Nelnet (NNI) 10-Q 8 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018
Document Information [Line Items]
Entity Registrant Name	NELNET INC
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	1,258,602
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		29,212,160
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,468,587

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets:
Loans receivable (net of allowance for loan losses of $55,294 and $54,590, respectively)	$ 21,562,030	$ 21,814,507
Cash and cash equivalents:
Cash and cash equivalents - not held at a related party	17,200	6,982
Cash and cash equivalents - held at a related party	52,086	59,770
Total cash and cash equivalents	69,286	66,752
Investments and notes receivable	258,426	240,538
Restricted cash	727,471	688,193
Restricted cash – due to customers	128,515	187,121
Accrued interest receivable	489,395	430,385
Accounts receivable (net of allowance for doubtful accounts of $1,627 and $1,436, respectively)	61,394	37,863
Goodwill	158,456	138,759
Intangible assets, net	107,192	38,427
Property and equipment, net	299,837	248,051
Other assets	34,509	73,021
Fair value of derivative instruments	1,891	818
Total assets	23,898,402	23,964,435
Liabilities:
Bonds and notes payable	21,227,349	21,356,573
Accrued interest payable	54,252	50,039
Other liabilities	237,459	198,252
Due to customers	128,515	187,121
Fair value of derivative instruments	5,601	7,063
Total liabilities	21,653,176	21,799,048
Commitments and contingencies
Nelnet, Inc. shareholders' equity:
Preferred stock	0	0
Additional paid-in capital	448	521
Retained earnings	2,231,875	2,143,983
Accumulated other comprehensive earnings	3,022	4,617
Total Nelnet, Inc. shareholders' equity	2,235,753	2,149,529
Noncontrolling interests	9,473	15,858
Total equity	2,245,226	2,165,387
Total liabilities and equity	23,898,402	23,964,435
Common Class A [Member]
Nelnet, Inc. shareholders' equity:
Common stock	293	293
Common Class B [Member]
Nelnet, Inc. shareholders' equity:
Common stock	115	115
Supplemental information - assets and liabilities of concolidated education lending variable interest entities: [Member]
Assets:
Loans receivable (net of allowance for loan losses of $55,294 and $54,590, respectively)	21,633,845	21,909,476
Cash and cash equivalents:
Restricted cash	682,446	641,994
Other assets	490,747	431,934
Liabilities:
Bonds and notes payable	21,450,983	21,702,298
Other liabilities	186,611	168,637
Nelnet, Inc. shareholders' equity:
Net assets of consolidated education lending variable interest entities	$ 1,169,444	$ 1,112,469

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Allowance for loan losses	$ 55,294	$ 54,590
Allowance for doubtful accounts	$ 1,627	$ 1,436
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares (in shares)	50,000,000	50,000,000
Preferred stock, issued shares (in shares)	0	0
Preferred stock, outstanding shares (in shares)	0	0
Common Class A [Member]
Par Value (in dollars per share)	$ 0.01	$ 0.01
Shares Authorized (in shares)	600,000,000	600,000,000
Shares Issued (in shares)	29,289,689	29,341,517
Shares Outstanding (in shares)	29,289,689	29,341,517
Common Class B [Member]
Par Value (in dollars per share)	$ 0.01	$ 0.01
Shares Authorized (in shares)	60,000,000	60,000,000
Shares Issued (in shares)	11,468,587	11,468,587
Shares Outstanding (in shares)	11,468,587	11,468,587

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Interest income:
Loan interest	$ 197,723	$ 181,207
Investment interest	5,134	2,617
Total interest income	202,857	183,824
Interest expense:
Interest on bonds and notes payable	135,550	106,899
Net interest income	67,307	76,925
Less provision for loan losses	4,000	1,000
Net interest income (loss) after provision for loan losses	63,307	75,925
Other income:
Loan servicing and systems revenue	100,141	54,229
Education technology, services, and payment processing revenue	60,221	56,024
Communications revenue	9,189	5,106
Other income	18,198	12,632
Gain from debt repurchases	359	4,980
Derivative market value and foreign currency transaction adjustments and derivative settlements, net	66,799	(4,830)
Total other income	254,907	128,141
Cost of services:
Cost to provide education technology, services, and payment processing services	13,683	12,790
Cost to provide communications services	3,717	1,954
Total cost of services	17,400	14,744
Operating expenses:
Salaries and benefits	96,643	71,863
Depreciation and amortization	18,457	8,598
Loan servicing fees	3,136	6,025
Other expenses	33,417	26,161
Total operating expenses	151,653	112,647
Income before income taxes	149,161	76,675
Income tax expense	35,976	28,755
Net income (loss)	113,185	47,920
Net loss attributable to noncontrolling interests	740	2,106
Net income (loss) attributable to Nelnet, Inc.	$ 113,925	$ 50,026
Earnings per common share:
Net income attributable to Nelnet, Inc. shareholders - basic and diluted (in dollars per share)	$ 2.78	$ 1.18
Weighted average common shares outstanding - basic and diluted (in shares)	40,950,528	42,291,857

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 113,185	$ 47,920
Available-for-sale securities:
Unrealized holding (losses) gains arising during period, net	(1,061)	1,259
Reclassification adjustment for gains recognized in net income, net of losses	(47)	(331)
Income tax effect	256	(343)
Total other comprehensive (loss) income	(852)	585
Comprehensive income	112,333	48,505
Comprehensive loss attributable to noncontrolling interests	740	2,106
Comprehensive income attributable to Nelnet, Inc.	$ 113,073	$ 50,611

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]Common Class A [Member]	Common Stock [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, 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 (loss)	47,920					50,026		2,106
Other comprehensive 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
Issuance of common stock, net of forfeitures	2,090		$ 1		2,089
Compensation expense for stock based awards	1,096				1,096
Repurchase of common stock (in shares)			(31,716)
Repurchase of common stock	(1,369)				(1,369)
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Impact of adoption of new accounting standards	1,264					2,007	(743)
Balance (in shares) at Dec. 31, 2017		0	29,341,517	11,468,587
Balance at Dec. 31, 2017	2,165,387	$ 0	$ 293	$ 115	521	2,143,983	4,617	15,858
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	26							26
Net income (loss)	113,185					113,925		740
Other comprehensive income	(852)						(852)
Distribution to noncontrolling interests	(19)							(19)
Cash dividend on Class A and Class B common stock	(6,506)					(6,506)
Issuance of common stock, net of forfeitures (in shares)			170,346
Issuance of common stock, net of forfeitures	2,173		$ 2		2,171
Compensation expense for stock based awards	1,087				1,087
Repurchase of common stock (in shares)			(222,174)
Repurchase of common stock	(11,418)		$ (2)		(3,331)	(8,085)
Acquisition of noncontrolling interest	(19,101)					(13,449)		(5,652)
Balance (in shares) at Mar. 31, 2018		0	29,289,689	11,468,587
Balance at Mar. 31, 2018	$ 2,245,226	$ 0	$ 293	$ 115	$ 448	$ 2,231,875	$ 3,022	$ 9,473

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Common Class A [Member]
Dividends paid per common share (in dollars per share)	$ 0.16	$ 0.14
Common Class B [Member]
Dividends paid per common share (in dollars per share)	$ 0.16	$ 0.14

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Cash Flows [Abstract]
Net income (loss) attributable to Nelnet, Inc.	$ 113,925	$ 50,026
Net loss attributable to noncontrolling interests	(740)	(2,106)
Net income (loss)	113,185	47,920
Adjustments to reconcile net income to net cash provided by operating activities, net of acquisition:
Depreciation and amortization, including debt discounts and loan premiums and deferred origination costs	43,301	34,310
Loan discount accretion	(11,691)	(12,014)
Provision for loan losses	4,000	1,000
Derivative market value adjustment	(60,033)	(1,238)
Unrealized foreign currency transaction adjustment	0	4,690
Proceeds from clearinghouse to settle variation margin, net	62,689	0
Gain from debt repurchases	(359)	(4,980)
Gain from equity securities, net of losses	(6,838)	0
Deferred income tax expense (benefit)	16,883	(1,753)
Non-cash compensation expense	1,161	1,121
Other	(4,302)	242
Increase in loan accrued interest receivable	(59,038)	(1,490)
Decrease (increase) in accounts receivable	177	(282)
Decrease (increase) in other assets	49,415	(1,397)
Increase in accrued interest payable	4,213	750
(Decrease) increase in other liabilities	(36,205)	6,954
Decrease in due to customers	(58,606)	(26,003)
Net cash provided by operating activities	57,952	47,830
Cash flows from investing activities, net of acquisition:
Purchases of loans	(610,855)	(50,126)
Net proceeds from loan repayments, claims, capitalized interest, and other	863,270	953,698
Purchases of available-for-sale securities	(28,164)	(53,530)
Proceeds from sales of available-for-sale securities	21,951	37,809
Purchases of investments and issuance of notes receivable	(16,370)	(4,898)
Proceeds from investments and notes receivable	9,718	1,605
Purchases of property and equipment	(28,068)	(26,469)
Business acquisition, net of cash acquired	(109,152)	0
Net cash provided by investing activities	102,330	858,089
Cash flows from financing activities:
Payments on bonds and notes payable	(901,008)	(1,128,899)
Proceeds from issuance of bonds and notes payable	756,700	37,496
Payments of debt issuance costs	(1,650)	(364)
Dividends paid	(6,506)	(5,896)
Repurchases of common stock	(11,418)	(1,369)
Proceeds from issuance of common stock	274	0
Acquisition of noncontrolling interest	(13,449)	0
Issuance of noncontrolling interests	0	12,600
Distribution to noncontrolling interests	(19)	(310)
Net cash used in financing activities	(177,076)	(1,086,742)
Net decrease in cash, cash equivalents, and restricted cash	(16,794)	(180,823)
Cash, cash equivalents, and restricted cash, beginning of period	942,066	1,170,317
Cash, cash equivalents, and restricted cash, end of period	925,272	989,494
Supplemental disclosures of cash flow information:
Cash disbursements made for interest	114,243	88,066
Cash (refunds received) disbursements made for income taxes, net	$ (30,569)	$ 1,180

Consolidated Statements of Cas9

Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows Cash, Cash Equivalents And Restricted Cash Reconciliation - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Statement of Cash Flows [Abstract]
Total cash and cash equivalents	$ 69,286	$ 66,752	$ 108,160	$ 69,654
Restricted cash	727,471	688,193	787,635	980,961
Restricted cash – due to customers	128,515	187,121	93,699	119,702
Cash, cash equivalents, and restricted cash	$ 925,272	$ 942,066	$ 989,494	$ 1,170,317

Basis of Financial Reporting

Basis of Financial Reporting	3 Months Ended
	Mar. 31, 2018
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, 2018 and for the three months ended March 31, 2018 and 2017 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2017 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, 2018 are not necessarily indicative of the results for the year ending December 31, 2018 . 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, 2017 (the " 2017 Annual Report"). Reporting Segment Name Changes The Company changed the name of the Tuition Payment Processing and Campus Commerce operating segment to Education Technology, Services, and Payment Processing this quarter to better describe the evolution of services this operating segment provides. In addition, the Loan Systems and Servicing segment was retitled as Loan Servicing and Systems. As a result, the line items "tuition payment processing, school information, and campus commerce revenue" and "loan systems and servicing revenue" on the consolidated statements of income were changed to "education technology, services, and payment processing revenue" and "loan servicing and systems revenue," respectively. Reclassifications Certain amounts previously reported within the Company's consolidated balance sheet and statements of income have been reclassified to conform to the current period presentation. These reclassifications include: • Reclassifying certain non-customer receivables, which were previously included in "accounts receivable" to "other assets." • Reclassifying direct costs to provide services for education technology, services, and payment processing, which were previously included in "other expenses" to "cost to provide education technology, services, and payment processing services." • Reclassifying the line item "cost to provide communications services" on the statements of income from part of "operating expenses" and presenting such costs as part of "cost of services." Accounting Standards Adopted in 2018 In the first quarter of 2018, the Company adopted the following new accounting guidance: Revenue Recognition In May 2014, the Financial Accounting Standards Board ("FASB") issued a new standard related to revenue recognition. Under the standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted the standard effective January 1, 2018, using the full retrospective method, which required it to restate each prior reporting period presented. As a result, the Company has changed its accounting policy for revenue recognition as detailed in note 2, “Summary of Significant Accounting Policies and Practices.” The most significant impact of the standard relates to identifying the Company's Education Technology, Services, and Payment Processing operating segment as the principal in its payment services transactions. As a result of this change, the Company will present the payment services revenue gross with the direct costs to provide these services presented separately. The majority of the Company's revenue earned in its Asset Generation and Management operating segment, including loan interest and derivative activity, is explicitly excluded from the scope of the new guidance. Other than the payment services transactions discussed above, the Company’s other fee-based operating segments will recognize revenue consistent with historical revenue recognition patterns. Impacts to Previously Reported Results Adoption of the revenue recognition standard impacted the Company’s previously reported results on the consolidated statements of income as follows: Three months ended March 31, 2017 As previously reported Impact of adoption As restated Education technology, services, and payment processing revenue $ 43,620 12,404 56,024 Cost to provide education technology, services, and payment processing services — 12,404 12,404 (a) (a) In addition to the impact of adopting the new revenue recognition standard, as discussed above, the Company reclassed other direct costs to provide education technology, services, and payment processing revenue which were previously reported as part of "other expenses" to "cost to provide education technology, services, and payment processing services." Adoption of the new revenue recognition standard had no impact to the consolidated balance sheets or cash provided by or used in operating, financing, or investing activities on the consolidated statements of cash flows. Equity Investments In January 2016, the FASB issued new accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The guidance requires equity investments with readily determinable fair values to be measured at fair value, with changes in the fair value recognized through net income (other than those equity investments accounted for under the equity method of accounting or those that result in consolidation of the investee). An entity may choose to measure equity investments without readily determinable fair values at fair value or use the measurement alternative of cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. In addition, the impairment assessment is simplified by requiring a qualitative assessment to identify impairment. The guidance requires a cumulative-effect adjustment to retained earnings as of the beginning of the reporting period of adoption to reclassify the cumulative change in fair value of equity securities with readily determinable fair values previously recognized in accumulated other comprehensive income; and along with a related clarifying update, was adopted by the Company as of January 1, 2018. Upon adoption, the Company recorded an immaterial cumulative-effect adjustment to retained earnings, accumulated other comprehensive earnings, and investments and notes receivable. Subsequent to the adoption, the Company is accounting for the majority of its equity investments without readily determinable fair values using the measurement alternative. Other Comprehensive Income In February 2018, the FASB issued guidance which allows a reclassification from accumulated other comprehensive earnings to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act, which became effective on January 1, 2018. This guidance is effective for fiscal years beginning after December 15, 2018, but early adoption is permitted in periods for which financial statements have not yet been issued. The Company elected to early adopt this guidance as of January 1, 2018. Upon adoption, the Company recorded an immaterial reclassification between accumulated other comprehensive earnings and retained earnings. Restricted Cash In November 2016, the FASB issued accounting guidance related to restricted cash. The new standard requires that the statement of cash flows present the change during the period in the total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents, and a reconciliation of such total to amounts on the balance sheet. The Company adopted the standard effective January 1, 2018 using the retrospective transition method. Adoption of this standard impacted the Company's previously reported results on the consolidated statements of cash flows as follows: Three months ended March 31, 2017 As previously reported Impact of adoption As restated Decrease in due to customers $ — (26,003 ) (26,003 ) Net cash provided by operating activities 73,833 (26,003 ) 47,830 Decrease in restricted cash 193,326 (193,326 ) — Net cash provided by investing activities 1,051,415 (193,326 ) 858,089

