Nelnet (NNI) 10-Q 8 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Jul. 31, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-31924
Entity Registrant Name	NELNET, INC.
Entity Incorporation, State or Country Code	NE
Entity Tax Identification Number	84-0748903
Entity Address, Address Line One	121 South 13th Street, Suite 100
Entity Address, City or Town	Lincoln,
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68508
City Area Code	402
Local Phone Number	458-2370
Title of 12(b) Security	Class A Common Stock, Par Value $0.01 per Share
Trading Symbol	NNI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001258602
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		26,540,797
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		10,674,892

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets:
Loans and accrued interest receivable (net of allowance for loan losses of $120,424 and $127,113, respectively)	$ 16,916,344	$ 18,335,197
Cash and cash equivalents:
Cash and cash equivalents - not held at a related party	32,849	30,128
Cash and cash equivalents - held at a related party	95,650	95,435
Total cash and cash equivalents	128,499	125,563
Investments and notes receivable	1,988,450	1,588,919
Restricted cash	754,693	741,981
Restricted cash - due to customers	290,850	326,645
Accounts receivable (net of allowance for doubtful accounts of $1,342 and $1,160, respectively)	119,774	163,315
Goodwill	149,117	142,092
Intangible assets, net	70,086	52,029
Property and equipment, net	123,738	119,413
Other assets	82,462	82,887
Total assets	20,624,013	21,678,041
Liabilities:
Bonds and notes payable	16,115,269	17,631,089
Accrued interest payable	12,963	4,566
Bank deposits	588,474	344,315
Other liabilities	406,686	379,231
Due to customers	409,476	366,002
Total liabilities	17,532,868	18,725,203
Commitments and contingencies
Nelnet, Inc. shareholders' equity:
Preferred stock, $0.01 par value. Authorized 50,000,000 shares; no shares issued or outstanding	0	0
Common stock:
Additional paid-in capital	1,180	1,000
Retained earnings	3,127,687	2,940,523
Accumulated other comprehensive (loss) earnings, net	(31,858)	9,304
Total Nelnet, Inc. shareholders' equity	3,097,382	2,951,206
Noncontrolling interests	(6,237)	1,632
Total equity	3,091,145	2,952,838
Total liabilities and equity	20,624,013	21,678,041
Variable Interest Entity, Primary Beneficiary
Assets:
Loans and accrued interest receivable (net of allowance for loan losses of $120,424 and $127,113, respectively)	16,294,069	17,981,414
Cash and cash equivalents:
Restricted cash	678,871	674,073
Liabilities:
Bonds and notes payable	15,823,651	17,462,456
Common stock:
Accrued interest payable and other liabilities	(60,461)	(36,276)
Net assets of consolidated education lending variable interest entities	1,088,828	1,156,755
Class A, $0.01 par value. Authorized 600,000,000 shares; issued and outstanding 26,613,733 shares and 27,239,654 shares, respectively
Common stock:
Common stock	266	272
Class B, convertible, $0.01 par value. Authorized 60,000,000 shares; issued and outstanding 10,674,892 shares and 10,676,642 shares, respectively
Common stock:
Common stock	$ 107	$ 107

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Allowance for loan losses	$ 120,424	$ 127,113
Allowance for doubtful accounts	$ 1,342	$ 1,160
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
Par value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized (in shares)	600,000,000	600,000,000
Shares issued (in shares)	26,613,733	27,239,654
Shares outstanding (in shares)	26,613,733	27,239,654
Common Class B
Par value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized (in shares)	60,000,000	60,000,000
Shares issued (in shares)	10,674,892	10,676,642
Shares outstanding (in shares)	10,674,892	10,676,642

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest income:
Loan interest	$ 134,706	$ 122,005	$ 246,083	$ 246,123
Investment interest	16,881	11,578	30,700	16,563
Total interest income	151,587	133,583	276,783	262,686
Interest expense on bonds and notes payable and bank deposits	73,642	49,991	121,721	77,764
Net interest income	77,945	83,592	155,062	184,922
Provision (negative provision) for loan losses	9,409	374	8,974	(16,674)
Net interest income after provision for loan losses	68,536	83,218	146,088	201,596
Other income/expense:
Other	12,647	22,921	22,524	18,317
Gain on sale of loans	0	15,271	2,989	15,271
Impairment expense and provision for beneficial interests, net	(6,284)	(500)	(6,284)	1,936
Derivative market value adjustments and derivative settlements, net	45,024	(6,989)	187,949	27,516
Total other income/expense	267,291	219,499	671,736	458,611
Cost of services	30,852	21,676	66,397	48,728
Operating expenses:
Salaries and benefits	141,398	118,968	290,813	234,759
Depreciation and amortization	18,250	20,236	35,206	40,419
Other expenses	36,940	32,587	76,439	69,286
Total operating expenses	196,588	171,791	402,458	344,464
Income before income taxes	108,387	109,250	348,969	267,015
Income tax expense	25,483	26,237	81,180	61,098
Net income	82,904	83,013	267,789	205,917
Net loss attributable to noncontrolling interests	2,225	854	3,987	1,548
Net income attributable to Nelnet, Inc.	$ 85,129	$ 83,867	$ 271,776	$ 207,465
Earnings per common share:
Net income attributable to Nelnet, Inc. shareholders - basic (in dollars per share)	$ 2.26	$ 2.16	$ 7.18	$ 5.36
Net income attributable to Nelnet, Inc. shareholders - diluted (in dollars per share)	$ 2.26	$ 2.16	$ 7.18	$ 5.36
Weighted-average common shares outstanding - basic (in shares)	37,710,214	38,741,486	37,875,108	38,672,902
Weighted-average common shares outstanding - diluted (in shares)	37,710,214	38,741,486	37,875,108	38,672,902
Loan servicing and systems
Other income/expense:
Revenue	$ 124,873	$ 112,094	$ 261,241	$ 223,611
Education technology, services, and payment processing
Other income/expense:
Revenue	$ 91,031	$ 76,702	$ 203,317	$ 171,960

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 82,904	$ 83,013	$ 267,789	$ 205,917
Other comprehensive (loss) income:
Net changes related to foreign currency translation adjustments	(8)	(1)	1	0
Net changes related to available-for-sale debt securities:
Unrealized holding (losses) gains arising during period, net	(33,822)	2,897	(50,520)	7,246
Reclassification of gains recognized in net income, net of losses	(849)	(371)	(3,642)	(879)
Income tax effect	8,321	(606)	12,999	(1,528)
Unrealized gains (losses) during period after reclassifications and tax	(26,350)	1,920	(41,163)	4,839
Other comprehensive (loss) income	(26,358)	1,919	(41,162)	4,839
Comprehensive income	56,546	84,932	226,627	210,756
Comprehensive loss attributable to noncontrolling interests	2,225	854	3,987	1,548
Comprehensive income attributable to Nelnet, Inc.	$ 58,771	$ 85,786	$ 230,614	$ 212,304

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preferred stock	Common stock Common Class A	Common stock Common Class B	Additional paid-in capital	Retained earnings	Accumulated other comprehensive (loss) earnings	Noncontrolling interests
Beginning balance (in shares) at Dec. 31, 2020		0	27,193,154	11,155,571
Beginning balance at Dec. 31, 2020	$ 2,628,349	$ 0	$ 272	$ 112	$ 3,794	$ 2,621,762	$ 6,102	$ (3,693)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	6,888							6,888
Net income (loss)	205,917					207,465		(1,548)
Other comprehensive income (loss)	4,839						4,839
Distribution to noncontrolling interests	(6,829)							(6,829)
Cash dividend on Class A and Class B common stock	(16,912)					(16,912)
Issuance of common stock, net of forfeitures (in shares)			231,955
Issuance of common stock, net of forfeitures	3,915		$ 2		3,913
Compensation expense for stock based awards	4,859				4,859
Repurchase of common stock (in shares)			(31,567)
Repurchase of common stock	(2,408)		$ 0		(2,408)	0
Conversion of common stock (in shares)			101,400	101,400
Conversion of common stock	0		$ 1	$ (1)
Ending balance (in shares) at Jun. 30, 2021		0	27,494,942	11,054,171
Ending balance at Jun. 30, 2021	2,828,618	$ 0	$ 275	$ 111	10,158	2,812,315	10,941	(5,182)
Beginning balance (in shares) at Mar. 31, 2021		0	27,367,797	11,154,171
Beginning balance at Mar. 31, 2021	2,749,101	$ 0	$ 274	$ 112	5,859	2,736,923	9,022	(3,089)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	5,488							5,488
Net income (loss)	83,013					83,867		(854)
Other comprehensive income (loss)	1,919						1,919
Distribution to noncontrolling interests	(6,727)							(6,727)
Cash dividend on Class A and Class B common stock	(8,475)					(8,475)
Issuance of common stock, net of forfeitures (in shares)			32,513
Issuance of common stock, net of forfeitures	1,824		$ 0		1,824
Compensation expense for stock based awards	2,874				2,874
Repurchase of common stock (in shares)			(5,368)
Repurchase of common stock	(399)				(399)	0
Conversion of common stock (in shares)			100,000	100,000
Conversion of common stock	0		$ 1	$ (1)
Ending balance (in shares) at Jun. 30, 2021		0	27,494,942	11,054,171
Ending balance at Jun. 30, 2021	2,828,618	$ 0	$ 275	$ 111	10,158	2,812,315	10,941	(5,182)
Beginning balance (in shares) at Dec. 31, 2021		0	27,239,654	10,676,642
Beginning balance at Dec. 31, 2021	2,952,838	$ 0	$ 272	$ 107	1,000	2,940,523	9,304	1,632
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	11,279							11,279
Net income (loss)	267,789					271,776		(3,987)
Other comprehensive income (loss)	(41,162)						(41,162)
Distribution to noncontrolling interests	(15,161)							(15,161)
Cash dividend on Class A and Class B common stock	(18,035)					(18,035)
Issuance of common stock, net of forfeitures (in shares)			310,639
Issuance of common stock, net of forfeitures	6,501		$ 3		6,498
Compensation expense for stock based awards	6,027				6,027
Repurchase of common stock (in shares)			(938,310)
Repurchase of common stock	(78,931)		$ (9)		(12,345)	(66,577)
Conversion of common stock (in shares)			1,750	1,750
Conversion of common stock	0
Ending balance (in shares) at Jun. 30, 2022		0	26,613,733	10,674,892
Ending balance at Jun. 30, 2022	3,091,145	$ 0	$ 266	$ 107	1,180	3,127,687	(31,858)	(6,237)
Beginning balance (in shares) at Mar. 31, 2022		0	27,151,270	10,674,892
Beginning balance at Mar. 31, 2022	3,085,063	$ 0	$ 272	$ 107	1,208	3,092,226	(5,500)	(3,250)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	9,275							9,275
Net income (loss)	82,904					85,129		(2,225)
Other comprehensive income (loss)	(26,358)						(26,358)
Distribution to noncontrolling interests	(10,037)							(10,037)
Cash dividend on Class A and Class B common stock	(8,973)					(8,973)
Issuance of common stock, net of forfeitures (in shares)			20,720
Issuance of common stock, net of forfeitures	2,116				2,116
Compensation expense for stock based awards	3,187				3,187
Repurchase of common stock (in shares)			(558,257)
Repurchase of common stock	(46,032)		$ (6)		(5,331)	(40,695)
Ending balance (in shares) at Jun. 30, 2022		0	26,613,733	10,674,892
Ending balance at Jun. 30, 2022	$ 3,091,145	$ 0	$ 266	$ 107	$ 1,180	$ 3,127,687	$ (31,858)	$ (6,237)

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Common Class A
Cash dividend on common stock (in dollars per share)	$ 0.24	$ 0.22	$ 0.48	$ 0.44
Common Class B
Cash dividend on common stock (in dollars per share)	$ 0.24	$ 0.22	$ 0.48	$ 0.44

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021
Net cash provided by operating activities:
Net income attributable to Nelnet, Inc.		$ 271,776	$ 207,465
Net loss attributable to noncontrolling interests		(3,987)	(1,548)
Net income		267,789	205,917
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, including debt discounts and loan premiums and deferred origination costs		74,080	76,754
Loan discount accretion		(19,554)	(14,606)
Provision (negative provision) for loan losses		8,974	(16,674)
Derivative market value adjustments		(186,135)	(37,194)
Proceeds from termination of derivative instruments, net		68,021	0
Proceeds from clearinghouse - initial and variation margin, net of payments		133,622	38,440
Gain on sale of loans		(2,989)	(15,271)
Loss on investments, net		3,207	812
(Gain) loss from repurchases of debt, net		(1,071)	695
Proceeds from sale (purchases) of equity securities, net		42,398	(19,764)
Deferred income tax expense		49,890	18,173
Non-cash compensation expense		6,171	4,980
Provision (negative provision) for beneficial interests and impairment expense, net		6,284	(1,936)
Decrease (increase) in loan and investment accrued interest receivable		184	(40,488)
Decrease (increase) in accounts receivable		44,786	(9,446)
(Increase) decrease in other assets, net		(8,015)	32,241
Decrease in the carrying amount of ROU asset, net		2,735	3,962
Increase (decrease) in accrued interest payable		8,397	(23,779)
Decrease in other liabilities, net		(12,200)	(13,663)
Decrease in the carrying amount of lease liability		(2,860)	(3,288)
Net cash provided by operating activities		483,714	185,865
Cash flows from investing activities:
Purchases and originations of loans		(396,486)	(1,040,573)
Purchases of loans from a related party		(7,675)	(20,847)
Net proceeds from loan repayments, claims, and capitalized interest		1,792,930	1,047,645
Proceeds from sale of loans		15,278	65,224
Purchases of available-for-sale securities		(735,140)	(363,485)
Proceeds from sales of available-for-sale securities		319,752	38,511
Proceeds from beneficial interest in loan securitizations		13,212	19,077
Purchases of other investments and issuance of notes receivable		(147,400)	(128,011)
Proceeds from other investments		23,955	167,821
Purchases of property and equipment		(34,152)	(28,784)
Business acquisition, net of cash acquired		(7,320)	0
Net cash provided by (used in) investing activities		836,954	(243,422)
Cash flows from financing activities:
Payments on bonds and notes payable		(1,695,697)	(1,073,523)
Proceeds from issuance of bonds and notes payable		159,931	1,114,821
Payments of debt issuance costs		(851)	(3,035)
Increase in bank deposits, net		244,159	148,208
Increase in due to customers		43,544	1,746
Dividends paid		(18,035)	(16,912)
Repurchases of common stock		(78,931)	(2,408)
Proceeds from issuance of common stock		801	689
Issuance of noncontrolling interests		5,142	7,480
Distribution to noncontrolling interests		(699)	(423)
Net cash (used in) provided by financing activities		(1,340,636)	176,643
Effect of exchange rate changes on cash		(179)	(108)
Net (decrease) increase in cash, cash equivalents, and restricted cash		(20,147)	118,978
Cash, cash equivalents, and restricted cash, beginning of period		1,194,189	958,395
Cash, cash equivalents, and restricted cash, end of period		1,174,042	1,077,373
Supplemental disclosures of cash flow information:
Cash disbursements made for interest		89,281	78,904
Cash disbursements made for income taxes, net of refunds and credits received	[1]	21,137	14,229
Cash disbursements made for operating leases		3,538	4,096
Non-cash operating, investing, and financing activity:
ROU assets obtained in exchange for lease obligations		746	823
Receipt of beneficial interest in consumer loan securitization		3,660	19,280
Distribution to noncontrolling interests		14,462	6,406
Issuance of noncontrolling interests		$ 6,137	$ 592
[1]The Company utilized $4.1 million and $22.0 million of federal and state tax credits related primarily to renewable energy during the six months ended June 30, 2022 and 2021, respectively.

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Statement of Cash Flows [Abstract]
Federal and state tax credit utilized	$ 4,100	$ 22,000
Cash and cash equivalents:
Total cash and cash equivalents	128,499	212,989
Restricted cash	754,693	616,711
Restricted cash - due to customers	290,850	247,673
Cash, cash equivalents, and restricted cash	$ 1,174,042	$ 1,077,373

Basis of Financial Reporting

Basis of Financial Reporting	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2021 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 ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of the results for the year ending December 31, 2022. 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, 2021 (the "2021 Annual Report"). Reclassification of Prior Period Cash Flows Presentation The line item in the Company's consolidated statements of cash flows for changes during a period in amounts "due to customers" was previously presented in cash flows from operating activities, and has been corrected for the periods presented in this report (including the prior year period) to be presented in cash flows from financing activities. This correction has no impact on the Company's previously reported consolidated net income, total assets (including cash and cash equivalents), liabilities, and equity, and while the correction has a corresponding impact on the amounts of cash flows from operating and financing activities, it has no impact on the net increase or decrease in cash for previously reported periods. The Company has concluded that the correction was not material from a combined quantitative and qualitative perspective to its previously issued interim financial statements for 2022, or its previously issued financial statements for 2021, 2020, and 2019.

