Nelnet (NNI) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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	2024
Document Fiscal Period Focus	Q2
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		25,586,934
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		10,663,088

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Loans and accrued interest receivable	$ 10,939,519	$ 13,108,204
Cash and cash equivalents:
Cash and cash equivalents	145,478	168,112
Investments and notes receivable (including investments at fair value of $948,792 and $988,841, respectively)	1,896,433	1,846,707
Restricted cash	538,446	488,723
Restricted cash - due to customers	259,479	368,656
Restricted investments	50,358	17,969
Accounts receivable (net of allowance for doubtful accounts of $4,272 and $4,304, respectively)	159,836	196,200
Goodwill	158,029	158,029
Intangible assets, net	40,521	44,819
Property and equipment, net	131,666	127,008
Other assets	181,428	187,957
Total assets	14,501,193	16,712,384
Liabilities:
Bonds and notes payable	9,567,708	11,828,393
Accrued interest payable	27,141	35,391
Bank deposits	890,472	743,599
Other liabilities	406,974	479,387
Due to customers	388,876	425,507
Total liabilities	11,281,171	13,512,277
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	657	3,096
Retained earnings	3,295,301	3,270,403
Accumulated other comprehensive loss, net	(2,260)	(20,119)
Total Nelnet, Inc. shareholders' equity	3,294,061	3,253,751
Noncontrolling interests	(74,039)	(53,644)
Total equity	3,220,022	3,200,107
Total liabilities and equity	14,501,193	16,712,384
Nonrelated Party
Cash and cash equivalents:
Cash and cash equivalents	33,000	34,912
Related Party
Cash and cash equivalents:
Cash and cash equivalents	112,478	133,200
Variable Interest Entity, Primary Beneficiary
Assets:
Loans and accrued interest receivable	10,276,743	12,676,932
Cash and cash equivalents:
Restricted cash	515,844	451,932
Liabilities:
Bonds and notes payable	9,822,767	12,006,170
Common stock:
Accrued interest payable and other liabilities	(102,370)	(135,748)
Net assets of consolidated education and other lending variable interest entities	867,450	986,946
Class A
Common stock:
Common stock	256	264
Class B
Common stock:
Common stock	$ 107	$ 107

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Allowance for loan losses	$ 96,764	$ 104,643
Investments at fair value	948,792	988,841
Allowance for doubtful accounts	$ 4,272	$ 4,304
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	50,000,000	50,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common Class A
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	600,000,000	600,000,000
Common stock, issued (in shares)	25,585,840	26,400,630
Common stock, outstanding (in shares)	25,585,840	26,400,630
Common Class B
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	60,000,000	60,000,000
Common stock, issued (in shares)	10,663,088	10,663,088
Common stock, outstanding (in shares)	10,663,088	10,663,088

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest income:
Loan interest	$ 202,129	$ 243,045	$ 418,853	$ 468,288
Investment interest	40,737	40,982	92,814	81,707
Total interest income	242,866	284,027	511,667	549,995
Interest expense on bonds and notes payable and bank deposits	176,459	233,148	371,039	432,597
Net interest income	66,407	50,879	140,628	117,398
Less provision (negative provision) for loan losses	3,611	(11,380)	14,440	791
Net interest income after provision for loan losses	62,796	62,259	126,188	116,607
Other income (expense):
Other, net	28,871	(9,167)	45,734	(24,235)
Loss on sale of loans	(1,438)	(5,461)	(1,579)	(15,753)
Impairment expense and provision for beneficial interests	(7,776)	0	(7,813)	0
Derivative market value adjustments and derivative settlements, net	3,182	2,070	12,903	(12,005)
Total other income (expense), net	258,494	224,055	569,366	466,102
Cost of services:
Cost of services	48,294	49,529	111,132	105,532
Operating expenses:
Salaries and benefits	139,634	144,706	283,509	297,416
Depreciation and amortization	15,142	18,652	31,911	35,279
Other expenses	59,792	45,997	116,637	86,781
Total operating expenses	214,568	209,355	432,057	419,476
Income before income taxes	58,428	27,430	152,365	57,701
Income tax expense	14,753	10,187	37,936	18,273
Net income	43,675	17,243	114,429	39,428
Net loss attributable to noncontrolling interests	1,416	10,183	4,069	13,957
Net income attributable to Nelnet, Inc.	$ 45,091	$ 27,426	$ 118,498	$ 53,385
Earnings per common share:
Net income attributable to Nelnet, Inc. shareholders - basic (in dollars per share)	$ 1.23	$ 0.73	$ 3.22	$ 1.43
Net income attributable to Nelnet, Inc. shareholders - diluted (in dollars per share)	$ 1.23	$ 0.73	$ 3.22	$ 1.43
Weighted-average common shares outstanding - basic (in shares)	36,525,482	37,468,397	36,841,227	37,406,843
Weighted-average common shares outstanding - diluted (in shares)	36,525,482	37,468,397	36,841,227	37,406,843
Loan servicing and systems revenue
Other income (expense):
Revenue	$ 109,052	$ 122,020	$ 236,252	$ 261,247
Education technology services and payments revenue
Other income (expense):
Revenue	116,909	109,858	260,449	243,462
Cost of services:
Cost of services	40,222	40,407	88,832	88,110
Solar construction revenue
Other income (expense):
Revenue	9,694	4,735	23,420	13,386
Cost of services:
Cost of services	$ 8,072	$ 9,122	$ 22,300	$ 17,422

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 43,675	$ 17,243	$ 114,429	$ 39,428
Other comprehensive income:
Net changes related to foreign currency translation adjustments	(21)	0	(16)	(3)
Net changes related to available-for-sale debt securities:
Unrealized holding gains arising during period, net of losses	8,874	8,649	25,635	17,300
Reclassification of (gains) losses recognized in net income, net	(1,053)	(918)	(1,605)	4,064
Amortization of net unrealized loss on securities transferred from available-for-sale to held-to-maturity	51	70	122	70
Income tax effect	(1,890)	(1,872)	(5,797)	(5,144)
Unrealized gains (losses) during period after reclassifications and tax	5,982	5,929	18,355	16,290
Net changes related to equity method investee's other comprehensive income:
Gain (loss) on cash flow hedge	335	(501)	(632)	(499)
Income tax effect	(80)	120	152	120
Net changes related to equity method investee's other comprehensive, after income tax effect	255	(381)	(480)	(379)
Other comprehensive income	6,216	5,548	17,859	15,908
Comprehensive income	49,891	22,791	132,288	55,336
Comprehensive loss attributable to noncontrolling interests	1,416	10,183	4,069	13,957
Comprehensive income attributable to Nelnet, Inc.	$ 51,307	$ 32,974	$ 136,357	$ 69,293

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	Noncontrolling interests
Beginning balance (in shares) at Dec. 31, 2022			26,461,651	10,668,460
Beginning balance at Dec. 31, 2022	$ 3,183,199		$ 265	$ 107	$ 1,109	$ 3,227,680	$ (37,366)	$ (8,596)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	12,904							12,904
Net income (loss)	39,428					53,385		(13,957)
Other comprehensive income	15,908						15,908
Distribution to noncontrolling interests	(12,970)							(12,970)
Cash dividend on Class A and Class B common stock	(19,348)					(19,348)
Issuance of common stock, net of forfeitures (in shares)			226,086
Issuance of common stock, net of forfeitures	5,120		$ 1		5,119
Compensation expense for stock based awards	7,653				7,653
Repurchase of common stock (in shares)			(41,247)
Repurchase of common stock	(3,767)				(3,767)
Ending balance (in shares) at Jun. 30, 2023		0	26,646,490	10,668,460
Ending balance at Jun. 30, 2023	3,228,127	$ 0	$ 266	$ 107	10,114	3,261,717	(21,458)	(22,619)
Beginning balance (in shares) at Mar. 31, 2023			26,623,662	10,668,460
Beginning balance at Mar. 31, 2023	3,205,794		$ 266	$ 107	4,639	3,243,985	(27,006)	(16,197)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	11,703							11,703
Net income (loss)	17,243					27,426		(10,183)
Other comprehensive income	5,548						5,548
Distribution to noncontrolling interests	(7,942)							(7,942)
Cash dividend on Class A and Class B common stock	(9,694)					(9,694)
Issuance of common stock, net of forfeitures (in shares)			27,562
Issuance of common stock, net of forfeitures	2,056				2,056
Compensation expense for stock based awards	3,884				3,884
Repurchase of common stock (in shares)			(4,734)
Repurchase of common stock	(465)				(465)
Ending balance (in shares) at Jun. 30, 2023		0	26,646,490	10,668,460
Ending balance at Jun. 30, 2023	3,228,127	$ 0	$ 266	$ 107	10,114	3,261,717	(21,458)	(22,619)
Beginning balance (in shares) at Dec. 31, 2023			26,400,630	10,663,088
Beginning balance at Dec. 31, 2023	3,200,107		$ 264	$ 107	3,096	3,270,403	(20,119)	(53,644)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	8,151							8,151
Net income (loss)	114,429					118,498		(4,069)
Other comprehensive income	17,859						17,859
Distribution to noncontrolling interests	(26,570)							(26,570)
Cash dividend on Class A and Class B common stock	(20,528)					(20,528)
Issuance of common stock, net of forfeitures (in shares)			69,914
Issuance of common stock, net of forfeitures	3,298		$ 1		3,297
Compensation expense for stock based awards	5,834				5,834
Repurchase of common stock (in shares)			(884,704)
Repurchase of common stock	(82,311)		$ (9)		(11,570)	(70,732)
Acquisition of remaining 20% of GRNE Solar, net of tax	(247)					(2,340)		2,093
Ending balance (in shares) at Jun. 30, 2024		0	25,585,840	10,663,088
Ending balance at Jun. 30, 2024	3,220,022	$ 0	$ 256	$ 107	657	3,295,301	(2,260)	(74,039)
Beginning balance (in shares) at Mar. 31, 2024			26,055,314	10,663,088
Beginning balance at Mar. 31, 2024	3,235,720		$ 261	$ 107	1,101	3,304,197	(8,476)	(61,470)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	6,618							6,618
Net income (loss)	43,675					45,091		(1,416)
Other comprehensive income	6,216						6,216
Distribution to noncontrolling interests	(19,864)							(19,864)
Cash dividend on Class A and Class B common stock	(10,158)					(10,158)
Issuance of common stock, net of forfeitures (in shares)			18,506
Issuance of common stock, net of forfeitures	2,171				2,171
Compensation expense for stock based awards	2,733				2,733
Repurchase of common stock (in shares)			(487,980)
Repurchase of common stock	(46,842)		$ (5)		(5,348)	(41,489)
Acquisition of remaining 20% of GRNE Solar, net of tax	(247)					(2,340)		2,093
Ending balance (in shares) at Jun. 30, 2024		0	25,585,840	10,663,088
Ending balance at Jun. 30, 2024	$ 3,220,022	$ 0	$ 256	$ 107	$ 657	$ 3,295,301	$ (2,260)	$ (74,039)

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
GRNE Solar
Acquisition of remaining 20% of GRNE Solar	20%		20%
Common Class A
Cash dividend on common stock (in dollars per share)	$ 0.28	$ 0.26	$ 0.56	$ 0.52
Common Class B
Cash dividend on common stock (in dollars per share)	$ 0.28	$ 0.26	$ 0.56	$ 0.52

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Net cash provided by operating activities:
Net income attributable to Nelnet, Inc.		$ 118,498	$ 53,385
Net loss attributable to noncontrolling interests		(4,069)	(13,957)
Net income		114,429	39,428
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		69,623	93,573
Loan discount and deferred lender fees accretion		(22,538)	(15,412)
Provision for loan losses		14,440	791
Derivative market value adjustments		(9,497)	35,407
Proceeds from termination of derivative instruments		0	164,079
Proceeds from (payments to) clearinghouse - initial and variation margin, net		5,716	(209,886)
Loss on sale of loans		1,579	15,753
Loss on investments, net		6,985	49,834
Deferred income tax benefit		(4,814)	(16,613)
Non-cash compensation expense		6,004	7,810
Impairment expense and provision for beneficial interests		7,813	0
Decrease (increase) in loan and investment accrued interest receivable		150,907	(4,884)
Decrease in accounts receivable		36,329	59,142
Decrease (increase) in other assets, net		39,667	(11,480)
Decrease in the carrying amount of ROU asset, net		1,911	2,390
Decrease in accrued interest payable		(8,250)	(123)
Decrease in other liabilities		(62,638)	(8,916)
Decrease in the carrying amount of lease liability		(1,982)	(2,568)
Other		(365)	75
Net cash provided by operating activities		345,319	198,400
Cash flows from investing activities:
Purchases and originations of loans		(430,575)	(411,868)
Purchases of loans from a related party		0	(467,519)
Net proceeds from loan repayments, claims, and capitalized interest		2,125,052	1,348,827
Proceeds from sale of loans		311,010	290,957
Purchases of available-for-sale securities		(272,031)	(296,468)
Purchases of restricted available-for-sale securities		(23,288)	0
Proceeds from sales of available-for-sale securities		265,887	577,548
Proceeds from sales of restricted available-for-sale securities		660	0
Proceeds from beneficial interest in loan securitizations		19,513	13,237
Purchases of other investments and issuance of notes receivable		(197,440)	(140,129)
Proceeds from other investments and repayments of notes receivable		53,635	14,982
Purchases of held-to-maturity debt securities		0	(2,889)
Redemption of held-to-maturity debt securities		5,041	1,487
Purchases of property and equipment		(33,842)	(37,253)
Net cash provided by investing activities		1,823,622	890,912
Cash flows from financing activities:
Payments on bonds and notes payable		(2,283,381)	(2,417,622)
Proceeds from issuance of bonds and notes payable		37	806,148
Payments of debt issuance costs		(693)	(2,214)
Increase in bank deposits, net		146,873	39,724
Decrease in due to customers		(36,642)	(48,728)
Dividends paid		(20,528)	(19,348)
Repurchases of common stock		(82,311)	(3,767)
Proceeds from issuance of common stock		967	890
Acquisition of noncontrolling interest		(325)	0
Issuance of noncontrolling interests		27,396	14,018
Distribution to noncontrolling interests		(2,335)	(1,920)
Net cash used in financing activities		(2,250,942)	(1,632,819)
Effect of exchange rate changes on cash and restricted cash		(87)	(84)
Net decrease in cash, cash equivalents, and restricted cash		(82,088)	(543,591)
Cash, cash equivalents, and restricted cash, beginning of period		1,025,491	1,357,616
Cash, cash equivalents, and restricted cash, end of period		943,403	814,025
Supplemental disclosures of cash flow information:
Cash disbursements made for interest		355,943	386,686
Cash disbursements made for income taxes, net of refunds and credits received	[1]	11,932	43,510
Cash disbursements made for operating leases		2,451	3,476
Non-cash operating, investing, and financing activity:
ROU assets obtained in exchange for lease obligations		49	18,485
Receipt of beneficial interest in consumer loan securitizations as consideration from sale of loans		13,693	53,896
Receipt of asset-backed investment securities as consideration from sale of loans		0	58,182
Transfer of available-for-sale securities to restricted		8,262	0
Distribution to noncontrolling interests		24,235	11,050
Issuance of noncontrolling interests		$ 19,245	$ 1,114
[1]The Company utilized $20.3 million and $13.9 million of federal and state tax credits related primarily to renewable energy during the six months ended June 30, 2024 and 2023, respectively.

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Statement of Cash Flows [Abstract]
Federal and state tax credit utilized	$ 20,300	$ 13,900
Cash and cash equivalents:
Total cash and cash equivalents	145,478	121,769
Restricted cash	538,446	484,223
Restricted cash - due to customers	259,479	208,033
Cash, cash equivalents, and restricted cash	$ 943,403	$ 814,025

Basis of Financial Reporting

Basis of Financial Reporting	6 Months Ended
	Jun. 30, 2024
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, 2024 and for the three and six months ended June 30, 2024 and 2023 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2023 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, 2024 are not necessarily indicative of the results for the year ending December 31, 2024. 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, 2023 (the "2023 Annual Report").

Reclassifications and Immateria

Reclassifications and Immaterial Error Corrections	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Reclassifications and Immaterial Error Corrections	Reclassifications and Immaterial Error Corrections During the second quarter of 2024, the Company identified certain immaterial errors in the previously issued consolidated financial statements that have been corrected to conform to the June 30, 2024 presentation. Loan Sales The Company determined the reversal of provision for loan losses resulting from the sale of loans should be presented as a reduction to the provision for loan losses rather than the historical presentation as a gain/(loss) on sale of loans included in "other income (expense)" on the consolidated statements of income. Prior period amounts have been corrected to conform to the current period presentation resulting in a reclassification of $21.0 million and $43.1 million for the three and six months ended June 30, 2023, respectively. This correction had no impact on previously reported consolidated assets, liabilities, total equity, net income, and cash flows from operating activities. Solar Tax Equity Investments The Company relies on audited financial statements provided by third parties to record its share of earnings or losses on its solar tax equity investments. The Company determined that the Hypothetical Liquidation at Book Value (HLBV) method of accounting was not consistently adopted by all third parties in such audited financial statements for those solar tax equity investments made under a lease pass-through structure. The adoption of the HLBV method of accounting accelerates accounting losses in the initial years of the investment but has no impact on the overall economics of the transaction. During the second quarter of 2024, the Company fully adopted HLBV accounting for these investments and prior period amounts have been corrected, resulting in an increase in solar investment losses included in "other, net" in "other income (expense)" on the consolidated statements of income of $2.2 million and $3.2 million for the three and six months ended June 30, 2023, respectively, partially offset by an increase in "net loss attributed to noncontrolling interests" of $1.0 million and $1.3 million for the three and six months ended June 30, 2023, respectively. The after-tax net income impact to Nelnet, Inc. was a reduction of $0.8 million and $1.4 million for the three and six months ended June 30, 2023, respectively. Consolidated "total equity" on the consolidated balance sheet was reduced $21.8 million as of December 31, 2023 and $16.7 million as of December 31, 2022, with the 2022 impact reflecting the cumulative impact of this correction through such date.

