 Communications: Network plant and fiber 5-15 years 51,868 40,844 Central office 5-15 years 7,388 6,448 Customer located property 5-10 years 7,385 5,138 Transportation equipment 4-10 years 3,805 2,966 Computer equipment and software 1-5 years 2,344 2,026 Other 1-39 years 1,411 1,268 Land — 70 70 Construction in progress — 13,695 12,537 87,966 71,297 Accumulated depreciation - communications 6,581 4,666 Communications, net property and equipment 81,385 66,631 Total property and equipment, net $ 143,062 123,786 Depreciation expense for the three months ended March 31, 2017 and 2016 related to property and equipment was $6.2 million and $5.1 million , respectively.

Earnings per Common Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 2016 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 49,505 521 50,026 47,452 509 47,961 Denominator: Weighted-average common shares outstanding - basic and diluted 41,851,064 440,793 42,291,857 42,630,806 457,286 43,088,092 Earnings per share - basic and diluted $ 1.18 1.18 1.18 1.11 1.11 1.11 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	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Reporting	See note 14 of the notes to consolidated financial statements included in the 2016 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. Three months ended March 31, 2017 Loan Systems and Servicing Tuition Payment Processing and Campus Commerce Communications Asset Corporate and Other Activities Eliminations Total Total interest income $ 94 2 1 182,326 2,761 (1,359 ) 183,824 Interest expense — — 712 106,751 795 (1,359 ) 106,899 Net interest income 94 2 (711 ) 75,575 1,966 — 76,925 Less provision for loan losses — — — 1,000 — — 1,000 Net interest income (loss) after provision for loan losses 94 2 (711 ) 74,575 1,966 — 75,925 Other income: Loan systems and servicing revenue 54,229 — — — — — 54,229 Intersegment servicing revenue 10,323 — — — — (10,323 ) — Tuition payment processing, school information, and campus commerce revenue — 43,620 — — — — 43,620 Communications revenue — — 5,106 — — — 5,106 Other income — — — 3,342 9,290 — 12,632 Gain from debt repurchases — — — 540 4,440 — 4,980 Derivative settlements, net — — — (1,173 ) (205 ) — (1,378 ) Derivative market value and foreign currency transaction adjustments, net — — — (53,811 ) (42 ) — (53,853 ) Centrally cleared variation margin settlements, net — — — 50,401 — — 50,401 Total other income 64,552 43,620 5,106 (701 ) 13,483 (10,323 ) 115,737 Operating expenses: Salaries and benefits 37,992 16,652 2,979 400 13,839 — 71,863 Depreciation and amortization 549 2,391 2,135 — 3,523 — 8,598 Loan servicing fees — — — 6,025 — — 6,025 Cost to provide communications services — — 1,954 — — — 1,954 Other expenses 9,136 4,995 1,372 991 10,054 — 26,547 Intersegment expenses, net 7,398 2,075 506 10,412 (10,068 ) (10,323 ) — Total operating expenses 55,075 26,113 8,946 17,828 17,348 (10,323 ) 114,987 Income (loss) before income taxes 9,571 17,509 (4,551 ) 56,046 (1,899 ) — 76,675 Income tax (expense) benefit (4,555 ) (6,653 ) 1,730 (21,297 ) 2,021 — (28,755 ) Net income (loss) 5,016 10,856 (2,821 ) 34,749 122 — 47,920 Net loss (income) attributable to noncontrolling interests 2,415 — — — (309 ) — 2,106 Net income (loss) attributable to Nelnet, Inc. $ 7,431 10,856 (2,821 ) 34,749 (187 ) — 50,026 Three months ended March 31, 2016 Loan Systems and Servicing Tuition Payment Processing and Campus Commerce Communications Asset Generation and Management Corporate and Other Eliminations Total Total interest income $ 21 3 — 190,723 2,093 (823 ) 192,017 Interest expense — — 147 89,877 1,206 (823 ) 90,408 Net interest income 21 3 (147 ) 100,846 887 — 101,609 Less provision for loan losses — — — 2,500 — — 2,500 Net interest income (loss) after provision for loan losses 21 3 (147 ) 98,346 887 — 99,109 Other income: Loan systems and servicing revenue 52,330 — — — — — 52,330 Intersegment servicing revenue 12,007 — — — — (12,007 ) — Tuition payment processing, school information, and campus commerce revenue — 38,657 — — — — 38,657 Communications revenue — — 4,346 — — — 4,346 Enrollment services revenue — — — — 4,326 — 4,326 Other income — — — 4,263 9,532 — 13,796 Gain from debt repurchases — — — 101 — — 101 Derivative settlements, net — — — (6,304 ) (232 ) — (6,537 ) Derivative market value and foreign currency transaction adjustments, net — — — (19,897 ) (2,256 ) — (22,154 ) Total other income 64,337 38,657 4,346 (21,837 ) 11,370 (12,007 ) 84,865 Operating expenses: . Salaries and benefits 32,967 14,435 1,089 519 14,231 — 63,242 Depreciation and amortization 438 2,271 1,129 — 3,802 — 7,640 Loan servicing fees — — — 6,928 — — 6,928 Cost to provide communications services — — 1,703 — — — 1,703 Cost to provide enrollment services — — — — 3,623 — 3,623 Other expenses 11,470 4,159 753 1,516 10,477 — 28,376 Intersegment expenses, net 6,241 1,512 144 12,107 (7,997 ) (12,007 ) — Total operating expenses 51,116 22,377 4,818 21,070 24,136 (12,007 ) 111,512 Income (loss) before income taxes 13,242 16,283 (619 ) 55,439 (11,879 ) — 72,462 Income tax (expense) benefit (5,032 ) (6,188 ) 235 (21,066 ) 7,617 — (24,433 ) Net income (loss) 8,210 10,095 (384 ) 34,373 (4,262 ) — 48,029 Net loss (income) attributable to noncontrolling interests — — — — (68 ) — (68 ) Net income (loss) attributable to Nelnet, Inc. $ 8,210 10,095 (384 ) 34,373 (4,330 ) — 47,961

Major Customer

Major Customer	3 Months Ended
	Mar. 31, 2017
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 is set to expire on June 16, 2019. Revenue earned by the Company's Loan Systems and Servicing operating segment related to this contract was $39.0 million and $35.2 million for the three months ended March 31, 2017 and 2016 , respectively. In April 2016, the Department's Office of Federal Student Aid ("FSA") released information regarding a new contract procurement process for the Department to acquire a single servicing platform with multiple customer service providers to manage all student loans owned by the Department. The contract solicitation process was divided into two phases. On May 6, 2016, Nelnet Servicing, a subsidiary of the Company, and 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 operates as a new legal entity called GreatNet. Nelnet Servicing and Great Lakes each own 50 percent of the ownership interests of GreatNet. In addition to Nelnet Servicing, Great Lakes is currently one of four private sector companies (referred to as Title IV Additional Servicers, or "TIVAS") that 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. Navient Corporation and FedLoan Servicing (Pennsylvania Higher Education Assistance Agency ("PHEAA")), the other two TIVAS, were also selected to respond to Phase II. On January 6, 2017, GreatNet submitted its Phase II response to the Department. On April 11, 2017, the Department announced that it was withdrawing certain policy memos to FSA from the prior administration regarding factors to be considered in the procurement process. GreatNet is currently awaiting announcement from the new administration on the next steps in the procurement process.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2017
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 three months ended March 31, 2017 . As of March 31, 2017 As of December 31, 2016 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Investments (available-for-sale and trading): Student loan asset-backed securities $ — 120,506 120,506 — 103,780 103,780 Equity securities 2,845 — 2,845 2,694 — 2,694 Debt securities 215 — 215 119 — 119 Total investments (available-for-sale and trading) 3,060 120,506 123,566 2,813 103,780 106,593 Derivative instruments — 39,652 39,652 — 87,531 87,531 Total assets $ 3,060 160,158 163,218 2,813 191,311 194,124 Liabilities: Derivative instruments $ — 79,095 79,095 — 77,826 77,826 Total liabilities $ — 79,095 79,095 — 77,826 77,826 The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets: As of March 31, 2017 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 25,036,613 24,003,386 — — 25,036,613 Cash and cash equivalents 108,160 108,160 108,160 — — Investments (available-for-sale and trading) 123,566 123,566 3,060 120,506 — Notes receivable 16,563 16,563 — 16,563 — Restricted cash 787,635 787,635 787,635 — — Restricted cash – due to customers 93,699 93,699 93,699 — — Accrued interest receivable 392,754 392,754 — 392,754 — Derivative instruments 39,652 39,652 — 39,652 — Financial liabilities: Bonds and notes payable 23,526,104 23,594,516 — 23,526,104 — Accrued interest payable 46,427 46,427 — 46,427 — Due to customers 93,699 93,699 93,699 — — Derivative instruments 79,095 79,095 — 79,095 — As of December 31, 2016 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 25,653,581 24,903,724 — — 25,653,581 Cash and cash equivalents 69,654 69,654 69,654 — — Investments (available-for-sale and trading) 106,593 106,593 2,813 103,780 — Notes receivable 17,031 17,031 — 17,031 — Restricted cash 980,961 980,961 980,961 — — Restricted cash – due to customers 119,702 119,702 119,702 — — Accrued interest receivable 391,264 391,264 — 391,264 — Derivative instruments 87,531 87,531 — 87,531 — Financial liabilities: Bonds and notes payable 24,220,996 24,668,490 — 24,220,996 — Accrued interest payable 45,677 45,677 — 45,677 — Due to customers 119,702 119,702 119,702 — — Derivative instruments 77,826 77,826 — 77,826 — 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 2016 Annual Report.