Loans and Accrued Interest Rece

Loans and Accrued Interest Receivable and Allowance for Loan Losses	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Loans and Accrued Interest Receivable and Allowance for Loan Losses	Loans and Accrued Interest Receivable and Allowance for Loan Losses Loans and accrued interest receivable consisted of the following: As of As of June 30, 2022 December 31, 2021 Non-Nelnet Bank: Federally insured student loans: Stafford and other $ 3,548,901 3,904,000 Consolidation 11,880,710 13,187,047 Total 15,429,611 17,091,047 Private education loans 272,943 299,442 Consumer and other loans 152,583 51,301 Non-Nelnet Bank loans 15,855,137 17,441,790 Nelnet Bank: Federally insured student loans 77,428 88,011 Private education loans 346,125 169,890 Nelnet Bank loans 423,553 257,901 Accrued interest receivable 780,691 788,552 Loan discount, net of unamortized loan premiums and deferred origination costs (22,613) (25,933) Allowance for loan losses: Non-Nelnet Bank: Federally insured loans (92,593) (103,381) Private education loans (15,253) (16,143) Consumer and other loans (10,576) (6,481) Non-Nelnet Bank allowance for loan losses (118,422) (126,005) Nelnet Bank: Federally insured loans (258) (268) Private education loans (1,744) (840) Nelnet Bank allowance for loan losses (2,002) (1,108) $ 16,916,344 18,335,197 The following table summarizes the allowance for loan losses as a percentage of the ending loan balance for each of the Company's loan portfolios. As of As of June 30, 2022 December 31, 2021 Non-Nelnet Bank: Federally insured student loans (a) 0.60 % 0.60 % Private education loans 5.59 % 5.39 % Consumer and other loans (b) 6.93 % 12.63 % Nelnet Bank: Federally insured student loans (a) 0.33 % 0.30 % Private education loans 0.50 % 0.49 % (a) As of June 30, 2022 and December 31, 2021, the allowance for loan losses as a percent of the risk sharing component of federally insured student loans not covered by the federal guaranty for non-Nelnet Bank was 21.8% and 22.2%, respectively, and for Nelnet Bank was 13.2% and 12.1%, respectively. (b) During the second quarter of 2022, the Company purchased home equity loans that generally have lower default rates than unsecured consumer loans. As such, the allowance for loan losses as a percentage of the ending loan balance has decreased as of June 30, 2022 as compared to December 31, 2021. Gain on Sale of Loans On January 26, 2022, the Company sold $18.1 million (par value) of consumer loans to an unrelated third party who securitized such loans. The Company recognized a gain of $3.0 million (pre-tax) as part of this transaction. As partial consideration received for the consumer loans sold, the Company received a 6.6 percent residual interest in the consumer loan securitization, which is included in "investments and notes receivable" on the Company's consolidated balance sheet. Activity in the Allowance for Loan Losses The following table presents the activity in the allowance for loan losses by portfolio segment. Balance at beginning of period Provision (negative provision) for loan losses Charge-offs Recoveries Initial allowance on loans purchased with credit deterioration (a) Loan sales Balance at end of period Three months ended June 30, 2022 Non-Nelnet Bank: Federally insured loans $ 95,995 2,365 (5,788) — 21 — 92,593 Private education loans 14,622 1,217 (707) 118 — 3 15,253 Consumer and other loans 5,710 5,245 (531) 152 — — 10,576 Nelnet Bank: Federally insured loans 247 13 (2) — — — 258 Private education loans 1,251 569 (73) — — (3) 1,744 $ 117,825 9,409 (7,101) 270 21 — 120,424 Three months ended June 30, 2021 Non-Nelnet Bank: Federally insured loans $ 121,846 (397) (1,172) — 525 — 120,802 Private education loans 20,670 (1,004) (403) 139 — 1 19,403 Consumer and other loans 14,134 1,706 (1,464) 235 — (9,909) 4,702 Nelnet Bank: Federally insured loans — 245 — — — — 245 Private education loans 744 (176) — — — (1) 567 $ 157,394 374 (3,039) 374 525 (9,909) 145,719 Six months ended June 30, 2022 Non-Nelnet Bank Federally insured loans $ 103,381 (383) (10,549) — 144 — 92,593 Private education loans 16,143 817 (2,006) 295 — 4 15,253 Consumer and other loans 6,481 7,529 (1,469) 319 — (2,284) 10,576 Nelnet Bank Federally insured loans 268 (8) (2) — — — 258 Private education loans 840 995 (87) — — (4) 1,744 $ 127,113 8,950 (14,113) 614 144 (2,284) 120,424 Six months ended June 30, 2021 Non-Nelnet Bank Federally insured loans $ 128,590 (7,880) (1,233) — 1,325 — 120,802 Private education loans 19,529 427 (896) 341 — 2 19,403 Consumer and other loans 27,256 (9,712) (3,414) 481 — (9,909) 4,702 Nelnet Bank Federally insured loans — 245 — — — — 245 Private education loans 323 246 — — — (2) 567 $ 175,698 (16,674) (5,543) 822 1,325 (9,909) 145,719 (a) During the three months ended June 30, 2022 and 2021, and six months ended June 30, 2022 and 2021, the Company acquired $1.6 million (par value), $34.7 million (par value), $10.8 million (par value), and $88.7 million (par value), respectively, of federally insured rehabilitation loans that met the definition of purchased loans with credit deterioration ("PCD loans") when they were purchased by the Company. The Company recorded a negative provision for loan losses for its federally insured loan portfolio for the three months ended March 31, 2022 due to the amortization of the portfolio and an increase in expected prepayments as a result of an initiative offered by the Department of Education (the “Department”) for Federal Family Education Loan Program ("FFELP" or "FFEL Program") borrowers to consolidate their loans into Federal Direct Loan Program loans with the Department by October 31, 2022 to qualify for loan forgiveness under the Public Service Loan Forgiveness program. The Company recorded a provision for loan losses on its consumer loan portfolio during the three months ended March 31, 2022 as a result of loans acquired during the period. The Company recorded a provision for loan losses for its federally insured, private education, consumer, and other loan portfolios for the three months ended June 30, 2022 due to management's estimate of worsening economic conditions as of June 30, 2022 in comparison to management's estimate of economic conditions used to determine the allowance for loan losses as of March 31, 2022. In addition, the Company recorded provision for loan losses on its consumer and other loan portfolio during the three months ended June 30, 2022 as a result of loans acquired during the period. The provision for loan losses recognized by the Company for its federally insured loan portfolio during the three months ended June 30, 2022 was partially offset due to the continued amortization of the portfolio and an increase in the estimate of prepayments as of June 30, 2022 in comparison to management's estimate used to determine the allowance for loan losses as of March 31, 2022. Unfunded Private Education Loan Commitments As of June 30, 2022, Nelnet Bank has a liability of approximately $36,000 related to $3.0 million of unfunded private education loan commitments. The liability for unfunded loan commitments is included in "other liabilities" on the consolidated balance sheet. During the six months ended June 30, 2022, Nelnet Bank recognized provision for loan losses of approximately $24,000 related to unfunded loan commitments. Key Credit Quality Indicators Loan Status and Delinquencies Key credit quality indicators for the Company's federally insured, private education, consumer, and other loan portfolios are loan status, including delinquencies. The impact of changes in loan status is incorporated into the allowance for loan losses calculation. 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 status and delinquency amounts. As of June 30, 2022 As of December 31, 2021 As of June 30, 2021 Federally insured loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 763,957 4.9 % $ 829,624 4.9 % $ 955,227 5.0 % Loans in forbearance 1,246,882 8.1 1,118,667 6.5 2,079,368 11.0 Loans in repayment status: Loans current 11,551,817 86.1 % 12,847,685 84.9 % 13,995,297 88.0 % Loans delinquent 31-60 days 464,234 3.5 895,656 5.9 580,602 3.7 Loans delinquent 61-90 days 309,252 2.3 352,449 2.3 262,353 1.6 Loans delinquent 91-120 days 187,452 1.4 251,075 1.7 104,124 0.7 Loans delinquent 121-270 days 638,189 4.7 592,449 3.9 398,965 2.5 Loans delinquent 271 days or greater 267,828 2.0 203,442 1.3 562,928 3.5 Total loans in repayment 13,418,772 87.0 100.0 % 15,142,756 88.6 100.0 % 15,904,269 84.0 100.0 % Total federally insured loans 15,429,611 100.0 % 17,091,047 100.0 % 18,938,864 100.0 % Accrued interest receivable 775,337 784,716 830,973 Loan discount, net of unamortized premiums and deferred origination costs (26,674) (28,309) (24,129) Allowance for loan losses (92,593) (103,381) (120,802) Total federally insured loans and accrued interest receivable, net of allowance for loan losses $ 16,085,681 $ 17,744,073 $ 19,624,906 Private education loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 15,403 5.6 % $ 9,661 3.2 % $ 10,195 2.9 % Loans in forbearance 2,447 0.9 3,601 1.2 3,884 1.1 Loans in repayment status: Loans current 250,268 98.1 % 280,457 98.0 % 330,097 98.3 % Loans delinquent 31-60 days 1,980 0.8 2,403 0.8 3,962 1.2 Loans delinquent 61-90 days 782 0.3 976 0.3 818 0.2 Loans delinquent 91 days or greater 2,063 0.8 2,344 0.9 1,138 0.3 Total loans in repayment 255,093 93.5 100.0 % 286,180 95.6 100.0 % 336,015 96.0 100.0 % Total private education loans 272,943 100.0 % 299,442 100.0 % 350,094 100.0 % Accrued interest receivable 2,058 1,960 2,360 Loan premium, net of unamortized discount 94 (1,123) (1,547) Allowance for loan losses (15,253) (16,143) (19,403) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 259,842 $ 284,136 $ 331,504 As of June 30, 2022 As of December 31, 2021 As of June 30, 2021 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ 64 0.0 % $ 43 0.1 % $ 38 0.1 % Loans in repayment status: Loans current 150,812 98.9 % 49,697 97.0 % 41,039 96.1 % Loans delinquent 31-60 days 515 0.3 414 0.8 387 0.9 Loans delinquent 61-90 days 435 0.3 322 0.6 484 1.1 Loans delinquent 91 days or greater 757 0.5 825 1.6 819 1.9 Total loans in repayment 152,519 100.0 100.0 % 51,258 99.9 100.0 % 42,729 99.9 % 100.0 % Total consumer and other loans 152,583 100.0 % 51,301 100.0 % 42,767 100.0 % Accrued interest receivable 1,376 396 328 Loan discount, net of unamortized premiums (1,965) 913 377 Allowance for loan losses (10,576) (6,481) (4,702) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 141,418 $ 46,129 $ 38,770 Federally insured loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 283 0.4 % $ 330 0.4 % $ 103 0.1 % Loans in forbearance 1,029 1.3 1,057 1.2 1,026 1.1 Loans in repayment status: Loans current 74,883 98.4 % 85,599 98.8 % 95,402 99.3 % Loans delinquent 30-59 days 587 0.8 816 1.0 593 0.6 Loans delinquent 60-89 days 165 0.2 — — 43 0.1 Loans delinquent 90-119 days 245 0.3 — — — — Loans delinquent 120-270 days 236 0.3 209 0.2 — — Loans delinquent 271 days or greater — — — — — — Total loans in repayment 76,116 98.3 100.0 % 86,624 98.4 100.0 % 96,038 98.8 100.0 % Total federally insured loans 77,428 100.0 % 88,011 100.0 % 97,167 100.0 % Accrued interest receivable 1,381 1,216 1,179 Loan premium 23 26 29 Allowance for loan losses (258) (268) (245) Total federally insured loans and accrued interest receivable, net of allowance for loan losses $ 78,574 $ 88,985 $ 98,130 Private education loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 1,160 0.3 % $ 150 0.1 % $ 82 0.1 % Loans in forbearance 1,236 0.4 460 0.3 133 0.1 Loans in repayment status: Loans current 343,148 99.8 % 169,157 99.9 % 93,189 100.0 % Loans delinquent 30-59 days 169 0.1 51 — — — Loans delinquent 60-89 days 412 0.1 — — — — Loans delinquent 90 days or greater — — 72 0.1 — — Total loans in repayment 343,729 99.3 100.0 % 169,280 99.6 100.0 % 93,189 99.8 100.0 % Total private education loans 346,125 100.0 % 169,890 100.0 % 93,404 100.0 % Accrued interest receivable 539 264 149 Deferred origination costs 5,909 2,560 1,374 Allowance for loan losses (1,744) (840) (567) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 350,829 $ 171,874 $ 94,360 (a) For the periods presented for Nelnet Bank, the delinquency bucket periods conform with the delinquency bucket periods reflected in Nelnet Bank's Call Reports filed with the Federal Deposit Insurance Corporation. FICO Scores - Nelnet Bank Private Education Loans An additional key credit quality indicator for Nelnet Bank private education loans is FICO scores at the time of origination. The following tables highlight the gross principal balance of Nelnet Bank's private education loan portfolio, by year of origination, stratified by FICO score at the time of origination. Loan balance as of June 30, 2022 Six months ended June 30, 2022 2021 2020 Total FICO at origination: Less than 705 $ 4,042 5,627 95 9,764 705 - 734 18,060 10,959 264 29,283 735 - 764 31,516 17,165 1,007 49,688 765 - 794 54,493 33,080 1,353 88,926 Greater than 794 85,571 76,274 6,619 168,464 $ 193,682 143,105 9,338 346,125 Loan balance as of December 31, 2021 2021 2020 Total FICO at origination: Less than 705 $ 6,481 100 6,581 705 - 734 11,697 276 11,973 735 - 764 18,611 1,072 19,683 765 - 794 36,274 1,467 37,741 Greater than 794 86,141 7,771 93,912 $ 159,204 10,686 169,890 Nonaccrual Status The Company does not place federally insured loans on nonaccrual status due to the government guaranty. The amortized cost of private education, consumer, and other loans on nonaccrual status, as well as the allowance for loan losses related to such loans, as of December 31, 2021 and June 30, 2022, was not material. Amortized Cost Basis by Origination Year The following table presents the amortized cost of the Company's private education, consumer, and other loans by loan status and delinquency amount as of June 30, 2022 based on year of origination. Effective July 1, 2010, no new loan originations can be made under the FFEL Program and all new federal loan originations must be made under the Federal Direct Loan Program. As such, all the Company’s federally insured loans were originated prior to July 1, 2010. Six months ended June 30, 2022 2021 2020 2019 2018 Prior years Total Private education loans - Non-Nelnet Bank: Loans in school/grace/deferment $ 1,601 7,311 1,784 3,093 — 1,614 15,403 Loans in forbearance — — 368 632 47 1,400 2,447 Loans in repayment status: Loans current 3,947 3,071 57,126 44,044 410 141,670 250,268 Loans delinquent 31-60 days — — 104 421 — 1,455 1,980 Loans delinquent 61-90 days — 20 52 — — 710 782 Loans delinquent 91 days or greater — 7 111 79 — 1,866 2,063 Total loans in repayment 3,947 3,098 57,393 44,544 410 145,701 255,093 Total private education loans $ 5,548 10,409 59,545 48,269 457 148,715 272,943 Accrued interest receivable 2,058 Loan premium, net of unamortized discount 94 Allowance for loan losses (15,253) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 259,842 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ 16 38 — — 10 — 64 Loans in repayment status: Loans current 101,890 40,772 1,865 3,118 3,130 37 150,812 Loans delinquent 31-60 days 163 219 26 60 44 3 515 Loans delinquent 61-90 days 151 194 14 46 30 — 435 Loans delinquent 91 days or greater 68 119 16 196 358 — 757 Total loans in repayment 102,272 41,304 1,921 3,420 3,562 40 152,519 Total consumer and other loans $ 102,288 41,342 1,921 3,420 3,572 40 152,583 Accrued interest receivable 1,376 Loan discount, net of unamortized premiums (1,965) Allowance for loan losses (10,576) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 141,418 Private education loans - Nelnet Bank (a): Loans in school/grace/deferment $ 863 297 — — — — 1,160 Loans in forbearance 665 440 131 — — — 1,236 Loans in repayment status: Loans current 192,101 141,840 9,207 — — — 343,148 Loans delinquent 30-59 days — 169 — — — — 169 Loans delinquent 60-89 days 53 359 — — — — 412 Loans delinquent 90 days or greater — — — — — — — Total loans in repayment 192,154 142,368 9,207 — — — 343,729 Total private education loans $ 193,682 143,105 9,338 — — — 346,125 Accrued interest receivable 539 Deferred origination costs 5,909 Allowance for loan losses (1,744) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 350,829 (a) For the periods presented for Nelnet Bank, the delinquency bucket periods conform with the delinquency bucket periods reflected in Nelnet Bank's Call Reports filed with the Federal Deposit Insurance Corporation.

Bonds and Notes Payable

Bonds and Notes Payable	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 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 $ 14,323,434 1.22% - 3.62% 2/27/28 - 9/25/69 Bonds and notes based on auction 221,385 0.00% - 2.30% 3/32/32 - 8/27/46 Total FFELP variable-rate bonds and notes 14,544,819 Fixed-rate bonds and notes issued in FFELP loan asset-backed securitizations 703,600 1.42% - 3.45% 10/25/67 - 8/27/68 FFELP loan warehouse facility 4,618 1.64% 11/22/23 Private education loan warehouse facility 89,466 1.71% 10/31/23 Variable-rate bonds and notes issued in private education loan asset-backed securitizations 24,737 3.10% / 3.37% 12/26/40 / 6/25/49 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 25,200 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit — — 9/22/26 Participation agreement 393,480 2.41% 5/4/23 Repurchase agreements 500,690 0.97% - 2.81% 8/8/22 - 11/27/24 16,286,610 Discount on bonds and notes payable and debt issuance costs (171,341) Total $ 16,115,269 As of December 31, 2021 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 $ 15,887,295 0.23% - 2.10% 5/27/25 - 9/25/69 Bonds and notes based on auction 248,550 0.00% - 1.09% 3/22/32 - 8/27/46 Total FFELP variable-rate bonds and notes 16,135,845 Fixed-rate bonds and notes issued in FFELP loan asset-backed securitizations 772,935 1.42% - 3.45% 10/25/67 - 8/27/68 FFELP loan warehouse facility 5,048 0.21% 5/22/23 Private education loan warehouse facility 107,011 0.24% 2/13/23 Variable-rate bonds and notes issued in private education loan asset-backed securitizations 31,818 1.65% / 1.85% 12/26/40 / 6/25/49 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 28,613 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit — — 9/22/26 Participation agreement 253,969 0.78% 5/4/22 Repurchase agreements 483,848 0.66% - 1.46% 5/27/22 - 12/20/23 Secured line of credit 5,000 1.91% 5/30/22 17,824,087 Discount on bonds and notes payable and debt issuance costs (192,998) Total $ 17,631,089 Warehouse Facilities The Company funds a portion of its loan acquisitions using warehouse facilities. Loan warehousing allows the Company to buy and manage loans prior to transferring them into more permanent financing arrangements. FFELP loan warehouse facility As of June 30, 2022, the Company’s FFELP warehouse facility had an aggregate maximum financing amount available of $25.0 million that was reduced from $60.0 million per a May 23, 2022 amendment to the facility. The May 2022 amendment also extended the liquidity provisions and final maturity to November 22, 2022 and November 22, 2023, respectively. As of June 30, 2022, $4.6 million was outstanding under this facility, $20.4 million was available for future funding, and the Company had $0.3 million advanced as equity support. Private education loan warehouse facility As of June 30, 2022, the Company's private education warehouse facility had an aggregate maximum financing amount available of $175.0 million and an advance rate of 80 to 90 percent. On June 30, 2022, the Company amended the facility to extend the liquidity provisions through October 31, 2022 and final maturity date to October 31, 2023. As of June 30, 2022, $89.5 million was outstanding under this warehouse facility, $85.5 million was available for future funding, and the Company had $10.1 million advanced as equity support. Unsecured Line of Credit The Company has a $495.0 million unsecured line of credit that has a maturity date of September 22, 2026. As of June 30, 2022, no amount was outstanding on the line of credit and $495.0 million was available for future use. The line of credit provides that the Company may increase the aggregate financing commitments, through the existing lenders and/or through new lenders, up to a total of $737.5 million, subject to certain conditions. Participation Agreement The Company has an agreement with Union Bank and Trust Company ("Union Bank"), a related party, as trustee for various grantor trusts, under which Union Bank has agreed to purchase from the Company participation interests in FFELP loan asset-backed securities. As of June 30, 2022, $393.4 million of FFELP loan asset-backed securities were subject to outstanding participation interests held by Union Bank, as trustee, under this agreement. The agreement automatically renews annually and is terminable by either party upon five See note 5 for additional information about the FFELP loan asset-backed securities investments serving as collateral under this participation agreement. Repurchase Agreements On May 3, 2021 and June 23, 2021, the Company entered into repurchase agreements with non-affiliated third parties, the proceeds of which are collateralized by certain private education and FFELP loan asset-backed securities. The first agreement has various maturity dates through November 27, 2024 or earlier if either party provides 180 days’ prior written notice, and the second agreement has various maturity dates through January 13, 2023. Included in “bonds and notes payable” as of June 30, 2022 was $228.5 million subject to the first agreement and $272.2 million subject to the second agreement. See note 5 and below under "Debt Repurchases" for additional information about the private education and FFELP loan asset-backed securities investments, respectively, serving as collateral for these repurchase agreements. Accrued Interest Liability During the first quarter of 2021, the Company reversed a historical accrued interest liability of $23.8 million on certain bonds, which liability the Company determined was no longer probable of being required to be paid. The liability was initially recorded when certain asset-backed securitizations were acquired in 2011 and 2013. The reduction of this liability is reflected in (a reduction of) "interest expense on bonds and notes payable and bank deposits" in the consolidated statements of income. Debt Repurchases During the three and six months ended June 30, 2022, the Company repurchased $36.7 million and $55.2 million, respectively, of its own debt and recognized gains of $1.0 million and $1.1 million, respectively. During the second quarter of 2021, the Company repurchased $19.8 million of its own debt and recognized a loss of $0.7 million. The Company has repurchased certain of its own asset-backed securities (bonds and notes payable) in the secondary market. For accounting purposes, these notes are eliminated in consolidation and are not included in the Company's consolidated financial statements. However, these securities remain legally outstanding at the trust level and the Company could sell these notes to third parties or redeem the notes at par as cash is generated by the trust estate. Upon a sale of these notes to third parties, the Company would obtain cash proceeds equal to the market value of the notes on the date of such sale. As of June 30, 2022, the Company holds $431.2 million (par value) of its own FFELP asset-backed securities. As of June 30, 2022, $206.9 million (par value) of the Company's repurchased FFELP loan asset-backed securities were serving as collateral on amounts outstanding under the Company's repurchase agreements (as discussed above).