Loans and Accrued Interest Rece

Loans and Accrued Interest Receivable and Allowance for Loan Losses	6 Months Ended
	Jun. 30, 2024
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, 2024 December 31, 2023 Non-Nelnet Bank: Federally insured loans: Stafford and other $ 2,308,561 2,936,174 Consolidation 7,175,172 8,750,033 Total 9,483,733 11,686,207 Private education loans 247,437 277,320 Consumer and other loans 179,447 85,935 Non-Nelnet Bank loans 9,910,617 12,049,462 Nelnet Bank: Private education loans 354,412 360,520 Consumer and other loans 187,939 72,352 Nelnet Bank loans 542,351 432,872 Accrued interest receivable 619,472 764,385 Loan discount and deferred lender fees, net of unamortized loan premiums and deferred origination costs (36,157) (33,872) Allowance for loan losses: Non-Nelnet Bank: Federally insured loans (54,180) (68,453) Private education loans (13,065) (15,750) Consumer and other loans (14,135) (11,742) Non-Nelnet Bank allowance for loan losses (81,380) (95,945) Nelnet Bank: Private education loans (3,559) (3,347) Consumer and other loans (11,825) (5,351) Nelnet Bank allowance for loan losses (15,384) (8,698) $ 10,939,519 13,108,204 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, 2024 December 31, 2023 Non-Nelnet Bank: Federally insured loans (a) 0.57 % 0.59 % Private education loans 5.28 % 5.68 % Consumer and other loans (b) 7.88 % 13.66 % Nelnet Bank: Private education loans 1.00 % 0.93 % Consumer and other loans 6.29 % 7.40 % (a) As of June 30, 2024 and December 31, 2023, the allowance for loan losses as a percent of the risk sharing component of federally insured student loans not covered by the federal guaranty was 20.9% and 21.8%, respectively. (b) Decrease as of June 30, 2024 compared with December 31, 2023 is due to the change in the mix of loans outstanding at the end of each period reported. Loan Sales During the three months ended June 30, 2024 and 2023, the Company sold $133.8 million and $158.3 million, respectively, of consumer loans, and recognized losses from such sales of $1.4 million and $5.5 million, respectively. During the six months ended June 30, 2024 and 2023, the Company sold $333.9 million and $420.2 million, respectively, of FFELP and consumer loans, and recognized losses from such sales of $1.6 million and $15.8 million, respectively. For certain of these loan sales, the Company has sold portfolios of loans to unrelated third parties who securitized such loans. As partial consideration received for the loans sold, the Company received residual interest in the loan securitizations and asset-backed investment securities that are included in "investments and notes receivable" on the Company's consolidated balance sheets. 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 (a) Charge-offs Recoveries Balance at end of period Three months ended June 30, 2024 Non-Nelnet Bank: Federally insured loans $ 61,723 (1,970) (5,573) — 54,180 Private education loans 14,736 — (1,827) 156 13,065 Consumer and other loans 18,761 (2,255) (2,634) 263 14,135 Nelnet Bank: Private education loans 3,660 255 (460) 104 3,559 Consumer and other loans 7,128 7,519 (2,837) 15 11,825 $ 106,008 3,549 (13,331) 538 96,764 Three months ended June 30, 2023 Non-Nelnet Bank: Federally insured loans $ 79,331 — (5,270) — 74,061 Private education loans 15,175 — (1,069) 216 14,322 Consumer and other loans 35,317 (12,873) (2,880) 441 20,005 Nelnet Bank: Federally insured loans 160 (4) (2) — 154 Private education loans 2,894 517 (506) — 2,905 Consumer and other loans 1,827 989 — — 2,816 $ 134,704 (11,371) (9,727) 657 114,263 Six months ended June 30, 2024 Non-Nelnet Bank: Federally insured loans $ 68,453 (3,840) (10,433) — 54,180 Private education loans 15,750 (265) (2,840) 420 13,065 Consumer and other loans 11,742 6,335 (4,586) 644 14,135 Nelnet Bank: Private education loans 3,347 1,012 (906) 106 3,559 Consumer and other loans 5,351 11,236 (4,804) 42 11,825 $ 104,643 14,478 (23,569) 1,212 96,764 Six months ended June 30, 2023 Non-Nelnet Bank: Federally insured loans $ 83,593 2,411 (11,943) — 74,061 Private education loans 15,411 240 (1,709) 380 14,322 Consumer and other loans 30,263 (5,770) (5,149) 661 20,005 Nelnet Bank: Federally insured loans 170 (12) (4) — 154 Private education loans 2,390 1,129 (614) — 2,905 Consumer and other loans — 2,816 — — 2,816 $ 131,827 814 (19,419) 1,041 114,263 (a) The following table presents the reduction to provision for loan losses as a result of the loan sales described under "Loan Sales" above. Provision for current period Loan sale reduction to provision Provision Three months ended June 30, 2024 Non-Nelnet Bank Consumer and other loans $ 10,340 (12,595) (2,255) Three months ended June 30, 2023 Non-Nelnet Bank Consumer and other loans $ 8,098 (20,971) (12,873) Six months ended June 30, 2024 Non-Nelnet Bank Consumer and other loans $ 19,030 (12,695) 6,335 Six months ended June 30, 2023 Non-Nelnet Bank Consumer and other loans $ 37,307 (43,077) (5,770) The following table summarizes annualized net charge-offs as a percentage of average loans for each of the Company's loan portfolios. Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Non-Nelnet Bank: Federally insured loans 0.22 % 0.16 % 0.19 % 0.18 % Private education loans 2.64 % 1.45 % 1.85 % 1.11 % Consumer and other loans 4.62 % 4.07 % 4.98 % 3.22 % Nelnet Bank: Federally insured loans — 0.01 % — 0.01 % Private education loans 0.40 % 0.57 % 0.44 % 0.35 % Consumer and other loans 7.44 % — 7.66 % — The primary items impacting provision for loan losses during the periods presented above were the establishment of an initial allowance for consumer and other loans originated and acquired and the reversal of provision for consumer and other loans sold. The Company recorded a negative provision for loan losses for its federally insured loan portfolio in 2024 due to the amortization of this portfolio and an increase in prepayment assumptions. Unfunded Loan Commitments As of June 30, 2024 and December 31, 2023, Nelnet Bank had a liability of approximately $119,000 and $158,000, respectively, related to $11.5 million and $12.3 million, respectively, of unfunded private education, consumer, and other loan commitments. When a new loan commitment is made, the Company records an allowance that is included in "other liabilities" on the consolidated balance sheet by recording a provision for loan losses. When the loan is funded, the Company transfers the liability to the allowance for loan losses. Below is a reconciliation of the provision for loan losses reported in the consolidated statements of income. Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 Provision for loan losses from allowance activity table above $ 3,549 (11,371) 14,478 814 Provision (negative provision) for unfunded loan commitments 62 (9) (38) (23) Provision (negative provision) for loan losses reported in consolidated statements of income $ 3,611 (11,380) 14,440 791 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 following table presents the Company’s loan status and delinquency amounts. As of June 30, 2024 As of December 31, 2023 As of June 30, 2023 Federally insured loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 440,891 4.6 % $ 522,304 4.5 % $ 612,357 4.8 % Loans in forbearance 702,539 7.4 979,588 8.4 930,629 7.3 Loans in repayment status: Loans current 7,012,655 84.1 % 8,416,624 82.6 % 9,609,634 85.2 % Loans delinquent 31-60 days 339,262 4.1 377,108 3.7 496,953 4.4 Loans delinquent 61-90 days 234,746 2.8 254,553 2.5 360,728 3.2 Loans delinquent 91-120 days 151,447 1.8 187,145 1.9 157,685 1.4 Loans delinquent 121-270 days 377,660 4.5 685,829 6.7 457,100 4.1 Loans delinquent 271 days or greater 224,533 2.7 263,056 2.6 194,656 1.7 Total loans in repayment 8,340,303 88.0 100.0 % 10,184,315 87.1 100.0 % 11,276,756 87.9 100.0 % Total federally insured loans 9,483,733 100.0 % 11,686,207 100.0 % 12,819,742 100.0 % Accrued interest receivable 612,374 757,713 810,489 Loan discount, net of unamortized premiums and deferred origination costs (24,222) (28,963) (33,764) Allowance for loan losses (54,180) (68,453) (74,061) Total federally insured loans and accrued interest receivable, net of allowance for loan losses $ 10,017,705 $ 12,346,504 $ 13,522,406 Private education loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 7,906 3.2 % $ 9,475 3.4 % $ 10,440 4.6 % Loans in forbearance 2,248 0.9 2,529 0.9 1,874 0.8 Loans in repayment status: Loans current 230,512 97.1 % 257,639 97.1 % 212,522 97.6 % Loans delinquent 31-60 days 2,814 1.2 3,395 1.3 1,643 0.7 Loans delinquent 61-90 days 1,395 0.6 1,855 0.7 1,253 0.6 Loans delinquent 91 days or greater 2,562 1.1 2,427 0.9 2,324 1.1 Total loans in repayment 237,283 95.9 100.0 % 265,316 95.7 100.0 % 217,742 94.6 100.0 % Total private education loans 247,437 100.0 % 277,320 100.0 % 230,056 100.0 % Accrued interest receivable 2,407 2,653 2,196 Loan discount, net of unamortized premiums (7,194) (8,037) 183 Allowance for loan losses (13,065) (15,750) (14,322) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 229,585 $ 256,186 $ 218,113 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ 122 0.1 % $ 146 0.2 % $ 102 0.1 % Loans in repayment status: Loans current 174,295 97.2 % 81,195 94.6 % 181,864 96.1 % Loans delinquent 31-60 days 2,100 1.2 2,035 2.4 2,794 1.5 Loans delinquent 61-90 days 1,857 1.0 1,189 1.4 2,533 1.3 Loans delinquent 91 days or greater 1,073 0.6 1,370 1.6 2,034 1.1 Total loans in repayment 179,325 99.9 100.0 % 85,789 99.8 100.0 % 189,225 99.9 100.0 % Total consumer and other loans 179,447 100.0 % 85,935 100.0 % 189,327 100.0 % Accrued interest receivable 763 861 2,246 Loan discount and deferred lender fees, net of unamortized premiums (9,205) (2,474) 750 Allowance for loan losses (14,135) (11,742) (20,005) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 156,870 $ 72,580 $ 172,318 As of June 30, 2024 As of December 31, 2023 As of June 30, 2023 Private education loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 41,394 11.7 % $ 25,957 7.2 % $ 16,996 4.8 % Loans in forbearance 1,985 0.6 1,285 0.4 1,797 0.5 Loans in repayment status: Loans current 308,591 99.2 % 331,580 99.4 % 332,205 99.6 % Loans delinquent 30-59 days 934 0.3 839 0.3 691 0.2 Loans delinquent 60-89 days 444 0.2 253 0.1 241 0.1 Loans delinquent 90 days or greater 1,064 0.3 606 0.2 389 0.1 Total loans in repayment 311,033 87.7 100.0 % 333,278 92.4 100.0 % 333,526 94.7 100.0 % Total private education loans 354,412 100.0 % 360,520 100.0 % 352,319 100.0 % Accrued interest receivable 2,709 2,023 1,591 Deferred origination costs, net of unaccreted discount 5,501 5,608 5,366 Allowance for loan losses (3,559) (3,347) (2,905) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 359,063 $ 364,804 $ 356,371 Consumer and other loans - Nelnet Bank (a): Loans in deferment $ 1,414 0.8 % $ 103 0.1 % $ 6 0.0 % Loans in repayment status: Loans current 181,558 97.3 % 69,584 96.3 % 30,120 98.2 % Loans delinquent 30-59 days 1,516 0.8 1,075 1.5 277 0.9 Loans delinquent 60-89 days 1,814 1.0 941 1.3 205 0.7 Loans delinquent 90 days or greater 1,637 0.9 649 0.9 60 0.2 Total loans in repayment 186,525 99.2 100.0 % 72,249 99.9 100.0 % 30,662 100.0 100.0 % Total consumer and other loans 187,939 100.0 % 72,352 100.0 % 30,668 100.0 % Accrued interest receivable 1,219 575 214 Loan discount, net of unamortized premiums (1,037) (6) — Allowance for loan losses (11,825) (5,351) (2,816) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 176,296 $ 67,570 $ 28,066 (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 An additional key credit quality indicator for Nelnet Bank private education and consumer loans is FICO scores at the time of origination. The following tables highlight the gross principal balance of Nelnet Bank's portfolios, by year of origination, stratified by FICO score at the time of origination. Nelnet Bank Private Education Loans Loan balance as of June 30, 2024 Six months ended June 30, 2024 2023 2022 2021 2020 Total FICO at origination: Less than 705 $ 451 3,957 5,200 4,413 374 14,395 705 - 734 950 9,658 20,984 8,167 513 40,272 735 - 764 1,149 9,307 31,511 13,673 1,318 56,958 765 - 794 860 6,543 49,268 25,720 1,286 83,677 Greater than 794 1,760 17,464 72,638 53,755 4,801 150,418 No FICO score available or required (a) 2,610 6,082 — — — 8,692 $ 7,780 53,011 179,601 105,728 8,292 354,412 Loan balance as of December 31, 2023 2023 2022 2021 2020 Total FICO at origination: Less than 705 $ 3,840 5,495 4,647 386 14,368 705 - 734 9,534 21,961 8,805 525 40,825 735 - 764 8,648 32,969 14,910 1,358 57,885 765 - 794 5,776 52,045 27,221 1,374 86,416 Greater than 794 15,057 77,996 58,695 5,226 156,974 No FICO score available or required (a) 4,052 — — — 4,052 $ 46,907 190,466 114,278 8,869 360,520 Nelnet Bank Consumer and Other Loans Loan balance as of June 30, 2024 Six months ended June 30, 2024 2023 2022 2021 2020 Prior years Total FICO at origination: Less than 720 $ 13,041 17,016 — 1,360 1,625 1,800 34,842 720 - 769 41,116 30,354 25 6,888 5,793 3,464 87,640 Greater than 769 35,957 19,243 106 4,899 2,262 1,062 63,529 No FICO score available or required (a) 1,153 440 281 54 — — 1,928 $ 91,267 67,053 412 13,201 9,680 6,326 187,939 Loan balance as of December 31, 2023 2023 2022 2021 2020 Prior years Total FICO at origination: Less than 720 $ 21,412 — — — — 21,412 720 - 769 33,571 51 — — — 33,622 Greater than 769 16,484 109 — — — 16,593 No FICO score available or required (a) 386 284 55 — — 725 $ 71,853 444 55 — — 72,352 (a) Loans with no FICO score available or required refers to loans issued to borrowers for which the Company cannot obtain a FICO score or are not required to under a special purpose credit program. Management proactively assesses the risk and size of this loan category and, when necessary, takes actions to mitigate the credit risk. 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 June 30, 2024 and December 31, 2023, 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, 2024 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, 2024 2023 2022 2021 2020 Prior years Total Private education loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ — — 657 3,325 713 3,211 7,906 Loans in forbearance — — 356 140 429 1,323 2,248 Loans in repayment status: Loans current — 207 4,053 5,141 42,508 178,603 230,512 Loans delinquent 31-60 days — — 13 45 380 2,376 2,814 Loans delinquent 61-90 days — — 7 8 167 1,213 1,395 Loans delinquent 91 days or greater — — — 7 115 2,440 2,562 Total loans in repayment — 207 4,073 5,201 43,170 184,632 237,283 Total private education loans $ — 207 5,086 8,666 44,312 189,166 247,437 Accrued interest receivable 2,407 Loan discount, net of unamortized premiums (7,194) Allowance for loan losses (13,065) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 229,585 Gross charge-offs - six months ended June 30, 2024 $ — — — 76 36 2,728 2,840 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ — 122 — — — — 122 Loans in repayment status: Loans current 131,766 37,985 3,624 526 283 111 174,295 Loans delinquent 31-60 days 160 1,394 433 103 7 3 2,100 Loans delinquent 61-90 days 42 1,158 649 8 — — 1,857 Loans delinquent 91 days or greater 14 852 176 14 17 — 1,073 Total loans in repayment 131,982 41,389 4,882 651 307 114 179,325 Total consumer and other loans $ 131,982 41,511 4,882 651 307 114 179,447 Accrued interest receivable 763 Loan discount and deferred lender fees, net of unamortized premiums (9,205) Allowance for loan losses (14,135) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 156,870 Gross charge-offs - six months ended June 30, 2024 $ — 2,611 1,678 213 23 61 4,586 Private education loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 5,107 25,688 8,993 674 932 — 41,394 Loans in forbearance 24 149 1,274 430 108 — 1,985 Loans in repayment status: Loans current 2,629 26,518 168,736 103,612 7,096 — 308,591 Loans delinquent 30-59 days 17 292 96 420 109 — 934 Loans delinquent 60-89 days 3 159 217 65 — — 444 Loans delinquent 90 days or greater — 205 285 527 47 — 1,064 Total loans in repayment 2,649 27,174 169,334 104,624 7,252 — 311,033 Total private education loans $ 7,780 53,011 179,601 105,728 8,292 — 354,412 Accrued interest receivable 2,709 Deferred origination costs, net of unaccreted discount 5,501 Allowance for loan losses (3,559) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 359,063 Gross charge-offs - six months ended June 30, 2024 $ — 324 348 234 — — 906 Six months ended June 30, 2024 2023 2022 2021 2020 Prior years Total Consumer and other loans - Nelnet Bank (a): Loans in deferment $ 1,308 106 — — — — 1,414 Loans in repayment status: Loans current 89,467 62,838 412 12,980 9,656 6,205 181,558 Loans delinquent 30-59 days 146 1,247 — 57 6 60 1,516 Loans delinquent 60-89 days 223 1,459 — 92 — 40 1,814 Loans delinquent 90 days or greater 123 1,403 — 72 18 21 1,637 Total loans in repayment 89,959 66,947 412 13,201 9,680 6,326 186,525 Total consumer and other loans $ 91,267 67,053 412 13,201 9,680 6,326 187,939 Accrued interest receivable 1,219 Loan discount, net of unamortized premiums (1,037) Allowance for loan losses (11,825) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 176,296 Gross charge-offs - six months ended June 30, 2024 $ 73 4,724 — — — 7 4,804 (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, 2024
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, 2024 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 $ 7,945,989 5.46% - 7.46% 8/26/30 - 9/25/69 Bonds and notes based on auction 75,735 0.00% - 6.45% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 8,021,724 Fixed-rate bonds and notes issued in FFELP loan asset-backed 389,462 1.42% - 3.45% 10/25/67 - 8/27/68 FFELP loan warehouse facilities 964,196 5.41% - 5.53% 7/15/25 / 4/1/26 Consumer loan warehouse facility 6,760 5.54% 11/14/25 Variable-rate bonds and notes issued in private education loan asset-backed securitizations 65,683 6.90% / 7.59% 6/25/49 / 11/25/53 Fixed-rate bonds and notes issued in private education loan asset-backed securitizations 63,203 5.35% / 7.15% 12/28/43 / 11/25/53 Unsecured line of credit — — 9/22/26 Participation agreements 7,728 5.58% - 6.08% 5/4/25 / 1/30/33 Repurchase agreement 111,189 6.44% - 6.75% 11/27/24 / 12/20/24 Other - due to related party 4,856 5.00% 11/15/28 - 11/15/30 9,634,801 Discount on bonds and notes payable and debt issuance costs (67,093) Total $ 9,567,708 As of December 31, 2023 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 $ 9,552,667 5.45% - 7.47% 8/26/30 - 9/25/69 Bonds and notes based on auction 87,360 0.00% - 6.45% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 9,640,027 Fixed-rate bonds and notes issued in FFELP loan asset-backed securitizations 471,427 1.42% - 3.45% 10/25/67 - 8/27/68 FFELP loan warehouse facilities 1,398,485 5.41% - 5.70% 4/2/25 / 5/22/25 Consumer loan warehouse facility 23,691 5.70% 11/14/25 Variable-rate bonds and notes issued in private education loan asset-backed securitizations 80,393 6.90% / 7.57% 6/25/49 / 11/25/53 Fixed-rate bonds and notes issued in private education loan asset-backed securitizations 80,130 5.35% / 7.15% 12/28/43 / 11/25/53 Unsecured line of credit — — 9/22/26 Participation agreements 10,063 5.58% - 6.08% 3/12/24 / 5/4/24 Repurchase agreement 208,164 6.35% - 6.81% 1/22/24 - 12/20/24 Other - due to related party 5,778 5.00% - 6.05% 3/1/24 - 11/15/30 11,918,158 Discount on bonds and notes payable and debt issuance costs (89,765) Total $ 11,828,393 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. The following table summarizes the Company's warehouse facilities as of June 30, 2024. Type of loans Maximum financing amount Amount outstanding Amount available Expiration of liquidity provisions Final maturity date Advance rate Advanced as equity support FFELP (a) $ 875,000 643,034 231,966 7/15/2024 7/15/2025 note (b) $ 45,502 FFELP (c) 375,000 321,162 53,838 4/1/2025 4/1/2026 92 % 26,539 $ 1,250,000 964,196 285,804 $ 72,041 Consumer (d) $ 150,000 6,760 143,240 11/14/2024 11/14/2025 70 % $ 1,781 (a) Effective March 6, 2024, the maximum financing amount on this facility was reduced from $1.25 billion to $950 million. On May 17, 2024, this facility was amended to reduce the maximum financing amount from $950 million to $875 million, and to extend the expiration of liquidity provisions and final maturity date to July 15, 2024 and July 15, 2025, respectively. On July 15, 2024, this facility was amended to reduce the maximum financing amount from $875 million to $800 million, and to extend the expiration of liquidity provisions and final maturity date to January 31, 2025 and January 31, 2026, respectively. (b) This facility has a static advance rate until the expiration date of the liquidity provisions. The maximum advance rates for this facility are 90% to 96%, and the minimum advance rates are 84% to 90%. In the event the liquidity provisions are not extended, the valuation agent has the right to perform a one-time mark to market on the underlying loans funded in this facility, subject to a floor. The loans would then be funded at this new advance rate until the final maturity date of the facility. (c) On April 2, 2024, this facility was amended to reduce the maximum financing amount from $432 million to $375 million, and to extend the expiration of liquidity provisions and final maturity date to April 1, 2025 and April 1, 2026, respectively. (d) On March 11, 2024, this facility was amended to reduce the maximum financing amount from $200 million to $150 million. 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, 2024, no amount was outstanding on the line of credit and $495.0 million was available for future use. Repurchase Agreement The Company has a repurchase agreement with a non-affiliated third party, the proceeds of which are collateralized by certain private education loan asset-backed securities (bond investments). The outstanding balance under this agreement as of June 30, 2024 was $111.2 million. The agreement has various maturity dates through December 20, 2024 or earlier if either party provides 180 days’ prior written notice, and the Company is subject to margin deficit payment requirements if the fair value of the securities subject to the agreement is less than the original purchase price of such securities on any scheduled reset date. See note 6 for additional information about the private education loan asset-backed securities investments serving as collateral for this repurchase agreement. Debt Repurchases 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, 2024, the Company holds $311.7 million (par value) of its own FFELP asset-backed securities. In April 2023, the Company redeemed $188.6 million of FFELP loan asset-backed debt securities (bonds and notes payable) prior to their maturity. The remaining unamortized debt discount associated with these bonds at the time of redemption was written-off, resulting in a $25.9 million non-cash expense recognized in April 2023. This expense is included in "interest expense on bonds and notes payable and bank deposits" on the consolidated statements of income.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Non-Nelnet Bank Derivatives The Company uses settled-to-market 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 5 of the notes to consolidated financial statements included in the 2023 Annual Report. A tabular presentation of such derivatives outstanding as of June 30, 2024 and December 31, 2023 is presented below. Basis Swaps The following table summarizes the Company’s outstanding basis swaps, in which the Company receives and pays the term adjusted Secured Overnight Financing Rate (SOFR) plus the tenor spread adjustment to LIBOR. Prior to the discontinuation of LIBOR on June 30, 2023, the Company received three-month LIBOR set discretely in advance and paid 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, 2024 December 31, 2023 2024 $ — 1,750,000 2026 1,150,000 1,150,000 2027 250,000 250,000 $ 1,400,000 3,150,000 The weighted average rate paid by the Company on the 1:3 Basis Swaps as of June 30, 2024 and December 31, 2023 was the term adjusted SOFR (plus the tenor spread adjustment relating to LIBOR) plus 10.4 basis points and 10.1 basis points, respectively. Interest Rate Swaps – Floor Income Hedges The following table summarizes the outstanding derivative instruments used by the Company as of June 30, 2024 and December 31, 2023 to economically hedge loans earning fixed rate floor income. Maturity Notional amount Weighted average fixed rate paid by the Company (a) 2026 $ 200,000 3.92 % 2028 50,000 3.56 2029 (b) 50,000 3.17 2030 (c) 100,000 3.63 $ 400,000 3.71 % (a) For all interest rate derivatives, the Company receives payments based on SOFR, the majority of which reset quarterly. (b) This $50 million notional amount derivative has a forward effective start date in January 2026. (c) A $50 million notional amount derivative maturing in 2030 has a forward effective start date in November 2025. During the first quarter of 2023, the Company received $183.2 million, which included $19.1 million related to 2023 settlements, to terminate $2.8 billion in notional amount of floor income interest rate swaps prior to their final maturity. Nelnet Bank Derivatives Interest Rate Swaps The following table summarizes the outstanding non-centrally cleared derivative instruments used by Nelnet Bank as of June 30, 2024 and December 31, 2023 to hedge exposure to variability in cash flows related to variable rate intercompany deposits. Maturity Notional amount Weighted average fixed rate paid by the Company (a) 2028 $ 40,000 3.33 % 2030 (b) 50,000 3.06 2032 (c) 25,000 4.03 2033 (d) 25,000 3.90 $ 140,000 3.46 % (a) For all interest rate derivatives, the Company receives payments based on SOFR that reset monthly or quarterly. (b) These $25 million notional amount derivatives have forward effective start dates in April 2026 and May 2026, respectively. (c) This $25 million notional amount derivative has a forward effective start date in February 2027. (d) This $25 million notional amount derivative has a forward effective start date in November 2025. Consolidated Financial Statement Impact Related to Derivatives Balance Sheets Unlike the Company's Non-Nelnet Bank derivatives, Nelnet Bank's derivatives are not cleared post-execution at a regulated clearinghouse. As such, the Company records these derivative instruments in the consolidated balance sheets on a gross basis as either an asset (included in "other assets") or liability (included in "other liabilities") measured at fair value. The following table summarizes the fair value of the Company's Nelnet Bank derivatives as reflected in the consolidated balance sheets. Fair value of asset derivatives Fair value of liability derivatives As of June 30, 2024 As of December 31, 2023 As of June 30, 2024 As of December 31, 2023 Interest rate swaps - Nelnet Bank $ 2,112 452 780 1,976 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, 2024 2023 2024 2023 Settlements: 1:3 basis swaps $ 249 (65) 614 794 Interest rate swaps - floor income hedges 1,193 47 2,383 22,525 Interest rate swaps - Nelnet Bank 207 83 409 83 Total settlements - income 1,649 65 3,406 23,402 Change in fair value: 1:3 basis swaps (232) 235 (586) 211 Interest rate swaps - floor income hedges 1,168 662 7,228 (36,726) Interest rate swaps - Nelnet Bank 597 1,108 2,855 1,108 Total change in fair value - income (expense) 1,533 2,005 9,497 (35,407) Derivative market value adjustments and derivative settlements, net - income (expense) $ 3,182 2,070 12,903 (12,005)

Investments and Notes Receivabl

Investments and Notes Receivable	6 Months Ended
	Jun. 30, 2024
Investments [Abstract]
Investments and Notes Receivable	Investments and Notes Receivable "Restricted investments" and “investments and notes receivable” consisted of the following: As of June 30, 2024 As of December 31, 2023 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Amortized cost Gross unrealized gains Gross unrealized losses Fair value Restricted available-for-sale investments (at fair value): FFELP loan and other debt securities $ 47,968 2,473 (83) 50,358 16,993 1,069 (93) 17,969 Non-restricted available-for-sale investments (at fair value): Non-Nelnet Bank: FFELP loan $ 220,076 6,910 (1,450) 225,536 271,479 4,883 (5,393) 270,969 Private education loan (a) 258,390 — (22,442) 235,948 281,791 — (28,874) 252,917 Other debt securities 33,673 2,042 — 35,715 41,693 2,020 (1,275) 42,438 Total Non-Nelnet Bank 512,139 8,952 (23,892) 497,199 594,963 6,903 (35,542) 566,324 Nelnet Bank: FFELP loan (b) 227,124 8,090 (1,350) 233,864 304,555 4,488 (2,286) 306,757 Private education loan — — — — 17,083 20 (10) 17,093 Other debt securities 158,609 917 (1,418) 158,108 49,284 117 (1,641) 47,760 Total Nelnet Bank 385,733 9,007 (2,768) 391,972 370,922 4,625 (3,937) 371,610 Total available-for-sale asset-backed securities $ 897,872 17,959 (26,660) 889,171 965,885 11,528 (39,479) 937,934 Equity securities 59,621 50,907 Total investments at fair value 948,792 988,841 Other Investments and Notes Receivable (not measured at fair value): Held-to-maturity investments Non-Nelnet Bank: Debt securities 3,500 4,700 Nelnet Bank: FFELP loan asset-backed securities (b) 217,283 149,938 Private education loan asset-backed securities 8,100 8,100 Total Nelnet Bank 225,383 158,038 Total held-to-maturity investments 228,883 162,738 Venture capital and funds: Measurement alternative 196,803 194,084 Equity method 114,800 91,464 Total venture capital and funds 311,603 285,548 Real estate: Equity method 125,989 103,811 Investment in ALLO: Voting interest/equity method (c) — 10,693 Preferred membership interest and accrued and unpaid preferred return (d) 176,092 155,047 Total investment in ALLO 176,092 165,740 Beneficial interest in loan securitizations (e): Consumer loans, net of allowance for credit losses of $5,911 as of June 30, 2024 163,853 134,113 Private education loans 59,326 68,372 Federally insured student loans 20,790 22,594 Total beneficial interest in loan securitizations 243,969 225,079 Solar (f) (176,105) (146,040) Notes receivable 28,565 53,747 Tax liens, affordable housing, and other 8,645 7,243 Total investments (not measured at fair value) 947,641 857,866 Total investments and notes receivable $ 1,896,433 $ 1,846,707 (a) A portion of the private education loan asset-backed securities were subject to a repurchase agreement with a third party, as discussed in note 4 under "Repurchase Agreement." As of June 30, 2024, the par value and fair value of these securities was $148.1 million and $130.7 million, respectively. (b) On May 22, 2024, securities at Nelnet Bank with a fair value of $70.6 million were transferred from available-for-sale to held-to-maturity. The securities were reclassified at fair value at the time of the transfer, and such transfer represented a non-cash transaction. Accumulated other comprehensive income as of May 22, 2024 included pre-tax unrealized gains of $3.4 million related to the transfer. These unrealized gains will be amortized, consistent with the amortization of any premiums on such securities, over the remaining lives of the respective securities as an adjustment of yield. (c) The Company accounts for its voting membership interests in ALLO under the Hypothetical Liquidation at Book Value (HLBV) method of accounting. Under the HLBV method of accounting on its ALLO voting membership interests investment, the Company recognized no losses and $12.2 million of losses during the three months ended June 30, 2024 and 2023, respectively, and losses of $10.7 million and $32.4 million during the six months ended June 30, 2024 and 2023, respectively. Losses from the Company's investment in ALLO are included in "other, net" in "other income (expense)" on the consolidated statements of income. Absent additional equity contributions with respect to ALLO's voting membership interests, the Company will not recognize additional losses for its voting membership interests in ALLO. (d) As of June 30, 2024, the outstanding preferred membership interests and accrued and unpaid preferred return of ALLO held by the Company was $169.5 million and $6.6 million, respectively. The Company historically earned a preferred annual return of 6.25% that increased to 10.00% on April 1, 2024 for $155.0 million of preferred membership interests of ALLO held by the Company. During the second quarter of 2024, the Company purchased an additional $14.5 million of preferred membership interests of ALLO, which earn a preferred annual return of 20.0%. The Company recognized income on its ALLO preferred membership interests of $4.2 million and $2.3 million during the three months ended June 30, 2024 and 2023, respectively, and $6.6 million and $4.5 million during the six months ended June 30, 2024 and 2023, respectively. This income is included in "other, net" in "other income (expense)" on the consolidated statements of income. (e) The Company has partial ownership in certain consumer, private education, and federally insured student loan securitizations. As of the latest remittance reports filed by the various trusts prior to or as of June 30, 2024, the Company's ownership correlates to approximately $1.12 billion, $500 million, and $315 million of consumer, private education, and federally insured student loans, respectively, included in these securitizations. During the three months ended June 30, 2024, the Company recorded a $5.9 million allowance for credit losses (and related provision expense) related to certain of the Company's beneficial interest in consumer loan securitizations. As of June 30, 2024, the Company's estimate of future cash flows from the beneficial interest in certain consumer loan securitizations was lower than previously anticipated due to increased consumer loan defaults within such securitizations. (f) As of June 30, 2024, the Company has funded a total of $502.8 million in solar investments that remain outstanding, which includes $219.8 million funded by syndication partners. The carrying value of the Company’s investment in a solar project is reduced by tax credits earned when the solar project is placed-in-service. As of June 30, 2024, the Company has earned a total of $474.4 million of tax credits on those projects that remain outstanding, which includes $218.4 million earned by syndication partners. The solar investment negative carrying value on the consolidated balance sheet of $176.1 million as of June 30, 2024 represents the sum of total tax credits earned on solar projects placed-in-service through June 30, 2024 and the calculated HLBV cumulative net losses being larger than the total investment contributions made by the Company and its syndication partners on such projects. The solar investment negative carrying value as of June 30, 2024 excluding the portion owned by syndication partners, which is reflected as "noncontrolling interests" on the consolidated balance sheet, was $84.0 million. 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 following table presents (i) the Company's recognized net (losses) gains, which include net losses attributable to third-party noncontrolling interest investors (syndication partners), included in “other, net” in "other income (expense)" on the consolidated statements of income, (ii) solar net gains (losses) attributed to noncontrolling interest investors included in “net loss attributable to noncontrolling interests” on the consolidated statements of income, and (iii) the Company's recognized net (losses) gains excluding net gains (losses) attributed to noncontrolling interest investors (such amount reflecting the before tax net income impact of such solar tax equity investments to the Company). Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Net (losses) gains $ (2,610) (10,086) 170 (13,030) Less: net gains (losses) attributed to noncontrolling interest investors (syndication partners) 8 (8,430) (1,633) (11,428) Net (losses) gains, excluding activity attributed to noncontrolling interest investors $ (2,618) (1,656) 1,803 (1,602) As of June 30, 2024, the Company is committed to fund an additional $125.7 million on solar investments, of which $83.0 million is expected to be provided by syndication partners. The following table presents, by remaining contractual maturity, the amortized cost and fair value of debt securities as of June 30, 2024: As of June 30, 2024 1 year or less After 1 year through 5 years After 5 years through 10 years After 10 years Total Available-for-sale asset-backed securities Restricted Investments: FFELP loan and other debt securities $ — 9,263 4,015 34,690 47,968 Fair value — 9,295 4,049 37,014 50,358 Non-Nelnet Bank: FFELP loan — 4,285 13,866 201,925 220,076 Private education loan — — — 258,390 258,390 Other debt securities — 100 4,000 29,573 33,673 Total Non-Nelnet Bank — 4,385 17,866 489,888 512,139 Fair value — 4,428 17,748 475,023 497,199 Nelnet Bank: FFELP loan 53,474 21,141 23,908 128,601 227,124 Other debt securities — 33,107 16,374 109,128 158,609 Total Nelnet Bank 53,474 54,248 40,282 237,729 385,733 Fair value 54,336 54,254 40,457 242,925 391,972 Total available-for-sale asset-backed securities at amortized cost $ 53,474 67,896 62,163 762,307 945,840 Total available-for-sale asset-backed securities at fair value $ 54,336 67,977 62,254 754,962 939,529 Held-to-maturity investments Non-Nelnet Bank: Debt securities $ 3,500 — — — 3,500 Fair value 3,500 — — — 3,500 Nelnet Bank: FFELP loan asset-backed securities — 3,041 1,278 212,964 217,283 Private education loan asset-backed securities — — — 8,100 8,100 Total Nelnet Bank — 3,041 1,278 221,064 225,383 Fair value — 3,129 1,304 226,330 230,763 Total held-to-maturity investments at amortized cost $ 3,500 3,041 1,278 221,064 228,883 Total held-to-maturity investments at fair value $ 3,500 3,129 1,304 226,330 234,263 Beneficial interest in loan securitizations (a): Amortized cost $ — — — — 243,969 Fair value $ — — — — 261,850 (a) The Company's beneficial interest in loan securitizations are not due at a single maturity date. The following table summarizes the unrealized positions for held-to-maturity investments and the beneficial interest in loan securitizations as of June 30, 2024: Carrying value Gross unrealized gains Gross unrealized losses (a) Fair value Asset-backed and other securities $ 228,883 5,380 — 234,263 Beneficial interest in loan securitizations 243,969 20,512 (2,631) 261,850 (a) None of the unrealized losses presented in the above table at June 30, 2024 were due to credit losses. The following table presents securities classified as available-for-sale that have gross unrealized losses at June 30, 2024 and the fair value of such securities as of June 30, 2024. These securities are segregated between investments that had been in a continuous unrealized loss position for less than twelve months and twelve months or more, based on the point in time that the fair value declined below the amortized cost basis. All securities in the table below have been evaluated to determine if a credit loss exists. As part of that assessment, the Company concluded it currently has the intent and ability to retain these investments, and none of the unrealized losses were due to credit losses. As of June 30, 2024 Unrealized loss position less than 12 months Unrealized loss position 12 months or more Total Unrealized loss Fair value Unrealized loss Fair value Unrealized loss Fair value Available-for-sale asset-backed securities Restricted Investments: FFELP loan and other debt securities $ (83) 8,167 — — (83) 8,167 Non-Nelnet Bank: FFELP loan (7) 3,494 (1,443) 79,320 (1,450) 82,814 Private education loan — — (22,442) 235,948 (22,442) 235,948 Total Non-Nelnet Bank (7) 3,494 (23,885) 315,268 (23,892) 318,762 Nelnet Bank: FFELP loan (35) 9,694 (1,315) 34,871 (1,350) 44,565 Other debt securities (42) 13,098 (1,376) 16,598 (1,418) 29,696 Total Nelnet Bank (77) 22,792 (2,691) 51,469 (2,768) 74,261 Total available-for-sale asset-backed securities $ (167) 34,453 (26,576) 366,737 (26,743) 401,190 The following table summarizes the gross proceeds received and gross realized gains and losses related to sales of available-for-sale asset-backed securities. Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 Gross proceeds from sales $ 113,173 85,375 266,547 577,548 Gross realized gains $ 1,516 920 2,571 2,194 Gross realized losses (463) (2) (966) (6,258) Net gains (losses) $ 1,053 918 1,605 (4,064)

