Nelnet (NNI) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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	Q3
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		25,625,046
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		10,663,088

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Loans and accrued interest receivable	$ 10,572,881	$ 13,108,204
Cash and cash equivalents:
Cash and cash equivalents	219,684	168,112
Investments and notes receivable (including investments at fair value of $996,385 and $988,841, respectively)	1,903,561	1,846,707
Restricted cash	344,366	488,723
Restricted cash - due to customers	334,968	368,656
Restricted investments	49,755	17,969
Accounts receivable (net of allowance for doubtful accounts of $3,675 and $4,304, respectively)	153,638	196,200
Goodwill	158,029	158,029
Intangible assets, net	38,371	44,819
Property and equipment, net	124,575	127,008
Other assets	184,300	187,957
Total assets	14,084,128	16,712,384
Liabilities:
Bonds and notes payable	8,938,446	11,828,393
Accrued interest payable	25,389	35,391
Bank deposits	1,070,758	743,599
Other liabilities	434,938	479,387
Due to customers	404,459	425,507
Total liabilities	10,873,990	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	4,179	3,096
Retained earnings	3,287,541	3,270,403
Accumulated other comprehensive loss, net	(1,431)	(20,119)
Total Nelnet, Inc. shareholders' equity	3,290,652	3,253,751
Noncontrolling interests	(80,514)	(53,644)
Total equity	3,210,138	3,200,107
Total liabilities and equity	14,084,128	16,712,384
Variable Interest Entity, Primary Beneficiary
Assets:
Loans and accrued interest receivable	9,842,750	12,676,932
Cash and cash equivalents:
Restricted cash	323,936	451,932
Liabilities:
Bonds and notes payable	9,182,445	12,006,170
Common stock:
Accrued interest payable and other liabilities	(98,744)	(135,748)
Net assets of consolidated education and other lending variable interest entities	885,497	986,946
Class A
Common stock:
Common stock	256	264
Class B
Common stock:
Common stock	107	107
Nonrelated Party
Cash and cash equivalents:
Cash and cash equivalents	90,731	34,912
Related Party
Cash and cash equivalents:
Cash and cash equivalents	$ 128,953	$ 133,200

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Allowance for loan losses	$ 102,142	$ 104,643
Investments at fair value	996,385	988,841
Allowance for doubtful accounts	$ 3,675	$ 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)	25,627,446	26,400,630
Common stock, outstanding (in shares)	25,627,446	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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest income:
Loan interest	$ 190,211	$ 236,423	$ 609,064	$ 704,712
Investment interest	50,272	48,128	143,086	129,835
Total interest income	240,483	284,551	752,150	834,547
Interest expense on bonds and notes payable and bank deposits	168,328	207,159	539,367	639,756
Net interest income	72,155	77,392	212,783	194,791
Less provision for loan losses	18,111	4,275	32,551	5,065
Net interest income after provision for loan losses	54,044	73,117	180,232	189,726
Other income (expense):
Other, net	32,325	(3,062)	78,057	(27,297)
Loss on sale of loans	(107)	(1,022)	(1,685)	(16,776)
Impairment expense and provision for beneficial interests	(29,052)	(4,974)	(36,865)	(4,974)
Derivative market value adjustments and derivative settlements, net	(11,525)	3,957	1,378	(8,047)
Total other income (expense), net	237,316	242,888	806,681	708,989
Cost of services:
Cost of services	72,088	51,477	183,221	157,008
Operating expenses:
Salaries and benefits	146,192	141,204	429,701	438,620
Depreciation and amortization	13,661	21,835	45,572	57,114
Other expenses	61,642	51,370	178,278	138,154
Total operating expenses	221,495	214,409	653,551	633,888
(Loss) income before income taxes	(2,223)	50,119	150,141	107,819
Income tax (benefit) expense	(282)	10,512	37,653	28,785
Net (loss) income	(1,941)	39,607	112,488	79,034
Net loss attributable to noncontrolling interests	4,329	4,747	8,398	18,705
Net income (loss) attributable to Nelnet, Inc.	$ 2,388	$ 44,354	$ 120,886	$ 97,739
Earnings per common share:
Net income attributable to Nelnet, Inc. shareholders - basic (in dollars per share)	$ 0.07	$ 1.18	$ 3.29	$ 2.61
Net income attributable to Nelnet, Inc. shareholders - diluted (in dollars per share)	$ 0.07	$ 1.18	$ 3.29	$ 2.61
Weighted-average common shares outstanding - basic (in shares)	36,430,485	37,498,073	36,703,314	37,437,587
Weighted-average common shares outstanding - diluted (in shares)	36,430,485	37,498,073	36,703,314	37,437,587
Loan servicing and systems revenue
Other income (expense):
Revenue	$ 108,175	$ 127,892	$ 344,428	$ 389,138
Education technology services and payments revenue
Other income (expense):
Revenue	118,179	113,796	378,627	357,258
Cost of services:
Cost of services	45,273	43,694	134,106	131,804
Solar construction revenue
Other income (expense):
Revenue	19,321	6,301	42,741	19,687
Cost of services:
Cost of services	$ 26,815	$ 7,783	$ 49,115	$ 25,204

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (1,941)	$ 39,607	$ 112,488	$ 79,034
Other comprehensive income (loss):
Net changes related to foreign currency translation adjustments	23	(8)	6	(11)
Net changes related to available-for-sale debt securities:
Unrealized holding gains (losses) arising during period, net	2,656	(4,566)	28,291	12,734
Reclassification of (gains) losses recognized in net income, net	(1,721)	(1,064)	(3,326)	3,001
Amortization of net unrealized loss on securities transferred from available-for-sale to held-to-maturity	64	66	186	136
Income tax effect	(240)	1,335	(6,036)	(3,810)
Unrealized gains (losses) during period after reclassifications and tax	759	(4,229)	19,115	12,061
Net changes related to equity method investee's other comprehensive income:
Gain (loss) on cash flow hedge	62	336	(570)	(163)
Income tax effect	(15)	(80)	137	40
Net changes related to equity method investee's other comprehensive, after income tax effect	47	256	(433)	(123)
Other comprehensive income (loss)	829	(3,981)	18,688	11,927
Comprehensive (loss) income	(1,112)	35,626	131,176	90,961
Comprehensive loss attributable to noncontrolling interests	4,329	4,747	8,398	18,705
Comprehensive income attributable to Nelnet, Inc.	$ 3,217	$ 40,373	$ 139,574	$ 109,666

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]
Net income (loss)	79,034					97,739		(18,705)
Other comprehensive (loss) income	11,927						11,927
Issuance of noncontrolling interests	31,996							31,996
Distribution to noncontrolling interests	(53,026)							(53,026)
Cash dividend on Class A and Class B common stock	(29,049)					(29,049)
Issuance of common stock, net of forfeitures (in shares)			241,195
Issuance of common stock, net of forfeitures	5,620		$ 2		5,618
Compensation expense for stock based awards	11,748				11,748
Repurchase of common stock (in shares)			(47,195)
Repurchase of common stock	(4,310)				(4,310)
Ending balance (in shares) at Sep. 30, 2023		0	26,655,651	10,668,460
Ending balance at Sep. 30, 2023	3,237,139	$ 0	$ 267	$ 107	14,165	3,296,370	(25,439)	(48,331)
Beginning balance (in shares) at Jun. 30, 2023			26,646,490	10,668,460
Beginning balance at Jun. 30, 2023	3,228,127		$ 266	$ 107	10,114	3,261,717	(21,458)	(22,619)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	39,607					44,354		(4,747)
Other comprehensive (loss) income	(3,981)						(3,981)
Issuance of noncontrolling interests	19,092							19,092
Distribution to noncontrolling interests	(40,057)							(40,057)
Cash dividend on Class A and Class B common stock	(9,701)					(9,701)
Issuance of common stock, net of forfeitures (in shares)			15,109
Issuance of common stock, net of forfeitures	500		$ 1		499
Compensation expense for stock based awards	4,095				4,095
Repurchase of common stock (in shares)			(5,948)
Repurchase of common stock	(543)				(543)
Ending balance (in shares) at Sep. 30, 2023		0	26,655,651	10,668,460
Ending balance at Sep. 30, 2023	3,237,139	$ 0	$ 267	$ 107	14,165	3,296,370	(25,439)	(48,331)
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]
Net income (loss)	112,488					120,886		(8,398)
Other comprehensive (loss) income	18,688						18,688
Issuance of noncontrolling interests	29,150							29,150
Distribution to noncontrolling interests	(49,715)							(49,715)
Cash dividend on Class A and Class B common stock	(30,676)					(30,676)
Issuance of common stock, net of forfeitures (in shares)			116,779
Issuance of common stock, net of forfeitures	4,527		$ 1		4,526
Compensation expense for stock based awards	8,703				8,703
Repurchase of common stock (in shares)			(889,963)
Repurchase of common stock	(82,887)		$ (9)		(12,146)	(70,732)
Acquisition of remaining 20% of GRNE Solar, net of tax	(247)					(2,340)		2,093
Ending balance (in shares) at Sep. 30, 2024		0	25,627,446	10,663,088
Ending balance at Sep. 30, 2024	3,210,138	$ 0	$ 256	$ 107	4,179	3,287,541	(1,431)	(80,514)
Beginning balance (in shares) at Jun. 30, 2024			25,585,840	10,663,088
Beginning balance at Jun. 30, 2024	3,220,022		$ 256	$ 107	657	3,295,301	(2,260)	(74,039)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,941)					2,388		(4,329)
Other comprehensive (loss) income	829						829
Issuance of noncontrolling interests	20,999							20,999
Distribution to noncontrolling interests	(23,145)							(23,145)
Cash dividend on Class A and Class B common stock	(10,148)					(10,148)
Issuance of common stock, net of forfeitures (in shares)			46,865
Issuance of common stock, net of forfeitures	1,230				1,230
Compensation expense for stock based awards	2,868				2,868
Repurchase of common stock (in shares)			(5,259)
Repurchase of common stock	(576)				(576)
Ending balance (in shares) at Sep. 30, 2024		0	25,627,446	10,663,088
Ending balance at Sep. 30, 2024	$ 3,210,138	$ 0	$ 256	$ 107	$ 4,179	$ 3,287,541	$ (1,431)	$ (80,514)

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 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	$ 0.84	$ 0.78
Common Class B
Cash dividend on common stock (in dollars per share)	$ 0.28	$ 0.26	$ 0.84	$ 0.78

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Net cash provided by operating activities:
Net income attributable to Nelnet, Inc.		$ 120,886	$ 97,739
Net loss attributable to noncontrolling interests		(8,398)	(18,705)
Net (loss) income		112,488	79,034
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		106,022	128,658
Loan discount and deferred lender fees accretion		(36,838)	(22,527)
Provision for loan losses		32,551	5,065
Derivative market value adjustments		3,668	32,266
Proceeds from termination of derivative instruments		0	164,079
Payments to clearinghouse - initial and variation margin, net		(4,404)	(210,168)
Loss on sale of loans		1,685	16,776
Loss on investments, net		6,595	73,296
Deferred income tax benefit		(22,707)	(25,403)
Non-cash compensation expense		8,954	11,981
Impairment expense and provision for beneficial interests		36,865	2,588
Decrease in loan and investment accrued interest receivable		168,795	5,613
Decrease in accounts receivable		42,553	64,738
Decrease in other assets, net		48,059	7,069
Decrease in the carrying amount of ROU asset, net		2,857	3,859
(Decrease) increase in accrued interest payable		(10,002)	342
(Decrease) increase in other liabilities		(11,435)	19,132
Decrease in the carrying amount of lease liability		(2,868)	(3,908)
Other		(481)	75
Net cash provided by operating activities		482,357	352,565
Cash flows from investing activities:
Purchases and originations of loans		(611,595)	(556,255)
Purchases of loans from a related party		(104,198)	(467,554)
Net proceeds from loan repayments, claims, and capitalized interest		2,745,084	1,910,379
Proceeds from sale of loans		291,693	341,760
Purchases of available-for-sale securities		(391,018)	(510,804)
Purchases of restricted available-for-sale securities		(23,288)	0
Proceeds from sales of available-for-sale securities		370,896	776,096
Proceeds from sales of restricted available-for-sale securities		1,280	0
Proceeds from beneficial interest in loan securitizations		33,898	23,753
Purchases of other investments and issuance of notes receivable		(287,590)	(179,632)
Proceeds from other investments and repayments of notes receivable		79,095	30,417
Purchases of held-to-maturity debt securities		0	(11,325)
Redemption of held-to-maturity debt securities		11,890	2,893
Purchases of property and equipment		(38,280)	(52,604)
Net cash provided by investing activities		2,077,867	1,307,124
Cash flows from financing activities:
Payments on bonds and notes payable		(3,010,914)	(2,996,916)
Proceeds from issuance of bonds and notes payable		85,037	756,268
Payments of debt issuance costs		(2,191)	(2,233)
Increase in bank deposits, net		327,159	26,731
Decrease in due to customers		(21,185)	(6,422)
Dividends paid		(30,676)	(29,049)
Repurchases of common stock		(82,887)	(4,310)
Proceeds from issuance of common stock		1,424	1,315
Acquisition of noncontrolling interest		(325)	0
Issuance of noncontrolling interests		51,245	32,581
Distribution to noncontrolling interests		(3,587)	(2,519)
Net cash used in financing activities		(2,686,900)	(2,224,554)
Effect of exchange rate changes on cash and restricted cash		203	(206)
Net decrease in cash, cash equivalents, and restricted cash		(126,473)	(565,071)
Cash, cash equivalents, and restricted cash, beginning of period		1,025,491	1,357,616
Cash, cash equivalents, and restricted cash, end of period		899,018	792,545
Supplemental disclosures of cash flow information:
Cash disbursements made for interest		511,247	585,482
Cash disbursements made for income taxes, net of refunds and credits received	[1]	13,441	45,444
Cash disbursements made for operating leases		3,615	5,029
Non-cash operating, investing, and financing activity:
ROU assets obtained in exchange for lease obligations		1,048	18,860
Receipt of beneficial interest in consumer loan securitizations as consideration from sale of loans		13,799	63,878
Receipt of asset-backed investment securities as consideration from sale of loans		20,250	58,182
Transfer of available-for-sale securities to restricted investments		8,262	0
Distribution to noncontrolling interests		46,128	50,508
Issuance of noncontrolling interests		$ 22,095	$ 585
[1]The Company utilized $34.0 million and $49.0 million of federal and state tax credits related primarily to renewable energy during the nine months ended September 30, 2024 and 2023, respectively.