Basis of Financial Reporting Si

Basis of Financial Reporting Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Reporting	Basis of Financial Reporting The accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the “Company”) as of March 31, 2017 and for the three months ended March 31, 2017 and 2016 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2016 and, in the opinion of the Company’s management, the unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of results of operations for the interim periods presented. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results for the year ending December 31, 2017 . 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, 2016 (the " 2016 Annual Report").
Noncontrolling Interest Disclosure [Text Block]	Noncontrolling Interest Nelnet Servicing, LLC ("Nelnet Servicing"), a subsidiary of the Company, and Great Lakes Educational Loan Services, Inc. ("Great Lakes") created a joint venture to respond to the U.S. Department of Education’s initiative to procure a contract for federal student loan servicing to acquire a single servicing platform to service all loans owned by the Department. The joint venture operates as a new legal entity called GreatNet Solutions, LLC (“GreatNet”). Nelnet Servicing and Great Lakes each own 50 percent of the ownership interests in GreatNet. See note 11 for additional information on the contract procurement process. During the three months ended March 31, 2017 , Nelnet Servicing contributed $12.6 million to GreatNet and GreatNet began to incur certain operating costs. For financial reporting purposes, the balance sheet and operating results of GreatNet are included in the Company’s consolidated financial statements and presented in the Company’s Loan Systems and Servicing operating segment. The proportionate share of membership interest (equity) and net loss of GreatNet that is attributable to Great Lakes is reflected as minority interest in the consolidated financial statements. For a description of other entities in which the Company reflects minority interest in its consolidated financial statements, see note 2 of the notes to consolidated financial statements included in the 2016 Annual Report.

Student Loans Receivable and 22

Student Loans Receivable and Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Student loans receivable consisted of the following: As of As of March 31, 2017 December 31, 2016 Federally insured loans: Stafford and other $ 4,927,541 5,186,047 Consolidation 19,012,552 19,643,937 Total 23,940,093 24,829,984 Private education loans 256,816 273,659 24,196,909 25,103,643 Loan discount, net of unamortized loan premiums and deferred origination costs (a) (142,997 ) (148,077 ) Allowance for loan losses – federally insured loans (36,687 ) (37,268 ) Allowance for loan losses – private education loans (13,839 ) (14,574 ) $ 24,003,386 24,903,724 (a) As of March 31, 2017 and December 31, 2016 , "loan discount, net of unamortized loan premiums and deferred origination costs" included $16.6 million and $18.6 million , respectively, of non-accretable discount associated with purchased loans of $8.0 billion and $8.3 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 March 31, 2017 2016 Balance at beginning of period $ 51,842 50,498 Provision for loan losses: Federally insured loans 2,000 2,000 Private education loans (1,000 ) 500 Total provision for loan losses 1,000 2,500 Charge-offs: Federally insured loans (2,581 ) (3,049 ) Private education loans (82 ) (401 ) Total charge-offs (2,663 ) (3,450 ) Recoveries - private education loans 197 276 Purchase of private education loans — 160 Transfer from repurchase obligation related to private education loans repurchased 150 100 Balance at end of period $ 50,526 50,084 Allocation of the allowance for loan losses: Federally insured loans $ 36,687 34,441 Private education loans 13,839 15,643 Total allowance for loan losses $ 50,526 50,084
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 March 31, 2017 As of December 31, 2016 As of March 31, 2016 Federally insured loans: Loans in-school/grace/deferment $ 1,604,494 $ 1,606,468 $ 2,198,559 Loans in forbearance 2,125,344 2,295,367 2,736,472 Loans in repayment status: Loans current 17,690,083 87.5 % 18,125,768 86.6 % 19,375,813 86.0 % Loans delinquent 31-60 days 732,433 3.6 818,976 3.9 866,207 3.8 Loans delinquent 61-90 days 493,876 2.4 487,647 2.3 538,284 2.4 Loans delinquent 91-120 days 275,711 1.4 335,291 1.6 329,425 1.5 Loans delinquent 121-270 days 763,030 3.8 854,432 4.1 1,008,157 4.5 Loans delinquent 271 days or greater 255,122 1.3 306,035 1.5 396,280 1.8 Total loans in repayment 20,210,255 100.0 % 20,928,149 100.0 % 22,514,166 100.0 % Total federally insured loans $ 23,940,093 $ 24,829,984 $ 27,449,197 Private education loans: Loans in-school/grace/deferment $ 34,138 $ 35,146 $ 55,668 Loans in forbearance 3,811 3,448 722 Loans in repayment status: Loans current 213,081 97.4 % 228,612 97.2 % 231,556 97.2 % Loans delinquent 31-60 days 1,355 0.6 1,677 0.7 968 0.4 Loans delinquent 61-90 days 1,402 0.6 1,110 0.5 1,144 0.5 Loans delinquent 91 days or greater 3,029 1.4 3,666 1.6 4,563 1.9 Total loans in repayment 218,867 100.0 % 235,065 100.0 % 238,231 100.0 % Total private education loans $ 256,816 $ 273,659 $ 294,621

Bonds and Notes payable (Tables

Bonds and Notes payable (Tables)	3 Months Ended
	Mar. 31, 2017
Bonds and Notes Payable [Abstract]
Schedule of Debt	The following tables summarize the Company’s outstanding debt obligations by type of instrument: As of March 31, 2017 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in FFELP loan asset-backed securitizations: Bonds and notes based on indices $ 21,316,429 0.22% - 6.90% 6/25/21 - 9/25/65 Bonds and notes based on auction 800,065 1.69% - 2.32% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 22,116,494 FFELP warehouse facilities 1,608,569 0.83% - 1.17% 9/7/18 - 12/13/19 Variable-rate bonds and notes issued in private education loan asset-backed securitization 102,585 2.73% 12/26/40 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 105,264 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit 35,000 2.29% 12/12/21 Unsecured debt - Junior Subordinated Hybrid Securities 20,526 4.52% 9/15/61 Other borrowings 20,871 1.78% - 3.38% 4/27/17 - 12/15/45 24,009,309 Discount on bonds and notes payable and debt issuance costs (414,793 ) Total $ 23,594,516 As of December 31, 2016 Carrying amount Interest rate range Final maturity Variable-rate bonds and notes issued in FFELP loan asset-backed securitizations: Bonds and notes based on indices $ 22,130,063 0.24% - 6.90% 6/25/21 - 9/25/65 Bonds and notes based on auction 998,415 1.61% - 2.28% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 23,128,478 FFELP warehouse facilities 1,677,443 0.63% - 1.09% 9/7/18 - 12/13/19 Variable-rate bonds and notes issued in private education loan asset-backed securitization 112,582 2.60% 12/26/40 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 113,378 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit — — 12/12/21 Unsecured debt - Junior Subordinated Hybrid Securities 50,184 4.37% 9/15/61 Other borrowings 18,355 3.38% 3/31/23 / 12/15/45 25,100,420 Discount on bonds and notes payable and debt issuance costs (431,930 ) Total $ 24,668,490
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 March 31, 2017 , the Company had three FFELP warehouse facilities as summarized below. NFSLW-I NHELP-III (a) NHELP-II Total Maximum financing amount $ 875,000 750,000 500,000 2,125,000 Amount outstanding 619,249 587,741 401,579 1,608,569 Amount available $ 255,751 162,259 98,421 516,431 Expiration of liquidity provisions July 10, 2018 April 28, 2017 December 15, 2017 Final maturity date September 7, 2018 April 26, 2019 December 13, 2019 Maximum advance rates 92.0 - 98.0% 92.2 - 95.0% 85.0 - 95.0% Minimum advance rates 84.0 - 90.0% 92.2 - 95.0% 85.0 - 95.0% Advanced as equity support $ 18,177 30,052 29,689 77,918 (a) On April 3, 2017, the Company entered into a letter agreement for this warehouse facility to decrease the maximum financing amount to $600.0 million . On April 28, 2017, the Company amended the agreement for this warehouse facility which changed the expiration date for the liquidity provisions to April 27, 2018 and changed the final maturity date to April 27, 2020 . On May 5, 2017, the Company decreased the maximum financing amount on this warehouse facility to $400.0 million .