Summary of Significant Accounti

Summary of Significant Accounting Policies and Practices	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Practices	Summary of Significant Accounting Policies and Practices Except for the changes below, no material changes have been made to the Company’s significant accounting policies disclosed in note 3, Summary of Significant Accounting Policies and Practices, in its 2017 Annual Report. Revenue Recognition The Company applies the provisions of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"), to its fee-based operating segments. The majority of the Company’s revenue earned in its Asset Generation and Management operating segment, including loan interest and derivative activity, is explicitly excluded from the scope of ASC Topic 606. The Company recognizes revenue under the core principle of ASC Topic 606 to depict the transfer of control of products and services to the Company’s customers in an amount reflecting the consideration to which the Company expects to be entitled. In order to achieve that core principle, the Company applies the following five step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when a performance obligation is satisfied. Additional information related to the Company's revenue recognition of specific items is further provided below. The Company’s contracts with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Loan servicing and systems revenue - Loan servicing and systems revenue consists of the following items: • Loan servicing revenue - Loan servicing revenue consideration is determined from individual contracts with customers and is calculated monthly based on the dollar value of loans, number of loans, or number of borrowers serviced for each customer. Loan servicing requires a significant level of integration and the individual components are not considered distinct. The Company will perform various services during each distinct service period. Even though the mix and quantity of activities that the Company performs each period may differ, the nature of the promise is substantially the same. Revenue is allocated to the distinct service period, typically a month, and recognized as control transfers as customers simultaneously consume and receive benefits. • Software services revenue - Software services revenue consideration is determined from individual contracts with customers and includes license and maintenance fees associated with loan software products, generally in a remote hosted environment, and computer and software consulting. Usage-based revenue from remote hosted licenses is allocated to and recognized in the distinct service period, typically a month, and recognized as control transfers, and non-refundable up-front revenue is recognized ratably over the contract period as customers simultaneously consume and receive benefits. Loan conversion activities in certain customer contracts are capable of being distinct and accounted for as a separate performance obligation. Revenue allocated to loan conversion activities is recognized at the point in time when the conversion is complete. Computer and software consulting is also capable of being distinct and accounted for as a separate performance obligation. Revenue allocated to computer and software consulting is recognized as services are provided. • Outsourced services revenue - Outsourced services revenue consideration is determined from individual contracts with customers and is calculated monthly based on the volume of services. Revenue is allocated to the distinct service period, typically a month, and recognized as control transfers as customers simultaneously consume and receive benefits. The following table provides disaggregated revenue by service offering: Three months ended March 31, 2018 2017 Government servicing - Nelnet $ 39,327 39,007 Government servicing - Great Lakes (a) 30,754 — Private education and consumer loan servicing 13,101 5,817 FFELP servicing 7,691 4,077 Software services 7,589 4,337 Outsourced services revenue and other 1,679 991 Loan servicing and systems revenue $ 100,141 54,229 (a) Great Lakes Educational Loan Services, Inc. ("Great Lakes") was acquired by the Company on February 7, 2018. For additional information about the acquisition, see note 7. Education technology, services, and payment processing revenue - Education technology, services, and payment processing revenue consists of the following items: • Tuition payment plan services - Tuition payment plan services consideration is determined from individual plan agreements, which are governed by plan service agreements, and includes access to a remote hosted environment and management of payment processing. The management of payment processing is considered a distinct performance obligation when sold with the remote hosted environment. Revenue for each performance obligation is allocated to the distinct service period, the academic school term, and recognized ratably over the service period as customers simultaneously consume and receive benefits. • Education technology and services - Education technology and services consideration is determined from individual contracts with customers and is determined based on the services selected by the customer. Services in K-12 private and faith based schools include (i) assistance with financial needs assessment, (ii) automating administrative processes such as admissions, online applications and enrollment services, scheduling, student billing, attendance, and grade book management, and (iii) professional development and educational instruction services. Revenue for these services is recognized for the consideration the Company has a right to invoice. The amount the Company has a right to invoice is an amount that corresponds directly with the value provided to the customer based on the performance completed. Services also include innovative education-focused technologies, services, and support solutions to help schools with the everyday challenges of collecting and processing commerce data. These services are considered distinct performance obligations. Revenue for each performance obligation is allocated to the distinct service period, typically a month or based on when each transaction is completed, and recognized as control transfers as customers simultaneously consume and receive benefits. • Payment processing - Payment processing consideration is determined from individual contracts with customers and includes electronic transfer and credit card processing, reporting, virtual terminal solutions, and specialized integrations to business software for education and non-education markets. Volume-based revenue from payment processing is allocated and recognized to the distinct service period, based on when each transaction is completed, and recognized as control transfers as customers simultaneously consume and receive benefits. The following table provides disaggregated revenue by service offering: Three months ended March 31, 2018 2017 Tuition payment plan services $ 23,043 21,787 Payment processing 19,926 18,945 Education technology and services 16,975 15,147 Other 277 145 Education technology, services, and payment processing revenue $ 60,221 56,024 Cost to provide education technology, services, and payment processing services is primarily associated with providing payment processing services. Interchange and payment network fees are charged by the card associations or payment networks. Depending upon the transaction type, the fees are a percentage of the transaction’s dollar value, a fixed amount, or a combination of the two methods. Other costs included in cost to provide education technology, services, and payment processing services include salaries and benefits and outside professional services costs directly related to providing professional development and educational instruction services to teachers, school leaders, and students. Communications revenue - Communications revenue is derived principally from internet, television, and telephone services and is billed as a flat fee in advance of providing the service. Revenues for usage-based services, such as access charges billed to other telephone carriers for originating and terminating long-distance calls on the Company's network, are billed in arrears. These are each considered distinct performance obligations. Revenue is recognized monthly for the consideration the Company has a right to invoice. The amount the Company has a right to invoice is an amount that corresponds directly with the value provided to the customer based on the performance completed. The Company recognizes revenue from these services in the period the services are rendered rather than billed. The Company records deferred revenue when revenue is recognized subsequent to invoicing. Earned but unbilled usage-based services are recorded in accounts receivable. The following table provides disaggregated revenue by service offering and customer type: Three months ended March 31, 2018 2017 Internet $ 4,696 2,202 Television 2,783 1,623 Telephone 1,689 1,262 Other 21 19 Communications revenue $ 9,189 5,106 Residential revenue $ 6,747 3,351 Business revenue 2,381 1,696 Other revenue 61 59 Communications revenue $ 9,189 5,106 Cost to provide communications services is primarily associated with television programming costs. The Company has various contracts to obtain video programming from programming vendors whose compensation is typically based on a flat fee per customer. The cost of the right to exhibit network programming under such arrangements is recorded in the month the programming is available for exhibition. Programming costs are paid each month based on calculations performed by the Company and are subject to periodic audits performed by the programmers. Other costs included in cost to provide communications services include connectivity, franchise, and other regulatory costs directly related to providing internet and voice services. Other income - The following table provides the components of "other income" on the consolidated statements of income: Three months ended March 31, 2018 2017 Realized and unrealized gains on investments, net $ 9,081 324 Borrower late fee income 2,983 3,319 Investment advisory fees 1,593 3,516 Management fee revenue 1,161 — Peterson's revenue — 2,836 Other 3,380 2,637 Other income $ 18,198 12,632 • Borrower late fee income - Late fee income is earned by the education lending subsidiaries. Revenue is allocated to the distinct service period, based on when each transaction is completed. • Investment advisory fees - Investment advisory services are provided by the Company through an SEC-registered investment advisor subsidiary under various arrangements. The Company earns monthly fees based on the monthly outstanding balance of investments and certain performance measures, which are recognized monthly as the uncertainty of the transaction price is resolved. • Management fee revenue - Management fee revenue is earned for technology and certain administrative support services provided to Great Lakes' former parent company. Revenue is allocated to the distinct service period, based on when each transaction is completed. • Peterson's revenue - The Company earned revenue related to digital marketing and content solution products and services under the brand name Peterson's. These products and services included test preparation study guides, school directories and databases, career exploration guides, on-line courses and test preparation, scholarship search and selection data, career planning information and guides, and on-line information about colleges and universities. Several content solutions services included services to connect students to colleges and universities, and were sold based on subscriptions. Revenue from sales of subscription services was recognized ratably over the term of the contract as it was earned. Subscription revenue received or receivable in advance of the delivery of services was included in deferred revenue. Revenue from the sale of print products was generally earned and recognized, net of estimated returns, upon shipment or delivery. All other digital marketing and content solutions revenue was recognized over the period in which services were provided to customers. On December 31, 2017, the Company sold Peterson's. The Company applied a practical expedient allowed for the retrospective comparative period which does not require the Company to restate revenue from contracts that began and were completed within the same annual reporting period. Contract Balances - The following table provides information about contract liabilities from contracts with customers: As of March 31, 2018 As of December 31, 2017 Deferred revenue, which is included in "other liabilities" on the consolidated balance sheets $ 22,715 32,276 Timing of revenue recognition may differ from the timing of invoicing to customers. The Company records deferred revenue when revenue is recognized subsequent to invoicing. For multi-year contracts, the Company generally invoices customers annually at the beginning of each annual coverage period. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined its contracts do not include a significant financing component. Activity in the deferred revenue balance is shown below: Three months ended March 31, 2018 2017 Balance, beginning of period $ 32,276 33,141 Deferral of revenue 17,050 15,918 Recognition of unearned revenue (26,802 ) (24,878 ) Other 191 87 Balance, end of period $ 22,715 24,268 Assets Recognized from the Costs to Obtain a Contract with a Customer - The Company recognizes an asset for the incremental costs of obtaining a contract with a customer if it expects the benefit of those costs to be longer than one year. The Company has determined that certain sales incentive programs meet the requirements to be capitalized. Total capitalized costs to obtain a contract were immaterial during the periods presented and are included in “other assets” on the consolidated balance sheets.

Loans Receivable and Allowance

Loans Receivable and Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Loans Receivable and Allowance for Loan Losses	Loans Receivable and Allowance for Loan Losses Loans receivable consisted of the following: As of As of March 31, 2018 December 31, 2017 Federally insured student loans: Stafford and other $ 4,363,159 4,418,881 Consolidation 17,098,389 17,302,725 Total 21,461,548 21,721,606 Private education loans 194,310 212,160 Consumer loans 77,855 62,111 21,733,713 21,995,877 Loan discount, net of unamortized loan premiums and deferred origination costs (103,542 ) (113,695 ) Non-accretable discount (12,847 ) (13,085 ) Allowance for loan losses: Federally insured loans (38,374 ) (38,706 ) Private education loans (12,255 ) (12,629 ) Consumer loans (4,665 ) (3,255 ) $ 21,562,030 21,814,507 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 loans. Activity in the allowance for loan losses is shown below. Three months ended March 31, 2018 Balance at beginning of period Provision for loan losses Charge-offs Recoveries Other Balance at end of period Federally insured loans $ 38,706 2,000 (3,332 ) — 1,000 38,374 Private education loans 12,629 — (539 ) 165 — 12,255 Consumer loans 3,255 2,000 (595 ) 5 — 4,665 $ 54,590 4,000 (4,466 ) 170 1,000 55,294 Three months ended March 31, 2017 Federally insured loans $ 37,268 2,000 (2,581 ) — — 36,687 Private education loans 14,574 (1,000 ) (82 ) 197 150 13,839 Consumer loans — — — — — — $ 51,842 1,000 (2,663 ) 197 150 50,526 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 for federally insured and private education loans. As of March 31, 2018 As of December 31, 2017 As of March 31, 2017 Federally insured loans: Loans in-school/grace/deferment $ 1,312,319 $ 1,260,394 $ 1,604,494 Loans in forbearance 1,650,913 1,774,405 2,125,344 Loans in repayment status: Loans current 16,368,668 88.5 % 16,477,004 88.2 % 17,690,083 87.5 % Loans delinquent 31-60 days 669,490 3.6 682,586 3.7 732,433 3.6 Loans delinquent 61-90 days 426,696 2.3 374,534 2.0 493,876 2.4 Loans delinquent 91-120 days 252,659 1.4 287,922 1.5 275,711 1.4 Loans delinquent 121-270 days 570,538 3.1 629,480 3.4 763,030 3.8 Loans delinquent 271 days or greater 210,265 1.1 235,281 1.2 255,122 1.3 Total loans in repayment 18,498,316 100.0 % 18,686,807 100.0 % 20,210,255 100.0 % Total federally insured loans $ 21,461,548 $ 21,721,606 $ 23,940,093 Private education loans: Loans in-school/grace/deferment $ 5,532 $ 6,053 $ 34,138 Loans in forbearance 2,574 2,237 3,811 Loans in repayment status: Loans current 178,976 96.1 % 196,720 96.5 % 213,081 97.4 % Loans delinquent 31-60 days 1,630 0.9 1,867 0.9 1,355 0.6 Loans delinquent 61-90 days 1,110 0.6 1,052 0.5 1,402 0.6 Loans delinquent 91 days or greater 4,488 2.4 4,231 2.1 3,029 1.4 Total loans in repayment 186,204 100.0 % 203,870 100.0 % 218,867 100.0 % Total private education loans $ 194,310 $ 212,160 $ 256,816

Bonds and Notes Payable

Bonds and Notes Payable	3 Months Ended
	Mar. 31, 2018
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, 2018 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 $ 20,132,994 1.85% - 3.99% 4/25/24 - 5/25/66 Bonds and notes based on auction 766,948 2.20% - 2.88% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 20,899,942 FFELP warehouse facilities 339,063 1.94% / 2.00% 11/19/19 / 5/31/20 Variable-rate bonds and notes issued in private education loan asset-backed securitization 66,765 3.62% 12/26/40 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 76,193 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit 150,000 3.20% 12/12/21 Unsecured debt - Junior Subordinated Hybrid Securities 20,381 5.68% 9/15/61 Other borrowings 29,450 3.16% - 3.66% 3/31/23 - 12/15/45 21,581,794 Discount on bonds and notes payable and debt issuance costs (354,445 ) Total $ 21,227,349 As of December 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 $ 20,352,045 1.47% - 3.37% 8/25/21 - 2/25/66 Bonds and notes based on auction 780,829 2.09% - 2.69% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 21,132,874 FFELP warehouse facilities 335,992 1.55% / 1.56% 11/19/19 / 5/31/20 Variable-rate bonds and notes issued in private education loan asset-backed securitization 74,717 3.30% 12/26/40 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 82,647 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit 10,000 2.98% 12/12/21 Unsecured debt - Junior Subordinated Hybrid Securities 20,381 5.07% 9/15/61 Other borrowings 70,516 2.44% - 3.38% 1/12/18 - 12/15/45 21,727,127 Discount on bonds and notes payable and debt issuance costs (370,554 ) Total $ 21,356,573 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, 2018 , the Company had two FFELP warehouse facilities as summarized below. NFSLW-I NHELP-II Total Maximum financing amount $ 500,000 500,000 1,000,000 Amount outstanding 49,623 289,440 339,063 Amount available $ 450,377 210,560 660,937 Expiration of liquidity provisions September 20, 2019 May 31, 2018 Final maturity date November 19, 2019 May 31, 2020 Maximum advance rates 92.0 - 98.0% 85.0 - 95.0% Minimum advance rates 84.0 - 90.0% 85.0 - 95.0% Advanced as equity support $ 2,402 25,269 27,671 Asset-Backed Securitizations The following table summarizes the asset-backed securitization transactions completed during the first three months of 2018 . NSLT 2018-1 Total Class A-1 Notes Class A-2 Notes Date securities issued 3/29/18 3/29/18 Total principal amount $ 98,000 375,750 473,750 Cost of funds 1-month LIBOR plus 0.32% 1-month LIBOR plus 0.76% Final maturity date 5/25/66 5/25/66 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, 2018 , $150.0 million was outstanding on the line of credit and $200.0 million was available for future use. Debt Repurchases During the three months ended March 31, 2018, the Company repurchased $12.9 million of its own FFELP asset backed securities. The Company paid $12.5 million to redeem these notes and recognized a gain of $0.4 million . The majority of the gain recognized by the Company from debt repurchases in the three months ended March 31, 2017 was from the Company's cash tender offer in which it repurchased $29.7 million in outstanding Hybrid Securities for $25.3 million in cash.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2018
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 6 of the notes to consolidated financial statements included in the 2017 Annual Report. A tabular presentation of such derivatives outstanding as of March 31, 2018 and December 31, 2017 is presented below. Basis Swaps The following table summarizes the Company’s outstanding basis swaps 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, 2018 2017 Maturity Notional amount Notional amount 2018 $ 1,750,000 4,250,000 2019 3,500,000 3,500,000 2022 1,000,000 1,000,000 2023 750,000 — 2024 250,000 250,000 2026 1,150,000 1,150,000 2027 375,000 375,000 2028 325,000 325,000 2029 100,000 100,000 2031 300,000 300,000 $ 9,500,000 11,250,000 The weighted average rate paid by the Company on the 1:3 Basis Swaps as of March 31, 2018 and December 31, 2017 was one-month LIBOR plus 10.6 basis points and 12.5 basis points, respectively. Interest Rate Swaps – Floor Income Hedges The following table summarizes the outstanding derivative instruments used by the Company to economically hedge loans earning fixed rate floor income. As of March 31, 2018 As of December 31, 2017 Maturity Notional amount Weighted average fixed rate paid by the Company (a) Notional amount Weighted average fixed rate paid by the Company (a) 2018 $ 1,250,000 1.08 % $ 1,350,000 1.07 % 2019 3,250,000 0.97 3,250,000 0.97 2020 1,500,000 1.01 1,500,000 1.01 2023 750,000 2.28 750,000 2.28 2024 300,000 2.28 300,000 2.28 2025 100,000 2.32 100,000 2.32 2027 50,000 2.32 50,000 2.32 2028 100,000 3.03 — — $ 7,300,000 1.24 % $ 7,300,000 1.21 % (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 $250.0 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 on August 21, 2019 and mature on August 21, 2024. 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 has a notional amount of $125.0 million and a one-month LIBOR strike rate of 2.50% , and the second interest rate cap has a notional amount of $150.0 million and a one-month LIBOR strike rate of 4.99% . In the event that the one-month LIBOR rate rises above the applicable strike rate, the Company would receive monthly payments related to the spread difference. Both interest rate cap contracts have a maturity date of July 15, 2020. 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. Interest Rate Swaps – Unsecured Debt Hedges As of March 31, 2018 and December 31, 2017 , the Company had $20.4 million 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, 2018 and December 31, 2017 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. Consolidated Financial Statement Impact Related to Derivatives Balance Sheet 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 March 31, 2018 As of December 31, 2017 As of March 31, 2018 As of December 31, 2017 Interest rate swap option - floor income hedge $ 1,290 543 — — Interest rate caps 601 275 — — Interest rate swaps - hybrid debt hedges — — 5,601 7,063 Total $ 1,891 818 5,601 7,063 Offsetting of Derivative Assets/Liabilities The following tables include the gross amounts related to the Company's derivative portfolio recognized in the consolidated balance sheets, reconciled to the net amount when excluding derivatives subject to enforceable master netting arrangements and cash collateral received/pledged. Gross amounts not offset in the consolidated balance sheets Derivative assets Gross amounts of recognized assets presented in the consolidated balance sheets Derivatives subject to enforceable master netting arrangement Cash collateral received Net asset Balance as of March 31, 2018 $ 1,891 — — 1,891 Balance as of December 31, 2017 818 — — 818 Gross amounts not offset in the consolidated balance sheets Derivative liabilities Gross amounts of recognized liabilities presented in the consolidated balance sheets Derivatives subject to enforceable master netting arrangement Cash collateral pledged Net asset (liability) Balance as of March 31, 2018 $ (5,601 ) — 7,520 1,919 Balance as of December 31, 2017 (7,063 ) — 8,520 1,457 Income Statement Impact The following table summarizes the components of "derivative market value and foreign currency transaction adjustments and derivative settlements, net" included in the consolidated statements of income. Three months ended March 31, 2018 2017 Settlements: 1:3 basis swaps $ (1,664 ) 698 Interest rate swaps - floor income hedges 8,590 (120 ) Interest rate swaps - hybrid debt hedges (160 ) (205 ) Cross-currency interest rate swap — (1,751 ) Total settlements - income (expense) 6,766 (1,378 ) Change in fair value: 1:3 basis swaps 13,297 (2,574 ) Interest rate swaps - floor income hedges 44,201 4,324 Interest rate swap option - floor income hedge 747 (884 ) Interest rate caps 326 (522 ) Interest rate swaps - hybrid debt hedges 1,462 419 Cross-currency interest rate swap — 935 Other — (460 ) Total change in fair value - income (expense) 60,033 1,238 Re-measurement of Euro Notes (foreign currency transaction adjustment) — (4,690 ) Derivative market value and foreign currency transaction adjustments and derivative settlements, net - income (expense) $ 66,799 (4,830 )