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Federal and state tax credit utilized	$ 34,000	$ 49,000
Cash and cash equivalents:
Total cash and cash equivalents	219,684	187,690
Restricted cash	344,366	445,983
Restricted cash - due to customers	334,968	158,872
Cash, cash equivalents, and restricted cash	$ 899,018	$ 792,545

Basis of Financial Reporting

Basis of Financial Reporting	9 Months Ended
	Sep. 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 September 30, 2024 and for the three and nine months ended September 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 nine months ended September 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	9 Months Ended
	Sep. 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 September 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 $6.4 million and $49.5 million for the three and nine months ended September 30, 2023, respectively. This correction had no impact on previously reported consolidated assets, liabilities, 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 $2.9 million and $6.0 million for the three and nine months ended September 30, 2023, respectively, partially offset by an increase in "net loss attributable to noncontrolling interests" of $1.7 million and $3.0 million for the three and nine months ended September 30, 2023, respectively. The after-tax net income impact to Nelnet, Inc. was a reduction of $1.0 million and $2.3 million for the three and nine months ended September 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	9 Months Ended
	Sep. 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 September 30, 2024 December 31, 2023 Non-Nelnet Bank: Federally insured loans: Stafford and other $ 2,202,590 2,936,174 Consolidation 6,868,152 8,750,033 Total 9,070,742 11,686,207 Private education loans 234,295 277,320 Consumer and other loans 244,552 85,935 Non-Nelnet Bank loans 9,549,589 12,049,462 Nelnet Bank: Private education loans 352,654 360,520 Consumer and other loans 207,218 72,352 Nelnet Bank loans 559,872 432,872 Accrued interest receivable 600,097 764,385 Loan discount and deferred lender fees, net of unamortized loan premiums and deferred origination costs (34,535) (33,872) Allowance for loan losses: Non-Nelnet Bank: Federally insured loans (50,834) (68,453) Private education loans (11,744) (15,750) Consumer and other loans (22,380) (11,742) Non-Nelnet Bank allowance for loan losses (84,958) (95,945) Nelnet Bank: Private education loans (3,670) (3,347) Consumer and other loans (13,514) (5,351) Nelnet Bank allowance for loan losses (17,184) (8,698) $ 10,572,881 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 September 30, 2024 December 31, 2023 Non-Nelnet Bank: Federally insured loans (a) 0.56 % 0.59 % Private education loans 5.01 % 5.68 % Consumer and other loans (b) 9.15 % 13.66 % Nelnet Bank: Private education loans 1.04 % 0.93 % Consumer and other loans (b) 6.52 % 7.40 % (a) As of September 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 20.7% and 21.8%, respectively. (b) Decrease as of September 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 September 30, 2024 and 2023, the Company sold $1.1 million and $61.8 million, respectively, of consumer loans, and recognized losses from such sales of $0.1 million and $1.0 million, respectively. During the nine months ended September 30, 2024 and 2023, the Company sold $335.0 million and $482.0 million, respectively, of FFELP and consumer loans, and recognized losses from such sales of $1.7 million and $16.8 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 September 30, 2024 Non-Nelnet Bank: Federally insured loans $ 54,180 1,247 (4,593) — 50,834 Private education loans 13,065 (126) (1,414) 219 11,744 Consumer and other loans 14,135 10,847 (2,981) 379 22,380 Nelnet Bank: Private education loans 3,559 565 (892) 438 3,670 Consumer and other loans 11,825 5,326 (3,830) 193 13,514 $ 96,764 17,859 (13,710) 1,229 102,142 Three months ended September 30, 2023 Non-Nelnet Bank: Federally insured loans $ 74,061 1,641 (3,659) — 72,043 Private education loans 14,322 3,009 (571) 184 16,944 Consumer and other loans 20,005 (2,302) (4,115) 434 14,022 Nelnet Bank: Federally insured loans 154 (2) (4) — 148 Private education loans 2,905 220 (42) — 3,083 Consumer and other loans 2,816 1,554 (517) — 3,853 $ 114,263 4,120 (8,908) 618 110,093 Nine months ended September 30, 2024 Non-Nelnet Bank: Federally insured loans $ 68,453 (2,593) (15,026) — 50,834 Private education loans 15,750 (392) (4,254) 640 11,744 Consumer and other loans 11,742 17,184 (7,567) 1,021 22,380 Nelnet Bank: Private education loans 3,347 1,576 (1,796) 543 3,670 Consumer and other loans 5,351 16,563 (8,635) 235 13,514 $ 104,643 32,338 (37,278) 2,439 102,142 Nine months ended September 30, 2023 Non-Nelnet Bank: Federally insured loans $ 83,593 4,052 (15,602) — 72,043 Private education loans 15,411 3,249 (2,279) 563 16,944 Consumer and other loans 30,263 (8,073) (9,264) 1,096 14,022 Nelnet Bank: Federally insured loans 170 (15) (7) — 148 Private education loans 2,390 1,350 (657) — 3,083 Consumer and other loans — 4,370 (517) — 3,853 $ 131,827 4,933 (28,326) 1,659 110,093 (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 September 30, 2024 Non-Nelnet Bank Consumer and other loans $ 11,026 (179) 10,847 Three months ended September 30, 2023 Non-Nelnet Bank Consumer and other loans $ 4,082 (6,384) (2,302) Nine months ended September 30, 2024 Non-Nelnet Bank Consumer and other loans $ 30,058 (12,874) 17,184 Nine months ended September 30, 2023 Non-Nelnet Bank Consumer and other loans $ 41,388 (49,461) (8,073) 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Non-Nelnet Bank: Federally insured loans 0.19 % 0.11 % 0.19 % 0.16 % Private education loans 1.97 % 0.61 % 1.89 % 0.94 % Consumer and other loans 4.81 % 9.57 % 4.92 % 4.59 % Nelnet Bank: Federally insured loans — 0.03 % — 0.01 % Private education loans 0.51 % 0.05 % 0.46 % 0.25 % Consumer and other loans 7.28 % 5.69 % 7.49 % 3.00 % 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. Unfunded Loan Commitments As of September 30, 2024 and December 31, 2023, Nelnet Bank had a liability of approximately $371,000 and $158,000, respectively, related to $29.9 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 Nine months ended September 30, September 30, 2024 2023 2024 2023 Provision for loan losses from allowance activity table above $ 17,859 4,120 32,338 4,933 Provision for unfunded loan commitments 252 155 213 132 Provision for loan losses reported in consolidated statements of income $ 18,111 4,275 32,551 5,065 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. Loans in repayment include loans on which borrowers are making interest only or fixed payments, as well as loans that have entered full principal and interest repayment status after any applicable grace period (but, for purposes of the following tables, do not include those loans while they are in forbearance). The following table presents the Company’s loan status and delinquency amounts. As of September 30, 2024 As of December 31, 2023 As of September 30, 2023 Federally insured loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 428,013 4.7 % $ 522,304 4.5 % $ 562,754 4.6 % Loans in forbearance 647,797 7.2 979,588 8.4 906,060 7.4 Loans in repayment status: Loans current 6,702,079 83.8 % 8,416,624 82.6 % 9,014,731 83.2 % Loans delinquent 31-60 days 348,833 4.4 377,108 3.7 441,016 4.1 Loans delinquent 61-90 days 190,379 2.4 254,553 2.5 301,028 2.8 Loans delinquent 91-120 days 148,417 1.9 187,145 1.9 213,245 2.0 Loans delinquent 121-270 days 419,730 5.2 685,829 6.7 648,924 6.0 Loans delinquent 271 days or greater 185,494 2.3 263,056 2.6 211,226 1.9 Total loans in repayment 7,994,932 88.1 100.0 % 10,184,315 87.1 100.0 % 10,830,170 88.0 100.0 % Total federally insured loans 9,070,742 100.0 % 11,686,207 100.0 % 12,298,984 100.0 % Accrued interest receivable 592,250 757,713 798,102 Loan discount, net of unamortized premiums and deferred origination costs (22,807) (28,963) (30,979) Allowance for loan losses (50,834) (68,453) (72,043) Total federally insured loans and accrued interest receivable, net of allowance for loan losses $ 9,589,351 $ 12,346,504 $ 12,994,064 Private education loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 7,504 3.2 % $ 9,475 3.4 % $ 11,373 3.9 % Loans in forbearance 1,979 0.8 2,529 0.9 2,280 0.8 Loans in repayment status: Loans current 218,425 97.2 % 257,639 97.1 % 271,948 97.4 % Loans delinquent 31-60 days 3,013 1.3 3,395 1.3 3,485 1.2 Loans delinquent 61-90 days 1,301 0.6 1,855 0.7 1,424 0.5 Loans delinquent 91 days or greater 2,073 0.9 2,427 0.9 2,494 0.9 Total loans in repayment 224,812 96.0 100.0 % 265,316 95.7 100.0 % 279,351 95.3 100.0 % Total private education loans 234,295 100.0 % 277,320 100.0 % 293,004 100.0 % Accrued interest receivable 2,248 2,653 2,750 Loan discount, net of unamortized premiums (6,772) (8,037) (8,069) Allowance for loan losses (11,744) (15,750) (16,944) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 218,027 $ 256,186 $ 270,741 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ 315 0.1 % $ 146 0.2 % $ 20 0.0 % Loans in repayment status: Loans current 239,128 97.9 % 81,195 94.6 % 137,744 95.9 % Loans delinquent 31-60 days 2,032 0.8 2,035 2.4 1,987 1.4 Loans delinquent 61-90 days 1,515 0.6 1,189 1.4 1,293 0.9 Loans delinquent 91 days or greater 1,562 0.7 1,370 1.6 2,589 1.8 Total loans in repayment 244,237 99.9 100.0 % 85,789 99.8 100.0 % 143,613 100.0 100.0 % Total consumer and other loans 244,552 100.0 % 85,935 100.0 % 143,633 100.0 % Accrued interest receivable 1,115 861 1,716 Loan discount and deferred lender fees, net of unamortized premiums (10,789) (2,474) (180) Allowance for loan losses (22,380) (11,742) (14,022) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 212,498 $ 72,580 $ 131,147 As of September 30, 2024 As of December 31, 2023 As of September 30, 2023 Private education loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 29,396 8.3 % $ 19,089 5.3 % $ 20,537 5.7 % Loans in forbearance 2,364 0.7 1,285 0.4 1,169 0.3 Loans in repayment status: Loans current 318,090 99.2 % 338,448 99.5 % 336,602 99.5 % Loans delinquent 30-59 days 1,075 0.3 839 0.2 691 0.2 Loans delinquent 60-89 days 723 0.2 253 0.1 428 0.1 Loans delinquent 90 days or greater 1,006 0.3 606 0.2 514 0.2 Total loans in repayment 320,894 91.0 100.0 % 340,146 94.3 100.0 % 338,235 94.0 100.0 % Total private education loans 352,654 100.0 % 360,520 100.0 % 359,941 100.0 % Accrued interest receivable 3,098 2,023 1,905 Deferred origination costs, net of unaccreted discount 5,786 5,608 5,578 Allowance for loan losses (3,670) (3,347) (3,083) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 357,868 $ 364,804 $ 364,341 Consumer and other loans - Nelnet Bank (a): Loans in deferment $ 3,073 1.5 % $ 103 0.1 % $ 95 0.2 % Loans in forbearance — — — — 32 0.1 Loans in repayment status: Loans current 198,613 97.3 % 69,584 96.3 % 48,358 97.7 % Loans delinquent 30-59 days 2,251 1.1 1,075 1.5 527 1.1 Loans delinquent 60-89 days 1,497 0.7 941 1.3 306 0.6 Loans delinquent 90 days or greater 1,784 0.9 649 0.9 293 0.6 Total loans in repayment 204,145 98.5 100.0 % 72,249 99.9 100.0 % 49,484 99.7 100.0 % Total consumer and other loans 207,218 100.0 % 72,352 100.0 % 49,611 100.0 % Accrued interest receivable 1,386 575 373 Loan premium, net of unaccreted discount 47 (6) (7) Allowance for loan losses (13,514) (5,351) (3,853) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 195,137 $ 67,570 $ 46,124 (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 September 30, 2024 Nine months ended September 30, 2024 2023 2022 2021 2020 Total FICO at origination: Less than 705 $ 1,090 3,793 4,964 4,302 334 14,483 705 - 734 2,209 9,425 20,475 7,739 432 40,280 735 - 764 2,720 8,973 30,669 13,177 1,260 56,799 765 - 794 2,715 6,368 47,803 24,872 1,197 82,955 Greater than 794 7,079 16,546 70,172 51,544 4,589 149,930 No FICO score available or required (a) 2,553 5,654 — — — 8,207 $ 18,366 50,759 174,083 101,634 7,812 352,654 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 September 30, 2024 Nine months ended September 30, 2024 2023 2022 2021 2020 Prior years Total FICO at origination: Less than 720 $ 18,676 13,850 — 1,274 1,574 1,569 36,943 720 - 769 49,525 25,932 19 6,782 5,559 3,266 91,083 Greater than 769 50,565 16,902 104 4,737 2,156 975 75,439 No FICO score available or required (a) 2,981 438 280 54 — — 3,753 $ 121,747 57,122 403 12,847 9,289 5,810 207,218 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 September 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 September 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 of the Company’s federally insured loans were originated prior to July 1, 2010. Nine months ended September 30, 2024 2023 2022 2021 2020 Prior years Total Private education loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ — — 685 3,364 769 2,686 7,504 Loans in forbearance — — 29 185 422 1,343 1,979 Loans in repayment status: Loans current — 200 4,211 4,737 40,986 168,291 218,425 Loans delinquent 31-60 days — — 21 32 398 2,562 3,013 Loans delinquent 61-90 days — — 8 46 3 1,244 1,301 Loans delinquent 91 days or greater — — — 12 114 1,947 2,073 Total loans in repayment — 200 4,240 4,827 41,501 174,044 224,812 Total private education loans $ — 200 4,954 8,376 42,692 178,073 234,295 Accrued interest receivable 2,248 Loan discount, net of unamortized premiums (6,772) Allowance for loan losses (11,744) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 218,027 Gross charge-offs - nine months ended September 30, 2024 $ — — — 84 208 3,962 4,254 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ — 315 — — — — 315 Loans in repayment status: Loans current 204,317 31,099 3,002 379 254 77 239,128 Loans delinquent 31-60 days 856 960 163 45 6 2 2,032 Loans delinquent 61-90 days 409 951 145 10 — — 1,515 Loans delinquent 91 days or greater 187 841 426 103 — 5 1,562 Total loans in repayment 205,769 33,851 3,736 537 260 84 244,237 Total consumer and other loans $ 205,769 34,166 3,736 537 260 84 244,552 Accrued interest receivable 1,115 Loan discount and deferred lender fees, net of unamortized premiums (10,789) Allowance for loan losses (22,380) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 212,498 Gross charge-offs - nine months ended September 30, 2024 $ 56 5,389 1,793 227 40 62 7,567 Private education loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 9,440 11,529 7,434 587 406 — 29,396 Loans in forbearance 22 139 1,444 759 — — 2,364 Loans in repayment status: Loans current 8,674 37,936 164,277 99,922 7,281 — 318,090 Loans delinquent 30-59 days 133 460 194 163 125 — 1,075 Loans delinquent 60-89 days 53 279 255 136 — — 723 Loans delinquent 90 days or greater 44 416 479 67 — — 1,006 Total loans in repayment 8,904 39,091 165,205 100,288 7,406 — 320,894 Total private education loans $ 18,366 50,759 174,083 101,634 7,812 — 352,654 Accrued interest receivable 3,098 Deferred origination costs, net of unaccreted discount 5,786 Allowance for loan losses (3,670) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 357,868 Gross charge-offs - nine months ended September 30, 2024 $ 48 816 600 285 47 — 1,796 Nine months ended September 30, 2024 2023 2022 2021 2020 Prior years Total Consumer and other loans - Nelnet Bank (a): Loans in deferment $ 3,029 44 — — — — 3,073 Loans in repayment status: Loans current 117,453 53,106 403 12,642 9,249 5,760 198,613 Loans delinquent 30-59 days 787 1,320 — 87 19 38 2,251 Loans delinquent 60-89 days 272 1,081 — 118 21 5 1,497 Loans delinquent 90 days or greater 206 1,571 — — — 7 1,784 Total loans in repayment 118,718 57,078 403 12,847 9,289 5,810 204,145 Total consumer and other loans $ 121,747 57,122 403 12,847 9,289 5,810 207,218 Accrued interest receivable 1,386 Loan premium, net of unaccreted discount 47 Allowance for loan losses (13,514) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 195,137 Gross charge-offs - nine months ended September 30, 2024 $ 503 7,811 — 221 20 80 8,635 (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	9 Months Ended
	Sep. 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 September 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 $ 7,346,522 5.41% - 6.97% 8/26/30 - 9/25/69 Bonds and notes based on auction 70,220 0.00% - 6.46% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 7,416,742 Fixed-rate bonds and notes issued in FFELP loan asset-backed 360,044 1.42% - 3.45% 10/25/67 - 8/27/68 FFELP loan warehouse facilities 889,092 4.93% - 5.19% 1/31/26 / 4/1/26 Consumer loan warehouse facilities 90,277 5.15% / 7.35% 11/14/25 / 8/1/26 Variable-rate bonds and notes issued in private education loan asset-backed securitizations 60,222 6.40% / 7.53% 6/25/49 / 11/25/53 Fixed-rate bonds and notes issued in private education loan asset-backed securitizations 56,599 5.35% / 7.15% 12/28/43 / 11/25/53 Unsecured line of credit — — 9/22/26 Participation agreements 6,434 5.58% - 6.08% 5/4/25 / 1/30/33 Repurchase agreement 108,182 5.54% - 6.75% 11/27/24 / 12/20/24 Other - due to related party 4,669 5.00% 11/15/28 - 11/15/30 8,992,261 Discount on bonds and notes payable and debt issuance costs (53,815) Total $ 8,938,446 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 September 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) $ 800,000 589,303 210,697 1/31/2025 1/31/2026 note (b) $ 42,542 FFELP (c) 375,000 299,789 75,211 4/1/2025 4/1/2026 92 % 25,106 $ 1,175,000 889,092 285,908 $ 67,648 Consumer (d) $ 100,000 5,277 94,723 11/14/2024 11/14/2025 70 % $ 2,364 Consumer (e) 125,000 85,000 40,000 1/1/2026 8/1/2026 60% - 80% 19,681 $ 225,000 90,277 134,723 $ 22,045 (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. On October 3, 2024, this facility was amended to reduce the maximum financing amount from $800 million to $600 million. (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. On September 6, 2024, this facility was amended to reduce the maximum financing amount from $150 million to $100 million. (e) On July 1, 2024, the Company closed on this $125 million consumer loan facility. 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 September 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 September 30, 2024 was $108.2 million. The agreement has various maturity dates through December 20, 2024 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 September 30, 2024, the Company holds $309.5 million (par value) of its own FFELP asset-backed securities. Debt Redemptions Subsequent to September 30, 2024, in October 2024, the Company redeemed $169.3 million of FFELP loan asset-backed debt securities (bonds and notes payable) prior to their maturity. The Company had the ability and intention to redeem these asset- backed debt securities as of September 30, 2024. As such, the remaining unamortized debt discount associated with these bonds as of September 30, 2024 was written-off, resulting in a $5.6 million non-cash expense recognized in September 2024. 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. The expense related to the acceleration of unamortized debt discount costs described above 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	9 Months Ended
	Sep. 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. 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 September 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 September 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 September 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 to hedge exposure to variability in cash flows related to variable rate intercompany deposits. As of September 30, 2024 As of December 31, 2023 Maturity Notional amount Weighted average fixed rate paid by the Company (a) Notional amount Weighted average fixed rate paid by the Company (a) 2028 $ 40,000 3.33 % $ 40,000 3.33 % 2029 25,000 3.37 — — 2030 (b) 50,000 3.06 50,000 3.06 2032 (c) 25,000 4.03 25,000 4.03 2033 (d) 25,000 3.90 25,000 3.90 $ 165,000 3.44 % $ 140,000 3.46 % (a) For all interest rate derivatives, the Company receives monthly or quarterly payments based on SOFR that resets daily. (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 September 30, 2024 As of December 31, 2023 As of September 30, 2024 As of December 31, 2023 Interest rate swaps - Nelnet Bank $ 118 452 2,434 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Settlements: 1:3 basis swaps $ 159 386 773 1,180 Interest rate swaps - floor income hedges 1,200 235 3,583 22,760 Interest rate swaps - Nelnet Bank 281 196 690 279 Total settlements - income 1,640 817 5,046 24,219 Change in fair value: 1:3 basis swaps (125) (464) (710) (253) Interest rate swaps - floor income hedges (9,393) 1,656 (2,165) (35,070) Interest rate swaps - Nelnet Bank (3,647) 1,948 (793) 3,057 Total change in fair value - (expense) income (13,165) 3,140 (3,668) (32,266) Derivative market value adjustments and derivative settlements, net - (expense) income $ (11,525) 3,957 1,378 (8,047)