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2024
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, 2024 (months) As of As of June 30, 2024 December 31, 2023 Amortizable intangible assets, net: Customer relationships (net of accumulated amortization of $50,661 and $46,573, respectively) 100 $ 38,943 43,031 Trade names (net of accumulated amortization of $167 and $8,268, respectively) 94 603 642 Computer software (net of accumulated amortization of $745 and $574, respectively) 34 975 1,146 Total amortizable intangible assets, net 98 $ 40,521 44,819 The Company recorded amortization expense on its intangible assets of $2.1 million and $3.5 million for the three months ended June 30, 2024 and 2023, respectively, and $4.3 million and $6.2 million during the six months ended June 30, 2024 and 2023, respectively. The Company will continue to amortize intangible assets over their remaining useful lives. As of June 30, 2024, the Company estimates it will record amortization expense as follows: 2024 (July 1 - December 31) $ 4,193 2025 6,099 2026 6,012 2027 5,714 2028 5,354 2029 and thereafter 13,149 $ 40,521

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2024
Goodwill [Abstract]
Goodwill	Goodwill The following table presents the carrying amount of goodwill as of June 30, 2024 and December 31, 2023 by reportable operating segment: Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Total Total goodwill $ 23,639 92,507 41,883 — — — 158,029

Impairment Expense, Provision f

Impairment Expense, Provision for Beneficial Interests, and Restructure Charges	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment Expense, Provision for Beneficial Interests, and Restructure Charges	Impairment Expense, Provision for Beneficial Interests, and Restructure Charges Impairment Expense and Provision for Beneficial Interests The following table presents the non-cash impairment charges by asset and reportable operating segment recognized by the Company during 2024. No impairment charges were recognized during the first six months of 2023. The Company’s impairment charges are included in “impairment expense and provision for beneficial interests” in the consolidated statements of income. Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Total Three months ended June 30, 2024 Investments - beneficial interest in consumer loan securitizations (a) $ — — 5,911 — — — 5,911 Property and equipment - solar facilities (b) — — — — — 1,170 1,170 Other assets - solar inventory (b) — — — — — 695 695 $ — — 5,911 — — 1,865 7,776 Six months ended June 30, 2024 Investments - beneficial interest in consumer loan securitizations (a) $ — — 5,911 — — — 5,911 Investments - venture capital — — — — — 37 37 Property and equipment - solar facilities (b) — — — — — 1,170 1,170 Other assets - solar inventory (b) — — — — — 695 695 $ — — 5,911 — — 1,902 7,813 (a) During the three months ended June 30, 2024, the Company recorded an allowance for credit losses (and related provision expense) related to the Company's beneficial interest in consumer loan securitizations. See note 6 for additional information. (b) On April 12, 2024, the Company announced a change in its solar engineering, procurement, and construction (EPC) operations to focus exclusively on the commercial solar market and will discontinue its residential solar operations. As a result, during the three months ended June 30, 2024, the Company recognized non-cash impairment charges on certain solar facilities and inventory related to the residential solar operations. Restructure Charges GRNE Solar On April 12, 2024, the Company announced a change in its solar EPC operations to focus exclusively on the commercial solar market and will discontinue its residential solar operations. The restructuring plan included a reduction in headcount of approximately 40 associates. The Company incurred a restructure charge of $1.6 million related to these staff reductions and commissions paid for canceled contracts, which is included in "salaries and benefits" in the consolidated statements of income. Loan Servicing and Systems (LSS)

Bank Deposits

Bank Deposits	6 Months Ended
	Jun. 30, 2024
Deposits [Abstract]
Bank Deposits	Bank Deposits The following table summarizes Nelnet Bank’s interest-bearing deposits, excluding intercompany deposits: As of As of June 30, 2024 December 31, 2023 Retail and other savings $ 622,080 520,017 Brokered CDs, net of brokered deposit fees 246,156 203,522 Retail and other CDs, net of issuance fees 22,236 20,060 Total interest-bearing deposits $ 890,472 743,599 As of June 30, 2024 and December 31, 2023, Nelnet Bank had intercompany deposits from Nelnet, Inc. and its subsidiaries totaling $143.0 million and $104.0 million, respectively, including a $40.0 million pledged deposit from Nelnet, Inc. as required under a Capital and Liquidity Maintenance Agreement with the FDIC. All intercompany deposits held at Nelnet Bank are eliminated for consolidated financial reporting purposes. The following table presents certificates of deposit remaining maturities as of June 30, 2024: One year or less $ 982 After one year to two years 149,045 After two years to three years 75,172 After three years to four years 348 After four years to five years 42,845 After five years — Total $ 268,392 Retail and other savings deposits include deposits from Educational 529 College Savings and Health Savings plans, Short Term Federal Investment Trust (STFIT), and consumer savings. These deposits are large interest-bearing omnibus accounts structured to allow FDIC insurance to flow through to underlying individual depositors. The deposits exceeding the FDIC insurance limits as of June 30, 2024, was $44.9 million, which includes a portion of the pledged deposit from Nelnet, Inc., and an earmarked deposit required for intercompany transactions.

Earnings per Common Share

Earnings per Common Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share The following table presents 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, 2024 2023 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 44,239 852 45,091 26,842 584 27,426 Denominator: Weighted-average common shares outstanding - basic and diluted 35,835,387 690,095 36,525,482 36,670,933 797,464 37,468,397 Earnings per share - basic and diluted $ 1.23 1.23 1.23 0.73 0.73 0.73 Six months ended June 30, 2024 2023 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 116,178 2,320 118,498 52,270 1,115 53,385 Denominator: Weighted-average common shares outstanding - basic and diluted 36,119,876 721,351 36,841,227 36,625,819 781,024 37,406,843 Earnings per share - basic and diluted $ 3.22 3.22 3.22 1.43 1.43 1.43

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting See note 16 of the notes to consolidated financial statements included in the 2023 Annual Report for a description of the Company's operating segments. The following tables present the results of each of the Company's reportable operating segments reconciled to the consolidated financial statements. Three months ended June 30, 2024 Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Eliminations Total Interest income: Loan interest $ — — 193,707 8,422 — — — 202,129 Investment interest 1,258 5,715 13,709 10,811 15,880 2,646 (9,282) 40,737 Total interest income 1,258 5,715 207,416 19,233 15,880 2,646 (9,282) 242,866 Interest expense — — 171,632 10,769 2,606 733 (9,282) 176,459 Net interest income 1,258 5,715 35,784 8,464 13,274 1,913 — 66,407 Less provision (negative provision) for loan losses — — (4,225) 7,836 — — — 3,611 Net interest income after provision for loan losses 1,258 5,715 40,009 628 13,274 1,913 — 62,796 Other income (expense): Loan servicing and systems revenue 109,052 — — — — — — 109,052 Intersegment revenue 6,106 56 — — — — (6,162) — Education technology services and payments revenue — 116,909 — — — — — 116,909 Solar construction revenue — — — — — 9,694 — 9,694 Other, net 685 — 1,337 775 15,702 10,372 — 28,871 Loss on sale of loans — — (1,438) — — — — (1,438) Impairment expense and provision for beneficial interests — — (5,911) — — (1,865) — (7,776) Derivative settlements, net — — 1,442 207 — — — 1,649 Derivative market value adjustments, net — — 936 597 — — — 1,533 Total other income (expense), net 115,843 116,965 (3,634) 1,579 15,702 18,201 (6,162) 258,494 Cost of services: Cost to provide education technology services and payments — 40,222 — — — — — 40,222 Cost to provide solar construction services — — — — — 8,072 — 8,072 Total cost of services — 40,222 — — — 8,072 — 48,294 Operating expenses: Salaries and benefits 70,631 40,736 1,113 2,798 374 24,786 (804) 139,634 Depreciation and amortization 5,342 2,712 — 341 — 6,748 — 15,142 Other expenses 20,661 8,600 3,793 2,067 11,829 12,842 — 59,792 Intersegment expenses, net 18,224 4,811 7,159 719 248 (25,803) (5,358) — Total operating expenses 114,858 56,859 12,065 5,925 12,451 18,573 (6,162) 214,568 Income (loss) before income taxes 2,243 25,599 24,310 (3,718) 16,525 (6,531) — 58,428 Income tax (expense) benefit (538) (6,150) (5,835) 916 (3,935) 788 — (14,753) Net income (loss) 1,705 19,449 18,475 (2,802) 12,590 (5,743) — 43,675 Net loss (income) attributable to noncontrolling interests — 29 — — (129) 1,516 — 1,416 Net income (loss) attributable to Nelnet, Inc. $ 1,705 19,478 18,475 (2,802) 12,461 (4,227) — 45,091 Total assets as of June 30, 2024 $ 264,381 478,077 11,315,210 1,185,302 1,038,068 778,549 (558,394) 14,501,193 Three months ended June 30, 2023 Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Eliminations Total Interest income: Loan interest $ — — 237,906 5,139 — — — 243,045 Investment interest 1,058 5,268 15,857 8,522 22,800 3,055 (15,578) 40,982 Total interest income 1,058 5,268 253,763 13,661 22,800 3,055 (15,578) 284,027 Interest expense — — 232,313 8,171 7,371 871 (15,578) 233,148 Net interest income 1,058 5,268 21,450 5,490 15,429 2,184 — 50,879 Less provision (negative provision) for loan losses — — (12,873) 1,493 — — — (11,380) Net interest income after provision for loan losses 1,058 5,268 34,323 3,997 15,429 2,184 — 62,259 Other income (expense): Loan servicing and systems revenue 122,020 — — — — — — 122,020 Intersegment revenue 7,246 65 — — — — (7,311) — Education technology services and payments revenue — 109,858 — — — — — 109,858 Solar construction revenue — — — — — 4,735 — 4,735 Other, net 605 — 1,319 620 5,967 (17,677) — (9,167) Loss on sale of loans — — (5,461) — — — — (5,461) Impairment expense and provision for beneficial interests — — — — — — — — Derivative settlements, net — — (18) 83 — — — 65 Derivative market value adjustments, net — — 897 1,108 — — — 2,005 Total other income (expense), net 129,871 109,923 (3,263) 1,811 5,967 (12,942) (7,311) 224,055 Cost of services: Cost to provide education technology services and payments — 40,407 — — — — — 40,407 Cost to provide solar construction services — — — — — 9,122 — 9,122 Total cost of services — 40,407 — — — 9,122 — 49,529 Operating expenses: Salaries and benefits 76,141 38,351 1,096 2,297 210 26,756 (145) 144,706 Depreciation and amortization 4,863 2,815 — 51 — 10,923 — 18,652 Other expenses 13,818 9,692 4,115 1,624 4,134 12,613 — 45,997 Intersegment expenses, net 19,079 5,884 8,145 92 127 (26,161) (7,166) — Total operating expenses 113,901 56,742 13,356 4,064 4,471 24,131 (7,311) 209,355 Income (loss) before income taxes 17,028 18,042 17,704 1,744 16,925 (44,011) — 27,430 Income tax (expense) benefit (4,086) (4,327) (4,249) (396) (4,031) 6,902 — (10,187) Net income (loss) 12,942 13,715 13,455 1,348 12,894 (37,109) — 17,243 Net loss (income) attributable to noncontrolling interests — (19) — — (128) 10,330 — 10,183 Net income (loss) attributable to Nelnet, Inc. $ 12,942 13,696 13,455 1,348 12,766 (26,779) — 27,426 Total assets as of June 30, 2023 $ 173,926 482,922 14,667,357 1,005,043 1,099,212 970,987 (613,757) 17,785,690 Six months ended June 30, 2024 Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Eliminations Total Interest income: Loan interest $ — — 403,335 15,518 — — — 418,853 Investment interest 3,152 13,580 35,544 20,779 31,495 6,461 (18,197) 92,814 Total interest income 3,152 13,580 438,879 36,297 31,495 6,461 (18,197) 511,667 Interest expense — — 362,537 20,266 5,024 1,409 (18,197) 371,039 Net interest income 3,152 13,580 76,342 16,031 26,471 5,052 — 140,628 Less provision (negative provision) for loan losses — — 2,230 12,210 — — — 14,440 Net interest income after provision for loan losses 3,152 13,580 74,112 3,821 26,471 5,052 — 126,188 Other income (expense): Loan servicing and systems revenue 236,252 — — — — — — 236,252 Intersegment revenue 12,991 106 — — — — (13,097) — Education technology services and payments revenue — 260,449 — — — — — 260,449 Solar construction revenue — — — — — 23,420 — 23,420 Other, net 1,395 — 6,321 1,150 28,644 8,224 — 45,734 Loss on sale of loans — — (1,579) — — — — (1,579) Impairment expense and provision for beneficial interests — — (5,911) — — (1,902) — (7,813) Derivative settlements, net — — 2,997 409 — — — 3,406 Derivative market value adjustments, net — — 6,642 2,855 — — — 9,497 Total other income (expense), net 250,638 260,555 8,470 4,414 28,644 29,742 (13,097) 569,366 Cost of services: Cost to provide education technology services and payments — 88,832 — — — — — 88,832 Cost to provide solar construction services — — — — — 22,300 — 22,300 Total cost of services — 88,832 — — — 22,300 — 111,132 Operating expenses: Salaries and benefits 147,353 80,903 2,308 5,518 732 48,307 (1,611) 283,509 Depreciation and amortization 10,450 5,395 — 601 — 15,464 — 31,911 Other expenses 40,198 16,158 7,210 3,194 23,632 26,243 — 116,637 Intersegment expenses, net 37,555 9,612 15,009 1,493 465 (52,648) (11,486) — Total operating expenses 235,556 112,068 24,527 10,806 24,829 37,366 (13,097) 432,057 Income (loss) before income taxes 18,234 73,235 58,055 (2,571) 30,286 (24,872) — 152,365 Income tax (expense) benefit (4,376) (17,585) (13,933) 657 (7,209) 4,511 — (37,936) Net income (loss) 13,858 55,650 44,122 (1,914) 23,077 (20,361) — 114,429 Net loss (income) attributable to noncontrolling interests — 46 — — (249) 4,272 — 4,069 Net income (loss) attributable to Nelnet, Inc. $ 13,858 55,696 44,122 (1,914) 22,828 (16,089) — 118,498 Total assets as of June 30, 2024 $ 264,381 478,077 11,315,210 1,185,302 1,038,068 778,549 (558,394) 14,501,193 Six months ended June 30, 2023 Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Eliminations Total Interest income: Loan interest $ — — 458,818 9,471 — — — 468,288 Investment interest 2,095 11,304 29,664 16,449 41,460 5,594 (24,860) 81,707 Total interest income 2,095 11,304 488,482 25,920 41,460 5,594 (24,860) 549,995 Interest expense — — 421,511 15,385 19,198 1,362 (24,860) 432,597 Net interest income 2,095 11,304 66,971 10,535 22,262 4,232 — 117,398 Less provision (negative provision) for loan losses — — (3,119) 3,910 — — — 791 Net interest income after provision for loan losses 2,095 11,304 70,090 6,625 22,262 4,232 — 116,607 Other income (expense): Loan servicing and systems revenue 261,247 — — — — — — 261,247 Intersegment revenue 15,036 121 — — — — (15,157) — Education technology services and payments revenue — 243,462 — — — — — 243,462 Solar construction revenue — — — — — 13,386 — 13,386 Other, net 1,213 — 4,164 830 5,226 (35,667) — (24,235) Loss on sale of loans — — (15,753) — — — — (15,753) Impairment expense and provision for beneficial interests — — — — — — — — Derivative settlements, net — — 23,319 83 — — — 23,402 Derivative market value adjustments, net — — (36,515) 1,108 — — — (35,407) Total other income (expense), net 277,496 243,583 (24,785) 2,021 5,226 (22,281) (15,157) 466,102 Cost of services: Cost to provide education technology services and payments — 88,110 — — — — — 88,110 Cost to provide solar construction services — — — — — 17,422 — 17,422 Total cost of services — 88,110 — — — 17,422 — 105,532 Operating expenses: Salaries and benefits 160,701 76,264 1,851 4,361 429 53,955 (145) 297,416 Depreciation and amortization 9,377 5,393 — 56 — 20,454 — 35,279 Other expenses 27,131 17,755 9,131 2,406 4,701 25,657 — 86,781 Intersegment expenses, net 40,136 11,684 16,841 173 256 (54,078) (15,012) — Total operating expenses 237,345 111,096 27,823 6,996 5,386 45,988 (15,157) 419,476 Income (loss) before income taxes 42,246 55,681 17,482 1,650 22,102 (81,459) — 57,701 Income tax (expense) benefit (10,139) (13,393) (4,196) (362) (5,240) 15,056 — (18,273) Net income (loss) 32,107 42,288 13,286 1,288 16,862 (66,403) — 39,428 Net loss (income) attributable to noncontrolling interests — 119 — — (269) 14,107 — 13,957 Net income (loss) attributable to Nelnet, Inc. $ 32,107 42,407 13,286 1,288 16,593 (52,296) — 53,385 Total assets as of June 30, 2023 $ 173,926 482,922 14,667,357 1,005,043 1,099,212 970,987 (613,757) 17,785,690

Disaggregated Revenue

Disaggregated Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregated Revenue	Disaggregated Revenue The following tables present disaggregated revenue by service offering or customer type for the Company's fee-based operating segments. Loan Servicing and Systems Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Government loan servicing $ 87,014 95,736 192,490 204,618 Private education and consumer loan servicing 12,959 12,063 25,577 24,225 FFELP loan servicing 3,245 3,554 6,624 6,921 Software services 4,879 5,962 9,420 15,660 Outsourced services 955 4,705 2,141 9,823 Loan servicing and systems revenue $ 109,052 122,020 236,252 261,247 Education Technology Services and Payments Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Tuition payment plan services $ 34,164 30,825 73,043 65,012 Payment processing 34,326 31,827 82,113 75,868 Education technology services 47,205 46,216 103,227 101,004 Other 1,214 990 2,066 1,578 Education technology services and payments revenue $ 116,909 109,858 260,449 243,462 Solar Construction Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Commercial revenue $ 8,777 2,329 20,355 8,205 Residential revenue (a) 917 2,406 3,065 5,181 Solar construction revenue $ 9,694 4,735 23,420 13,386 (a) On April 12, 2024, the Company announced a change in its solar engineering, procurement, and construction operations to focus exclusively on the commercial solar market and will discontinue its residential solar operations. As a result, residential revenue will continue to decline from recent historical amounts as existing customer contracts are completed. Other Income (Expense) The following table presents the components of "other, net" in "other income (expense)" on the consolidated statements of income: Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Reinsurance premiums $ 14,851 3,816 27,631 4,351 ALLO preferred return 4,160 2,274 6,569 4,523 Borrower late fee income 2,584 2,168 5,718 4,414 Investment advisory services (WRCM) 1,524 1,639 3,033 3,251 Administration/sponsor fee income 1,482 1,697 3,028 3,468 Investment activity, net 217 (3,574) (1,082) (7,154) Loss from ALLO voting membership interest investment — (12,169) (10,693) (32,382) (Loss) gain from solar investments, net (2,610) (10,086) 170 (13,030) Other 6,663 5,068 11,360 8,324 Other, net $ 28,871 (9,167) 45,734 (24,235)

Major Customer

Major Customer	6 Months Ended
	Jun. 30, 2024
Risks and Uncertainties [Abstract]
Major Customer	Major Customer Government Loan Servicing Nelnet Servicing, a subsidiary of the Company, earns loan servicing revenue from a servicing contract with the Department of Education (the "Department"). Revenue earned by the Company related to this contract was $87.0 million and $95.7 million for the three months ended June 30, 2024 and 2023, respectively, and $192.5 million and $204.6 million for the six months ended June 30, 2024 and 2023, respectively. The Company's legacy student loan servicing contract with the Department was scheduled to expire on December 14, 2023. In April 2023, Nelnet Servicing received a contract award from the Department, pursuant to which it was selected to provide continued servicing capabilities for the Department's student aid recipients under a new Unified Servicing and Data Solution (USDS) contract (the "New Government Servicing Contract") which replaced the legacy Department student loan servicing contract. The New Government Servicing Contract became effective April 24, 2023 and has a five year base period, with 2 two-year and 1 one-year possible extensions. The Department's total loan servicing volume of existing borrowers was allocated by the Department to Nelnet Servicing and four other third-party servicers that were awarded a USDS contract. Under the New Government Servicing Contract, Nelnet Servicing immediately began to make required servicing platform enhancements, for which it will be compensated from the Department on certain of these investments. Servicing under the New Government Servicing Contract went live on April 1, 2024 and the Company recognized revenue in accordance with this new contract beginning in the second quarter of 2024. The Company earned revenue for servicing borrowers under the legacy servicing contract with the Department through March 31, 2024.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2024
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, 2024 As of December 31, 2023 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Investments: Asset-backed debt securities - available-for-sale $ 100 939,429 939,529 99 955,804 955,903 Equity securities 187 — 187 73 — 73 Equity securities measured at net asset value (a) 59,434 50,834 Total investments 287 939,429 999,150 172 955,804 1,006,810 Derivative instruments — 2,112 2,112 — 452 452 Total assets $ 287 941,541 1,001,262 172 956,256 1,007,262 Liabilities: Derivative instruments $ — 780 780 — 1,976 1,976 Total liabilities $ — 780 780 — 1,976 1,976 (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, 2024 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 10,902,478 10,320,047 — — 10,902,478 Accrued loan interest receivable 619,472 619,472 — 619,472 — Cash and cash equivalents 145,478 145,478 145,478 — — Investments (at fair value) 999,150 999,150 287 939,429 — Investments - held-to-maturity 234,263 228,883 — 234,263 — Notes receivable 28,565 28,565 — 28,565 — Beneficial interest in loan securitizations 261,850 243,969 — — 261,850 Restricted cash 538,446 538,446 538,446 — — Restricted cash – due to customers 259,479 259,479 259,479 — — Derivative instruments 2,112 2,112 — 2,112 — Financial liabilities: Bonds and notes payable 9,560,951 9,567,708 — 9,560,951 — Accrued interest payable 27,141 27,141 — 27,141 — Bank deposits 869,437 890,472 575,265 294,172 — Due to customers 388,876 388,876 388,876 — — Derivative instruments 780 780 — 780 — As of December 31, 2023 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 12,800,638 12,343,819 — — 12,800,638 Accrued loan interest receivable 764,385 764,385 — 764,385 — Cash and cash equivalents 168,112 168,112 168,112 — — Investments (at fair value) 1,006,810 1,006,810 172 955,804 — Investments - held-to-maturity 163,622 162,738 — 163,622 — Notes receivable 53,747 53,747 — 53,747 — Beneficial interest in loan securitizations 262,093 225,079 — — 262,093 Restricted cash 488,723 488,723 488,723 — — Restricted cash – due to customers 368,656 368,656 368,656 — — Derivative instruments 452 452 — 452 — Financial liabilities: Bonds and notes payable 11,629,359 11,828,393 — 11,629,359 — Accrued interest payable 35,391 35,391 — 35,391 — Bank deposits 722,973 743,599 467,420 255,553 — Due to customers 425,507 425,507 425,507 — — Derivative instruments 1,976 1,976 — 1,976 — The methodologies for estimating the fair value of financial assets and liabilities are described in note 23 of the notes to consolidated financial statements included in the 2023 Annual Report.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income attributable to Nelnet, Inc.	$ 45,091	$ 27,426	$ 118,498	$ 53,385

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		The following table describes contracts, instructions, or written plans for the purchase or sale of the Company's securities adopted by the Company's directors or executive officers during the second quarter of 2024, each of which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), referred to as Rule 10b5-1 trading plans. Name and Title Date of Adoption of Rule 10b5-1 Trading Plan Scheduled Expiration Date of Rule 10b5-1 Trading Plan (a) Aggregate Number of Securities to Be Purchased or Sold William J. Munn Corporate Secretary / Chief Governance Officer / General Counsel 5/16/2024 9/15/2024 (b) Gift transfer of 100 shares of Class A common stock Michael S. Dunlap Executive Chairman 5/29/2024 9/29/2024 Gift transfer of 35,000 shares of Class A common stock (a) A trading plan may also expire on such earlier date as all transactions under the trading plan are completed. (b) This trading plan was subsequently terminated on August 2, 2024, and no transfers were made pursuant to the plan.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Michael S. Dunlap [Member]
Trading Arrangements, by Individual
Name	Michael S. Dunlap
Title	Executive Chairman
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	5/29/2024
Expiration Date	9/29/2024
Arrangement Duration	396 days
Aggregate Available	35,000	35,000
William J. Munn [Member]
Trading Arrangements, by Individual
Name	William J. Munn
Title	Corporate Secretary / Chief Governance Officer / General Counsel
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	5/16/2024
Expiration Date	9/15/2024
Arrangement Duration	122 days
Aggregate Available	100	100

Basis of Financial Reporting (P

Basis of Financial Reporting (Policies)	6 Months Ended
	Jun. 30, 2024
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, 2024 and for the three and six months ended June 30, 2024 and 2023 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2023 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, 2024 are not necessarily indicative of the results for the year ending December 31, 2024. 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, 2023 (the "2023 Annual Report").