Derivative Financial Instrume24

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 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 March 31, As of December 31, 2017 2016 Maturity Notional amount Notional amount 2018 $ 4,000,000 — 2024 250,000 — 2026 1,150,000 1,150,000 2027 375,000 — 2028 325,000 325,000 2029 100,000 — 2031 300,000 300,000 $ 6,500,000 1,775,000 The weighted average rate paid by the Company on the 1:3 Basis Swaps as of March 31, 2017 and December 31, 2016 was one-month LIBOR plus 15.3 basis points and 10.1 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 March 31, 2017 and December 31, 2016 . Maturity Notional amount Weighted average fixed rate paid by the Company (a) 2017 $ 750,000 0.99 % 2018 1,350,000 1.07 2019 3,250,000 0.97 2020 1,500,000 1.01 2025 100,000 2.32 $ 6,950,000 1.02 % (a) For all interest rate derivatives, the Company receives discrete three-month LIBOR.
Interest Rate Swaps - Unsecured Debt Hedges	nterest Rate Swaps – Unsecured Debt Hedges As of March 31, 2017 and December 31, 2016 , the Company had $20.5 million and $50.2 million , respectively, of unsecured Hybrid Securities outstanding. The interest rate on the Hybrid Securities through September 29, 2036 is equal to three-month LIBOR plus 3.375% , payable quarterly. The Company had the following derivatives outstanding as of March 31, 2017 and December 31, 2016 that are used to effectively convert the variable interest rate on a designated notional amount with respect to the 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 Remeasurement of Euro Bonds and 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. Changes in the principal and accrued interest amounts as a result of foreign currency exchange rate fluctuations are included in the Company’s consolidated statements of income. 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 March 31, 2017 2016 Re-measurement of Euro Notes $ (4,690 ) (18,480 ) Change in fair value of cross-currency interest rate swap 935 32,701 Total impact to consolidated statements of income - (expense) income (a) $ (3,755 ) 14,221 (a) The financial statement impact of the above items is included in "Derivative market value and foreign currency transaction 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 Effective June 10, 2013, all over-the-counter derivative contracts executed by the Company are cleared post-execution at the Chicago Mercantile Exchange (“CME”), a regulated clearinghouse. Clearing is a process by which a third-party, the clearinghouse, steps in between the original counterparties and guarantees the performance of both, by requiring that each post liquid collateral on an initial (initial margin) and mark-to-market (variation margin) basis to cover the clearinghouse’s potential future exposure in the event of default. Prior to January 3, 2017, the Company accounted for variation margin payments to the CME as collateral against its derivative position. As such, these payments were treated as a separate unit of account from the derivative instrument and reported as a liability for cash collateral received and an asset (restricted cash) for cash collateral paid. Effective January 3, 2017, the CME amended its rulebooks to legally characterize variation margin payments for over-the-counter derivatives they clear as settlements of the derivatives’ exposure rather than collateral against the exposure. Based on these rulebook changes, for accounting and presentation purposes, the Company considers variation margin and the corresponding derivative instrument a single unit of account. As such, effective January 3, 2017, the variation margin received or paid is no longer accounted for separately as a liability or asset. Instead, these payments are recognized as derivative settlements and considered in determining the fair value of the centrally cleared derivative portfolio. The new clearinghouse requirements did not alter or affect the accounting and presentation of the Company’s derivative instruments executed prior to June 10, 2013 and those derivatives that are not required to be cleared at a clearinghouse (non-centrally cleared derivatives). The Company records these derivative instruments in the consolidated balance sheets on a gross basis as either an asset or liability measured at its fair value. Certain non-centrally cleared derivatives are subject to right of offset provisions with counterparties. For these derivatives, the Company does not offset fair value amounts recognized for derivative instruments and fair value amounts recognized for the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable) arising from derivative instruments that are recognized at fair value and executed with the same counterparty under a master netting arrangement. 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 March 31, December 31, March 31, December 31, 1:3 basis swaps $ — — 5,198 2,624 Interest rate swaps - floor income hedges 85,533 81,159 304 256 Interest rate swap option - floor income hedge 2,092 2,977 — — Interest rate swaps - hybrid debt hedges — — 6,923 7,341 Interest rate caps 646 1,152 — — Cross-currency interest rate swap — — 66,670 67,605 Other 1,782 2,243 — — Centrally cleared variation margin (a) (50,401 ) — — — Total $ 39,652 87,531 79,095 77,826 (a) As of March 31, 2017 , the $50.4 million in variation margin due from the CME is included in "other assets" in the Company's consolidated balance sheet.
Offsetting Assets and Liabilities [Table Text Block]	Offsetting of Derivative Assets/Liabilities Gross amounts not offset in the consolidated balance sheets Gross amounts of recognized assets/liabilities presented in the consolidated balance sheets Derivatives subject to enforceable master netting arrangement Cash collateral pledged Net asset (liability) As of March 31, 2017 Derivative assets: Non-centrally cleared derivative assets $ 3,058 — — 3,058 Centrally cleared derivative assets 36,594 — — 36,594 $ 39,652 — — 39,652 Derivative liabilities: Non-centrally cleared derivative liabilities $ (73,593 ) — 7,892 (65,701 ) Centrally cleared derivative liabilities (5,502 ) — — (5,502 ) $ (79,095 ) — 7,892 (71,203 ) As of December 31, 2016 Derivative assets $ 87,531 (2,880 ) 475 85,126 Derivative liabilities $ (77,826 ) 2,880 7,292 (67,654 )
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 March 31, 2017 2016 Settlements: 1:3 basis swaps $ 698 (329 ) Interest rate swaps - floor income hedges (120 ) (5,243 ) Interest rate swaps - hybrid debt hedges (205 ) (232 ) Cross-currency interest rate swap (1,751 ) (733 ) Centrally cleared variation margin settlements 50,401 — Total settlements - income (expense) 49,023 (6,537 ) Change in fair value: 1:3 basis swaps (2,574 ) 768 Interest rate swaps - floor income hedges 4,324 (32,709 ) Interest rate swap option - floor income hedge (884 ) (1,415 ) Interest rate swaps - hybrid debt hedges 419 (2,549 ) Interest rate caps (522 ) (763 ) Cross-currency interest rate swap 935 32,701 Centrally cleared variation margin (50,401 ) — Other (460 ) 293 Total change in fair value - income (expense) (49,163 ) (3,674 ) Re-measurement of Euro Notes (foreign currency transaction adjustment) - (expense) income (4,690 ) (18,480 ) Derivative market value and foreign currency transaction adjustments and derivative settlements, net - (expense) income $ (4,830 ) (28,691 )

Investments and Notes Receiva25

Investments and Notes Receivable (Tables)	3 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Summary Investment Holdings	A summary of the Company's investments and notes receivable follows: As of March 31, 2017 As of December 31, 2016 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) $ 114,315 7,028 (622 ) 120,721 98,260 6,280 (641 ) 103,899 Equity securities 720 2,081 (54 ) 2,747 720 1,930 (61 ) 2,589 Total available-for-sale investments $ 115,035 9,109 (676 ) 123,468 98,980 8,210 (702 ) 106,488 Trading investments - equity securities 98 105 Total available-for-sale and trading investments 123,566 106,593 Other Investments and Notes Receivable (not measured at fair value): Venture capital and funds 73,800 69,789 Real estate 48,480 48,379 Notes receivable 16,563 17,031 Tax liens and affordable housing 11,409 12,352 Total investments and notes receivable $ 273,818 254,144 (a) As of March 31, 2017 , the aggregate fair value of available-for-sale investments with unrealized losses was $34.8 million , of which $11.0 million had been in a continuous unrealized loss position for greater than 12 months. Because the Company currently has the intent and ability to retain these investments for an anticipated recovery in fair value, as of March 31, 2017 , 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 March 31, 2017 , the stated maturities of substantially all of the Company's student loan asset-backed and other debt securities classified as available-for-sale were greater than 10 years.

Intangible Assets Intangible 26

Intangible Assets Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Intangible assets consist of the following: Weighted average remaining useful life as of March 31, 2017 (months) As of March 31, 2017 As of December 31, 2016 Amortizable intangible assets: Customer relationships (net of accumulated amortization of $9,623 and $8,548, respectively) 166 $ 27,261 28,335 Trade names (net of accumulated amortization of $1,864 and $1,653, respectively) 186 9,708 9,919 Computer software (net of accumulated amortization of $6,760 and $5,675, respectively) 23 8,211 9,296 Covenants not to compete (net of accumulated amortization of $100 and $91, respectively) 86 254 263 Total - amortizable intangible assets 144 $ 45,434 47,813
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	The Company recorded amortization expense on its intangible assets of $2.4 million and $2.5 million during the three months ended March 31, 2017 and 2016 , respectively. The Company will continue to amortize intangible assets over their remaining useful lives. As of March 31, 2017 , the Company estimates it will record amortization expense as follows: 2017 (April 1 - December 31) $ 7,007 2018 8,605 2019 5,147 2020 4,231 2021 3,480 2022 and thereafter 16,964 $ 45,434

Goodwill Goodwil (Tables)

Goodwill Goodwil (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill [Abstract]
Schedule of Goodwill [Table Text Block]	The carrying amount of goodwill as of December 31, 2016 and March 31, 2017 by reportable operating segment was as follows: Loan Systems and Servicing Tuition Payment Processing and Campus Commerce Communications Asset Generation and Management Corporate and Other Activities Total Goodwill balance $ 8,596 67,168 21,112 41,883 8,553 147,312

Property Plant and Equipment 28

Property Plant and Equipment Property Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property and equipment consisted of the following: As of March 31, 2017 As of December 31, 2016 Useful life Non-communications: Computer equipment and software 1-5 years $ 103,109 97,317 Office furniture and equipment 3-7 years 12,376 12,344 Building and building improvements 5-39 years 13,383 13,363 Transportation equipment 4-10 years 3,813 3,809 Leasehold improvements 5-20 years 3,605 3,579 Land — 1,682 1,682 Construction in progress — 19,284 16,346 157,252 148,440 Accumulated depreciation - non-communications 95,575 91,285 Non-communications, net property and equipment 61,677 57,155 Communications: Network plant and fiber 5-15 years 51,868 40,844 Central office 5-15 years 7,388 6,448 Customer located property 5-10 years 7,385 5,138 Transportation equipment 4-10 years 3,805 2,966 Computer equipment and software 1-5 years 2,344 2,026 Other 1-39 years 1,411 1,268 Land — 70 70 Construction in progress — 13,695 12,537 87,966 71,297 Accumulated depreciation - communications 6,581 4,666 Communications, net property and equipment 81,385 66,631 Total property and equipment, net $ 143,062 123,786

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	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 March 31, 2017 2016 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 49,505 521 50,026 47,452 509 47,961 Denominator: Weighted-average common shares outstanding - basic and diluted 41,851,064 440,793 42,291,857 42,630,806 457,286 43,088,092 Earnings per share - basic and diluted $ 1.18 1.18 1.18 1.11 1.11 1.11