Investments and Notes Receivabl

Investments and Notes Receivable	3 Months Ended
	Mar. 31, 2018
Investments [Abstract]
Investments and Notes Receivable	Investments and Notes Receivable A summary of the Company's investments and notes receivable follows: As of March 31, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Investments (at fair value): Student loan asset-backed and other debt securities - available-for-sale (a) $ 78,203 4,558 (634 ) (b) 82,127 Equity securities 13,682 3,554 (151 ) 17,085 Total investments (at fair value) $ 91,885 8,112 (785 ) 99,212 Other Investments and Notes Receivable (not measured at fair value): Venture capital: Measurement alternative (c) 68,409 Equity method 16,175 Other 783 Total venture capital 85,367 Real estate: Equity method 18,850 Other 30,005 Total real estate 48,855 Notes receivable 16,373 Tax liens and affordable housing 8,619 Total investments and notes receivable (not measured at fair value) 159,214 Total investments and notes receivable $ 258,426 As of December 31, 2017 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 $ 71,943 5,056 (25 ) 76,974 Equity securities 1,630 2,298 — 3,928 Total available-for-sale investments $ 73,573 7,354 (25 ) 80,902 Other Investments and Notes Receivable (not measured at fair value): Venture capital and funds 84,752 Real estate 49,464 Notes receivable 16,393 Tax liens and affordable housing 9,027 Total investments and notes receivable $ 240,538 (a) As of March 31, 2018 , 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. (b) As of March 31, 2018 , the aggregate fair value of available-for-sale investments with unrealized losses was $17.8 million , of which none 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, 2018 , 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. (c) The Company accounts for the majority of its equity securities without readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer (the measurement alternative method). For the three months ended March 31, 2018 , the Company recorded no impairments and upward adjustments of $6.9 million on these investments. The upward adjustments were made as a result of observable price changes.

Business Combination

Business Combination	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Business Combination	Business Combination Great Lakes Educational Loan Services, Inc. ("Great Lakes") On February 7, 2018, the Company acquired 100 percent of the outstanding stock of Great Lakes for total cash consideration of $150.0 million . Great Lakes provides servicing for federally-owned student loans for the U.S. Department of Education (the "Department"), FFELP loans, and private education and consumer loans. The acquisition of Great Lakes has expanded the Company's portfolio of loans it services. The operating results of Great Lakes are included in the Loan Servicing and Systems operating segment. As part of the acquisition, the Company acquired the remaining 50 percent ownership in GreatNet Solutions, LLC ("GreatNet"), a joint venture formed prior to the acquisition between Nelnet Servicing, LLC ("Nelnet Servicing"), a subsidiary of the Company, and Great Lakes. Prior to the acquisition of the remaining 50 percent of GreatNet, the Company consolidated the operating results of GreatNet as the Company was deemed to have control over the joint venture. The proportionate share of membership interest (equity) and net loss of GreatNet that was attributable to Great Lakes was reflected as noncontrolling interests in the Company's consolidated financial statements. The Company recognized a $19.1 million reduction to consolidated shareholders' equity as a result of acquiring Great Lakes' 50 percent ownership in GreatNet. This transaction resulted in a $5.7 million decrease in noncontrolling interest and $13.4 million decrease in retained earnings. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. The fair value of the assets and liabilities related to Great Lakes are subject to refinement as the Company completes its analysis relative to the fair values at the date of acquisition. The fair value assigned to the acquisition of the noncontrolling interest in GreatNet reduced the total consideration allocated to the assets acquired and liabilities assumed of Great Lakes from $150.0 million to $136.6 million . Cash and cash equivalents $ 27,399 Accounts receivable 23,708 Property and equipment 36,040 Other assets 14,015 Intangible assets 72,278 Excess cost over fair value of net assets acquired (goodwill) 19,697 Other liabilities (56,586 ) Net assets acquired $ 136,551 The $72.3 million of acquired intangible assets on the date of acquisition had a weighted-average useful life of approximately 4 years. The intangible assets that made up this amount include customer relationships of $67.2 million ( 4 -year useful life) and a trade name of $5.1 million ( 7 -year useful life). The $19.7 million of goodwill was assigned to the Loan Servicing and Systems operating segment and is not expected to be deductible for tax purposes. The amount allocated to goodwill was primarily attributed to the deferred tax liability related to the difference between the carrying amount and tax bases of acquired identifiable intangible assets and the synergies and economies of scale expected from combining the operations of the Company and Great Lakes. The consolidated financial statements as of March 31, 2018, and for the three months then ended, include amounts acquired from, as well as the results of operations of Great Lakes from February 7, 2018 and forward. Results of operations for the three months ended March 31, 2018 include revenues of $43.5 million and net income of $11.9 million attributed to Great Lakes since its acquisition. The following unaudited pro forma information for the Company has been prepared as if the acquisition of Great Lakes had occurred on January 1, 2017. The information is based on the historical results of the separate companies and may not necessarily be indicative of the results that could have been achieved or of results that may occur in the future. The pro forma adjustments include the impact of depreciation and amortization of property and equipment and intangible assets acquired. Three months ended March 31, 2018 2017 Loan servicing and systems revenue $ 120,188 116,149 Net income attributable to Nelnet, Inc. $ 118,029 61,421 Net income per share - basic and diluted $ 2.88 1.45

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2018
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	Intangible Assets Intangible assets consist of the following: Weighted average remaining useful life as of March 31, 2018 (months) As of March 31, 2018 As of December 31, 2017 Amortizable intangible assets, net: Customer relationships (net of accumulated amortization of $16,766 and $12,715, respectively) 77 $ 87,275 24,168 Trade names (net of accumulated amortization of $3,283 and $2,498, respectively) 86 13,409 9,074 Computer software (net of accumulated amortization of $11,381 and $10,013, respectively) 20 6,290 4,958 Covenants not to compete (net of accumulated amortization of $136 and $127, respectively) 74 218 227 Total - amortizable intangible assets, net 75 $ 107,192 38,427 The Company recorded amortization expense on its intangible assets of $6.2 million and $2.4 million during the three months ended March 31, 2018 and 2017 , respectively. The Company will continue to amortize intangible assets over their remaining useful lives. As of March 31, 2018 , the Company estimates it will record amortization expense as follows: 2018 (April 1 - December 31) $ 22,975 2019 27,373 2020 24,175 2021 14,278 2022 3,723 2023 and thereafter 14,668 $ 107,192

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2018
Goodwill [Abstract]
Goodwill	Goodwill The change in the carrying amount of goodwill by reportable operating segment was as follows: Loan Servicing and Systems Education Technology, Services, and Payment Processing Communications Asset Generation and Management Corporate and Other Activities Total Balance as of December 31, 2017 $ 8,596 67,168 21,112 41,883 — 138,759 Goodwill acquired during the period 19,697 — — — — 19,697 Balance as of March 31, 2018 $ 28,293 67,168 21,112 41,883 — 158,456

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consisted of the following: As of As of Useful life March 31, 2018 December 31, 2017 Non-communications: Computer equipment and software 1-5 years $ 128,304 124,708 Building and building improvements 5-39 years 46,576 24,003 Office furniture and equipment 3-7 years 21,474 15,210 Leasehold improvements 5-15 years 9,177 7,759 Transportation equipment 4-10 years 4,371 3,813 Land — 3,328 2,628 Construction in progress — 5,728 4,127 218,958 182,248 Accumulated depreciation - non-communications (103,104 ) (105,017 ) Non-communications, net property and equipment 115,854 77,231 Communications: Network plant and fiber 5-15 years 152,054 138,122 Customer located property 5-10 years 15,565 13,767 Central office 5-15 years 11,286 10,754 Transportation equipment 4-10 years 5,923 5,759 Computer equipment and software 1-5 years 4,598 3,790 Other 1-39 years 2,631 2,516 Land — 70 70 Construction in progress — 12,170 11,620 204,297 186,398 Accumulated depreciation - communications (20,314 ) (15,578 ) Communications, net property and equipment 183,983 170,820 Total property and equipment, net $ 299,837 248,051 The Company recorded depreciation expense on its property and equipment of $12.2 million and $6.2 million during the three months ended March 31, 2018 and 2017 , respectively.

Earnings per Common Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2018
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, 2018 2017 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 112,788 1,137 113,925 49,505 521 50,026 Denominator: Weighted-average common shares outstanding - basic and diluted 40,541,870 408,658 40,950,528 41,851,064 440,793 42,291,857 Earnings per share - basic and diluted $ 2.78 2.78 2.78 1.18 1.18 1.18

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting See note 15 of the notes to consolidated financial statements included in the 2017 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, 2018 Loan Servicing and Systems Education Technology, Services, and Payment Processing Communications Asset Corporate and Other Activities Eliminations Total Total interest income $ 257 665 1 200,334 4,751 (3,150 ) 202,857 Interest expense — — 2,509 134,233 1,958 (3,150 ) 135,550 Net interest income 257 665 (2,508 ) 66,101 2,793 — 67,307 Less provision for loan losses — — — 4,000 — — 4,000 Net interest income (loss) after provision for loan losses 257 665 (2,508 ) 62,101 2,793 — 63,307 Other income: Loan servicing and systems revenue 100,141 — — — — — 100,141 Intersegment servicing revenue 10,771 — — — — (10,771 ) — Education technology, services, and payment processing revenue — 60,221 — — — — 60,221 Communications revenue — — 9,189 — — — 9,189 Other income 1,292 — — 2,992 13,914 — 18,198 Gain from debt repurchases — — — 359 — — 359 Derivative settlements, net — — — 6,926 (160 ) — 6,766 Derivative market value and foreign currency transaction adjustments, net — — — 58,571 1,462 — 60,033 Total other income 112,204 60,221 9,189 68,848 15,216 (10,771 ) 254,907 Cost of services: Cost to provide education technology, services, and payment processing services — 13,683 — — — — 13,683 Cost to provide communications services — — 3,717 — — — 3,717 Total cost of services — 13,683 3,717 — — — 17,400 Operating expenses: Salaries and benefits 58,537 19,067 4,063 382 14,594 — 96,643 Depreciation and amortization 6,069 3,341 4,921 — 4,126 — 18,457 Loan servicing fees — — — 3,136 — — 3,136 Other expenses 14,463 4,624 2,638 848 10,845 — 33,417 Intersegment expenses, net 13,356 2,567 605 10,865 (16,622 ) (10,771 ) — Total operating expenses 92,425 29,599 12,227 15,231 12,943 (10,771 ) 151,653 Income (loss) before income taxes 20,036 17,604 (9,263 ) 115,718 5,066 — 149,161 Income tax (expense) benefit (a) (5,003 ) (4,225 ) 2,223 (27,773 ) (1,199 ) — (35,976 ) Net income (loss) 15,033 13,379 (7,040 ) 87,945 3,867 — 113,185 Net loss (income) attributable to noncontrolling interests 808 — — — (68 ) — 740 Net income (loss) attributable to Nelnet, Inc. $ 15,841 13,379 (7,040 ) 87,945 3,799 — 113,925 Total assets as of March 31, 2018 $ 281,208 193,283 228,750 22,804,734 718,251 (327,824 ) 23,898,402 (a) As a result of the Tax Cuts and Jobs Act, beginning January 1, 2018, income taxes are allocated based on 24% of income before taxes for each individual operating segment. The difference between the consolidated income tax expense and the sum of the taxes calculated for each operating segment, if any, is included in income taxes in Corporate and Other Activities. Three months ended March 31, 2017 Loan Servicing and Systems Education Technology, Services, and Payment Processing Communications Asset Generation and Management Corporate and Other 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 servicing and systems revenue 54,229 — — — — — 54,229 Intersegment servicing revenue 10,323 — — — — (10,323 ) — Education technology, services, and payment processing revenue — 56,024 — — — — 56,024 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 — — — (3,410 ) (42 ) — (3,452 ) Total other income 64,552 56,024 5,106 (701 ) 13,483 (10,323 ) 128,141 Cost of services: Cost to provide education technology, services, and payment processing services — 12,790 — — — — 12,790 Cost to provide communications services — — 1,954 — — — 1,954 Total cost of services — 12,790 1,954 — — — 14,744 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 Other expenses 9,136 4,609 1,372 991 10,054 — 26,161 Intersegment expenses, net 7,398 2,075 506 10,412 (10,068 ) (10,323 ) — Total operating expenses 55,075 25,727 6,992 17,828 17,348 (10,323 ) 112,647 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 Total assets as of March 31, 2017 $ 87,115 194,809 118,842 25,325,220 682,639 (267,405 ) 26,141,220