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The Company uses derivative financial instruments to manage interest rate risk. Derivative instruments used as part of the Company's interest rate risk management strategy are further described in note 6 of the notes to consolidated financial statements included in the 2021 Annual Report. A tabular presentation of such derivatives outstanding as of June 30, 2022 and December 31, 2021 is presented below. Basis Swaps The following table summarizes the Company’s outstanding basis swaps as of June 30, 2022 and December 31, 2021, 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"). Maturity Notional amount As of As of June 30, 2022 December 31, 2021 2022 $ 1,000,000 2,000,000 2023 750,000 750,000 2024 1,750,000 1,750,000 2026 1,150,000 1,150,000 2027 250,000 250,000 $ 4,900,000 5,900,000 The weighted average rate paid by the Company on the 1:3 Basis Swaps as of June 30, 2022 and December 31, 2021 was one-month LIBOR plus 9.4 basis points and 9.1 basis points, respectively. Interest Rate Swaps – Floor Income Hedges The following table summarizes the outstanding derivative instruments used by the Company to economically hedge loans earning fixed rate floor income. As of June 30, 2022 As of December 31, 2021 Maturity Notional amount Weighted average fixed rate paid by the Company (a) Notional amount Weighted average fixed rate paid by the Company (a) 2022 $ — — % $ 500,000 0.94 % 2023 250,000 0.32 900,000 0.62 2024 2,250,000 0.35 2,500,000 0.35 2025 — — 500,000 0.35 2026 500,000 1.02 500,000 1.02 2031 100,000 1.53 100,000 1.53 $ 3,100,000 0.49 % $ 5,000,000 0.55 % (a) For all interest rate derivatives, the Company receives discrete three-month LIBOR. In March 2022, the Company terminated $650 million in notional amount of derivatives ($500 million and $150 million that had maturity dates in 2022 and 2023, respectively) for net payments of $0.1 million. On April 29, 2022, the Company terminated $1.25 billion in notional amount of derivatives ($500 million, $250 million, and $500 million that had maturity dates in 2023, 2024, and 2025, respectively) for total proceeds of $68.1 million. Consolidated Financial Statement Impact Related to Derivatives - Statements of Income The following table summarizes the components of "derivative market value adjustments and derivative settlements, net" included in the consolidated statements of income. Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Settlements: 1:3 basis swaps $ 931 (221) 1,327 (240) Interest rate swaps - floor income hedges 3,692 (5,153) 487 (9,438) Total settlements - income (expense) 4,623 (5,374) 1,814 (9,678) Change in fair value: 1:3 basis swaps (148) (1,106) 741 1,693 Interest rate swaps - floor income hedges 40,549 (509) 185,394 35,501 Total change in fair value - income (expense) 40,401 (1,615) 186,135 37,194 Derivative market value adjustments and derivative settlements, net - income (expense) $ 45,024 (6,989) 187,949 27,516

Investments and Notes Receivabl

Investments and Notes Receivable	6 Months Ended
	Jun. 30, 2022
Investments [Abstract]
Investments and Notes Receivable	Investments and Notes Receivable A summary of the Company's investments and notes receivable follows: As of June 30, 2022 As of December 31, 2021 Amortized cost Gross unrealized gains Gross unrealized losses (a) Fair value Amortized cost Gross unrealized gains Gross unrealized losses Fair value Investments (at fair value): FFELP loan asset-backed securities- available-for-sale (b) $ 821,154 4,509 (16,028) 809,635 480,691 14,710 (719) 494,682 Private education loan asset-backed securities - available-for-sale (c) 366,602 — (28,161) 338,441 414,286 507 (2,241) 412,552 Other debt securities - available-for-sale 148,686 24 (2,249) 146,461 22,435 — — 22,435 Total available-for-sale debt securities $ 1,336,442 4,533 (46,438) 1,294,537 917,412 15,217 (2,960) 929,669 Equity securities 36,945 71,986 Total investments (at fair value) 1,331,482 1,001,655 Other Investments (not measured at fair value): Other debt securities - held-to-maturity 8,200 8,200 Venture capital and funds: Measurement alternative 159,332 157,609 Equity method 82,147 67,840 Total venture capital and funds 241,479 225,449 Real estate: Equity method 57,532 47,226 Notes receivable 5,069 — Total real estate 62,601 47,226 Investment in ALLO: Voting interest/equity method (d) 91,832 87,247 Preferred membership interest and accrued and unpaid preferred return (e) 141,599 137,342 Total investment in ALLO 233,431 224,589 Beneficial interest in loan securitizations (f): Private education loans, including accrued interest 77,308 66,008 Consumer loans 26,197 28,366 Federally insured student loans 24,300 25,768 Total beneficial interest in loan securitizations 127,805 120,142 Solar (g) (54,499) (42,457) Notes receivable 33,012 — Tax liens, affordable housing, and other 4,939 4,115 Total investments (not measured at fair value) 656,968 587,264 Total investments and notes receivable $ 1,988,450 $ 1,588,919 (a) As of June 30, 2022, the aggregate fair value of available-for-sale debt securities with unrealized losses was $1.1 billion. The Company currently has the intent and ability to retain these investments, and none of the unrealized losses were due to credit losses. (b) As of June 30, 2022, $393.4 million (par value) of FFELP loan asset-backed securities were subject to participation interests held by Union Bank, as discussed in note 3 under "Participation Agreement." (c) The Company's private education loan asset-backed securities portfolio is subject to repurchase agreements with third parties, as discussed in note 3 under “Repurchase Agreements.” (d) On February 25, 2022, the Company contributed $34.7 million of additional equity to ALLO Holdings LLC, a holding company for ALLO Communications LLC (collectively referred to as "ALLO"). As a result of this equity contribution, the Company's voting membership interests percentage in ALLO did not materially change. The Company accounts for its voting membership interests in ALLO under the Hypothetical Liquidation at Book Value ("HLBV") method of accounting. During the three months ended June 30, 2022 and 2021, the Company recognized a pre-tax loss of $16.9 million and income of $1.1 million, respectively, under the HLBV method of accounting on its ALLO voting membership interests investment, and during the six months ended June 30, 2022 and 2021, the Company recognized pre-tax losses of $30.1 million and $21.1 million, respectively. Income and losses from the Company's investment in ALLO are included in "other" in "other income/expense" on the consolidated statements of income. In the second quarter of 2021, the Company revised its accounting policy to correct for an error in its method of applying the HLBV method of accounting for its investment in ALLO. Prior to the second quarter of 2021, the Company calculated Nelnet’s liquidation basis in ALLO under the HLBV method by using Nelnet’s proportionate share of tax losses and amortizing any basis difference using tax methods. The Company determined that Nelnet’s liquidation basis in ALLO under the HLBV method should equal ALLO’s GAAP losses and amortization of any basis difference should use book lives. During the second quarter of 2021, the Company recorded an adjustment to reflect the cumulative net impact on prior periods (since the deconsolidation of ALLO on December 21, 2020) for the correction of this error that resulted in a $14.0 million increase to the Company’s ALLO investment balance and a corresponding pre-tax increase to other income. The Company concluded this error had an immaterial impact on 2021 results as well as the results for prior periods. (e) As of June 30, 2022, the outstanding preferred membership interests and accrued and unpaid preferred return of ALLO held by the Company was $137.3 million and $4.3 million, respectively. The preferred membership interests of ALLO held by the Company earn a preferred annual return of 6.25 percent. The Company recognized pre-tax income on its ALLO preferred membership interests of $2.1 million and $2.0 million during the three months ended June 30, 2022 and 2021, respectively, and $4.3 million during both the six months ended June 30, 2022 and 2021. This income is included in "other" in "other income/expense" on the consolidated statements of income. (f) The Company has partial ownership in certain private education, consumer, and federally insured student loan securitizations. As of the latest remittance reports filed by the various trusts prior to or as of June 30, 2022, the Company's ownership correlates to approximately $650 million, $160 million, and $430 million of private education, consumer, and federally insured student loans, respectively, included in these securitizations. (g) As of June 30, 2022, the Company has funded a total of $241.3 million in solar investments, which includes $71.4 million funded by syndication partners. The carrying value of the Company’s solar investments are reduced by tax credits earned when the solar project is placed in service. The solar investment balance at June 30, 2022 represents the sum of total tax credits earned on solar projects placed in service through June 30, 2022 and the calculated HLBV net losses being larger than total payments made by the Company on such projects. As of June 30, 2022, the Company is committed to fund an additional $51.9 million on these projects, of which $43.1 million will be provided by syndication partners. The Company accounts for its solar investments using the HLBV method of accounting. For the majority of the Company’s solar investments, the HLBV method of accounting results in accelerated losses in the initial years of investment. The Company recognized pre-tax losses on its solar investments of $1.9 million and $2.3 million during the three months ended June 30, 2022 and 2021, respectively, and $2.9 million and $4.0 million during the six months ended June 30, 2022 and 2021, respectively. These losses are included in “other” in "other income/expense" on the consolidated statements of income. Losses from solar investments include losses attributable to third-party minority interest investors (syndication partners) that are included in “net loss attributable to noncontrolling interests” in the consolidated statements of income. Solar losses attributed to minority investors was $2.0 million and $0.6 million for the three months ended June 30, 2022 and 2021, respectively, and $3.8 million and $1.9 million for the six months ended June 30, 2022 and 2021, respectively. Impairment Expense During the second quarter of 2022, the Company recorded an impairment charge of $5.4 million related primarily to one of its venture capital investments accounted for under the measurement alternative method. The impairment expense is included in "impairment expense and provision for beneficial interests, net" on the consolidated statements of income.

Business Combination

Business Combination	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Business Combination	Business Combination NGWeb Solutions, LLC On April 30, 2022, the Company acquired 30 percent of the ownership interests of NGWeb Solutions, LLC ("NextGen") for total cash consideration of $9.2 million. NextGen provides software solutions primarily to higher education institutions to enable administrators to efficiently manage online forms, scholarships, employment, online timesheets, and other specialized processes that require signed authorizations and interactions with student information. Prior to the acquisition, the Company owned 50 percent of the ownership interests of NextGen and accounted for this investment under the equity method. As a result of the acquisition, the previously held 50 percent ownership interests was remeasured to its fair value as of the April 30, 2022 date of acquisition of the additional 30 percent of the ownership interests, resulting in a $15.2 million revaluation gain, which is included in "other" in "other income/expense" on the consolidated statements of income. For segment reporting, this gain is included in "Corporate and Other Activities." Subsequent to the acquisition, the Company will consolidate the operating results of NextGen and such results will be included in the Education Technology, Services, and Payment Processing reportable segment. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. The fair values of the assets and liabilities related to NextGen are subject to refinement as the Company completes its analysis relative to the fair values at the date of acquisition. Cash and cash equivalents $ 1,885 Accounts receivable 1,315 Property and equipment 800 Other assets 201 Intangible assets 23,395 Excess cost over fair value of net assets acquired (goodwill) 7,025 Other liabilities (3,937) Net assets acquired 30,684 Minority interest (6,137) Remeasurement of previously held investment (15,342) Total consideration paid by the Company $ 9,205 The $23.4 million of acquired intangible assets is made up of computer software of $18.8 million (5-year useful life) and customer relationships of $4.6 million (7-year useful life).

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following: Weighted average remaining useful life as of June 30, 2022 (months) As of As of June 30, 2022 December 31, 2021 Amortizable intangible assets, net: Customer relationships (net of accumulated amortization of $47,328 and $97,398, respectively) 96 $ 48,552 47,894 Computer software (net of accumulated amortization of $3,411 and $3,669, respectively) 52 21,534 4,135 Total - amortizable intangible assets, net 82 $ 70,086 52,029 The Company recorded amortization expense on its intangible assets of $2.9 million and $8.3 million during the three months ended June 30, 2022 and 2021, respectively, and $5.3 million and $16.6 million during the six months ended June 30, 2022 and 2021, respectively. The Company will continue to amortize intangible assets over their remaining useful lives. As of June 30, 2022, the Company estimates it will record amortization expense as follows: 2022 (July 1 - December 31) $ 7,176 2023 14,243 2024 11,870 2025 9,057 2026 8,930 2027 and thereafter 18,810 $ 70,086

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2022
Goodwill [Abstract]
Goodwill	Goodwill The carrying amount of goodwill by reportable operating segment was as follows: Loan Servicing and Systems Education Technology, Services, and Payment Processing Asset Generation and Management Nelnet Bank Corporate and Other Activities Total Balance as of December 31, 2021 and March 31, 2022 $ 23,639 76,570 41,883 — — 142,092 Goodwill acquired — 7,025 — — — 7,025 Balance as of June 30, 2022 $ 23,639 83,595 41,883 — — 149,117

Earnings per Common Share

Earnings per Common Share	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 2021 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 83,485 1,644 85,129 82,479 1,388 83,867 Denominator: Weighted-average common shares outstanding - basic and diluted 36,981,990 728,224 37,710,214 38,100,092 641,394 38,741,486 Earnings per share - basic and diluted $ 2.26 2.26 2.26 2.16 2.16 2.16 Six months ended June 30, 2022 2021 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 266,735 5,041 271,776 204,209 3,256 207,465 Denominator: Weighted-average common shares outstanding - basic and diluted 37,172,606 702,502 37,875,108 38,065,869 607,033 38,672,902 Earnings per share - basic and diluted $ 7.18 7.18 7.18 5.36 5.36 5.36

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting See note 15 of the notes to consolidated financial statements included in the 2021 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 June 30, 2022 Loan Servicing and Systems Education Technology, Services, and Payment Processing Asset Nelnet Bank Corporate and Other Activities Eliminations Total Total interest income $ 246 874 140,396 5,212 6,235 (1,376) 151,587 Interest expense 20 — 69,708 1,639 3,652 (1,376) 73,642 Net interest income 226 874 70,688 3,573 2,583 — 77,945 Less provision (negative provision) for loan losses — — 8,827 582 — — 9,409 Net interest income after provision for loan losses 226 874 61,861 2,991 2,583 — 68,536 Other income/expense: Loan servicing and systems revenue 124,873 — — — — — 124,873 Intersegment revenue 8,381 7 — — — (8,388) — Education technology, services, and payment processing revenue — 91,031 — — — — 91,031 Other 611 — 5,133 157 6,747 — 12,647 Gain on sale of loans — — — — — — — Impairment expense and provision for beneficial interests, net — — — — (6,284) — (6,284) Derivative settlements, net — — 4,623 — — — 4,623 Derivative market value adjustments, net — — 40,401 — — — 40,401 Total other income/expense 133,865 91,038 50,157 157 463 (8,388) 267,291 Cost of services — 30,852 — — — — 30,852 Operating expenses: Salaries and benefits 83,220 32,120 614 1,714 23,729 — 141,398 Depreciation and amortization 5,318 2,698 — 4 10,230 — 18,250 Other expenses 13,507 6,750 3,543 899 12,241 — 36,940 Intersegment expenses, net 18,558 4,805 8,513 57 (23,545) (8,388) — Total operating expenses 120,603 46,373 12,670 2,674 22,655 (8,388) 196,588 Income (loss) before income taxes 13,488 14,687 99,348 474 (19,609) — 108,387 Income tax (expense) benefit (3,237) (3,525) (23,844) (106) 5,228 — (25,483) Net income (loss) 10,251 11,162 75,504 368 (14,381) — 82,904 Net loss attributable to noncontrolling interests — 53 — — 2,172 — 2,225 Net income (loss) attributable to Nelnet, Inc. $ 10,251 11,215 75,504 368 (12,209) — 85,129 Total assets as of June 30, 2022 $ 240,437 546,235 17,388,228 864,659 2,273,216 (688,762) 20,624,013 Three months ended June 30, 2021 Loan Servicing and Systems Education Technology, Services, and Payment Processing Asset Nelnet Bank Corporate and Other Activities Eliminations Total Total interest income $ 30 210 129,965 2,041 1,524 (187) 133,583 Interest expense 23 — 48,670 392 1,093 (187) 49,991 Net interest income 7 210 81,295 1,649 431 — 83,592 Less provision (negative provision) for loan losses — — 305 69 — — 374 Net interest income after provision for loan losses 7 210 80,990 1,580 431 — 83,218 Other income/expense: Loan servicing and systems revenue 112,094 — — — — — 112,094 Intersegment revenue 8,480 3 — — — (8,483) — Education technology, services, and payment processing revenue — 76,702 — — — — 76,702 Other 701 — 2,316 4 19,900 — 22,921 Gain on sale of loans — — 15,271 — — — 15,271 Impairment expense and provision for beneficial interests, net — — — — (500) — (500) Derivative settlements, net — — (5,374) — — — (5,374) Derivative market value adjustments, net — — (1,615) — — — (1,615) Total other income/expense 121,275 76,705 10,598 4 19,400 (8,483) 219,499 Cost of services — 21,676 — — — — 21,676 Operating expenses: Salaries and benefits 68,388 27,094 556 1,578 21,351 — 118,968 Depreciation and amortization 7,974 2,956 — — 9,305 — 20,236 Other expenses 13,273 4,437 3,567 237 11,074 — 32,587 Intersegment expenses, net 16,134 3,520 8,549 37 (19,757) (8,483) — Total operating expenses 105,769 38,007 12,672 1,852 21,973 (8,483) 171,791 Income (loss) before income taxes 15,513 17,232 78,916 (268) (2,142) — 109,250 Income tax (expense) benefit (3,723) (4,136) (18,940) 64 497 — (26,237) Net income (loss) 11,790 13,096 59,976 (204) (1,645) — 83,013 Net loss attributable to noncontrolling interests — — — — 854 — 854 Net income (loss) attributable to Nelnet, Inc. $ 11,790 13,096 59,976 (204) (791) — 83,867 Total assets as of June 30, 2021 $ 205,214 424,079 20,783,755 407,611 1,489,212 (281,008) 23,028,863 Six months ended June 30, 2022 Loan Servicing and Systems Education Technology, Services, and Payment Processing Asset Nelnet Bank Corporate and Other Activities Eliminations Total Total interest income $ 313 1,213 258,994 8,241 10,227 (2,205) 276,783 Interest expense 44 — 115,711 2,494 5,678 (2,205) 121,721 Net interest income 269 1,213 143,283 5,747 4,549 — 155,062 Less provision (negative provision) for loan losses — — 7,963 1,011 — — 8,974 Net interest income after provision for loan losses 269 1,213 135,320 4,736 4,549 — 146,088 Other income/expense: Loan servicing and systems revenue 261,241 — — — — — 261,241 Intersegment revenue 16,860 10 — — — (16,870) — Education technology, services, and payment processing revenue — 203,317 — — — — 203,317 Other 1,350 — 11,644 1,659 7,872 — 22,524 Gain on sale of loans — — 2,989 — — — 2,989 Impairment expense and provision for beneficial interests, net — — — — (6,284) — (6,284) Derivative settlements, net — — 1,814 — — — 1,814 Derivative market value adjustments, net — — 186,135 — — — 186,135 Total other income/expense 279,451 203,327 202,582 1,659 1,588 (16,870) 671,736 Cost of services — 66,397 — — — — 66,397 Operating expenses: Salaries and benefits 175,192 63,406 1,205 3,268 47,742 — 290,813 Depreciation and amortization 10,272 5,013 — 7 19,914 — 35,206 Other expenses 29,721 12,514 6,576 1,584 26,045 — 76,439 Intersegment expenses, net 38,955 9,410 17,344 102 (48,941) (16,870) — Total operating expenses 254,140 90,343 25,125 4,961 44,760 (16,870) 402,458 Income (loss) before income taxes 25,580 47,800 312,777 1,434 (38,623) — 348,969 Income tax (expense) benefit (6,139) (11,472) (75,066) (328) 11,826 — (81,180) Net income (loss) 19,441 36,328 237,711 1,106 (26,797) — 267,789 Net loss attributable to noncontrolling interests — 53 — — 3,934 — 3,987 Net income (loss) attributable to Nelnet, Inc. $ 19,441 36,381 237,711 1,106 (22,863) — 271,776 Total assets as of June 30, 2022 $ 240,437 546,235 17,388,228 864,659 2,273,216 (688,762) 20,624,013 Six months ended June 30, 2021 Loan Servicing and Systems Education Technology, Services, and Payment Processing Asset Nelnet Bank Corporate and Other Activities Eliminations Total Total interest income $ 63 473 256,367 3,418 2,770 (405) 262,686 Interest expense 47 — 75,620 586 1,916 (405) 77,764 Net interest income 16 473 180,747 2,832 854 — 184,922 Less provision (negative provision) for loan losses — — (17,165) 491 — — (16,674) Net interest income after provision for loan losses 16 473 197,912 2,341 854 — 201,596 Other income/expense: Loan servicing and systems revenue 223,611 — — — — — 223,611 Intersegment revenue 16,748 6 — — — (16,754) — Education technology, services, and payment processing revenue — 171,960 — — — — 171,960 Other 1,814 — 2,760 26 13,716 — 18,317 Gain on sale of loans — — 15,271 — — — 15,271 Impairment expense and provision for beneficial interests, net — — 2,436 — (500) — 1,936 Derivative settlements, net — — (9,678) — — — (9,678) Derivative market value adjustments, net — — 37,194 — — — 37,194 Total other income/expense 242,173 171,966 47,983 26 13,216 (16,754) 458,611 Cost of services — 48,728 — — — — 48,728 Operating expenses: Salaries and benefits 134,846 53,035 1,051 3,065 42,761 — 234,759 Depreciation and amortization 16,166 6,027 — — 18,225 — 40,419 Other expenses 26,557 9,259 7,344 781 25,346 — 69,286 Intersegment expenses, net 33,024 7,184 16,976 40 (40,470) (16,754) — Total operating expenses 210,593 75,505 25,371 3,886 45,862 (16,754) 344,464 Income (loss) before income taxes 31,596 48,206 220,524 (1,519) (31,792) — 267,015 Income tax (expense) benefit (7,583) (11,570) (52,926) 351 10,630 — (61,098) Net income (loss) 24,013 36,636 167,598 (1,168) (21,162) — 205,917 Net loss attributable to noncontrolling interests — — — — 1,548 — 1,548 Net income (loss) attributable to Nelnet, Inc. $ 24,013 36,636 167,598 (1,168) (19,614) — 207,465 Total assets as of June 30, 2021 $ 205,214 424,079 20,783,755 407,611 1,489,212 (281,008) 23,028,863

Disaggregated Revenue

Disaggregated Revenue	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregated Revenue	Disaggregated Revenue The following tables provide disaggregated revenue by service offering and/or customer type for the Company's fee-based reportable operating segments. Loan Servicing and Systems Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Government servicing $ 98,815 79,239 207,940 157,413 Private education and consumer loan servicing 12,122 12,816 24,995 21,364 FFELP servicing 4,011 4,703 8,259 9,373 Software services 7,907 7,374 15,308 15,827 Outsourced services and other 2,018 7,962 4,739 19,634 Loan servicing and systems revenue $ 124,873 112,094 261,241 223,611 Education Technology, Services, and Payment Processing Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Tuition payment plan services $ 27,637 26,538 58,352 56,088 Payment processing 27,968 25,008 66,039 58,046 Education technology and services 34,956 24,930 78,207 57,457 Other 470 226 719 369 Education technology, services, and payment processing revenue $ 91,031 76,702 203,317 171,960 Other Income/Expense The following table provides the components of "other" in "other income/expense" on the consolidated statements of income: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Income/gains from investments, net $ 18,127 15,591 29,983 24,089 Borrower late fee income 2,436 744 4,867 1,184 ALLO preferred return 2,140 2,020 4,257 4,342 Administration/sponsor fee income 2,012 — 4,134 — Investment advisory services 1,482 1,145 2,764 3,842 Loss from ALLO voting membership interest investment (16,941) 1,094 (30,071) (21,125) Loss from solar investments (1,854) (2,302) (2,884) (3,982) Other 5,245 4,629 9,474 9,967 $ 12,647 22,921 22,524 18,317

Major Customer

Major Customer	6 Months Ended
	Jun. 30, 2022
Risks and Uncertainties [Abstract]
Major Customer	Major Customer The Company earns loan servicing revenue from servicing contracts with the Department. Revenues earned by the Company related to these contracts are set forth in the "Government servicing" line item of the "Loan Servicing and Systems" table in note 11. The Company's student loan servicing contracts with the Department are scheduled to expire on December 14, 2023. In 2017, the Department initiated a contract procurement process referred to as the Next Generation Financial Services Environment for a new framework for the servicing of all student loans owned by the Department. The Consolidated Appropriations Act, 2021 contains provisions directing certain aspects of the process, including that any new federal student loan servicing environment is required to provide for the participation of multiple student loan servicers and the allocation of borrower accounts to eligible student loan servicers based on performance. In the second quarter of 2022, the Department released a solicitation entitled Unified Servicing and Data Solution ("USDS") for the new servicing framework. The Company responded to the USDS solicitation. The Company cannot predict the timing, nature, or ultimate outcome of this or any other contract procurement process by the Department.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2022
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. As of June 30, 2022 As of December 31, 2021 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Investments: FFELP loan asset-backed debt securities - available-for-sale $ — 809,635 809,635 — 494,682 494,682 Private education loan asset-backed debt securities - available-for-sale — 338,441 338,441 — 412,552 412,552 Other debt securities - available-for-sale 100 146,361 146,461 100 22,335 22,435 Equity securities 7,298 — 7,298 63,154 — 63,154 Equity securities measured at net asset value (a) 29,647 8,832 Total investments 7,398 1,294,437 1,331,482 63,254 929,569 1,001,655 Total assets $ 7,398 1,294,437 1,331,482 63,254 929,569 1,001,655 (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 June 30, 2022 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 16,533,011 16,135,653 — — 16,533,011 Accrued loan interest receivable 780,691 780,691 — 780,691 — Cash and cash equivalents 128,499 128,499 128,499 — — Investments (at fair value) 1,331,482 1,331,482 7,398 1,294,437 — Beneficial interest in loan securitizations 137,726 127,805 — — 137,726 Restricted cash 754,693 754,693 754,693 — — Restricted cash – due to customers 290,850 290,850 290,850 — — Financial liabilities: Bonds and notes payable 15,765,820 16,115,269 — 15,765,820 — Accrued interest payable 12,963 12,963 — 12,963 — Bank deposits 566,293 588,474 208,003 358,290 — Due to customers 409,476 409,476 409,476 — — As of December 31, 2021 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 18,576,272 17,546,645 — — 18,576,272 Accrued loan interest receivable 788,552 788,552 — 788,552 — Cash and cash equivalents 125,563 125,563 125,563 — — Investments (at fair value) 1,001,655 1,001,655 63,254 929,569 — Beneficial interest in loan securitizations 142,391 120,142 — — 142,391 Restricted cash 741,981 741,981 741,981 — — Restricted cash – due to customers 326,645 326,645 326,645 — — Financial liabilities: Bonds and notes payable 17,819,902 17,631,089 — 17,819,902 — Accrued interest payable 4,566 4,566 — 4,566 — Bank deposits 342,463 344,315 184,897 157,566 — Due to customers 366,002 366,002 366,002 — — The methodologies for estimating the fair value of financial assets and liabilities are described in note 22 of the notes to consolidated financial statements included in the 2021 Annual Report.