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	See note 14 of the notes to consolidated financial statements included in the 2016 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. Three months ended March 31, 2017 Loan Systems and Servicing Tuition Payment Processing and Campus Commerce Communications Asset Corporate and Other Activities Eliminations Total Total interest income $ 94 2 1 182,326 2,761 (1,359 ) 183,824 Interest expense — — 712 106,751 795 (1,359 ) 106,899 Net interest income 94 2 (711 ) 75,575 1,966 — 76,925 Less provision for loan losses — — — 1,000 — — 1,000 Net interest income (loss) after provision for loan losses 94 2 (711 ) 74,575 1,966 — 75,925 Other income: Loan systems and servicing revenue 54,229 — — — — — 54,229 Intersegment servicing revenue 10,323 — — — — (10,323 ) — Tuition payment processing, school information, and campus commerce revenue — 43,620 — — — — 43,620 Communications revenue — — 5,106 — — — 5,106 Other income — — — 3,342 9,290 — 12,632 Gain from debt repurchases — — — 540 4,440 — 4,980 Derivative settlements, net — — — (1,173 ) (205 ) — (1,378 ) Derivative market value and foreign currency transaction adjustments, net — — — (53,811 ) (42 ) — (53,853 ) Centrally cleared variation margin settlements, net — — — 50,401 — — 50,401 Total other income 64,552 43,620 5,106 (701 ) 13,483 (10,323 ) 115,737 Operating expenses: Salaries and benefits 37,992 16,652 2,979 400 13,839 — 71,863 Depreciation and amortization 549 2,391 2,135 — 3,523 — 8,598 Loan servicing fees — — — 6,025 — — 6,025 Cost to provide communications services — — 1,954 — — — 1,954 Other expenses 9,136 4,995 1,372 991 10,054 — 26,547 Intersegment expenses, net 7,398 2,075 506 10,412 (10,068 ) (10,323 ) — Total operating expenses 55,075 26,113 8,946 17,828 17,348 (10,323 ) 114,987 Income (loss) before income taxes 9,571 17,509 (4,551 ) 56,046 (1,899 ) — 76,675 Income tax (expense) benefit (4,555 ) (6,653 ) 1,730 (21,297 ) 2,021 — (28,755 ) Net income (loss) 5,016 10,856 (2,821 ) 34,749 122 — 47,920 Net loss (income) attributable to noncontrolling interests 2,415 — — — (309 ) — 2,106 Net income (loss) attributable to Nelnet, Inc. $ 7,431 10,856 (2,821 ) 34,749 (187 ) — 50,026 Three months ended March 31, 2016 Loan Systems and Servicing Tuition Payment Processing and Campus Commerce Communications Asset Generation and Management Corporate and Other Eliminations Total Total interest income $ 21 3 — 190,723 2,093 (823 ) 192,017 Interest expense — — 147 89,877 1,206 (823 ) 90,408 Net interest income 21 3 (147 ) 100,846 887 — 101,609 Less provision for loan losses — — — 2,500 — — 2,500 Net interest income (loss) after provision for loan losses 21 3 (147 ) 98,346 887 — 99,109 Other income: Loan systems and servicing revenue 52,330 — — — — — 52,330 Intersegment servicing revenue 12,007 — — — — (12,007 ) — Tuition payment processing, school information, and campus commerce revenue — 38,657 — — — — 38,657 Communications revenue — — 4,346 — — — 4,346 Enrollment services revenue — — — — 4,326 — 4,326 Other income — — — 4,263 9,532 — 13,796 Gain from debt repurchases — — — 101 — — 101 Derivative settlements, net — — — (6,304 ) (232 ) — (6,537 ) Derivative market value and foreign currency transaction adjustments, net — — — (19,897 ) (2,256 ) — (22,154 ) Total other income 64,337 38,657 4,346 (21,837 ) 11,370 (12,007 ) 84,865 Operating expenses: . Salaries and benefits 32,967 14,435 1,089 519 14,231 — 63,242 Depreciation and amortization 438 2,271 1,129 — 3,802 — 7,640 Loan servicing fees — — — 6,928 — — 6,928 Cost to provide communications services — — 1,703 — — — 1,703 Cost to provide enrollment services — — — — 3,623 — 3,623 Other expenses 11,470 4,159 753 1,516 10,477 — 28,376 Intersegment expenses, net 6,241 1,512 144 12,107 (7,997 ) (12,007 ) — Total operating expenses 51,116 22,377 4,818 21,070 24,136 (12,007 ) 111,512 Income (loss) before income taxes 13,242 16,283 (619 ) 55,439 (11,879 ) — 72,462 Income tax (expense) benefit (5,032 ) (6,188 ) 235 (21,066 ) 7,617 — (24,433 ) Net income (loss) 8,210 10,095 (384 ) 34,373 (4,262 ) — 48,029 Net loss (income) attributable to noncontrolling interests — — — — (68 ) — (68 ) Net income (loss) attributable to Nelnet, Inc. $ 8,210 10,095 (384 ) 34,373 (4,330 ) — 47,961

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
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 three months ended March 31, 2017 . As of March 31, 2017 As of December 31, 2016 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Investments (available-for-sale and trading): Student loan asset-backed securities $ — 120,506 120,506 — 103,780 103,780 Equity securities 2,845 — 2,845 2,694 — 2,694 Debt securities 215 — 215 119 — 119 Total investments (available-for-sale and trading) 3,060 120,506 123,566 2,813 103,780 106,593 Derivative instruments — 39,652 39,652 — 87,531 87,531 Total assets $ 3,060 160,158 163,218 2,813 191,311 194,124 Liabilities: Derivative instruments $ — 79,095 79,095 — 77,826 77,826 Total liabilities $ — 79,095 79,095 — 77,826 77,826
Fair Value, by Balance Sheet Grouping	The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets: As of March 31, 2017 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 25,036,613 24,003,386 — — 25,036,613 Cash and cash equivalents 108,160 108,160 108,160 — — Investments (available-for-sale and trading) 123,566 123,566 3,060 120,506 — Notes receivable 16,563 16,563 — 16,563 — Restricted cash 787,635 787,635 787,635 — — Restricted cash – due to customers 93,699 93,699 93,699 — — Accrued interest receivable 392,754 392,754 — 392,754 — Derivative instruments 39,652 39,652 — 39,652 — Financial liabilities: Bonds and notes payable 23,526,104 23,594,516 — 23,526,104 — Accrued interest payable 46,427 46,427 — 46,427 — Due to customers 93,699 93,699 93,699 — — Derivative instruments 79,095 79,095 — 79,095 — As of December 31, 2016 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Student loans receivable $ 25,653,581 24,903,724 — — 25,653,581 Cash and cash equivalents 69,654 69,654 69,654 — — Investments (available-for-sale and trading) 106,593 106,593 2,813 103,780 — Notes receivable 17,031 17,031 — 17,031 — Restricted cash 980,961 980,961 980,961 — — Restricted cash – due to customers 119,702 119,702 119,702 — — Accrued interest receivable 391,264 391,264 — 391,264 — Derivative instruments 87,531 87,531 — 87,531 — Financial liabilities: Bonds and notes payable 24,220,996 24,668,490 — 24,220,996 — Accrued interest payable 45,677 45,677 — 45,677 — Due to customers 119,702 119,702 119,702 — — Derivative instruments 77,826 77,826 — 77,826 —

Basis of Financial Reporting No

Basis of Financial Reporting Noncontrolling Interest (Details) - GreatNet, LLC [Member] $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%
Contribution to non-controlling interest	$ 12.6

Student Loans Receivable (Detai

Student Loans Receivable (Details) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		$ (50,526)	$ (51,842)	$ (50,084)	$ (50,498)
Student loans receivable		24,003,386	24,903,724
Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(36,687)		(34,441)
Private education loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(13,839)		$ (15,643)
held for investment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		24,196,909	25,103,643
Loan discount, net of unamortized loan premiums and deferred origination costs	[1]	(142,997)	(148,077)
Student loans receivable		24,003,386	24,903,724
held for investment [Member] | Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		23,940,093	24,829,984
Allowance for loan losses		(36,687)	(37,268)
held for investment [Member] | Private education loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		256,816	273,659
Allowance for loan losses		(13,839)	(14,574)
held for investment [Member] | Stafford and Other [Member] | Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		4,927,541	5,186,047
held for investment [Member] | Consolidation Loans [Member] | Federally insured loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		19,012,552	19,643,937
Non-accretable discount [Member] | held for investment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross		8,000,000	8,300,000
Loan discount, net of unamortized loan premiums and deferred origination costs		$ (16,600)	$ (18,600)
[1]	As of March 31, 2017 and December 31, 2016, "loan discount, net of unamortized loan premiums and deferred origination costs" included $16.6 million and $18.6 million, respectively, of non-accretable discount associated with purchased loans of $8.0 billion and $8.3 billion, respectively.