Major Customer

Major Customer	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Major Customer	Major Customer Nelnet Servicing earns loan servicing revenue from a servicing contract with the Department that is currently set to expire on June 16, 2019. Revenue earned by Nelnet Servicing related to this contract was $39.3 million and $39.0 million for the three months ended March 31, 2018 and 2017 , respectively. In addition, Great Lakes, which was acquired by the Company on February 7, 2018, also earns loan servicing revenue from a similar servicing contract with the Department that is currently set to expire on June 16, 2019. Revenue earned by Great Lakes related to this contract was $30.8 million for the period from February 7, 2018 to March 31, 2018. On February 20, 2018, the Department's Office of Federal Student Aid released information regarding a new contract procurement process for the servicing of student loans owned by the Department. The contract solicitation process is divided into two phases. The contract solicitation requests responses from interested vendors for nine components. Vendors may provide a response for an individual, multiple, or all components. Nelnet Servicing and Great Lakes submitted a joint response to Phase One of the procurement on April 17, 2018.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2018
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, 2018 . As of March 31, 2018 Level 1 Level 2 Total Assets: Investments: Student loan and other asset-backed securities - available-for-sale $ — 82,020 82,020 Equity securities 4,719 — 4,719 Equity securities measured at net asset value (a) — — 12,366 Debt securities 107 — 107 Total investments 4,826 82,020 99,212 Derivative instruments — 1,891 1,891 Total assets $ 4,826 83,911 101,103 Liabilities: Derivative instruments $ — 5,601 5,601 Total liabilities $ — 5,601 5,601 As of December 31, 2017 Level 1 Level 2 Total Assets: Investments (available-for-sale): Student loan and other asset-backed securities $ — 76,866 76,866 Equity securities 3,928 — 3,928 Debt securities 108 — 108 Total investments (available-for-sale) 4,036 76,866 80,902 Derivative instruments — 818 818 Total assets $ 4,036 77,684 81,720 Liabilities: Derivative instruments $ — 7,063 7,063 Total liabilities $ — 7,063 7,063 (a) In accordance with the Fair Value Measurements Topic of the FASB Accounting Standards Codification, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets: As of March 31, 2018 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 22,884,620 21,562,030 — — 22,884,620 Cash and cash equivalents 69,286 69,286 69,286 — — Investments (at fair value) 99,212 99,212 4,826 82,020 — Notes receivable 16,373 16,373 — 16,373 — Restricted cash 727,471 727,471 727,471 — — Restricted cash – due to customers 128,515 128,515 128,515 — — Accrued interest receivable 489,395 489,395 — 489,395 — Derivative instruments 1,891 1,891 — 1,891 — Financial liabilities: Bonds and notes payable 21,475,380 21,227,349 — 21,475,380 — Accrued interest payable 54,252 54,252 — 54,252 — Due to customers 128,515 128,515 128,515 — — Derivative instruments 5,601 5,601 — 5,601 — As of December 31, 2017 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 23,106,440 21,814,507 — — 23,106,440 Cash and cash equivalents 66,752 66,752 66,752 — — Investments (available-for-sale) 80,902 80,902 4,036 76,866 — Notes receivable 16,393 16,393 — 16,393 — Restricted cash 688,193 688,193 688,193 — — Restricted cash – due to customers 187,121 187,121 187,121 — — Accrued interest receivable 430,385 430,385 — 430,385 — Derivative instruments 818 818 — 818 — Financial liabilities: Bonds and notes payable 21,521,463 21,356,573 — 21,521,463 — Accrued interest payable 50,039 50,039 — 50,039 — Due to customers 187,121 187,121 187,121 — — Derivative instruments 7,063 7,063 — 7,063 — The methodologies for estimating the fair value of financial assets and liabilities are described in note 21 of the notes to consolidated financial statements included in the 2017 Annual Report.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Event	Subsequent Events On April 25, 2018, the Company acquired $1.5 billion of unsecuritized federally insured student loans from a third-party. The Company will earn interest income on these loans from the effective date of the transaction, April 1, 2018. In addition, from April 1, 2018 through May 8, 2018 (the filing date of this report), the Company acquired $351.3 million of additional unsecuritized federally insured student loans from third-parties. These loan acquisitions were funded with existing FFELP warehouse facilities, operating cash, and the Company’s unsecured line of credit. Subsequent to March 31, 2018, in anticipation of these loan acquisitions, the Company increased the capacity on both of its FFELP warehouse facilities to a total of $2.3 billion .

Basis of Financial Reporting -

Basis of Financial Reporting - Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
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, 2018 and for the three months ended March 31, 2018 and 2017 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2017 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, 2018 are not necessarily indicative of the results for the year ending December 31, 2018 . 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, 2017 (the " 2017 Annual Report").
Accounting Standards Adopted in 2018	Accounting Standards Adopted in 2018 In the first quarter of 2018, the Company adopted the following new accounting guidance: Revenue Recognition In May 2014, the Financial Accounting Standards Board ("FASB") issued a new standard related to revenue recognition. Under the standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted the standard effective January 1, 2018, using the full retrospective method, which required it to restate each prior reporting period presented. As a result, the Company has changed its accounting policy for revenue recognition as detailed in note 2, “Summary of Significant Accounting Policies and Practices.” The most significant impact of the standard relates to identifying the Company's Education Technology, Services, and Payment Processing operating segment as the principal in its payment services transactions. As a result of this change, the Company will present the payment services revenue gross with the direct costs to provide these services presented separately. The majority of the Company's revenue earned in its Asset Generation and Management operating segment, including loan interest and derivative activity, is explicitly excluded from the scope of the new guidance. Other than the payment services transactions discussed above, the Company’s other fee-based operating segments will recognize revenue consistent with historical revenue recognition patterns. Equity Investments In January 2016, the FASB issued new accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The guidance requires equity investments with readily determinable fair values to be measured at fair value, with changes in the fair value recognized through net income (other than those equity investments accounted for under the equity method of accounting or those that result in consolidation of the investee). An entity may choose to measure equity investments without readily determinable fair values at fair value or use the measurement alternative of cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. In addition, the impairment assessment is simplified by requiring a qualitative assessment to identify impairment. The guidance requires a cumulative-effect adjustment to retained earnings as of the beginning of the reporting period of adoption to reclassify the cumulative change in fair value of equity securities with readily determinable fair values previously recognized in accumulated other comprehensive income; and along with a related clarifying update, was adopted by the Company as of January 1, 2018. Upon adoption, the Company recorded an immaterial cumulative-effect adjustment to retained earnings, accumulated other comprehensive earnings, and investments and notes receivable. Subsequent to the adoption, the Company is accounting for the majority of its equity investments without readily determinable fair values using the measurement alternative. Other Comprehensive Income In February 2018, the FASB issued guidance which allows a reclassification from accumulated other comprehensive earnings to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act, which became effective on January 1, 2018. This guidance is effective for fiscal years beginning after December 15, 2018, but early adoption is permitted in periods for which financial statements have not yet been issued. The Company elected to early adopt this guidance as of January 1, 2018. Upon adoption, the Company recorded an immaterial reclassification between accumulated other comprehensive earnings and retained earnings. Restricted Cash In November 2016, the FASB issued accounting guidance related to restricted cash. The new standard requires that the statement of cash flows present the change during the period in the total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents, and a reconciliation of such total to amounts on the balance sheet. The Company adopted the standard effective January 1, 2018 using the retrospective transition method.
Revenue Recognition	Communications revenue - Communications revenue is derived principally from internet, television, and telephone services and is billed as a flat fee in advance of providing the service. Revenues for usage-based services, such as access charges billed to other telephone carriers for originating and terminating long-distance calls on the Company's network, are billed in arrears. These are each considered distinct performance obligations. Revenue is recognized monthly for the consideration the Company has a right to invoice. The amount the Company has a right to invoice is an amount that corresponds directly with the value provided to the customer based on the performance completed. The Company recognizes revenue from these services in the period the services are rendered rather than billed. The Company records deferred revenue when revenue is recognized subsequent to invoicing. Earned but unbilled usage-based services are recorded in accounts receivable. Education technology, services, and payment processing revenue - Education technology, services, and payment processing revenue consists of the following items: • Tuition payment plan services - Tuition payment plan services consideration is determined from individual plan agreements, which are governed by plan service agreements, and includes access to a remote hosted environment and management of payment processing. The management of payment processing is considered a distinct performance obligation when sold with the remote hosted environment. Revenue for each performance obligation is allocated to the distinct service period, the academic school term, and recognized ratably over the service period as customers simultaneously consume and receive benefits. • Education technology and services - Education technology and services consideration is determined from individual contracts with customers and is determined based on the services selected by the customer. Services in K-12 private and faith based schools include (i) assistance with financial needs assessment, (ii) automating administrative processes such as admissions, online applications and enrollment services, scheduling, student billing, attendance, and grade book management, and (iii) professional development and educational instruction services. Revenue for these services is recognized for the consideration the Company has a right to invoice. The amount the Company has a right to invoice is an amount that corresponds directly with the value provided to the customer based on the performance completed. Services also include innovative education-focused technologies, services, and support solutions to help schools with the everyday challenges of collecting and processing commerce data. These services are considered distinct performance obligations. Revenue for each performance obligation is allocated to the distinct service period, typically a month or based on when each transaction is completed, and recognized as control transfers as customers simultaneously consume and receive benefits. • Payment processing - Payment processing consideration is determined from individual contracts with customers and includes electronic transfer and credit card processing, reporting, virtual terminal solutions, and specialized integrations to business software for education and non-education markets. Volume-based revenue from payment processing is allocated and recognized to the distinct service period, based on when each transaction is completed, and recognized as control transfers as customers simultaneously consume and receive benefits. Revenue Recognition The Company applies the provisions of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"), to its fee-based operating segments. The majority of the Company’s revenue earned in its Asset Generation and Management operating segment, including loan interest and derivative activity, is explicitly excluded from the scope of ASC Topic 606. The Company recognizes revenue under the core principle of ASC Topic 606 to depict the transfer of control of products and services to the Company’s customers in an amount reflecting the consideration to which the Company expects to be entitled. In order to achieve that core principle, the Company applies the following five step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when a performance obligation is satisfied. Additional information related to the Company's revenue recognition of specific items is further provided below. The Company’s contracts with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Loan servicing and systems revenue - Loan servicing and systems revenue consists of the following items: • Loan servicing revenue - Loan servicing revenue consideration is determined from individual contracts with customers and is calculated monthly based on the dollar value of loans, number of loans, or number of borrowers serviced for each customer. Loan servicing requires a significant level of integration and the individual components are not considered distinct. The Company will perform various services during each distinct service period. Even though the mix and quantity of activities that the Company performs each period may differ, the nature of the promise is substantially the same. Revenue is allocated to the distinct service period, typically a month, and recognized as control transfers as customers simultaneously consume and receive benefits. • Software services revenue - Software services revenue consideration is determined from individual contracts with customers and includes license and maintenance fees associated with loan software products, generally in a remote hosted environment, and computer and software consulting. Usage-based revenue from remote hosted licenses is allocated to and recognized in the distinct service period, typically a month, and recognized as control transfers, and non-refundable up-front revenue is recognized ratably over the contract period as customers simultaneously consume and receive benefits. Loan conversion activities in certain customer contracts are capable of being distinct and accounted for as a separate performance obligation. Revenue allocated to loan conversion activities is recognized at the point in time when the conversion is complete. Computer and software consulting is also capable of being distinct and accounted for as a separate performance obligation. Revenue allocated to computer and software consulting is recognized as services are provided. • Outsourced services revenue - Outsourced services revenue consideration is determined from individual contracts with customers and is calculated monthly based on the volume of services. Revenue is allocated to the distinct service period, typically a month, and recognized as control transfers as customers simultaneously consume and receive benefits.

Basis of Financial Reporting 26

Basis of Financial Reporting - Basis of Financial Reporting (Tables)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Impact on Previous Reporting	Adoption of the revenue recognition standard impacted the Company’s previously reported results on the consolidated statements of income as follows: Three months ended March 31, 2017 As previously reported Impact of adoption As restated Education technology, services, and payment processing revenue $ 43,620 12,404 56,024 Cost to provide education technology, services, and payment processing services — 12,404 12,404 (a) (a) In addition to the impact of adopting the new revenue recognition standard, as discussed above, the Company reclassed other direct costs to provide education technology, services, and payment processing revenue which were previously reported as part of "other expenses" to "cost to provide education technology, services, and payment processing services." The Company adopted the standard effective January 1, 2018 using the retrospective transition method. Adoption of this standard impacted the Company's previously reported results on the consolidated statements of cash flows as follows: Three months ended March 31, 2017 As previously reported Impact of adoption As restated Decrease in due to customers $ — (26,003 ) (26,003 ) Net cash provided by operating activities 73,833 (26,003 ) 47,830 Decrease in restricted cash 193,326 (193,326 ) — Net cash provided by investing activities 1,051,415 (193,326 ) 858,089

Summary of Significant Accoun27

Summary of Significant Accounting Policies and Practices (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Disaggregation of Revenue	The following table provides disaggregated revenue by service offering and customer type: Three months ended March 31, 2018 2017 Internet $ 4,696 2,202 Television 2,783 1,623 Telephone 1,689 1,262 Other 21 19 Communications revenue $ 9,189 5,106 Residential revenue $ 6,747 3,351 Business revenue 2,381 1,696 Other revenue 61 59 Communications revenue $ 9,189 5,106 The following table provides disaggregated revenue by service offering: Three months ended March 31, 2018 2017 Tuition payment plan services $ 23,043 21,787 Payment processing 19,926 18,945 Education technology and services 16,975 15,147 Other 277 145 Education technology, services, and payment processing revenue $ 60,221 56,024 The following table provides disaggregated revenue by service offering: Three months ended March 31, 2018 2017 Government servicing - Nelnet $ 39,327 39,007 Government servicing - Great Lakes (a) 30,754 — Private education and consumer loan servicing 13,101 5,817 FFELP servicing 7,691 4,077 Software services 7,589 4,337 Outsourced services revenue and other 1,679 991 Loan servicing and systems revenue $ 100,141 54,229 (a) Great Lakes Educational Loan Services, Inc. ("Great Lakes") was acquired by the Company on February 7, 2018. For additional information about the acquisition, see note 7.
Schedule Of Other Income, By Component	The following table provides the components of "other income" on the consolidated statements of income: Three months ended March 31, 2018 2017 Realized and unrealized gains on investments, net $ 9,081 324 Borrower late fee income 2,983 3,319 Investment advisory fees 1,593 3,516 Management fee revenue 1,161 — Peterson's revenue — 2,836 Other 3,380 2,637 Other income $ 18,198 12,632
Schedule of Liabilities from Contracts with Customers	The following table provides information about contract liabilities from contracts with customers: As of March 31, 2018 As of December 31, 2017 Deferred revenue, which is included in "other liabilities" on the consolidated balance sheets $ 22,715 32,276 Activity in the deferred revenue balance is shown below: Three months ended March 31, 2018 2017 Balance, beginning of period $ 32,276 33,141 Deferral of revenue 17,050 15,918 Recognition of unearned revenue (26,802 ) (24,878 ) Other 191 87 Balance, end of period $ 22,715 24,268

Loans Receivable and Allowanc28

Loans Receivable and Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Loans receivable consisted of the following: As of As of March 31, 2018 December 31, 2017 Federally insured student loans: Stafford and other $ 4,363,159 4,418,881 Consolidation 17,098,389 17,302,725 Total 21,461,548 21,721,606 Private education loans 194,310 212,160 Consumer loans 77,855 62,111 21,733,713 21,995,877 Loan discount, net of unamortized loan premiums and deferred origination costs (103,542 ) (113,695 ) Non-accretable discount (12,847 ) (13,085 ) Allowance for loan losses: Federally insured loans (38,374 ) (38,706 ) Private education loans (12,255 ) (12,629 ) Consumer loans (4,665 ) (3,255 ) $ 21,562,030 21,814,507
Allowance for Credit Losses on Financing Receivables	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 loans. Activity in the allowance for loan losses is shown below. Three months ended March 31, 2018 Balance at beginning of period Provision for loan losses Charge-offs Recoveries Other Balance at end of period Federally insured loans $ 38,706 2,000 (3,332 ) — 1,000 38,374 Private education loans 12,629 — (539 ) 165 — 12,255 Consumer loans 3,255 2,000 (595 ) 5 — 4,665 $ 54,590 4,000 (4,466 ) 170 1,000 55,294 Three months ended March 31, 2017 Federally insured loans $ 37,268 2,000 (2,581 ) — — 36,687 Private education loans 14,574 (1,000 ) (82 ) 197 150 13,839 Consumer loans — — — — — — $ 51,842 1,000 (2,663 ) 197 150 50,526
Financing Receivable Credit Quality Indicators	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 for federally insured and private education loans. As of March 31, 2018 As of December 31, 2017 As of March 31, 2017 Federally insured loans: Loans in-school/grace/deferment $ 1,312,319 $ 1,260,394 $ 1,604,494 Loans in forbearance 1,650,913 1,774,405 2,125,344 Loans in repayment status: Loans current 16,368,668 88.5 % 16,477,004 88.2 % 17,690,083 87.5 % Loans delinquent 31-60 days 669,490 3.6 682,586 3.7 732,433 3.6 Loans delinquent 61-90 days 426,696 2.3 374,534 2.0 493,876 2.4 Loans delinquent 91-120 days 252,659 1.4 287,922 1.5 275,711 1.4 Loans delinquent 121-270 days 570,538 3.1 629,480 3.4 763,030 3.8 Loans delinquent 271 days or greater 210,265 1.1 235,281 1.2 255,122 1.3 Total loans in repayment 18,498,316 100.0 % 18,686,807 100.0 % 20,210,255 100.0 % Total federally insured loans $ 21,461,548 $ 21,721,606 $ 23,940,093 Private education loans: Loans in-school/grace/deferment $ 5,532 $ 6,053 $ 34,138 Loans in forbearance 2,574 2,237 3,811 Loans in repayment status: Loans current 178,976 96.1 % 196,720 96.5 % 213,081 97.4 % Loans delinquent 31-60 days 1,630 0.9 1,867 0.9 1,355 0.6 Loans delinquent 61-90 days 1,110 0.6 1,052 0.5 1,402 0.6 Loans delinquent 91 days or greater 4,488 2.4 4,231 2.1 3,029 1.4 Total loans in repayment 186,204 100.0 % 203,870 100.0 % 218,867 100.0 % Total private education loans $ 194,310 $ 212,160 $ 256,816