Loans and Accrued Interest Re_2

Loans and Accrued Interest Receivable and Allowance for Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Schedule of Loans Receivable and Accrued Interest Receivable	Loans and accrued interest receivable consisted of the following: As of As of June 30, 2024 December 31, 2023 Non-Nelnet Bank: Federally insured loans: Stafford and other $ 2,308,561 2,936,174 Consolidation 7,175,172 8,750,033 Total 9,483,733 11,686,207 Private education loans 247,437 277,320 Consumer and other loans 179,447 85,935 Non-Nelnet Bank loans 9,910,617 12,049,462 Nelnet Bank: Private education loans 354,412 360,520 Consumer and other loans 187,939 72,352 Nelnet Bank loans 542,351 432,872 Accrued interest receivable 619,472 764,385 Loan discount and deferred lender fees, net of unamortized loan premiums and deferred origination costs (36,157) (33,872) Allowance for loan losses: Non-Nelnet Bank: Federally insured loans (54,180) (68,453) Private education loans (13,065) (15,750) Consumer and other loans (14,135) (11,742) Non-Nelnet Bank allowance for loan losses (81,380) (95,945) Nelnet Bank: Private education loans (3,559) (3,347) Consumer and other loans (11,825) (5,351) Nelnet Bank allowance for loan losses (15,384) (8,698) $ 10,939,519 13,108,204
Schedule of Net Charge-offs as a Percentage of Average Loans	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, 2024 December 31, 2023 Non-Nelnet Bank: Federally insured loans (a) 0.57 % 0.59 % Private education loans 5.28 % 5.68 % Consumer and other loans (b) 7.88 % 13.66 % Nelnet Bank: Private education loans 1.00 % 0.93 % Consumer and other loans 6.29 % 7.40 % (a) As of June 30, 2024 and December 31, 2023, the allowance for loan losses as a percent of the risk sharing component of federally insured student loans not covered by the federal guaranty was 20.9% and 21.8%, respectively. (b) Decrease as of June 30, 2024 compared with December 31, 2023 is due to the change in the mix of loans outstanding at the end of each period reported. The following table summarizes annualized net charge-offs as a percentage of average loans for each of the Company's loan portfolios. Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Non-Nelnet Bank: Federally insured loans 0.22 % 0.16 % 0.19 % 0.18 % Private education loans 2.64 % 1.45 % 1.85 % 1.11 % Consumer and other loans 4.62 % 4.07 % 4.98 % 3.22 % Nelnet Bank: Federally insured loans — 0.01 % — 0.01 % Private education loans 0.40 % 0.57 % 0.44 % 0.35 % Consumer and other loans 7.44 % — 7.66 % —
Schedule of 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 (a) Charge-offs Recoveries Balance at end of period Three months ended June 30, 2024 Non-Nelnet Bank: Federally insured loans $ 61,723 (1,970) (5,573) — 54,180 Private education loans 14,736 — (1,827) 156 13,065 Consumer and other loans 18,761 (2,255) (2,634) 263 14,135 Nelnet Bank: Private education loans 3,660 255 (460) 104 3,559 Consumer and other loans 7,128 7,519 (2,837) 15 11,825 $ 106,008 3,549 (13,331) 538 96,764 Three months ended June 30, 2023 Non-Nelnet Bank: Federally insured loans $ 79,331 — (5,270) — 74,061 Private education loans 15,175 — (1,069) 216 14,322 Consumer and other loans 35,317 (12,873) (2,880) 441 20,005 Nelnet Bank: Federally insured loans 160 (4) (2) — 154 Private education loans 2,894 517 (506) — 2,905 Consumer and other loans 1,827 989 — — 2,816 $ 134,704 (11,371) (9,727) 657 114,263 Six months ended June 30, 2024 Non-Nelnet Bank: Federally insured loans $ 68,453 (3,840) (10,433) — 54,180 Private education loans 15,750 (265) (2,840) 420 13,065 Consumer and other loans 11,742 6,335 (4,586) 644 14,135 Nelnet Bank: Private education loans 3,347 1,012 (906) 106 3,559 Consumer and other loans 5,351 11,236 (4,804) 42 11,825 $ 104,643 14,478 (23,569) 1,212 96,764 Six months ended June 30, 2023 Non-Nelnet Bank: Federally insured loans $ 83,593 2,411 (11,943) — 74,061 Private education loans 15,411 240 (1,709) 380 14,322 Consumer and other loans 30,263 (5,770) (5,149) 661 20,005 Nelnet Bank: Federally insured loans 170 (12) (4) — 154 Private education loans 2,390 1,129 (614) — 2,905 Consumer and other loans — 2,816 — — 2,816 $ 131,827 814 (19,419) 1,041 114,263 (a) The following table presents the reduction to provision for loan losses as a result of the loan sales described under "Loan Sales" above. Provision for current period Loan sale reduction to provision Provision Three months ended June 30, 2024 Non-Nelnet Bank Consumer and other loans $ 10,340 (12,595) (2,255) Three months ended June 30, 2023 Non-Nelnet Bank Consumer and other loans $ 8,098 (20,971) (12,873) Six months ended June 30, 2024 Non-Nelnet Bank Consumer and other loans $ 19,030 (12,695) 6,335 Six months ended June 30, 2023 Non-Nelnet Bank Consumer and other loans $ 37,307 (43,077) (5,770) Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 Provision for loan losses from allowance activity table above $ 3,549 (11,371) 14,478 814 Provision (negative provision) for unfunded loan commitments 62 (9) (38) (23) Provision (negative provision) for loan losses reported in consolidated statements of income $ 3,611 (11,380) 14,440 791
Schedule of Loan Status and Delinquencies	The following table presents the Company’s loan status and delinquency amounts. As of June 30, 2024 As of December 31, 2023 As of June 30, 2023 Federally insured loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 440,891 4.6 % $ 522,304 4.5 % $ 612,357 4.8 % Loans in forbearance 702,539 7.4 979,588 8.4 930,629 7.3 Loans in repayment status: Loans current 7,012,655 84.1 % 8,416,624 82.6 % 9,609,634 85.2 % Loans delinquent 31-60 days 339,262 4.1 377,108 3.7 496,953 4.4 Loans delinquent 61-90 days 234,746 2.8 254,553 2.5 360,728 3.2 Loans delinquent 91-120 days 151,447 1.8 187,145 1.9 157,685 1.4 Loans delinquent 121-270 days 377,660 4.5 685,829 6.7 457,100 4.1 Loans delinquent 271 days or greater 224,533 2.7 263,056 2.6 194,656 1.7 Total loans in repayment 8,340,303 88.0 100.0 % 10,184,315 87.1 100.0 % 11,276,756 87.9 100.0 % Total federally insured loans 9,483,733 100.0 % 11,686,207 100.0 % 12,819,742 100.0 % Accrued interest receivable 612,374 757,713 810,489 Loan discount, net of unamortized premiums and deferred origination costs (24,222) (28,963) (33,764) Allowance for loan losses (54,180) (68,453) (74,061) Total federally insured loans and accrued interest receivable, net of allowance for loan losses $ 10,017,705 $ 12,346,504 $ 13,522,406 Private education loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 7,906 3.2 % $ 9,475 3.4 % $ 10,440 4.6 % Loans in forbearance 2,248 0.9 2,529 0.9 1,874 0.8 Loans in repayment status: Loans current 230,512 97.1 % 257,639 97.1 % 212,522 97.6 % Loans delinquent 31-60 days 2,814 1.2 3,395 1.3 1,643 0.7 Loans delinquent 61-90 days 1,395 0.6 1,855 0.7 1,253 0.6 Loans delinquent 91 days or greater 2,562 1.1 2,427 0.9 2,324 1.1 Total loans in repayment 237,283 95.9 100.0 % 265,316 95.7 100.0 % 217,742 94.6 100.0 % Total private education loans 247,437 100.0 % 277,320 100.0 % 230,056 100.0 % Accrued interest receivable 2,407 2,653 2,196 Loan discount, net of unamortized premiums (7,194) (8,037) 183 Allowance for loan losses (13,065) (15,750) (14,322) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 229,585 $ 256,186 $ 218,113 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ 122 0.1 % $ 146 0.2 % $ 102 0.1 % Loans in repayment status: Loans current 174,295 97.2 % 81,195 94.6 % 181,864 96.1 % Loans delinquent 31-60 days 2,100 1.2 2,035 2.4 2,794 1.5 Loans delinquent 61-90 days 1,857 1.0 1,189 1.4 2,533 1.3 Loans delinquent 91 days or greater 1,073 0.6 1,370 1.6 2,034 1.1 Total loans in repayment 179,325 99.9 100.0 % 85,789 99.8 100.0 % 189,225 99.9 100.0 % Total consumer and other loans 179,447 100.0 % 85,935 100.0 % 189,327 100.0 % Accrued interest receivable 763 861 2,246 Loan discount and deferred lender fees, net of unamortized premiums (9,205) (2,474) 750 Allowance for loan losses (14,135) (11,742) (20,005) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 156,870 $ 72,580 $ 172,318 As of June 30, 2024 As of December 31, 2023 As of June 30, 2023 Private education loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 41,394 11.7 % $ 25,957 7.2 % $ 16,996 4.8 % Loans in forbearance 1,985 0.6 1,285 0.4 1,797 0.5 Loans in repayment status: Loans current 308,591 99.2 % 331,580 99.4 % 332,205 99.6 % Loans delinquent 30-59 days 934 0.3 839 0.3 691 0.2 Loans delinquent 60-89 days 444 0.2 253 0.1 241 0.1 Loans delinquent 90 days or greater 1,064 0.3 606 0.2 389 0.1 Total loans in repayment 311,033 87.7 100.0 % 333,278 92.4 100.0 % 333,526 94.7 100.0 % Total private education loans 354,412 100.0 % 360,520 100.0 % 352,319 100.0 % Accrued interest receivable 2,709 2,023 1,591 Deferred origination costs, net of unaccreted discount 5,501 5,608 5,366 Allowance for loan losses (3,559) (3,347) (2,905) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 359,063 $ 364,804 $ 356,371 Consumer and other loans - Nelnet Bank (a): Loans in deferment $ 1,414 0.8 % $ 103 0.1 % $ 6 0.0 % Loans in repayment status: Loans current 181,558 97.3 % 69,584 96.3 % 30,120 98.2 % Loans delinquent 30-59 days 1,516 0.8 1,075 1.5 277 0.9 Loans delinquent 60-89 days 1,814 1.0 941 1.3 205 0.7 Loans delinquent 90 days or greater 1,637 0.9 649 0.9 60 0.2 Total loans in repayment 186,525 99.2 100.0 % 72,249 99.9 100.0 % 30,662 100.0 100.0 % Total consumer and other loans 187,939 100.0 % 72,352 100.0 % 30,668 100.0 % Accrued interest receivable 1,219 575 214 Loan discount, net of unamortized premiums (1,037) (6) — Allowance for loan losses (11,825) (5,351) (2,816) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 176,296 $ 67,570 $ 28,066 (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.
Schedule of Loans Receivable Credit Quality Indicators	The following tables highlight the gross principal balance of Nelnet Bank's portfolios, by year of origination, stratified by FICO score at the time of origination. Nelnet Bank Private Education Loans Loan balance as of June 30, 2024 Six months ended June 30, 2024 2023 2022 2021 2020 Total FICO at origination: Less than 705 $ 451 3,957 5,200 4,413 374 14,395 705 - 734 950 9,658 20,984 8,167 513 40,272 735 - 764 1,149 9,307 31,511 13,673 1,318 56,958 765 - 794 860 6,543 49,268 25,720 1,286 83,677 Greater than 794 1,760 17,464 72,638 53,755 4,801 150,418 No FICO score available or required (a) 2,610 6,082 — — — 8,692 $ 7,780 53,011 179,601 105,728 8,292 354,412 Loan balance as of December 31, 2023 2023 2022 2021 2020 Total FICO at origination: Less than 705 $ 3,840 5,495 4,647 386 14,368 705 - 734 9,534 21,961 8,805 525 40,825 735 - 764 8,648 32,969 14,910 1,358 57,885 765 - 794 5,776 52,045 27,221 1,374 86,416 Greater than 794 15,057 77,996 58,695 5,226 156,974 No FICO score available or required (a) 4,052 — — — 4,052 $ 46,907 190,466 114,278 8,869 360,520 Nelnet Bank Consumer and Other Loans Loan balance as of June 30, 2024 Six months ended June 30, 2024 2023 2022 2021 2020 Prior years Total FICO at origination: Less than 720 $ 13,041 17,016 — 1,360 1,625 1,800 34,842 720 - 769 41,116 30,354 25 6,888 5,793 3,464 87,640 Greater than 769 35,957 19,243 106 4,899 2,262 1,062 63,529 No FICO score available or required (a) 1,153 440 281 54 — — 1,928 $ 91,267 67,053 412 13,201 9,680 6,326 187,939 Loan balance as of December 31, 2023 2023 2022 2021 2020 Prior years Total FICO at origination: Less than 720 $ 21,412 — — — — 21,412 720 - 769 33,571 51 — — — 33,622 Greater than 769 16,484 109 — — — 16,593 No FICO score available or required (a) 386 284 55 — — 725 $ 71,853 444 55 — — 72,352 (a) Loans with no FICO score available or required refers to loans issued to borrowers for which the Company cannot obtain a FICO score or are not required to under a special purpose credit program. Management proactively assesses the risk and size of this loan category and, when necessary, takes actions to mitigate the credit risk. 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, 2024 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, 2024 2023 2022 2021 2020 Prior years Total Private education loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ — — 657 3,325 713 3,211 7,906 Loans in forbearance — — 356 140 429 1,323 2,248 Loans in repayment status: Loans current — 207 4,053 5,141 42,508 178,603 230,512 Loans delinquent 31-60 days — — 13 45 380 2,376 2,814 Loans delinquent 61-90 days — — 7 8 167 1,213 1,395 Loans delinquent 91 days or greater — — — 7 115 2,440 2,562 Total loans in repayment — 207 4,073 5,201 43,170 184,632 237,283 Total private education loans $ — 207 5,086 8,666 44,312 189,166 247,437 Accrued interest receivable 2,407 Loan discount, net of unamortized premiums (7,194) Allowance for loan losses (13,065) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 229,585 Gross charge-offs - six months ended June 30, 2024 $ — — — 76 36 2,728 2,840 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ — 122 — — — — 122 Loans in repayment status: Loans current 131,766 37,985 3,624 526 283 111 174,295 Loans delinquent 31-60 days 160 1,394 433 103 7 3 2,100 Loans delinquent 61-90 days 42 1,158 649 8 — — 1,857 Loans delinquent 91 days or greater 14 852 176 14 17 — 1,073 Total loans in repayment 131,982 41,389 4,882 651 307 114 179,325 Total consumer and other loans $ 131,982 41,511 4,882 651 307 114 179,447 Accrued interest receivable 763 Loan discount and deferred lender fees, net of unamortized premiums (9,205) Allowance for loan losses (14,135) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 156,870 Gross charge-offs - six months ended June 30, 2024 $ — 2,611 1,678 213 23 61 4,586 Private education loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 5,107 25,688 8,993 674 932 — 41,394 Loans in forbearance 24 149 1,274 430 108 — 1,985 Loans in repayment status: Loans current 2,629 26,518 168,736 103,612 7,096 — 308,591 Loans delinquent 30-59 days 17 292 96 420 109 — 934 Loans delinquent 60-89 days 3 159 217 65 — — 444 Loans delinquent 90 days or greater — 205 285 527 47 — 1,064 Total loans in repayment 2,649 27,174 169,334 104,624 7,252 — 311,033 Total private education loans $ 7,780 53,011 179,601 105,728 8,292 — 354,412 Accrued interest receivable 2,709 Deferred origination costs, net of unaccreted discount 5,501 Allowance for loan losses (3,559) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 359,063 Gross charge-offs - six months ended June 30, 2024 $ — 324 348 234 — — 906 Six months ended June 30, 2024 2023 2022 2021 2020 Prior years Total Consumer and other loans - Nelnet Bank (a): Loans in deferment $ 1,308 106 — — — — 1,414 Loans in repayment status: Loans current 89,467 62,838 412 12,980 9,656 6,205 181,558 Loans delinquent 30-59 days 146 1,247 — 57 6 60 1,516 Loans delinquent 60-89 days 223 1,459 — 92 — 40 1,814 Loans delinquent 90 days or greater 123 1,403 — 72 18 21 1,637 Total loans in repayment 89,959 66,947 412 13,201 9,680 6,326 186,525 Total consumer and other loans $ 91,267 67,053 412 13,201 9,680 6,326 187,939 Accrued interest receivable 1,219 Loan discount, net of unamortized premiums (1,037) Allowance for loan losses (11,825) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 176,296 Gross charge-offs - six months ended June 30, 2024 $ 73 4,724 — — — 7 4,804 (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, 2024
Debt Disclosure [Abstract]
Schedule of Outstanding Debt Obligations	The following tables summarize the Company’s outstanding debt obligations by type of instrument: As of June 30, 2024 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 $ 7,945,989 5.46% - 7.46% 8/26/30 - 9/25/69 Bonds and notes based on auction 75,735 0.00% - 6.45% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 8,021,724 Fixed-rate bonds and notes issued in FFELP loan asset-backed 389,462 1.42% - 3.45% 10/25/67 - 8/27/68 FFELP loan warehouse facilities 964,196 5.41% - 5.53% 7/15/25 / 4/1/26 Consumer loan warehouse facility 6,760 5.54% 11/14/25 Variable-rate bonds and notes issued in private education loan asset-backed securitizations 65,683 6.90% / 7.59% 6/25/49 / 11/25/53 Fixed-rate bonds and notes issued in private education loan asset-backed securitizations 63,203 5.35% / 7.15% 12/28/43 / 11/25/53 Unsecured line of credit — — 9/22/26 Participation agreements 7,728 5.58% - 6.08% 5/4/25 / 1/30/33 Repurchase agreement 111,189 6.44% - 6.75% 11/27/24 / 12/20/24 Other - due to related party 4,856 5.00% 11/15/28 - 11/15/30 9,634,801 Discount on bonds and notes payable and debt issuance costs (67,093) Total $ 9,567,708 As of December 31, 2023 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 $ 9,552,667 5.45% - 7.47% 8/26/30 - 9/25/69 Bonds and notes based on auction 87,360 0.00% - 6.45% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 9,640,027 Fixed-rate bonds and notes issued in FFELP loan asset-backed securitizations 471,427 1.42% - 3.45% 10/25/67 - 8/27/68 FFELP loan warehouse facilities 1,398,485 5.41% - 5.70% 4/2/25 / 5/22/25 Consumer loan warehouse facility 23,691 5.70% 11/14/25 Variable-rate bonds and notes issued in private education loan asset-backed securitizations 80,393 6.90% / 7.57% 6/25/49 / 11/25/53 Fixed-rate bonds and notes issued in private education loan asset-backed securitizations 80,130 5.35% / 7.15% 12/28/43 / 11/25/53 Unsecured line of credit — — 9/22/26 Participation agreements 10,063 5.58% - 6.08% 3/12/24 / 5/4/24 Repurchase agreement 208,164 6.35% - 6.81% 1/22/24 - 12/20/24 Other - due to related party 5,778 5.00% - 6.05% 3/1/24 - 11/15/30 11,918,158 Discount on bonds and notes payable and debt issuance costs (89,765) Total $ 11,828,393
Schedule of Outstanding Line of Credit Facilities	The following table summarizes the Company's warehouse facilities as of June 30, 2024. Type of loans Maximum financing amount Amount outstanding Amount available Expiration of liquidity provisions Final maturity date Advance rate Advanced as equity support FFELP (a) $ 875,000 643,034 231,966 7/15/2024 7/15/2025 note (b) $ 45,502 FFELP (c) 375,000 321,162 53,838 4/1/2025 4/1/2026 92 % 26,539 $ 1,250,000 964,196 285,804 $ 72,041 Consumer (d) $ 150,000 6,760 143,240 11/14/2024 11/14/2025 70 % $ 1,781 (a) Effective March 6, 2024, the maximum financing amount on this facility was reduced from $1.25 billion to $950 million. On May 17, 2024, this facility was amended to reduce the maximum financing amount from $950 million to $875 million, and to extend the expiration of liquidity provisions and final maturity date to July 15, 2024 and July 15, 2025, respectively. On July 15, 2024, this facility was amended to reduce the maximum financing amount from $875 million to $800 million, and to extend the expiration of liquidity provisions and final maturity date to January 31, 2025 and January 31, 2026, respectively. (b) This facility has a static advance rate until the expiration date of the liquidity provisions. The maximum advance rates for this facility are 90% to 96%, and the minimum advance rates are 84% to 90%. In the event the liquidity provisions are not extended, the valuation agent has the right to perform a one-time mark to market on the underlying loans funded in this facility, subject to a floor. The loans would then be funded at this new advance rate until the final maturity date of the facility. (c) On April 2, 2024, this facility was amended to reduce the maximum financing amount from $432 million to $375 million, and to extend the expiration of liquidity provisions and final maturity date to April 1, 2025 and April 1, 2026, respectively. (d) On March 11, 2024, this facility was amended to reduce the maximum financing amount from $200 million to $150 million.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts on Outstanding Derivatives	The following table summarizes the Company’s outstanding basis swaps, in which the Company receives and pays the term adjusted Secured Overnight Financing Rate (SOFR) plus the tenor spread adjustment to LIBOR. Prior to the discontinuation of LIBOR on June 30, 2023, the Company received three-month LIBOR set discretely in advance and paid 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, 2024 December 31, 2023 2024 $ — 1,750,000 2026 1,150,000 1,150,000 2027 250,000 250,000 $ 1,400,000 3,150,000 The following table summarizes the outstanding derivative instruments used by the Company as of June 30, 2024 and December 31, 2023 to economically hedge loans earning fixed rate floor income. Maturity Notional amount Weighted average fixed rate paid by the Company (a) 2026 $ 200,000 3.92 % 2028 50,000 3.56 2029 (b) 50,000 3.17 2030 (c) 100,000 3.63 $ 400,000 3.71 % (a) For all interest rate derivatives, the Company receives payments based on SOFR, the majority of which reset quarterly. (b) This $50 million notional amount derivative has a forward effective start date in January 2026. (c) A $50 million notional amount derivative maturing in 2030 has a forward effective start date in November 2025. The following table summarizes the outstanding non-centrally cleared derivative instruments used by Nelnet Bank as of June 30, 2024 and December 31, 2023 to hedge exposure to variability in cash flows related to variable rate intercompany deposits. Maturity Notional amount Weighted average fixed rate paid by the Company (a) 2028 $ 40,000 3.33 % 2030 (b) 50,000 3.06 2032 (c) 25,000 4.03 2033 (d) 25,000 3.90 $ 140,000 3.46 % (a) For all interest rate derivatives, the Company receives payments based on SOFR that reset monthly or quarterly. (b) These $25 million notional amount derivatives have forward effective start dates in April 2026 and May 2026, respectively. (c) This $25 million notional amount derivative has a forward effective start date in February 2027. (d) This $25 million notional amount derivative has a forward effective start date in November 2025.
Schedule of Fair Value of Asset Derivatives	The following table summarizes the fair value of the Company's Nelnet Bank derivatives as reflected in the consolidated balance sheets. Fair value of asset derivatives Fair value of liability derivatives As of June 30, 2024 As of December 31, 2023 As of June 30, 2024 As of December 31, 2023 Interest rate swaps - Nelnet Bank $ 2,112 452 780 1,976
Schedule of Fair Value of Liabilities Derivatives	The following table summarizes the fair value of the Company's Nelnet Bank derivatives as reflected in the consolidated balance sheets. Fair value of asset derivatives Fair value of liability derivatives As of June 30, 2024 As of December 31, 2023 As of June 30, 2024 As of December 31, 2023 Interest rate swaps - Nelnet Bank $ 2,112 452 780 1,976
Schedule of 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, 2024 2023 2024 2023 Settlements: 1:3 basis swaps $ 249 (65) 614 794 Interest rate swaps - floor income hedges 1,193 47 2,383 22,525 Interest rate swaps - Nelnet Bank 207 83 409 83 Total settlements - income 1,649 65 3,406 23,402 Change in fair value: 1:3 basis swaps (232) 235 (586) 211 Interest rate swaps - floor income hedges 1,168 662 7,228 (36,726) Interest rate swaps - Nelnet Bank 597 1,108 2,855 1,108 Total change in fair value - income (expense) 1,533 2,005 9,497 (35,407) Derivative market value adjustments and derivative settlements, net - income (expense) $ 3,182 2,070 12,903 (12,005)

Investments and Notes Receiva_2

Investments and Notes Receivable (Tables)	6 Months Ended
	Jun. 30, 2024
Investments [Abstract]
Schedule of Investments and Notes Receivable	"Restricted investments" and “investments and notes receivable” consisted of the following: As of June 30, 2024 As of December 31, 2023 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Amortized cost Gross unrealized gains Gross unrealized losses Fair value Restricted available-for-sale investments (at fair value): FFELP loan and other debt securities $ 47,968 2,473 (83) 50,358 16,993 1,069 (93) 17,969 Non-restricted available-for-sale investments (at fair value): Non-Nelnet Bank: FFELP loan $ 220,076 6,910 (1,450) 225,536 271,479 4,883 (5,393) 270,969 Private education loan (a) 258,390 — (22,442) 235,948 281,791 — (28,874) 252,917 Other debt securities 33,673 2,042 — 35,715 41,693 2,020 (1,275) 42,438 Total Non-Nelnet Bank 512,139 8,952 (23,892) 497,199 594,963 6,903 (35,542) 566,324 Nelnet Bank: FFELP loan (b) 227,124 8,090 (1,350) 233,864 304,555 4,488 (2,286) 306,757 Private education loan — — — — 17,083 20 (10) 17,093 Other debt securities 158,609 917 (1,418) 158,108 49,284 117 (1,641) 47,760 Total Nelnet Bank 385,733 9,007 (2,768) 391,972 370,922 4,625 (3,937) 371,610 Total available-for-sale asset-backed securities $ 897,872 17,959 (26,660) 889,171 965,885 11,528 (39,479) 937,934 Equity securities 59,621 50,907 Total investments at fair value 948,792 988,841 Other Investments and Notes Receivable (not measured at fair value): Held-to-maturity investments Non-Nelnet Bank: Debt securities 3,500 4,700 Nelnet Bank: FFELP loan asset-backed securities (b) 217,283 149,938 Private education loan asset-backed securities 8,100 8,100 Total Nelnet Bank 225,383 158,038 Total held-to-maturity investments 228,883 162,738 Venture capital and funds: Measurement alternative 196,803 194,084 Equity method 114,800 91,464 Total venture capital and funds 311,603 285,548 Real estate: Equity method 125,989 103,811 Investment in ALLO: Voting interest/equity method (c) — 10,693 Preferred membership interest and accrued and unpaid preferred return (d) 176,092 155,047 Total investment in ALLO 176,092 165,740 Beneficial interest in loan securitizations (e): Consumer loans, net of allowance for credit losses of $5,911 as of June 30, 2024 163,853 134,113 Private education loans 59,326 68,372 Federally insured student loans 20,790 22,594 Total beneficial interest in loan securitizations 243,969 225,079 Solar (f) (176,105) (146,040) Notes receivable 28,565 53,747 Tax liens, affordable housing, and other 8,645 7,243 Total investments (not measured at fair value) 947,641 857,866 Total investments and notes receivable $ 1,896,433 $ 1,846,707 (a) A portion of the private education loan asset-backed securities were subject to a repurchase agreement with a third party, as discussed in note 4 under "Repurchase Agreement." As of June 30, 2024, the par value and fair value of these securities was $148.1 million and $130.7 million, respectively. (b) On May 22, 2024, securities at Nelnet Bank with a fair value of $70.6 million were transferred from available-for-sale to held-to-maturity. The securities were reclassified at fair value at the time of the transfer, and such transfer represented a non-cash transaction. Accumulated other comprehensive income as of May 22, 2024 included pre-tax unrealized gains of $3.4 million related to the transfer. These unrealized gains will be amortized, consistent with the amortization of any premiums on such securities, over the remaining lives of the respective securities as an adjustment of yield. (c) The Company accounts for its voting membership interests in ALLO under the Hypothetical Liquidation at Book Value (HLBV) method of accounting. Under the HLBV method of accounting on its ALLO voting membership interests investment, the Company recognized no losses and $12.2 million of losses during the three months ended June 30, 2024 and 2023, respectively, and losses of $10.7 million and $32.4 million during the six months ended June 30, 2024 and 2023, respectively. Losses from the Company's investment in ALLO are included in "other, net" in "other income (expense)" on the consolidated statements of income. Absent additional equity contributions with respect to ALLO's voting membership interests, the Company will not recognize additional losses for its voting membership interests in ALLO. (d) As of June 30, 2024, the outstanding preferred membership interests and accrued and unpaid preferred return of ALLO held by the Company was $169.5 million and $6.6 million, respectively. The Company historically earned a preferred annual return of 6.25% that increased to 10.00% on April 1, 2024 for $155.0 million of preferred membership interests of ALLO held by the Company. During the second quarter of 2024, the Company purchased an additional $14.5 million of preferred membership interests of ALLO, which earn a preferred annual return of 20.0%. The Company recognized income on its ALLO preferred membership interests of $4.2 million and $2.3 million during the three months ended June 30, 2024 and 2023, respectively, and $6.6 million and $4.5 million during the six months ended June 30, 2024 and 2023, respectively. This income is included in "other, net" in "other income (expense)" on the consolidated statements of income. (e) The Company has partial ownership in certain consumer, private education, and federally insured student loan securitizations. As of the latest remittance reports filed by the various trusts prior to or as of June 30, 2024, the Company's ownership correlates to approximately $1.12 billion, $500 million, and $315 million of consumer, private education, and federally insured student loans, respectively, included in these securitizations. During the three months ended June 30, 2024, the Company recorded a $5.9 million allowance for credit losses (and related provision expense) related to certain of the Company's beneficial interest in consumer loan securitizations. As of June 30, 2024, the Company's estimate of future cash flows from the beneficial interest in certain consumer loan securitizations was lower than previously anticipated due to increased consumer loan defaults within such securitizations. (f) As of June 30, 2024, the Company has funded a total of $502.8 million in solar investments that remain outstanding, which includes $219.8 million funded by syndication partners. The carrying value of the Company’s investment in a solar project is reduced by tax credits earned when the solar project is placed-in-service. As of June 30, 2024, the Company has earned a total of $474.4 million of tax credits on those projects that remain outstanding, which includes $218.4 million earned by syndication partners. The solar investment negative carrying value on the consolidated balance sheet of $176.1 million as of June 30, 2024 represents the sum of total tax credits earned on solar projects placed-in-service through June 30, 2024 and the calculated HLBV cumulative net losses being larger than the total investment contributions made by the Company and its syndication partners on such projects. The solar investment negative carrying value as of June 30, 2024 excluding the portion owned by syndication partners, which is reflected as "noncontrolling interests" on the consolidated balance sheet, was $84.0 million. 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 following table presents (i) the Company's recognized net (losses) gains, which include net losses attributable to third-party noncontrolling interest investors (syndication partners), included in “other, net” in "other income (expense)" on the consolidated statements of income, (ii) solar net gains (losses) attributed to noncontrolling interest investors included in “net loss attributable to noncontrolling interests” on the consolidated statements of income, and (iii) the Company's recognized net (losses) gains excluding net gains (losses) attributed to noncontrolling interest investors (such amount reflecting the before tax net income impact of such solar tax equity investments to the Company). Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Net (losses) gains $ (2,610) (10,086) 170 (13,030) Less: net gains (losses) attributed to noncontrolling interest investors (syndication partners) 8 (8,430) (1,633) (11,428) Net (losses) gains, excluding activity attributed to noncontrolling interest investors $ (2,618) (1,656) 1,803 (1,602) As of June 30, 2024, the Company is committed to fund an additional $125.7 million on solar investments, of which $83.0 million is expected to be provided by syndication partners.
Schedule of Investments Classified by Contractual Maturity Date	The following table presents, by remaining contractual maturity, the amortized cost and fair value of debt securities as of June 30, 2024: As of June 30, 2024 1 year or less After 1 year through 5 years After 5 years through 10 years After 10 years Total Available-for-sale asset-backed securities Restricted Investments: FFELP loan and other debt securities $ — 9,263 4,015 34,690 47,968 Fair value — 9,295 4,049 37,014 50,358 Non-Nelnet Bank: FFELP loan — 4,285 13,866 201,925 220,076 Private education loan — — — 258,390 258,390 Other debt securities — 100 4,000 29,573 33,673 Total Non-Nelnet Bank — 4,385 17,866 489,888 512,139 Fair value — 4,428 17,748 475,023 497,199 Nelnet Bank: FFELP loan 53,474 21,141 23,908 128,601 227,124 Other debt securities — 33,107 16,374 109,128 158,609 Total Nelnet Bank 53,474 54,248 40,282 237,729 385,733 Fair value 54,336 54,254 40,457 242,925 391,972 Total available-for-sale asset-backed securities at amortized cost $ 53,474 67,896 62,163 762,307 945,840 Total available-for-sale asset-backed securities at fair value $ 54,336 67,977 62,254 754,962 939,529 Held-to-maturity investments Non-Nelnet Bank: Debt securities $ 3,500 — — — 3,500 Fair value 3,500 — — — 3,500 Nelnet Bank: FFELP loan asset-backed securities — 3,041 1,278 212,964 217,283 Private education loan asset-backed securities — — — 8,100 8,100 Total Nelnet Bank — 3,041 1,278 221,064 225,383 Fair value — 3,129 1,304 226,330 230,763 Total held-to-maturity investments at amortized cost $ 3,500 3,041 1,278 221,064 228,883 Total held-to-maturity investments at fair value $ 3,500 3,129 1,304 226,330 234,263 Beneficial interest in loan securitizations (a): Amortized cost $ — — — — 243,969 Fair value $ — — — — 261,850 (a) The Company's beneficial interest in loan securitizations are not due at a single maturity date.
Schedule of Debt Securities, Held-to-Maturity and Beneficial Interest in Securitization	The following table summarizes the unrealized positions for held-to-maturity investments and the beneficial interest in loan securitizations as of June 30, 2024: Carrying value Gross unrealized gains Gross unrealized losses (a) Fair value Asset-backed and other securities $ 228,883 5,380 — 234,263 Beneficial interest in loan securitizations 243,969 20,512 (2,631) 261,850 (a) None of the unrealized losses presented in the above table at June 30, 2024 were due to credit losses.
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value	The following table presents securities classified as available-for-sale that have gross unrealized losses at June 30, 2024 and the fair value of such securities as of June 30, 2024. These securities are segregated between investments that had been in a continuous unrealized loss position for less than twelve months and twelve months or more, based on the point in time that the fair value declined below the amortized cost basis. All securities in the table below have been evaluated to determine if a credit loss exists. As part of that assessment, the Company concluded it currently has the intent and ability to retain these investments, and none of the unrealized losses were due to credit losses. As of June 30, 2024 Unrealized loss position less than 12 months Unrealized loss position 12 months or more Total Unrealized loss Fair value Unrealized loss Fair value Unrealized loss Fair value Available-for-sale asset-backed securities Restricted Investments: FFELP loan and other debt securities $ (83) 8,167 — — (83) 8,167 Non-Nelnet Bank: FFELP loan (7) 3,494 (1,443) 79,320 (1,450) 82,814 Private education loan — — (22,442) 235,948 (22,442) 235,948 Total Non-Nelnet Bank (7) 3,494 (23,885) 315,268 (23,892) 318,762 Nelnet Bank: FFELP loan (35) 9,694 (1,315) 34,871 (1,350) 44,565 Other debt securities (42) 13,098 (1,376) 16,598 (1,418) 29,696 Total Nelnet Bank (77) 22,792 (2,691) 51,469 (2,768) 74,261 Total available-for-sale asset-backed securities $ (167) 34,453 (26,576) 366,737 (26,743) 401,190
Schedule of Gross Proceeds Received and Gross Realized Gains and Losses for Sales of Available-for-Sale Asset-Backed Securities	The following table summarizes the gross proceeds received and gross realized gains and losses related to sales of available-for-sale asset-backed securities. Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 Gross proceeds from sales $ 113,173 85,375 266,547 577,548 Gross realized gains $ 1,516 920 2,571 2,194 Gross realized losses (463) (2) (966) (6,258) Net gains (losses) $ 1,053 918 1,605 (4,064)