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventOn July 1, 2022, the Company acquired 80 percent of the outstanding ownership interests of GRNE-Nelnet, LLC ("GRNE") and its affiliate ENRG-Nelnet, LLC ("ENRG") for $29.7 million in cash. GRNE designs and installs residential, commercial, and utility-scale solar systems in the Midwest. ENRG owns certain assets that generate and sell solar energy. The operating results of GRNE and ENRG will be included in the Company's consolidated results of operations beginning July 1, 2022

Basis of Financial Reporting (P

Basis of Financial Reporting (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Reporting	The accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the “Company”) as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2021 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 ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of the results for the year ending December 31, 2022. 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, 2021 (the "2021 Annual Report").
Reclassification of Prior Period Cash Flows Presentation	Reclassification of Prior Period Cash Flows Presentation The line item in the Company's consolidated statements of cash flows for changes during a period in amounts "due to customers" was previously presented in cash flows from operating activities, and has been corrected for the periods presented in this report (including the prior year period) to be presented in cash flows from financing activities. This correction has no impact on the Company's previously reported consolidated net income, total assets (including cash and cash equivalents), liabilities, and equity, and while the correction has a corresponding impact on the amounts of cash flows from operating and financing activities, it has no impact on the net increase or decrease in cash for previously reported periods. The Company has concluded that the correction was not material from a combined quantitative and qualitative perspective to its previously issued interim financial statements for 2022, or its previously issued financial statements for 2021, 2020, and 2019.

Loans and Accrued Interest Re_2

Loans and Accrued Interest Receivable and Allowance for Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Loans Receivable and Accrued Interest Receivable	Loans and accrued interest receivable consisted of the following: As of As of June 30, 2022 December 31, 2021 Non-Nelnet Bank: Federally insured student loans: Stafford and other $ 3,548,901 3,904,000 Consolidation 11,880,710 13,187,047 Total 15,429,611 17,091,047 Private education loans 272,943 299,442 Consumer and other loans 152,583 51,301 Non-Nelnet Bank loans 15,855,137 17,441,790 Nelnet Bank: Federally insured student loans 77,428 88,011 Private education loans 346,125 169,890 Nelnet Bank loans 423,553 257,901 Accrued interest receivable 780,691 788,552 Loan discount, net of unamortized loan premiums and deferred origination costs (22,613) (25,933) Allowance for loan losses: Non-Nelnet Bank: Federally insured loans (92,593) (103,381) Private education loans (15,253) (16,143) Consumer and other loans (10,576) (6,481) Non-Nelnet Bank allowance for loan losses (118,422) (126,005) Nelnet Bank: Federally insured loans (258) (268) Private education loans (1,744) (840) Nelnet Bank allowance for loan losses (2,002) (1,108) $ 16,916,344 18,335,197
Allowance for Loan Losses as a Percentage of the Ending Balance	The following table summarizes the allowance for loan losses as a percentage of the ending loan balance for each of the Company's loan portfolios. As of As of June 30, 2022 December 31, 2021 Non-Nelnet Bank: Federally insured student loans (a) 0.60 % 0.60 % Private education loans 5.59 % 5.39 % Consumer and other loans (b) 6.93 % 12.63 % Nelnet Bank: Federally insured student loans (a) 0.33 % 0.30 % Private education loans 0.50 % 0.49 % (a) As of June 30, 2022 and December 31, 2021, the allowance for loan losses as a percent of the risk sharing component of federally insured student loans not covered by the federal guaranty for non-Nelnet Bank was 21.8% and 22.2%, respectively, and for Nelnet Bank was 13.2% and 12.1%, respectively. (b) During the second quarter of 2022, the Company purchased home equity loans that generally have lower default rates than unsecured consumer loans. As such, the allowance for loan losses as a percentage of the ending loan balance has decreased as of June 30, 2022 as compared to December 31, 2021.
Allowance for Loan Losses	The following table presents the activity in the allowance for loan losses by portfolio segment. Balance at beginning of period Provision (negative provision) for loan losses Charge-offs Recoveries Initial allowance on loans purchased with credit deterioration (a) Loan sales Balance at end of period Three months ended June 30, 2022 Non-Nelnet Bank: Federally insured loans $ 95,995 2,365 (5,788) — 21 — 92,593 Private education loans 14,622 1,217 (707) 118 — 3 15,253 Consumer and other loans 5,710 5,245 (531) 152 — — 10,576 Nelnet Bank: Federally insured loans 247 13 (2) — — — 258 Private education loans 1,251 569 (73) — — (3) 1,744 $ 117,825 9,409 (7,101) 270 21 — 120,424 Three months ended June 30, 2021 Non-Nelnet Bank: Federally insured loans $ 121,846 (397) (1,172) — 525 — 120,802 Private education loans 20,670 (1,004) (403) 139 — 1 19,403 Consumer and other loans 14,134 1,706 (1,464) 235 — (9,909) 4,702 Nelnet Bank: Federally insured loans — 245 — — — — 245 Private education loans 744 (176) — — — (1) 567 $ 157,394 374 (3,039) 374 525 (9,909) 145,719 Six months ended June 30, 2022 Non-Nelnet Bank Federally insured loans $ 103,381 (383) (10,549) — 144 — 92,593 Private education loans 16,143 817 (2,006) 295 — 4 15,253 Consumer and other loans 6,481 7,529 (1,469) 319 — (2,284) 10,576 Nelnet Bank Federally insured loans 268 (8) (2) — — — 258 Private education loans 840 995 (87) — — (4) 1,744 $ 127,113 8,950 (14,113) 614 144 (2,284) 120,424 Six months ended June 30, 2021 Non-Nelnet Bank Federally insured loans $ 128,590 (7,880) (1,233) — 1,325 — 120,802 Private education loans 19,529 427 (896) 341 — 2 19,403 Consumer and other loans 27,256 (9,712) (3,414) 481 — (9,909) 4,702 Nelnet Bank Federally insured loans — 245 — — — — 245 Private education loans 323 246 — — — (2) 567 $ 175,698 (16,674) (5,543) 822 1,325 (9,909) 145,719 (a) During the three months ended June 30, 2022 and 2021, and six months ended June 30, 2022 and 2021, the Company acquired $1.6 million (par value), $34.7 million (par value), $10.8 million (par value), and $88.7 million (par value), respectively, of federally insured rehabilitation loans that met the definition of purchased loans with credit deterioration ("PCD loans") when they were purchased by the Company.
Loan Status and Delinquencies	The table below shows the Company’s loan status and delinquency amounts. As of June 30, 2022 As of December 31, 2021 As of June 30, 2021 Federally insured loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 763,957 4.9 % $ 829,624 4.9 % $ 955,227 5.0 % Loans in forbearance 1,246,882 8.1 1,118,667 6.5 2,079,368 11.0 Loans in repayment status: Loans current 11,551,817 86.1 % 12,847,685 84.9 % 13,995,297 88.0 % Loans delinquent 31-60 days 464,234 3.5 895,656 5.9 580,602 3.7 Loans delinquent 61-90 days 309,252 2.3 352,449 2.3 262,353 1.6 Loans delinquent 91-120 days 187,452 1.4 251,075 1.7 104,124 0.7 Loans delinquent 121-270 days 638,189 4.7 592,449 3.9 398,965 2.5 Loans delinquent 271 days or greater 267,828 2.0 203,442 1.3 562,928 3.5 Total loans in repayment 13,418,772 87.0 100.0 % 15,142,756 88.6 100.0 % 15,904,269 84.0 100.0 % Total federally insured loans 15,429,611 100.0 % 17,091,047 100.0 % 18,938,864 100.0 % Accrued interest receivable 775,337 784,716 830,973 Loan discount, net of unamortized premiums and deferred origination costs (26,674) (28,309) (24,129) Allowance for loan losses (92,593) (103,381) (120,802) Total federally insured loans and accrued interest receivable, net of allowance for loan losses $ 16,085,681 $ 17,744,073 $ 19,624,906 Private education loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 15,403 5.6 % $ 9,661 3.2 % $ 10,195 2.9 % Loans in forbearance 2,447 0.9 3,601 1.2 3,884 1.1 Loans in repayment status: Loans current 250,268 98.1 % 280,457 98.0 % 330,097 98.3 % Loans delinquent 31-60 days 1,980 0.8 2,403 0.8 3,962 1.2 Loans delinquent 61-90 days 782 0.3 976 0.3 818 0.2 Loans delinquent 91 days or greater 2,063 0.8 2,344 0.9 1,138 0.3 Total loans in repayment 255,093 93.5 100.0 % 286,180 95.6 100.0 % 336,015 96.0 100.0 % Total private education loans 272,943 100.0 % 299,442 100.0 % 350,094 100.0 % Accrued interest receivable 2,058 1,960 2,360 Loan premium, net of unamortized discount 94 (1,123) (1,547) Allowance for loan losses (15,253) (16,143) (19,403) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 259,842 $ 284,136 $ 331,504 As of June 30, 2022 As of December 31, 2021 As of June 30, 2021 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ 64 0.0 % $ 43 0.1 % $ 38 0.1 % Loans in repayment status: Loans current 150,812 98.9 % 49,697 97.0 % 41,039 96.1 % Loans delinquent 31-60 days 515 0.3 414 0.8 387 0.9 Loans delinquent 61-90 days 435 0.3 322 0.6 484 1.1 Loans delinquent 91 days or greater 757 0.5 825 1.6 819 1.9 Total loans in repayment 152,519 100.0 100.0 % 51,258 99.9 100.0 % 42,729 99.9 % 100.0 % Total consumer and other loans 152,583 100.0 % 51,301 100.0 % 42,767 100.0 % Accrued interest receivable 1,376 396 328 Loan discount, net of unamortized premiums (1,965) 913 377 Allowance for loan losses (10,576) (6,481) (4,702) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 141,418 $ 46,129 $ 38,770 Federally insured loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 283 0.4 % $ 330 0.4 % $ 103 0.1 % Loans in forbearance 1,029 1.3 1,057 1.2 1,026 1.1 Loans in repayment status: Loans current 74,883 98.4 % 85,599 98.8 % 95,402 99.3 % Loans delinquent 30-59 days 587 0.8 816 1.0 593 0.6 Loans delinquent 60-89 days 165 0.2 — — 43 0.1 Loans delinquent 90-119 days 245 0.3 — — — — Loans delinquent 120-270 days 236 0.3 209 0.2 — — Loans delinquent 271 days or greater — — — — — — Total loans in repayment 76,116 98.3 100.0 % 86,624 98.4 100.0 % 96,038 98.8 100.0 % Total federally insured loans 77,428 100.0 % 88,011 100.0 % 97,167 100.0 % Accrued interest receivable 1,381 1,216 1,179 Loan premium 23 26 29 Allowance for loan losses (258) (268) (245) Total federally insured loans and accrued interest receivable, net of allowance for loan losses $ 78,574 $ 88,985 $ 98,130 Private education loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 1,160 0.3 % $ 150 0.1 % $ 82 0.1 % Loans in forbearance 1,236 0.4 460 0.3 133 0.1 Loans in repayment status: Loans current 343,148 99.8 % 169,157 99.9 % 93,189 100.0 % Loans delinquent 30-59 days 169 0.1 51 — — — Loans delinquent 60-89 days 412 0.1 — — — — Loans delinquent 90 days or greater — — 72 0.1 — — Total loans in repayment 343,729 99.3 100.0 % 169,280 99.6 100.0 % 93,189 99.8 100.0 % Total private education loans 346,125 100.0 % 169,890 100.0 % 93,404 100.0 % Accrued interest receivable 539 264 149 Deferred origination costs 5,909 2,560 1,374 Allowance for loan losses (1,744) (840) (567) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 350,829 $ 171,874 $ 94,360 (a) For the periods presented for Nelnet Bank, the delinquency bucket periods conform with the delinquency bucket periods reflected in Nelnet Bank's Call Reports filed with the Federal Deposit Insurance Corporation.
Loans Receivable Credit Quality Indicators	The following tables highlight the gross principal balance of Nelnet Bank's private education loan portfolio, by year of origination, stratified by FICO score at the time of origination. Loan balance as of June 30, 2022 Six months ended June 30, 2022 2021 2020 Total FICO at origination: Less than 705 $ 4,042 5,627 95 9,764 705 - 734 18,060 10,959 264 29,283 735 - 764 31,516 17,165 1,007 49,688 765 - 794 54,493 33,080 1,353 88,926 Greater than 794 85,571 76,274 6,619 168,464 $ 193,682 143,105 9,338 346,125 Loan balance as of December 31, 2021 2021 2020 Total FICO at origination: Less than 705 $ 6,481 100 6,581 705 - 734 11,697 276 11,973 735 - 764 18,611 1,072 19,683 765 - 794 36,274 1,467 37,741 Greater than 794 86,141 7,771 93,912 $ 159,204 10,686 169,890 The following table presents the amortized cost of the Company's private education, consumer, and other loans by loan status and delinquency amount as of June 30, 2022 based on year of origination. Effective July 1, 2010, no new loan originations can be made under the FFEL Program and all new federal loan originations must be made under the Federal Direct Loan Program. As such, all the Company’s federally insured loans were originated prior to July 1, 2010. Six months ended June 30, 2022 2021 2020 2019 2018 Prior years Total Private education loans - Non-Nelnet Bank: Loans in school/grace/deferment $ 1,601 7,311 1,784 3,093 — 1,614 15,403 Loans in forbearance — — 368 632 47 1,400 2,447 Loans in repayment status: Loans current 3,947 3,071 57,126 44,044 410 141,670 250,268 Loans delinquent 31-60 days — — 104 421 — 1,455 1,980 Loans delinquent 61-90 days — 20 52 — — 710 782 Loans delinquent 91 days or greater — 7 111 79 — 1,866 2,063 Total loans in repayment 3,947 3,098 57,393 44,544 410 145,701 255,093 Total private education loans $ 5,548 10,409 59,545 48,269 457 148,715 272,943 Accrued interest receivable 2,058 Loan premium, net of unamortized discount 94 Allowance for loan losses (15,253) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 259,842 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ 16 38 — — 10 — 64 Loans in repayment status: Loans current 101,890 40,772 1,865 3,118 3,130 37 150,812 Loans delinquent 31-60 days 163 219 26 60 44 3 515 Loans delinquent 61-90 days 151 194 14 46 30 — 435 Loans delinquent 91 days or greater 68 119 16 196 358 — 757 Total loans in repayment 102,272 41,304 1,921 3,420 3,562 40 152,519 Total consumer and other loans $ 102,288 41,342 1,921 3,420 3,572 40 152,583 Accrued interest receivable 1,376 Loan discount, net of unamortized premiums (1,965) Allowance for loan losses (10,576) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 141,418 Private education loans - Nelnet Bank (a): Loans in school/grace/deferment $ 863 297 — — — — 1,160 Loans in forbearance 665 440 131 — — — 1,236 Loans in repayment status: Loans current 192,101 141,840 9,207 — — — 343,148 Loans delinquent 30-59 days — 169 — — — — 169 Loans delinquent 60-89 days 53 359 — — — — 412 Loans delinquent 90 days or greater — — — — — — — Total loans in repayment 192,154 142,368 9,207 — — — 343,729 Total private education loans $ 193,682 143,105 9,338 — — — 346,125 Accrued interest receivable 539 Deferred origination costs 5,909 Allowance for loan losses (1,744) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 350,829 (a) For the periods presented for Nelnet Bank, the delinquency bucket periods conform with the delinquency bucket periods reflected in Nelnet Bank's Call Reports filed with the Federal Deposit Insurance Corporation.