Bonds and Notes payable (Tables

Bonds and Notes payable (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The following tables summarize the Company’s outstanding debt obligations by type of instrument: As of March 31, 2018 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 $ 20,132,994 1.85% - 3.99% 4/25/24 - 5/25/66 Bonds and notes based on auction 766,948 2.20% - 2.88% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 20,899,942 FFELP warehouse facilities 339,063 1.94% / 2.00% 11/19/19 / 5/31/20 Variable-rate bonds and notes issued in private education loan asset-backed securitization 66,765 3.62% 12/26/40 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 76,193 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit 150,000 3.20% 12/12/21 Unsecured debt - Junior Subordinated Hybrid Securities 20,381 5.68% 9/15/61 Other borrowings 29,450 3.16% - 3.66% 3/31/23 - 12/15/45 21,581,794 Discount on bonds and notes payable and debt issuance costs (354,445 ) Total $ 21,227,349 As of December 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 $ 20,352,045 1.47% - 3.37% 8/25/21 - 2/25/66 Bonds and notes based on auction 780,829 2.09% - 2.69% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 21,132,874 FFELP warehouse facilities 335,992 1.55% / 1.56% 11/19/19 / 5/31/20 Variable-rate bonds and notes issued in private education loan asset-backed securitization 74,717 3.30% 12/26/40 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 82,647 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit 10,000 2.98% 12/12/21 Unsecured debt - Junior Subordinated Hybrid Securities 20,381 5.07% 9/15/61 Other borrowings 70,516 2.44% - 3.38% 1/12/18 - 12/15/45 21,727,127 Discount on bonds and notes payable and debt issuance costs (370,554 ) Total $ 21,356,573
Schedule of Line of Credit Facilities	As of March 31, 2018 , the Company had two FFELP warehouse facilities as summarized below. NFSLW-I NHELP-II Total Maximum financing amount $ 500,000 500,000 1,000,000 Amount outstanding 49,623 289,440 339,063 Amount available $ 450,377 210,560 660,937 Expiration of liquidity provisions September 20, 2019 May 31, 2018 Final maturity date November 19, 2019 May 31, 2020 Maximum advance rates 92.0 - 98.0% 85.0 - 95.0% Minimum advance rates 84.0 - 90.0% 85.0 - 95.0% Advanced as equity support $ 2,402 25,269 27,671
Schedule of Asset-Backed Securitization	Asset-Backed Securitizations The following table summarizes the asset-backed securitization transactions completed during the first three months of 2018 . NSLT 2018-1 Total Class A-1 Notes Class A-2 Notes Date securities issued 3/29/18 3/29/18 Total principal amount $ 98,000 375,750 473,750 Cost of funds 1-month LIBOR plus 0.32% 1-month LIBOR plus 0.76% Final maturity date 5/25/66 5/25/66

Derivative Financial Instrume30

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Basis Swap	The following table summarizes the Company’s outstanding basis swaps 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, 2018 2017 Maturity Notional amount Notional amount 2018 $ 1,750,000 4,250,000 2019 3,500,000 3,500,000 2022 1,000,000 1,000,000 2023 750,000 — 2024 250,000 250,000 2026 1,150,000 1,150,000 2027 375,000 375,000 2028 325,000 325,000 2029 100,000 100,000 2031 300,000 300,000 $ 9,500,000 11,250,000
Schedule of Interest Rate Swaps, Floor Income Hedge	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, 2018 As of December 31, 2017 Maturity Notional amount Weighted average fixed rate paid by the Company (a) Notional amount Weighted average fixed rate paid by the Company (a) 2018 $ 1,250,000 1.08 % $ 1,350,000 1.07 % 2019 3,250,000 0.97 3,250,000 0.97 2020 1,500,000 1.01 1,500,000 1.01 2023 750,000 2.28 750,000 2.28 2024 300,000 2.28 300,000 2.28 2025 100,000 2.32 100,000 2.32 2027 50,000 2.32 50,000 2.32 2028 100,000 3.03 — — $ 7,300,000 1.24 % $ 7,300,000 1.21 % (a) For all interest rate derivatives, the Company receives discrete three-month LIBOR.
Schedule of Interest Rate Swaps, Unsecured Debt Hedges	The Company had the following derivatives outstanding as of March 31, 2018 and December 31, 2017 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.
Schedule of Derivatives as Reflected on Balance Sheet	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 March 31, 2018 As of December 31, 2017 As of March 31, 2018 As of December 31, 2017 Interest rate swap option - floor income hedge $ 1,290 543 — — Interest rate caps 601 275 — — Interest rate swaps - hybrid debt hedges — — 5,601 7,063 Total $ 1,891 818 5,601 7,063
Schedule of Offsetting of Derivative Assets/Liabilities	The following tables include the gross amounts related to the Company's derivative portfolio recognized in the consolidated balance sheets, reconciled to the net amount when excluding derivatives subject to enforceable master netting arrangements and cash collateral received/pledged. Gross amounts not offset in the consolidated balance sheets Derivative assets Gross amounts of recognized assets presented in the consolidated balance sheets Derivatives subject to enforceable master netting arrangement Cash collateral received Net asset Balance as of March 31, 2018 $ 1,891 — — 1,891 Balance as of December 31, 2017 818 — — 818 Gross amounts not offset in the consolidated balance sheets Derivative liabilities Gross amounts of recognized liabilities presented in the consolidated balance sheets Derivatives subject to enforceable master netting arrangement Cash collateral pledged Net asset (liability) Balance as of March 31, 2018 $ (5,601 ) — 7,520 1,919 Balance as of December 31, 2017 (7,063 ) — 8,520 1,457
Schedule of Income Statement Impact	The following table summarizes the components of "derivative market value and foreign currency transaction adjustments and derivative settlements, net" included in the consolidated statements of income. Three months ended March 31, 2018 2017 Settlements: 1:3 basis swaps $ (1,664 ) 698 Interest rate swaps - floor income hedges 8,590 (120 ) Interest rate swaps - hybrid debt hedges (160 ) (205 ) Cross-currency interest rate swap — (1,751 ) Total settlements - income (expense) 6,766 (1,378 ) Change in fair value: 1:3 basis swaps 13,297 (2,574 ) Interest rate swaps - floor income hedges 44,201 4,324 Interest rate swap option - floor income hedge 747 (884 ) Interest rate caps 326 (522 ) Interest rate swaps - hybrid debt hedges 1,462 419 Cross-currency interest rate swap — 935 Other — (460 ) Total change in fair value - income (expense) 60,033 1,238 Re-measurement of Euro Notes (foreign currency transaction adjustment) — (4,690 ) Derivative market value and foreign currency transaction adjustments and derivative settlements, net - income (expense) $ 66,799 (4,830 )

Investments and Notes Receiva31

Investments and Notes Receivable (Tables)	3 Months Ended
	Mar. 31, 2018
Investments [Abstract]
Summary Investment Holdings	A summary of the Company's investments and notes receivable follows: As of March 31, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Investments (at fair value): Student loan asset-backed and other debt securities - available-for-sale (a) $ 78,203 4,558 (634 ) (b) 82,127 Equity securities 13,682 3,554 (151 ) 17,085 Total investments (at fair value) $ 91,885 8,112 (785 ) 99,212 Other Investments and Notes Receivable (not measured at fair value): Venture capital: Measurement alternative (c) 68,409 Equity method 16,175 Other 783 Total venture capital 85,367 Real estate: Equity method 18,850 Other 30,005 Total real estate 48,855 Notes receivable 16,373 Tax liens and affordable housing 8,619 Total investments and notes receivable (not measured at fair value) 159,214 Total investments and notes receivable $ 258,426 As of December 31, 2017 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 $ 71,943 5,056 (25 ) 76,974 Equity securities 1,630 2,298 — 3,928 Total available-for-sale investments $ 73,573 7,354 (25 ) 80,902 Other Investments and Notes Receivable (not measured at fair value): Venture capital and funds 84,752 Real estate 49,464 Notes receivable 16,393 Tax liens and affordable housing 9,027 Total investments and notes receivable $ 240,538 (a) As of March 31, 2018 , 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. (b) As of March 31, 2018 , the aggregate fair value of available-for-sale investments with unrealized losses was $17.8 million , of which none 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, 2018 , 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. (c) The Company accounts for the majority of its equity securities without readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer (the measurement alternative method). For the three months ended March 31, 2018 , the Company recorded no impairments and upward adjustments of $6.9 million on these investments. The upward adjustments were made as a result of observable price changes.

Business Combination (Tables)

Business Combination (Tables)	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	Cash and cash equivalents $ 27,399 Accounts receivable 23,708 Property and equipment 36,040 Other assets 14,015 Intangible assets 72,278 Excess cost over fair value of net assets acquired (goodwill) 19,697 Other liabilities (56,586 ) Net assets acquired $ 136,551
Schedule of Pro Forma Information	The following unaudited pro forma information for the Company has been prepared as if the acquisition of Great Lakes had occurred on January 1, 2017. The information is based on the historical results of the separate companies and may not necessarily be indicative of the results that could have been achieved or of results that may occur in the future. The pro forma adjustments include the impact of depreciation and amortization of property and equipment and intangible assets acquired. Three months ended March 31, 2018 2017 Loan servicing and systems revenue $ 120,188 116,149 Net income attributable to Nelnet, Inc. $ 118,029 61,421 Net income per share - basic and diluted $ 2.88 1.45

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Intangible Assets	Intangible assets consist of the following: Weighted average remaining useful life as of March 31, 2018 (months) As of March 31, 2018 As of December 31, 2017 Amortizable intangible assets, net: Customer relationships (net of accumulated amortization of $16,766 and $12,715, respectively) 77 $ 87,275 24,168 Trade names (net of accumulated amortization of $3,283 and $2,498, respectively) 86 13,409 9,074 Computer software (net of accumulated amortization of $11,381 and $10,013, respectively) 20 6,290 4,958 Covenants not to compete (net of accumulated amortization of $136 and $127, respectively) 74 218 227 Total - amortizable intangible assets, net 75 $ 107,192 38,427
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of March 31, 2018 , the Company estimates it will record amortization expense as follows: 2018 (April 1 - December 31) $ 22,975 2019 27,373 2020 24,175 2021 14,278 2022 3,723 2023 and thereafter 14,668 $ 107,192

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill [Abstract]
Schedule of Goodwill	The change in the carrying amount of goodwill by reportable operating segment was as follows: Loan Servicing and Systems Education Technology, Services, and Payment Processing Communications Asset Generation and Management Corporate and Other Activities Total Balance as of December 31, 2017 $ 8,596 67,168 21,112 41,883 — 138,759 Goodwill acquired during the period 19,697 — — — — 19,697 Balance as of March 31, 2018 $ 28,293 67,168 21,112 41,883 — 158,456

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment consisted of the following: As of As of Useful life March 31, 2018 December 31, 2017 Non-communications: Computer equipment and software 1-5 years $ 128,304 124,708 Building and building improvements 5-39 years 46,576 24,003 Office furniture and equipment 3-7 years 21,474 15,210 Leasehold improvements 5-15 years 9,177 7,759 Transportation equipment 4-10 years 4,371 3,813 Land — 3,328 2,628 Construction in progress — 5,728 4,127 218,958 182,248 Accumulated depreciation - non-communications (103,104 ) (105,017 ) Non-communications, net property and equipment 115,854 77,231 Communications: Network plant and fiber 5-15 years 152,054 138,122 Customer located property 5-10 years 15,565 13,767 Central office 5-15 years 11,286 10,754 Transportation equipment 4-10 years 5,923 5,759 Computer equipment and software 1-5 years 4,598 3,790 Other 1-39 years 2,631 2,516 Land — 70 70 Construction in progress — 12,170 11,620 204,297 186,398 Accumulated depreciation - communications (20,314 ) (15,578 ) Communications, net property and equipment 183,983 170,820 Total property and equipment, net $ 299,837 248,051

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	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, 2018 2017 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 112,788 1,137 113,925 49,505 521 50,026 Denominator: Weighted-average common shares outstanding - basic and diluted 40,541,870 408,658 40,950,528 41,851,064 440,793 42,291,857 Earnings per share - basic and diluted $ 2.78 2.78 2.78 1.18 1.18 1.18

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	See note 15 of the notes to consolidated financial statements included in the 2017 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, 2018 Loan Servicing and Systems Education Technology, Services, and Payment Processing Communications Asset Corporate and Other Activities Eliminations Total Total interest income $ 257 665 1 200,334 4,751 (3,150 ) 202,857 Interest expense — — 2,509 134,233 1,958 (3,150 ) 135,550 Net interest income 257 665 (2,508 ) 66,101 2,793 — 67,307 Less provision for loan losses — — — 4,000 — — 4,000 Net interest income (loss) after provision for loan losses 257 665 (2,508 ) 62,101 2,793 — 63,307 Other income: Loan servicing and systems revenue 100,141 — — — — — 100,141 Intersegment servicing revenue 10,771 — — — — (10,771 ) — Education technology, services, and payment processing revenue — 60,221 — — — — 60,221 Communications revenue — — 9,189 — — — 9,189 Other income 1,292 — — 2,992 13,914 — 18,198 Gain from debt repurchases — — — 359 — — 359 Derivative settlements, net — — — 6,926 (160 ) — 6,766 Derivative market value and foreign currency transaction adjustments, net — — — 58,571 1,462 — 60,033 Total other income 112,204 60,221 9,189 68,848 15,216 (10,771 ) 254,907 Cost of services: Cost to provide education technology, services, and payment processing services — 13,683 — — — — 13,683 Cost to provide communications services — — 3,717 — — — 3,717 Total cost of services — 13,683 3,717 — — — 17,400 Operating expenses: Salaries and benefits 58,537 19,067 4,063 382 14,594 — 96,643 Depreciation and amortization 6,069 3,341 4,921 — 4,126 — 18,457 Loan servicing fees — — — 3,136 — — 3,136 Other expenses 14,463 4,624 2,638 848 10,845 — 33,417 Intersegment expenses, net 13,356 2,567 605 10,865 (16,622 ) (10,771 ) — Total operating expenses 92,425 29,599 12,227 15,231 12,943 (10,771 ) 151,653 Income (loss) before income taxes 20,036 17,604 (9,263 ) 115,718 5,066 — 149,161 Income tax (expense) benefit (a) (5,003 ) (4,225 ) 2,223 (27,773 ) (1,199 ) — (35,976 ) Net income (loss) 15,033 13,379 (7,040 ) 87,945 3,867 — 113,185 Net loss (income) attributable to noncontrolling interests 808 — — — (68 ) — 740 Net income (loss) attributable to Nelnet, Inc. $ 15,841 13,379 (7,040 ) 87,945 3,799 — 113,925 Total assets as of March 31, 2018 $ 281,208 193,283 228,750 22,804,734 718,251 (327,824 ) 23,898,402 (a) As a result of the Tax Cuts and Jobs Act, beginning January 1, 2018, income taxes are allocated based on 24% of income before taxes for each individual operating segment. The difference between the consolidated income tax expense and the sum of the taxes calculated for each operating segment, if any, is included in income taxes in Corporate and Other Activities. Three months ended March 31, 2017 Loan Servicing and Systems Education Technology, Services, and Payment Processing Communications Asset Generation and Management Corporate and Other 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 servicing and systems revenue 54,229 — — — — — 54,229 Intersegment servicing revenue 10,323 — — — — (10,323 ) — Education technology, services, and payment processing revenue — 56,024 — — — — 56,024 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 — — — (3,410 ) (42 ) — (3,452 ) Total other income 64,552 56,024 5,106 (701 ) 13,483 (10,323 ) 128,141 Cost of services: Cost to provide education technology, services, and payment processing services — 12,790 — — — — 12,790 Cost to provide communications services — — 1,954 — — — 1,954 Total cost of services — 12,790 1,954 — — — 14,744 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 Other expenses 9,136 4,609 1,372 991 10,054 — 26,161 Intersegment expenses, net 7,398 2,075 506 10,412 (10,068 ) (10,323 ) — Total operating expenses 55,075 25,727 6,992 17,828 17,348 (10,323 ) 112,647 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 Total assets as of March 31, 2017 $ 87,115 194,809 118,842 25,325,220 682,639 (267,405 ) 26,141,220