Investments and Notes Receivabl

Investments and Notes Receivable	9 Months Ended
	Sep. 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 September 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 $ 47,799 2,044 (88) 49,755 16,993 1,069 (93) 17,969 Non-restricted available-for-sale investments (at fair value): Non-Nelnet Bank: FFELP loan $ 203,260 6,396 (1,395) 208,261 271,479 4,883 (5,393) 270,969 Private education loan (a) 247,633 — (20,344) 227,289 281,791 — (28,874) 252,917 Other debt securities 39,685 2,280 — 41,965 41,693 2,020 (1,275) 42,438 Total Non-Nelnet Bank 490,578 8,676 (21,739) 477,515 594,963 6,903 (35,542) 566,324 Nelnet Bank: FFELP loan (b) 226,522 6,011 (299) 232,234 304,555 4,488 (2,286) 306,757 Private education loan 2,063 — — 2,063 17,083 20 (10) 17,093 Other debt securities 214,211 1,214 (1,197) 214,228 49,284 117 (1,641) 47,760 Total Nelnet Bank 442,796 7,225 (1,496) 448,525 370,922 4,625 (3,937) 371,610 Total available-for-sale asset-backed securities $ 933,374 15,901 (23,235) 926,040 965,885 11,528 (39,479) 937,934 Equity securities 70,345 50,907 Total investments at fair value 996,385 988,841 Other Investments and Notes Receivable (not measured at fair value): Held-to-maturity investments Non-Nelnet Bank: Debt securities — 4,700 Nelnet Bank: FFELP loan asset-backed securities (b) 214,380 149,938 Private education loan asset-backed securities 8,100 8,100 Total Nelnet Bank 222,480 158,038 Total held-to-maturity investments 222,480 162,738 Venture capital and funds: Measurement alternative 197,515 194,084 Equity method 107,812 91,464 Total venture capital and funds 305,327 285,548 Real estate: Equity method 125,424 103,811 Investment in ALLO: Voting interest/equity method (c) — 10,693 Preferred membership interest and accrued and unpaid preferred return (d) 195,353 155,047 Total investment in ALLO 195,353 165,740 Beneficial interest in loan securitizations (e): Consumer loans, net of allowance for credit losses of $32,997 as of September 30, 2024 145,238 134,113 Private education loans, net of allowance for credit losses of $901 as of September 30, 2024 55,211 68,372 Federally insured student loans, net of allowance for credit losses of $965 as of September 30, 2024 18,210 22,594 Total beneficial interest in loan securitizations, net of allowance 218,659 225,079 Solar (f) (197,582) (146,040) Notes receivable 27,778 53,747 Tax liens, affordable housing, and other 9,737 7,243 Total investments (not measured at fair value) 907,176 857,866 Total investments and notes receivable $ 1,903,561 $ 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 September 30, 2024, the par value and fair value of the securities subject to this agreement was $144.4 million and $128.5 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 are being 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 $17.3 million of losses during the three months ended September 30, 2024 and 2023, respectively, and losses of $10.7 million and $49.7 million during the nine months ended September 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 September 30, 2024, the outstanding preferred membership interests and accrued and unpaid preferred return of ALLO held by the Company was $184.0 million and $11.4 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 and third quarter of 2024, the Company purchased an additional $29.0 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 $4.8 million and $2.3 million during the three months ended September 30, 2024 and 2023, respectively, and $11.4 million and $6.8 million during the nine months ended September 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, which are accounted for as held-to-maturity beneficial interest investments. As of the latest remittance reports filed by the various trusts prior to or as of September 30, 2024, the Company's ownership correlates to approximately $1.19 billion, $480 million, and $315 million of consumer, private education, and federally insured student loans, respectively, included in these securitizations. An increase in cumulative loss expectations on certain securitizations and loan vintages caused a change in estimate of future cash flows related to certain of the Company's beneficial interest securitization investments. As a result, during the second and third quarter of 2024, the Company recorded a $5.9 million and $29.0 million allowance for credit losses (and related provision expense), respectively, related to these investments. (f) The Company invests in solar tax equity investments. Due to the management and control of each of these investment partnerships, such partnerships that invest in tax equity investments are consolidated on the Company’s consolidated financial statements, with the co-investor’s (syndication partner's) portion being presented as noncontrolling interests. As of September 30, 2024, the Company has funded a total of $543.7 million in solar investments that remain outstanding, which includes $241.4 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 September 30, 2024, the Company has earned a total of $524.6 million of tax credits on those projects that remain outstanding, which includes $238.7 million earned by syndication partners. The solar investment negative carrying value on the consolidated balance sheet of $197.6 million as of September 30, 2024 represents the sum of total tax credits earned on solar projects placed-in-service through September 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 September 30, 2024, excluding the portion owned by syndication partners that is reflected as "noncontrolling interests" on the consolidated balance sheet, was $95.4 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, 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 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 excluding net 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Net losses $ (11,238) (6,456) (11,068) (19,485) Less: net losses attributed to noncontrolling interest investors (syndication partners) 3,936 3,278 5,568 14,706 Net losses, excluding activity attributed to noncontrolling interest investors $ (7,302) (3,178) (5,500) (4,779) As of September 30, 2024, the Company is committed to fund an additional $107.9 million on solar investments, of which $89.5 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 September 30, 2024: As of September 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 $ — 10,258 3,015 34,526 47,799 Fair value — 10,331 3,041 36,383 49,755 Non-Nelnet Bank: FFELP loan — 370 12,466 190,424 203,260 Private education loan — — — 247,633 247,633 Other debt securities — 100 4,000 35,585 39,685 Total Non-Nelnet Bank — 470 16,466 473,642 490,578 Fair value — 501 16,365 460,649 477,515 Nelnet Bank: FFELP loan 47,185 19,619 21,154 138,564 226,522 Private education loan — — — 2,063 2,063 Other debt securities — 41,741 33,154 139,316 214,211 Total Nelnet Bank 47,185 61,360 54,308 279,943 442,796 Fair value 47,499 61,411 54,402 285,213 448,525 Total available-for-sale asset-backed securities at amortized cost $ 47,185 72,088 73,789 788,111 981,173 Total available-for-sale asset-backed securities at fair value $ 47,499 72,243 73,808 782,245 975,795 Held-to-maturity investments Nelnet Bank: FFELP loan asset-backed securities $ — 2,807 1,154 210,419 214,380 Private education loan asset-backed securities — — — 8,100 8,100 Total held-to-maturity investments at amortized cost $ — 2,807 1,154 218,519 222,480 Total held-to-maturity investments at fair value $ — 2,876 1,177 223,533 227,586 Beneficial interest in loan securitizations (a): Amortized cost $ — — — — 218,659 Fair value $ — — — — 232,654 (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 September 30, 2024: Carrying value Gross unrealized gains Gross unrealized losses Fair value Asset-backed and other securities $ 222,480 5,106 — 227,586 Beneficial interest in loan securitizations 218,659 14,154 (159) 232,654 The following table presents securities classified as available-for-sale that have gross unrealized losses at September 30, 2024 and the fair value of such securities as of September 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 September 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 $ (88) 8,160 — — (88) 8,160 Non-Nelnet Bank: FFELP loan (15) 6,508 (1,380) 68,960 (1,395) 75,468 Private education loan — — (20,344) 227,288 (20,344) 227,288 Total Non-Nelnet Bank (15) 6,508 (21,724) 296,248 (21,739) 302,756 Nelnet Bank: FFELP loan (71) 14,372 (228) 14,122 (299) 28,494 Other debt securities (48) 13,081 (1,149) 14,555 (1,197) 27,636 Total Nelnet Bank (119) 27,453 (1,377) 28,677 (1,496) 56,130 Total available-for-sale asset-backed securities $ (222) 42,121 (23,101) 324,925 (23,323) 367,046 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 Nine months ended September 30, September 30, 2024 2023 2024 2023 Gross proceeds from sales $ 105,628 198,548 372,176 776,096 Gross realized gains $ 1,791 1,257 4,362 3,451 Gross realized losses (70) (193) (1,036) (6,452) Net gains (losses) $ 1,721 1,064 3,326 (3,001)

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 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 September 30, 2024 (months) As of As of September 30, 2024 December 31, 2023 Amortizable intangible assets, net: Customer relationships (net of accumulated amortization of $52,706 and $46,573, respectively) 98 $ 36,898 43,031 Trade names (net of accumulated amortization of $186 and $8,268, respectively) 91 584 642 Computer software (net of accumulated amortization of $831 and $574, respectively) 31 889 1,146 Total amortizable intangible assets, net 97 $ 38,371 44,819 The Company recorded amortization expense on its intangible assets of $2.1 million and $5.4 million for the three months ended September 30, 2024 and 2023, respectively, and $6.4 million and $11.6 million during the nine months ended September 30, 2024 and 2023, respectively. The Company will continue to amortize intangible assets over their remaining useful lives. As of September 30, 2024, the Company estimates it will record amortization expense as follows: 2024 (October 1 - December 31) $ 2,043 2025 6,099 2026 6,012 2027 5,714 2028 5,354 2029 and thereafter 13,149 $ 38,371

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2024
Goodwill [Abstract]
Goodwill	Goodwill The following table presents the carrying amount of goodwill as of September 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	9 Months Ended
	Sep. 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 impairment charges and provision for beneficial interests by asset and reportable operating segment recognized by the Company. These expense items 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 September 30, 2024 Investments - beneficial interest in loan securitizations (a) $ — — 28,952 — — — 28,952 Investments - venture capital — — — — — 100 100 $ — — 28,952 — — 100 29,052 Three months ended September 30, 2023 Leases, buildings, and associated improvements (b) $ 296 — — — — 4,678 4,974 Nine months ended September 30, 2024 Investments - beneficial interest in loan securitizations (a) $ — — 34,863 — — — 34,863 Investments - venture capital — — — — — 137 137 Property and equipment - solar facilities (c) — — — — — 1,170 1,170 Other assets - solar inventory (c) — — — — — 695 695 $ — — 34,863 — — 2,002 36,865 Nine months ended September 30, 2023 Leases, buildings, and associated improvements (b) $ 296 — — — — 4,678 4,974 (a) The Company recorded a non-cash allowance for credit losses (and related provision expense) related to the Company's beneficial interest in certain loan securitizations. See note 6 for additional information. (b) In 2023, the Company recorded impairment charges related to operating lease assets and associated leasehold improvements, which included a $2.4 million lease termination fee paid to Union Bank, a related party. The Company recorded this impairment as a result of its on-going evaluation of the use of office space when a large number of associates continued to work from home. (c) In April 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, the Company recognized non-cash impairment charges on certain solar facilities and inventory related to the residential solar operations. Restructure Charges GRNE Solar In April 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) In June 2024, the Company announced a reduction in headcount after the completion of the transfer of direct loan servicing volume to one platform and the required servicing platform enhancements for the Company's new student loan servicing contract with the Department of Education. Approximately 220 associates who work in LSS, including some in related shared services that support LSS, were notified their positions were being eliminated. The Company estimates incurring a charge of $7.1 million related to these staff reductions, of which $2.1 million and $4.1 million was recognized in the second and third quarter of 2024, respectively, which is included in "salaries and benefits" in the consolidated statements of income. The remaining expense will be recognized during the fourth quarter of 2024.

Bank Deposits

Bank Deposits	9 Months Ended
	Sep. 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 September 30, 2024 December 31, 2023 Retail and other savings $ 801,170 520,017 Brokered CDs, net of brokered deposit fees 247,802 203,522 Retail and other CDs, net of issuance fees 21,786 20,060 Total interest-bearing deposits $ 1,070,758 743,599 As of September 30, 2024 and December 31, 2023, Nelnet Bank had intercompany deposits from Nelnet, Inc. and its subsidiaries totaling $77.7 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 September 30, 2024: One year or less $ 995 After one year to two years 148,591 After two years to three years 75,215 After three years to four years 348 After four years to five years 44,439 After five years — Total $ 269,588 Retail and other savings deposits include deposits from Educational 529 College Savings and Health Savings plans, Short Term Federal Investment Trust (STFIT), and commercial 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 September 30, 2024 was $44.5 million, the majority of which are intercompany deposits from Nelnet, Inc. and its subsidiaries.