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following: Weighted average remaining useful life as of June 30, 2024 (months) As of As of June 30, 2024 December 31, 2023 Amortizable intangible assets, net: Customer relationships (net of accumulated amortization of $50,661 and $46,573, respectively) 100 $ 38,943 43,031 Trade names (net of accumulated amortization of $167 and $8,268, respectively) 94 603 642 Computer software (net of accumulated amortization of $745 and $574, respectively) 34 975 1,146 Total amortizable intangible assets, net 98 $ 40,521 44,819
Schedule of Intangible Assets Future Amortization Expense	The Company will continue to amortize intangible assets over their remaining useful lives. As of June 30, 2024, the Company estimates it will record amortization expense as follows: 2024 (July 1 - December 31) $ 4,193 2025 6,099 2026 6,012 2027 5,714 2028 5,354 2029 and thereafter 13,149 $ 40,521

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill [Abstract]
Schedule of Goodwill	The following table presents the carrying amount of goodwill as of June 30, 2024 and December 31, 2023 by reportable operating segment: Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Total Total goodwill $ 23,639 92,507 41,883 — — — 158,029

Impairment Expense, Provision_2

Impairment Expense, Provision for Beneficial Interests, and Restructure Charges (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment Charges by Asset and Segment	The following table presents the non-cash impairment charges by asset and reportable operating segment recognized by the Company during 2024. No impairment charges were recognized during the first six months of 2023. The Company’s impairment charges are included in “impairment expense and provision for beneficial interests” in the consolidated statements of income. Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Total Three months ended June 30, 2024 Investments - beneficial interest in consumer loan securitizations (a) $ — — 5,911 — — — 5,911 Property and equipment - solar facilities (b) — — — — — 1,170 1,170 Other assets - solar inventory (b) — — — — — 695 695 $ — — 5,911 — — 1,865 7,776 Six months ended June 30, 2024 Investments - beneficial interest in consumer loan securitizations (a) $ — — 5,911 — — — 5,911 Investments - venture capital — — — — — 37 37 Property and equipment - solar facilities (b) — — — — — 1,170 1,170 Other assets - solar inventory (b) — — — — — 695 695 $ — — 5,911 — — 1,902 7,813 (a) During the three months ended June 30, 2024, the Company recorded an allowance for credit losses (and related provision expense) related to the Company's beneficial interest in consumer loan securitizations. See note 6 for additional information. (b) On April 12, 2024, the Company announced a change in its solar engineering, procurement, and construction (EPC) operations to focus exclusively on the commercial solar market and will discontinue its residential solar operations. As a result, during the three months ended June 30, 2024, the Company recognized non-cash impairment charges on certain solar facilities and inventory related to the residential solar operations.

Bank Deposits (Tables)

Bank Deposits (Tables)	6 Months Ended
	Jun. 30, 2024
Deposits [Abstract]
Schedule of Interest-Bearing Deposits	The following table summarizes Nelnet Bank’s interest-bearing deposits, excluding intercompany deposits: As of As of June 30, 2024 December 31, 2023 Retail and other savings $ 622,080 520,017 Brokered CDs, net of brokered deposit fees 246,156 203,522 Retail and other CDs, net of issuance fees 22,236 20,060 Total interest-bearing deposits $ 890,472 743,599
Schedule of Certificates of Deposit Maturities	The following table presents certificates of deposit remaining maturities as of June 30, 2024: One year or less $ 982 After one year to two years 149,045 After two years to three years 75,172 After three years to four years 348 After four years to five years 42,845 After five years — Total $ 268,392

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings per Share	The following table presents 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, 2024 2023 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 44,239 852 45,091 26,842 584 27,426 Denominator: Weighted-average common shares outstanding - basic and diluted 35,835,387 690,095 36,525,482 36,670,933 797,464 37,468,397 Earnings per share - basic and diluted $ 1.23 1.23 1.23 0.73 0.73 0.73 Six months ended June 30, 2024 2023 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 116,178 2,320 118,498 52,270 1,115 53,385 Denominator: Weighted-average common shares outstanding - basic and diluted 36,119,876 721,351 36,841,227 36,625,819 781,024 37,406,843 Earnings per share - basic and diluted $ 3.22 3.22 3.22 1.43 1.43 1.43

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Reportable Operating Segments Reconciled to Consolidated Financial Statements	The following tables present the results of each of the Company's reportable operating segments reconciled to the consolidated financial statements. Three months ended June 30, 2024 Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Eliminations Total Interest income: Loan interest $ — — 193,707 8,422 — — — 202,129 Investment interest 1,258 5,715 13,709 10,811 15,880 2,646 (9,282) 40,737 Total interest income 1,258 5,715 207,416 19,233 15,880 2,646 (9,282) 242,866 Interest expense — — 171,632 10,769 2,606 733 (9,282) 176,459 Net interest income 1,258 5,715 35,784 8,464 13,274 1,913 — 66,407 Less provision (negative provision) for loan losses — — (4,225) 7,836 — — — 3,611 Net interest income after provision for loan losses 1,258 5,715 40,009 628 13,274 1,913 — 62,796 Other income (expense): Loan servicing and systems revenue 109,052 — — — — — — 109,052 Intersegment revenue 6,106 56 — — — — (6,162) — Education technology services and payments revenue — 116,909 — — — — — 116,909 Solar construction revenue — — — — — 9,694 — 9,694 Other, net 685 — 1,337 775 15,702 10,372 — 28,871 Loss on sale of loans — — (1,438) — — — — (1,438) Impairment expense and provision for beneficial interests — — (5,911) — — (1,865) — (7,776) Derivative settlements, net — — 1,442 207 — — — 1,649 Derivative market value adjustments, net — — 936 597 — — — 1,533 Total other income (expense), net 115,843 116,965 (3,634) 1,579 15,702 18,201 (6,162) 258,494 Cost of services: Cost to provide education technology services and payments — 40,222 — — — — — 40,222 Cost to provide solar construction services — — — — — 8,072 — 8,072 Total cost of services — 40,222 — — — 8,072 — 48,294 Operating expenses: Salaries and benefits 70,631 40,736 1,113 2,798 374 24,786 (804) 139,634 Depreciation and amortization 5,342 2,712 — 341 — 6,748 — 15,142 Other expenses 20,661 8,600 3,793 2,067 11,829 12,842 — 59,792 Intersegment expenses, net 18,224 4,811 7,159 719 248 (25,803) (5,358) — Total operating expenses 114,858 56,859 12,065 5,925 12,451 18,573 (6,162) 214,568 Income (loss) before income taxes 2,243 25,599 24,310 (3,718) 16,525 (6,531) — 58,428 Income tax (expense) benefit (538) (6,150) (5,835) 916 (3,935) 788 — (14,753) Net income (loss) 1,705 19,449 18,475 (2,802) 12,590 (5,743) — 43,675 Net loss (income) attributable to noncontrolling interests — 29 — — (129) 1,516 — 1,416 Net income (loss) attributable to Nelnet, Inc. $ 1,705 19,478 18,475 (2,802) 12,461 (4,227) — 45,091 Total assets as of June 30, 2024 $ 264,381 478,077 11,315,210 1,185,302 1,038,068 778,549 (558,394) 14,501,193 Three months ended June 30, 2023 Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Eliminations Total Interest income: Loan interest $ — — 237,906 5,139 — — — 243,045 Investment interest 1,058 5,268 15,857 8,522 22,800 3,055 (15,578) 40,982 Total interest income 1,058 5,268 253,763 13,661 22,800 3,055 (15,578) 284,027 Interest expense — — 232,313 8,171 7,371 871 (15,578) 233,148 Net interest income 1,058 5,268 21,450 5,490 15,429 2,184 — 50,879 Less provision (negative provision) for loan losses — — (12,873) 1,493 — — — (11,380) Net interest income after provision for loan losses 1,058 5,268 34,323 3,997 15,429 2,184 — 62,259 Other income (expense): Loan servicing and systems revenue 122,020 — — — — — — 122,020 Intersegment revenue 7,246 65 — — — — (7,311) — Education technology services and payments revenue — 109,858 — — — — — 109,858 Solar construction revenue — — — — — 4,735 — 4,735 Other, net 605 — 1,319 620 5,967 (17,677) — (9,167) Loss on sale of loans — — (5,461) — — — — (5,461) Impairment expense and provision for beneficial interests — — — — — — — — Derivative settlements, net — — (18) 83 — — — 65 Derivative market value adjustments, net — — 897 1,108 — — — 2,005 Total other income (expense), net 129,871 109,923 (3,263) 1,811 5,967 (12,942) (7,311) 224,055 Cost of services: Cost to provide education technology services and payments — 40,407 — — — — — 40,407 Cost to provide solar construction services — — — — — 9,122 — 9,122 Total cost of services — 40,407 — — — 9,122 — 49,529 Operating expenses: Salaries and benefits 76,141 38,351 1,096 2,297 210 26,756 (145) 144,706 Depreciation and amortization 4,863 2,815 — 51 — 10,923 — 18,652 Other expenses 13,818 9,692 4,115 1,624 4,134 12,613 — 45,997 Intersegment expenses, net 19,079 5,884 8,145 92 127 (26,161) (7,166) — Total operating expenses 113,901 56,742 13,356 4,064 4,471 24,131 (7,311) 209,355 Income (loss) before income taxes 17,028 18,042 17,704 1,744 16,925 (44,011) — 27,430 Income tax (expense) benefit (4,086) (4,327) (4,249) (396) (4,031) 6,902 — (10,187) Net income (loss) 12,942 13,715 13,455 1,348 12,894 (37,109) — 17,243 Net loss (income) attributable to noncontrolling interests — (19) — — (128) 10,330 — 10,183 Net income (loss) attributable to Nelnet, Inc. $ 12,942 13,696 13,455 1,348 12,766 (26,779) — 27,426 Total assets as of June 30, 2023 $ 173,926 482,922 14,667,357 1,005,043 1,099,212 970,987 (613,757) 17,785,690 Six months ended June 30, 2024 Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Eliminations Total Interest income: Loan interest $ — — 403,335 15,518 — — — 418,853 Investment interest 3,152 13,580 35,544 20,779 31,495 6,461 (18,197) 92,814 Total interest income 3,152 13,580 438,879 36,297 31,495 6,461 (18,197) 511,667 Interest expense — — 362,537 20,266 5,024 1,409 (18,197) 371,039 Net interest income 3,152 13,580 76,342 16,031 26,471 5,052 — 140,628 Less provision (negative provision) for loan losses — — 2,230 12,210 — — — 14,440 Net interest income after provision for loan losses 3,152 13,580 74,112 3,821 26,471 5,052 — 126,188 Other income (expense): Loan servicing and systems revenue 236,252 — — — — — — 236,252 Intersegment revenue 12,991 106 — — — — (13,097) — Education technology services and payments revenue — 260,449 — — — — — 260,449 Solar construction revenue — — — — — 23,420 — 23,420 Other, net 1,395 — 6,321 1,150 28,644 8,224 — 45,734 Loss on sale of loans — — (1,579) — — — — (1,579) Impairment expense and provision for beneficial interests — — (5,911) — — (1,902) — (7,813) Derivative settlements, net — — 2,997 409 — — — 3,406 Derivative market value adjustments, net — — 6,642 2,855 — — — 9,497 Total other income (expense), net 250,638 260,555 8,470 4,414 28,644 29,742 (13,097) 569,366 Cost of services: Cost to provide education technology services and payments — 88,832 — — — — — 88,832 Cost to provide solar construction services — — — — — 22,300 — 22,300 Total cost of services — 88,832 — — — 22,300 — 111,132 Operating expenses: Salaries and benefits 147,353 80,903 2,308 5,518 732 48,307 (1,611) 283,509 Depreciation and amortization 10,450 5,395 — 601 — 15,464 — 31,911 Other expenses 40,198 16,158 7,210 3,194 23,632 26,243 — 116,637 Intersegment expenses, net 37,555 9,612 15,009 1,493 465 (52,648) (11,486) — Total operating expenses 235,556 112,068 24,527 10,806 24,829 37,366 (13,097) 432,057 Income (loss) before income taxes 18,234 73,235 58,055 (2,571) 30,286 (24,872) — 152,365 Income tax (expense) benefit (4,376) (17,585) (13,933) 657 (7,209) 4,511 — (37,936) Net income (loss) 13,858 55,650 44,122 (1,914) 23,077 (20,361) — 114,429 Net loss (income) attributable to noncontrolling interests — 46 — — (249) 4,272 — 4,069 Net income (loss) attributable to Nelnet, Inc. $ 13,858 55,696 44,122 (1,914) 22,828 (16,089) — 118,498 Total assets as of June 30, 2024 $ 264,381 478,077 11,315,210 1,185,302 1,038,068 778,549 (558,394) 14,501,193 Six months ended June 30, 2023 Nelnet Financial Services Loan Servicing and Systems Education Technology Services and Payments Asset Nelnet Bank NFS Other Operating Segments Corporate and Other Activities Eliminations Total Interest income: Loan interest $ — — 458,818 9,471 — — — 468,288 Investment interest 2,095 11,304 29,664 16,449 41,460 5,594 (24,860) 81,707 Total interest income 2,095 11,304 488,482 25,920 41,460 5,594 (24,860) 549,995 Interest expense — — 421,511 15,385 19,198 1,362 (24,860) 432,597 Net interest income 2,095 11,304 66,971 10,535 22,262 4,232 — 117,398 Less provision (negative provision) for loan losses — — (3,119) 3,910 — — — 791 Net interest income after provision for loan losses 2,095 11,304 70,090 6,625 22,262 4,232 — 116,607 Other income (expense): Loan servicing and systems revenue 261,247 — — — — — — 261,247 Intersegment revenue 15,036 121 — — — — (15,157) — Education technology services and payments revenue — 243,462 — — — — — 243,462 Solar construction revenue — — — — — 13,386 — 13,386 Other, net 1,213 — 4,164 830 5,226 (35,667) — (24,235) Loss on sale of loans — — (15,753) — — — — (15,753) Impairment expense and provision for beneficial interests — — — — — — — — Derivative settlements, net — — 23,319 83 — — — 23,402 Derivative market value adjustments, net — — (36,515) 1,108 — — — (35,407) Total other income (expense), net 277,496 243,583 (24,785) 2,021 5,226 (22,281) (15,157) 466,102 Cost of services: Cost to provide education technology services and payments — 88,110 — — — — — 88,110 Cost to provide solar construction services — — — — — 17,422 — 17,422 Total cost of services — 88,110 — — — 17,422 — 105,532 Operating expenses: Salaries and benefits 160,701 76,264 1,851 4,361 429 53,955 (145) 297,416 Depreciation and amortization 9,377 5,393 — 56 — 20,454 — 35,279 Other expenses 27,131 17,755 9,131 2,406 4,701 25,657 — 86,781 Intersegment expenses, net 40,136 11,684 16,841 173 256 (54,078) (15,012) — Total operating expenses 237,345 111,096 27,823 6,996 5,386 45,988 (15,157) 419,476 Income (loss) before income taxes 42,246 55,681 17,482 1,650 22,102 (81,459) — 57,701 Income tax (expense) benefit (10,139) (13,393) (4,196) (362) (5,240) 15,056 — (18,273) Net income (loss) 32,107 42,288 13,286 1,288 16,862 (66,403) — 39,428 Net loss (income) attributable to noncontrolling interests — 119 — — (269) 14,107 — 13,957 Net income (loss) attributable to Nelnet, Inc. $ 32,107 42,407 13,286 1,288 16,593 (52,296) — 53,385 Total assets as of June 30, 2023 $ 173,926 482,922 14,667,357 1,005,043 1,099,212 970,987 (613,757) 17,785,690

Disaggregated Revenue (Tables)

Disaggregated Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables present disaggregated revenue by service offering or customer type for the Company's fee-based operating segments. Loan Servicing and Systems Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Government loan servicing $ 87,014 95,736 192,490 204,618 Private education and consumer loan servicing 12,959 12,063 25,577 24,225 FFELP loan servicing 3,245 3,554 6,624 6,921 Software services 4,879 5,962 9,420 15,660 Outsourced services 955 4,705 2,141 9,823 Loan servicing and systems revenue $ 109,052 122,020 236,252 261,247 Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Tuition payment plan services $ 34,164 30,825 73,043 65,012 Payment processing 34,326 31,827 82,113 75,868 Education technology services 47,205 46,216 103,227 101,004 Other 1,214 990 2,066 1,578 Education technology services and payments revenue $ 116,909 109,858 260,449 243,462 Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Commercial revenue $ 8,777 2,329 20,355 8,205 Residential revenue (a) 917 2,406 3,065 5,181 Solar construction revenue $ 9,694 4,735 23,420 13,386 (a) On April 12, 2024, the Company announced a change in its solar engineering, procurement, and construction operations to focus exclusively on the commercial solar market and will discontinue its residential solar operations. As a result, residential revenue will continue to decline from recent historical amounts as existing customer contracts are completed.
Schedule of Components of Other Income (Expenses)	The following table presents the components of "other, net" in "other income (expense)" on the consolidated statements of income: Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Reinsurance premiums $ 14,851 3,816 27,631 4,351 ALLO preferred return 4,160 2,274 6,569 4,523 Borrower late fee income 2,584 2,168 5,718 4,414 Investment advisory services (WRCM) 1,524 1,639 3,033 3,251 Administration/sponsor fee income 1,482 1,697 3,028 3,468 Investment activity, net 217 (3,574) (1,082) (7,154) Loss from ALLO voting membership interest investment — (12,169) (10,693) (32,382) (Loss) gain from solar investments, net (2,610) (10,086) 170 (13,030) Other 6,663 5,068 11,360 8,324 Other, net $ 28,871 (9,167) 45,734 (24,235)

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present the Company’s financial assets and liabilities that are measured at fair value on a recurring basis. As of June 30, 2024 As of December 31, 2023 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Investments: Asset-backed debt securities - available-for-sale $ 100 939,429 939,529 99 955,804 955,903 Equity securities 187 — 187 73 — 73 Equity securities measured at net asset value (a) 59,434 50,834 Total investments 287 939,429 999,150 172 955,804 1,006,810 Derivative instruments — 2,112 2,112 — 452 452 Total assets $ 287 941,541 1,001,262 172 956,256 1,007,262 Liabilities: Derivative instruments $ — 780 780 — 1,976 1,976 Total liabilities $ — 780 780 — 1,976 1,976 (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.
Schedule of Fair Value, by Balance Sheet Grouping	The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets: As of June 30, 2024 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 10,902,478 10,320,047 — — 10,902,478 Accrued loan interest receivable 619,472 619,472 — 619,472 — Cash and cash equivalents 145,478 145,478 145,478 — — Investments (at fair value) 999,150 999,150 287 939,429 — Investments - held-to-maturity 234,263 228,883 — 234,263 — Notes receivable 28,565 28,565 — 28,565 — Beneficial interest in loan securitizations 261,850 243,969 — — 261,850 Restricted cash 538,446 538,446 538,446 — — Restricted cash – due to customers 259,479 259,479 259,479 — — Derivative instruments 2,112 2,112 — 2,112 — Financial liabilities: Bonds and notes payable 9,560,951 9,567,708 — 9,560,951 — Accrued interest payable 27,141 27,141 — 27,141 — Bank deposits 869,437 890,472 575,265 294,172 — Due to customers 388,876 388,876 388,876 — — Derivative instruments 780 780 — 780 — As of December 31, 2023 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 12,800,638 12,343,819 — — 12,800,638 Accrued loan interest receivable 764,385 764,385 — 764,385 — Cash and cash equivalents 168,112 168,112 168,112 — — Investments (at fair value) 1,006,810 1,006,810 172 955,804 — Investments - held-to-maturity 163,622 162,738 — 163,622 — Notes receivable 53,747 53,747 — 53,747 — Beneficial interest in loan securitizations 262,093 225,079 — — 262,093 Restricted cash 488,723 488,723 488,723 — — Restricted cash – due to customers 368,656 368,656 368,656 — — Derivative instruments 452 452 — 452 — Financial liabilities: Bonds and notes payable 11,629,359 11,828,393 — 11,629,359 — Accrued interest payable 35,391 35,391 — 35,391 — Bank deposits 722,973 743,599 467,420 255,553 — Due to customers 425,507 425,507 425,507 — — Derivative instruments 1,976 1,976 — 1,976 —

Reclassifications and Immater_2

Reclassifications and Immaterial Error Corrections - (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Reclassification adjustment	$ 28,871	$ (9,167)	$ 45,734	$ (24,235)
Pre-tax loss from equity investment	(1,416)	(10,183)	(4,069)	(13,957)
Net income attributable to Nelnet, Inc.	45,091	27,426	118,498	53,385
Net income (loss) attributable to parent	3,220,022	3,228,127	3,220,022	3,228,127	$ 3,235,720	$ 3,200,107	$ 3,205,794	$ 3,183,199
Loan Sales | Revision of Prior Period, Reclassification, Adjustment
Variable Interest Entity [Line Items]
Reclassification adjustment		21,000		43,100
Solar
Variable Interest Entity [Line Items]
Pre-tax loss from equity investment	8	(8,430)	(1,633)	(11,428)
Net income attributable to Nelnet, Inc.	$ (2,618)	(1,656)	$ 1,803	(1,602)
Solar | Revision of Prior Period, Reclassification, Adjustment
Variable Interest Entity [Line Items]
Reclassification adjustment		(2,200)		(3,200)
Pre-tax loss from equity investment		1,000		1,300
Net income attributable to Nelnet, Inc.		$ (800)		$ (1,400)
Net income (loss) attributable to parent						$ (21,800)		$ 16,700

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, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 619,472		$ 764,385
Loan discount, net of unamortized premiums and deferred origination costs	(36,157)		(33,872)
Allowance for loan losses	(96,764)	$ (106,008)	(104,643)	$ (114,263)	$ (134,704)	$ (131,827)
Financing receivable, after allowance for credit loss	10,939,519		13,108,204
Non-Nelnet Bank loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	9,910,617		12,049,462
Allowance for loan losses	(81,380)		(95,945)
Federally insured loans - Non-Nelnet Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	9,483,733		11,686,207	12,819,742
Accrued interest receivable	612,374		757,713	810,489
Allowance for loan losses	(54,180)	(61,723)	(68,453)	(74,061)	(79,331)	(83,593)
Financing receivable, after allowance for credit loss	10,017,705		12,346,504	13,522,406
Federally insured loans - Non-Nelnet Bank | Stafford and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	2,308,561		2,936,174
Federally insured loans - Non-Nelnet Bank | Consolidation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	7,175,172		8,750,033
Private education loans - Non-Nelnet Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	247,437		277,320	230,056
Accrued interest receivable	2,407		2,653	2,196
Allowance for loan losses	(13,065)	(14,736)	(15,750)	(14,322)	(15,175)	(15,411)
Financing receivable, after allowance for credit loss	229,585		256,186	218,113
Consumer loans and other loans - Non-Nelnet Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	179,447		85,935	189,327
Accrued interest receivable	763		861	2,246
Allowance for loan losses	(14,135)	(18,761)	(11,742)	(20,005)	(35,317)	(30,263)
Financing receivable, after allowance for credit loss	156,870		72,580	172,318
Nelnet Bank loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	542,351		432,872
Allowance for loan losses	(15,384)		(8,698)
Private education loans - Nelnet Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	354,412		360,520	352,319
Accrued interest receivable	2,709		2,023	1,591
Allowance for loan losses	(3,559)	(3,660)	(3,347)	(2,905)	(2,894)	(2,390)
Financing receivable, after allowance for credit loss	359,063		364,804	356,371
Consumer and other loans - Nelnet Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	187,939		72,352	30,668
Accrued interest receivable	1,219		575	214
Allowance for loan losses	(11,825)	$ (7,128)	(5,351)	(2,816)	$ (1,827)	$ 0
Financing receivable, after allowance for credit loss	$ 176,296		$ 67,570	$ 28,066