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 . As of March 31, 2018 Level 1 Level 2 Total Assets: Investments: Student loan and other asset-backed securities - available-for-sale $ — 82,020 82,020 Equity securities 4,719 — 4,719 Equity securities measured at net asset value (a) — — 12,366 Debt securities 107 — 107 Total investments 4,826 82,020 99,212 Derivative instruments — 1,891 1,891 Total assets $ 4,826 83,911 101,103 Liabilities: Derivative instruments $ — 5,601 5,601 Total liabilities $ — 5,601 5,601 As of December 31, 2017 Level 1 Level 2 Total Assets: Investments (available-for-sale): Student loan and other asset-backed securities $ — 76,866 76,866 Equity securities 3,928 — 3,928 Debt securities 108 — 108 Total investments (available-for-sale) 4,036 76,866 80,902 Derivative instruments — 818 818 Total assets $ 4,036 77,684 81,720 Liabilities: Derivative instruments $ — 7,063 7,063 Total liabilities $ — 7,063 7,063 (a) In accordance with the Fair Value Measurements Topic of the FASB Accounting Standards Codification, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
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, 2018 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 22,884,620 21,562,030 — — 22,884,620 Cash and cash equivalents 69,286 69,286 69,286 — — Investments (at fair value) 99,212 99,212 4,826 82,020 — Notes receivable 16,373 16,373 — 16,373 — Restricted cash 727,471 727,471 727,471 — — Restricted cash – due to customers 128,515 128,515 128,515 — — Accrued interest receivable 489,395 489,395 — 489,395 — Derivative instruments 1,891 1,891 — 1,891 — Financial liabilities: Bonds and notes payable 21,475,380 21,227,349 — 21,475,380 — Accrued interest payable 54,252 54,252 — 54,252 — Due to customers 128,515 128,515 128,515 — — Derivative instruments 5,601 5,601 — 5,601 — As of December 31, 2017 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 23,106,440 21,814,507 — — 23,106,440 Cash and cash equivalents 66,752 66,752 66,752 — — Investments (available-for-sale) 80,902 80,902 4,036 76,866 — Notes receivable 16,393 16,393 — 16,393 — Restricted cash 688,193 688,193 688,193 — — Restricted cash – due to customers 187,121 187,121 187,121 — — Accrued interest receivable 430,385 430,385 — 430,385 — Derivative instruments 818 818 — 818 — Financial liabilities: Bonds and notes payable 21,521,463 21,356,573 — 21,521,463 — Accrued interest payable 50,039 50,039 — 50,039 — Due to customers 187,121 187,121 187,121 — — Derivative instruments 7,063 7,063 — 7,063 —

Basis of Financial Reporting 39

Basis of Financial Reporting - Schedule of Impact on Previous Reporting (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Education technology, services, and payment processing revenue	$ 60,221	$ 56,024
Cost to provide education technology, services, and payment processing services		12,404
Scenario, Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Education technology, services, and payment processing revenue		43,620
Cost to provide education technology, services, and payment processing services		0
Accounting Standards Update 2014-09 [Member] | Restatement Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Education technology, services, and payment processing revenue		12,404
Cost to provide education technology, services, and payment processing services		$ 12,404

Basis of Financial Reporting 40

Basis of Financial Reporting - Schedule of Restricted Cash Previous Reporting (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in due to customers	$ (58,606)	$ (26,003)
Net cash provided by operating activities	57,952	47,830
Decrease in restricted cash		0
Net cash provided by investing activities	$ 102,330	858,089
Scenario, Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in due to customers		0
Net cash provided by operating activities		73,833
Decrease in restricted cash		193,326
Net cash provided by investing activities		1,051,415
Accounting Standards Update 2016-18 [Member] | Restatement Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in due to customers		(26,003)
Net cash provided by operating activities		(26,003)
Decrease in restricted cash		(193,326)
Net cash provided by investing activities		$ (193,326)

Summary of Significant Accoun41

Summary of Significant Accounting Policies and Practices - Schedule of Disaggregation of Revenue By Service Offerings (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Loan Servicing And Systems Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	$ 100,141	$ 54,229
Government Servicing - Nelnet [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	39,327	39,007
Government Servicing - Great Lakes [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	30,754	0
Private Education And Consumer Loan Servicing [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	13,101	5,817
FFELP Servicing [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	7,691	4,077
Software Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	7,589	4,337
Outsourced Services Revenue And Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	1,679	991
Education Technology Services And Payment Processing [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	60,221	56,024
Tuition Payment Plan Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	23,043	21,787
Payment Processing [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	19,926	18,945
Education Technology And Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	16,975	15,147
Other Service Offering [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	277	145
Communication Revenue, Service Offering [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	9,189	5,106
Internet [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	4,696	2,202
Television [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	2,783	1,623
Telephone [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	1,689	1,262
Other Communication Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	21	19
Communications Revenue, Customer [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	9,189	5,106
Residential Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	6,747	3,351
Business Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	2,381	1,696
Other Customer Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from service offerings	$ 61	$ 59

Summary of Significant Accoun42

Summary of Significant Accounting Policies and Practices - Schedule of Other Income by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Realized and unrealized gains on investments, net	$ 9,081	$ 324
Borrower late fee income	2,983	3,319
Investment advisory fees	1,593	3,516
Management fee revenue	1,161	0
Peterson's revenue	0	2,836
Other	3,380	2,637
Other income	$ 18,198	$ 12,632

Summary of Significant Accoun43

Summary of Significant Accounting Policies and Practices - Schedule of Contract Liabilities from Contracts with Customers (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred revenue, which is included in other liabilities on the consolidated balance sheets	$ 22,715	$ 32,276	$ 24,268	$ 33,141

Summary of Significant Accoun44

Summary of Significant Accounting Policies and Practices - Schedule of Changes in Liabilities from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Contract With Customer Liability [Roll Forward]
Balance, beginning of period	$ 32,276	$ 33,141
Deferral of revenue	17,050	15,918
Recognition of unearned revenue	(26,802)	(24,878)
Other	191	87
Balance, end of period	$ 22,715	$ 24,268

Loans Receivable and Allowanc45

Loans Receivable and Allowance for Loan Losses - Loans Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross	$ 21,733,713	$ 21,995,877
Loan discount, net of unamortized loan premiums and deferred origination costs	(103,542)	(113,695)
Allowance for loan losses	(55,294)	(54,590)	$ (50,526)	$ (51,842)
Student loans receivable	21,562,030	21,814,507
Non-accretable discount [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan discount, net of unamortized loan premiums and deferred origination costs	(12,847)	(13,085)
Consumer Portfolio Segment, Federally Insured [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross	21,461,548	21,721,606
Allowance for loan losses	(38,374)	(38,706)	(36,687)	(37,268)
Consumer Portfolio Segment, Federally Insured [Member] | Student Loan, Stafford And Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross	4,363,159	4,418,881
Consumer Portfolio Segment, Federally Insured [Member] | Student Loan, Consolidation Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross	17,098,389	17,302,725
Consumer Portfolio Segment, Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross	194,310	212,160
Allowance for loan losses	(12,255)	(12,629)	(13,839)	(14,574)
Consumer Portfolio Segment, Consumer Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Student loans receivable, gross	77,855	62,111
Allowance for loan losses	$ (4,665)	$ (3,255)	$ 0	$ 0

Loans Receivable and Allowanc46

Loans Receivable and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	$ 54,590	$ 51,842
Less provision for loan losses	4,000	1,000
Charge-offs	(4,466)	(2,663)
Recoveries	170	197
Other	1,000	150
Balance at end of period	55,294	50,526
Consumer Portfolio Segment, Federally Insured [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	38,706	37,268
Less provision for loan losses	2,000	2,000
Charge-offs	(3,332)	(2,581)
Recoveries	0	0
Other	1,000	0
Balance at end of period	38,374	36,687
Consumer Portfolio Segment, Private Education Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	12,629	14,574
Less provision for loan losses	0	(1,000)
Charge-offs	(539)	(82)
Recoveries	165	197
Other	0	150
Balance at end of period	12,255	13,839
Consumer Portfolio Segment, Consumer Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	3,255	0
Less provision for loan losses	2,000	0
Charge-offs	(595)	0
Recoveries	5	0
Other	0	0
Balance at end of period	$ 4,665	$ 0

Loans Receivable and Allowanc47

Loans Receivable and Allowance for Loan Losses - Loan Status and Delinquency (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 21,733,713	$ 21,995,877
Consumer Portfolio Segment, Federally Insured [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	21,461,548	21,721,606
Consumer Portfolio Segment, Federally Insured [Member] | Federally insured loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	1,312,319	1,260,394	$ 1,604,494
Loans in forbearance	1,650,913	1,774,405	2,125,344
Total loans	21,461,548	21,721,606	23,940,093
Loans in repayment status:
Loans current	$ 16,368,668	$ 16,477,004	$ 17,690,083
Loans current, percentage	88.50%	88.20%	87.50%
Total loans in repayment	$ 18,498,316	$ 18,686,807	$ 20,210,255
Total loans in repayment, percentage	100.00%	100.00%	100.00%
Consumer Portfolio Segment, Federally Insured [Member] | Financing Receivables, 31 to 60 Days Past Due [Member] | Federally insured loans [Member]
Loans in repayment status:
Loans past due	$ 669,490	$ 682,586	$ 732,433
Loans past due, percentage	3.60%	3.70%	3.60%
Consumer Portfolio Segment, Federally Insured [Member] | Financing Receivables, 61 to 90 Days Past Due [Member] | Federally insured loans [Member]
Loans in repayment status:
Loans past due	$ 426,696	$ 374,534	$ 493,876
Loans past due, percentage	2.30%	2.00%	2.40%
Consumer Portfolio Segment, Federally Insured [Member] | Financing receivables, 91-120 days past due [Member] | Federally insured loans [Member]
Loans in repayment status:
Loans past due	$ 252,659	$ 287,922	$ 275,711
Loans past due, percentage	1.40%	1.50%	1.40%
Consumer Portfolio Segment, Federally Insured [Member] | Financing receivables, 121-270 days past due [Member] | Federally insured loans [Member]
Loans in repayment status:
Loans past due	$ 570,538	$ 629,480	$ 763,030
Loans past due, percentage	3.10%	3.40%	3.80%
Consumer Portfolio Segment, Federally Insured [Member] | Financing receivables, 271 days or greater past due [Member] | Federally insured loans [Member]
Loans in repayment status:
Loans past due	$ 210,265	$ 235,281	$ 255,122
Loans past due, percentage	1.10%	1.20%	1.30%
Consumer Portfolio Segment, Private Education Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 194,310	$ 212,160
Consumer Portfolio Segment, Private Education Loans [Member] | Private education loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	5,532	6,053	$ 34,138
Loans in forbearance	2,574	2,237	3,811
Total loans	194,310	212,160	256,816
Loans in repayment status:
Loans current	$ 178,976	$ 196,720	$ 213,081
Loans current, percentage	96.10%	96.50%	97.40%
Total loans in repayment	$ 186,204	$ 203,870	$ 218,867
Total loans in repayment, percentage	100.00%	100.00%	100.00%
Consumer Portfolio Segment, Private Education Loans [Member] | Financing Receivables, 31 to 60 Days Past Due [Member] | Private education loans [Member]
Loans in repayment status:
Loans past due	$ 1,630	$ 1,867	$ 1,355
Loans past due, percentage	0.90%	0.90%	0.60%
Consumer Portfolio Segment, Private Education Loans [Member] | Financing Receivables, 61 to 90 Days Past Due [Member] | Private education loans [Member]
Loans in repayment status:
Loans past due	$ 1,110	$ 1,052	$ 1,402
Loans past due, percentage	0.60%	0.50%	0.60%
Consumer Portfolio Segment, Private Education Loans [Member] | Financing Receivables, Equal to Greater than 91 Days Past Due [Member] | Private education loans [Member]
Loans in repayment status:
Loans past due	$ 4,488	$ 4,231	$ 3,029
Loans past due, percentage	2.40%	2.10%	1.40%

Bonds and Notes Payable - Outst

Bonds and Notes Payable - Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Bonds and notes payable	$ 21,227,349	$ 21,356,573
Discount on bonds and notes payable and debt issuance costs	(354,445)	(370,554)
Variable-rate bonds and notes [Member] | Private education [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 66,765	74,717
Variable-rate bonds and notes [Member] | Private education [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate range	3.62%
Variable-rate bonds and notes [Member] | Private education [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate range	3.62%
Warehouse facilities [Member] | FFELP Warehouse Total [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 339,063	$ 335,992
Warehouse facilities [Member] | FFELP Warehouse Total [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate range	1.94%	1.55%
Warehouse facilities [Member] | FFELP Warehouse Total [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate range	2.00%	1.56%
Line of Credit [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 150,000	$ 10,000
Line of Credit [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate range	3.20%	2.98%
Line of Credit [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate range	3.20%	2.98%
Junior Subordinated Debt [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 20,381	$ 20,381
Junior Subordinated Debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate range	5.68%	5.07%
Junior Subordinated Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate range	5.68%	5.07%
Other borrowings [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 29,450	$ 70,516
Other borrowings [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate range	3.16%	2.44%
Other borrowings [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate range	3.66%	3.38%
Bonds and notes payable, gross [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 21,581,794	$ 21,727,127
Federally insured [Member] | Bonds and notes based on indices [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 20,132,994	$ 20,352,045
Federally insured [Member] | Bonds and notes based on indices [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate range	1.85%	1.47%
Federally insured [Member] | Bonds and notes based on indices [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate range	3.99%	3.37%
Federally insured [Member] | Bonds and notes based on auction or remarketing [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 766,948	$ 780,829
Federally insured [Member] | Bonds and notes based on auction or remarketing [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate range	2.20%	2.09%
Federally insured [Member] | Bonds and notes based on auction or remarketing [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate range	2.88%	2.69%
Federally insured [Member] | Variable-rate bonds and notes [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 20,899,942	$ 21,132,874
Private education [Member] | Variable-rate bonds and notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate range		3.30%
Private education [Member] | Variable-rate bonds and notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate range		3.30%
Private education [Member] | fixed rate bonds and notes [Member]
Debt Instrument [Line Items]
Bonds and notes payable	$ 76,193	$ 82,647
Private education [Member] | fixed rate bonds and notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate range	3.60%	3.60%
Private education [Member] | fixed rate bonds and notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate range	5.35%	5.35%

Bonds and Notes Payable - Out49

Bonds and Notes Payable - Outstanding Lines of Credit (Details) - FFELP Warehouse Total [Member] - Warehouse facilities [Member]	Mar. 31, 2018USD ($)
Line of Credit Facility [Line Items]
Maximum financing amount	$ 1,000,000,000
Amount outstanding	339,063,000
Amount available	660,937,000
Advanced as equity support	27,671,000
NFSLW-I Warehouse [Member]
Line of Credit Facility [Line Items]
Maximum financing amount	500,000,000
Amount outstanding	49,623,000
Amount available	450,377,000
Advanced as equity support	2,402,000
NHELP-II Warehouse [Member]
Line of Credit Facility [Line Items]
Maximum financing amount	500,000,000
Amount outstanding	289,440,000
Amount available	210,560,000
Advanced as equity support	$ 25,269,000
Minimum [Member] | NFSLW-I Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates	84.00%
Maximum advance rates	92.00%
Minimum [Member] | NHELP-II Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates	85.00%
Maximum advance rates	85.00%
Maximum [Member] | NFSLW-I Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates	90.00%
Maximum advance rates	98.00%
Maximum [Member] | NHELP-II Warehouse [Member]
Line of Credit Facility [Line Items]
Minimum advance rates	95.00%
Maximum advance rates	95.00%

Bonds and Notes Payable - Sched

Bonds and Notes Payable - Schedule of Asset-Backed Securitizations (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Debt Instrument [Line Items]
Total original principal amount	$ 473,750
Secured Debt [Member] | NSLT 2018-1 Class A-1 Notes [Member]
Debt Instrument [Line Items]
Total original principal amount	98,000
Secured Debt [Member] | NSLT 2018-1 Class A-2 Notes [Member]
Debt Instrument [Line Items]
Total original principal amount	$ 375,750
London Interbank Offered Rate (LIBOR) [Member] | Secured Debt [Member] | NSLT 2018-1 Class A-1 Notes [Member]
Debt Instrument [Line Items]
Variable interest rate on asset backed security	0.32%
London Interbank Offered Rate (LIBOR) [Member] | Secured Debt [Member] | NSLT 2018-1 Class A-2 Notes [Member]
Debt Instrument [Line Items]
Variable interest rate on asset backed security	0.76%

Bonds and Notes Payable - Narra

Bonds and Notes Payable - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Gain from debt repurchases	$ 359,000	$ 4,980,000
Unsecured Line of Credit [Member]
Debt Instrument [Line Items]
Maximum financing amount	350,000,000
Amount outstanding	150,000,000
Amount available	200,000,000
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Amount of debt repurchased	12,900,000
Repurchase price	12,500,000
Gain from debt repurchases	$ 400,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Amount of debt repurchased		29,700,000
Repurchase price		$ 25,300,000