Student Loans Receivable and 34

Student Loans Receivable and Allowance for Loan Losses Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for loan losses - balance	$ 51,842	$ 50,498
Provision for loan losses	1,000	2,500
Charge-offs	(2,663)	(3,450)
Purchase of private education loans	0	160
Allowance for loan losses - balance	50,526	50,084
Federally insured loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for loan losses	2,000	2,000
Charge-offs	(2,581)	(3,049)
Allowance for loan losses - balance	36,687	34,441
Private education loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for loan losses	(1,000)	500
Charge-offs	(82)	(401)
Recoveries - private education loans	197	276
Transfer from repurchase obligation related to private education loans repurchased	150	100
Allowance for loan losses - balance	$ 13,839	$ 15,643

Student Loans Receivable and 35

Student Loans Receivable and Allowance for Loan Losses Student Loan Status and Delinquency (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Federally insured loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 1,604,494	$ 2,198,559	$ 1,606,468
Loans in forbearance	2,125,344	2,736,472	2,295,367
Student loans receivable, gross	23,940,093	27,449,197	24,829,984
Loans in repayment status:
Loans current	$ 17,690,083	$ 19,375,813	$ 18,125,768
Loans current, percentage	87.50%	86.00%	86.60%
Total loans in repayment	$ 20,210,255	$ 22,514,166	$ 20,928,149
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	$ 34,138	$ 55,668	$ 35,146
Loans in forbearance	3,811	722	3,448
Student loans receivable, gross	256,816	294,621	273,659
Loans in repayment status:
Loans current	$ 213,081	$ 231,556	$ 228,612
Loans current, percentage	97.40%	97.20%	97.20%
Total loans in repayment	$ 218,867	$ 238,231	$ 235,065
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	$ 732,433	$ 866,207	$ 818,976
Financing Receivable, Percent Past Due	3.60%	3.80%	3.90%
Financing Receivables, 31 to 60 Days Past Due [Member] [Member] | Private education loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 1,355	$ 968	$ 1,677
Financing Receivable, Percent Past Due	0.60%	0.40%	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	$ 493,876	$ 538,284	$ 487,647
Financing Receivable, Percent Past Due	2.40%	2.40%	2.30%
Financing Receivables, 61 to 90 Days Past Due [Member] | Private education loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 1,402	$ 1,144	$ 1,110
Financing Receivable, Percent Past Due	0.60%	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	$ 275,711	$ 329,425	$ 335,291
Financing Receivable, Percent Past Due	1.40%	1.50%	1.60%
Financing receivables, 121-270 days past due [Member] | Federally insured loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 763,030	$ 1,008,157	$ 854,432
Financing Receivable, Percent Past Due	3.80%	4.50%	4.10%
Financing receivables, 271 days or greater past due [Member] | Federally insured loans [Member]
Loans in repayment status:
Financing Receivable, Recorded Investment, Past Due	$ 255,122	$ 396,280	$ 306,035
Financing Receivable, Percent Past Due	1.30%	1.80%	1.50%
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	$ 3,029	$ 4,563	$ 3,666
Financing Receivable, Percent Past Due	1.40%	1.90%	1.60%

Outstanding Debt Obligations (D

Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Bonds and notes payable	$ 23,594,516	$ 24,668,490
Discount on bonds and notes payable and debt issuance costs	(414,793)	(431,930)
Variable-rate bonds and notes [Member] | Private education [Member]
Debt Instrument [Line Items]
Bonds and notes payable		112,582
Warehouse facilities [Member] | FFELP Warehouse Total [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 1,608,569	$ 1,677,443
Warehouse facilities [Member] | FFELP Warehouse Total [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.83%	0.63%
Debt Instrument, Maturity Date	Sep. 7, 2018	Sep. 7, 2018
Warehouse facilities [Member] | FFELP Warehouse Total [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.17%	1.09%
Debt Instrument, Maturity Date	Dec. 13, 2019	Dec. 13, 2019
Line of Credit [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 35,000	$ 0
Line of Credit [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.29%	0.00%
Debt Instrument, Maturity Date	Oct. 30, 2020	Dec. 12, 2021
Line of Credit [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.29%	0.00%
Debt Instrument, Maturity Date	Oct. 30, 2020	Dec. 12, 2021
Junior Subordinated Debt [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 20,526	$ 50,184
Junior Subordinated Debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.52%	4.37%
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	4.52%	4.37%
Debt Instrument, Maturity Date	Sep. 15, 2061	Sep. 15, 2061
Other borrowings [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 20,871	$ 18,355
Other borrowings [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.78%	3.38%
Debt Instrument, Maturity Date	Apr. 27, 2017	Mar. 31, 2023
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. 15, 2045
Bonds and notes payable, gross [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 24,009,309	$ 25,100,420
Federally insured [Member] | Variable-rate bonds and notes [Member]
Debt Instrument [Line Items]
Bonds and notes payable	22,116,494	23,128,478
Federally insured [Member] | Bonds and notes based on indices [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 21,316,429	$ 22,130,063
Federally insured [Member] | Bonds and notes based on indices [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.22%	0.24%
Debt Instrument, Maturity Date	Jun. 25, 2021	Jun. 25, 2021
Federally insured [Member] | 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, 2065	Sep. 25, 2065
Federally insured [Member] | Bonds and notes based on auction or remarketing [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 800,065	$ 998,415
Federally insured [Member] | Bonds and notes based on auction or remarketing [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.69%	1.61%
Debt Instrument, Maturity Date	Mar. 22, 2032	Mar. 22, 2032
Federally insured [Member] | Bonds and notes based on auction or remarketing [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.32%	2.28%
Debt Instrument, Maturity Date	Nov. 26, 2046	Nov. 26, 2046
Private education [Member] | Variable-rate bonds and notes [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 102,585
Private education [Member] | Variable-rate bonds and notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.73%	2.60%
Debt Instrument, Maturity Date	Dec. 26, 2040	Dec. 26, 2040
Private education [Member] | Variable-rate bonds and notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.73%	2.60%
Debt Instrument, Maturity Date	Dec. 26, 2040	Dec. 26, 2040
Private education [Member] | fixed rate bonds and notes [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 105,264	$ 113,378
Private education [Member] | fixed rate bonds and notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.60%	3.60%
Debt Instrument, Maturity Date	Dec. 26, 2040	Dec. 26, 2040
Private education [Member] | fixed rate bonds and notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.35%	5.35%
Debt Instrument, Maturity Date	Dec. 28, 2043	Dec. 28, 2043

Bonds and Notes Payable Outstan

Bonds and Notes Payable Outstanding Lines of Credit (Details) - USD ($) $ in Thousands		Apr. 28, 2017	Mar. 31, 2017	Dec. 31, 2016	May 05, 2017	Apr. 03, 2017
Unsecured Line of Credit [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			$ 350,000
Amount outstanding			35,000
Amount available			$ 315,000
Debt Instrument, Maturity Date			Dec. 12, 2021
FFELP Warehouse Total [Member] | Warehouse facilities [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			$ 2,125,000
Amount outstanding			1,608,569
Amount available			516,431
Advanced as equity support			77,918
FFELP Warehouse Total [Member] | Warehouse facilities [Member] | NHELP-III Warehouse [Member]
Line of Credit Facility [Line Items]
Maximum financing amount	[1]		750,000
Amount outstanding	[1]		587,741
Amount available	[1]		$ 162,259
Expiration of liquidity provisions	[1]		Apr. 28, 2017
Debt Instrument, Maturity Date	[1]		Apr. 26, 2019
Advanced as equity support	[1]		$ 30,052
FFELP Warehouse Total [Member] | Warehouse facilities [Member] | NHELP-III Warehouse [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Maximum financing amount	[1]				$ 400,000	$ 600,000
Expiration of liquidity provisions	[1]	Apr. 27, 2018
Debt Instrument, Maturity Date	[1]	Apr. 27, 2020
FFELP Warehouse Total [Member] | Warehouse facilities [Member] | NFSLW-I Warehouse [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			875,000
Amount outstanding			619,249
Amount available			$ 255,751
Expiration of liquidity provisions			Jul. 10, 2018
Debt Instrument, Maturity Date			Sep. 7, 2018
Advanced as equity support			$ 18,177
FFELP Warehouse Total [Member] | Warehouse facilities [Member] | NHELP-II Warehouse [Member]
Line of Credit Facility [Line Items]
Maximum financing amount			500,000
Amount outstanding			401,579
Amount available			$ 98,421
Expiration of liquidity provisions			Dec. 15, 2017
Debt Instrument, Maturity Date			Dec. 13, 2019
Advanced as equity support			$ 29,689
FFELP Warehouse Total [Member] | Minimum [Member] | Warehouse facilities [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Maturity Date			Sep. 7, 2018	Sep. 7, 2018
FFELP Warehouse Total [Member] | Minimum [Member] | Warehouse facilities [Member] | NHELP-III Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates	[1]		92.15%
Maximum advance rates	[1]		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%
Maximum advance rates			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%
Maximum advance rates			85.00%
FFELP Warehouse Total [Member] | Maximum [Member] | Warehouse facilities [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Maturity Date			Dec. 13, 2019	Dec. 13, 2019
FFELP Warehouse Total [Member] | Maximum [Member] | Warehouse facilities [Member] | NHELP-III Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates	[1]		95.00%
Maximum advance rates	[1]		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%
Maximum advance rates			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%
Maximum advance rates			95.00%
[1]	On April 3, 2017, the Company entered into a letter agreement for this warehouse facility to decrease the maximum financing amount to $600.0 million. On April 28, 2017, the Company amended the agreement for this warehouse facility which changed the expiration date for the liquidity provisions to April 27, 2018 and changed the final maturity date to April 27, 2020.