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Sep. 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 September 30, 2024 2023 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 2,343 45 2,388 43,409 945 44,354 Denominator: Weighted-average common shares outstanding - basic and diluted 35,743,895 686,590 36,430,485 36,699,510 798,563 37,498,073 Earnings per share - basic and diluted $ 0.07 0.07 0.07 1.18 1.18 1.18 Nine months ended September 30, 2024 2023 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 118,549 2,337 120,886 95,685 2,054 97,739 Denominator: Weighted-average common shares outstanding - basic and diluted 35,993,634 709,680 36,703,314 36,650,653 786,934 37,437,587 Earnings per share - basic and diluted $ 3.29 3.29 3.29 2.61 2.61 2.61

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 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 September 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 $ — — 180,571 9,639 — — — 190,211 Investment interest 894 9,734 18,970 12,522 12,415 3,105 (7,368) 50,272 Total interest income 894 9,734 199,541 22,161 12,415 3,105 (7,368) 240,483 Interest expense — — 161,142 11,606 2,245 704 (7,368) 168,328 Net interest income 894 9,734 38,399 10,555 10,170 2,401 — 72,155 Less provision (negative provision) for loan losses — — 11,968 6,143 — — — 18,111 Net interest income after provision for loan losses 894 9,734 26,431 4,412 10,170 2,401 — 54,044 Other income (expense): Loan servicing and systems revenue 108,175 — — — — — — 108,175 Intersegment revenue 5,428 60 — — — — (5,488) — Education technology services and payments revenue — 118,179 — — — — — 118,179 Solar construction revenue — — — — — 19,321 — 19,321 Other, net 690 — 4,918 841 22,370 3,506 — 32,325 Loss on sale of loans — — (107) — — — — (107) Impairment expense and provision for beneficial interests — — (28,952) — — (100) — (29,052) Derivative settlements, net — — 1,359 281 — — — 1,640 Derivative market value adjustments, net — — (9,518) (3,647) — — — (13,165) Total other income (expense), net 114,293 118,239 (32,300) (2,525) 22,370 22,727 (5,488) 237,316 Cost of services: Cost to provide education technology services and payments — 45,273 — — — — — 45,273 Cost to provide solar construction services — — — — — 26,815 — 26,815 Total cost of services — 45,273 — — — 26,815 — 72,088 Operating expenses: Salaries and benefits 76,820 41,053 1,220 2,973 398 23,852 (124) 146,192 Depreciation and amortization 4,854 2,616 — 343 — 5,848 — 13,661 Other expenses 19,663 7,614 2,775 2,570 17,904 11,116 — 61,642 Intersegment expenses, net 18,399 4,604 6,482 759 200 (25,080) (5,364) — Total operating expenses 119,736 55,887 10,477 6,645 18,502 15,736 (5,488) 221,495 Income (loss) before income taxes (4,549) 26,813 (16,346) (4,758) 14,038 (17,423) — (2,223) Income tax (expense) benefit 1,092 (6,450) 3,923 1,143 (3,341) 3,915 — 282 Net income (loss) (3,457) 20,363 (12,423) (3,615) 10,697 (13,508) — (1,941) Net loss (income) attributable to noncontrolling interests — 54 — — (117) 4,392 — 4,329 Net income (loss) attributable to Nelnet, Inc. $ (3,457) 20,417 (12,423) (3,615) 10,580 (9,116) — 2,388 Total assets as of September 30, 2024 $ 202,366 556,897 10,707,442 1,328,808 1,020,732 763,310 (495,427) 14,084,128 Three months ended September 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 $ — — 230,816 5,608 — — — 236,423 Investment interest 1,098 8,934 18,062 9,563 13,021 3,232 (5,783) 48,128 Total interest income 1,098 8,934 248,878 15,171 13,021 3,232 (5,783) 284,551 Interest expense — — 197,393 9,456 5,661 432 (5,783) 207,159 Net interest income 1,098 8,934 51,485 5,715 7,360 2,800 — 77,392 Less provision (negative provision) for loan losses — — 2,348 1,927 — — — 4,275 Net interest income after provision for loan losses 1,098 8,934 49,137 3,788 7,360 2,800 — 73,117 Other income (expense): Loan servicing and systems revenue 127,892 — — — — — — 127,892 Intersegment revenue 6,944 77 — — — — (7,021) — Education technology services and payments revenue — 113,796 — — — — — 113,796 Solar construction revenue — — — — — 6,301 — 6,301 Other, net 687 — 2,776 565 9,861 (16,950) — (3,062) Loss on sale of loans — — (1,022) — — — — (1,022) Impairment expense and provision for beneficial interests (296) — — — — (4,678) — (4,974) Derivative settlements, net — — 621 196 — — — 817 Derivative market value adjustments, net — — 1,192 1,948 — — — 3,140 Total other income (expense), net 135,227 113,873 3,567 2,709 9,861 (15,327) (7,021) 242,888 Cost of services: Cost to provide education technology services and payments — 43,694 — — — — — 43,694 Cost to provide solar construction services — — — — — 7,783 — 7,783 Total cost of services — 43,694 — — — 7,783 — 51,477 Operating expenses: Salaries and benefits 73,310 39,776 1,242 2,520 288 24,731 (663) 141,204 Depreciation and amortization 5,023 3,030 — 259 — 13,522 — 21,835 Other expenses 15,629 8,309 2,952 1,290 7,522 15,670 — 51,370 Intersegment expenses, net 17,894 5,875 7,948 129 191 (25,679) (6,358) — Total operating expenses 111,856 56,990 12,142 4,198 8,001 28,244 (7,021) 214,409 Income (loss) before income taxes 24,469 22,123 40,562 2,299 9,220 (48,554) — 50,119 Income tax (expense) benefit (5,872) (5,307) (9,735) (552) (2,177) 13,131 — (10,512) Net income (loss) 18,597 16,816 30,827 1,747 7,043 (35,423) — 39,607 Net loss (income) attributable to noncontrolling interests — (6) — — (149) 4,902 — 4,747 Net income (loss) attributable to Nelnet, Inc. $ 18,597 16,810 30,827 1,747 6,894 (30,521) — 44,354 Total assets as of September 30, 2023 $ 243,697 444,631 14,111,517 1,089,565 1,096,494 931,853 (719,868) 17,197,889 Nine months ended September 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 $ — — 583,907 25,157 — — — 609,064 Investment interest 4,046 23,315 54,513 33,301 43,910 9,566 (25,565) 143,086 Total interest income 4,046 23,315 638,420 58,458 43,910 9,566 (25,565) 752,150 Interest expense — — 523,678 31,872 7,268 2,114 (25,565) 539,367 Net interest income 4,046 23,315 114,742 26,586 36,642 7,452 — 212,783 Less provision (negative provision) for loan losses — — 14,199 18,352 — — — 32,551 Net interest income after provision for loan losses 4,046 23,315 100,543 8,234 36,642 7,452 — 180,232 Other income (expense): Loan servicing and systems revenue 344,428 — — — — — — 344,428 Intersegment revenue 18,419 166 — — — — (18,585) — Education technology services and payments revenue — 378,627 — — — — — 378,627 Solar construction revenue — — — — — 42,741 — 42,741 Other, net 2,085 — 11,239 1,991 51,013 11,730 — 78,057 Loss on sale of loans — — (1,685) — — — — (1,685) Impairment expense and provision for beneficial interests — — (34,863) — — (2,002) — (36,865) Derivative settlements, net — — 4,356 690 — — — 5,046 Derivative market value adjustments, net — — (2,875) (793) — — — (3,668) Total other income (expense), net 364,932 378,793 (23,828) 1,888 51,013 52,469 (18,585) 806,681 Cost of services: Cost to provide education technology services and payments — 134,106 — — — — — 134,106 Cost to provide solar construction services — — — — — 49,115 — 49,115 Total cost of services — 134,106 — — — 49,115 — 183,221 Operating expenses: Salaries and benefits 224,172 121,956 3,529 8,491 1,129 72,159 (1,735) 429,701 Depreciation and amortization 15,304 8,012 — 944 — 21,312 — 45,572 Other expenses 59,861 23,772 9,985 5,765 41,536 37,359 — 178,278 Intersegment expenses, net 55,955 14,216 21,491 2,252 665 (77,729) (16,850) — Total operating expenses 355,292 167,956 35,005 17,452 43,330 53,101 (18,585) 653,551 Income (loss) before income taxes 13,686 100,046 41,710 (7,330) 44,325 (42,295) — 150,141 Income tax (expense) benefit (3,284) (24,035) (10,010) 1,800 (10,550) 8,426 — (37,653) Net income (loss) 10,402 76,011 31,700 (5,530) 33,775 (33,869) — 112,488 Net loss (income) attributable to noncontrolling interests — 101 — — (366) 8,663 — 8,398 Net income (loss) attributable to Nelnet, Inc. $ 10,402 76,112 31,700 (5,530) 33,409 (25,206) — 120,886 Total assets as of September 30, 2024 $ 202,366 556,897 10,707,442 1,328,808 1,020,732 763,310 (495,427) 14,084,128 Nine months ended September 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 $ — — 689,633 15,079 — — — 704,712 Investment interest 3,193 20,237 47,726 26,013 54,481 8,826 (30,643) 129,835 Total interest income 3,193 20,237 737,359 41,092 54,481 8,826 (30,643) 834,547 Interest expense — — 618,905 24,841 24,860 1,793 (30,643) 639,756 Net interest income 3,193 20,237 118,454 16,251 29,621 7,033 — 194,791 Less provision (negative provision) for loan losses — — (772) 5,837 — — — 5,065 Net interest income after provision for loan losses 3,193 20,237 119,226 10,414 29,621 7,033 — 189,726 Other income (expense): Loan servicing and systems revenue 389,138 — — — — — — 389,138 Intersegment revenue 21,980 198 — — — — (22,178) — Education technology services and payments revenue — 357,258 — — — — — 357,258 Solar construction revenue — — — — — 19,687 — 19,687 Other, net 1,900 — 6,939 1,395 15,087 (52,617) — (27,297) Loss on sale of loans — — (16,776) — — — — (16,776) Impairment expense and provision for beneficial interests (296) — — — — (4,678) — (4,974) Derivative settlements, net — — 23,940 279 — — — 24,219 Derivative market value adjustments, net — — (35,323) 3,057 — — — (32,266) Total other income (expense), net 412,722 357,456 (21,220) 4,731 15,087 (37,608) (22,178) 708,989 Cost of services: Cost to provide education technology services and payments — 131,804 — — — — — 131,804 Cost to provide solar construction services — — — — — 25,204 — 25,204 Total cost of services — 131,804 — — — 25,204 — 157,008 Operating expenses: Salaries and benefits 234,012 116,040 3,093 6,881 717 78,686 (808) 438,620 Depreciation and amortization 14,400 8,424 — 315 — 33,976 — 57,114 Other expenses 42,760 26,063 12,083 3,696 12,223 41,327 — 138,154 Intersegment expenses, net 58,030 17,559 24,789 302 447 (79,757) (21,370) — Total operating expenses 349,202 168,086 39,965 11,194 13,387 74,232 (22,178) 633,888 Income (loss) before income taxes 66,713 77,803 58,041 3,951 31,321 (130,011) — 107,819 Income tax (expense) benefit (16,011) (18,700) (13,930) (913) (7,417) 28,188 — (28,785) Net income (loss) 50,702 59,103 44,111 3,038 23,904 (101,823) — 79,034 Net loss (income) attributable to noncontrolling interests — 113 — — (418) 19,010 — 18,705 Net income (loss) attributable to Nelnet, Inc. $ 50,702 59,216 44,111 3,038 23,486 (82,813) — 97,739 Total assets as of September 30, 2023 $ 243,697 444,631 14,111,517 1,089,565 1,096,494 931,853 (719,868) 17,197,889

Disaggregated Revenue

Disaggregated Revenue	9 Months Ended
	Sep. 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Government loan servicing $ 85,215 100,154 277,705 304,769 Private education and consumer loan servicing 13,057 12,330 38,634 36,556 FFELP loan servicing 2,945 3,304 9,570 10,226 Software services 5,197 9,416 14,617 25,076 Outsourced services 1,761 2,688 3,902 12,511 Loan servicing and systems revenue $ 108,175 127,892 344,428 389,138 Education Technology Services and Payments Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Tuition payment plan services $ 31,659 30,223 104,702 95,235 Payment processing 55,813 50,848 137,926 126,716 Education technology services 30,080 31,793 133,306 132,796 Other 627 932 2,693 2,511 Education technology services and payments revenue $ 118,179 113,796 378,627 357,258 Solar Construction Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Commercial revenue $ 18,764 4,221 39,477 12,426 Residential revenue (a) 557 2,080 3,264 7,261 Solar construction revenue $ 19,321 6,301 42,741 19,687 (a) In April 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 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Reinsurance premiums $ 16,619 6,287 44,250 10,638 Investment activity, net 8,529 (1,003) 7,447 (8,155) ALLO preferred return 4,783 2,299 11,353 6,822 Borrower late fee income 1,741 2,220 7,460 6,635 Administration/sponsor fee income 1,420 1,712 4,448 5,180 Investment advisory services (WRCM) 1,394 1,633 4,427 4,884 Loss from ALLO voting membership interest investment — (17,293) (10,693) (49,676) Loss from solar investments, net (11,238) (6,456) (11,068) (19,485) Other 9,077 7,539 20,433 15,860 Other, net $ 32,325 (3,062) 78,057 (27,297)

Major Customer

Major Customer	9 Months Ended
	Sep. 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 $85.2 million and $100.2 million for the three months ended September 30, 2024 and 2023, respectively, and $277.7 million and $304.8 million for the nine months ended September 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	9 Months Ended
	Sep. 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 September 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 $ 100 975,695 975,795 99 955,804 955,903 Equity securities 186 — 186 73 — 73 Equity securities measured at net asset value (a) 70,159 50,834 Total investments 286 975,695 1,046,140 172 955,804 1,006,810 Derivative instruments — 118 118 — 452 452 Total assets $ 286 975,813 1,046,258 172 956,256 1,007,262 Liabilities: Derivative instruments $ — 2,434 2,434 — 1,976 1,976 Total liabilities $ — 2,434 2,434 — 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. 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. As of September 30, 2024 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 10,502,403 9,972,784 — — 10,502,403 Accrued loan interest receivable 600,097 600,097 — 600,097 — Cash and cash equivalents 219,684 219,684 219,684 — — Investments (at fair value) 1,046,140 1,046,140 286 975,695 — Investments - held-to-maturity asset-backed securities 227,586 222,480 — 227,586 — Notes receivable 27,778 27,778 — 27,778 — Beneficial interest in loan securitizations 232,654 218,659 — — 232,654 Restricted cash 344,366 344,366 344,366 — — Restricted cash – due to customers 334,968 334,968 334,968 — — Derivative instruments 118 118 — 118 — Financial liabilities: Bonds and notes payable 8,901,588 8,938,446 — 8,901,588 — Accrued interest payable 25,389 25,389 — 25,389 — Bank deposits 1,058,023 1,070,758 754,116 303,907 — Due to customers 404,459 404,459 404,459 — — Derivative instruments 2,434 2,434 — 2,434 — 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 asset-backed securities 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 —

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income attributable to Nelnet, Inc.	$ 2,388	$ 44,354	$ 120,886	$ 97,739

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024 shares	Sep. 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 third 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 8/13/2024 12/11/2024 Gift transfer of 100 shares of Class A common stock William J. Munn Corporate Secretary / Chief Governance Officer / General Counsel 8/15/2024 8/15/2025 Sale of 2,500 shares of Class A common stock Jona M. Van Deun Director 8/16/2024 12/14/2024 Sale of 440 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. As previously disclosed, on August 2, 2024, William J. Munn, Corporate Secretary, Chief Governance Officer, and General Counsel, terminated a Rule 10b5-1 Trading Plan he had adopted on May 16, 2024 with respect to the gift of 100 shares of the Company's Class A common stock. Such Rule 10b5-1 Trading Plan was set to expire on September 15, 2024. As of the date of termination of such Rule 10b5-1 Trading Plan, no shares of Class A common stock had been gifted. Such Rule 10b5-1 Trading Plan was terminated due to an administrative error in the original adoption of the plan .
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Jona M. Van Deun [Member]
Trading Arrangements, by Individual
Name	Jona M. Van Deun
Title	Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	8/16/2024
Expiration Date	12/14/2024
Arrangement Duration	120 days
Aggregate Available	440	440
William J. Munn August 13, 2024 Plan [Member] | 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	8/13/2024
Expiration Date	12/11/2024
Arrangement Duration	120 days
Aggregate Available	100	100
William J. Munn August 15, 2024 Plan [Member] | 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	8/15/2024
Expiration Date	8/15/2025
Arrangement Duration	365 days
Aggregate Available	2,500	2,500
William J. Munn August 2, 2024 Terminated Plan [Member] | William J. Munn [Member]
Trading Arrangements, by Individual
Name	William J. Munn
Title	Corporate Secretary, Chief Governance Officer, and General Counsel
Rule 10b5-1 Arrangement Terminated	true
Termination Date	August 2, 2024
Aggregate Available	100	100