Bonds and Notes Payable (Tables

Bonds and Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Outstanding Debt Obligations	The following tables summarize the Company’s outstanding debt obligations by type of instrument: As of June 30, 2022 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 $ 14,323,434 1.22% - 3.62% 2/27/28 - 9/25/69 Bonds and notes based on auction 221,385 0.00% - 2.30% 3/32/32 - 8/27/46 Total FFELP variable-rate bonds and notes 14,544,819 Fixed-rate bonds and notes issued in FFELP loan asset-backed securitizations 703,600 1.42% - 3.45% 10/25/67 - 8/27/68 FFELP loan warehouse facility 4,618 1.64% 11/22/23 Private education loan warehouse facility 89,466 1.71% 10/31/23 Variable-rate bonds and notes issued in private education loan asset-backed securitizations 24,737 3.10% / 3.37% 12/26/40 / 6/25/49 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 25,200 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit — — 9/22/26 Participation agreement 393,480 2.41% 5/4/23 Repurchase agreements 500,690 0.97% - 2.81% 8/8/22 - 11/27/24 16,286,610 Discount on bonds and notes payable and debt issuance costs (171,341) Total $ 16,115,269 As of December 31, 2021 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 $ 15,887,295 0.23% - 2.10% 5/27/25 - 9/25/69 Bonds and notes based on auction 248,550 0.00% - 1.09% 3/22/32 - 8/27/46 Total FFELP variable-rate bonds and notes 16,135,845 Fixed-rate bonds and notes issued in FFELP loan asset-backed securitizations 772,935 1.42% - 3.45% 10/25/67 - 8/27/68 FFELP loan warehouse facility 5,048 0.21% 5/22/23 Private education loan warehouse facility 107,011 0.24% 2/13/23 Variable-rate bonds and notes issued in private education loan asset-backed securitizations 31,818 1.65% / 1.85% 12/26/40 / 6/25/49 Fixed-rate bonds and notes issued in private education loan asset-backed securitization 28,613 3.60% / 5.35% 12/26/40 / 12/28/43 Unsecured line of credit — — 9/22/26 Participation agreement 253,969 0.78% 5/4/22 Repurchase agreements 483,848 0.66% - 1.46% 5/27/22 - 12/20/23 Secured line of credit 5,000 1.91% 5/30/22 17,824,087 Discount on bonds and notes payable and debt issuance costs (192,998) Total $ 17,631,089

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Outstanding Basis Swap	The following table summarizes the Company’s outstanding basis swaps as of June 30, 2022 and December 31, 2021, 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"). Maturity Notional amount As of As of June 30, 2022 December 31, 2021 2022 $ 1,000,000 2,000,000 2023 750,000 750,000 2024 1,750,000 1,750,000 2026 1,150,000 1,150,000 2027 250,000 250,000 $ 4,900,000 5,900,000
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 June 30, 2022 As of December 31, 2021 Maturity Notional amount Weighted average fixed rate paid by the Company (a) Notional amount Weighted average fixed rate paid by the Company (a) 2022 $ — — % $ 500,000 0.94 % 2023 250,000 0.32 900,000 0.62 2024 2,250,000 0.35 2,500,000 0.35 2025 — — 500,000 0.35 2026 500,000 1.02 500,000 1.02 2031 100,000 1.53 100,000 1.53 $ 3,100,000 0.49 % $ 5,000,000 0.55 % (a) For all interest rate derivatives, the Company receives discrete three-month LIBOR.
Derivative Impact on Statement of Income	The following table summarizes the components of "derivative market value adjustments and derivative settlements, net" included in the consolidated statements of income. Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Settlements: 1:3 basis swaps $ 931 (221) 1,327 (240) Interest rate swaps - floor income hedges 3,692 (5,153) 487 (9,438) Total settlements - income (expense) 4,623 (5,374) 1,814 (9,678) Change in fair value: 1:3 basis swaps (148) (1,106) 741 1,693 Interest rate swaps - floor income hedges 40,549 (509) 185,394 35,501 Total change in fair value - income (expense) 40,401 (1,615) 186,135 37,194 Derivative market value adjustments and derivative settlements, net - income (expense) $ 45,024 (6,989) 187,949 27,516

Investments and Notes Receiva_2

Investments and Notes Receivable (Tables)	6 Months Ended
	Jun. 30, 2022
Investments [Abstract]
Investments and Notes Receivable	A summary of the Company's investments and notes receivable follows: As of June 30, 2022 As of December 31, 2021 Amortized cost Gross unrealized gains Gross unrealized losses (a) Fair value Amortized cost Gross unrealized gains Gross unrealized losses Fair value Investments (at fair value): FFELP loan asset-backed securities- available-for-sale (b) $ 821,154 4,509 (16,028) 809,635 480,691 14,710 (719) 494,682 Private education loan asset-backed securities - available-for-sale (c) 366,602 — (28,161) 338,441 414,286 507 (2,241) 412,552 Other debt securities - available-for-sale 148,686 24 (2,249) 146,461 22,435 — — 22,435 Total available-for-sale debt securities $ 1,336,442 4,533 (46,438) 1,294,537 917,412 15,217 (2,960) 929,669 Equity securities 36,945 71,986 Total investments (at fair value) 1,331,482 1,001,655 Other Investments (not measured at fair value): Other debt securities - held-to-maturity 8,200 8,200 Venture capital and funds: Measurement alternative 159,332 157,609 Equity method 82,147 67,840 Total venture capital and funds 241,479 225,449 Real estate: Equity method 57,532 47,226 Notes receivable 5,069 — Total real estate 62,601 47,226 Investment in ALLO: Voting interest/equity method (d) 91,832 87,247 Preferred membership interest and accrued and unpaid preferred return (e) 141,599 137,342 Total investment in ALLO 233,431 224,589 Beneficial interest in loan securitizations (f): Private education loans, including accrued interest 77,308 66,008 Consumer loans 26,197 28,366 Federally insured student loans 24,300 25,768 Total beneficial interest in loan securitizations 127,805 120,142 Solar (g) (54,499) (42,457) Notes receivable 33,012 — Tax liens, affordable housing, and other 4,939 4,115 Total investments (not measured at fair value) 656,968 587,264 Total investments and notes receivable $ 1,988,450 $ 1,588,919 (a) As of June 30, 2022, the aggregate fair value of available-for-sale debt securities with unrealized losses was $1.1 billion. The Company currently has the intent and ability to retain these investments, and none of the unrealized losses were due to credit losses. (b) As of June 30, 2022, $393.4 million (par value) of FFELP loan asset-backed securities were subject to participation interests held by Union Bank, as discussed in note 3 under "Participation Agreement." (c) The Company's private education loan asset-backed securities portfolio is subject to repurchase agreements with third parties, as discussed in note 3 under “Repurchase Agreements.” (d) On February 25, 2022, the Company contributed $34.7 million of additional equity to ALLO Holdings LLC, a holding company for ALLO Communications LLC (collectively referred to as "ALLO"). As a result of this equity contribution, the Company's voting membership interests percentage in ALLO did not materially change. The Company accounts for its voting membership interests in ALLO under the Hypothetical Liquidation at Book Value ("HLBV") method of accounting. During the three months ended June 30, 2022 and 2021, the Company recognized a pre-tax loss of $16.9 million and income of $1.1 million, respectively, under the HLBV method of accounting on its ALLO voting membership interests investment, and during the six months ended June 30, 2022 and 2021, the Company recognized pre-tax losses of $30.1 million and $21.1 million, respectively. Income and losses from the Company's investment in ALLO are included in "other" in "other income/expense" on the consolidated statements of income. In the second quarter of 2021, the Company revised its accounting policy to correct for an error in its method of applying the HLBV method of accounting for its investment in ALLO. Prior to the second quarter of 2021, the Company calculated Nelnet’s liquidation basis in ALLO under the HLBV method by using Nelnet’s proportionate share of tax losses and amortizing any basis difference using tax methods. The Company determined that Nelnet’s liquidation basis in ALLO under the HLBV method should equal ALLO’s GAAP losses and amortization of any basis difference should use book lives. During the second quarter of 2021, the Company recorded an adjustment to reflect the cumulative net impact on prior periods (since the deconsolidation of ALLO on December 21, 2020) for the correction of this error that resulted in a $14.0 million increase to the Company’s ALLO investment balance and a corresponding pre-tax increase to other income. The Company concluded this error had an immaterial impact on 2021 results as well as the results for prior periods. (e) As of June 30, 2022, the outstanding preferred membership interests and accrued and unpaid preferred return of ALLO held by the Company was $137.3 million and $4.3 million, respectively. The preferred membership interests of ALLO held by the Company earn a preferred annual return of 6.25 percent. The Company recognized pre-tax income on its ALLO preferred membership interests of $2.1 million and $2.0 million during the three months ended June 30, 2022 and 2021, respectively, and $4.3 million during both the six months ended June 30, 2022 and 2021. This income is included in "other" in "other income/expense" on the consolidated statements of income. (f) The Company has partial ownership in certain private education, consumer, and federally insured student loan securitizations. As of the latest remittance reports filed by the various trusts prior to or as of June 30, 2022, the Company's ownership correlates to approximately $650 million, $160 million, and $430 million of private education, consumer, and federally insured student loans, respectively, included in these securitizations. (g) As of June 30, 2022, the Company has funded a total of $241.3 million in solar investments, which includes $71.4 million funded by syndication partners. The carrying value of the Company’s solar investments are reduced by tax credits earned when the solar project is placed in service. The solar investment balance at June 30, 2022 represents the sum of total tax credits earned on solar projects placed in service through June 30, 2022 and the calculated HLBV net losses being larger than total payments made by the Company on such projects. As of June 30, 2022, the Company is committed to fund an additional $51.9 million on these projects, of which $43.1 million will be provided by syndication partners. The Company accounts for its solar investments using the HLBV method of accounting. For the majority of the Company’s solar investments, the HLBV method of accounting results in accelerated losses in the initial years of investment. The Company recognized pre-tax losses on its solar investments of $1.9 million and $2.3 million during the three months ended June 30, 2022 and 2021, respectively, and $2.9 million and $4.0 million during the six months ended June 30, 2022 and 2021, respectively. These losses are included in “other” in "other income/expense" on the consolidated statements of income. Losses from solar investments include losses attributable to third-party minority interest investors (syndication partners) that are included in “net loss attributable to noncontrolling interests” in the consolidated statements of income. Solar losses attributed to minority investors was $2.0 million and $0.6 million for the three months ended June 30, 2022 and 2021, respectively, and $3.8 million and $1.9 million for the six months ended June 30, 2022 and 2021, respectively.

Business Combination (Tables)

Business Combination (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. The fair values of the assets and liabilities related to NextGen are subject to refinement as the Company completes its analysis relative to the fair values at the date of acquisition. Cash and cash equivalents $ 1,885 Accounts receivable 1,315 Property and equipment 800 Other assets 201 Intangible assets 23,395 Excess cost over fair value of net assets acquired (goodwill) 7,025 Other liabilities (3,937) Net assets acquired 30,684 Minority interest (6,137) Remeasurement of previously held investment (15,342) Total consideration paid by the Company $ 9,205

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	Intangible assets consisted of the following: Weighted average remaining useful life as of June 30, 2022 (months) As of As of June 30, 2022 December 31, 2021 Amortizable intangible assets, net: Customer relationships (net of accumulated amortization of $47,328 and $97,398, respectively) 96 $ 48,552 47,894 Computer software (net of accumulated amortization of $3,411 and $3,669, respectively) 52 21,534 4,135 Total - amortizable intangible assets, net 82 $ 70,086 52,029
Future Amortization Expense	The Company will continue to amortize intangible assets over their remaining useful lives. As of June 30, 2022, the Company estimates it will record amortization expense as follows: 2022 (July 1 - December 31) $ 7,176 2023 14,243 2024 11,870 2025 9,057 2026 8,930 2027 and thereafter 18,810 $ 70,086

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill [Abstract]
Goodwill	The carrying amount of goodwill by reportable operating segment was as follows: Loan Servicing and Systems Education Technology, Services, and Payment Processing Asset Generation and Management Nelnet Bank Corporate and Other Activities Total Balance as of December 31, 2021 and March 31, 2022 $ 23,639 76,570 41,883 — — 142,092 Goodwill acquired — 7,025 — — — 7,025 Balance as of June 30, 2022 $ 23,639 83,595 41,883 — — 149,117

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
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 June 30, 2022 2021 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 83,485 1,644 85,129 82,479 1,388 83,867 Denominator: Weighted-average common shares outstanding - basic and diluted 36,981,990 728,224 37,710,214 38,100,092 641,394 38,741,486 Earnings per share - basic and diluted $ 2.26 2.26 2.26 2.16 2.16 2.16 Six months ended June 30, 2022 2021 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 266,735 5,041 271,776 204,209 3,256 207,465 Denominator: Weighted-average common shares outstanding - basic and diluted 37,172,606 702,502 37,875,108 38,065,869 607,033 38,672,902 Earnings per share - basic and diluted $ 7.18 7.18 7.18 5.36 5.36 5.36

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Operating Segments Reconciliation to Consolidated Financial Statements	The following tables include the results of each of the Company's operating segments reconciled to the consolidated financial statements. Three months ended June 30, 2022 Loan Servicing and Systems Education Technology, Services, and Payment Processing Asset Nelnet Bank Corporate and Other Activities Eliminations Total Total interest income $ 246 874 140,396 5,212 6,235 (1,376) 151,587 Interest expense 20 — 69,708 1,639 3,652 (1,376) 73,642 Net interest income 226 874 70,688 3,573 2,583 — 77,945 Less provision (negative provision) for loan losses — — 8,827 582 — — 9,409 Net interest income after provision for loan losses 226 874 61,861 2,991 2,583 — 68,536 Other income/expense: Loan servicing and systems revenue 124,873 — — — — — 124,873 Intersegment revenue 8,381 7 — — — (8,388) — Education technology, services, and payment processing revenue — 91,031 — — — — 91,031 Other 611 — 5,133 157 6,747 — 12,647 Gain on sale of loans — — — — — — — Impairment expense and provision for beneficial interests, net — — — — (6,284) — (6,284) Derivative settlements, net — — 4,623 — — — 4,623 Derivative market value adjustments, net — — 40,401 — — — 40,401 Total other income/expense 133,865 91,038 50,157 157 463 (8,388) 267,291 Cost of services — 30,852 — — — — 30,852 Operating expenses: Salaries and benefits 83,220 32,120 614 1,714 23,729 — 141,398 Depreciation and amortization 5,318 2,698 — 4 10,230 — 18,250 Other expenses 13,507 6,750 3,543 899 12,241 — 36,940 Intersegment expenses, net 18,558 4,805 8,513 57 (23,545) (8,388) — Total operating expenses 120,603 46,373 12,670 2,674 22,655 (8,388) 196,588 Income (loss) before income taxes 13,488 14,687 99,348 474 (19,609) — 108,387 Income tax (expense) benefit (3,237) (3,525) (23,844) (106) 5,228 — (25,483) Net income (loss) 10,251 11,162 75,504 368 (14,381) — 82,904 Net loss attributable to noncontrolling interests — 53 — — 2,172 — 2,225 Net income (loss) attributable to Nelnet, Inc. $ 10,251 11,215 75,504 368 (12,209) — 85,129 Total assets as of June 30, 2022 $ 240,437 546,235 17,388,228 864,659 2,273,216 (688,762) 20,624,013 Three months ended June 30, 2021 Loan Servicing and Systems Education Technology, Services, and Payment Processing Asset Nelnet Bank Corporate and Other Activities Eliminations Total Total interest income $ 30 210 129,965 2,041 1,524 (187) 133,583 Interest expense 23 — 48,670 392 1,093 (187) 49,991 Net interest income 7 210 81,295 1,649 431 — 83,592 Less provision (negative provision) for loan losses — — 305 69 — — 374 Net interest income after provision for loan losses 7 210 80,990 1,580 431 — 83,218 Other income/expense: Loan servicing and systems revenue 112,094 — — — — — 112,094 Intersegment revenue 8,480 3 — — — (8,483) — Education technology, services, and payment processing revenue — 76,702 — — — — 76,702 Other 701 — 2,316 4 19,900 — 22,921 Gain on sale of loans — — 15,271 — — — 15,271 Impairment expense and provision for beneficial interests, net — — — — (500) — (500) Derivative settlements, net — — (5,374) — — — (5,374) Derivative market value adjustments, net — — (1,615) — — — (1,615) Total other income/expense 121,275 76,705 10,598 4 19,400 (8,483) 219,499 Cost of services — 21,676 — — — — 21,676 Operating expenses: Salaries and benefits 68,388 27,094 556 1,578 21,351 — 118,968 Depreciation and amortization 7,974 2,956 — — 9,305 — 20,236 Other expenses 13,273 4,437 3,567 237 11,074 — 32,587 Intersegment expenses, net 16,134 3,520 8,549 37 (19,757) (8,483) — Total operating expenses 105,769 38,007 12,672 1,852 21,973 (8,483) 171,791 Income (loss) before income taxes 15,513 17,232 78,916 (268) (2,142) — 109,250 Income tax (expense) benefit (3,723) (4,136) (18,940) 64 497 — (26,237) Net income (loss) 11,790 13,096 59,976 (204) (1,645) — 83,013 Net loss attributable to noncontrolling interests — — — — 854 — 854 Net income (loss) attributable to Nelnet, Inc. $ 11,790 13,096 59,976 (204) (791) — 83,867 Total assets as of June 30, 2021 $ 205,214 424,079 20,783,755 407,611 1,489,212 (281,008) 23,028,863 Six months ended June 30, 2022 Loan Servicing and Systems Education Technology, Services, and Payment Processing Asset Nelnet Bank Corporate and Other Activities Eliminations Total Total interest income $ 313 1,213 258,994 8,241 10,227 (2,205) 276,783 Interest expense 44 — 115,711 2,494 5,678 (2,205) 121,721 Net interest income 269 1,213 143,283 5,747 4,549 — 155,062 Less provision (negative provision) for loan losses — — 7,963 1,011 — — 8,974 Net interest income after provision for loan losses 269 1,213 135,320 4,736 4,549 — 146,088 Other income/expense: Loan servicing and systems revenue 261,241 — — — — — 261,241 Intersegment revenue 16,860 10 — — — (16,870) — Education technology, services, and payment processing revenue — 203,317 — — — — 203,317 Other 1,350 — 11,644 1,659 7,872 — 22,524 Gain on sale of loans — — 2,989 — — — 2,989 Impairment expense and provision for beneficial interests, net — — — — (6,284) — (6,284) Derivative settlements, net — — 1,814 — — — 1,814 Derivative market value adjustments, net — — 186,135 — — — 186,135 Total other income/expense 279,451 203,327 202,582 1,659 1,588 (16,870) 671,736 Cost of services — 66,397 — — — — 66,397 Operating expenses: Salaries and benefits 175,192 63,406 1,205 3,268 47,742 — 290,813 Depreciation and amortization 10,272 5,013 — 7 19,914 — 35,206 Other expenses 29,721 12,514 6,576 1,584 26,045 — 76,439 Intersegment expenses, net 38,955 9,410 17,344 102 (48,941) (16,870) — Total operating expenses 254,140 90,343 25,125 4,961 44,760 (16,870) 402,458 Income (loss) before income taxes 25,580 47,800 312,777 1,434 (38,623) — 348,969 Income tax (expense) benefit (6,139) (11,472) (75,066) (328) 11,826 — (81,180) Net income (loss) 19,441 36,328 237,711 1,106 (26,797) — 267,789 Net loss attributable to noncontrolling interests — 53 — — 3,934 — 3,987 Net income (loss) attributable to Nelnet, Inc. $ 19,441 36,381 237,711 1,106 (22,863) — 271,776 Total assets as of June 30, 2022 $ 240,437 546,235 17,388,228 864,659 2,273,216 (688,762) 20,624,013 Six months ended June 30, 2021 Loan Servicing and Systems Education Technology, Services, and Payment Processing Asset Nelnet Bank Corporate and Other Activities Eliminations Total Total interest income $ 63 473 256,367 3,418 2,770 (405) 262,686 Interest expense 47 — 75,620 586 1,916 (405) 77,764 Net interest income 16 473 180,747 2,832 854 — 184,922 Less provision (negative provision) for loan losses — — (17,165) 491 — — (16,674) Net interest income after provision for loan losses 16 473 197,912 2,341 854 — 201,596 Other income/expense: Loan servicing and systems revenue 223,611 — — — — — 223,611 Intersegment revenue 16,748 6 — — — (16,754) — Education technology, services, and payment processing revenue — 171,960 — — — — 171,960 Other 1,814 — 2,760 26 13,716 — 18,317 Gain on sale of loans — — 15,271 — — — 15,271 Impairment expense and provision for beneficial interests, net — — 2,436 — (500) — 1,936 Derivative settlements, net — — (9,678) — — — (9,678) Derivative market value adjustments, net — — 37,194 — — — 37,194 Total other income/expense 242,173 171,966 47,983 26 13,216 (16,754) 458,611 Cost of services — 48,728 — — — — 48,728 Operating expenses: Salaries and benefits 134,846 53,035 1,051 3,065 42,761 — 234,759 Depreciation and amortization 16,166 6,027 — — 18,225 — 40,419 Other expenses 26,557 9,259 7,344 781 25,346 — 69,286 Intersegment expenses, net 33,024 7,184 16,976 40 (40,470) (16,754) — Total operating expenses 210,593 75,505 25,371 3,886 45,862 (16,754) 344,464 Income (loss) before income taxes 31,596 48,206 220,524 (1,519) (31,792) — 267,015 Income tax (expense) benefit (7,583) (11,570) (52,926) 351 10,630 — (61,098) Net income (loss) 24,013 36,636 167,598 (1,168) (21,162) — 205,917 Net loss attributable to noncontrolling interests — — — — 1,548 — 1,548 Net income (loss) attributable to Nelnet, Inc. $ 24,013 36,636 167,598 (1,168) (19,614) — 207,465 Total assets as of June 30, 2021 $ 205,214 424,079 20,783,755 407,611 1,489,212 (281,008) 23,028,863

Disaggregated Revenue (Tables)

Disaggregated Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Loan Servicing and Systems Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Government servicing $ 98,815 79,239 207,940 157,413 Private education and consumer loan servicing 12,122 12,816 24,995 21,364 FFELP servicing 4,011 4,703 8,259 9,373 Software services 7,907 7,374 15,308 15,827 Outsourced services and other 2,018 7,962 4,739 19,634 Loan servicing and systems revenue $ 124,873 112,094 261,241 223,611 Education Technology, Services, and Payment Processing Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Tuition payment plan services $ 27,637 26,538 58,352 56,088 Payment processing 27,968 25,008 66,039 58,046 Education technology and services 34,956 24,930 78,207 57,457 Other 470 226 719 369 Education technology, services, and payment processing revenue $ 91,031 76,702 203,317 171,960
Schedule of Other Income, by Component	The following table provides the components of "other" in "other income/expense" on the consolidated statements of income: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Income/gains from investments, net $ 18,127 15,591 29,983 24,089 Borrower late fee income 2,436 744 4,867 1,184 ALLO preferred return 2,140 2,020 4,257 4,342 Administration/sponsor fee income 2,012 — 4,134 — Investment advisory services 1,482 1,145 2,764 3,842 Loss from ALLO voting membership interest investment (16,941) 1,094 (30,071) (21,125) Loss from solar investments (1,854) (2,302) (2,884) (3,982) Other 5,245 4,629 9,474 9,967 $ 12,647 22,921 22,524 18,317