Bonds and Notes Payable Gain on

Bonds and Notes Payable Gain on debt repurchases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Extinguishment of Debt [Line Items]
Gain (Loss) on Repurchase of Debt Instrument	$ 4,980	$ 101
Debt outstanding after extinguishment	23,594,516		$ 24,668,490
Junior Subordinated Debt [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Amount	29,700
Debt Instrument, Repurchase price	25,300
Gain (Loss) on Repurchase of Debt Instrument	4,400
Debt outstanding after extinguishment	20,526		$ 50,184
Asset-backed Securities [Member]
Extinguishment of Debt [Line Items]
Gain (Loss) on Repurchase of Debt Instrument	$ 600

Derivative Financial Instrume39

Derivative Financial Instruments Outstanding (Details) - USD ($)		3 Months Ended		12 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Payments to enter into derivative instruments		$ 929,000	$ 0
Bonds and notes payable		$ 23,594,516,000		$ 24,668,490,000
1:3 basis swaps [Member]
Derivative [Line Items]
Derivative, Type of Interest Rate Paid on Swap		one-month LIBOR		one-month LIBOR
Derivative, Basis Spread on Variable Rate		0.153%		0.101%
Derivative, Notional Amount		$ 6,500,000,000		$ 1,775,000,000
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		$ 6,950,000,000		$ 6,950,000,000
Derivative, Average Fixed Interest Rate	[1]	1.02%		1.02%
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 2017 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 750,000,000		$ 750,000,000
Derivative, Average Fixed Interest Rate	[1]	0.99%		0.99%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Maturity 2018 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 1,350,000,000		$ 1,350,000,000
Derivative, Average Fixed Interest Rate	[1]	1.07%		1.07%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Maturity 2019 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 3,250,000,000		$ 3,250,000,000
Derivative, Average Fixed Interest Rate	[1]	0.97%		0.97%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Maturity 2020 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 1,500,000,000		$ 1,500,000,000
Derivative, Average Fixed Interest Rate	[1]	1.01%		1.01%
Interest Rate Swap [Member] | Interest rate swaps - floor income hedges [Member] | Maturity 2025 [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 100,000,000		$ 100,000,000
Derivative, Average Fixed Interest Rate	[1]	2.32%		2.32%
Interest Rate Cap [Member]
Derivative [Line Items]
Payments to enter into derivative instruments					$ 2,900,000
Derivative, Notional Amount		$ 275,000,000
Proceeds (payments) to terminate and or amend derivative instruments		913,000
Swaption [Member]
Derivative [Line Items]
Payments to enter into derivative instruments		9,100,000
Derivative, Notional Amount		$ 250,000,000
Derivative, Type of Interest Rate Received on Swap		1-month LIBOR		1-month LIBOR
Derivative, Swaption Interest Rate		3.30%
Junior Subordinated Debt [Member]
Derivative [Line Items]
Bonds and notes payable		$ 20,526,000		$ 50,184,000
Junior Subordinated Debt [Member] | Interest Rate Swap [Member] | unsecured debt hedges [Member] | Maturity 2036 [Member]
Derivative [Line Items]
Weighted average basis spread on variable rate paid on swap		3.375%
Derivative, Notional Amount		$ 25,000,000		$ 25,000,000
Derivative, Average Fixed Interest Rate	[2]	4.28%		4.28%
Bonds and notes payable		$ 20,500,000		$ 50,200,000
Derivative, Type of Interest Rate Received on Swap		3-month LIBOR		3-month LIBOR
Fixed interest rate on derivatives and debt, net		7.66%		7.66%
Unsecured Debt Scheduled Interest Rate Change Date		Sep. 29, 2036
Debt Instrument, Description of Variable Rate Basis		three-month LIBOR
Private Loan Warehouse Total [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Bonds and notes payable		$ 275,000,000
2015 Interest Rate Cap 1 [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 125,000,000
Derivative, Description of Terms		one-month LIBOR
Derivative, Cap Interest Rate		2.50%
2015 Interest Rate Cap 2 [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 150,000,000
Derivative, Description of Terms		one-month LIBOR
Derivative, Cap Interest Rate		4.99%
2017 Interest Rate Cap [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Payments to enter into derivative instruments		$ 929,000
Maturity 2018 | 1:3 basis swaps [Member]
Derivative [Line Items]
Derivative, Notional Amount		4,000,000,000
Maturity 2024 | 1:3 basis swaps [Member]
Derivative [Line Items]
Derivative, Notional Amount		250,000,000
Maturity 2026 | 1:3 basis swaps [Member]
Derivative [Line Items]
Derivative, Notional Amount		1,150,000,000		$ 1,150,000,000
Maturity 2027 | 1:3 basis swaps [Member]
Derivative [Line Items]
Derivative, Notional Amount		375,000,000
Maturity 2028 | 1:3 basis swaps [Member]
Derivative [Line Items]
Derivative, Notional Amount		325,000,000		325,000,000
Maturity 2029 | 1:3 basis swaps [Member]
Derivative [Line Items]
Derivative, Notional Amount		100,000,000
Maturity 2031 | 1:3 basis swaps [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 300,000,000		$ 300,000,000
[1]	For all interest rate derivatives, the Company receives discrete three-month LIBOR.
[2]	For all interest rate derivatives, the Company receives discrete three-month LIBOR.

Derivative Financial Instrume40

Derivative Financial Instruments Cross-currency Interest Rate Swaps (Details) $ in Thousands, € in Millions		3 Months Ended
		Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017EUR (€)	Dec. 31, 2016USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Bonds and notes payable		$ 23,594,516			$ 24,668,490
Change in fair value of cross currency interest rate swaps		1,238	$ (3,674)
Currency Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Bonds and notes payable | €				€ 352.7
Derivative, Notional Amount		450,000		€ 352.7
Re-measurement of Euro Notes		(4,690)	(18,480)
Change in fair value of cross currency interest rate swaps		935	32,701
Total impact to statements of income - income (expense)	[1]	$ (3,755)	$ 14,221
[1]	The financial statement impact of the above items is included in "Derivative market value and foreign currency transaction adjustments and derivative settlements, net" in the Company's consolidated statements of income.

Derivative Financial Instrume41

Derivative Financial Instruments Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative Instruments not Designated as Hedging instruments, Asset, at Fair Value	$ 39,652	$ 87,531
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	79,095	77,826
Centrally cleared variation margin	50,401
Derivative Financial Instruments, Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments not Designated as Hedging instruments, Asset, at Fair Value	39,652	87,531
Derivative Financial Instruments, Assets [Member] | 1:3 basis swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments not Designated as Hedging instruments, Asset, at Fair Value	0	0
Derivative Financial Instruments, Assets [Member] | Interest rate swaps - floor income hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments not Designated as Hedging instruments, Asset, at Fair Value	85,533	81,159
Derivative Financial Instruments, Assets [Member] | Swaption [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments not Designated as Hedging instruments, Asset, at Fair Value	2,092	2,977
Derivative Financial Instruments, Assets [Member] | Interest rate swaps - hybrid debt hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments not Designated as Hedging instruments, Asset, at Fair Value	0	0
Derivative Financial Instruments, Assets [Member] | Interest Rate Cap [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments not Designated as Hedging instruments, Asset, at Fair Value	646	1,152
Derivative Financial Instruments, Assets [Member] | Cross-currency interest rate swap [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments not Designated as Hedging instruments, Asset, at Fair Value	0	0
Derivative Financial Instruments, Assets [Member] | Other Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments not Designated as Hedging instruments, Asset, at Fair Value	1,782	2,243
Derivative Financial Instruments, Assets [Member] | Centrally cleared variation margin [Member]
Derivatives, Fair Value [Line Items]
Centrally cleared variation margin	(50,401)	0
Derivative Financial Instruments, Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	79,095	77,826
Derivative Financial Instruments, Liabilities [Member] | 1:3 basis swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	5,198	2,624
Derivative Financial Instruments, Liabilities [Member] | Interest rate swaps - floor income hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	304	256
Derivative Financial Instruments, Liabilities [Member] | Swaption [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	0	0
Derivative Financial Instruments, Liabilities [Member] | Interest rate swaps - hybrid debt hedges [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	6,923	7,341
Derivative Financial Instruments, Liabilities [Member] | Interest Rate Cap [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	0	0
Derivative Financial Instruments, Liabilities [Member] | Cross-currency interest rate swap [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	66,670	67,605
Derivative Financial Instruments, Liabilities [Member] | Other Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	0	0
Derivative Financial Instruments, Liabilities [Member] | Centrally cleared variation margin [Member]
Derivatives, Fair Value [Line Items]
Centrally cleared variation margin	0	$ 0
Other Assets [Member] | Centrally cleared variation margin [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments not Designated as Hedging instruments, Asset, at Fair Value	$ 50,400

Derivative Financial Instrume42

Derivative Financial Instruments Gross/Net (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, asset, net	$ 39,652	$ 85,126
Fair value of derivative instruments, liability, net	(71,203)	(67,654)
Derivative Financial Instruments, Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(79,095)	(77,826)
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	0	2,880
Cash collateral pledged	7,892	7,292
Derivative Financial Instruments, Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	39,652	87,531
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	0	(2,880)
Cash collateral received	0	$ (475)
Non-centrally cleared [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	3,058
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	0
Cash collateral received	0
Fair value of derivative instruments, asset, net	3,058
Fair value of derivative instruments, liability, net	(65,701)
Non-centrally cleared [Member] | Derivative Financial Instruments, Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(73,593)
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	0
Cash collateral pledged	7,892
Centrally cleared [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	36,594
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	0
Cash collateral received	0
Fair value of derivative instruments, asset, net	36,594
Fair value of derivative instruments, liability, net	(5,502)
Centrally cleared [Member] | Derivative Financial Instruments, Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(5,502)
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	0
Cash collateral pledged	$ 0

Derivative Financial Instrume43

Derivative Financial Instruments Income Statement Effect of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	$ (1,378)	$ (6,537)
Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	49,023	(6,537)
Change in fair value	(49,163)	(3,674)
Re-measurement of Euro Notes (foreign currency transaction adjustment) - income (expense)	(4,690)	(18,480)
Derivative market value and foreign currency adjustments and derivative settlements - income (expense)	(4,830)	(28,691)
1:3 basis swaps [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	698	(329)
Change in fair value	(2,574)	768
Interest rate swaps - floor income hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(120)	(5,243)
Change in fair value	4,324	(32,709)
Interest rate swap option - floor income hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(884)	(1,415)
Interest rate swaps - hybrid debt hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(205)	(232)
Change in fair value	419	(2,549)
Interest Rate Cap [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(522)	(763)
Cross-currency interest rate swap [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(1,751)	(733)
Change in fair value	935	32,701
Centrally cleared variation margin [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	50,401	0
Change in fair value	(50,401)	0
Other Contract [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	$ (460)	$ 293