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, 2024	Dec. 31, 2023
Federally insured loans - Non-Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Allowance for loan losses as a percentage of the ending balance	0.57%	0.59%
Allowance for loan losses as a percentage of the risk sharing component, not covered by the federal guaranty	20.90%	21.80%
Private education loans - Non-Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Allowance for loan losses as a percentage of the ending balance	5.28%	5.68%
Consumer loans and other loans - Non-Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Allowance for loan losses as a percentage of the ending balance	7.88%	13.66%
Private education loans - Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Allowance for loan losses as a percentage of the ending balance	1%	0.93%
Consumer and other loans - Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Allowance for loan losses as a percentage of the ending balance	6.29%	7.40%

Loans and Accrued Interest Re_5

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans sold	$ 133,800	$ 158,300	$ 333,900	$ 420,200
Loss on sale of loan	(1,438)	$ (5,461)	(1,579)	$ (15,753)
Consumer Portfolio Segment, Unfunded Private Education Loan Commitments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Liability related to unfunded education loan commitments	119		119		$ 158
Unfunded private education loan commitments	$ 11,500		$ 11,500		$ 12,300

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 106,008	$ 134,704	$ 104,643	$ 131,827
Provision (negative provision) for loan losses	3,549	(11,371)	14,478	814
Charge-offs	(13,331)	(9,727)	(23,569)	(19,419)
Recoveries	538	657	1,212	1,041
Balance at end of period	96,764	114,263	96,764	114,263
Provision (negative provision) for loan losses	3,549	(11,371)	14,478	814
Federally insured loans - Non-Nelnet Bank
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	61,723	79,331	68,453	83,593
Provision (negative provision) for loan losses	(1,970)	0	(3,840)	2,411
Charge-offs	(5,573)	(5,270)	(10,433)	(11,943)
Recoveries	0	0	0	0
Balance at end of period	54,180	74,061	54,180	74,061
Provision (negative provision) for loan losses	(1,970)	0	(3,840)	2,411
Private education loans - Non-Nelnet Bank
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	14,736	15,175	15,750	15,411
Provision (negative provision) for loan losses	0	0	(265)	240
Charge-offs	(1,827)	(1,069)	(2,840)	(1,709)
Recoveries	156	216	420	380
Balance at end of period	13,065	14,322	13,065	14,322
Provision (negative provision) for loan losses	0	0	(265)	240
Consumer loans and other loans - Non-Nelnet Bank
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	18,761	35,317	11,742	30,263
Provision (negative provision) for loan losses	(2,255)	(12,873)	6,335	(5,770)
Charge-offs	(2,634)	(2,880)	(4,586)	(5,149)
Recoveries	263	441	644	661
Balance at end of period	14,135	20,005	14,135	20,005
Provision for current period	10,340	8,098	19,030	37,307
Loan sale reduction to provision	(12,595)	(20,971)	(12,695)	(43,077)
Provision (negative provision) for loan losses	(2,255)	(12,873)	6,335	(5,770)
Private education loans - Nelnet Bank
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	3,660	2,894	3,347	2,390
Provision (negative provision) for loan losses	255	517	1,012	1,129
Charge-offs	(460)	(506)	(906)	(614)
Recoveries	104	0	106	0
Balance at end of period	3,559	2,905	3,559	2,905
Provision (negative provision) for loan losses	255	517	1,012	1,129
Consumer and other loans - Nelnet Bank
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	7,128	1,827	5,351	0
Provision (negative provision) for loan losses	7,519	989	11,236	2,816
Charge-offs	(2,837)	0	(4,804)	0
Recoveries	15	0	42	0
Balance at end of period	11,825	2,816	11,825	2,816
Provision (negative provision) for loan losses	$ 7,519	989	$ 11,236	2,816
Federally insured loans - Nelnet Bank:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period		160		170
Provision (negative provision) for loan losses		(4)		(12)
Charge-offs		(2)		(4)
Recoveries		0		0
Balance at end of period		154		154
Provision (negative provision) for loan losses		$ (4)		$ (12)

Loans and Accrued Interest Re_7

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Net Charge-offs as a Percentage of Average Loans (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Federally insured loans - Non-Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	0.22%	0.16%	0.19%	0.18%
Private education loans - Non-Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	2.64%	1.45%	1.85%	1.11%
Consumer loans and other loans - Non-Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	4.62%	4.07%	4.98%	3.22%
Federally insured loans - Nelnet Bank:
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	0%	0.01%	0%	0.01%
Private education loans - Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	0.40%	0.57%	0.44%	0.35%
Consumer and other loans - Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	7.44%	0%	7.66%	0%

Loans and Accrued Interest Re_8

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Unfunded Loan Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Receivables [Abstract]
Provision for loan losses from allowance activity table above	$ 3,549	$ (11,371)	$ 14,478	$ 814
Provision (negative provision) for unfunded loan commitments	62	(9)	(38)	(23)
Provision (negative provision) for loan losses reported in consolidated statements of income	$ 3,611	$ (11,380)	$ 14,440	$ 791

Loans and Accrued Interest Re_9

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Loan Status and Delinquencies (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Loans in repayment status:
Accrued interest receivable	$ 619,472		$ 764,385
Allowance for loan losses	(96,764)	$ (106,008)	(104,643)	$ (114,263)	$ (134,704)	$ (131,827)
Financing receivable, after allowance for credit loss	10,939,519		13,108,204
Federally insured loans - Non-Nelnet Bank
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 440,891		$ 522,304	$ 612,357
Loans in-school/grace/deferment, percent	4.60%		4.50%	4.80%
Loans in forbearance	$ 702,539		$ 979,588	$ 930,629
Loans in forbearance, percent	7.40%		8.40%	7.30%
Loans in repayment status:
Loans receivable, gross	$ 9,483,733		$ 11,686,207	$ 12,819,742
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 8,340,303		$ 10,184,315	$ 11,276,756
Loans in repayment, percent	88%		87.10%	87.90%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 612,374		$ 757,713	$ 810,489
Loan premium (discount)	(24,222)		(28,963)	(33,764)
Allowance for loan losses	(54,180)	(61,723)	(68,453)	(74,061)	(79,331)	(83,593)
Financing receivable, after allowance for credit loss	10,017,705		12,346,504	13,522,406
Federally insured loans - Non-Nelnet Bank | Loans current
Loans in repayment status:
Loans receivable, gross	$ 7,012,655		$ 8,416,624	$ 9,609,634
Loans current, percentage	84.10%		82.60%	85.20%
Federally insured loans - Non-Nelnet Bank | Loans delinquent 31-60 days
Loans in repayment status:
Loans receivable, gross	$ 339,262		$ 377,108	$ 496,953
Loans past due, percentage	4.10%		3.70%	4.40%
Federally insured loans - Non-Nelnet Bank | Loans delinquent 61-90 days
Loans in repayment status:
Loans receivable, gross	$ 234,746		$ 254,553	$ 360,728
Loans past due, percentage	2.80%		2.50%	3.20%
Federally insured loans - Non-Nelnet Bank | Loans delinquent 91-120 days
Loans in repayment status:
Loans receivable, gross	$ 151,447		$ 187,145	$ 157,685
Loans past due, percentage	1.80%		1.90%	1.40%
Federally insured loans - Non-Nelnet Bank | Loans delinquent 121-270 days
Loans in repayment status:
Loans receivable, gross	$ 377,660		$ 685,829	$ 457,100
Loans past due, percentage	4.50%		6.70%	4.10%
Federally insured loans - Non-Nelnet Bank | Loans delinquent 271 days or greater
Loans in repayment status:
Loans receivable, gross	$ 224,533		$ 263,056	$ 194,656
Loans past due, percentage	2.70%		2.60%	1.70%
Private education loans - Non-Nelnet Bank
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 7,906		$ 9,475	$ 10,440
Loans in-school/grace/deferment, percent	3.20%		3.40%	4.60%
Loans in forbearance	$ 2,248		$ 2,529	$ 1,874
Loans in forbearance, percent	0.90%		0.90%	0.80%
Loans in repayment status:
Loans receivable, gross	$ 247,437		$ 277,320	$ 230,056
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 237,283		$ 265,316	$ 217,742
Loans in repayment, percent	95.90%		95.70%	94.60%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 2,407		$ 2,653	$ 2,196
Loan premium (discount)	(7,194)		(8,037)	183
Allowance for loan losses	(13,065)	(14,736)	(15,750)	(14,322)	(15,175)	(15,411)
Financing receivable, after allowance for credit loss	229,585		256,186	218,113
Private education loans - Non-Nelnet Bank | Loans current
Loans in repayment status:
Loans receivable, gross	$ 230,512		$ 257,639	$ 212,522
Loans current, percentage	97.10%		97.10%	97.60%
Private education loans - Non-Nelnet Bank | Loans delinquent 31-60 days
Loans in repayment status:
Loans receivable, gross	$ 2,814		$ 3,395	$ 1,643
Loans past due, percentage	1.20%		1.30%	0.70%
Private education loans - Non-Nelnet Bank | Loans delinquent 61-90 days
Loans in repayment status:
Loans receivable, gross	$ 1,395		$ 1,855	$ 1,253
Loans past due, percentage	0.60%		0.70%	0.60%
Private education loans - Non-Nelnet Bank | Loans delinquent 91 days or greater
Loans in repayment status:
Loans receivable, gross	$ 2,562		$ 2,427	$ 2,324
Loans past due, percentage	1.10%		0.90%	1.10%
Consumer loans and other loans - Non-Nelnet Bank
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 122		$ 146	$ 102
Loans in-school/grace/deferment, percent	0.10%		0.20%	0.10%
Loans in repayment status:
Loans receivable, gross	$ 179,447		$ 85,935	$ 189,327
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 179,325		$ 85,789	$ 189,225
Loans in repayment, percent	99.90%		99.80%	99.90%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 763		$ 861	$ 2,246
Loan premium (discount)	(9,205)		(2,474)	750
Allowance for loan losses	(14,135)	(18,761)	(11,742)	(20,005)	(35,317)	(30,263)
Financing receivable, after allowance for credit loss	156,870		72,580	172,318
Consumer loans and other loans - Non-Nelnet Bank | Loans current
Loans in repayment status:
Loans receivable, gross	$ 174,295		$ 81,195	$ 181,864
Loans current, percentage	97.20%		94.60%	96.10%
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 31-60 days
Loans in repayment status:
Loans receivable, gross	$ 2,100		$ 2,035	$ 2,794
Loans past due, percentage	1.20%		2.40%	1.50%
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 61-90 days
Loans in repayment status:
Loans receivable, gross	$ 1,857		$ 1,189	$ 2,533
Loans past due, percentage	1%		1.40%	1.30%
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 91 days or greater
Loans in repayment status:
Loans receivable, gross	$ 1,073		$ 1,370	$ 2,034
Loans past due, percentage	0.60%		1.60%	1.10%
Private education loans - Nelnet Bank
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 41,394		$ 25,957	$ 16,996
Loans in-school/grace/deferment, percent	11.70%		7.20%	4.80%
Loans in forbearance	$ 1,985		$ 1,285	$ 1,797
Loans in forbearance, percent	0.60%		0.40%	0.50%
Loans in repayment status:
Loans receivable, gross	$ 354,412		$ 360,520	$ 352,319
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 311,033		$ 333,278	$ 333,526
Loans in repayment, percent	87.70%		92.40%	94.70%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 2,709		$ 2,023	$ 1,591
Loan premium (discount)	5,501		5,608	5,366
Allowance for loan losses	(3,559)	(3,660)	(3,347)	(2,905)	(2,894)	(2,390)
Financing receivable, after allowance for credit loss	359,063		364,804	356,371
Private education loans - Nelnet Bank | Loans current
Loans in repayment status:
Loans receivable, gross	$ 308,591		$ 331,580	$ 332,205
Loans current, percentage	99.20%		99.40%	99.60%
Private education loans - Nelnet Bank | Loans delinquent 30-59 days
Loans in repayment status:
Loans receivable, gross	$ 934		$ 839	$ 691
Loans past due, percentage	0.30%		0.30%	0.20%
Private education loans - Nelnet Bank | Loans delinquent 60-89 days
Loans in repayment status:
Loans receivable, gross	$ 444		$ 253	$ 241
Loans past due, percentage	0.20%		0.10%	0.10%
Private education loans - Nelnet Bank | Loans delinquent 90 days or greater
Loans in repayment status:
Loans receivable, gross	$ 1,064		$ 606	$ 389
Loans past due, percentage	0.30%		0.20%	0.10%
Consumer and other loans - Nelnet Bank
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 1,414		$ 103	$ 6
Loans in-school/grace/deferment, percent	0.80%		0.10%	0%
Loans in repayment status:
Loans receivable, gross	$ 187,939		$ 72,352	$ 30,668
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 186,525		$ 72,249	$ 30,662
Loans in repayment, percent	99.20%		99.90%	100%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 1,219		$ 575	$ 214
Loan premium (discount)	(1,037)		(6)	0
Allowance for loan losses	(11,825)	$ (7,128)	(5,351)	(2,816)	$ (1,827)	$ 0
Financing receivable, after allowance for credit loss	176,296		67,570	28,066
Consumer and other loans - Nelnet Bank | Loans current
Loans in repayment status:
Loans receivable, gross	$ 181,558		$ 69,584	$ 30,120
Loans current, percentage	97.30%		96.30%	98.20%
Consumer and other loans - Nelnet Bank | Loans delinquent 30-59 days
Loans in repayment status:
Loans receivable, gross	$ 1,516		$ 1,075	$ 277
Loans past due, percentage	0.80%		1.50%	0.90%
Consumer and other loans - Nelnet Bank | Loans delinquent 60-89 days
Loans in repayment status:
Loans receivable, gross	$ 1,814		$ 941	$ 205
Loans past due, percentage	1%		1.30%	0.70%
Consumer and other loans - Nelnet Bank | Loans delinquent 90 days or greater
Loans in repayment status:
Loans receivable, gross	$ 1,637		$ 649	$ 60
Loans past due, percentage	0.90%		0.90%	0.20%

Loans and Accrued Interest R_10

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Nelnet Bank's Private Education Loans by FICO Score at Origination (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Private education loans - Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	$ 7,780	$ 46,907
Fiscal year before current fiscal year	53,011	190,466
Fiscal year two years before current fiscal year	179,601	114,278
Fiscal year three years before current fiscal year	105,728	8,869
Fiscal year four years before current fiscal year	8,292
Fiscal year five years before current fiscal year	0
Total loans	354,412	360,520	$ 352,319
Private education loans - Nelnet Bank | Less than 705
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	451	3,840
Fiscal year before current fiscal year	3,957	5,495
Fiscal year two years before current fiscal year	5,200	4,647
Fiscal year three years before current fiscal year	4,413	386
Fiscal year four years before current fiscal year	374
Total loans	14,395	14,368
Private education loans - Nelnet Bank | 705 - 734
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	950	9,534
Fiscal year before current fiscal year	9,658	21,961
Fiscal year two years before current fiscal year	20,984	8,805
Fiscal year three years before current fiscal year	8,167	525
Fiscal year four years before current fiscal year	513
Total loans	40,272	40,825
Private education loans - Nelnet Bank | 735 - 764
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	1,149	8,648
Fiscal year before current fiscal year	9,307	32,969
Fiscal year two years before current fiscal year	31,511	14,910
Fiscal year three years before current fiscal year	13,673	1,358
Fiscal year four years before current fiscal year	1,318
Total loans	56,958	57,885
Private education loans - Nelnet Bank | 765 - 794
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	860	5,776
Fiscal year before current fiscal year	6,543	52,045
Fiscal year two years before current fiscal year	49,268	27,221
Fiscal year three years before current fiscal year	25,720	1,374
Fiscal year four years before current fiscal year	1,286
Total loans	83,677	86,416
Private education loans - Nelnet Bank | Greater than 794
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	1,760	15,057
Fiscal year before current fiscal year	17,464	77,996
Fiscal year two years before current fiscal year	72,638	58,695
Fiscal year three years before current fiscal year	53,755	5,226
Fiscal year four years before current fiscal year	4,801
Total loans	150,418	156,974
Private education loans - Nelnet Bank | No FICO score available or required
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	2,610	4,052
Fiscal year before current fiscal year	6,082	0
Fiscal year two years before current fiscal year	0	0
Fiscal year three years before current fiscal year	0	0
Fiscal year four years before current fiscal year	0
Total loans	8,692	4,052
Consumer and other loans - Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	91,267	71,853
Fiscal year before current fiscal year	67,053	444
Fiscal year two years before current fiscal year	412	55
Fiscal year three years before current fiscal year	13,201	0
Fiscal year four years before current fiscal year	9,680
Fiscal year five years before current fiscal year	6,326	0
Total loans	187,939	72,352	$ 30,668
Consumer and other loans - Nelnet Bank | Less than 720
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	13,041	21,412
Fiscal year before current fiscal year	17,016	0
Fiscal year two years before current fiscal year	0	0
Fiscal year three years before current fiscal year	1,360	0
Fiscal year four years before current fiscal year	1,625
Fiscal year five years before current fiscal year	1,800	0
Total loans	34,842	21,412
Consumer and other loans - Nelnet Bank | 720 - 769
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	41,116	33,571
Fiscal year before current fiscal year	30,354	51
Fiscal year two years before current fiscal year	25	0
Fiscal year three years before current fiscal year	6,888	0
Fiscal year four years before current fiscal year	5,793
Fiscal year five years before current fiscal year	3,464	0
Total loans	87,640	33,622
Consumer and other loans - Nelnet Bank | Greater than 769
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	35,957	16,484
Fiscal year before current fiscal year	19,243	109
Fiscal year two years before current fiscal year	106	0
Fiscal year three years before current fiscal year	4,899	0
Fiscal year four years before current fiscal year	2,262
Fiscal year five years before current fiscal year	1,062	0
Total loans	63,529	16,593
Consumer and other loans - Nelnet Bank | No FICO score available or required
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	1,153	386
Fiscal year before current fiscal year	440	284
Fiscal year two years before current fiscal year	281	55
Fiscal year three years before current fiscal year	54	0
Fiscal year four years before current fiscal year	0
Fiscal year five years before current fiscal year	0	0
Total loans	$ 1,928	$ 725

Loans and Accrued Interest R_11

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Loans by Year of Origination (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Accrued interest receivable	$ 619,472		$ 764,385
Allowance for loan losses	(96,764)	$ (106,008)	(104,643)	$ (114,263)	$ (134,704)	$ (131,827)
Financing receivable, after allowance for credit loss	10,939,519		13,108,204
Private education loans - Non-Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	0
2023	207
2022	5,086
2021	8,666
2020	44,312
Prior years	189,166
Total loans	247,437		277,320	230,056
Accrued interest receivable	2,407		2,653	2,196
Loan discount and deferred lender fees, net of unamortized premiums	(7,194)		(8,037)	183
Allowance for loan losses	(13,065)	(14,736)	(15,750)	(14,322)	(15,175)	(15,411)
Financing receivable, after allowance for credit loss	229,585		256,186	218,113
Current period gross charge-offs, current fiscal year	0
Current period gross charge-offs, fiscal year before current fiscal year	0
Current period gross charge-offs, two years before current fiscal year	0
Current period gross charge-offs, three years before current fiscal year	76
Current period gross charge-offs, four years before current fiscal year	36
Current period gross charge-offs, more than five years before current fiscal year	2,728
Current period gross charge-offs, total	2,840
Private education loans - Non-Nelnet Bank | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	230,512		257,639	212,522
Private education loans - Non-Nelnet Bank | Loans delinquent 31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	2,814		3,395	1,643
Private education loans - Non-Nelnet Bank | Loans delinquent 61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,395		1,855	1,253
Private education loans - Non-Nelnet Bank | Loans delinquent 91 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	2,562		2,427	2,324
Private education loans - Non-Nelnet Bank | Loans in-school/grace/deferment
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	0
2023	0
2022	657
2021	3,325
2020	713
Prior years	3,211
Total loans	7,906
Private education loans - Non-Nelnet Bank | Loans in forbearance
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	0
2023	0
2022	356
2021	140
2020	429
Prior years	1,323
Total loans	2,248
Private education loans - Non-Nelnet Bank | Loans in repayment status:
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	0
2023	207
2022	4,073
2021	5,201
2020	43,170
Prior years	184,632
Total loans	237,283
Private education loans - Non-Nelnet Bank | Loans in repayment status: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	0
2023	207
2022	4,053
2021	5,141
2020	42,508
Prior years	178,603
Total loans	230,512
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, 2024	0
2023	0
2022	13
2021	45
2020	380
Prior years	2,376
Total loans	2,814
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, 2024	0
2023	0
2022	7
2021	8
2020	167
Prior years	1,213
Total loans	1,395
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, 2024	0
2023	0
2022	0
2021	7
2020	115
Prior years	2,440
Total loans	2,562
Consumer loans and other loans - Non-Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	131,982
2023	41,511
2022	4,882
2021	651
2020	307
Prior years	114
Total loans	179,447		85,935	189,327
Accrued interest receivable	763		861	2,246
Loan discount and deferred lender fees, net of unamortized premiums	(9,205)		(2,474)	750
Allowance for loan losses	(14,135)	(18,761)	(11,742)	(20,005)	(35,317)	(30,263)
Financing receivable, after allowance for credit loss	156,870		72,580	172,318
Current period gross charge-offs, current fiscal year	0
Current period gross charge-offs, fiscal year before current fiscal year	2,611
Current period gross charge-offs, two years before current fiscal year	1,678
Current period gross charge-offs, three years before current fiscal year	213
Current period gross charge-offs, four years before current fiscal year	23
Current period gross charge-offs, more than five years before current fiscal year	61
Current period gross charge-offs, total	4,586
Consumer loans and other loans - Non-Nelnet Bank | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	174,295		81,195	181,864
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	2,100		2,035	2,794
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,857		1,189	2,533
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 91 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,073		1,370	2,034
Consumer loans and other loans - Non-Nelnet Bank | Loans in-school/grace/deferment
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	0
2023	122
2022	0
2021	0
2020	0
Prior years	0
Total loans	122
Consumer loans and other loans - Non-Nelnet Bank | Loans in repayment status:
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	131,982
2023	41,389
2022	4,882
2021	651
2020	307
Prior years	114
Total loans	179,325
Consumer loans and other loans - Non-Nelnet Bank | Loans in repayment status: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	131,766
2023	37,985
2022	3,624
2021	526
2020	283
Prior years	111
Total loans	174,295
Consumer loans 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, 2024	160
2023	1,394
2022	433
2021	103
2020	7
Prior years	3
Total loans	2,100
Consumer loans 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, 2024	42
2023	1,158
2022	649
2021	8
2020	0
Prior years	0
Total loans	1,857
Consumer loans 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, 2024	14
2023	852
2022	176
2021	14
2020	17
Prior years	0
Total loans	1,073
Private education loans - Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	7,780		46,907
2023	53,011		190,466
2022	179,601		114,278
2021	105,728		8,869
2020	8,292
Prior years	0
Total loans	354,412		360,520	352,319
Accrued interest receivable	2,709		2,023	1,591
Loan discount and deferred lender fees, net of unamortized premiums	5,501		5,608	5,366
Deferred origination costs, net of unaccreted discount	5,501
Allowance for loan losses	(3,559)	(3,660)	(3,347)	(2,905)	(2,894)	(2,390)
Financing receivable, after allowance for credit loss	359,063		364,804	356,371
Current period gross charge-offs, current fiscal year	0
Current period gross charge-offs, fiscal year before current fiscal year	324
Current period gross charge-offs, two years before current fiscal year	348
Current period gross charge-offs, three years before current fiscal year	234
Current period gross charge-offs, four years before current fiscal year	0
Current period gross charge-offs, more than five years before current fiscal year	0
Current period gross charge-offs, total	906
Private education loans - Nelnet Bank | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	308,591		331,580	332,205
Private education loans - Nelnet Bank | Loans delinquent 30-59 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	934		839	691
Private education loans - Nelnet Bank | Loans delinquent 60-89 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	444		253	241
Private education loans - Nelnet Bank | Loans delinquent 90 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,064		606	389
Private education loans - Nelnet Bank | Loans in-school/grace/deferment
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	5,107
2023	25,688
2022	8,993
2021	674
2020	932
Prior years	0
Total loans	41,394
Private education loans - Nelnet Bank | Loans in forbearance
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	24
2023	149
2022	1,274
2021	430
2020	108
Prior years	0
Total loans	1,985
Private education loans - Nelnet Bank | Loans in repayment status:
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	2,649
2023	27,174
2022	169,334
2021	104,624
2020	7,252
Prior years	0
Total loans	311,033
Private education loans - Nelnet Bank | Loans in repayment status: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	2,629
2023	26,518
2022	168,736
2021	103,612
2020	7,096
Prior years	0
Total loans	308,591
Private education loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 30-59 days
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	17
2023	292
2022	96
2021	420
2020	109
Prior years	0
Total loans	934
Private education loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 60-89 days
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	3
2023	159
2022	217
2021	65
2020	0
Prior years	0
Total loans	444
Private education loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 90 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	0
2023	205
2022	285
2021	527
2020	47
Prior years	0
Total loans	1,064
Consumer and other loans - Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	91,267		71,853
2023	67,053		444
2022	412		55
2021	13,201		0
2020	9,680
Prior years	6,326		0
Total loans	187,939		72,352	30,668
Accrued interest receivable	1,219		575	214
Loan discount and deferred lender fees, net of unamortized premiums	(1,037)		(6)	0
Allowance for loan losses	(11,825)	$ (7,128)	(5,351)	(2,816)	$ (1,827)	$ 0
Financing receivable, after allowance for credit loss	176,296		67,570	28,066
Current period gross charge-offs, current fiscal year	73
Current period gross charge-offs, fiscal year before current fiscal year	4,724
Current period gross charge-offs, two years before current fiscal year	0
Current period gross charge-offs, three years before current fiscal year	0
Current period gross charge-offs, four years before current fiscal year	0
Current period gross charge-offs, more than five years before current fiscal year	7
Current period gross charge-offs, total	4,804
Consumer and other loans - Nelnet Bank | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	181,558		69,584	30,120
Consumer and other loans - Nelnet Bank | Loans delinquent 30-59 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,516		1,075	277
Consumer and other loans - Nelnet Bank | Loans delinquent 60-89 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,814		941	205
Consumer and other loans - Nelnet Bank | Loans delinquent 90 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,637		$ 649	$ 60
Consumer and other loans - Nelnet Bank | Loans in deferment
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	1,308
2023	106
2022	0
2021	0
2020	0
Prior years	0
Total loans	1,414
Consumer and other loans - Nelnet Bank | Loans in repayment status:
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	89,959
2023	66,947
2022	412
2021	13,201
2020	9,680
Prior years	6,326
Total loans	186,525
Consumer and other loans - Nelnet Bank | Loans in repayment status: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	89,467
2023	62,838
2022	412
2021	12,980
2020	9,656
Prior years	6,205
Total loans	181,558
Consumer and other loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 30-59 days
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	146
2023	1,247
2022	0
2021	57
2020	6
Prior years	60
Total loans	1,516
Consumer and other loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 60-89 days
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	223
2023	1,459
2022	0
2021	92
2020	0
Prior years	40
Total loans	1,814
Consumer and other loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 90 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Six months ended June 30, 2024	123
2023	1,403
2022	0
2021	72
2020	18
Prior years	21
Total loans	$ 1,637