Derivative Financial Instrume52

Derivative Financial Instruments - Schedule of Basis Swap (Details) - 1:3 basis swaps [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Notional amount	$ 9,500,000	$ 11,250,000
Maturity 2,018
Derivative [Line Items]
Notional amount	1,750,000	4,250,000
Maturity 2,019
Derivative [Line Items]
Notional amount	3,500,000	3,500,000
Maturity 2,022
Derivative [Line Items]
Notional amount	1,000,000	1,000,000
Maturity 2,023
Derivative [Line Items]
Notional amount	750,000
Maturity 2,024
Derivative [Line Items]
Notional amount	250,000	250,000
Maturity 2,026
Derivative [Line Items]
Notional amount	1,150,000	1,150,000
Maturity 2,027
Derivative [Line Items]
Notional amount	375,000	375,000
Maturity 2,028
Derivative [Line Items]
Notional amount	325,000	325,000
Maturity 2,029
Derivative [Line Items]
Notional amount	100,000	100,000
Maturity 2,031
Derivative [Line Items]
Notional amount	$ 300,000	$ 300,000

Derivative Financial Instrume53

Derivative Financial Instruments - Narrative (Details)	Aug. 20, 2014USD ($)	Jun. 30, 2015USD ($)contract	Mar. 31, 2017USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Derivative [Line Items]
Bonds and notes payable				$ 21,227,349,000	$ 21,356,573,000
1:3 basis swaps [Member]
Derivative [Line Items]
Weighted average basis point paid				0.106%	0.125%
Notional amount				$ 9,500,000,000	$ 11,250,000,000
Swaption [Member]
Derivative [Line Items]
Payments to enter into derivative instruments	$ 9,100,000
Notional amount				$ 250,000,000
Fixed interest rate of swap option				3.30%
Interest Rate Cap [Member]
Derivative [Line Items]
Payments to enter into derivative instruments		$ 2,900,000
Notional amount		$ 275,000,000
Number of interest rate cap contracts purchased | contract		2
Proceeds to terminate interest rate cap			$ 913,000
Private Loan Warehouse Total [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Bonds and notes payable		$ 275,000,000
Interest Rate Cap 1 [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Notional amount		$ 125,000,000
Interest rate cap strike rate		2.50%
Interest Rate Cap 2 [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Notional amount		$ 150,000,000
Interest rate cap strike rate		4.99%
2017 Interest Rate Cap [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Payments to enter into derivative instruments			$ 929,000
Junior Subordinated Debt [Member]
Derivative [Line Items]
Bonds and notes payable				$ 20,381,000	20,381,000
Junior Subordinated Debt [Member] | Maturity 2036 [Member] | Unsecured Debt Hedges [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional amount				25,000,000	25,000,000
Bonds and notes payable				$ 20,400,000	$ 20,400,000
Weighted average basis spread on variable rate paid on swap				3.375%
Fixed interest rate on derivatives and debt, net				7.66%	7.66%

Derivative Financial Instrume54

Derivative Financial Instruments - Schedule of Interest Rate Swaps, Floor Income Hedge (Details) - Interest rate swaps - floor income hedges [Member] - Interest Rate Swap [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Notional amount	$ 7,300,000	$ 7,300,000
Weighted average fixed rate paid by the Company	1.24%	1.21%
Maturity 2018 [Member]
Derivative [Line Items]
Notional amount	$ 1,250,000	$ 1,350,000
Weighted average fixed rate paid by the Company	1.08%	1.07%
Maturity 2019 [Member]
Derivative [Line Items]
Notional amount	$ 3,250,000	$ 3,250,000
Weighted average fixed rate paid by the Company	0.97%	0.97%
Maturity 2020 [Member]
Derivative [Line Items]
Notional amount	$ 1,500,000	$ 1,500,000
Weighted average fixed rate paid by the Company	1.01%	1.01%
Maturity 2023 [Member]
Derivative [Line Items]
Notional amount	$ 750,000	$ 750,000
Weighted average fixed rate paid by the Company	2.28%	2.28%
Maturity 2024 [Member]
Derivative [Line Items]
Notional amount	$ 300,000	$ 300,000
Weighted average fixed rate paid by the Company	2.28%	2.28%
Maturity 2025 [Member]
Derivative [Line Items]
Notional amount	$ 100,000	$ 100,000
Weighted average fixed rate paid by the Company	2.32%	2.32%
Maturity 2027 [Member]
Derivative [Line Items]
Notional amount	$ 50,000	$ 50,000
Weighted average fixed rate paid by the Company	2.32%	2.32%
Maturity 2028 [Member]
Derivative [Line Items]
Notional amount	$ 100,000	$ 0
Weighted average fixed rate paid by the Company	3.03%	0.00%

Derivative Financial Instrume55

Derivative Financial Instruments - Schedule of Interest Rate Swaps, Unsecured Debt Hedges (Details) - Junior Subordinated Debt [Member] - Maturity 2036 [Member] - Interest Rate Swap [Member] - Unsecured Debt Hedges [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Notional amount	$ 25,000	$ 25,000
Weighted average fixed rate paid by the Company	4.28%	4.28%

Derivative Financial Instrume56

Derivative Financial Instruments - Schedule of Derivatives as Reflected on Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	$ 1,891	$ 818
Fair value of derivative instruments	5,601	7,063
Derivative Financial Instruments, Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	1,891	818
Derivative Financial Instruments, Assets [Member] | Swaption [Member]
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	1,290	543
Derivative Financial Instruments, Assets [Member] | Interest Rate Cap [Member]
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	601	275
Derivative Financial Instruments, Assets [Member] | Interest rate swaps - hybrid debt hedges [Member]
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	0	0
Derivative Financial Instruments, Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments	5,601	7,063
Derivative Financial Instruments, Liabilities [Member] | Swaption [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments	0	0
Derivative Financial Instruments, Liabilities [Member] | Interest Rate Cap [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments	0	0
Derivative Financial Instruments, Liabilities [Member] | Interest rate swaps - hybrid debt hedges [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments	$ 5,601	$ 7,063

Derivative Financial Instrume57

Derivative Financial Instruments - Schedule of Offsetting of Derivative Assets/Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Net asset	$ 1,891	$ 818
Net asset (liability)	1,919	1,457
Derivative Financial Instruments, Assets [Member]
Derivatives, Fair Value [Line Items]
Gross amounts of recognized assets presented in the consolidated balance sheets	1,891	818
Derivatives subject to enforceable master netting arrangement	0	0
Cash collateral received	0	0
Derivative Financial Instruments, Liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross amounts of recognized liabilities presented in the consolidated balance sheets	(5,601)	(7,063)
Derivatives subject to enforceable master netting arrangement	0	0
Cash collateral pledged	$ 7,520	$ 8,520

Derivative Financial Instrume58

Derivative Financial Instruments - Schedule of Income Statement Impact (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	$ 6,766	$ (1,378)
Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	6,766	(1,378)
Change in fair value	60,033	1,238
Re-measurement of Euro Notes (foreign currency transaction adjustment)	0	(4,690)
Derivative market value and foreign currency transaction adjustments and derivative settlements, net - income (expense)	66,799	(4,830)
1:3 basis swaps [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(1,664)	698
Change in fair value	13,297	(2,574)
Interest rate swaps - floor income hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	8,590	(120)
Change in fair value	44,201	4,324
Interest rate swap option - floor income hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	747	(884)
Interest rate swaps - hybrid debt hedges [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	(160)	(205)
Change in fair value	1,462	419
Interest Rate Cap [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	326	(522)
Cross-currency interest rate swap [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	0	(1,751)
Change in fair value	0	935
Other Contract [Member] | Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	$ 0	$ (460)

Investments and Notes Receiva59

Investments and Notes Receivable (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Student loan asset-backed and other debt securities - available-for-sale
Amortized cost	$ 78,203,000
Gross unrealized gains	4,558,000
Gross unrealized losses	(634,000)
Fair value	82,127,000
Equity securities
Amortized cost	13,682,000
Gross unrealized gains	3,554,000
Gross unrealized losses	(151,000)
Fair value	17,085,000
Total investments (at fair value)
Amortized cost	91,885,000
Gross unrealized gains	8,112,000
Gross unrealized losses	(785,000)
Fair value	99,212,000
Other Investments and Notes Receivable (not measured at fair value):
Other Investments and Notes Receivable (not measured at fair value):	159,214,000
Available-for-sale investments:
Total investments and notes receivable	258,426,000	$ 240,538,000
Impairment loss	0
Upward adjustment	6,900,000
Investments [Member] | Available-for-sale investments [Member]
Available-for-sale investments:
Amortized cost		73,573,000
Gross unrealized gains		7,354,000
Gross unrealized losses		(25,000)
Fair value		80,902,000
Available for sale investments with unrealized losses	17,800,000
Investments [Member] | Available-for-sale investments [Member] | Student Loan Asset-Backed and Other Debt Securities [Member]
Available-for-sale investments:
Amortized cost		71,943,000
Gross unrealized gains		5,056,000
Gross unrealized losses		(25,000)
Fair value		76,974,000
Investments [Member] | Available-for-sale investments [Member] | Equity securities [Member]
Available-for-sale investments:
Amortized cost		1,630,000
Gross unrealized gains		2,298,000
Gross unrealized losses		0
Fair value		3,928,000
Other Investments and Notes Receivable (not measured at fair value) [Member] | Venture Capital and Funds [Member]
Other Investments and Notes Receivable (not measured at fair value):
Measurement alternative	68,409,000
Equity method	16,175,000
Other	783,000
Other Investments and Notes Receivable (not measured at fair value):	85,367,000	84,752,000
Other Investments and Notes Receivable (not measured at fair value) [Member] | Notes Receivable [Member]
Other Investments and Notes Receivable (not measured at fair value):
Other Investments and Notes Receivable (not measured at fair value):	16,373,000	16,393,000
Other Investments and Notes Receivable (not measured at fair value) [Member] | Real Estate Investment [Member]
Other Investments and Notes Receivable (not measured at fair value):
Equity method	18,850,000
Other	30,005,000
Other Investments and Notes Receivable (not measured at fair value):	48,855,000	49,464,000
Other Investments and Notes Receivable (not measured at fair value) [Member] | Tax liens and affordable housing investments [Member]
Other Investments and Notes Receivable (not measured at fair value):
Other Investments and Notes Receivable (not measured at fair value):	$ 8,619,000	$ 9,027,000
Student Asset Backed And Other Debt Securities [Member] | Available-for-sale investments [Member]
Available-for-sale investments:
Available for sale securities, minimum maturity term	10 years

Business Combination - Narrativ

Business Combination - Narrative (Details) - USD ($) $ in Thousands	Feb. 07, 2018	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill		$ 158,456	$ 138,759
Great Lakes Educational Loan Service [Member]
Business Acquisition [Line Items]
Percent ownership acquired	100.00%
Payments to acquire businesses	$ 150,000
Reduction to equity as result of remeasurement of equity interest previously held	$ 19,100
Equity interest previously held	50.00%
Consideration allocated to assets acquired and liabilities assumed	$ 136,551
Intangible assets acquired	$ 72,278
Weighted average useful life of intangible assets acquired	4 years
Goodwill	$ 19,697
Acquiree revenue since acquisition		43,500
Acquiree net income as of acquisition		$ 11,900
Great Lakes Educational Loan Service [Member] | GreatNet [Member]
Business Acquisition [Line Items]
Percent ownership acquired	50.00%
Noncontrolling interests [Member] | Great Lakes Educational Loan Service [Member]
Business Acquisition [Line Items]
Reduction to equity as result of remeasurement of equity interest previously held	$ 5,700
Retained earnings [Member] | Great Lakes Educational Loan Service [Member]
Business Acquisition [Line Items]
Reduction to equity as result of remeasurement of equity interest previously held	13,400
Customer Relationships [Member] | Great Lakes Educational Loan Service [Member]
Business Acquisition [Line Items]
Intangible assets acquired	$ 67,200
Weighted average useful life of intangible assets acquired	4 years
Trade Names [Member] | Great Lakes Educational Loan Service [Member]
Business Acquisition [Line Items]
Intangible assets acquired	$ 5,100
Weighted average useful life of intangible assets acquired	7 years

Business Combination - Schedule

Business Combination - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Feb. 07, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill	$ 158,456		$ 138,759
Great Lakes Educational Loan Service [Member]
Business Acquisition [Line Items]
Cash and cash equivalents		$ 27,399
Accounts receivable		23,708
Property and equipment		36,040
Other assets		14,015
Intangible assets		72,278
Goodwill		19,697
Other liabilities		(56,586)
Net assets acquired		$ 136,551

Business Combination - Schedu62

Business Combination - Schedule of Pro Forma Information (Details) - Great Lakes Educational Loan Service [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Loan servicing and systems revenue	$ 120,188	$ 116,149
Net income attributable to Nelnet, Inc.	$ 118,029	$ 61,421
Net income per share - basic and diluted (in dollars per share)	$ 2.88	$ 1.45

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life as of March 31, 2018 (months)	75 months
Finite-lived intangible assets, net	$ 107,192		$ 38,427
Amortization of intangible assets	$ 6,200	$ 2,400
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life as of March 31, 2018 (months)	77 months
Finite-lived intangible assets, net	$ 87,275		24,168
Accumulated amortization of intangible assets	$ 16,766		12,715
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life as of March 31, 2018 (months)	86 months
Finite-lived intangible assets, net	$ 13,409		9,074
Accumulated amortization of intangible assets	$ 3,283		2,498
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life as of March 31, 2018 (months)	20 months
Finite-lived intangible assets, net	$ 6,290		4,958
Accumulated amortization of intangible assets	$ 11,381		10,013
Covenants not to compete [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life as of March 31, 2018 (months)	74 months
Finite-lived intangible assets, net	$ 218		227
Accumulated amortization of intangible assets	$ 136		$ 127

Intangible Assets - Amortizatio

Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2018 (April 1 - December 31)	$ 22,975
2,019	27,373
2,020	24,175
2,021	14,278
2,022	3,723
2023 and thereafter	14,668
Finite-lived intangible assets, net	$ 107,192	$ 38,427

Goodwill (Details)

Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 138,759
Goodwill acquired during the period	19,697
Balance at end of period	158,456
Loan Servicing and Systems [Member]
Goodwill [Roll Forward]
Balance at beginning of period	8,596
Goodwill acquired during the period	19,697
Balance at end of period	28,293
Education Technology Services And Payment Processing [Member]
Goodwill [Roll Forward]
Balance at beginning of period	67,168
Goodwill acquired during the period	0
Balance at end of period	67,168
Communications [Member]
Goodwill [Roll Forward]
Balance at beginning of period	21,112
Goodwill acquired during the period	0
Balance at end of period	21,112
Asset Generation and Management [Member]
Goodwill [Roll Forward]
Balance at beginning of period	41,883
Goodwill acquired during the period	0
Balance at end of period	41,883
Corporate and Other Activities [Member]
Goodwill [Roll Forward]
Balance at beginning of period	0
Goodwill acquired during the period	0
Balance at end of period	$ 0

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 299,837		$ 248,051
Depreciation	12,200	$ 6,200
Non-communications [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	218,958		182,248
Accumulated depreciation	(103,104)		(105,017)
Property and equipment, net	115,854		77,231
Non-communications [Member] | Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 128,304		124,708
Non-communications [Member] | Computer Equipment and Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	1 year
Non-communications [Member] | Computer Equipment and Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years
Non-communications [Member] | Building [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 46,576		24,003
Non-communications [Member] | Building [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years
Non-communications [Member] | Building [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	39 years
Non-communications [Member] | Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 21,474		15,210
Non-communications [Member] | Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	3 years
Non-communications [Member] | Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	7 years
Non-communications [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 9,177		7,759
Non-communications [Member] | Leasehold Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years
Non-communications [Member] | Leasehold Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	15 years
Non-communications [Member] | Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,371		3,813
Non-communications [Member] | Transportation Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	4 years
Non-communications [Member] | Transportation Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	10 years
Non-communications [Member] | Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,328		2,628
Non-communications [Member] | Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,728		4,127
Communications [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	204,297		186,398
Accumulated depreciation	(20,314)		(15,578)
Property and equipment, net	183,983		170,820
Communications [Member] | Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,598		3,790
Communications [Member] | Computer Equipment and Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	1 year
Communications [Member] | Computer Equipment and Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years
Communications [Member] | Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,923		5,759
Communications [Member] | Transportation Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	4 years
Communications [Member] | Transportation Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	10 years
Communications [Member] | Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 70		70
Communications [Member] | Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	12,170		11,620
Communications [Member] | Network plant and fiber [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 152,054		138,122
Communications [Member] | Network plant and fiber [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years
Communications [Member] | Network plant and fiber [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	15 years
Communications [Member] | Customer located property [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 15,565		13,767
Communications [Member] | Customer located property [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years
Communications [Member] | Customer located property [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	10 years
Communications [Member] | Central office [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 11,286		10,754
Communications [Member] | Central office [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years
Communications [Member] | Central office [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	15 years
Communications [Member] | Other Capitalized Property Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,631		$ 2,516
Communications [Member] | Other Capitalized Property Plant and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	1 year
Communications [Member] | Other Capitalized Property Plant and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
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, 2018	Mar. 31, 2017
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 113,925	$ 50,026
Weighted average common shares outstanding - basic and diluted (in shares)	40,950,528	42,291,857
Earnings per share - basic and diluted (in dollars per share)	$ 2.78	$ 1.18
Common shareholders [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 112,788	$ 49,505
Weighted average common shares outstanding - basic and diluted (in shares)	40,541,870	41,851,064
Earnings per share - basic and diluted (in dollars per share)	$ 2.78	$ 1.18
Unvested restricted stock shareholders [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 1,137	$ 521
Weighted average common shares outstanding - basic and diluted (in shares)	408,658	440,793
Earnings per share - basic and diluted (in dollars per share)	$ 2.78	$ 1.18