Investments and Notes Receiva44

Investments and Notes Receivable Summary (Details) - USD ($) $ in Thousands		Mar. 31, 2017		Dec. 31, 2016
Investment Holdings [Line Items]
Investments and notes receivable		$ 273,818		$ 254,144
Investments [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		123,566		106,593
Investments [Member] | Available-for-sale investments [Member]
Investment Holdings [Line Items]
Amortized cost		115,035		98,980
Gross Unrealized Gain		9,109		8,210
Gross Unrealized Loss		(676)	[1]	(702)
Investments, Fair Value Disclosure		123,468		106,488
Investments [Member] | Available-for-sale investments [Member] | aggregate fair value of available-for-sale investments with unrealized losses [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		34,800
Investments [Member] | Available-for-sale investments [Member] | aggregate fair value of available-for-sale investments with unrealized losses in a continuous unrealized loss position for greater than 12 months [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		11,000
Investments [Member] | Available-for-sale investments [Member] | Student Loan Asset-Backed and Other Debt Securities [Member]
Investment Holdings [Line Items]
Amortized cost	[2]	114,315		98,260
Gross Unrealized Gain	[2]	7,028		6,280
Gross Unrealized Loss	[2]	(622)	[1]	(641)
Investments, Fair Value Disclosure	[2]	120,721		103,899
Investments [Member] | Available-for-sale investments [Member] | Equity securities [Member]
Investment Holdings [Line Items]
Amortized cost		720		720
Gross Unrealized Gain		2,081		1,930
Gross Unrealized Loss		(54)	[1]	(61)
Investments, Fair Value Disclosure		2,747		2,589
Investments [Member] | Trading investments [Member] | Equity securities [Member]
Investment Holdings [Line Items]
Investments, Fair Value Disclosure		98		105
Other Investments and Notes Receivable (not measured at fair value) [Member] | Venture Capital and Funds [Member]
Investment Holdings [Line Items]
Other Investments		73,800		69,789
Other Investments and Notes Receivable (not measured at fair value) [Member] | Real Estate Investment [Member]
Investment Holdings [Line Items]
Other Investments		48,480		48,379
Other Investments and Notes Receivable (not measured at fair value) [Member] | Notes Receivable [Member]
Investment Holdings [Line Items]
Other Investments		16,563		17,031
Other Investments and Notes Receivable (not measured at fair value) [Member] | Tax liens and affordable housing investments [Member]
Investment Holdings [Line Items]
Other Investments		$ 11,409		$ 12,352
[1]	As of March 31, 2017, the aggregate fair value of available-for-sale investments with unrealized losses was $34.8 million, of which $11.0 million had been in a continuous unrealized loss position for greater than 12 months. Because the Company currently has the intent and ability to retain these investments for an anticipated recovery in fair value, as of March 31, 2017, 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 March 31, 2017, the stated maturities of substantially all of the Company's student loan asset-backed and other debt securities classified as available-for-sale were greater than 10 years.

Intangible Assets Intangible 45

Intangible Assets Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life (months)	144 months
Finite-Lived Intangible Assets, Net	$ 45,434	$ 47,813
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 9,623	8,548
Weighted average remaining useful life (months)	166 months
Finite-Lived Intangible Assets, Net	$ 27,261	28,335
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 1,864	1,653
Weighted average remaining useful life (months)	186 months
Finite-Lived Intangible Assets, Net	$ 9,708	9,919
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 6,760	5,675
Weighted average remaining useful life (months)	23 months
Finite-Lived Intangible Assets, Net	$ 8,211	9,296
Covenants not to compete [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 100	91
Weighted average remaining useful life (months)	86 months
Finite-Lived Intangible Assets, Net	$ 254	$ 263

Intangible Assets Amortization

Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Amortization of Intangible Assets	$ 2,400	$ 2,500
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	7,007
Finite-Lived Intangible Assets, Amortization Expense, Year Two	8,605
Finite-Lived Intangible Assets, Amortization Expense, Year Three	5,147
Finite-Lived Intangible Assets, Amortization Expense, Year Four	4,231
Finite-Lived Intangible Assets, Amortization Expense, Year Five	3,480
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	16,964
Finite-Lived Intangible Assets, Net	$ 45,434		$ 47,813

Goodwill Goodwill (Details)

Goodwill Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Goodwill [Line Items]
Goodwill	$ 147,312	$ 147,312
Loan Systems and Servicing [Member]
Goodwill [Line Items]
Goodwill	8,596	8,596
Tuition Payment Processing and Campus Commerce [Member]
Goodwill [Line Items]
Goodwill	67,168	67,168
Communications [Member]
Goodwill [Line Items]
Goodwill	21,112	21,112
Asset Generation and Management [Member]
Goodwill [Line Items]
Goodwill	41,883	41,883
Corporate and Other Activities [Member]
Goodwill [Line Items]
Goodwill	$ 8,553	$ 8,553

Property Plant and Equipment 48

Property Plant and Equipment Property Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation	$ 6,200	$ 5,100
Property and equipment, net	143,062		$ 123,786
non-communications [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	157,252		148,440
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	95,575		91,285
Property and equipment, net	61,677		57,155
non-communications [Member] | Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 103,109		97,317
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	$ 12,376		12,344
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	$ 13,383		13,363
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	$ 3,813		3,809
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	$ 3,605		3,579
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	$ 1,682		1,682
non-communications [Member] | Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	19,284		16,346
Communications [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	87,966		71,297
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	6,581		4,666
Property and equipment, net	81,385		66,631
Communications [Member] | Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,344		2,026
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	$ 3,805		2,966
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
Communications [Member] | Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	13,695		12,537
Communications [Member] | network plant and fiber [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 51,868		40,844
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	$ 7,388		6,448
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] | Customer located property [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 7,385		5,138
Communications [Member] | Customer located property [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Communications [Member] | Customer located property [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	$ 1,411		$ 1,268
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	39 years

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
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
Net income attributable to Nelnet, Inc.	$ 50,026	$ 47,961
Weighted average common shares outstanding - basic and diluted	42,291,857	43,088,092
Earnings per share - basic and diluted	$ 1.18	$ 1.11
Common shareholders [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 49,505	$ 47,452
Weighted average common shares outstanding - basic and diluted	41,851,064	42,630,806
Earnings per share - basic and diluted	$ 1.18	$ 1.11
Unvested restricted stock shareholders [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 521	$ 509
Weighted average common shares outstanding - basic and diluted	440,793	457,286
Earnings per share - basic and diluted	$ 1.18	$ 1.11