Basis of Financial Reporting (P

Basis of Financial Reporting (Policies)	9 Months Ended
	Sep. 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 September 30, 2024 and for the three and nine months ended September 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 nine months ended September 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)	9 Months Ended
	Sep. 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 September 30, 2024 December 31, 2023 Non-Nelnet Bank: Federally insured loans: Stafford and other $ 2,202,590 2,936,174 Consolidation 6,868,152 8,750,033 Total 9,070,742 11,686,207 Private education loans 234,295 277,320 Consumer and other loans 244,552 85,935 Non-Nelnet Bank loans 9,549,589 12,049,462 Nelnet Bank: Private education loans 352,654 360,520 Consumer and other loans 207,218 72,352 Nelnet Bank loans 559,872 432,872 Accrued interest receivable 600,097 764,385 Loan discount and deferred lender fees, net of unamortized loan premiums and deferred origination costs (34,535) (33,872) Allowance for loan losses: Non-Nelnet Bank: Federally insured loans (50,834) (68,453) Private education loans (11,744) (15,750) Consumer and other loans (22,380) (11,742) Non-Nelnet Bank allowance for loan losses (84,958) (95,945) Nelnet Bank: Private education loans (3,670) (3,347) Consumer and other loans (13,514) (5,351) Nelnet Bank allowance for loan losses (17,184) (8,698) $ 10,572,881 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 September 30, 2024 December 31, 2023 Non-Nelnet Bank: Federally insured loans (a) 0.56 % 0.59 % Private education loans 5.01 % 5.68 % Consumer and other loans (b) 9.15 % 13.66 % Nelnet Bank: Private education loans 1.04 % 0.93 % Consumer and other loans (b) 6.52 % 7.40 % (a) As of September 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 20.7% and 21.8%, respectively. (b) Decrease as of September 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Non-Nelnet Bank: Federally insured loans 0.19 % 0.11 % 0.19 % 0.16 % Private education loans 1.97 % 0.61 % 1.89 % 0.94 % Consumer and other loans 4.81 % 9.57 % 4.92 % 4.59 % Nelnet Bank: Federally insured loans — 0.03 % — 0.01 % Private education loans 0.51 % 0.05 % 0.46 % 0.25 % Consumer and other loans 7.28 % 5.69 % 7.49 % 3.00 %
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 September 30, 2024 Non-Nelnet Bank: Federally insured loans $ 54,180 1,247 (4,593) — 50,834 Private education loans 13,065 (126) (1,414) 219 11,744 Consumer and other loans 14,135 10,847 (2,981) 379 22,380 Nelnet Bank: Private education loans 3,559 565 (892) 438 3,670 Consumer and other loans 11,825 5,326 (3,830) 193 13,514 $ 96,764 17,859 (13,710) 1,229 102,142 Three months ended September 30, 2023 Non-Nelnet Bank: Federally insured loans $ 74,061 1,641 (3,659) — 72,043 Private education loans 14,322 3,009 (571) 184 16,944 Consumer and other loans 20,005 (2,302) (4,115) 434 14,022 Nelnet Bank: Federally insured loans 154 (2) (4) — 148 Private education loans 2,905 220 (42) — 3,083 Consumer and other loans 2,816 1,554 (517) — 3,853 $ 114,263 4,120 (8,908) 618 110,093 Nine months ended September 30, 2024 Non-Nelnet Bank: Federally insured loans $ 68,453 (2,593) (15,026) — 50,834 Private education loans 15,750 (392) (4,254) 640 11,744 Consumer and other loans 11,742 17,184 (7,567) 1,021 22,380 Nelnet Bank: Private education loans 3,347 1,576 (1,796) 543 3,670 Consumer and other loans 5,351 16,563 (8,635) 235 13,514 $ 104,643 32,338 (37,278) 2,439 102,142 Nine months ended September 30, 2023 Non-Nelnet Bank: Federally insured loans $ 83,593 4,052 (15,602) — 72,043 Private education loans 15,411 3,249 (2,279) 563 16,944 Consumer and other loans 30,263 (8,073) (9,264) 1,096 14,022 Nelnet Bank: Federally insured loans 170 (15) (7) — 148 Private education loans 2,390 1,350 (657) — 3,083 Consumer and other loans — 4,370 (517) — 3,853 $ 131,827 4,933 (28,326) 1,659 110,093 (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 September 30, 2024 Non-Nelnet Bank Consumer and other loans $ 11,026 (179) 10,847 Three months ended September 30, 2023 Non-Nelnet Bank Consumer and other loans $ 4,082 (6,384) (2,302) Nine months ended September 30, 2024 Non-Nelnet Bank Consumer and other loans $ 30,058 (12,874) 17,184 Nine months ended September 30, 2023 Non-Nelnet Bank Consumer and other loans $ 41,388 (49,461) (8,073) Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Provision for loan losses from allowance activity table above $ 17,859 4,120 32,338 4,933 Provision for unfunded loan commitments 252 155 213 132 Provision for loan losses reported in consolidated statements of income $ 18,111 4,275 32,551 5,065
Schedule of Loan Status and Delinquencies	As of September 30, 2024 As of December 31, 2023 As of September 30, 2023 Federally insured loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 428,013 4.7 % $ 522,304 4.5 % $ 562,754 4.6 % Loans in forbearance 647,797 7.2 979,588 8.4 906,060 7.4 Loans in repayment status: Loans current 6,702,079 83.8 % 8,416,624 82.6 % 9,014,731 83.2 % Loans delinquent 31-60 days 348,833 4.4 377,108 3.7 441,016 4.1 Loans delinquent 61-90 days 190,379 2.4 254,553 2.5 301,028 2.8 Loans delinquent 91-120 days 148,417 1.9 187,145 1.9 213,245 2.0 Loans delinquent 121-270 days 419,730 5.2 685,829 6.7 648,924 6.0 Loans delinquent 271 days or greater 185,494 2.3 263,056 2.6 211,226 1.9 Total loans in repayment 7,994,932 88.1 100.0 % 10,184,315 87.1 100.0 % 10,830,170 88.0 100.0 % Total federally insured loans 9,070,742 100.0 % 11,686,207 100.0 % 12,298,984 100.0 % Accrued interest receivable 592,250 757,713 798,102 Loan discount, net of unamortized premiums and deferred origination costs (22,807) (28,963) (30,979) Allowance for loan losses (50,834) (68,453) (72,043) Total federally insured loans and accrued interest receivable, net of allowance for loan losses $ 9,589,351 $ 12,346,504 $ 12,994,064 Private education loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ 7,504 3.2 % $ 9,475 3.4 % $ 11,373 3.9 % Loans in forbearance 1,979 0.8 2,529 0.9 2,280 0.8 Loans in repayment status: Loans current 218,425 97.2 % 257,639 97.1 % 271,948 97.4 % Loans delinquent 31-60 days 3,013 1.3 3,395 1.3 3,485 1.2 Loans delinquent 61-90 days 1,301 0.6 1,855 0.7 1,424 0.5 Loans delinquent 91 days or greater 2,073 0.9 2,427 0.9 2,494 0.9 Total loans in repayment 224,812 96.0 100.0 % 265,316 95.7 100.0 % 279,351 95.3 100.0 % Total private education loans 234,295 100.0 % 277,320 100.0 % 293,004 100.0 % Accrued interest receivable 2,248 2,653 2,750 Loan discount, net of unamortized premiums (6,772) (8,037) (8,069) Allowance for loan losses (11,744) (15,750) (16,944) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 218,027 $ 256,186 $ 270,741 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ 315 0.1 % $ 146 0.2 % $ 20 0.0 % Loans in repayment status: Loans current 239,128 97.9 % 81,195 94.6 % 137,744 95.9 % Loans delinquent 31-60 days 2,032 0.8 2,035 2.4 1,987 1.4 Loans delinquent 61-90 days 1,515 0.6 1,189 1.4 1,293 0.9 Loans delinquent 91 days or greater 1,562 0.7 1,370 1.6 2,589 1.8 Total loans in repayment 244,237 99.9 100.0 % 85,789 99.8 100.0 % 143,613 100.0 100.0 % Total consumer and other loans 244,552 100.0 % 85,935 100.0 % 143,633 100.0 % Accrued interest receivable 1,115 861 1,716 Loan discount and deferred lender fees, net of unamortized premiums (10,789) (2,474) (180) Allowance for loan losses (22,380) (11,742) (14,022) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 212,498 $ 72,580 $ 131,147 As of September 30, 2024 As of December 31, 2023 As of September 30, 2023 Private education loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 29,396 8.3 % $ 19,089 5.3 % $ 20,537 5.7 % Loans in forbearance 2,364 0.7 1,285 0.4 1,169 0.3 Loans in repayment status: Loans current 318,090 99.2 % 338,448 99.5 % 336,602 99.5 % Loans delinquent 30-59 days 1,075 0.3 839 0.2 691 0.2 Loans delinquent 60-89 days 723 0.2 253 0.1 428 0.1 Loans delinquent 90 days or greater 1,006 0.3 606 0.2 514 0.2 Total loans in repayment 320,894 91.0 100.0 % 340,146 94.3 100.0 % 338,235 94.0 100.0 % Total private education loans 352,654 100.0 % 360,520 100.0 % 359,941 100.0 % Accrued interest receivable 3,098 2,023 1,905 Deferred origination costs, net of unaccreted discount 5,786 5,608 5,578 Allowance for loan losses (3,670) (3,347) (3,083) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 357,868 $ 364,804 $ 364,341 Consumer and other loans - Nelnet Bank (a): Loans in deferment $ 3,073 1.5 % $ 103 0.1 % $ 95 0.2 % Loans in forbearance — — — — 32 0.1 Loans in repayment status: Loans current 198,613 97.3 % 69,584 96.3 % 48,358 97.7 % Loans delinquent 30-59 days 2,251 1.1 1,075 1.5 527 1.1 Loans delinquent 60-89 days 1,497 0.7 941 1.3 306 0.6 Loans delinquent 90 days or greater 1,784 0.9 649 0.9 293 0.6 Total loans in repayment 204,145 98.5 100.0 % 72,249 99.9 100.0 % 49,484 99.7 100.0 % Total consumer and other loans 207,218 100.0 % 72,352 100.0 % 49,611 100.0 % Accrued interest receivable 1,386 575 373 Loan premium, net of unaccreted discount 47 (6) (7) Allowance for loan losses (13,514) (5,351) (3,853) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 195,137 $ 67,570 $ 46,124 (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 September 30, 2024 Nine months ended September 30, 2024 2023 2022 2021 2020 Total FICO at origination: Less than 705 $ 1,090 3,793 4,964 4,302 334 14,483 705 - 734 2,209 9,425 20,475 7,739 432 40,280 735 - 764 2,720 8,973 30,669 13,177 1,260 56,799 765 - 794 2,715 6,368 47,803 24,872 1,197 82,955 Greater than 794 7,079 16,546 70,172 51,544 4,589 149,930 No FICO score available or required (a) 2,553 5,654 — — — 8,207 $ 18,366 50,759 174,083 101,634 7,812 352,654 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 September 30, 2024 Nine months ended September 30, 2024 2023 2022 2021 2020 Prior years Total FICO at origination: Less than 720 $ 18,676 13,850 — 1,274 1,574 1,569 36,943 720 - 769 49,525 25,932 19 6,782 5,559 3,266 91,083 Greater than 769 50,565 16,902 104 4,737 2,156 975 75,439 No FICO score available or required (a) 2,981 438 280 54 — — 3,753 $ 121,747 57,122 403 12,847 9,289 5,810 207,218 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 September 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 of the Company’s federally insured loans were originated prior to July 1, 2010. Nine months ended September 30, 2024 2023 2022 2021 2020 Prior years Total Private education loans - Non-Nelnet Bank: Loans in-school/grace/deferment $ — — 685 3,364 769 2,686 7,504 Loans in forbearance — — 29 185 422 1,343 1,979 Loans in repayment status: Loans current — 200 4,211 4,737 40,986 168,291 218,425 Loans delinquent 31-60 days — — 21 32 398 2,562 3,013 Loans delinquent 61-90 days — — 8 46 3 1,244 1,301 Loans delinquent 91 days or greater — — — 12 114 1,947 2,073 Total loans in repayment — 200 4,240 4,827 41,501 174,044 224,812 Total private education loans $ — 200 4,954 8,376 42,692 178,073 234,295 Accrued interest receivable 2,248 Loan discount, net of unamortized premiums (6,772) Allowance for loan losses (11,744) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 218,027 Gross charge-offs - nine months ended September 30, 2024 $ — — — 84 208 3,962 4,254 Consumer and other loans - Non-Nelnet Bank: Loans in deferment $ — 315 — — — — 315 Loans in repayment status: Loans current 204,317 31,099 3,002 379 254 77 239,128 Loans delinquent 31-60 days 856 960 163 45 6 2 2,032 Loans delinquent 61-90 days 409 951 145 10 — — 1,515 Loans delinquent 91 days or greater 187 841 426 103 — 5 1,562 Total loans in repayment 205,769 33,851 3,736 537 260 84 244,237 Total consumer and other loans $ 205,769 34,166 3,736 537 260 84 244,552 Accrued interest receivable 1,115 Loan discount and deferred lender fees, net of unamortized premiums (10,789) Allowance for loan losses (22,380) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 212,498 Gross charge-offs - nine months ended September 30, 2024 $ 56 5,389 1,793 227 40 62 7,567 Private education loans - Nelnet Bank (a): Loans in-school/grace/deferment $ 9,440 11,529 7,434 587 406 — 29,396 Loans in forbearance 22 139 1,444 759 — — 2,364 Loans in repayment status: Loans current 8,674 37,936 164,277 99,922 7,281 — 318,090 Loans delinquent 30-59 days 133 460 194 163 125 — 1,075 Loans delinquent 60-89 days 53 279 255 136 — — 723 Loans delinquent 90 days or greater 44 416 479 67 — — 1,006 Total loans in repayment 8,904 39,091 165,205 100,288 7,406 — 320,894 Total private education loans $ 18,366 50,759 174,083 101,634 7,812 — 352,654 Accrued interest receivable 3,098 Deferred origination costs, net of unaccreted discount 5,786 Allowance for loan losses (3,670) Total private education loans and accrued interest receivable, net of allowance for loan losses $ 357,868 Gross charge-offs - nine months ended September 30, 2024 $ 48 816 600 285 47 — 1,796 Nine months ended September 30, 2024 2023 2022 2021 2020 Prior years Total Consumer and other loans - Nelnet Bank (a): Loans in deferment $ 3,029 44 — — — — 3,073 Loans in repayment status: Loans current 117,453 53,106 403 12,642 9,249 5,760 198,613 Loans delinquent 30-59 days 787 1,320 — 87 19 38 2,251 Loans delinquent 60-89 days 272 1,081 — 118 21 5 1,497 Loans delinquent 90 days or greater 206 1,571 — — — 7 1,784 Total loans in repayment 118,718 57,078 403 12,847 9,289 5,810 204,145 Total consumer and other loans $ 121,747 57,122 403 12,847 9,289 5,810 207,218 Accrued interest receivable 1,386 Loan premium, net of unaccreted discount 47 Allowance for loan losses (13,514) Total consumer and other loans and accrued interest receivable, net of allowance for loan losses $ 195,137 Gross charge-offs - nine months ended September 30, 2024 $ 503 7,811 — 221 20 80 8,635 (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)	9 Months Ended
	Sep. 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 September 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 $ 7,346,522 5.41% - 6.97% 8/26/30 - 9/25/69 Bonds and notes based on auction 70,220 0.00% - 6.46% 3/22/32 - 11/26/46 Total FFELP variable-rate bonds and notes 7,416,742 Fixed-rate bonds and notes issued in FFELP loan asset-backed 360,044 1.42% - 3.45% 10/25/67 - 8/27/68 FFELP loan warehouse facilities 889,092 4.93% - 5.19% 1/31/26 / 4/1/26 Consumer loan warehouse facilities 90,277 5.15% / 7.35% 11/14/25 / 8/1/26 Variable-rate bonds and notes issued in private education loan asset-backed securitizations 60,222 6.40% / 7.53% 6/25/49 / 11/25/53 Fixed-rate bonds and notes issued in private education loan asset-backed securitizations 56,599 5.35% / 7.15% 12/28/43 / 11/25/53 Unsecured line of credit — — 9/22/26 Participation agreements 6,434 5.58% - 6.08% 5/4/25 / 1/30/33 Repurchase agreement 108,182 5.54% - 6.75% 11/27/24 / 12/20/24 Other - due to related party 4,669 5.00% 11/15/28 - 11/15/30 8,992,261 Discount on bonds and notes payable and debt issuance costs (53,815) Total $ 8,938,446 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 September 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) $ 800,000 589,303 210,697 1/31/2025 1/31/2026 note (b) $ 42,542 FFELP (c) 375,000 299,789 75,211 4/1/2025 4/1/2026 92 % 25,106 $ 1,175,000 889,092 285,908 $ 67,648 Consumer (d) $ 100,000 5,277 94,723 11/14/2024 11/14/2025 70 % $ 2,364 Consumer (e) 125,000 85,000 40,000 1/1/2026 8/1/2026 60% - 80% 19,681 $ 225,000 90,277 134,723 $ 22,045 (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. On October 3, 2024, this facility was amended to reduce the maximum financing amount from $800 million to $600 million. (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. On September 6, 2024, this facility was amended to reduce the maximum financing amount from $150 million to $100 million. (e) On July 1, 2024, the Company closed on this $125 million consumer loan facility.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 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 September 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 September 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 to hedge exposure to variability in cash flows related to variable rate intercompany deposits. As of September 30, 2024 As of December 31, 2023 Maturity Notional amount Weighted average fixed rate paid by the Company (a) Notional amount Weighted average fixed rate paid by the Company (a) 2028 $ 40,000 3.33 % $ 40,000 3.33 % 2029 25,000 3.37 — — 2030 (b) 50,000 3.06 50,000 3.06 2032 (c) 25,000 4.03 25,000 4.03 2033 (d) 25,000 3.90 25,000 3.90 $ 165,000 3.44 % $ 140,000 3.46 % (a) For all interest rate derivatives, the Company receives monthly or quarterly payments based on SOFR that resets daily. (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 September 30, 2024 As of December 31, 2023 As of September 30, 2024 As of December 31, 2023 Interest rate swaps - Nelnet Bank $ 118 452 2,434 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 September 30, 2024 As of December 31, 2023 As of September 30, 2024 As of December 31, 2023 Interest rate swaps - Nelnet Bank $ 118 452 2,434 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Settlements: 1:3 basis swaps $ 159 386 773 1,180 Interest rate swaps - floor income hedges 1,200 235 3,583 22,760 Interest rate swaps - Nelnet Bank 281 196 690 279 Total settlements - income 1,640 817 5,046 24,219 Change in fair value: 1:3 basis swaps (125) (464) (710) (253) Interest rate swaps - floor income hedges (9,393) 1,656 (2,165) (35,070) Interest rate swaps - Nelnet Bank (3,647) 1,948 (793) 3,057 Total change in fair value - (expense) income (13,165) 3,140 (3,668) (32,266) Derivative market value adjustments and derivative settlements, net - (expense) income $ (11,525) 3,957 1,378 (8,047)