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
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. As of June 30, 2022 As of December 31, 2021 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Investments: FFELP loan asset-backed debt securities - available-for-sale $ — 809,635 809,635 — 494,682 494,682 Private education loan asset-backed debt securities - available-for-sale — 338,441 338,441 — 412,552 412,552 Other debt securities - available-for-sale 100 146,361 146,461 100 22,335 22,435 Equity securities 7,298 — 7,298 63,154 — 63,154 Equity securities measured at net asset value (a) 29,647 8,832 Total investments 7,398 1,294,437 1,331,482 63,254 929,569 1,001,655 Total assets $ 7,398 1,294,437 1,331,482 63,254 929,569 1,001,655 (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 of Financial Instruments	The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets: As of June 30, 2022 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 16,533,011 16,135,653 — — 16,533,011 Accrued loan interest receivable 780,691 780,691 — 780,691 — Cash and cash equivalents 128,499 128,499 128,499 — — Investments (at fair value) 1,331,482 1,331,482 7,398 1,294,437 — Beneficial interest in loan securitizations 137,726 127,805 — — 137,726 Restricted cash 754,693 754,693 754,693 — — Restricted cash – due to customers 290,850 290,850 290,850 — — Financial liabilities: Bonds and notes payable 15,765,820 16,115,269 — 15,765,820 — Accrued interest payable 12,963 12,963 — 12,963 — Bank deposits 566,293 588,474 208,003 358,290 — Due to customers 409,476 409,476 409,476 — — As of December 31, 2021 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 18,576,272 17,546,645 — — 18,576,272 Accrued loan interest receivable 788,552 788,552 — 788,552 — Cash and cash equivalents 125,563 125,563 125,563 — — Investments (at fair value) 1,001,655 1,001,655 63,254 929,569 — Beneficial interest in loan securitizations 142,391 120,142 — — 142,391 Restricted cash 741,981 741,981 741,981 — — Restricted cash – due to customers 326,645 326,645 326,645 — — Financial liabilities: Bonds and notes payable 17,819,902 17,631,089 — 17,819,902 — Accrued interest payable 4,566 4,566 — 4,566 — Bank deposits 342,463 344,315 184,897 157,566 — Due to customers 366,002 366,002 366,002 — —

Loans and Accrued Interest Re_3

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Loans Receivable and Accrued Interest Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 780,691		$ 788,552
Loan discount, net of unamortized loan premiums and deferred origination costs	(22,613)		(25,933)
Allowance for loan losses	(120,424)	$ (117,825)	(127,113)	$ (145,719)	$ (157,394)	$ (175,698)
Financing receivable, after allowance for credit loss	16,916,344		18,335,197
Non-Nelnet Bank loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	15,855,137		17,441,790
Allowance for loan losses	(118,422)		(126,005)
Federally insured loans - Non-Nelnet Bank:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	15,429,611		17,091,047	18,938,864
Accrued interest receivable	775,337		784,716	830,973
Loan discount, net of unamortized loan premiums and deferred origination costs	(26,674)		(28,309)	(24,129)
Allowance for loan losses	(92,593)	(95,995)	(103,381)	(120,802)	(121,846)	(128,590)
Financing receivable, after allowance for credit loss	16,085,681		17,744,073	19,624,906
Federally insured loans - Non-Nelnet Bank: | Stafford and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	3,548,901		3,904,000
Federally insured loans - Non-Nelnet Bank: | Consolidation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	11,880,710		13,187,047
Private education loans - Non-Nelnet Bank:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	272,943		299,442	350,094
Accrued interest receivable	2,058		1,960	2,360
Loan discount, net of unamortized loan premiums and deferred origination costs	94		(1,123)	(1,547)
Allowance for loan losses	(15,253)	(14,622)	(16,143)	(19,403)	(20,670)	(19,529)
Financing receivable, after allowance for credit loss	259,842		284,136	331,504
Consumer and other loans - Non-Nelnet Bank:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	152,583		51,301	42,767
Accrued interest receivable	1,376		396	328
Loan discount, net of unamortized loan premiums and deferred origination costs	(1,965)		913	377
Allowance for loan losses	(10,576)	(5,710)	(6,481)	(4,702)	(14,134)	(27,256)
Financing receivable, after allowance for credit loss	141,418		46,129	38,770
Nelnet Bank loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	423,553		257,901
Allowance for loan losses	(2,002)		(1,108)
Federally insured loans - Nelnet Bank:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	77,428		88,011	97,167
Accrued interest receivable	1,381		1,216	1,179
Loan discount, net of unamortized loan premiums and deferred origination costs	23		26	29
Allowance for loan losses	(258)	(247)	(268)	(245)	0	0
Financing receivable, after allowance for credit loss	78,574		88,985	98,130
Private education loans - Nelnet Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	346,125		169,890	93,404
Accrued interest receivable	539		264	149
Loan discount, net of unamortized loan premiums and deferred origination costs	5,909		2,560	1,374
Allowance for loan losses	(1,744)	$ (1,251)	(840)	(567)	$ (744)	$ (323)
Financing receivable, after allowance for credit loss	$ 350,829		$ 171,874	$ 94,360

Loans and Accrued Interest Re_4

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Allowance for Loan Losses as a Percentage of the Ending Balance (Details)	Jun. 30, 2022	Dec. 31, 2021
Federally insured loans - Non-Nelnet Bank:
Financing Receivable, Credit Ratio [Line Items]
Allowance for loan losses as a percentage of the ending balance	0.60%	0.60%
Allowance for loan losses as a percentage of the risk sharing component, not covered by the federal guaranty	21.80%	22.20%
Private education loans - Non-Nelnet Bank:
Financing Receivable, Credit Ratio [Line Items]
Allowance for loan losses as a percentage of the ending balance	5.59%	5.39%
Consumer and other loans - Non-Nelnet Bank:
Financing Receivable, Credit Ratio [Line Items]
Allowance for loan losses as a percentage of the ending balance	6.93%	12.63%
Federally insured loans - Nelnet Bank:
Financing Receivable, Credit Ratio [Line Items]
Allowance for loan losses as a percentage of the ending balance	0.33%	0.30%
Allowance for loan losses as a percentage of the risk sharing component, not covered by the federal guaranty	13.20%	12.10%
Private education loans - Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Allowance for loan losses as a percentage of the ending balance	0.50%	0.49%

Loans and Accrued Interest Re_5

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Narrative (Details) - USD ($) $ in Thousands		6 Months Ended
	Jan. 26, 2022	Jun. 30, 2022
Consumer and other loans - Non-Nelnet Bank:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sale of financing receivable	$ 18,100
Loans sold, gain	$ 3,000
Residual interest received on sale of financing receivable	6.60%
Consumer Portfolio Segment, Private Education Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Liability related to unfunded private education loan commitments		$ 36
Unfunded private education loan commitments		3,000
Provision for loan losses		$ 24

Loans and Accrued Interest Re_6

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 117,825	$ 157,394	$ 127,113	$ 175,698
Provision (negative provision) for loan losses	9,409	374	8,950	(16,674)
Charge-offs	(7,101)	(3,039)	(14,113)	(5,543)
Recoveries	270	374	614	822
Initial allowance on loans purchased with credit deterioration	21	525	144	1,325
Loan sales	0	(9,909)	(2,284)	(9,909)
Balance at end of period	120,424	145,719	120,424	145,719
Par value of loans purchased with deteriorated credit quality	1,600	34,700	10,800	88,700
Federally insured loans - Non-Nelnet Bank:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	95,995	121,846	103,381	128,590
Provision (negative provision) for loan losses	2,365	(397)	(383)	(7,880)
Charge-offs	(5,788)	(1,172)	(10,549)	(1,233)
Recoveries	0	0	0	0
Initial allowance on loans purchased with credit deterioration	21	525	144	1,325
Loan sales	0	0	0	0
Balance at end of period	92,593	120,802	92,593	120,802
Private education loans - Non-Nelnet Bank:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	14,622	20,670	16,143	19,529
Provision (negative provision) for loan losses	1,217	(1,004)	817	427
Charge-offs	(707)	(403)	(2,006)	(896)
Recoveries	118	139	295	341
Initial allowance on loans purchased with credit deterioration	0	0	0	0
Loan sales	3	1	4	2
Balance at end of period	15,253	19,403	15,253	19,403
Consumer and other loans - Non-Nelnet Bank:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	5,710	14,134	6,481	27,256
Provision (negative provision) for loan losses	5,245	1,706	7,529	(9,712)
Charge-offs	(531)	(1,464)	(1,469)	(3,414)
Recoveries	152	235	319	481
Initial allowance on loans purchased with credit deterioration	0	0	0	0
Loan sales	0	(9,909)	(2,284)	(9,909)
Balance at end of period	10,576	4,702	10,576	4,702
Federally insured loans - Nelnet Bank:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	247	0	268	0
Provision (negative provision) for loan losses	13	245	(8)	245
Charge-offs	(2)	0	(2)	0
Recoveries	0	0	0	0
Initial allowance on loans purchased with credit deterioration	0	0	0	0
Loan sales	0	0	0	0
Balance at end of period	258	245	258	245
Private education loans - Nelnet Bank
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	1,251	744	840	323
Provision (negative provision) for loan losses	569	(176)	995	246
Charge-offs	(73)	0	(87)	0
Recoveries	0	0	0	0
Initial allowance on loans purchased with credit deterioration	0	0	0	0
Loan sales	(3)	(1)	(4)	(2)
Balance at end of period	$ 1,744	$ 567	$ 1,744	$ 567

Loans and Accrued Interest Re_7

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Loan Status and Delinquencies (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Loans in repayment status:
Accrued interest receivable	$ 780,691		$ 788,552
(Loan discount, net of unamortized premiums) Loan premium	(22,613)		(25,933)
Allowance for loan losses	(120,424)	$ (117,825)	(127,113)	$ (145,719)	$ (157,394)	$ (175,698)
Financing receivable, after allowance for credit loss	16,916,344		18,335,197
Federally insured loans - Non-Nelnet Bank:
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 763,957		$ 829,624	$ 955,227
Loans in-school/grace/deferment, percent	4.90%		4.90%	5%
Loans in forbearance	$ 1,246,882		$ 1,118,667	$ 2,079,368
Loans in forbearance, percent	8.10%		6.50%	11%
Loans in repayment status:
Loans receivable, gross	$ 15,429,611		$ 17,091,047	$ 18,938,864
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 13,418,772		$ 15,142,756	$ 15,904,269
Loans in repayment, percent	87%		88.60%	84%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 775,337		$ 784,716	$ 830,973
(Loan discount, net of unamortized premiums) Loan premium	(26,674)		(28,309)	(24,129)
Allowance for loan losses	(92,593)	(95,995)	(103,381)	(120,802)	(121,846)	(128,590)
Financing receivable, after allowance for credit loss	16,085,681		17,744,073	19,624,906
Federally insured loans - Non-Nelnet Bank: | Loans current
Loans in repayment status:
Loans receivable, gross	$ 11,551,817		$ 12,847,685	$ 13,995,297
Loans current, percentage	86.10%		84.90%	88%
Federally insured loans - Non-Nelnet Bank: | Loans delinquent 31-60 days
Loans in repayment status:
Loans receivable, gross	$ 464,234		$ 895,656	$ 580,602
Loans past due, percentage	3.50%		5.90%	3.70%
Federally insured loans - Non-Nelnet Bank: | Loans delinquent 61-90 days
Loans in repayment status:
Loans receivable, gross	$ 309,252		$ 352,449	$ 262,353
Loans past due, percentage	2.30%		2.30%	1.60%
Federally insured loans - Non-Nelnet Bank: | Loans delinquent 91-120 days
Loans in repayment status:
Loans receivable, gross	$ 187,452		$ 251,075	$ 104,124
Loans past due, percentage	1.40%		1.70%	0.70%
Federally insured loans - Non-Nelnet Bank: | Loans delinquent 121-270 days
Loans in repayment status:
Loans receivable, gross	$ 638,189		$ 592,449	$ 398,965
Loans past due, percentage	4.70%		3.90%	2.50%
Federally insured loans - Non-Nelnet Bank: | Loans delinquent 271 days or greater
Loans in repayment status:
Loans receivable, gross	$ 267,828		$ 203,442	$ 562,928
Loans past due, percentage	2%		1.30%	3.50%
Private education loans - Non-Nelnet Bank:
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 15,403		$ 9,661	$ 10,195
Loans in-school/grace/deferment, percent	5.60%		3.20%	2.90%
Loans in forbearance	$ 2,447		$ 3,601	$ 3,884
Loans in forbearance, percent	0.90%		1.20%	1.10%
Loans in repayment status:
Loans receivable, gross	$ 272,943		$ 299,442	$ 350,094
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 255,093		$ 286,180	$ 336,015
Loans in repayment, percent	93.50%		95.60%	96%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 2,058		$ 1,960	$ 2,360
(Loan discount, net of unamortized premiums) Loan premium	94		(1,123)	(1,547)
Allowance for loan losses	(15,253)	(14,622)	(16,143)	(19,403)	(20,670)	(19,529)
Financing receivable, after allowance for credit loss	259,842		284,136	331,504
Private education loans - Non-Nelnet Bank: | Loans current
Loans in repayment status:
Loans receivable, gross	$ 250,268		$ 280,457	$ 330,097
Loans current, percentage	98.10%		98%	98.30%
Private education loans - Non-Nelnet Bank: | Loans delinquent 31-60 days
Loans in repayment status:
Loans receivable, gross	$ 1,980		$ 2,403	$ 3,962
Loans past due, percentage	0.80%		0.80%	1.20%
Private education loans - Non-Nelnet Bank: | Loans delinquent 61-90 days
Loans in repayment status:
Loans receivable, gross	$ 782		$ 976	$ 818
Loans past due, percentage	0.30%		0.30%	0.20%
Private education loans - Non-Nelnet Bank: | Loans delinquent 91 days or greater
Loans in repayment status:
Loans receivable, gross	$ 2,063		$ 2,344	$ 1,138
Loans past due, percentage	0.80%		0.90%	0.30%
Consumer and other loans - Non-Nelnet Bank:
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 64		$ 43	$ 38
Loans in-school/grace/deferment, percent	0%		0.10%	0.10%
Loans in repayment status:
Loans receivable, gross	$ 152,583		$ 51,301	$ 42,767
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 152,519		$ 51,258	$ 42,729
Loans in repayment, percent	100%		99.90%	99.90%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 1,376		$ 396	$ 328
(Loan discount, net of unamortized premiums) Loan premium	(1,965)		913	377
Allowance for loan losses	(10,576)	(5,710)	(6,481)	(4,702)	(14,134)	(27,256)
Financing receivable, after allowance for credit loss	141,418		46,129	38,770
Consumer and other loans - Non-Nelnet Bank: | Loans current
Loans in repayment status:
Loans receivable, gross	$ 150,812		$ 49,697	$ 41,039
Loans current, percentage	98.90%		97%	96.10%
Consumer and other loans - Non-Nelnet Bank: | Loans delinquent 31-60 days
Loans in repayment status:
Loans receivable, gross	$ 515		$ 414	$ 387
Loans past due, percentage	0.30%		0.80%	0.90%
Consumer and other loans - Non-Nelnet Bank: | Loans delinquent 61-90 days
Loans in repayment status:
Loans receivable, gross	$ 435		$ 322	$ 484
Loans past due, percentage	0.30%		0.60%	1.10%
Consumer and other loans - Non-Nelnet Bank: | Loans delinquent 91 days or greater
Loans in repayment status:
Loans receivable, gross	$ 757		$ 825	$ 819
Loans past due, percentage	0.50%		1.60%	1.90%
Federally insured loans - Nelnet Bank:
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 283		$ 330	$ 103
Loans in-school/grace/deferment, percent	0.40%		0.40%	0.10%
Loans in forbearance	$ 1,029		$ 1,057	$ 1,026
Loans in forbearance, percent	1.30%		1.20%	1.10%
Loans in repayment status:
Loans receivable, gross	$ 77,428		$ 88,011	$ 97,167
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 76,116		$ 86,624	$ 96,038
Loans in repayment, percent	98.30%		98.40%	98.80%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 1,381		$ 1,216	$ 1,179
(Loan discount, net of unamortized premiums) Loan premium	23		26	29
Allowance for loan losses	(258)	(247)	(268)	(245)	0	0
Financing receivable, after allowance for credit loss	78,574		88,985	98,130
Federally insured loans - Nelnet Bank: | Loans current
Loans in repayment status:
Loans receivable, gross	$ 74,883		$ 85,599	$ 95,402
Loans current, percentage	98.40%		98.80%	99.30%
Federally insured loans - Nelnet Bank: | Loans delinquent 30-59 days
Loans in repayment status:
Loans receivable, gross	$ 587		$ 816	$ 593
Loans past due, percentage	0.80%		1%	0.60%
Federally insured loans - Nelnet Bank: | Loans delinquent 60-89 days
Loans in repayment status:
Loans receivable, gross	$ 165		$ 0	$ 43
Loans past due, percentage	0.20%		0%	0.10%
Federally insured loans - Nelnet Bank: | Loans delinquent 90-119 days
Loans in repayment status:
Loans receivable, gross	$ 245		$ 0	$ 0
Loans past due, percentage	0.30%		0%	0%
Federally insured loans - Nelnet Bank: | Loans delinquent 120-270 days
Loans in repayment status:
Loans receivable, gross	$ 236		$ 209	$ 0
Loans past due, percentage	0.30%		0.20%	0%
Federally insured loans - Nelnet Bank: | Loans delinquent 271 days or greater
Loans in repayment status:
Loans receivable, gross	$ 0		$ 0	$ 0
Loans past due, percentage	0%		0%	0%
Private education loans - Nelnet Bank
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 1,160		$ 150	$ 82
Loans in-school/grace/deferment, percent	0.30%		0.10%	0.10%
Loans in forbearance	$ 1,236		$ 460	$ 133
Loans in forbearance, percent	0.40%		0.30%	0.10%
Loans in repayment status:
Loans receivable, gross	$ 346,125		$ 169,890	$ 93,404
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 343,729		$ 169,280	$ 93,189
Loans in repayment, percent	99.30%		99.60%	99.80%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 539		$ 264	$ 149
(Loan discount, net of unamortized premiums) Loan premium	5,909		2,560	1,374
Allowance for loan losses	(1,744)	$ (1,251)	(840)	(567)	$ (744)	$ (323)
Financing receivable, after allowance for credit loss	350,829		171,874	94,360
Private education loans - Nelnet Bank | Loans current
Loans in repayment status:
Loans receivable, gross	$ 343,148		$ 169,157	$ 93,189
Loans current, percentage	99.80%		99.90%	100%
Private education loans - Nelnet Bank | Loans delinquent 30-59 days
Loans in repayment status:
Loans receivable, gross	$ 169		$ 51	$ 0
Loans past due, percentage	0.10%		0%	0%
Private education loans - Nelnet Bank | Loans delinquent 60-89 days
Loans in repayment status:
Loans receivable, gross	$ 412		$ 0	$ 0
Loans past due, percentage	0.10%		0%	0%
Private education loans - Nelnet Bank | Loans delinquent 90 days or greater
Loans in repayment status:
Loans receivable, gross	$ 0		$ 72	$ 0
Loans past due, percentage	0%		0.10%	0%

Loans and Accrued Interest Re_8

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Nelnet Bank's Private Education Loans by FICO Score at Origination (Details) - Private education loans - Nelnet Bank - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	$ 193,682	$ 159,204
Fiscal year before current fiscal year	143,105	10,686
Fiscal year two years before current fiscal year	9,338
Total loans	346,125	169,890	$ 93,404
Less than 705
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	4,042	6,481
Fiscal year before current fiscal year	5,627	100
Fiscal year two years before current fiscal year	95
Total loans	9,764	6,581
705 - 734
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	18,060	11,697
Fiscal year before current fiscal year	10,959	276
Fiscal year two years before current fiscal year	264
Total loans	29,283	11,973
735 - 764
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	31,516	18,611
Fiscal year before current fiscal year	17,165	1,072
Fiscal year two years before current fiscal year	1,007
Total loans	49,688	19,683
765 - 794
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	54,493	36,274
Fiscal year before current fiscal year	33,080	1,467
Fiscal year two years before current fiscal year	1,353
Total loans	88,926	37,741
Greater than 794
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	85,571	86,141
Fiscal year before current fiscal year	76,274	7,771
Fiscal year two years before current fiscal year	6,619
Total loans	$ 168,464	$ 93,912