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Total interest income	$ 183,824	$ 192,017
Interest expense	106,899	90,408
Net interest income	76,925	101,609
Less provision for loan losses	1,000	2,500
Net interest income (loss) after provision for loan losses	75,925	99,109
Other income:
Loan systems and servicing revenue	54,229	52,330
Intersegment servicing revenue	0	0
Tuition payment processing, school information, and campus commerce revenue	43,620	38,657
Communications revenue	5,106	4,346
Enrollment services revenue	0	4,326
Other income	12,632	13,796
Gain from debt repurchases	4,980	101
Derivative market value and foreign currency transaction adjustments, net	(53,853)	(22,154)
Derivative settlements, net	(1,378)	(6,537)
Centrally cleared variation margin settlements, net	50,401
Total other income	115,737	84,865
Operating expenses:
Salaries and benefits	71,863	63,242
Depreciation and amortization	8,598	7,640
Loan servicing fees	6,025	6,928
Cost to provide communications services	1,954	1,703
Cost to provide enrollment services		3,623
Other expenses	26,547	28,376
Intersegment expenses, net	0	0
Total operating expenses	114,987	111,512
Income (loss) before income taxes	76,675	72,462
Income tax (expense) benefit	(28,755)	(24,433)
Net income (loss)	47,920	48,029
Net Income (Loss) Attributable to noncontrolling interests	2,106	(68)
Net income (loss) attributable to Nelnet, Inc.	50,026	47,961
Loan Systems and Servicing [Member]
Segment Reporting Information [Line Items]
Total interest income	94	21
Interest expense	0	0
Net interest income	94	21
Less provision for loan losses	0	0
Net interest income (loss) after provision for loan losses	94	21
Other income:
Loan systems and servicing revenue	54,229	52,330
Intersegment servicing revenue	10,323	12,007
Tuition payment processing, school information, and campus commerce revenue	0	0
Communications revenue	0	0
Enrollment services revenue		0
Other income	0	0
Gain from debt repurchases	0	0
Derivative market value and foreign currency transaction adjustments, net	0	0
Derivative settlements, net	0	0
Centrally cleared variation margin settlements, net	0
Total other income	64,552	64,337
Operating expenses:
Salaries and benefits	37,992	32,967
Depreciation and amortization	549	438
Loan servicing fees	0	0
Cost to provide communications services	0	0
Cost to provide enrollment services		0
Other expenses	9,136	11,470
Intersegment expenses, net	7,398	6,241
Total operating expenses	55,075	51,116
Income (loss) before income taxes	9,571	13,242
Income tax (expense) benefit	(4,555)	(5,032)
Net income (loss)	5,016	8,210
Net Income (Loss) Attributable to noncontrolling interests	2,415	0
Net income (loss) attributable to Nelnet, Inc.	7,431	8,210
Tuition Payment Processing and Campus Commerce [Member]
Segment Reporting Information [Line Items]
Total interest income	2	3
Interest expense	0	0
Net interest income	2	3
Less provision for loan losses	0	0
Net interest income (loss) after provision for loan losses	2	3
Other income:
Loan systems and servicing revenue	0	0
Intersegment servicing revenue	0	0
Tuition payment processing, school information, and campus commerce revenue	43,620	38,657
Communications revenue	0	0
Enrollment services revenue		0
Other income	0	0
Gain from debt repurchases	0	0
Derivative market value and foreign currency transaction adjustments, net	0	0
Derivative settlements, net	0	0
Centrally cleared variation margin settlements, net	0
Total other income	43,620	38,657
Operating expenses:
Salaries and benefits	16,652	14,435
Depreciation and amortization	2,391	2,271
Loan servicing fees	0	0
Cost to provide communications services	0	0
Cost to provide enrollment services		0
Other expenses	4,995	4,159
Intersegment expenses, net	2,075	1,512
Total operating expenses	26,113	22,377
Income (loss) before income taxes	17,509	16,283
Income tax (expense) benefit	(6,653)	(6,188)
Net income (loss)	10,856	10,095
Net Income (Loss) Attributable to noncontrolling interests	0	0
Net income (loss) attributable to Nelnet, Inc.	10,856	10,095
Communications [Member]
Segment Reporting Information [Line Items]
Total interest income	1	0
Interest expense	712	147
Net interest income	(711)	(147)
Less provision for loan losses	0	0
Net interest income (loss) after provision for loan losses	(711)	(147)
Other income:
Loan systems and servicing revenue	0	0
Intersegment servicing revenue	0	0
Tuition payment processing, school information, and campus commerce revenue	0	0
Communications revenue	5,106	4,346
Enrollment services revenue		0
Other income	0	0
Gain from debt repurchases	0	0
Derivative market value and foreign currency transaction adjustments, net	0	0
Derivative settlements, net	0	0
Centrally cleared variation margin settlements, net	0
Total other income	5,106	4,346
Operating expenses:
Salaries and benefits	2,979	1,089
Depreciation and amortization	2,135	1,129
Loan servicing fees	0	0
Cost to provide communications services	1,954	1,703
Cost to provide enrollment services		0
Other expenses	1,372	753
Intersegment expenses, net	506	144
Total operating expenses	8,946	4,818
Income (loss) before income taxes	(4,551)	(619)
Income tax (expense) benefit	1,730	235
Net income (loss)	(2,821)	(384)
Net Income (Loss) Attributable to noncontrolling interests	0	0
Net income (loss) attributable to Nelnet, Inc.	(2,821)	(384)
Asset Generation and Management [Member]
Segment Reporting Information [Line Items]
Total interest income	182,326	190,723
Interest expense	106,751	89,877
Net interest income	75,575	100,846
Less provision for loan losses	1,000	2,500
Net interest income (loss) after provision for loan losses	74,575	98,346
Other income:
Loan systems and servicing revenue	0	0
Intersegment servicing revenue	0	0
Tuition payment processing, school information, and campus commerce revenue	0	0
Communications revenue	0	0
Enrollment services revenue		0
Other income	3,342	4,263
Gain from debt repurchases	540	101
Derivative market value and foreign currency transaction adjustments, net	(53,811)	(19,897)
Derivative settlements, net	(1,173)	(6,304)
Centrally cleared variation margin settlements, net	50,401
Total other income	(701)	(21,837)
Operating expenses:
Salaries and benefits	400	519
Depreciation and amortization	0	0
Loan servicing fees	6,025	6,928
Cost to provide communications services	0	0
Cost to provide enrollment services		0
Other expenses	991	1,516
Intersegment expenses, net	10,412	12,107
Total operating expenses	17,828	21,070
Income (loss) before income taxes	56,046	55,439
Income tax (expense) benefit	(21,297)	(21,066)
Net income (loss)	34,749	34,373
Net Income (Loss) Attributable to noncontrolling interests	0	0
Net income (loss) attributable to Nelnet, Inc.	34,749	34,373
Corporate and Other Activities [Member]
Segment Reporting Information [Line Items]
Total interest income	2,761	2,093
Interest expense	795	1,206
Net interest income	1,966	887
Less provision for loan losses	0	0
Net interest income (loss) after provision for loan losses	1,966	887
Other income:
Loan systems and servicing revenue	0	0
Intersegment servicing revenue	0	0
Tuition payment processing, school information, and campus commerce revenue	0	0
Communications revenue	0	0
Enrollment services revenue		4,326
Other income	9,290	9,532
Gain from debt repurchases	4,440	0
Derivative market value and foreign currency transaction adjustments, net	(42)	(2,256)
Derivative settlements, net	(205)	(232)
Centrally cleared variation margin settlements, net	0
Total other income	13,483	11,370
Operating expenses:
Salaries and benefits	13,839	14,231
Depreciation and amortization	3,523	3,802
Loan servicing fees	0	0
Cost to provide communications services	0	0
Cost to provide enrollment services		3,623
Other expenses	10,054	10,477
Intersegment expenses, net	(10,068)	(7,997)
Total operating expenses	17,348	24,136
Income (loss) before income taxes	(1,899)	(11,879)
Income tax (expense) benefit	2,021	7,617
Net income (loss)	122	(4,262)
Net Income (Loss) Attributable to noncontrolling interests	(309)	(68)
Net income (loss) attributable to Nelnet, Inc.	(187)	(4,330)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total interest income	(1,359)	(823)
Interest expense	(1,359)	(823)
Net interest income	0	0
Less provision for loan losses	0	0
Net interest income (loss) after provision for loan losses	0	0
Other income:
Loan systems and servicing revenue	0	0
Intersegment servicing revenue	(10,323)	(12,007)
Tuition payment processing, school information, and campus commerce revenue	0	0
Communications revenue	0	0
Enrollment services revenue		0
Other income	0	0
Gain from debt repurchases	0	0
Derivative market value and foreign currency transaction adjustments, net	0	0
Derivative settlements, net	0	0
Centrally cleared variation margin settlements, net	0
Total other income	(10,323)	(12,007)
Operating expenses:
Salaries and benefits	0	0
Depreciation and amortization	0	0
Loan servicing fees	0	0
Cost to provide communications services	0	0
Cost to provide enrollment services		0
Other expenses	0	0
Intersegment expenses, net	(10,323)	(12,007)
Total operating expenses	(10,323)	(12,007)
Income (loss) before income taxes	0	0
Income tax (expense) benefit	0	0
Net income (loss)	0	0
Net Income (Loss) Attributable to noncontrolling interests	0	0
Net income (loss) attributable to Nelnet, Inc.	$ 0	$ 0

Major Customer (Details)

Major Customer (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Concentration Risk [Line Items]
Concentration Risk, Customer	Department of Education	Department of Education
Concentration Risk Dollar Value [Member]
Concentration Risk [Line Items]
Loan systems and servicing revenue	$ 39	$ 35.2
GreatNet [Member]
Concentration Risk [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	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	Mar. 31, 2017	Dec. 31, 2016
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	$ 123,566	$ 106,593
Fair value of derivative instruments	39,652	87,531
Total assets	163,218	194,124
Liabilities, Fair Value Disclosure [Abstract]
Fair value of derivative instruments	79,095	77,826
Total liabilities	79,095	77,826
Student loan asset-backed securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	120,506	103,780
Equity securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	2,845	2,694
Debt securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	215	119
Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	3,060	2,813
Fair value of derivative instruments	0	0
Total assets	3,060	2,813
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	2,845	2,694
Level 1 [Member] | Debt securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	215	119
Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	120,506	103,780
Fair value of derivative instruments	39,652	87,531
Total assets	160,158	191,311
Liabilities, Fair Value Disclosure [Abstract]
Fair value of derivative instruments	79,095	77,826
Total liabilities	79,095	77,826
Level 2 [Member] | Student loan asset-backed securities [Member]
Assets, Fair Value Disclosure [Abstract]
Investments, Fair Value Disclosure	120,506	103,780
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 ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	$ 24,003,386	$ 24,903,724
Cash and cash equivalents	108,160	69,654	$ 51,034	$ 63,529
Investments (available-for-sale and trading)	273,818	254,144
Restricted cash	787,635	980,961
Restricted cash - due to customers	93,699	119,702
Accrued interest receivable	392,754	391,264
Derivative instruments	39,652	87,531
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	23,594,516	24,668,490
Accrued interest payable	46,427	45,677
Due to customers	93,699	119,702
Fair value of derivative instruments	79,095	77,826
Fair value [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	25,036,613	25,653,581
Cash and cash equivalents	108,160	69,654
Investments (available-for-sale and trading)	123,566	106,593
Notes Receivable	16,563	17,031
Restricted cash		980,961
Restricted cash - due to customers	93,699	119,702
Accrued interest receivable	392,754	391,264
Derivative instruments	39,652	87,531
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	23,526,104	24,220,996
Accrued interest payable	46,427	45,677
Due to customers	93,699	119,702
Fair value of derivative instruments	79,095	77,826
Fair value [Member] | Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	0	0
Cash and cash equivalents	108,160	69,654
Investments (available-for-sale and trading)	3,060	2,813
Notes Receivable	0	0
Restricted cash	787,635	980,961
Restricted cash - due to customers	93,699	119,702
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	93,699	119,702
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)	120,506	103,780
Notes Receivable	16,563	17,031
Restricted cash	0	0
Restricted cash - due to customers	0	0
Accrued interest receivable	392,754	391,264
Derivative instruments	39,652	87,531
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	23,526,104	24,220,996
Accrued interest payable	46,427	45,677
Due to customers	0	0
Fair value of derivative instruments	79,095	77,826
Fair value [Member] | Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Student loans receivable	25,036,613	25,653,581
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
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	24,003,386	24,903,724
Cash and cash equivalents	108,160	69,654
Investments (available-for-sale and trading)	123,566	106,593
Notes Receivable	16,563	17,031
Restricted cash	787,635	980,961
Restricted cash - due to customers	93,699	119,702
Accrued interest receivable	392,754	391,264
Derivative instruments	39,652	87,531
Liabilities, Fair Value Disclosure [Abstract]
Bonds and notes payable	23,594,516	24,668,490
Accrued interest payable	46,427	45,677
Due to customers	93,699	119,702
Fair value of derivative instruments	$ 79,095	$ 77,826