Investments and Notes Receiva_2

Investments and Notes Receivable (Tables)	9 Months Ended
	Sep. 30, 2024
Investments [Abstract]
Schedule of Investments and Notes Receivable	"Restricted investments" and “investments and notes receivable” consisted of the following: As of September 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 $ 47,799 2,044 (88) 49,755 16,993 1,069 (93) 17,969 Non-restricted available-for-sale investments (at fair value): Non-Nelnet Bank: FFELP loan $ 203,260 6,396 (1,395) 208,261 271,479 4,883 (5,393) 270,969 Private education loan (a) 247,633 — (20,344) 227,289 281,791 — (28,874) 252,917 Other debt securities 39,685 2,280 — 41,965 41,693 2,020 (1,275) 42,438 Total Non-Nelnet Bank 490,578 8,676 (21,739) 477,515 594,963 6,903 (35,542) 566,324 Nelnet Bank: FFELP loan (b) 226,522 6,011 (299) 232,234 304,555 4,488 (2,286) 306,757 Private education loan 2,063 — — 2,063 17,083 20 (10) 17,093 Other debt securities 214,211 1,214 (1,197) 214,228 49,284 117 (1,641) 47,760 Total Nelnet Bank 442,796 7,225 (1,496) 448,525 370,922 4,625 (3,937) 371,610 Total available-for-sale asset-backed securities $ 933,374 15,901 (23,235) 926,040 965,885 11,528 (39,479) 937,934 Equity securities 70,345 50,907 Total investments at fair value 996,385 988,841 Other Investments and Notes Receivable (not measured at fair value): Held-to-maturity investments Non-Nelnet Bank: Debt securities — 4,700 Nelnet Bank: FFELP loan asset-backed securities (b) 214,380 149,938 Private education loan asset-backed securities 8,100 8,100 Total Nelnet Bank 222,480 158,038 Total held-to-maturity investments 222,480 162,738 Venture capital and funds: Measurement alternative 197,515 194,084 Equity method 107,812 91,464 Total venture capital and funds 305,327 285,548 Real estate: Equity method 125,424 103,811 Investment in ALLO: Voting interest/equity method (c) — 10,693 Preferred membership interest and accrued and unpaid preferred return (d) 195,353 155,047 Total investment in ALLO 195,353 165,740 Beneficial interest in loan securitizations (e): Consumer loans, net of allowance for credit losses of $32,997 as of September 30, 2024 145,238 134,113 Private education loans, net of allowance for credit losses of $901 as of September 30, 2024 55,211 68,372 Federally insured student loans, net of allowance for credit losses of $965 as of September 30, 2024 18,210 22,594 Total beneficial interest in loan securitizations, net of allowance 218,659 225,079 Solar (f) (197,582) (146,040) Notes receivable 27,778 53,747 Tax liens, affordable housing, and other 9,737 7,243 Total investments (not measured at fair value) 907,176 857,866 Total investments and notes receivable $ 1,903,561 $ 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 September 30, 2024, the par value and fair value of the securities subject to this agreement was $144.4 million and $128.5 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 are being 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 $17.3 million of losses during the three months ended September 30, 2024 and 2023, respectively, and losses of $10.7 million and $49.7 million during the nine months ended September 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 September 30, 2024, the outstanding preferred membership interests and accrued and unpaid preferred return of ALLO held by the Company was $184.0 million and $11.4 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 and third quarter of 2024, the Company purchased an additional $29.0 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 $4.8 million and $2.3 million during the three months ended September 30, 2024 and 2023, respectively, and $11.4 million and $6.8 million during the nine months ended September 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, which are accounted for as held-to-maturity beneficial interest investments. As of the latest remittance reports filed by the various trusts prior to or as of September 30, 2024, the Company's ownership correlates to approximately $1.19 billion, $480 million, and $315 million of consumer, private education, and federally insured student loans, respectively, included in these securitizations. An increase in cumulative loss expectations on certain securitizations and loan vintages caused a change in estimate of future cash flows related to certain of the Company's beneficial interest securitization investments. As a result, during the second and third quarter of 2024, the Company recorded a $5.9 million and $29.0 million allowance for credit losses (and related provision expense), respectively, related to these investments. (f) The Company invests in solar tax equity investments. Due to the management and control of each of these investment partnerships, such partnerships that invest in tax equity investments are consolidated on the Company’s consolidated financial statements, with the co-investor’s (syndication partner's) portion being presented as noncontrolling interests. As of September 30, 2024, the Company has funded a total of $543.7 million in solar investments that remain outstanding, which includes $241.4 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 September 30, 2024, the Company has earned a total of $524.6 million of tax credits on those projects that remain outstanding, which includes $238.7 million earned by syndication partners. The solar investment negative carrying value on the consolidated balance sheet of $197.6 million as of September 30, 2024 represents the sum of total tax credits earned on solar projects placed-in-service through September 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 September 30, 2024, excluding the portion owned by syndication partners that is reflected as "noncontrolling interests" on the consolidated balance sheet, was $95.4 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, 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 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 excluding net 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Net losses $ (11,238) (6,456) (11,068) (19,485) Less: net losses attributed to noncontrolling interest investors (syndication partners) 3,936 3,278 5,568 14,706 Net losses, excluding activity attributed to noncontrolling interest investors $ (7,302) (3,178) (5,500) (4,779) As of September 30, 2024, the Company is committed to fund an additional $107.9 million on solar investments, of which $89.5 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 September 30, 2024: As of September 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 $ — 10,258 3,015 34,526 47,799 Fair value — 10,331 3,041 36,383 49,755 Non-Nelnet Bank: FFELP loan — 370 12,466 190,424 203,260 Private education loan — — — 247,633 247,633 Other debt securities — 100 4,000 35,585 39,685 Total Non-Nelnet Bank — 470 16,466 473,642 490,578 Fair value — 501 16,365 460,649 477,515 Nelnet Bank: FFELP loan 47,185 19,619 21,154 138,564 226,522 Private education loan — — — 2,063 2,063 Other debt securities — 41,741 33,154 139,316 214,211 Total Nelnet Bank 47,185 61,360 54,308 279,943 442,796 Fair value 47,499 61,411 54,402 285,213 448,525 Total available-for-sale asset-backed securities at amortized cost $ 47,185 72,088 73,789 788,111 981,173 Total available-for-sale asset-backed securities at fair value $ 47,499 72,243 73,808 782,245 975,795 Held-to-maturity investments Nelnet Bank: FFELP loan asset-backed securities $ — 2,807 1,154 210,419 214,380 Private education loan asset-backed securities — — — 8,100 8,100 Total held-to-maturity investments at amortized cost $ — 2,807 1,154 218,519 222,480 Total held-to-maturity investments at fair value $ — 2,876 1,177 223,533 227,586 Beneficial interest in loan securitizations (a): Amortized cost $ — — — — 218,659 Fair value $ — — — — 232,654 (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 September 30, 2024: Carrying value Gross unrealized gains Gross unrealized losses Fair value Asset-backed and other securities $ 222,480 5,106 — 227,586 Beneficial interest in loan securitizations 218,659 14,154 (159) 232,654
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 September 30, 2024 and the fair value of such securities as of September 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 September 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 $ (88) 8,160 — — (88) 8,160 Non-Nelnet Bank: FFELP loan (15) 6,508 (1,380) 68,960 (1,395) 75,468 Private education loan — — (20,344) 227,288 (20,344) 227,288 Total Non-Nelnet Bank (15) 6,508 (21,724) 296,248 (21,739) 302,756 Nelnet Bank: FFELP loan (71) 14,372 (228) 14,122 (299) 28,494 Other debt securities (48) 13,081 (1,149) 14,555 (1,197) 27,636 Total Nelnet Bank (119) 27,453 (1,377) 28,677 (1,496) 56,130 Total available-for-sale asset-backed securities $ (222) 42,121 (23,101) 324,925 (23,323) 367,046
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 Nine months ended September 30, September 30, 2024 2023 2024 2023 Gross proceeds from sales $ 105,628 198,548 372,176 776,096 Gross realized gains $ 1,791 1,257 4,362 3,451 Gross realized losses (70) (193) (1,036) (6,452) Net gains (losses) $ 1,721 1,064 3,326 (3,001)

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 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 September 30, 2024 (months) As of As of September 30, 2024 December 31, 2023 Amortizable intangible assets, net: Customer relationships (net of accumulated amortization of $52,706 and $46,573, respectively) 98 $ 36,898 43,031 Trade names (net of accumulated amortization of $186 and $8,268, respectively) 91 584 642 Computer software (net of accumulated amortization of $831 and $574, respectively) 31 889 1,146 Total amortizable intangible assets, net 97 $ 38,371 44,819
Schedule of Intangible Assets Future Amortization Expense	The Company will continue to amortize intangible assets over their remaining useful lives. As of September 30, 2024, the Company estimates it will record amortization expense as follows: 2024 (October 1 - December 31) $ 2,043 2025 6,099 2026 6,012 2027 5,714 2028 5,354 2029 and thereafter 13,149 $ 38,371

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill [Abstract]
Schedule of Goodwill	The following table presents the carrying amount of goodwill as of September 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)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Impairment Charges by Asset and Segment	The following table presents the impairment charges and provision for beneficial interests by asset and reportable operating segment recognized by the Company. These expense items 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 September 30, 2024 Investments - beneficial interest in loan securitizations (a) $ — — 28,952 — — — 28,952 Investments - venture capital — — — — — 100 100 $ — — 28,952 — — 100 29,052 Three months ended September 30, 2023 Leases, buildings, and associated improvements (b) $ 296 — — — — 4,678 4,974 Nine months ended September 30, 2024 Investments - beneficial interest in loan securitizations (a) $ — — 34,863 — — — 34,863 Investments - venture capital — — — — — 137 137 Property and equipment - solar facilities (c) — — — — — 1,170 1,170 Other assets - solar inventory (c) — — — — — 695 695 $ — — 34,863 — — 2,002 36,865 Nine months ended September 30, 2023 Leases, buildings, and associated improvements (b) $ 296 — — — — 4,678 4,974 (a) The Company recorded a non-cash allowance for credit losses (and related provision expense) related to the Company's beneficial interest in certain loan securitizations. See note 6 for additional information. (b) In 2023, the Company recorded impairment charges related to operating lease assets and associated leasehold improvements, which included a $2.4 million lease termination fee paid to Union Bank, a related party. The Company recorded this impairment as a result of its on-going evaluation of the use of office space when a large number of associates continued to work from home. (c) In April 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, 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)	9 Months Ended
	Sep. 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 September 30, 2024 December 31, 2023 Retail and other savings $ 801,170 520,017 Brokered CDs, net of brokered deposit fees 247,802 203,522 Retail and other CDs, net of issuance fees 21,786 20,060 Total interest-bearing deposits $ 1,070,758 743,599
Schedule of Certificates of Deposit Maturities	The following table presents certificates of deposit remaining maturities as of September 30, 2024: One year or less $ 995 After one year to two years 148,591 After two years to three years 75,215 After three years to four years 348 After four years to five years 44,439 After five years — Total $ 269,588

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	9 Months Ended
	Sep. 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 September 30, 2024 2023 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 2,343 45 2,388 43,409 945 44,354 Denominator: Weighted-average common shares outstanding - basic and diluted 35,743,895 686,590 36,430,485 36,699,510 798,563 37,498,073 Earnings per share - basic and diluted $ 0.07 0.07 0.07 1.18 1.18 1.18 Nine months ended September 30, 2024 2023 Common shareholders Unvested restricted stock shareholders Total Common shareholders Unvested restricted stock shareholders Total Numerator: Net income attributable to Nelnet, Inc. $ 118,549 2,337 120,886 95,685 2,054 97,739 Denominator: Weighted-average common shares outstanding - basic and diluted 35,993,634 709,680 36,703,314 36,650,653 786,934 37,437,587 Earnings per share - basic and diluted $ 3.29 3.29 3.29 2.61 2.61 2.61