Bonds and Notes Payable - Outst

Bonds and Notes Payable - Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 9,634,801	$ 11,918,158
Discount on bonds and notes payable and debt issuance costs	(67,093)	(89,765)
Bonds and notes payable, net	9,567,708	11,828,393
Unsecured line of credit
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 0	$ 0
Interest rate	0%	0%
Participation agreements
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 7,728	$ 10,063
Repurchase agreement
Debt Instrument [Line Items]
Bonds and notes payable, gross	111,189	208,164
Other - due to related party
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 4,856	5,778
Interest rate	5%
Federally insured | Bonds and notes based on indices
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 7,945,989	9,552,667
Federally insured | Bonds and notes based on auction
Debt Instrument [Line Items]
Bonds and notes payable, gross	75,735	87,360
Federally insured | Variable-rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	8,021,724	9,640,027
Federally insured | Fixed rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	389,462	471,427
Federally insured | Warehouse facilities
Debt Instrument [Line Items]
Bonds and notes payable, gross	964,196	1,398,485
Consumer Loan | Warehouse facilities
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 6,760	$ 23,691
Interest rate	5.54%	5.70%
Private education | Variable-rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 65,683	$ 80,393
Private education | Fixed rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 63,203	$ 80,130
Minimum | Participation agreements
Debt Instrument [Line Items]
Interest rate	5.58%	5.58%
Minimum | Repurchase agreement
Debt Instrument [Line Items]
Interest rate	6.44%	6.35%
Minimum | Other - due to related party
Debt Instrument [Line Items]
Interest rate		5%
Minimum | Federally insured | Bonds and notes based on indices
Debt Instrument [Line Items]
Interest rate	5.46%	5.45%
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 | Federally insured | Warehouse facilities
Debt Instrument [Line Items]
Interest rate	5.41%	5.41%
Minimum | Private education | Variable-rate bonds and notes
Debt Instrument [Line Items]
Interest rate	6.90%	6.90%
Minimum | Private education | Fixed rate bonds and notes
Debt Instrument [Line Items]
Interest rate	5.35%	5.35%
Maximum | Participation agreements
Debt Instrument [Line Items]
Interest rate	6.08%	6.08%
Maximum | Repurchase agreement
Debt Instrument [Line Items]
Interest rate	6.75%	6.81%
Maximum | Other - due to related party
Debt Instrument [Line Items]
Interest rate		6.05%
Maximum | Federally insured | Bonds and notes based on indices
Debt Instrument [Line Items]
Interest rate	7.46%	7.47%
Maximum | Federally insured | Bonds and notes based on auction
Debt Instrument [Line Items]
Interest rate	6.45%	6.45%
Maximum | Federally insured | Fixed rate bonds and notes
Debt Instrument [Line Items]
Interest rate	3.45%	3.45%
Maximum | Federally insured | Warehouse facilities
Debt Instrument [Line Items]
Interest rate	5.53%	5.70%
Maximum | Private education | Variable-rate bonds and notes
Debt Instrument [Line Items]
Interest rate	7.59%	7.57%
Maximum | Private education | Fixed rate bonds and notes
Debt Instrument [Line Items]
Interest rate	7.15%	7.15%

Bonds and Notes Payable - Out_2

Bonds and Notes Payable - Outstanding Lines of Credit (Details) - Secured Debt - Warehouse facilities - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jul. 15, 2024	May 17, 2024	May 16, 2024	Apr. 02, 2024	Apr. 01, 2024	Mar. 11, 2024	Mar. 10, 2024	Mar. 06, 2024	Mar. 05, 2024
FFELP Warehouse Facilities
Line of Credit Facility [Line Items]
Maximum financing amount	$ 1,250,000
Amount outstanding	964,196
Amount available	285,804
Advanced as equity support	72,041
FFELP Warehouse Facility Due July 2024
Line of Credit Facility [Line Items]
Maximum financing amount	875,000		$ 875,000
Amount outstanding	643,034
Amount available	231,966
Advanced as equity support	$ 45,502
FFELP Warehouse Facility Due November 2024
Line of Credit Facility [Line Items]
Maximum financing amount				$ 950,000					$ 950,000	$ 1,250,000
Advance rate, maximum, lower range	90%
Advance rate, maximum, higher range	96%
Advance rate, minimum, lower range	84%
Advance rate, minimum, higher range	90%
FFELP Warehouse Facility Due January 2025 | Subsequent Event
Line of Credit Facility [Line Items]
Maximum financing amount		$ 800,000
FFELP Warehouse Facility Due April 2025
Line of Credit Facility [Line Items]
Maximum financing amount	$ 375,000				$ 375,000	$ 432,000
Amount outstanding	321,162
Amount available	$ 53,838
Advance rate	92%
Advanced as equity support	$ 26,539
Consumer Loan Warehouse Facility
Line of Credit Facility [Line Items]
Maximum financing amount	150,000						$ 150,000	$ 200,000
Amount outstanding	6,760
Amount available	$ 143,240
Advance rate	70%
Advanced as equity support	$ 1,781

Bonds and Notes Payable - Narra

Bonds and Notes Payable - Narrative (Details) - USD ($)	1 Months Ended	6 Months Ended
	Apr. 30, 2023	Jun. 30, 2024
Debt Instrument [Line Items]
Repurchase agreements, amount collateralized by private education loan asset-backed securities		$ 111,200,000
Repurchase agreements, contractual maturity adjustment, written notice period		180 days
Par value of asset-based securities		$ 939,529,000
Asset-backed securities
Debt Instrument [Line Items]
Par value of asset-based securities		311,700,000
Unsecured Line of Credit | Line of Credit
Debt Instrument [Line Items]
Amount outstanding		0
Amount available		495,000,000
Unsecured Line of Credit | Unsecured Debt | Line of Credit
Debt Instrument [Line Items]
Maximum financing amount		$ 495,000,000
Federal Family Education Loan Program (FFELP) Loan Asset-Backed Securities | Secured Debt
Debt Instrument [Line Items]
Payments to extinguish debt	$ 188,600,000
Write off of unamortized debt discount	$ 25,900,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Outstanding Basis Swap (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
1:3 basis swaps
Derivative [Line Items]
Notional amount	$ 1,400,000,000	$ 3,150,000,000
2024
Derivative [Line Items]
Notional amount	0	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	3 Months Ended
	Mar. 31, 2023	Jun. 30, 2024	Dec. 31, 2023
1:3 basis swaps
Derivative [Line Items]
Weighted average rate		0.104%	0.101%
Interest rate swaps - Nelnet Bank | Interest rate swaps - floor income hedge
Derivative [Line Items]
Cash received or receivable from derivative	$ 183.2
Proceeds for settlement of terminated derivatives	19.1
Derivative, notional amount, terminated	$ 2,800

Derivative Financial Instrume_5

Derivative Financial Instruments - Interest Rate Swaps, Floor Income Hedge (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Interest rate swaps - floor income hedges
Derivative [Line Items]
Notional amount	$ 400,000,000	$ 400,000,000
Weighted average fixed rate paid by the Company	3.71%	3.71%
2026
Derivative [Line Items]
Notional amount	$ 200,000,000	$ 200,000,000
Weighted average fixed rate paid by the Company	3.92%	3.92%
2028
Derivative [Line Items]
Notional amount	$ 50,000,000	$ 50,000,000
Weighted average fixed rate paid by the Company	3.56%	3.56%
2029
Derivative [Line Items]
Notional amount	$ 50,000,000	$ 50,000,000
Weighted average fixed rate paid by the Company	3.17%	3.17%
2030
Derivative [Line Items]
Notional amount	$ 100,000,000	$ 100,000,000
Weighted average fixed rate paid by the Company	3.63%	3.63%
Interest Rate Swap, 2030 With November 2025 Effective Start Date
Derivative [Line Items]
Notional amount	$ 50,000,000	$ 50,000,000

Derivative Financial Instrume_6

Derivative Financial Instruments - Interest Rate Swaps (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Interest rate swaps - Nelnet Bank
Derivative [Line Items]
Notional amount		$ (140,000,000)
Weighted average fixed rate paid by the Company		3.46%
2028
Derivative [Line Items]
Notional amount		$ (40,000,000)
Weighted average fixed rate paid by the Company		3.33%
2030
Derivative [Line Items]
Notional amount		$ (50,000,000)
Weighted average fixed rate paid by the Company		3.06%
Interest Rate Swap, Nelnet Bank, 2030 With Forward Effective Date Of April 2026
Derivative [Line Items]
Notional amount	$ (25,000,000)	$ (25,000,000)
Interest Rate Swap, Nelnet Bank, 2030 With Forward Effective Date Of May 2026
Derivative [Line Items]
Notional amount	(25,000,000)	(25,000,000)
2032
Derivative [Line Items]
Notional amount	(25,000,000)	$ (25,000,000)
Weighted average fixed rate paid by the Company		4.03%
2033
Derivative [Line Items]
Notional amount	$ (25,000,000)	$ (25,000,000)
Weighted average fixed rate paid by the Company		3.90%

Derivative Financial Instrume_7

Derivative Financial Instruments - Fair Value of Asset and Liability Derivatives (Details) - Interest rate swaps - Nelnet Bank - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Fair value of asset derivatives	$ 2,112	$ 452
Fair value of liability derivatives	$ 780	$ 1,976

Derivative Financial Instrume_8

Derivative Financial Instruments - Derivative Impact on Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	$ 1,649	$ 65	$ 3,406	$ 23,402
Change in fair value	$ 1,533	2,005	9,497	(35,407)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Derivative market value adjustments and derivative settlements, net
Derivative market value adjustments and derivative settlements, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	$ 1,649	65	3,406	23,402
Derivative market value adjustments and derivative settlements, net - income (expense)	3,182	2,070	12,903	(12,005)
1:3 basis swaps
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(232)	235	(586)	211
1:3 basis swaps | Derivative market value adjustments and derivative settlements, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	249	(65)	614	794
Interest rate swaps - floor income hedges
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	1,168	662	7,228	(36,726)
Interest rate swaps - floor income hedges | Derivative market value adjustments and derivative settlements, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	1,193	47	2,383	22,525
Interest rate swaps - Nelnet Bank
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	597	1,108	2,855	1,108
Interest rate swaps - Nelnet Bank | Derivative market value adjustments and derivative settlements, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	$ 207	$ 83	$ 409	$ 83

Investments and Notes Receiva_3

Investments and Notes Receivable - Summary of Investments (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	May 22, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Apr. 01, 2024	Dec. 31, 2023
Investments (at fair value):
Amortized cost		$ 945,840		$ 945,840
Fair value		939,529		939,529
Equity securities		59,621		59,621			$ 50,907
Total investments at fair value		948,792		948,792			988,841
Held-to-maturity investments
Fair value		228,883		228,883			162,738
Beneficial interest in securitizations		243,969		243,969			225,079
Notes receivable		28,565		28,565			53,747
Other investments		947,641		947,641			857,866
Total investments and notes receivable		1,896,433		1,896,433			1,846,707
Private education loan asset-backed securities subject to repurchase agreements with third-parties, par value		148,100		148,100
Private education loan asset-backed securities subject to repurchase agreements with third-parties, fair value		130,700		130,700
Debt securities, held-to-maturity, transfer from available-for-sale	$ 70,600
Debt securities, held-to-maturity, excluding accrued interest, transfer from available-for-sale, unrealized gain	$ 3,400
ALLO preferred return		4,160	$ 2,274	6,569	$ 4,523
Investments - beneficial interest in consumer loan securitizations		5,911		5,911
Net loss attributable to noncontrolling interests		(1,416)	(10,183)	(4,069)	(13,957)
Net income attributable to Nelnet, Inc.		45,091	27,426	118,498	53,385
Asset-backed securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Restricted Investments
Investments (at fair value):
Amortized cost		47,968		47,968			16,993
Gross unrealized gains		2,473		2,473			1,069
Gross unrealized losses		(83)		(83)			(93)
Fair value		50,358		50,358			17,969
Asset-Backed Securities, Available-For-Sale, Non-Nelnet And Nelnet Bank
Investments (at fair value):
Amortized cost		897,872		897,872			965,885
Gross unrealized gains		17,959		17,959			11,528
Gross unrealized losses		(26,660)		(26,660)			(39,479)
Fair value		889,171		889,171			937,934
Asset-Backed Securities, Available-For-Sale, Non-Nelnet Bank
Investments (at fair value):
Amortized cost		512,139		512,139			594,963
Gross unrealized gains		8,952		8,952			6,903
Gross unrealized losses		(23,892)		(23,892)			(35,542)
Fair value		497,199		497,199			566,324
Asset-Backed Securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Non-Nelnet Bank
Investments (at fair value):
Amortized cost		220,076		220,076			271,479
Gross unrealized gains		6,910		6,910			4,883
Gross unrealized losses		(1,450)		(1,450)			(5,393)
Fair value		225,536		225,536			270,969
Asset-Backed Securities, Available-For-Sale, Private Education Loans, Non-Nelnet Bank
Investments (at fair value):
Amortized cost		258,390		258,390			281,791
Gross unrealized gains		0		0			0
Gross unrealized losses		(22,442)		(22,442)			(28,874)
Fair value		235,948		235,948			252,917
Asset-Backed Securities, Available-For-Sale, Other, Non-Nelnet Bank
Investments (at fair value):
Amortized cost		33,673		33,673			41,693
Gross unrealized gains		2,042		2,042			2,020
Gross unrealized losses		0		0			(1,275)
Fair value		35,715		35,715			42,438
Asset-Backed Securities, Available-For-Sale, Nelnet Bank
Investments (at fair value):
Amortized cost		385,733		385,733			370,922
Gross unrealized gains		9,007		9,007			4,625
Gross unrealized losses		(2,768)		(2,768)			(3,937)
Fair value		391,972		391,972			371,610
Asset-Backed Securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Nelnet Bank
Investments (at fair value):
Amortized cost		227,124		227,124			304,555
Gross unrealized gains		8,090		8,090			4,488
Gross unrealized losses		(1,350)		(1,350)			(2,286)
Fair value		233,864		233,864			306,757
Asset-Backed Securities, Available-For-Sale, Private Education Loans, Nelnet Bank
Investments (at fair value):
Amortized cost		0		0			17,083
Gross unrealized gains		0		0			20
Gross unrealized losses		0		0			(10)
Fair value		0		0			17,093
Asset-Backed Securities, Available-For-Sale, Other, Nelnet Bank
Investments (at fair value):
Amortized cost		158,609		158,609			49,284
Gross unrealized gains		917		917			117
Gross unrealized losses		(1,418)		(1,418)			(1,641)
Fair value		158,108		158,108			47,760
Debt Securities, Held-To-Maturity, Non-Nelnet Bank
Held-to-maturity investments
Fair value		3,500		3,500			4,700
Held-To-Maturity Investments, Nelnet Bank
Held-to-maturity investments
Fair value		225,383		225,383			158,038
Asset-Backed Securities, Held-To-Maturity, Federal Family Education Loan Program (FFELP) Loans, Nelnet Bank
Held-to-maturity investments
Fair value		217,283		217,283			149,938
Asset-Backed Securities, Held-To-Maturity, Private Education Loans, Nelnet Bank
Held-to-maturity investments
Fair value		8,100		8,100			8,100
Venture capital funds
Held-to-maturity investments
Measurement alternative		196,803		196,803			194,084
Equity method		114,800		114,800			91,464
Other investments		311,603		311,603			285,548
Real estate
Held-to-maturity investments
Equity method		125,989		125,989			103,811
Partnership Interest
Held-to-maturity investments
Equity method		0		0			10,693
Preferred membership interest and accrued and unpaid preferred return		176,092		176,092			155,047
Other investments		176,092		176,092			165,740
Equity securities, realized loss		0	12,200	10,700	32,400
Partnership Interest | ALLO
Held-to-maturity investments
Preferred membership interest and accrued and unpaid preferred return		169,500		169,500
Equity method investment, accrued and unpaid preferred return		6,600		6,600
Equity method investment, preferred annual, after increase value						$ 155,000
Equity method investment, preferred, additional amount purchased		14,500
Beneficial interest in consumer loan securitizations
Held-to-maturity investments
Beneficial interest in securitizations		163,853		163,853			134,113
Consumer loans, allowance for credit losses		5,911		5,911
Loans corresponding to beneficial interest		1,120,000		1,120,000
Beneficial interest in private education loan securitizations
Held-to-maturity investments
Beneficial interest in securitizations		59,326		59,326			68,372
Loans corresponding to beneficial interest		500,000		500,000
Beneficial interest in federally insured loan securitizations
Held-to-maturity investments
Beneficial interest in securitizations		20,790		20,790			22,594
Loans corresponding to beneficial interest		315,000		315,000
Solar
Held-to-maturity investments
Solar		(176,105)		(176,105)			(146,040)
Amount funded or committed to fund		502,800		502,800
Amount funded or committed to fund by partners		219,800		219,800
Tax credits		474,400		474,400
Tax Credits by partners		218,400		218,400
Carrying value		(176,100)		(176,100)
Noncontrolling interest balance		(84,000)		(84,000)
Pre-tax loss from equity investment		(2,610)	(10,086)	170	(13,030)
Net loss attributable to noncontrolling interests		8	(8,430)	(1,633)	(11,428)
Net income attributable to Nelnet, Inc.		(2,618)	(1,656)	1,803	(1,602)
Equity method investment, amount committed to fund		125,700		125,700
Equity method investment, amount committed to fund by partners		83,000		83,000
Tax liens, affordable housing, and other
Held-to-maturity investments
Other investments		$ 8,645		$ 8,645			$ 7,243
Preferred Partnership Interest
Held-to-maturity investments
Equity method investment, preferred annual return		6.25%		6.25%
Equity method investment, preferred annual, after increase		10%		10%
ALLO preferred return		$ 4,200	$ 2,300	$ 6,600	$ 4,500
Preferred Partnership Interest | ALLO
Held-to-maturity investments
Equity method investment, preferred annual return		20%		20%

Investments and Notes Receiva_4

Investments and Notes Receivable - Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Available-for-sale asset-backed securities
Amortized cost, 1 year or less	$ 53,474
Amortized cost, after 1 year through 5 years	67,896
Amortized cost, after 5 years through 10 years	62,163
Amortized cost, after 10 years	762,307
Amortized cost	945,840
Fair value
Fair value, 1 year or less	54,336
Fair value, after 1 year through 5 years	67,977
Fair value, after 5 years through 10 years	62,254
Fair value, after 10 years	754,962
Total	939,529
Held-to-maturity investments
Amortized cost, 1 year or less	3,500
Amortized cost, after 1 year through 5 years	3,041
Amortized cost, after 5 years through 10 years	1,278
Amortized cost, after 10 years	221,064
Total	228,883	$ 162,738
Fair value
Fair value, 1 year or less	3,500
Fair value, after 1 year through 5 years	3,129
Fair value, after 5 years through 10 years	1,304
Fair value, after 10 years	226,330
Total	234,263
Beneficial interest in loan securitizations
Amortized cost, 1 year or less	0
Amortized cost, after 1 year through 5 years	0
Amortized cost, after 5 years through 10 years	0
Amortized cost, after 10 years	0
Beneficial interest in securitizations	243,969	225,079
Fair value
Fair value, 1 year or less	0
Fair value, after 1 year through 5 years	0
Fair value, after 5 years through 10 years	0
Fair value, after 10 years	0
Beneficial interest in loan securitizations	261,850
Asset-backed securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Restricted Investments
Available-for-sale asset-backed securities
Amortized cost, 1 year or less	0
Amortized cost, after 1 year through 5 years	9,263
Amortized cost, after 5 years through 10 years	4,015
Amortized cost, after 10 years	34,690
Amortized cost	47,968	16,993
Fair value
Fair value, 1 year or less	0
Fair value, after 1 year through 5 years	9,295
Fair value, after 5 years through 10 years	4,049
Fair value, after 10 years	37,014
Total	50,358	17,969
Asset-Backed Securities, Available-For-Sale, Non-Nelnet Bank
Available-for-sale asset-backed securities
Amortized cost, 1 year or less	0
Amortized cost, after 1 year through 5 years	4,385
Amortized cost, after 5 years through 10 years	17,866
Amortized cost, after 10 years	489,888
Amortized cost	512,139	594,963
Fair value
Fair value, 1 year or less	0
Fair value, after 1 year through 5 years	4,428
Fair value, after 5 years through 10 years	17,748
Fair value, after 10 years	475,023
Total	497,199	566,324
Asset-Backed Securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Non-Nelnet Bank
Available-for-sale asset-backed securities
Amortized cost, 1 year or less	0
Amortized cost, after 1 year through 5 years	4,285
Amortized cost, after 5 years through 10 years	13,866
Amortized cost, after 10 years	201,925
Amortized cost	220,076	271,479
Fair value
Total	225,536	270,969
Asset-Backed Securities, Available-For-Sale, Private Education Loans, Non-Nelnet Bank
Available-for-sale asset-backed securities
Amortized cost, 1 year or less	0
Amortized cost, after 1 year through 5 years	0
Amortized cost, after 5 years through 10 years	0
Amortized cost, after 10 years	258,390
Amortized cost	258,390	281,791
Fair value
Total	235,948	252,917
Asset-Backed Securities, Available-For-Sale, Other, Non-Nelnet Bank
Available-for-sale asset-backed securities
Amortized cost, 1 year or less	0
Amortized cost, after 1 year through 5 years	100
Amortized cost, after 5 years through 10 years	4,000
Amortized cost, after 10 years	29,573
Amortized cost	33,673	41,693
Fair value
Total	35,715	42,438
Asset-Backed Securities, Available-For-Sale, Nelnet Bank
Available-for-sale asset-backed securities
Amortized cost, 1 year or less	53,474
Amortized cost, after 1 year through 5 years	54,248
Amortized cost, after 5 years through 10 years	40,282
Amortized cost, after 10 years	237,729
Amortized cost	385,733	370,922
Fair value
Fair value, 1 year or less	54,336
Fair value, after 1 year through 5 years	54,254
Fair value, after 5 years through 10 years	40,457
Fair value, after 10 years	242,925
Total	391,972	371,610
Asset-Backed Securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Nelnet Bank
Available-for-sale asset-backed securities
Amortized cost, 1 year or less	53,474
Amortized cost, after 1 year through 5 years	21,141
Amortized cost, after 5 years through 10 years	23,908
Amortized cost, after 10 years	128,601
Amortized cost	227,124	304,555
Fair value
Total	233,864	306,757
Asset-Backed Securities, Available-For-Sale, Other, Nelnet Bank
Available-for-sale asset-backed securities
Amortized cost, 1 year or less	0
Amortized cost, after 1 year through 5 years	33,107
Amortized cost, after 5 years through 10 years	16,374
Amortized cost, after 10 years	109,128
Amortized cost	158,609	49,284
Fair value
Total	158,108	47,760
Debt Securities, Held-To-Maturity, Non-Nelnet Bank
Held-to-maturity investments
Amortized cost, 1 year or less	3,500
Amortized cost, after 1 year through 5 years	0
Amortized cost, after 5 years through 10 years	0
Amortized cost, after 10 years	0
Total	3,500	4,700
Fair value
Fair value, 1 year or less	3,500
Fair value, after 1 year through 5 years	0
Fair value, after 5 years through 10 years	0
Fair value, after 10 years	0
Total	3,500
Held-To-Maturity Investments, Nelnet Bank
Held-to-maturity investments
Amortized cost, 1 year or less	0
Amortized cost, after 1 year through 5 years	3,041
Amortized cost, after 5 years through 10 years	1,278
Amortized cost, after 10 years	221,064
Total	225,383	158,038
Fair value
Fair value, 1 year or less	0
Fair value, after 1 year through 5 years	3,129
Fair value, after 5 years through 10 years	1,304
Fair value, after 10 years	226,330
Total	230,763
Asset-Backed Securities, Held-To-Maturity, Federal Family Education Loan Program (FFELP) Loans, Nelnet Bank
Held-to-maturity investments
Amortized cost, 1 year or less	0
Amortized cost, after 1 year through 5 years	3,041
Amortized cost, after 5 years through 10 years	1,278
Amortized cost, after 10 years	212,964
Total	217,283	$ 149,938
Private education loan, Held-To-Maturity, Nelnet Bank
Held-to-maturity investments
Amortized cost, 1 year or less	0
Amortized cost, after 1 year through 5 years	0
Amortized cost, after 5 years through 10 years	0
Amortized cost, after 10 years	8,100
Total	$ 8,100

Investments and Notes Receiva_5

Investments and Notes Receivable - Schedule of Unrealized Positions for Held-to-Maturity Investments and Beneficial Interest in Loan Securitizations (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Investments, All Other Investments [Abstract]
Carrying value	$ 228,883,000	$ 162,738,000
Gross unrealized gains	5,380,000
Gross unrealized losses	0
Fair value	234,263,000
Beneficial interest in loan securitizations, Carrying Value	243,969,000	$ 225,079,000
Gross unrealized gains	20,512,000
Gross unrealized losses	(2,631,000)
Beneficial interest in loan securitizations	261,850,000
Unrealized losses due to credit losses	0
Unrealized losses due to credit losses	$ 0

Investments and Notes Receiva_6

Investments and Notes Receivable - Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value (Details)	Jun. 30, 2024 USD ($)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Asset -backed securities unrealized loss position not due to credit loss	$ 0
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, unrealized loss	(167,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(26,576,000)
Total, unrealized loss	(26,743,000)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, fair value	34,453,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	366,737,000
Total, fair value	401,190,000
Asset-backed securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Restricted Investments
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, unrealized loss	(83,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	0
Total, unrealized loss	(83,000)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, fair value	8,167,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	0
Total, fair value	8,167,000
Asset-Backed Securities, Available-For-Sale, Non-Nelnet Bank
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, unrealized loss	(7,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(23,885,000)
Total, unrealized loss	(23,892,000)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, fair value	3,494,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	315,268,000
Total, fair value	318,762,000
Asset-Backed Securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Non-Nelnet Bank
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, unrealized loss	(7,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(1,443,000)
Total, unrealized loss	(1,450,000)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, fair value	3,494,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	79,320,000
Total, fair value	82,814,000
Asset-Backed Securities, Available-For-Sale, Private Education Loans, Non-Nelnet Bank
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, unrealized loss	0
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(22,442,000)
Total, unrealized loss	(22,442,000)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, fair value	0
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	235,948,000
Total, fair value	235,948,000
Asset-Backed Securities, Available-For-Sale, Nelnet Bank
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, unrealized loss	(77,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(2,691,000)
Total, unrealized loss	(2,768,000)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, fair value	22,792,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	51,469,000
Total, fair value	74,261,000
Asset-Backed Securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Nelnet Bank
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, unrealized loss	(35,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(1,315,000)
Total, unrealized loss	(1,350,000)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, fair value	9,694,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	34,871,000
Total, fair value	44,565,000
Asset-Backed Securities, Available-For-Sale, Other, Nelnet Bank
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, unrealized loss	(42,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(1,376,000)
Total, unrealized loss	(1,418,000)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available-for-sale asset-backed securities, unrealized loss position less than 12 months, fair value	13,098,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	16,598,000
Total, fair value	$ 29,696,000

Investments and Notes Receiva_7

Investments and Notes Receivable - Gross Proceeds and Gross Realized Gains and Losses of Available-for-Sale Asset-Backed Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Investments [Abstract]
Gross proceeds from sales	$ 113,173	$ 85,375	$ 266,547	$ 577,548
Gross realized gains	1,516	920	2,571	2,194
Gross realized losses	(463)	(2)	(966)	(6,258)
Net gains (losses)	$ 1,053	$ 918	$ 1,605	$ (4,064)

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	98 months
Finite lived intangible assets	$ 40,521	$ 44,819
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	100 months
Finite lived intangible assets	$ 38,943	43,031
Accumulated amortization	$ 50,661	46,573
Trade names
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	94 months
Finite lived intangible assets	$ 603	642
Accumulated amortization	$ 167	8,268
Computer software
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	34 months
Finite lived intangible assets	$ 975	1,146
Accumulated amortization	$ 745	$ 574

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization of intangible assets	$ 2.1	$ 3.5	$ 4.3	$ 6.2

Intangible Assets - Future Amor

Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2024 (July 1 - December 31)	$ 4,193
2025	6,099
2026	6,012
2027	5,714
2028	5,354
2029 and thereafter	13,149
Finite lived intangible assets, net	$ 40,521	$ 44,819

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Line Items]
Total goodwill	$ 158,029	$ 158,029
NFS Other Operating Segments
Goodwill [Line Items]
Total goodwill	0	0
Corporate and Other Activities
Goodwill [Line Items]
Total goodwill	0	0
Loan Servicing and Systems | Operating Segments
Goodwill [Line Items]
Total goodwill	23,639	23,639
Education Technology Services and Payments | Operating Segments
Goodwill [Line Items]
Total goodwill	92,507	92,507
Asset Generation and Management | Operating Segments
Goodwill [Line Items]
Total goodwill	41,883	41,883
Nelnet Bank | Operating Segments
Goodwill [Line Items]
Total goodwill	$ 0	$ 0