Loans and Accrued Interest Re_9

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Loans by Year of Origination (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Accrued interest receivable	$ 780,691		$ 788,552
(Loan discount, net of unamortized premiums) Loan premium	(22,613)		(25,933)
Allowance for loan losses	(120,424)	$ (117,825)	(127,113)	$ (145,719)	$ (157,394)	$ (175,698)
Financing receivable, after allowance for credit loss	16,916,344		18,335,197
Private education loans - Non-Nelnet Bank:
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	5,548
2021	10,409
2020	59,545
2019	48,269
2018	457
Prior years	148,715
Total loans	272,943		299,442	350,094
Accrued interest receivable	2,058		1,960	2,360
(Loan discount, net of unamortized premiums) Loan premium	94		(1,123)	(1,547)
Allowance for loan losses	(15,253)	(14,622)	(16,143)	(19,403)	(20,670)	(19,529)
Financing receivable, after allowance for credit loss	259,842		284,136	331,504
Private education loans - Non-Nelnet Bank: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	250,268		280,457	330,097
Private education loans - Non-Nelnet Bank: | Loans delinquent 31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,980		2,403	3,962
Private education loans - Non-Nelnet Bank: | Loans delinquent 61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	782		976	818
Private education loans - Non-Nelnet Bank: | Loans delinquent 91 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	2,063		2,344	1,138
Private education loans - Non-Nelnet Bank: | Loans in school/grace/deferment
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	1,601
2021	7,311
2020	1,784
2019	3,093
2018	0
Prior years	1,614
Total loans	15,403
Private education loans - Non-Nelnet Bank: | Loans in forbearance
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	0
2021	0
2020	368
2019	632
2018	47
Prior years	1,400
Total loans	2,447
Private education loans - Non-Nelnet Bank: | Loans in repayment status:
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	3,947
2021	3,098
2020	57,393
2019	44,544
2018	410
Prior years	145,701
Total loans	255,093
Private education loans - Non-Nelnet Bank: | Loans in repayment status: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	3,947
2021	3,071
2020	57,126
2019	44,044
2018	410
Prior years	141,670
Total loans	250,268
Private education loans - Non-Nelnet Bank: | Loans in repayment status: | Loans delinquent 31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	0
2021	0
2020	104
2019	421
2018	0
Prior years	1,455
Total loans	1,980
Private education loans - Non-Nelnet Bank: | Loans in repayment status: | Loans delinquent 61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	0
2021	20
2020	52
2019	0
2018	0
Prior years	710
Total loans	782
Private education loans - Non-Nelnet Bank: | Loans in repayment status: | Loans delinquent 91 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	0
2021	7
2020	111
2019	79
2018	0
Prior years	1,866
Total loans	2,063
Consumer and other loans - Non-Nelnet Bank:
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	102,288
2021	41,342
2020	1,921
2019	3,420
2018	3,572
Prior years	40
Total loans	152,583		51,301	42,767
Accrued interest receivable	1,376		396	328
(Loan discount, net of unamortized premiums) Loan premium	(1,965)		913	377
Allowance for loan losses	(10,576)	(5,710)	(6,481)	(4,702)	(14,134)	(27,256)
Financing receivable, after allowance for credit loss	141,418		46,129	38,770
Consumer and other loans - Non-Nelnet Bank: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	150,812		49,697	41,039
Consumer and other loans - Non-Nelnet Bank: | Loans delinquent 31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	515		414	387
Consumer and other loans - Non-Nelnet Bank: | Loans delinquent 61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	435		322	484
Consumer and other loans - Non-Nelnet Bank: | Loans delinquent 91 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	757		825	819
Consumer and other loans - Non-Nelnet Bank: | Loans in school/grace/deferment
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	16
2021	38
2020	0
2019	0
2018	10
Prior years	0
Total loans	64
Consumer and other loans - Non-Nelnet Bank: | Loans in repayment status:
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	102,272
2021	41,304
2020	1,921
2019	3,420
2018	3,562
Prior years	40
Total loans	152,519
Consumer and other loans - Non-Nelnet Bank: | Loans in repayment status: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	101,890
2021	40,772
2020	1,865
2019	3,118
2018	3,130
Prior years	37
Total loans	150,812
Consumer and other loans - Non-Nelnet Bank: | Loans in repayment status: | Loans delinquent 31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	163
2021	219
2020	26
2019	60
2018	44
Prior years	3
Total loans	515
Consumer and other loans - Non-Nelnet Bank: | Loans in repayment status: | Loans delinquent 61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	151
2021	194
2020	14
2019	46
2018	30
Prior years	0
Total loans	435
Consumer and other loans - Non-Nelnet Bank: | Loans in repayment status: | Loans delinquent 91 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	68
2021	119
2020	16
2019	196
2018	358
Prior years	0
Total loans	757
Private education loans - Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	193,682		159,204
2021	143,105		10,686
2020	9,338
2019	0
2018	0
Prior years	0
Total loans	346,125		169,890	93,404
Accrued interest receivable	539		264	149
(Loan discount, net of unamortized premiums) Loan premium	5,909		2,560	1,374
Deferred origination costs	5,909
Allowance for loan losses	(1,744)	$ (1,251)	(840)	(567)	$ (744)	$ (323)
Financing receivable, after allowance for credit loss	350,829		171,874	94,360
Private education loans - Nelnet Bank | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	343,148		$ 169,157	$ 93,189
Private education loans - Nelnet Bank | Loans in school/grace/deferment
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	863
2021	297
2020	0
2019	0
2018	0
Prior years	0
Total loans	1,160
Private education loans - Nelnet Bank | Loans in forbearance
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	665
2021	440
2020	131
2019	0
2018	0
Prior years	0
Total loans	1,236
Private education loans - Nelnet Bank | Loans in repayment status:
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	192,154
2021	142,368
2020	9,207
2019	0
2018	0
Prior years	0
Total loans	343,729
Private education loans - Nelnet Bank | Loans in repayment status: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	192,101
2021	141,840
2020	9,207
2019	0
2018	0
Prior years	0
Total loans	343,148
Private education loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	0
2021	169
2020	0
2019	0
2018	0
Prior years	0
Total loans	169
Private education loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	53
2021	359
2020	0
2019	0
2018	0
Prior years	0
Total loans	412
Private education loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 91 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2022	0
2021	0
2020	0
2019	0
2018	0
Prior years	0
Total loans	$ 0

Bonds and Notes Payable - Outst

Bonds and Notes Payable - Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 16,286,610	$ 17,824,087
Discount on bonds and notes payable and debt issuance costs	(171,341)	(192,998)
Bonds and notes payable, net	16,115,269	17,631,089
Unsecured line of credit
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 0	$ 0
Interest rate	0%	0%
Participation agreement
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 393,480	$ 253,969
Interest rate	2.41%	0.78%
Repurchase agreements
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 500,690	$ 483,848
Secured line of credit
Debt Instrument [Line Items]
Bonds and notes payable, gross		$ 5,000
Interest rate		1.91%
Federally insured | Bonds and notes based on indices
Debt Instrument [Line Items]
Bonds and notes payable, gross	14,323,434	$ 15,887,295
Federally insured | Bonds and notes based on auction
Debt Instrument [Line Items]
Bonds and notes payable, gross	221,385	248,550
Federally insured | Variable-rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	14,544,819	16,135,845
Federally insured | Fixed rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	703,600	772,935
Federally insured | Warehouse facilities
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 4,618	$ 5,048
Interest rate	1.64%	0.21%
Private education | Variable-rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 24,737	$ 31,818
Private education | Fixed rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	25,200	28,613
Private education | Warehouse facilities
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 89,466	$ 107,011
Interest rate	1.71%	0.24%
Minimum | Repurchase agreements
Debt Instrument [Line Items]
Interest rate	0.97%	0.66%
Minimum | Federally insured | Bonds and notes based on indices
Debt Instrument [Line Items]
Interest rate	1.22%	0.23%
Minimum | Federally insured | Bonds and notes based on auction
Debt Instrument [Line Items]
Interest rate	0%	0%
Minimum | Federally insured | Fixed rate bonds and notes
Debt Instrument [Line Items]
Interest rate	1.42%	1.42%
Minimum | Private education | Variable-rate bonds and notes
Debt Instrument [Line Items]
Interest rate	3.10%	1.65%
Minimum | Private education | Fixed rate bonds and notes
Debt Instrument [Line Items]
Interest rate	3.60%	3.60%
Maximum | Repurchase agreements
Debt Instrument [Line Items]
Interest rate	2.81%	1.46%
Maximum | Federally insured | Bonds and notes based on indices
Debt Instrument [Line Items]
Interest rate	3.62%	2.10%
Maximum | Federally insured | Bonds and notes based on auction
Debt Instrument [Line Items]
Interest rate	2.30%	1.09%
Maximum | Federally insured | Fixed rate bonds and notes
Debt Instrument [Line Items]
Interest rate	3.45%	3.45%
Maximum | Private education | Variable-rate bonds and notes
Debt Instrument [Line Items]
Interest rate	3.37%	1.85%
Maximum | Private education | Fixed rate bonds and notes
Debt Instrument [Line Items]
Interest rate	5.35%	5.35%

Bonds and Notes Payable - Narra

Bonds and Notes Payable - Narrative (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	May 22, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Other borrowing agreement, termination notice period				5 days
Other borrowings, maximum	$ 400,000,000			$ 400,000,000
Repurchase agreements, contractual maturity adjustment, written notice period					180 days
Repurchase agreements, amount collateralized by private education loan asset-backed securities	228,500,000			228,500,000
Additional repurchase agreement, amount collateralized by private education loan asset-backed securities	272,200,000			272,200,000
Decrease in interest on bonds, notes payable, and bank deposits			$ 23,800,000
Repurchased debt during period	36,700,000	$ 19,800,000		55,200,000
Gain (loss) on repurchase of debt instrument	1,000,000	$ (700,000)		1,100,000
Par value of asset-based securities	1,294,537,000			1,294,537,000			$ 929,669,000
Asset-backed securities
Debt Instrument [Line Items]
Par value of asset-based securities	431,200,000			431,200,000
Asset-based securities serving as collateral on secured debt repurchase agreements	206,900,000			206,900,000
Union Bank and Trust Company
Debt Instrument [Line Items]
Amount of participation, student loan asset-backed securities	393,400,000			393,400,000
Warehouse facilities | Federally insured student loans | NFSLW-I
Debt Instrument [Line Items]
Maximum financing amount	25,000,000			25,000,000		$ 60,000,000
Amount outstanding	4,600,000			4,600,000
Amount available	20,400,000			20,400,000
Advanced as equity support	300,000			300,000
Private Loan Warehouse Facility | Warehouse facilities
Debt Instrument [Line Items]
Maximum financing amount	175,000,000			175,000,000
Amount outstanding	89,500,000			89,500,000
Amount available	85,500,000			85,500,000
Advanced as equity support	10,100,000			$ 10,100,000
Private Loan Warehouse Facility | Warehouse facilities | Minimum
Debt Instrument [Line Items]
Advance rate				80%
Private Loan Warehouse Facility | Warehouse facilities | Maximum
Debt Instrument [Line Items]
Advance rate				90%
Unsecured Line of Credit | Line of Credit
Debt Instrument [Line Items]
Amount outstanding	0			$ 0
Amount available	495,000,000			495,000,000
Unsecured Line of Credit | Unsecured line of credit | Line of Credit
Debt Instrument [Line Items]
Maximum financing amount	495,000,000			495,000,000
Higher borrowing capacity option	$ 737,500,000			$ 737,500,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Outstanding Basis Swap (Details) - 1:3 basis swaps - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Notional amount	$ 4,900,000,000	$ 5,900,000,000
2022
Derivative [Line Items]
Notional amount	1,000,000,000	2,000,000,000
2023
Derivative [Line Items]
Notional amount	750,000,000	750,000,000
2024
Derivative [Line Items]
Notional amount	1,750,000,000	1,750,000,000
2026
Derivative [Line Items]
Notional amount	1,150,000,000	1,150,000,000
2027
Derivative [Line Items]
Notional amount	$ 250,000,000	$ 250,000,000

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions		1 Months Ended
	Apr. 28, 2022	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
1:3 basis swaps | London Interbank Offered Rate (LIBOR)
Derivative [Line Items]
Weighted average rate			0.094%	0.091%
Interest Rate Swap | Interest rate swaps - floor income hedges
Derivative [Line Items]
Derivative, notional amount, terminated	$ 1,250	$ 650
Net payment for settlement of terminated derivatives		0.1
Proceeds for settlement of terminated derivatives	68.1
Interest Rate Swap | Interest rate swaps - floor income hedges | 2022
Derivative [Line Items]
Derivative, notional amount, terminated		500
Interest Rate Swap | Interest rate swaps - floor income hedges | 2023
Derivative [Line Items]
Derivative, notional amount, terminated	500	$ 150
Interest Rate Swap | Interest rate swaps - floor income hedges | 2024
Derivative [Line Items]
Derivative, notional amount, terminated	250
Interest Rate Swap | Interest rate swaps - floor income hedges | 2025
Derivative [Line Items]
Derivative, notional amount, terminated	$ 500

Derivative Financial Instrume_5

Derivative Financial Instruments - Interest Rate Swaps, Floor Income Hedge (Details) - Interest rate swaps - floor income hedges - Interest Rate Swap - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Notional amount	$ 3,100,000,000	$ 5,000,000,000
Weighted average fixed rate paid by the Company	0.49%	0.55%
2022
Derivative [Line Items]
Notional amount	$ 0	$ 500,000,000
Weighted average fixed rate paid by the Company	0%	0.94%
2023
Derivative [Line Items]
Notional amount	$ 250,000,000	$ 900,000,000
Weighted average fixed rate paid by the Company	0.32%	0.62%
2024
Derivative [Line Items]
Notional amount	$ 2,250,000,000	$ 2,500,000,000
Weighted average fixed rate paid by the Company	0.35%	0.35%
2025
Derivative [Line Items]
Notional amount	$ 0	$ 500,000,000
Weighted average fixed rate paid by the Company	0%	0.35%
2026
Derivative [Line Items]
Notional amount	$ 500,000,000	$ 500,000,000
Weighted average fixed rate paid by the Company	1.02%	1.02%
2031
Derivative [Line Items]
Notional amount	$ 100,000,000	$ 100,000,000
Weighted average fixed rate paid by the Company	1.53%	1.53%

Derivative Financial Instrume_6

Derivative Financial Instruments - Derivative Impact on Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	$ 4,623	$ (5,374)	$ 1,814	$ (9,678)
Derivative market value adjustments and derivative settlements, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	4,623	(5,374)	1,814	(9,678)
Change in fair value	40,401	(1,615)	186,135	37,194
Derivative market value adjustments and derivative settlements, net - income (expense)	45,024	(6,989)	187,949	27,516
1:3 basis swaps | Derivative market value adjustments and derivative settlements, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	931	(221)	1,327	(240)
Change in fair value	(148)	(1,106)	741	1,693
Interest rate swaps - floor income hedges | Derivative market value adjustments and derivative settlements, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	3,692	(5,153)	487	(9,438)
Change in fair value	$ 40,549	$ (509)	$ 185,394	$ 35,501

Investments and Notes Receiva_3

Investments and Notes Receivable - Summary of Investments (Details) - USD ($)		3 Months Ended		6 Months Ended
	Feb. 25, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Investments (at fair value):
Amortized cost		$ 1,336,442,000		$ 1,336,442,000		$ 917,412,000
Gross unrealized gains		4,533,000		4,533,000		15,217,000
Gross unrealized losses		(46,438,000)		(46,438,000)		(2,960,000)
Fair value		1,294,537,000		1,294,537,000		929,669,000
Equity securities
Fair value		36,945,000		36,945,000		71,986,000
Total investments (at fair value)
Fair value		1,331,482,000		1,331,482,000		1,001,655,000
Other Investments (not measured at fair value):
Other debt securities - held-to-maturity		8,200,000		8,200,000		8,200,000
Notes receivable		33,012,000		33,012,000		0
Total investments (not measured at fair value)		656,968,000		656,968,000		587,264,000
Total investments and notes receivable		1,988,450,000		1,988,450,000		1,588,919,000
Asset -backed securities unrealized loss position		1,100,000,000		1,100,000,000
Asset -backed securities unrealized loss position not due to credit loss		0		0
Equity securities, realized gain		2,140,000	$ 2,020,000	4,257,000	$ 4,342,000
Net loss attributable to noncontrolling interests		2,225,000	854,000	3,987,000	1,548,000
FFELP loan asset-backed debt securities - available-for-sale
Investments (at fair value):
Amortized cost		821,154,000		821,154,000		480,691,000
Gross unrealized gains		4,509,000		4,509,000		14,710,000
Gross unrealized losses		(16,028,000)		(16,028,000)		(719,000)
Fair value		809,635,000		809,635,000		494,682,000
Private education loan asset-backed debt securities - available-for-sale
Investments (at fair value):
Amortized cost		366,602,000		366,602,000		414,286,000
Gross unrealized gains		0		0		507,000
Gross unrealized losses		(28,161,000)		(28,161,000)		(2,241,000)
Fair value		338,441,000		338,441,000		412,552,000
Other debt securities - available-for-sale
Investments (at fair value):
Amortized cost		148,686,000		148,686,000		22,435,000
Gross unrealized gains		24,000		24,000		0
Gross unrealized losses		(2,249,000)		(2,249,000)		0
Fair value		146,461,000		146,461,000		22,435,000
Union Bank and Trust Company
Other Investments (not measured at fair value):
Amount of participation, student loan asset-backed securities		393,400,000		393,400,000
Miscellaneous Investments
Other Investments (not measured at fair value):
Beneficial interest in securitizations		127,805,000		127,805,000		120,142,000
Venture capital and funds: | Miscellaneous Investments
Other Investments (not measured at fair value):
Measurement alternative		159,332,000		159,332,000		157,609,000
Equity method		82,147,000		82,147,000		67,840,000
Total investments (not measured at fair value)		241,479,000		241,479,000		225,449,000
Real estate: | Miscellaneous Investments
Other Investments (not measured at fair value):
Equity method		57,532,000		57,532,000		47,226,000
Notes receivable		5,069,000		5,069,000		0
Total investments (not measured at fair value)		62,601,000		62,601,000		47,226,000
Partnership Interest | Miscellaneous Investments
Other Investments (not measured at fair value):
Equity method		91,832,000		91,832,000		87,247,000
Preferred membership interest and accrued and unpaid preferred return		141,599,000		141,599,000		137,342,000
Total investments (not measured at fair value)		233,431,000		233,431,000		224,589,000
Additional equity investment	$ 34,700,000
Equity securities, realized loss		16,900,000		30,100,000	21,100,000
Equity securities, realized gain			1,100,000
Partnership Interest | Miscellaneous Investments | Change in Liquidation Basis
Other Investments (not measured at fair value):
Equity method			14,000,000		14,000,000
Partnership Interest | Miscellaneous Investments | ALLO
Other Investments (not measured at fair value):
Preferred membership interest and accrued and unpaid preferred return		137,300,000		137,300,000
Equity method investment, accrued and unpaid preferred return		4,300,000		4,300,000
Beneficial interest in private education loan securitizations | Miscellaneous Investments
Other Investments (not measured at fair value):
Beneficial interest in securitizations		77,308,000		77,308,000		66,008,000
Loans corresponding to beneficial interest		650,000,000		650,000,000
Consumer loans | Miscellaneous Investments
Other Investments (not measured at fair value):
Beneficial interest in securitizations		26,197,000		26,197,000		28,366,000
Loans corresponding to beneficial interest		160,000,000		160,000,000
Beneficial interest in federally insured loan securitizations | Miscellaneous Investments
Other Investments (not measured at fair value):
Beneficial interest in securitizations		24,300,000		24,300,000		25,768,000
Loans corresponding to beneficial interest		430,000,000		430,000,000
Solar
Other Investments (not measured at fair value):
Amount funded or committed to fund		241,300,000		241,300,000
Amount funded or committed to fund by partners		71,400,000		71,400,000
Equity method investment, amount committed to fund		51,900,000		51,900,000
Equity method investment, amount committed to fund by partners		43,100,000		43,100,000
Pre-tax loss from equity investment		1,900,000	2,300,000	2,900,000	4,000,000
Net loss attributable to noncontrolling interests		2,000,000	600,000	3,800,000	1,900,000
Solar | Miscellaneous Investments
Other Investments (not measured at fair value):
Total investments (not measured at fair value)		(54,499,000)		(54,499,000)		(42,457,000)
Tax liens, affordable housing, and other | Miscellaneous Investments
Other Investments (not measured at fair value):
Total investments (not measured at fair value)		4,939,000		4,939,000		$ 4,115,000
Preferred Partnership Interest | Miscellaneous Investments
Other Investments (not measured at fair value):
Equity securities, realized gain		$ 2,100,000	$ 2,000,000	$ 4,300,000	$ 4,300,000
Equity method investment, preferred annual return		6.25%		6.25%

Investments and Notes Receiva_4

Investments and Notes Receivable - Narrative (Details) $ in Millions	3 Months Ended
	Jun. 30, 2022 USD ($)
Investments [Abstract]
Impairment charge	$ 5.4

Business Combination - Narrativ

Business Combination - Narrative (Details) - USD ($) $ in Thousands		6 Months Ended
	Apr. 30, 2022	Jun. 30, 2022	Apr. 29, 2022
Business Acquisition [Line Items]
Useful life		82 months
Computer software
Business Acquisition [Line Items]
Useful life		52 months
Customer relationships
Business Acquisition [Line Items]
Useful life		96 months
NGWeb Solutions, LLC
Business Acquisition [Line Items]
Percent ownership acquired	30%
Payments to acquire businesses	$ 9,205
Equity interest previously held			50%
Revaluation gain	15,200
Intangible assets	23,395
NGWeb Solutions, LLC | Computer software
Business Acquisition [Line Items]
Intangible assets	$ 18,800
Useful life	5 years
NGWeb Solutions, LLC | Customer relationships
Business Acquisition [Line Items]
Intangible assets	$ 4,600
Useful life	7 years

Business Combination - Recogniz

Business Combination - Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Excess cost over fair value of net assets acquired (goodwill)		$ 149,117	$ 142,092	$ 142,092
NGWeb Solutions, LLC
Business Acquisition [Line Items]
Cash and cash equivalents	$ 1,885
Accounts receivable	1,315
Property and equipment	800
Other assets	201
Intangible assets	23,395
Excess cost over fair value of net assets acquired (goodwill)	7,025
Other liabilities	(3,937)
Net assets acquired	30,684
Minority interest	(6,137)
Remeasurement of previously held investment	(15,342)
Total consideration paid by the Company	$ 9,205