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 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 September 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 $ — — 180,571 9,639 — — — 190,211 Investment interest 894 9,734 18,970 12,522 12,415 3,105 (7,368) 50,272 Total interest income 894 9,734 199,541 22,161 12,415 3,105 (7,368) 240,483 Interest expense — — 161,142 11,606 2,245 704 (7,368) 168,328 Net interest income 894 9,734 38,399 10,555 10,170 2,401 — 72,155 Less provision (negative provision) for loan losses — — 11,968 6,143 — — — 18,111 Net interest income after provision for loan losses 894 9,734 26,431 4,412 10,170 2,401 — 54,044 Other income (expense): Loan servicing and systems revenue 108,175 — — — — — — 108,175 Intersegment revenue 5,428 60 — — — — (5,488) — Education technology services and payments revenue — 118,179 — — — — — 118,179 Solar construction revenue — — — — — 19,321 — 19,321 Other, net 690 — 4,918 841 22,370 3,506 — 32,325 Loss on sale of loans — — (107) — — — — (107) Impairment expense and provision for beneficial interests — — (28,952) — — (100) — (29,052) Derivative settlements, net — — 1,359 281 — — — 1,640 Derivative market value adjustments, net — — (9,518) (3,647) — — — (13,165) Total other income (expense), net 114,293 118,239 (32,300) (2,525) 22,370 22,727 (5,488) 237,316 Cost of services: Cost to provide education technology services and payments — 45,273 — — — — — 45,273 Cost to provide solar construction services — — — — — 26,815 — 26,815 Total cost of services — 45,273 — — — 26,815 — 72,088 Operating expenses: Salaries and benefits 76,820 41,053 1,220 2,973 398 23,852 (124) 146,192 Depreciation and amortization 4,854 2,616 — 343 — 5,848 — 13,661 Other expenses 19,663 7,614 2,775 2,570 17,904 11,116 — 61,642 Intersegment expenses, net 18,399 4,604 6,482 759 200 (25,080) (5,364) — Total operating expenses 119,736 55,887 10,477 6,645 18,502 15,736 (5,488) 221,495 Income (loss) before income taxes (4,549) 26,813 (16,346) (4,758) 14,038 (17,423) — (2,223) Income tax (expense) benefit 1,092 (6,450) 3,923 1,143 (3,341) 3,915 — 282 Net income (loss) (3,457) 20,363 (12,423) (3,615) 10,697 (13,508) — (1,941) Net loss (income) attributable to noncontrolling interests — 54 — — (117) 4,392 — 4,329 Net income (loss) attributable to Nelnet, Inc. $ (3,457) 20,417 (12,423) (3,615) 10,580 (9,116) — 2,388 Total assets as of September 30, 2024 $ 202,366 556,897 10,707,442 1,328,808 1,020,732 763,310 (495,427) 14,084,128 Three months ended September 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 $ — — 230,816 5,608 — — — 236,423 Investment interest 1,098 8,934 18,062 9,563 13,021 3,232 (5,783) 48,128 Total interest income 1,098 8,934 248,878 15,171 13,021 3,232 (5,783) 284,551 Interest expense — — 197,393 9,456 5,661 432 (5,783) 207,159 Net interest income 1,098 8,934 51,485 5,715 7,360 2,800 — 77,392 Less provision (negative provision) for loan losses — — 2,348 1,927 — — — 4,275 Net interest income after provision for loan losses 1,098 8,934 49,137 3,788 7,360 2,800 — 73,117 Other income (expense): Loan servicing and systems revenue 127,892 — — — — — — 127,892 Intersegment revenue 6,944 77 — — — — (7,021) — Education technology services and payments revenue — 113,796 — — — — — 113,796 Solar construction revenue — — — — — 6,301 — 6,301 Other, net 687 — 2,776 565 9,861 (16,950) — (3,062) Loss on sale of loans — — (1,022) — — — — (1,022) Impairment expense and provision for beneficial interests (296) — — — — (4,678) — (4,974) Derivative settlements, net — — 621 196 — — — 817 Derivative market value adjustments, net — — 1,192 1,948 — — — 3,140 Total other income (expense), net 135,227 113,873 3,567 2,709 9,861 (15,327) (7,021) 242,888 Cost of services: Cost to provide education technology services and payments — 43,694 — — — — — 43,694 Cost to provide solar construction services — — — — — 7,783 — 7,783 Total cost of services — 43,694 — — — 7,783 — 51,477 Operating expenses: Salaries and benefits 73,310 39,776 1,242 2,520 288 24,731 (663) 141,204 Depreciation and amortization 5,023 3,030 — 259 — 13,522 — 21,835 Other expenses 15,629 8,309 2,952 1,290 7,522 15,670 — 51,370 Intersegment expenses, net 17,894 5,875 7,948 129 191 (25,679) (6,358) — Total operating expenses 111,856 56,990 12,142 4,198 8,001 28,244 (7,021) 214,409 Income (loss) before income taxes 24,469 22,123 40,562 2,299 9,220 (48,554) — 50,119 Income tax (expense) benefit (5,872) (5,307) (9,735) (552) (2,177) 13,131 — (10,512) Net income (loss) 18,597 16,816 30,827 1,747 7,043 (35,423) — 39,607 Net loss (income) attributable to noncontrolling interests — (6) — — (149) 4,902 — 4,747 Net income (loss) attributable to Nelnet, Inc. $ 18,597 16,810 30,827 1,747 6,894 (30,521) — 44,354 Total assets as of September 30, 2023 $ 243,697 444,631 14,111,517 1,089,565 1,096,494 931,853 (719,868) 17,197,889 Nine months ended September 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 $ — — 583,907 25,157 — — — 609,064 Investment interest 4,046 23,315 54,513 33,301 43,910 9,566 (25,565) 143,086 Total interest income 4,046 23,315 638,420 58,458 43,910 9,566 (25,565) 752,150 Interest expense — — 523,678 31,872 7,268 2,114 (25,565) 539,367 Net interest income 4,046 23,315 114,742 26,586 36,642 7,452 — 212,783 Less provision (negative provision) for loan losses — — 14,199 18,352 — — — 32,551 Net interest income after provision for loan losses 4,046 23,315 100,543 8,234 36,642 7,452 — 180,232 Other income (expense): Loan servicing and systems revenue 344,428 — — — — — — 344,428 Intersegment revenue 18,419 166 — — — — (18,585) — Education technology services and payments revenue — 378,627 — — — — — 378,627 Solar construction revenue — — — — — 42,741 — 42,741 Other, net 2,085 — 11,239 1,991 51,013 11,730 — 78,057 Loss on sale of loans — — (1,685) — — — — (1,685) Impairment expense and provision for beneficial interests — — (34,863) — — (2,002) — (36,865) Derivative settlements, net — — 4,356 690 — — — 5,046 Derivative market value adjustments, net — — (2,875) (793) — — — (3,668) Total other income (expense), net 364,932 378,793 (23,828) 1,888 51,013 52,469 (18,585) 806,681 Cost of services: Cost to provide education technology services and payments — 134,106 — — — — — 134,106 Cost to provide solar construction services — — — — — 49,115 — 49,115 Total cost of services — 134,106 — — — 49,115 — 183,221 Operating expenses: Salaries and benefits 224,172 121,956 3,529 8,491 1,129 72,159 (1,735) 429,701 Depreciation and amortization 15,304 8,012 — 944 — 21,312 — 45,572 Other expenses 59,861 23,772 9,985 5,765 41,536 37,359 — 178,278 Intersegment expenses, net 55,955 14,216 21,491 2,252 665 (77,729) (16,850) — Total operating expenses 355,292 167,956 35,005 17,452 43,330 53,101 (18,585) 653,551 Income (loss) before income taxes 13,686 100,046 41,710 (7,330) 44,325 (42,295) — 150,141 Income tax (expense) benefit (3,284) (24,035) (10,010) 1,800 (10,550) 8,426 — (37,653) Net income (loss) 10,402 76,011 31,700 (5,530) 33,775 (33,869) — 112,488 Net loss (income) attributable to noncontrolling interests — 101 — — (366) 8,663 — 8,398 Net income (loss) attributable to Nelnet, Inc. $ 10,402 76,112 31,700 (5,530) 33,409 (25,206) — 120,886 Total assets as of September 30, 2024 $ 202,366 556,897 10,707,442 1,328,808 1,020,732 763,310 (495,427) 14,084,128 Nine months ended September 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 $ — — 689,633 15,079 — — — 704,712 Investment interest 3,193 20,237 47,726 26,013 54,481 8,826 (30,643) 129,835 Total interest income 3,193 20,237 737,359 41,092 54,481 8,826 (30,643) 834,547 Interest expense — — 618,905 24,841 24,860 1,793 (30,643) 639,756 Net interest income 3,193 20,237 118,454 16,251 29,621 7,033 — 194,791 Less provision (negative provision) for loan losses — — (772) 5,837 — — — 5,065 Net interest income after provision for loan losses 3,193 20,237 119,226 10,414 29,621 7,033 — 189,726 Other income (expense): Loan servicing and systems revenue 389,138 — — — — — — 389,138 Intersegment revenue 21,980 198 — — — — (22,178) — Education technology services and payments revenue — 357,258 — — — — — 357,258 Solar construction revenue — — — — — 19,687 — 19,687 Other, net 1,900 — 6,939 1,395 15,087 (52,617) — (27,297) Loss on sale of loans — — (16,776) — — — — (16,776) Impairment expense and provision for beneficial interests (296) — — — — (4,678) — (4,974) Derivative settlements, net — — 23,940 279 — — — 24,219 Derivative market value adjustments, net — — (35,323) 3,057 — — — (32,266) Total other income (expense), net 412,722 357,456 (21,220) 4,731 15,087 (37,608) (22,178) 708,989 Cost of services: Cost to provide education technology services and payments — 131,804 — — — — — 131,804 Cost to provide solar construction services — — — — — 25,204 — 25,204 Total cost of services — 131,804 — — — 25,204 — 157,008 Operating expenses: Salaries and benefits 234,012 116,040 3,093 6,881 717 78,686 (808) 438,620 Depreciation and amortization 14,400 8,424 — 315 — 33,976 — 57,114 Other expenses 42,760 26,063 12,083 3,696 12,223 41,327 — 138,154 Intersegment expenses, net 58,030 17,559 24,789 302 447 (79,757) (21,370) — Total operating expenses 349,202 168,086 39,965 11,194 13,387 74,232 (22,178) 633,888 Income (loss) before income taxes 66,713 77,803 58,041 3,951 31,321 (130,011) — 107,819 Income tax (expense) benefit (16,011) (18,700) (13,930) (913) (7,417) 28,188 — (28,785) Net income (loss) 50,702 59,103 44,111 3,038 23,904 (101,823) — 79,034 Net loss (income) attributable to noncontrolling interests — 113 — — (418) 19,010 — 18,705 Net income (loss) attributable to Nelnet, Inc. $ 50,702 59,216 44,111 3,038 23,486 (82,813) — 97,739 Total assets as of September 30, 2023 $ 243,697 444,631 14,111,517 1,089,565 1,096,494 931,853 (719,868) 17,197,889

Disaggregated Revenue (Tables)

Disaggregated Revenue (Tables)	9 Months Ended
	Sep. 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Government loan servicing $ 85,215 100,154 277,705 304,769 Private education and consumer loan servicing 13,057 12,330 38,634 36,556 FFELP loan servicing 2,945 3,304 9,570 10,226 Software services 5,197 9,416 14,617 25,076 Outsourced services 1,761 2,688 3,902 12,511 Loan servicing and systems revenue $ 108,175 127,892 344,428 389,138 Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Tuition payment plan services $ 31,659 30,223 104,702 95,235 Payment processing 55,813 50,848 137,926 126,716 Education technology services 30,080 31,793 133,306 132,796 Other 627 932 2,693 2,511 Education technology services and payments revenue $ 118,179 113,796 378,627 357,258 Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Commercial revenue $ 18,764 4,221 39,477 12,426 Residential revenue (a) 557 2,080 3,264 7,261 Solar construction revenue $ 19,321 6,301 42,741 19,687 (a) In April 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 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Reinsurance premiums $ 16,619 6,287 44,250 10,638 Investment activity, net 8,529 (1,003) 7,447 (8,155) ALLO preferred return 4,783 2,299 11,353 6,822 Borrower late fee income 1,741 2,220 7,460 6,635 Administration/sponsor fee income 1,420 1,712 4,448 5,180 Investment advisory services (WRCM) 1,394 1,633 4,427 4,884 Loss from ALLO voting membership interest investment — (17,293) (10,693) (49,676) Loss from solar investments, net (11,238) (6,456) (11,068) (19,485) Other 9,077 7,539 20,433 15,860 Other, net $ 32,325 (3,062) 78,057 (27,297)

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 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 September 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 $ 100 975,695 975,795 99 955,804 955,903 Equity securities 186 — 186 73 — 73 Equity securities measured at net asset value (a) 70,159 50,834 Total investments 286 975,695 1,046,140 172 955,804 1,006,810 Derivative instruments — 118 118 — 452 452 Total assets $ 286 975,813 1,046,258 172 956,256 1,007,262 Liabilities: Derivative instruments $ — 2,434 2,434 — 1,976 1,976 Total liabilities $ — 2,434 2,434 — 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. 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. As of September 30, 2024 Fair value Carrying value Level 1 Level 2 Level 3 Financial assets: Loans receivable $ 10,502,403 9,972,784 — — 10,502,403 Accrued loan interest receivable 600,097 600,097 — 600,097 — Cash and cash equivalents 219,684 219,684 219,684 — — Investments (at fair value) 1,046,140 1,046,140 286 975,695 — Investments - held-to-maturity asset-backed securities 227,586 222,480 — 227,586 — Notes receivable 27,778 27,778 — 27,778 — Beneficial interest in loan securitizations 232,654 218,659 — — 232,654 Restricted cash 344,366 344,366 344,366 — — Restricted cash – due to customers 334,968 334,968 334,968 — — Derivative instruments 118 118 — 118 — Financial liabilities: Bonds and notes payable 8,901,588 8,938,446 — 8,901,588 — Accrued interest payable 25,389 25,389 — 25,389 — Bank deposits 1,058,023 1,070,758 754,116 303,907 — Due to customers 404,459 404,459 404,459 — — Derivative instruments 2,434 2,434 — 2,434 — 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 asset-backed securities 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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Reclassification adjustment	$ 32,325	$ (3,062)	$ 78,057	$ (27,297)
Pre-tax loss from equity investment	(4,329)	(4,747)	(8,398)	(18,705)
Net income attributable to Nelnet, Inc.	2,388	44,354	120,886	97,739
Net income (loss) attributable to parent	3,210,138	3,237,139	3,210,138	3,237,139	$ 3,220,022	$ 3,200,107	$ 3,228,127	$ 3,183,199
Loan Sales | Revision of Prior Period, Reclassification, Adjustment
Variable Interest Entity [Line Items]
Reclassification adjustment		(6,400)		(49,500)
Solar
Variable Interest Entity [Line Items]
Pre-tax loss from equity investment	3,936	3,278	5,568	14,706
Net income attributable to Nelnet, Inc.	$ (7,302)	(3,178)	$ (5,500)	(4,779)
Solar | Revision of Prior Period, Reclassification, Adjustment
Variable Interest Entity [Line Items]
Reclassification adjustment		(2,900)		(6,000)
Pre-tax loss from equity investment		1,700		3,000
Net income attributable to Nelnet, Inc.		$ (1,000)		$ (2,300)
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	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 600,097		$ 764,385
Loan discount, net of unamortized premiums and deferred origination costs	(34,535)		(33,872)
Allowance for loan losses	(102,142)	$ (96,764)	(104,643)	$ (110,093)	$ (114,263)	$ (131,827)
Financing receivable, after allowance for credit loss	10,572,881		13,108,204
Non-Nelnet Bank loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	9,549,589		12,049,462
Allowance for loan losses	(84,958)		(95,945)
Federally insured loans - Non-Nelnet Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	9,070,742		11,686,207	12,298,984
Accrued interest receivable	592,250		757,713	798,102
Allowance for loan losses	(50,834)	(54,180)	(68,453)	(72,043)	(74,061)	(83,593)
Financing receivable, after allowance for credit loss	9,589,351		12,346,504	12,994,064
Federally insured loans - Non-Nelnet Bank | Stafford and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	2,202,590		2,936,174
Federally insured loans - Non-Nelnet Bank | Consolidation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	6,868,152		8,750,033
Private education loans - Non-Nelnet Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	234,295		277,320	293,004
Accrued interest receivable	2,248		2,653	2,750
Allowance for loan losses	(11,744)	(13,065)	(15,750)	(16,944)	(14,322)	(15,411)
Financing receivable, after allowance for credit loss	218,027		256,186	270,741
Consumer loans and other loans - Non-Nelnet Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	244,552		85,935	143,633
Accrued interest receivable	1,115		861	1,716
Allowance for loan losses	(22,380)	(14,135)	(11,742)	(14,022)	(20,005)	(30,263)
Financing receivable, after allowance for credit loss	212,498		72,580	131,147
Nelnet Bank loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	559,872		432,872
Allowance for loan losses	(17,184)		(8,698)
Private education loans - Nelnet Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	352,654		360,520	359,941
Accrued interest receivable	3,098		2,023	1,905
Allowance for loan losses	(3,670)	(3,559)	(3,347)	(3,083)	(2,905)	(2,390)
Financing receivable, after allowance for credit loss	357,868		364,804	364,341
Consumer and other loans - Nelnet Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	207,218		72,352	49,611
Accrued interest receivable	1,386		575	373
Allowance for loan losses	(13,514)	$ (11,825)	(5,351)	(3,853)	$ (2,816)	$ 0
Financing receivable, after allowance for credit loss	$ 195,137		$ 67,570	$ 46,124

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)	Sep. 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	0.56%	0.59%
Allowance for loan losses as a percentage of the risk sharing component, not covered by the federal guaranty	20.70%	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	5.01%	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	9.15%	13.66%
Private education loans - Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Allowance for loan losses as a percentage of the ending balance	1.04%	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	6.52%	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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans sold	$ 1,100	$ 61,800	$ 335,000	$ 482,000
Loss on sale of loan	(107)	$ (1,022)	(1,685)	$ (16,776)
Consumer Portfolio Segment, Unfunded Private Education Loan Commitments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Liability related to unfunded education loan commitments	371		371		$ 158
Unfunded private education loan commitments	$ 29,900		$ 29,900		$ 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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 96,764	$ 114,263	$ 104,643	$ 131,827
Provision (negative provision) for loan losses	17,859	4,120	32,338	4,933
Charge-offs	(13,710)	(8,908)	(37,278)	(28,326)
Recoveries	1,229	618	2,439	1,659
Balance at end of period	102,142	110,093	102,142	110,093
Provision (negative provision) for loan losses	17,859	4,120	32,338	4,933
Federally insured loans - Non-Nelnet Bank
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	54,180	74,061	68,453	83,593
Provision (negative provision) for loan losses	1,247	1,641	(2,593)	4,052
Charge-offs	(4,593)	(3,659)	(15,026)	(15,602)
Recoveries	0	0	0	0
Balance at end of period	50,834	72,043	50,834	72,043
Provision (negative provision) for loan losses	1,247	1,641	(2,593)	4,052
Private education loans - Non-Nelnet Bank
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	13,065	14,322	15,750	15,411
Provision (negative provision) for loan losses	(126)	3,009	(392)	3,249
Charge-offs	(1,414)	(571)	(4,254)	(2,279)
Recoveries	219	184	640	563
Balance at end of period	11,744	16,944	11,744	16,944
Provision (negative provision) for loan losses	(126)	3,009	(392)	3,249
Consumer loans and other loans - Non-Nelnet Bank
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	14,135	20,005	11,742	30,263
Provision (negative provision) for loan losses	10,847	(2,302)	17,184	(8,073)
Charge-offs	(2,981)	(4,115)	(7,567)	(9,264)
Recoveries	379	434	1,021	1,096
Balance at end of period	22,380	14,022	22,380	14,022
Provision for current period	11,026	4,082	30,058	41,388
Loan sale reduction to provision	(179)	(6,384)	(12,874)	(49,461)
Provision (negative provision) for loan losses	10,847	(2,302)	17,184	(8,073)
Private education loans - Nelnet Bank
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	3,559	2,905	3,347	2,390
Provision (negative provision) for loan losses	565	220	1,576	1,350
Charge-offs	(892)	(42)	(1,796)	(657)
Recoveries	438	0	543	0
Balance at end of period	3,670	3,083	3,670	3,083
Provision (negative provision) for loan losses	565	220	1,576	1,350
Consumer and other loans - Nelnet Bank
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	11,825	2,816	5,351	0
Provision (negative provision) for loan losses	5,326	1,554	16,563	4,370
Charge-offs	(3,830)	(517)	(8,635)	(517)
Recoveries	193	0	235	0
Balance at end of period	13,514	3,853	13,514	3,853
Provision (negative provision) for loan losses	$ 5,326	1,554	$ 16,563	4,370
Federally insured loans - Nelnet Bank:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period		154		170
Provision (negative provision) for loan losses		(2)		(15)
Charge-offs		(4)		(7)
Recoveries		0		0
Balance at end of period		148		148
Provision (negative provision) for loan losses		$ (2)		$ (15)