Impairment Expense, Provision_3

Impairment Expense, Provision for Beneficial Interests, and Restructure Charges (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Investments - beneficial interest in consumer loan securitizations	$ 5,911,000	$ 5,911,000
Investments - venture capital		37,000
Impairment expense and provision for beneficial interests	7,776,000	7,813,000	$ 0
Solar
Segment Reporting Information [Line Items]
Property and equipment - solar facilities	1,170,000	1,170,000
Other assets - solar inventory	695,000	695,000
Operating Segments | Loan Servicing and Systems
Segment Reporting Information [Line Items]
Investments - beneficial interest in consumer loan securitizations	0	0
Investments - venture capital		0
Impairment expense and provision for beneficial interests	0	0
Operating Segments | Education Technology Services and Payments
Segment Reporting Information [Line Items]
Investments - beneficial interest in consumer loan securitizations	0	0
Investments - venture capital		0
Impairment expense and provision for beneficial interests	0	0
Operating Segments | Asset Generation and Management
Segment Reporting Information [Line Items]
Investments - beneficial interest in consumer loan securitizations	5,911,000	5,911,000
Investments - venture capital		0
Impairment expense and provision for beneficial interests	5,911,000	5,911,000
Operating Segments | Nelnet Bank
Segment Reporting Information [Line Items]
Investments - beneficial interest in consumer loan securitizations	0	0
Investments - venture capital		0
Impairment expense and provision for beneficial interests	0	0
Operating Segments | Solar | Loan Servicing and Systems
Segment Reporting Information [Line Items]
Property and equipment - solar facilities	0	0
Other assets - solar inventory	0	0
Operating Segments | Solar | Education Technology Services and Payments
Segment Reporting Information [Line Items]
Property and equipment - solar facilities	0	0
Other assets - solar inventory	0	0
Operating Segments | Solar | Asset Generation and Management
Segment Reporting Information [Line Items]
Property and equipment - solar facilities	0	0
Other assets - solar inventory	0	0
Operating Segments | Solar | Nelnet Bank
Segment Reporting Information [Line Items]
Property and equipment - solar facilities	0	0
Other assets - solar inventory	0	0
NFS Other Operating Segments
Segment Reporting Information [Line Items]
Investments - beneficial interest in consumer loan securitizations	0	0
Investments - venture capital		0
Impairment expense and provision for beneficial interests	0	0
NFS Other Operating Segments | Solar
Segment Reporting Information [Line Items]
Property and equipment - solar facilities	0	0
Other assets - solar inventory	0	0
Corporate and Other Activities
Segment Reporting Information [Line Items]
Investments - beneficial interest in consumer loan securitizations	0	0
Investments - venture capital		37,000
Impairment expense and provision for beneficial interests	1,865,000	1,902,000
Corporate and Other Activities | Solar
Segment Reporting Information [Line Items]
Property and equipment - solar facilities	1,170,000	1,170,000
Other assets - solar inventory	$ 695,000	$ 695,000

Impairment Expense, Provision_4

Impairment Expense, Provision for Beneficial Interests, and Restructure Charges (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($) associate	Jun. 30, 2024 USD ($) associate
Solar
Related Party Transaction [Line Items]
Number of associates | associate		40
Loan servicing and systems revenue
Related Party Transaction [Line Items]
Number of associates | associate	220
Employee Severance | Solar
Related Party Transaction [Line Items]
Restructuring charges	$ 1.6
Employee Severance | Loan servicing and systems revenue
Related Party Transaction [Line Items]
Restructuring charges	2.1
Expected restructuring costs	$ 7.1	$ 7.1

Bank Deposits - Interest-Bearin

Bank Deposits - Interest-Bearing Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deposits [Abstract]
Retail and other savings	$ 622,080	$ 520,017
Brokered CDs, net of brokered deposit fees	246,156	203,522
Retail and other CDs, net of issuance fees	22,236	20,060
Total interest-bearing deposits	$ 890,472	$ 743,599

Bank Deposits - Narrative (Deta

Bank Deposits - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Financial Instruments Owned and Pledged as Collateral [Line Items]
Intercompany deposits	$ 143,000	$ 104,000
Restricted cash	538,446	$ 488,723	$ 484,223	$ 945,159
Deposits exceeding the FDIC insurance limits	44,900
Nelnet Bank | Asset Pledged as Collateral
Financial Instruments Owned and Pledged as Collateral [Line Items]
Restricted cash	$ 40,000

Bank Deposits - Certificates of

Bank Deposits - Certificates of Deposit Maturities (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Deposits [Abstract]
One year or less	$ 982
After one year to two years	149,045
After two years to three years	75,172
After three years to four years	348
After four years to five years	42,845
After five years	0
Total	$ 268,392

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc., basic	$ 45,091	$ 27,426	$ 118,498	$ 53,385
Net income attributable to Nelnet, Inc., diluted	$ 45,091	$ 27,426	$ 118,498	$ 53,385
Weighted-average common shares outstanding - basic (in shares)	36,525,482	37,468,397	36,841,227	37,406,843
Weighted-average common shares outstanding - diluted (in shares)	36,525,482	37,468,397	36,841,227	37,406,843
Earnings per share - basic (in dollars per share)	$ 1.23	$ 0.73	$ 3.22	$ 1.43
Earnings per share - diluted (in dollars per share)	$ 1.23	$ 0.73	$ 3.22	$ 1.43
Common shareholders
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc., basic	$ 44,239	$ 26,842	$ 116,178	$ 52,270
Net income attributable to Nelnet, Inc., diluted	$ 44,239	$ 26,842	$ 116,178	$ 52,270
Weighted-average common shares outstanding - basic (in shares)	35,835,387	36,670,933	36,119,876	36,625,819
Weighted-average common shares outstanding - diluted (in shares)	35,835,387	36,670,933	36,119,876	36,625,819
Earnings per share - basic (in dollars per share)	$ 1.23	$ 0.73	$ 3.22	$ 1.43
Earnings per share - diluted (in dollars per share)	$ 1.23	$ 0.73	$ 3.22	$ 1.43
Unvested restricted stock shareholders
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc., basic	$ 852	$ 584	$ 2,320	$ 1,115
Net income attributable to Nelnet, Inc., diluted	$ 852	$ 584	$ 2,320	$ 1,115
Weighted-average common shares outstanding - basic (in shares)	690,095	797,464	721,351	781,024
Weighted-average common shares outstanding - diluted (in shares)	690,095	797,464	721,351	781,024
Earnings per share - basic (in dollars per share)	$ 1.23	$ 0.73	$ 3.22	$ 1.43
Earnings per share - diluted (in dollars per share)	$ 1.23	$ 0.73	$ 3.22	$ 1.43

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Interest income:
Loan interest	$ 202,129	$ 243,045	$ 418,853	$ 468,288
Investment interest	40,737	40,982	92,814	81,707
Total interest income	242,866	284,027	511,667	549,995
Interest expense	176,459	233,148	371,039	432,597
Net interest income	66,407	50,879	140,628	117,398
Less provision (negative provision) for loan losses	3,611	(11,380)	14,440	791
Net interest income after provision for loan losses	62,796	62,259	126,188	116,607
Other income (expense):
Intersegment revenue	0	0	0	0
Other, net	28,871	(9,167)	45,734	(24,235)
Loss on sale of loans	(1,438)	(5,461)	(1,579)	(15,753)
Impairment expense and provision for beneficial interests	(7,776)	0	(7,813)	0
Derivative settlements, net	1,649	65	3,406	23,402
Derivative market value adjustments, net	1,533	2,005	9,497	(35,407)
Total other income (expense), net	258,494	224,055	569,366	466,102
Cost of services:
Cost of services	48,294	49,529	111,132	105,532
Operating expenses:
Salaries and benefits	139,634	144,706	283,509	297,416
Depreciation and amortization	15,142	18,652	31,911	35,279
Other expenses	59,792	45,997	116,637	86,781
Intersegment expenses, net	0	0	0	0
Total operating expenses	214,568	209,355	432,057	419,476
Income (loss) before income taxes	58,428	27,430	152,365	57,701
Income tax (expense) benefit	(14,753)	(10,187)	(37,936)	(18,273)
Net income	43,675	17,243	114,429	39,428
Net loss (income) attributable to noncontrolling interests	1,416	10,183	4,069	13,957
Net income attributable to Nelnet, Inc.	45,091	27,426	118,498	53,385
Total assets	14,501,193	17,785,690	14,501,193	17,785,690	$ 16,712,384
Operating Segments | Loan Servicing and Systems
Interest income:
Loan interest	0	0	0	0
Investment interest	1,258	1,058	3,152	2,095
Total interest income	1,258	1,058	3,152	2,095
Interest expense	0	0	0	0
Net interest income	1,258	1,058	3,152	2,095
Less provision (negative provision) for loan losses	0	0	0	0
Net interest income after provision for loan losses	1,258	1,058	3,152	2,095
Other income (expense):
Intersegment revenue	6,106	7,246	12,991	15,036
Other, net	685	605	1,395	1,213
Loss on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests	0	0	0	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income (expense), net	115,843	129,871	250,638	277,496
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	70,631	76,141	147,353	160,701
Depreciation and amortization	5,342	4,863	10,450	9,377
Other expenses	20,661	13,818	40,198	27,131
Intersegment expenses, net	18,224	19,079	37,555	40,136
Total operating expenses	114,858	113,901	235,556	237,345
Income (loss) before income taxes	2,243	17,028	18,234	42,246
Income tax (expense) benefit	(538)	(4,086)	(4,376)	(10,139)
Net income	1,705	12,942	13,858	32,107
Net loss (income) attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	1,705	12,942	13,858	32,107
Total assets	264,381	173,926	264,381	173,926
Operating Segments | Education Technology Services and Payments
Interest income:
Loan interest	0	0	0	0
Investment interest	5,715	5,268	13,580	11,304
Total interest income	5,715	5,268	13,580	11,304
Interest expense	0	0	0	0
Net interest income	5,715	5,268	13,580	11,304
Less provision (negative provision) for loan losses	0	0	0	0
Net interest income after provision for loan losses	5,715	5,268	13,580	11,304
Other income (expense):
Intersegment revenue	56	65	106	121
Other, net	0	0	0	0
Loss on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests	0	0	0	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income (expense), net	116,965	109,923	260,555	243,583
Cost of services:
Cost of services	40,222	40,407	88,832	88,110
Operating expenses:
Salaries and benefits	40,736	38,351	80,903	76,264
Depreciation and amortization	2,712	2,815	5,395	5,393
Other expenses	8,600	9,692	16,158	17,755
Intersegment expenses, net	4,811	5,884	9,612	11,684
Total operating expenses	56,859	56,742	112,068	111,096
Income (loss) before income taxes	25,599	18,042	73,235	55,681
Income tax (expense) benefit	(6,150)	(4,327)	(17,585)	(13,393)
Net income	19,449	13,715	55,650	42,288
Net loss (income) attributable to noncontrolling interests	29	(19)	46	119
Net income attributable to Nelnet, Inc.	19,478	13,696	55,696	42,407
Total assets	478,077	482,922	478,077	482,922
Operating Segments | Asset Generation and Management
Interest income:
Loan interest	193,707	237,906	403,335	458,818
Investment interest	13,709	15,857	35,544	29,664
Total interest income	207,416	253,763	438,879	488,482
Interest expense	171,632	232,313	362,537	421,511
Net interest income	35,784	21,450	76,342	66,971
Less provision (negative provision) for loan losses	(4,225)	(12,873)	2,230	(3,119)
Net interest income after provision for loan losses	40,009	34,323	74,112	70,090
Other income (expense):
Intersegment revenue	0	0	0	0
Other, net	1,337	1,319	6,321	4,164
Loss on sale of loans	(1,438)	(5,461)	(1,579)	(15,753)
Impairment expense and provision for beneficial interests	(5,911)	0	(5,911)	0
Derivative settlements, net	1,442	(18)	2,997	23,319
Derivative market value adjustments, net	936	897	6,642	(36,515)
Total other income (expense), net	(3,634)	(3,263)	8,470	(24,785)
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	1,113	1,096	2,308	1,851
Depreciation and amortization	0	0	0	0
Other expenses	3,793	4,115	7,210	9,131
Intersegment expenses, net	7,159	8,145	15,009	16,841
Total operating expenses	12,065	13,356	24,527	27,823
Income (loss) before income taxes	24,310	17,704	58,055	17,482
Income tax (expense) benefit	(5,835)	(4,249)	(13,933)	(4,196)
Net income	18,475	13,455	44,122	13,286
Net loss (income) attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	18,475	13,455	44,122	13,286
Total assets	11,315,210	14,667,357	11,315,210	14,667,357
Operating Segments | Nelnet Bank
Interest income:
Loan interest	8,422	5,139	15,518	9,471
Investment interest	10,811	8,522	20,779	16,449
Total interest income	19,233	13,661	36,297	25,920
Interest expense	10,769	8,171	20,266	15,385
Net interest income	8,464	5,490	16,031	10,535
Less provision (negative provision) for loan losses	7,836	1,493	12,210	3,910
Net interest income after provision for loan losses	628	3,997	3,821	6,625
Other income (expense):
Intersegment revenue	0	0	0	0
Other, net	775	620	1,150	830
Loss on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests	0	0	0	0
Derivative settlements, net	207	83	409	83
Derivative market value adjustments, net	597	1,108	2,855	1,108
Total other income (expense), net	1,579	1,811	4,414	2,021
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	2,798	2,297	5,518	4,361
Depreciation and amortization	341	51	601	56
Other expenses	2,067	1,624	3,194	2,406
Intersegment expenses, net	719	92	1,493	173
Total operating expenses	5,925	4,064	10,806	6,996
Income (loss) before income taxes	(3,718)	1,744	(2,571)	1,650
Income tax (expense) benefit	916	(396)	657	(362)
Net income	(2,802)	1,348	(1,914)	1,288
Net loss (income) attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	(2,802)	1,348	(1,914)	1,288
Total assets	1,185,302	1,005,043	1,185,302	1,005,043
NFS Other Operating Segments
Interest income:
Loan interest	0	0	0	0
Investment interest	15,880	22,800	31,495	41,460
Total interest income	15,880	22,800	31,495	41,460
Interest expense	2,606	7,371	5,024	19,198
Net interest income	13,274	15,429	26,471	22,262
Less provision (negative provision) for loan losses	0	0	0	0
Net interest income after provision for loan losses	13,274	15,429	26,471	22,262
Other income (expense):
Intersegment revenue	0	0	0	0
Other, net	15,702	5,967	28,644	5,226
Loss on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests	0	0	0	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income (expense), net	15,702	5,967	28,644	5,226
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	374	210	732	429
Depreciation and amortization	0	0	0	0
Other expenses	11,829	4,134	23,632	4,701
Intersegment expenses, net	248	127	465	256
Total operating expenses	12,451	4,471	24,829	5,386
Income (loss) before income taxes	16,525	16,925	30,286	22,102
Income tax (expense) benefit	(3,935)	(4,031)	(7,209)	(5,240)
Net income	12,590	12,894	23,077	16,862
Net loss (income) attributable to noncontrolling interests	(129)	(128)	(249)	(269)
Net income attributable to Nelnet, Inc.	12,461	12,766	22,828	16,593
Total assets	1,038,068	1,099,212	1,038,068	1,099,212
Corporate and Other Activities
Interest income:
Loan interest	0	0	0	0
Investment interest	2,646	3,055	6,461	5,594
Total interest income	2,646	3,055	6,461	5,594
Interest expense	733	871	1,409	1,362
Net interest income	1,913	2,184	5,052	4,232
Less provision (negative provision) for loan losses	0	0	0	0
Net interest income after provision for loan losses	1,913	2,184	5,052	4,232
Other income (expense):
Intersegment revenue	0	0	0	0
Other, net	10,372	(17,677)	8,224	(35,667)
Loss on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests	(1,865)	0	(1,902)	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income (expense), net	18,201	(12,942)	29,742	(22,281)
Cost of services:
Cost of services	8,072	9,122	22,300	17,422
Operating expenses:
Salaries and benefits	24,786	26,756	48,307	53,955
Depreciation and amortization	6,748	10,923	15,464	20,454
Other expenses	12,842	12,613	26,243	25,657
Intersegment expenses, net	(25,803)	(26,161)	(52,648)	(54,078)
Total operating expenses	18,573	24,131	37,366	45,988
Income (loss) before income taxes	(6,531)	(44,011)	(24,872)	(81,459)
Income tax (expense) benefit	788	6,902	4,511	15,056
Net income	(5,743)	(37,109)	(20,361)	(66,403)
Net loss (income) attributable to noncontrolling interests	1,516	10,330	4,272	14,107
Net income attributable to Nelnet, Inc.	(4,227)	(26,779)	(16,089)	(52,296)
Total assets	778,549	970,987	778,549	970,987
Eliminations
Interest income:
Loan interest	0	0	0	0
Investment interest	(9,282)	(15,578)	(18,197)	(24,860)
Total interest income	(9,282)	(15,578)	(18,197)	(24,860)
Interest expense	(9,282)	(15,578)	(18,197)	(24,860)
Net interest income	0	0	0	0
Less 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	(6,162)	(7,311)	(13,097)	(15,157)
Other, net	0	0	0	0
Loss on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests	0	0	0	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income (expense), net	(6,162)	(7,311)	(13,097)	(15,157)
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	(804)	(145)	(1,611)	(145)
Depreciation and amortization	0	0	0	0
Other expenses	0	0	0	0
Intersegment expenses, net	(5,358)	(7,166)	(11,486)	(15,012)
Total operating expenses	(6,162)	(7,311)	(13,097)	(15,157)
Income (loss) before income taxes	0	0	0	0
Income tax (expense) benefit	0	0	0	0
Net income	0	0	0	0
Net loss (income) attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	0	0	0	0
Total assets	(558,394)	(613,757)	(558,394)	(613,757)
Loan servicing and systems revenue
Other income (expense):
Revenue	109,052	122,020	236,252	261,247
Loan servicing and systems revenue | Operating Segments | Loan Servicing and Systems
Other income (expense):
Revenue	109,052	122,020	236,252	261,247
Loan servicing and systems revenue | Operating Segments | Education Technology Services and Payments
Other income (expense):
Revenue	0	0	0	0
Loan servicing and systems revenue | Operating Segments | Asset Generation and Management
Other income (expense):
Revenue	0	0	0	0
Loan servicing and systems revenue | Operating Segments | Nelnet Bank
Other income (expense):
Revenue	0	0	0	0
Loan servicing and systems revenue | NFS Other Operating Segments
Other income (expense):
Revenue	0	0	0	0
Loan servicing and systems revenue | Corporate and Other Activities
Other income (expense):
Revenue	0	0	0	0
Loan servicing and systems revenue | Eliminations
Other income (expense):
Revenue	0	0	0	0
Education technology services and payments
Other income (expense):
Revenue	116,909	109,858	260,449	243,462
Cost of services:
Cost of services	40,222	40,407	88,832	88,110
Education technology services and payments | Operating Segments | Loan Servicing and Systems
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Education technology services and payments | Operating Segments | Education Technology Services and Payments
Other income (expense):
Revenue	116,909	109,858	260,449	243,462
Cost of services:
Cost of services	40,222	40,407	88,832	88,110
Education technology services and payments | Operating Segments | Asset Generation and Management
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Education technology services and payments | Operating Segments | Nelnet Bank
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Education technology services and payments | NFS Other Operating Segments
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Education technology services and payments | Corporate and Other Activities
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Education technology services and payments | Eliminations
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Solar construction revenue
Other income (expense):
Revenue	9,694	4,735	23,420	13,386
Cost of services:
Cost of services	8,072	9,122	22,300	17,422
Solar construction revenue | Operating Segments | Loan Servicing and Systems
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Solar construction revenue | Operating Segments | Education Technology Services and Payments
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Solar construction revenue | Operating Segments | Asset Generation and Management
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Solar construction revenue | Operating Segments | Nelnet Bank
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Solar construction revenue | NFS Other Operating Segments
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Solar construction revenue | Corporate and Other Activities
Other income (expense):
Revenue	9,694	4,735	23,420	13,386
Cost of services:
Cost of services	8,072	9,122	22,300	17,422
Solar construction revenue | Eliminations
Other income (expense):
Revenue	0	0	0	0
Cost of services:
Cost of services	$ 0	$ 0	$ 0	$ 0

Disaggregated Revenue - Disaggr

Disaggregated Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Solar construction revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 9,694	$ 4,735	$ 23,420	$ 13,386
Commercial revenue
Disaggregation of Revenue [Line Items]
Revenue	8,777	2,329	20,355	8,205
Residential revenue
Disaggregation of Revenue [Line Items]
Revenue	917	2,406	3,065	5,181
Loan servicing and systems revenue
Disaggregation of Revenue [Line Items]
Revenue	109,052	122,020	236,252	261,247
Government loan servicing
Disaggregation of Revenue [Line Items]
Revenue	87,014	95,736	192,490	204,618
Private education and consumer loan servicing
Disaggregation of Revenue [Line Items]
Revenue	12,959	12,063	25,577	24,225
FFELP loan servicing
Disaggregation of Revenue [Line Items]
Revenue	3,245	3,554	6,624	6,921
Software services
Disaggregation of Revenue [Line Items]
Revenue	4,879	5,962	9,420	15,660
Outsourced services
Disaggregation of Revenue [Line Items]
Revenue	955	4,705	2,141	9,823
Education technology services and payments revenue
Disaggregation of Revenue [Line Items]
Revenue	116,909	109,858	260,449	243,462
Tuition payment plan services
Disaggregation of Revenue [Line Items]
Revenue	34,164	30,825	73,043	65,012
Payment processing
Disaggregation of Revenue [Line Items]
Revenue	34,326	31,827	82,113	75,868
Education technology services
Disaggregation of Revenue [Line Items]
Revenue	47,205	46,216	103,227	101,004
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 1,214	$ 990	$ 2,066	$ 1,578

Disaggregated Revenue - Other I

Disaggregated Revenue - Other Income (Expense) by Component (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Reinsurance premiums	$ 14,851	$ 3,816	$ 27,631	$ 4,351
ALLO preferred return	4,160	2,274	6,569	4,523
Borrower late fee income	2,584	2,168	$ 5,718	4,414
Late Fee Income, Servicing Financial Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]			Other, net
Administration/sponsor fee income	1,482	1,697	$ 3,028	3,468
Contractually Specified Servicing Fee Income, Statement of Income or Comprehensive Income [Extensible Enumeration]			Other, net
Investment activity, net	217	(3,574)	$ (1,082)	(7,154)
Other	6,663	5,068	11,360	8,324
Other, net	28,871	(9,167)	45,734	(24,235)
ALLO Voting Membership Interests Investment
Disaggregation of Revenue [Line Items]
Gain (loss) on investments	0	(12,169)	(10,693)	(32,382)
Solar
Disaggregation of Revenue [Line Items]
Gain (loss) on investments	(2,610)	(10,086)	170	(13,030)
Investment Advice
Disaggregation of Revenue [Line Items]
Investment advisory services (WRCM)	$ 1,524	$ 1,639	$ 3,033	$ 3,251

Major Customer (Details)

Major Customer (Details) - Government Loan Servicing $ in Millions		3 Months Ended		6 Months Ended
	Apr. 24, 2023 extension	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Concentration Risk [Line Items]
Revenue | $		$ 87	$ 95.7	$ 192.5	$ 204.6
Contract with customer, contract term	5 years
Contract with customer, option to extend, option one, number of extensions	2
Contract with customer, option to extend, option one, extension period	2 years
Contract with customer, option to extend, option two, number of extensions	1
Contract with customer, option to extend, option two, extension period	1 year

Fair Value - Fair Value, Assets

Fair Value - Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Total investments	$ 999,150	$ 1,006,810
Derivative instruments	$ 2,112	452
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets
Total assets	$ 1,001,262	1,007,262
Liabilities:
Derivative instruments	$ 780	1,976
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Total liabilities	$ 780	1,976
Asset-backed debt securities - available-for-sale
Assets:
Total investments	939,529	955,903
Equity securities
Assets:
Total investments	187	73
Equity securities measured at net asset value
Assets:
Total investments	59,434	50,834
Level 1
Assets:
Total investments	287	172
Derivative instruments	0	0
Total assets	287	172
Liabilities:
Derivative instruments	0	0
Total liabilities	0	0
Level 1 | Asset-backed debt securities - available-for-sale
Assets:
Total investments	100	99
Level 1 | Equity securities
Assets:
Total investments	187	73
Level 2
Assets:
Total investments	939,429	955,804
Derivative instruments	2,112	452
Total assets	941,541	956,256
Liabilities:
Derivative instruments	780	1,976
Total liabilities	780	1,976
Level 2 | Asset-backed debt securities - available-for-sale
Assets:
Total investments	939,429	955,804
Level 2 | Equity securities
Assets:
Total investments	$ 0	$ 0

Fair Value - Fair Value of Fina

Fair Value - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Financial assets:
Loans receivable	$ 10,939,519	$ 13,108,204
Accrued loan interest receivable	619,472	764,385
Cash and cash equivalents	145,478	168,112	$ 121,769	$ 118,146
Investments - held-to-maturity	234,263
Beneficial interest in loan securitizations	261,850
Restricted cash - due to customers	259,479	368,656	$ 208,033	$ 294,311
Financial liabilities:
Accrued interest payable	27,141	35,391
Bank deposits	890,472	743,599
Due to customers	388,876	425,507
Fair value
Financial assets:
Loans receivable	10,902,478	12,800,638
Accrued loan interest receivable	619,472	764,385
Cash and cash equivalents	145,478	168,112
Investments (at fair value)	999,150	1,006,810
Investments - held-to-maturity	234,263	163,622
Notes receivable	28,565	53,747
Beneficial interest in loan securitizations	261,850	262,093
Restricted cash	538,446	488,723
Restricted cash - due to customers	259,479	368,656
Derivative instruments	2,112	452
Financial liabilities:
Bonds and notes payable	9,560,951	11,629,359
Accrued interest payable	27,141	35,391
Bank deposits	869,437	722,973
Due to customers	388,876	425,507
Derivative instruments	780	1,976
Fair value | Level 1
Financial assets:
Loans receivable	0	0
Accrued loan interest receivable	0	0
Cash and cash equivalents	145,478	168,112
Investments (at fair value)	287	172
Investments - held-to-maturity	0	0
Notes receivable	0	0
Beneficial interest in loan securitizations	0	0
Restricted cash	538,446	488,723
Restricted cash - due to customers	259,479	368,656
Derivative instruments	0	0
Financial liabilities:
Bonds and notes payable	0	0
Accrued interest payable	0	0
Bank deposits	575,265	467,420
Due to customers	388,876	425,507
Derivative instruments	0	0
Fair value | Level 2
Financial assets:
Loans receivable	0	0
Accrued loan interest receivable	619,472	764,385
Cash and cash equivalents	0	0
Investments (at fair value)	939,429	955,804
Investments - held-to-maturity	234,263	163,622
Notes receivable	28,565	53,747
Beneficial interest in loan securitizations	0	0
Restricted cash	0	0
Restricted cash - due to customers	0	0
Derivative instruments	2,112	452
Financial liabilities:
Bonds and notes payable	9,560,951	11,629,359
Accrued interest payable	27,141	35,391
Bank deposits	294,172	255,553
Due to customers	0	0
Derivative instruments	780	1,976
Fair value | Level 3
Financial assets:
Loans receivable	10,902,478	12,800,638
Accrued loan interest receivable	0	0
Cash and cash equivalents	0	0
Investments (at fair value)	0	0
Investments - held-to-maturity	0	0
Notes receivable	0	0
Beneficial interest in loan securitizations	261,850	262,093
Restricted cash	0	0
Restricted cash - due to customers	0	0
Derivative instruments	0	0
Financial liabilities:
Bonds and notes payable	0	0
Accrued interest payable	0	0
Bank deposits	0	0
Due to customers	0	0
Derivative instruments	0	0
Carrying value
Financial assets:
Loans receivable	10,320,047	12,343,819
Accrued loan interest receivable	619,472	764,385
Cash and cash equivalents	145,478	168,112
Investments (at fair value)	999,150	1,006,810
Investments - held-to-maturity	228,883	162,738
Notes receivable	28,565	53,747
Beneficial interest in loan securitizations	243,969	225,079
Restricted cash	538,446	488,723
Restricted cash - due to customers	259,479	368,656
Derivative instruments	2,112	452
Financial liabilities:
Bonds and notes payable	9,567,708	11,828,393
Accrued interest payable	27,141	35,391
Bank deposits	890,472	743,599
Due to customers	388,876	425,507
Derivative instruments	$ 780	$ 1,976