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Tax Cuts And Jobs Act Of 2017, Segment Income Before Tax Allocation Percentage	24.00%
Total interest income	$ 202,857	$ 183,824
Interest expense	135,550	106,899
Net interest income	67,307	76,925
Less provision for loan losses	4,000	1,000
Net interest income (loss) after provision for loan losses	63,307	75,925
Other income:
Loan servicing and systems revenue	100,141	54,229
Intersegment servicing revenue	0	0
Education technology, services, and payment processing revenue	60,221	56,024
Communications revenue	9,189	5,106
Other income	18,198	12,632
Gain from debt repurchases	359	4,980
Derivative settlements, net	6,766	(1,378)
Derivative market value and foreign currency transaction adjustments, net	60,033	(3,452)
Total other income	254,907	128,141
Cost of services:
Cost to provide education technology, services, and payment processing services	13,683	12,790
Cost to provide communications services	3,717	1,954
Total cost of services	17,400	14,744
Operating expenses:
Salaries and benefits	96,643	71,863
Depreciation and amortization	18,457	8,598
Loan servicing fees	3,136	6,025
Other expenses	33,417	26,161
Intersegment expenses, net	0	0
Total operating expenses	151,653	112,647
Income (loss) before income taxes	149,161	76,675
Income tax (expense) benefit (a)	(35,976)	(28,755)
Net income (loss)	113,185	47,920
Net loss (income) attributable to noncontrolling interests	740	2,106
Net income (loss) attributable to Nelnet, Inc.	113,925	50,026
Total assets	23,898,402	26,141,220	$ 23,964,435
Operating Segments [Member] | Loan Servicing and Systems [Member]
Segment Reporting Information [Line Items]
Total interest income	257	94
Interest expense	0	0
Net interest income	257	94
Less provision for loan losses	0	0
Net interest income (loss) after provision for loan losses	257	94
Other income:
Loan servicing and systems revenue	100,141	54,229
Intersegment servicing revenue	10,771	10,323
Education technology, services, and payment processing revenue	0	0
Communications revenue	0	0
Other income	1,292	0
Gain from debt repurchases	0	0
Derivative settlements, net	0	0
Derivative market value and foreign currency transaction adjustments, net	0	0
Total other income	112,204	64,552
Cost of services:
Cost to provide education technology, services, and payment processing services	0	0
Cost to provide communications services	0	0
Total cost of services	0	0
Operating expenses:
Salaries and benefits	58,537	37,992
Depreciation and amortization	6,069	549
Loan servicing fees	0	0
Other expenses	14,463	9,136
Intersegment expenses, net	13,356	7,398
Total operating expenses	92,425	55,075
Income (loss) before income taxes	20,036	9,571
Income tax (expense) benefit (a)	(5,003)	(4,555)
Net income (loss)	15,033	5,016
Net loss (income) attributable to noncontrolling interests	808	2,415
Net income (loss) attributable to Nelnet, Inc.	15,841	7,431
Total assets	281,208	87,115
Operating Segments [Member] | Education Technology Services And Payment Processing [Member]
Segment Reporting Information [Line Items]
Total interest income	665	2
Interest expense	0	0
Net interest income	665	2
Less provision for loan losses	0	0
Net interest income (loss) after provision for loan losses	665	2
Other income:
Loan servicing and systems revenue	0	0
Intersegment servicing revenue	0	0
Education technology, services, and payment processing revenue	60,221	56,024
Communications revenue	0	0
Other income	0	0
Gain from debt repurchases	0	0
Derivative settlements, net	0	0
Derivative market value and foreign currency transaction adjustments, net	0	0
Total other income	60,221	56,024
Cost of services:
Cost to provide education technology, services, and payment processing services	13,683	12,790
Cost to provide communications services	0	0
Total cost of services	13,683	12,790
Operating expenses:
Salaries and benefits	19,067	16,652
Depreciation and amortization	3,341	2,391
Loan servicing fees	0	0
Other expenses	4,624	4,609
Intersegment expenses, net	2,567	2,075
Total operating expenses	29,599	25,727
Income (loss) before income taxes	17,604	17,509
Income tax (expense) benefit (a)	(4,225)	(6,653)
Net income (loss)	13,379	10,856
Net loss (income) attributable to noncontrolling interests	0	0
Net income (loss) attributable to Nelnet, Inc.	13,379	10,856
Total assets	193,283	194,809
Operating Segments [Member] | Communications [Member]
Segment Reporting Information [Line Items]
Total interest income	1	1
Interest expense	2,509	712
Net interest income	(2,508)	(711)
Less provision for loan losses	0	0
Net interest income (loss) after provision for loan losses	(2,508)	(711)
Other income:
Loan servicing and systems revenue	0	0
Intersegment servicing revenue	0	0
Education technology, services, and payment processing revenue	0	0
Communications revenue	9,189	5,106
Other income	0	0
Gain from debt repurchases	0	0
Derivative settlements, net	0	0
Derivative market value and foreign currency transaction adjustments, net	0	0
Total other income	9,189	5,106
Cost of services:
Cost to provide education technology, services, and payment processing services	0	0
Cost to provide communications services	3,717	1,954
Total cost of services	3,717	1,954
Operating expenses:
Salaries and benefits	4,063	2,979
Depreciation and amortization	4,921	2,135
Loan servicing fees	0	0
Other expenses	2,638	1,372
Intersegment expenses, net	605	506
Total operating expenses	12,227	6,992
Income (loss) before income taxes	(9,263)	(4,551)
Income tax (expense) benefit (a)	2,223	1,730
Net income (loss)	(7,040)	(2,821)
Net loss (income) attributable to noncontrolling interests	0	0
Net income (loss) attributable to Nelnet, Inc.	(7,040)	(2,821)
Total assets	228,750	118,842
Operating Segments [Member] | Asset Generation and Management [Member]
Segment Reporting Information [Line Items]
Total interest income	200,334	182,326
Interest expense	134,233	106,751
Net interest income	66,101	75,575
Less provision for loan losses	4,000	1,000
Net interest income (loss) after provision for loan losses	62,101	74,575
Other income:
Loan servicing and systems revenue	0	0
Intersegment servicing revenue	0	0
Education technology, services, and payment processing revenue	0	0
Communications revenue	0	0
Other income	2,992	3,342
Gain from debt repurchases	359	540
Derivative settlements, net	6,926	(1,173)
Derivative market value and foreign currency transaction adjustments, net	58,571	(3,410)
Total other income	68,848	(701)
Cost of services:
Cost to provide education technology, services, and payment processing services	0	0
Cost to provide communications services	0	0
Total cost of services	0	0
Operating expenses:
Salaries and benefits	382	400
Depreciation and amortization	0	0
Loan servicing fees	3,136	6,025
Other expenses	848	991
Intersegment expenses, net	10,865	10,412
Total operating expenses	15,231	17,828
Income (loss) before income taxes	115,718	56,046
Income tax (expense) benefit (a)	(27,773)	(21,297)
Net income (loss)	87,945	34,749
Net loss (income) attributable to noncontrolling interests	0	0
Net income (loss) attributable to Nelnet, Inc.	87,945	34,749
Total assets	22,804,734	25,325,220
Operating Segments [Member] | Corporate and Other Activities [Member]
Segment Reporting Information [Line Items]
Total interest income	4,751	2,761
Interest expense	1,958	795
Net interest income	2,793	1,966
Less provision for loan losses	0	0
Net interest income (loss) after provision for loan losses	2,793	1,966
Other income:
Loan servicing and systems revenue	0	0
Intersegment servicing revenue	0	0
Education technology, services, and payment processing revenue	0	0
Communications revenue	0	0
Other income	13,914	9,290
Gain from debt repurchases	0	4,440
Derivative settlements, net	(160)	(205)
Derivative market value and foreign currency transaction adjustments, net	1,462	(42)
Total other income	15,216	13,483
Cost of services:
Cost to provide education technology, services, and payment processing services	0	0
Cost to provide communications services	0	0
Total cost of services	0	0
Operating expenses:
Salaries and benefits	14,594	13,839
Depreciation and amortization	4,126	3,523
Loan servicing fees	0	0
Other expenses	10,845	10,054
Intersegment expenses, net	(16,622)	(10,068)
Total operating expenses	12,943	17,348
Income (loss) before income taxes	5,066	(1,899)
Income tax (expense) benefit (a)	(1,199)	2,021
Net income (loss)	3,867	122
Net loss (income) attributable to noncontrolling interests	(68)	(309)
Net income (loss) attributable to Nelnet, Inc.	3,799	(187)
Total assets	718,251	682,639
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total interest income	(3,150)	(1,359)
Interest expense	(3,150)	(1,359)
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 servicing and systems revenue	0	0
Intersegment servicing revenue	(10,771)	(10,323)
Education technology, services, and payment processing revenue	0	0
Communications revenue	0	0
Other income	0	0
Gain from debt repurchases	0	0
Derivative settlements, net	0	0
Derivative market value and foreign currency transaction adjustments, net	0	0
Total other income	(10,771)	(10,323)
Cost of services:
Cost to provide education technology, services, and payment processing services	0	0
Cost to provide communications services	0	0
Total cost of services	0	0
Operating expenses:
Salaries and benefits	0	0
Depreciation and amortization	0	0
Loan servicing fees	0	0
Other expenses	0	0
Intersegment expenses, net	(10,771)	(10,323)
Total operating expenses	(10,771)	(10,323)
Income (loss) before income taxes	0	0
Income tax (expense) benefit (a)	0	0
Net income (loss)	0	0
Net loss (income) attributable to noncontrolling interests	0	0
Net income (loss) attributable to Nelnet, Inc.	0	0
Total assets	$ (327,824)	$ (267,405)

Major Customer (Details)

Major Customer (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2017
Concentration Risk Dollar Value [Member]
Concentration Risk [Line Items]
Loan systems and servicing revenue		$ 39.3	$ 39
Great Lakes Educational Loan Service [Member]
Concentration Risk [Line Items]
Acquiree revenue since acquisition	$ 43.5
Great Lakes Educational Loan Service [Member] | Concentration Risk Dollar Value [Member]
Concentration Risk [Line Items]
Acquiree revenue since acquisition	$ 30.8

Assets and Liabilities that are

Assets and Liabilities that are Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Equity securities [Member]
Financial assets:
Equity securities measured at net asset value	$ 12,366
Fair Value, Measurements, Recurring [Member]
Financial assets:
Fair value	99,212	$ 80,902
Fair value of derivative instruments	1,891	818
Total assets	101,103	81,720
Financial liabilities:
Fair value of derivative instruments	5,601	7,063
Total liabilities	5,601	7,063
Fair Value, Measurements, Recurring [Member] | Student loan asset-backed securities [Member]
Financial assets:
Fair value	82,020	76,866
Fair Value, Measurements, Recurring [Member] | Equity securities [Member]
Financial assets:
Fair value	4,719	3,928
Fair Value, Measurements, Recurring [Member] | Debt securities [Member]
Financial assets:
Fair value	107	108
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Financial assets:
Fair value	4,826	4,036
Fair value of derivative instruments	0	0
Total assets	4,826	4,036
Financial liabilities:
Fair value of derivative instruments	0	0
Total liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Student loan asset-backed securities [Member]
Financial assets:
Fair value	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Equity securities [Member]
Financial assets:
Fair value	4,719	3,928
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Debt securities [Member]
Financial assets:
Fair value	107	108
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Financial assets:
Fair value	82,020	76,866
Fair value of derivative instruments	1,891	818
Total assets	83,911	77,684
Financial liabilities:
Fair value of derivative instruments	5,601	7,063
Total liabilities	5,601	7,063
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Student loan asset-backed securities [Member]
Financial assets:
Fair value	82,020	76,866
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Equity securities [Member]
Financial assets:
Fair value	0	0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Debt securities [Member]
Financial assets:
Fair value	$ 0	$ 0

Fair Value of Financial Instrum

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Financial assets:
Loans receivable	$ 21,562,030	$ 21,814,507
Cash and cash equivalents	69,286	66,752	$ 108,160	$ 69,654
Restricted cash	727,471	688,193
Restricted cash – due to customers	128,515	187,121	$ 93,699	$ 119,702
Accrued interest receivable	489,395	430,385
Derivative instruments	1,891	818
Financial liabilities:
Bonds and notes payable	21,227,349	21,356,573
Accrued interest payable	54,252	50,039
Due to customers	128,515	187,121
Derivative instruments	5,601	7,063
Fair value [Member]
Financial assets:
Loans receivable	22,884,620	23,106,440
Cash and cash equivalents	69,286	66,752
Investments (at fair value)	99,212	80,902
Notes receivable	16,373	16,393
Restricted cash	727,471	688,193
Restricted cash – due to customers	128,515	187,121
Accrued interest receivable	489,395	430,385
Derivative instruments	1,891	818
Financial liabilities:
Bonds and notes payable	21,475,380	21,521,463
Accrued interest payable	54,252	50,039
Due to customers	128,515	187,121
Derivative instruments	5,601	7,063
Fair value [Member] | Level 1 [Member]
Financial assets:
Loans receivable	0	0
Cash and cash equivalents	69,286	66,752
Investments (at fair value)	4,826	4,036
Notes receivable	0	0
Restricted cash	727,471	688,193
Restricted cash – due to customers	128,515	187,121
Accrued interest receivable	0	0
Derivative instruments	0	0
Financial liabilities:
Bonds and notes payable	0	0
Accrued interest payable	0	0
Due to customers	128,515	187,121
Derivative instruments	0	0
Fair value [Member] | Level 2 [Member]
Financial assets:
Loans receivable	0	0
Cash and cash equivalents	0	0
Investments (at fair value)	82,020	76,866
Notes receivable	16,373	16,393
Restricted cash	0	0
Restricted cash – due to customers	0	0
Accrued interest receivable	489,395	430,385
Derivative instruments	1,891	818
Financial liabilities:
Bonds and notes payable	21,475,380	21,521,463
Accrued interest payable	54,252	50,039
Due to customers	0	0
Derivative instruments	5,601	7,063
Fair value [Member] | Level 3 [Member]
Financial assets:
Loans receivable	22,884,620	23,106,440
Cash and cash equivalents	0	0
Investments (at fair value)	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
Financial liabilities:
Bonds and notes payable	0	0
Accrued interest payable	0	0
Due to customers	0	0
Derivative instruments	0	0
Carrying value [Member]
Financial assets:
Loans receivable	21,562,030	21,814,507
Cash and cash equivalents	69,286	66,752
Investments (at fair value)	99,212	80,902
Notes receivable	16,373	16,393
Restricted cash	727,471	688,193
Restricted cash – due to customers	128,515	187,121
Accrued interest receivable	489,395	430,385
Derivative instruments	1,891	818
Financial liabilities:
Bonds and notes payable	21,227,349	21,356,573
Accrued interest payable	54,252	50,039
Due to customers	128,515	187,121
Derivative instruments	$ 5,601	$ 7,063

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Apr. 25, 2018	May 08, 2018	Mar. 31, 2018	Mar. 31, 2017
Subsequent Event [Line Items]
Purchase of financing receivables			$ 1,000,000	$ 150,000
Consumer Portfolio Segment, Federally Insured [Member]
Subsequent Event [Line Items]
Purchase of financing receivables			1,000,000	$ 0
Consumer Portfolio Segment, Federally Insured [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Purchase of financing receivables	$ 1,500,000,000	$ 351,300,000
Warehouse facilities [Member] | FFELP Warehouse Total [Member]
Subsequent Event [Line Items]
Maximum financing amount			$ 1,000,000,000
Warehouse facilities [Member] | FFELP Warehouse Total [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Maximum financing amount		$ 2,300,000,000