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life	82 months
Amortizable intangible assets, net	$ 70,086	$ 52,029
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization of intangible assets	$ 47,328	97,398
Weighted average remaining useful life	96 months
Amortizable intangible assets, net	$ 48,552	47,894
Computer software
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization of intangible assets	$ 3,411	3,669
Weighted average remaining useful life	52 months
Amortizable intangible assets, net	$ 21,534	$ 4,135

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization of intangible assets	$ 2.9	$ 8.3	$ 5.3	$ 16.6

Intangible Assets - Future Amor

Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2022 (July 1 - December 31)	$ 7,176
2023	14,243
2024	11,870
2025	9,057
2026	8,930
2027 and thereafter	18,810
Amortizable intangible assets, net	$ 70,086	$ 52,029

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Goodwill [Roll Forward]
Balance at beginning of period	$ 142,092	$ 142,092
Goodwill acquired	7,025	7,025
Balance at end of period	149,117	149,117
Corporate and Other Activities
Goodwill [Roll Forward]
Balance at beginning of period	0	0
Goodwill acquired	0	0
Balance at end of period	0	0
Loan Servicing and Systems | Operating Segments
Goodwill [Roll Forward]
Balance at beginning of period	23,639	23,639
Goodwill acquired	0	0
Balance at end of period	23,639	23,639
Education Technology, Services, and Payment Processing | Operating Segments
Goodwill [Roll Forward]
Balance at beginning of period	76,570	76,570
Goodwill acquired	7,025	7,025
Balance at end of period	83,595	83,595
Asset Generation and Management | Operating Segments
Goodwill [Roll Forward]
Balance at beginning of period	41,883	41,883
Goodwill acquired	0	0
Balance at end of period	41,883	41,883
Nelnet Bank | Operating Segments
Goodwill [Roll Forward]
Balance at beginning of period	0	0
Goodwill acquired	0	0
Balance at end of period	$ 0	$ 0

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc., basic	$ 85,129	$ 83,867	$ 271,776	$ 207,465
Net income attributable to Nelnet, Inc., diluted	$ 85,129	$ 83,867	$ 271,776	$ 207,465
Weighted-average common shares outstanding - basic (in shares)	37,710,214	38,741,486	37,875,108	38,672,902
Weighted-average common shares outstanding - diluted (in shares)	37,710,214	38,741,486	37,875,108	38,672,902
Earnings per share - basic (in dollars per share)	$ 2.26	$ 2.16	$ 7.18	$ 5.36
Earnings per share - diluted (in dollars per share)	$ 2.26	$ 2.16	$ 7.18	$ 5.36
Common shareholders
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc., basic	$ 83,485	$ 82,479	$ 266,735	$ 204,209
Net income attributable to Nelnet, Inc., diluted	$ 83,485	$ 82,479	$ 266,735	$ 204,209
Weighted-average common shares outstanding - basic (in shares)	36,981,990	38,100,092	37,172,606	38,065,869
Weighted-average common shares outstanding - diluted (in shares)	36,981,990	38,100,092	37,172,606	38,065,869
Earnings per share - basic (in dollars per share)	$ 2.26	$ 2.16	$ 7.18	$ 5.36
Earnings per share - diluted (in dollars per share)	$ 2.26	$ 2.16	$ 7.18	$ 5.36
Unvested restricted stock shareholders
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc., basic	$ 1,644	$ 1,388	$ 5,041	$ 3,256
Net income attributable to Nelnet, Inc., diluted	$ 1,644	$ 1,388	$ 5,041	$ 3,256
Weighted-average common shares outstanding - basic (in shares)	728,224	641,394	702,502	607,033
Weighted-average common shares outstanding - diluted (in shares)	728,224	641,394	702,502	607,033
Earnings per share - basic (in dollars per share)	$ 2.26	$ 2.16	$ 7.18	$ 5.36
Earnings per share - diluted (in dollars per share)	$ 2.26	$ 2.16	$ 7.18	$ 5.36

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total interest income	$ 151,587	$ 133,583	$ 276,783	$ 262,686
Interest expense	73,642	49,991	121,721	77,764
Net interest income	77,945	83,592	155,062	184,922
Provision (negative provision) for loan losses	9,409	374	8,974	(16,674)
Net interest income after provision for loan losses	68,536	83,218	146,088	201,596
Other income/expense:
Intersegment revenue	0	0	0	0
Other	12,647	22,921	22,524	18,317
Gain on sale of loans	0	15,271	2,989	15,271
Impairment expense and provision for beneficial interests, net	(6,284)	(500)	(6,284)	1,936
Derivative settlements, net	4,623	(5,374)	1,814	(9,678)
Derivative market value adjustments, net	40,401	(1,615)	186,135	37,194
Total other income/expense	267,291	219,499	671,736	458,611
Cost of services	30,852	21,676	66,397	48,728
Operating expenses:
Salaries and benefits	141,398	118,968	290,813	234,759
Depreciation and amortization	18,250	20,236	35,206	40,419
Other expenses	36,940	32,587	76,439	69,286
Intersegment expenses, net	0	0	0	0
Total operating expenses	196,588	171,791	402,458	344,464
Income before income taxes	108,387	109,250	348,969	267,015
Income tax (expense) benefit	(25,483)	(26,237)	(81,180)	(61,098)
Net income	82,904	83,013	267,789	205,917
Net loss attributable to noncontrolling interests	2,225	854	3,987	1,548
Net income attributable to Nelnet, Inc.	85,129	83,867	271,776	207,465
Total assets	20,624,013	23,028,863	20,624,013	23,028,863	$ 21,678,041
Operating Segments | Loan Servicing and Systems
Segment Reporting Information [Line Items]
Total interest income	246	30	313	63
Interest expense	20	23	44	47
Net interest income	226	7	269	16
Provision (negative provision) for loan losses	0	0	0	0
Net interest income after provision for loan losses	226	7	269	16
Other income/expense:
Intersegment revenue	8,381	8,480	16,860	16,748
Other	611	701	1,350	1,814
Gain on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests, net	0	0	0	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income/expense	133,865	121,275	279,451	242,173
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	83,220	68,388	175,192	134,846
Depreciation and amortization	5,318	7,974	10,272	16,166
Other expenses	13,507	13,273	29,721	26,557
Intersegment expenses, net	18,558	16,134	38,955	33,024
Total operating expenses	120,603	105,769	254,140	210,593
Income before income taxes	13,488	15,513	25,580	31,596
Income tax (expense) benefit	(3,237)	(3,723)	(6,139)	(7,583)
Net income	10,251	11,790	19,441	24,013
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	10,251	11,790	19,441	24,013
Total assets	240,437	205,214	240,437	205,214
Operating Segments | Education Technology, Services, and Payment Processing
Segment Reporting Information [Line Items]
Total interest income	874	210	1,213	473
Interest expense	0	0	0	0
Net interest income	874	210	1,213	473
Provision (negative provision) for loan losses	0	0	0	0
Net interest income after provision for loan losses	874	210	1,213	473
Other income/expense:
Intersegment revenue	7	3	10	6
Other	0	0	0	0
Gain on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests, net	0	0	0	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income/expense	91,038	76,705	203,327	171,966
Cost of services	30,852	21,676	66,397	48,728
Operating expenses:
Salaries and benefits	32,120	27,094	63,406	53,035
Depreciation and amortization	2,698	2,956	5,013	6,027
Other expenses	6,750	4,437	12,514	9,259
Intersegment expenses, net	4,805	3,520	9,410	7,184
Total operating expenses	46,373	38,007	90,343	75,505
Income before income taxes	14,687	17,232	47,800	48,206
Income tax (expense) benefit	(3,525)	(4,136)	(11,472)	(11,570)
Net income	11,162	13,096	36,328	36,636
Net loss attributable to noncontrolling interests	53	0	53	0
Net income attributable to Nelnet, Inc.	11,215	13,096	36,381	36,636
Total assets	546,235	424,079	546,235	424,079
Operating Segments | Asset Generation and Management
Segment Reporting Information [Line Items]
Total interest income	140,396	129,965	258,994	256,367
Interest expense	69,708	48,670	115,711	75,620
Net interest income	70,688	81,295	143,283	180,747
Provision (negative provision) for loan losses	8,827	305	7,963	(17,165)
Net interest income after provision for loan losses	61,861	80,990	135,320	197,912
Other income/expense:
Intersegment revenue	0	0	0	0
Other	5,133	2,316	11,644	2,760
Gain on sale of loans	0	15,271	2,989	15,271
Impairment expense and provision for beneficial interests, net	0	0	0	2,436
Derivative settlements, net	4,623	(5,374)	1,814	(9,678)
Derivative market value adjustments, net	40,401	(1,615)	186,135	37,194
Total other income/expense	50,157	10,598	202,582	47,983
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	614	556	1,205	1,051
Depreciation and amortization	0	0	0	0
Other expenses	3,543	3,567	6,576	7,344
Intersegment expenses, net	8,513	8,549	17,344	16,976
Total operating expenses	12,670	12,672	25,125	25,371
Income before income taxes	99,348	78,916	312,777	220,524
Income tax (expense) benefit	(23,844)	(18,940)	(75,066)	(52,926)
Net income	75,504	59,976	237,711	167,598
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	75,504	59,976	237,711	167,598
Total assets	17,388,228	20,783,755	17,388,228	20,783,755
Operating Segments | Nelnet Bank
Segment Reporting Information [Line Items]
Total interest income	5,212	2,041	8,241	3,418
Interest expense	1,639	392	2,494	586
Net interest income	3,573	1,649	5,747	2,832
Provision (negative provision) for loan losses	582	69	1,011	491
Net interest income after provision for loan losses	2,991	1,580	4,736	2,341
Other income/expense:
Intersegment revenue	0	0	0	0
Other	157	4	1,659	26
Gain on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests, net	0	0	0	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income/expense	157	4	1,659	26
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	1,714	1,578	3,268	3,065
Depreciation and amortization	4	0	7	0
Other expenses	899	237	1,584	781
Intersegment expenses, net	57	37	102	40
Total operating expenses	2,674	1,852	4,961	3,886
Income before income taxes	474	(268)	1,434	(1,519)
Income tax (expense) benefit	(106)	64	(328)	351
Net income	368	(204)	1,106	(1,168)
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	368	(204)	1,106	(1,168)
Total assets	864,659	407,611	864,659	407,611
Corporate and Other Activities
Segment Reporting Information [Line Items]
Total interest income	6,235	1,524	10,227	2,770
Interest expense	3,652	1,093	5,678	1,916
Net interest income	2,583	431	4,549	854
Provision (negative provision) for loan losses	0	0	0	0
Net interest income after provision for loan losses	2,583	431	4,549	854
Other income/expense:
Intersegment revenue	0	0	0	0
Other	6,747	19,900	7,872	13,716
Gain on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests, net	(6,284)	(500)	(6,284)	(500)
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income/expense	463	19,400	1,588	13,216
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	23,729	21,351	47,742	42,761
Depreciation and amortization	10,230	9,305	19,914	18,225
Other expenses	12,241	11,074	26,045	25,346
Intersegment expenses, net	(23,545)	(19,757)	(48,941)	(40,470)
Total operating expenses	22,655	21,973	44,760	45,862
Income before income taxes	(19,609)	(2,142)	(38,623)	(31,792)
Income tax (expense) benefit	5,228	497	11,826	10,630
Net income	(14,381)	(1,645)	(26,797)	(21,162)
Net loss attributable to noncontrolling interests	2,172	854	3,934	1,548
Net income attributable to Nelnet, Inc.	(12,209)	(791)	(22,863)	(19,614)
Total assets	2,273,216	1,489,212	2,273,216	1,489,212
Eliminations
Segment Reporting Information [Line Items]
Total interest income	(1,376)	(187)	(2,205)	(405)
Interest expense	(1,376)	(187)	(2,205)	(405)
Net interest income	0	0	0	0
Provision (negative provision) for loan losses	0	0	0	0
Net interest income after provision for loan losses	0	0	0	0
Other income/expense:
Intersegment revenue	(8,388)	(8,483)	(16,870)	(16,754)
Other	0	0	0	0
Gain on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests, net	0	0	0	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income/expense	(8,388)	(8,483)	(16,870)	(16,754)
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	0	0	0	0
Depreciation and amortization	0	0	0	0
Other expenses	0	0	0	0
Intersegment expenses, net	(8,388)	(8,483)	(16,870)	(16,754)
Total operating expenses	(8,388)	(8,483)	(16,870)	(16,754)
Income before income taxes	0	0	0	0
Income tax (expense) benefit	0	0	0	0
Net income	0	0	0	0
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	0	0	0	0
Total assets	(688,762)	(281,008)	(688,762)	(281,008)
Loan servicing and systems
Other income/expense:
Revenue	124,873	112,094	261,241	223,611
Loan servicing and systems | Operating Segments | Loan Servicing and Systems
Other income/expense:
Revenue	124,873	112,094	261,241	223,611
Loan servicing and systems | Operating Segments | Education Technology, Services, and Payment Processing
Other income/expense:
Revenue	0	0	0	0
Loan servicing and systems | Operating Segments | Asset Generation and Management
Other income/expense:
Revenue	0	0	0	0
Loan servicing and systems | Operating Segments | Nelnet Bank
Other income/expense:
Revenue	0	0	0	0
Loan servicing and systems | Corporate and Other Activities
Other income/expense:
Revenue	0	0	0	0
Loan servicing and systems | Eliminations
Other income/expense:
Revenue	0	0	0	0
Education technology, services, and payment processing
Other income/expense:
Revenue	91,031	76,702	203,317	171,960
Education technology, services, and payment processing | Operating Segments | Loan Servicing and Systems
Other income/expense:
Revenue	0	0	0	0
Education technology, services, and payment processing | Operating Segments | Education Technology, Services, and Payment Processing
Other income/expense:
Revenue	91,031	76,702	203,317	171,960
Education technology, services, and payment processing | Operating Segments | Asset Generation and Management
Other income/expense:
Revenue	0	0	0	0
Education technology, services, and payment processing | Operating Segments | Nelnet Bank
Other income/expense:
Revenue	0	0	0	0
Education technology, services, and payment processing | Corporate and Other Activities
Other income/expense:
Revenue	0	0	0	0
Education technology, services, and payment processing | Eliminations
Other income/expense:
Revenue	$ 0	$ 0	$ 0	$ 0

Disaggregated Revenue - Disaggr

Disaggregated Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Loan servicing and systems revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 124,873	$ 112,094	$ 261,241	$ 223,611
Government servicing
Disaggregation of Revenue [Line Items]
Revenue	98,815	79,239	207,940	157,413
Private education and consumer loan servicing
Disaggregation of Revenue [Line Items]
Revenue	12,122	12,816	24,995	21,364
FFELP servicing
Disaggregation of Revenue [Line Items]
Revenue	4,011	4,703	8,259	9,373
Software services
Disaggregation of Revenue [Line Items]
Revenue	7,907	7,374	15,308	15,827
Outsourced services and other
Disaggregation of Revenue [Line Items]
Revenue	2,018	7,962	4,739	19,634
Education technology, services, and payment processing
Disaggregation of Revenue [Line Items]
Revenue	91,031	76,702	203,317	171,960
Tuition payment plan services
Disaggregation of Revenue [Line Items]
Revenue	27,637	26,538	58,352	56,088
Payment processing
Disaggregation of Revenue [Line Items]
Revenue	27,968	25,008	66,039	58,046
Education technology and services
Disaggregation of Revenue [Line Items]
Revenue	34,956	24,930	78,207	57,457
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 470	$ 226	$ 719	$ 369

Disaggregated Revenue - Other I

Disaggregated Revenue - Other Income (Expense) by Component (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Income/gains from investments, net	$ 18,127	$ 15,591	$ 29,983	$ 24,089
Borrower late fee income	2,436	744	4,867	1,184
ALLO preferred return	2,140	2,020	4,257	4,342
Administration/sponsor fee income	2,012	0	4,134	0
Other	5,245	4,629	9,474	9,967
Total other	12,647	22,921	22,524	18,317
ALLO Voting Membership Interests Investment
Disaggregation of Revenue [Line Items]
Gain (loss) on investments	(16,941)	1,094	(30,071)	(21,125)
Solar
Disaggregation of Revenue [Line Items]
Gain (loss) on investments	(1,854)	(2,302)	(2,884)	(3,982)
Investment advisory services
Disaggregation of Revenue [Line Items]
Investment advisory services	$ 1,482	$ 1,145	$ 2,764	$ 3,842

Fair Value - Fair Value, Assets

Fair Value - Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financial assets:
Fair value	$ 1,331,482	$ 1,001,655
Total assets	1,331,482	1,001,655
FFELP loan asset-backed debt securities - available-for-sale
Financial assets:
Fair value	809,635	494,682
Private education loan asset-backed debt securities - available-for-sale
Financial assets:
Fair value	338,441	412,552
Other debt securities - available-for-sale
Financial assets:
Fair value	146,461	22,435
Equity securities
Financial assets:
Fair value	7,298	63,154
Equity securities measured at net asset value
Financial assets:
Fair value	29,647	8,832
Level 1
Financial assets:
Fair value	7,398	63,254
Total assets	7,398	63,254
Level 1 | FFELP loan asset-backed debt securities - available-for-sale
Financial assets:
Fair value	0	0
Level 1 | Private education loan asset-backed debt securities - available-for-sale
Financial assets:
Fair value	0	0
Level 1 | Other debt securities - available-for-sale
Financial assets:
Fair value	100	100
Level 1 | Equity securities
Financial assets:
Fair value	7,298	63,154
Level 2
Financial assets:
Fair value	1,294,437	929,569
Total assets	1,294,437	929,569
Level 2 | FFELP loan asset-backed debt securities - available-for-sale
Financial assets:
Fair value	809,635	494,682
Level 2 | Private education loan asset-backed debt securities - available-for-sale
Financial assets:
Fair value	338,441	412,552
Level 2 | Other debt securities - available-for-sale
Financial assets:
Fair value	146,361	22,335
Level 2 | Equity securities
Financial assets:
Fair value	$ 0	$ 0

Fair Value - Fair Value of Fina

Fair Value - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Financial assets:
Loans receivable	$ 16,916,344	$ 18,335,197
Accrued loan interest receivable	780,691	788,552
Cash and cash equivalents	128,499	125,563	$ 212,989	$ 121,249
Restricted cash - due to customers	290,850	326,645	$ 247,673	$ 283,971
Financial liabilities:
Accrued interest payable	12,963	4,566
Bank deposits	588,474	344,315
Due to customers	409,476	366,002
Fair value
Financial assets:
Loans receivable	16,533,011	18,576,272
Accrued loan interest receivable	780,691	788,552
Cash and cash equivalents	128,499	125,563
Investments (at fair value)	1,331,482	1,001,655
Beneficial interest in loan securitizations	137,726	142,391
Restricted cash	754,693	741,981
Restricted cash - due to customers	290,850	326,645
Financial liabilities:
Bonds and notes payable	15,765,820	17,819,902
Accrued interest payable	12,963	4,566
Bank deposits	566,293	342,463
Due to customers	409,476	366,002
Fair value | Level 1
Financial assets:
Loans receivable	0	0
Accrued loan interest receivable	0	0
Cash and cash equivalents	128,499	125,563
Investments (at fair value)	7,398	63,254
Beneficial interest in loan securitizations	0	0
Restricted cash	754,693	741,981
Restricted cash - due to customers	290,850	326,645
Financial liabilities:
Bonds and notes payable	0	0
Accrued interest payable	0	0
Bank deposits	208,003	184,897
Due to customers	409,476	366,002
Fair value | Level 2
Financial assets:
Loans receivable	0	0
Accrued loan interest receivable	780,691	788,552
Cash and cash equivalents	0	0
Investments (at fair value)	1,294,437	929,569
Beneficial interest in loan securitizations	0	0
Restricted cash	0	0
Restricted cash - due to customers	0	0
Financial liabilities:
Bonds and notes payable	15,765,820	17,819,902
Accrued interest payable	12,963	4,566
Bank deposits	358,290	157,566
Due to customers	0	0
Fair value | Level 3
Financial assets:
Loans receivable	16,533,011	18,576,272
Accrued loan interest receivable	0	0
Cash and cash equivalents	0	0
Investments (at fair value)	0	0
Beneficial interest in loan securitizations	137,726	142,391
Restricted cash	0	0
Restricted cash - due to customers	0	0
Financial liabilities:
Bonds and notes payable	0	0
Accrued interest payable	0	0
Bank deposits	0	0
Due to customers	0	0
Carrying value
Financial assets:
Loans receivable	16,135,653	17,546,645
Accrued loan interest receivable	780,691	788,552
Cash and cash equivalents	128,499	125,563
Investments (at fair value)	1,331,482	1,001,655
Beneficial interest in loan securitizations	127,805	120,142
Restricted cash	754,693	741,981
Restricted cash - due to customers	290,850	326,645
Financial liabilities:
Bonds and notes payable	16,115,269	17,631,089
Accrued interest payable	12,963	4,566
Bank deposits	588,474	344,315
Due to customers	$ 409,476	$ 366,002

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event - GRNE-Nelnet, LLC and ENRG-Nelnet, LLC $ in Millions	Jul. 01, 2022 USD ($)
Subsequent Event [Line Items]
Percent ownership acquired	80%
Payments to acquire businesses	$ 29.7