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Federally insured loans - Non-Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	0.19%	0.11%	0.19%	0.16%
Private education loans - Non-Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	1.97%	0.61%	1.89%	0.94%
Consumer loans and other loans - Non-Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	4.81%	9.57%	4.92%	4.59%
Federally insured loans - Nelnet Bank:
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	0%	0.03%	0%	0.01%
Private education loans - Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	0.51%	0.05%	0.46%	0.25%
Consumer and other loans - Nelnet Bank
Financing Receivable, Credit Ratio [Line Items]
Net charge-offs as a percentage of average loans	7.28%	5.69%	7.49%	3%

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Receivables [Abstract]
Provision for loan losses from allowance activity table above	$ 17,859	$ 4,120	$ 32,338	$ 4,933
Provision for unfunded loan commitments	252	155	213	132
Provision for loan losses reported in consolidated statements of income	$ 18,111	$ 4,275	$ 32,551	$ 5,065

Loans and Accrued Interest Re_9

Loans and Accrued Interest Receivable and Allowance for Loan Losses - Loan Status and Delinquencies (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Loans in repayment status:
Accrued interest receivable	$ 600,097		$ 764,385
Allowance for loan losses	(102,142)	$ (96,764)	(104,643)	$ (110,093)	$ (114,263)	$ (131,827)
Financing receivable, after allowance for credit loss	10,572,881		13,108,204
Federally insured loans - Non-Nelnet Bank
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 428,013		$ 522,304	$ 562,754
Loans in-school/grace/deferment, percent	4.70%		4.50%	4.60%
Loans in forbearance	$ 647,797		$ 979,588	$ 906,060
Loans in forbearance, percent	7.20%		8.40%	7.40%
Loans in repayment status:
Loans receivable, gross	$ 9,070,742		$ 11,686,207	$ 12,298,984
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 7,994,932		$ 10,184,315	$ 10,830,170
Loans in repayment, percent	88.10%		87.10%	88%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 592,250		$ 757,713	$ 798,102
Loan premium (discount)	(22,807)		(28,963)	(30,979)
Allowance for loan losses	(50,834)	(54,180)	(68,453)	(72,043)	(74,061)	(83,593)
Financing receivable, after allowance for credit loss	9,589,351		12,346,504	12,994,064
Federally insured loans - Non-Nelnet Bank | Loans current
Loans in repayment status:
Loans receivable, gross	$ 6,702,079		$ 8,416,624	$ 9,014,731
Loans current, percentage	83.80%		82.60%	83.20%
Federally insured loans - Non-Nelnet Bank | Loans delinquent 31-60 days
Loans in repayment status:
Loans receivable, gross	$ 348,833		$ 377,108	$ 441,016
Loans past due, percentage	4.40%		3.70%	4.10%
Federally insured loans - Non-Nelnet Bank | Loans delinquent 61-90 days
Loans in repayment status:
Loans receivable, gross	$ 190,379		$ 254,553	$ 301,028
Loans past due, percentage	2.40%		2.50%	2.80%
Federally insured loans - Non-Nelnet Bank | Loans delinquent 91-120 days
Loans in repayment status:
Loans receivable, gross	$ 148,417		$ 187,145	$ 213,245
Loans past due, percentage	1.90%		1.90%	2%
Federally insured loans - Non-Nelnet Bank | Loans delinquent 121-270 days
Loans in repayment status:
Loans receivable, gross	$ 419,730		$ 685,829	$ 648,924
Loans past due, percentage	5.20%		6.70%	6%
Federally insured loans - Non-Nelnet Bank | Loans delinquent 271 days or greater
Loans in repayment status:
Loans receivable, gross	$ 185,494		$ 263,056	$ 211,226
Loans past due, percentage	2.30%		2.60%	1.90%
Private education loans - Non-Nelnet Bank
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 7,504		$ 9,475	$ 11,373
Loans in-school/grace/deferment, percent	3.20%		3.40%	3.90%
Loans in forbearance	$ 1,979		$ 2,529	$ 2,280
Loans in forbearance, percent	0.80%		0.90%	0.80%
Loans in repayment status:
Loans receivable, gross	$ 234,295		$ 277,320	$ 293,004
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 224,812		$ 265,316	$ 279,351
Loans in repayment, percent	96%		95.70%	95.30%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 2,248		$ 2,653	$ 2,750
Loan premium (discount)	(6,772)		(8,037)	(8,069)
Allowance for loan losses	(11,744)	(13,065)	(15,750)	(16,944)	(14,322)	(15,411)
Financing receivable, after allowance for credit loss	218,027		256,186	270,741
Private education loans - Non-Nelnet Bank | Loans current
Loans in repayment status:
Loans receivable, gross	$ 218,425		$ 257,639	$ 271,948
Loans current, percentage	97.20%		97.10%	97.40%
Private education loans - Non-Nelnet Bank | Loans delinquent 31-60 days
Loans in repayment status:
Loans receivable, gross	$ 3,013		$ 3,395	$ 3,485
Loans past due, percentage	1.30%		1.30%	1.20%
Private education loans - Non-Nelnet Bank | Loans delinquent 61-90 days
Loans in repayment status:
Loans receivable, gross	$ 1,301		$ 1,855	$ 1,424
Loans past due, percentage	0.60%		0.70%	0.50%
Private education loans - Non-Nelnet Bank | Loans delinquent 91 days or greater
Loans in repayment status:
Loans receivable, gross	$ 2,073		$ 2,427	$ 2,494
Loans past due, percentage	0.90%		0.90%	0.90%
Consumer loans and other loans - Non-Nelnet Bank
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 315		$ 146	$ 20
Loans in-school/grace/deferment, percent	0.10%		0.20%	0%
Loans in repayment status:
Loans receivable, gross	$ 244,552		$ 85,935	$ 143,633
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 244,237		$ 85,789	$ 143,613
Loans in repayment, percent	99.90%		99.80%	100%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 1,115		$ 861	$ 1,716
Loan premium (discount)	(10,789)		(2,474)	(180)
Allowance for loan losses	(22,380)	(14,135)	(11,742)	(14,022)	(20,005)	(30,263)
Financing receivable, after allowance for credit loss	212,498		72,580	131,147
Consumer loans and other loans - Non-Nelnet Bank | Loans current
Loans in repayment status:
Loans receivable, gross	$ 239,128		$ 81,195	$ 137,744
Loans current, percentage	97.90%		94.60%	95.90%
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 31-60 days
Loans in repayment status:
Loans receivable, gross	$ 2,032		$ 2,035	$ 1,987
Loans past due, percentage	0.80%		2.40%	1.40%
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 61-90 days
Loans in repayment status:
Loans receivable, gross	$ 1,515		$ 1,189	$ 1,293
Loans past due, percentage	0.60%		1.40%	0.90%
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 91 days or greater
Loans in repayment status:
Loans receivable, gross	$ 1,562		$ 1,370	$ 2,589
Loans past due, percentage	0.70%		1.60%	1.80%
Private education loans - Nelnet Bank
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 29,396		$ 19,089	$ 20,537
Loans in-school/grace/deferment, percent	8.30%		5.30%	5.70%
Loans in forbearance	$ 2,364		$ 1,285	$ 1,169
Loans in forbearance, percent	0.70%		0.40%	0.30%
Loans in repayment status:
Loans receivable, gross	$ 352,654		$ 360,520	$ 359,941
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 320,894		$ 340,146	$ 338,235
Loans in repayment, percent	91%		94.30%	94%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 3,098		$ 2,023	$ 1,905
Loan premium (discount)	5,786		5,608	5,578
Allowance for loan losses	(3,670)	(3,559)	(3,347)	(3,083)	(2,905)	(2,390)
Financing receivable, after allowance for credit loss	357,868		364,804	364,341
Private education loans - Nelnet Bank | Loans current
Loans in repayment status:
Loans receivable, gross	$ 318,090		$ 338,448	$ 336,602
Loans current, percentage	99.20%		99.50%	99.50%
Private education loans - Nelnet Bank | Loans delinquent 30-59 days
Loans in repayment status:
Loans receivable, gross	$ 1,075		$ 839	$ 691
Loans past due, percentage	0.30%		0.20%	0.20%
Private education loans - Nelnet Bank | Loans delinquent 60-89 days
Loans in repayment status:
Loans receivable, gross	$ 723		$ 253	$ 428
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	$ 1,006		$ 606	$ 514
Loans past due, percentage	0.30%		0.20%	0.20%
Consumer and other loans - Nelnet Bank
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	$ 3,073		$ 103	$ 95
Loans in-school/grace/deferment, percent	1.50%		0.10%	0.20%
Loans in forbearance	$ 0		$ 0	$ 32
Loans in forbearance, percent	0%		0%	0.10%
Loans in repayment status:
Loans receivable, gross	$ 207,218		$ 72,352	$ 49,611
Total loans in repayment, percentage	100%		100%	100%
Total loans in repayment	$ 204,145		$ 72,249	$ 49,484
Loans in repayment, percent	98.50%		99.90%	99.70%
Total loans, percent	100%		100%	100%
Accrued interest receivable	$ 1,386		$ 575	$ 373
Loan premium (discount)	47		(6)	(7)
Allowance for loan losses	(13,514)	$ (11,825)	(5,351)	(3,853)	$ (2,816)	$ 0
Financing receivable, after allowance for credit loss	195,137		67,570	46,124
Consumer and other loans - Nelnet Bank | Loans current
Loans in repayment status:
Loans receivable, gross	$ 198,613		$ 69,584	$ 48,358
Loans current, percentage	97.30%		96.30%	97.70%
Consumer and other loans - Nelnet Bank | Loans delinquent 30-59 days
Loans in repayment status:
Loans receivable, gross	$ 2,251		$ 1,075	$ 527
Loans past due, percentage	1.10%		1.50%	1.10%
Consumer and other loans - Nelnet Bank | Loans delinquent 60-89 days
Loans in repayment status:
Loans receivable, gross	$ 1,497		$ 941	$ 306
Loans past due, percentage	0.70%		1.30%	0.60%
Consumer and other loans - Nelnet Bank | Loans delinquent 90 days or greater
Loans in repayment status:
Loans receivable, gross	$ 1,784		$ 649	$ 293
Loans past due, percentage	0.90%		0.90%	0.60%

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	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Private education loans - Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	$ 18,366	$ 46,907
Fiscal year before current fiscal year	50,759	190,466
Fiscal year two years before current fiscal year	174,083	114,278
Fiscal year three years before current fiscal year	101,634	8,869
Fiscal year four years before current fiscal year	7,812
Fiscal year five years before current fiscal year	0
Total loans	352,654	360,520	$ 359,941
Private education loans - Nelnet Bank | Less than 705
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	1,090	3,840
Fiscal year before current fiscal year	3,793	5,495
Fiscal year two years before current fiscal year	4,964	4,647
Fiscal year three years before current fiscal year	4,302	386
Fiscal year four years before current fiscal year	334
Total loans	14,483	14,368
Private education loans - Nelnet Bank | 705 - 734
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	2,209	9,534
Fiscal year before current fiscal year	9,425	21,961
Fiscal year two years before current fiscal year	20,475	8,805
Fiscal year three years before current fiscal year	7,739	525
Fiscal year four years before current fiscal year	432
Total loans	40,280	40,825
Private education loans - Nelnet Bank | 735 - 764
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	2,720	8,648
Fiscal year before current fiscal year	8,973	32,969
Fiscal year two years before current fiscal year	30,669	14,910
Fiscal year three years before current fiscal year	13,177	1,358
Fiscal year four years before current fiscal year	1,260
Total loans	56,799	57,885
Private education loans - Nelnet Bank | 765 - 794
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	2,715	5,776
Fiscal year before current fiscal year	6,368	52,045
Fiscal year two years before current fiscal year	47,803	27,221
Fiscal year three years before current fiscal year	24,872	1,374
Fiscal year four years before current fiscal year	1,197
Total loans	82,955	86,416
Private education loans - Nelnet Bank | Greater than 794
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	7,079	15,057
Fiscal year before current fiscal year	16,546	77,996
Fiscal year two years before current fiscal year	70,172	58,695
Fiscal year three years before current fiscal year	51,544	5,226
Fiscal year four years before current fiscal year	4,589
Total loans	149,930	156,974
Private education loans - Nelnet Bank | No FICO score available or required
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	2,553	4,052
Fiscal year before current fiscal year	5,654	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	8,207	4,052
Consumer and other loans - Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	121,747	71,853
Fiscal year before current fiscal year	57,122	444
Fiscal year two years before current fiscal year	403	55
Fiscal year three years before current fiscal year	12,847	0
Fiscal year four years before current fiscal year	9,289
Fiscal year five years before current fiscal year	5,810	0
Total loans	207,218	72,352	$ 49,611
Consumer and other loans - Nelnet Bank | Less than 720
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	18,676	21,412
Fiscal year before current fiscal year	13,850	0
Fiscal year two years before current fiscal year	0	0
Fiscal year three years before current fiscal year	1,274	0
Fiscal year four years before current fiscal year	1,574
Fiscal year five years before current fiscal year	1,569	0
Total loans	36,943	21,412
Consumer and other loans - Nelnet Bank | 720 - 769
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	49,525	33,571
Fiscal year before current fiscal year	25,932	51
Fiscal year two years before current fiscal year	19	0
Fiscal year three years before current fiscal year	6,782	0
Fiscal year four years before current fiscal year	5,559
Fiscal year five years before current fiscal year	3,266	0
Total loans	91,083	33,622
Consumer and other loans - Nelnet Bank | Greater than 769
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	50,565	16,484
Fiscal year before current fiscal year	16,902	109
Fiscal year two years before current fiscal year	104	0
Fiscal year three years before current fiscal year	4,737	0
Fiscal year four years before current fiscal year	2,156
Fiscal year five years before current fiscal year	975	0
Total loans	75,439	16,593
Consumer and other loans - Nelnet Bank | No FICO score available or required
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	2,981	386
Fiscal year before current fiscal year	438	284
Fiscal year two years before current fiscal year	280	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	$ 3,753	$ 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	9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Accrued interest receivable	$ 600,097		$ 764,385
Allowance for loan losses	(102,142)	$ (96,764)	(104,643)	$ (110,093)	$ (114,263)	$ (131,827)
Financing receivable, after allowance for credit loss	10,572,881		13,108,204
Private education loans - Non-Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	0
2023	200
2022	4,954
2021	8,376
2020	42,692
Prior years	178,073
Total loans	234,295		277,320	293,004
Accrued interest receivable	2,248		2,653	2,750
Loan premium (discount)	(6,772)		(8,037)	(8,069)
Allowance for loan losses	(11,744)	(13,065)	(15,750)	(16,944)	(14,322)	(15,411)
Financing receivable, after allowance for credit loss	218,027		256,186	270,741
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	84
Current period gross charge-offs, four years before current fiscal year	208
Current period gross charge-offs, more than five years before current fiscal year	3,962
Current period gross charge-offs, total	4,254
Private education loans - Non-Nelnet Bank | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	218,425		257,639	271,948
Private education loans - Non-Nelnet Bank | Loans delinquent 31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	3,013		3,395	3,485
Private education loans - Non-Nelnet Bank | Loans delinquent 61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,301		1,855	1,424
Private education loans - Non-Nelnet Bank | Loans delinquent 91 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	2,073		2,427	2,494
Private education loans - Non-Nelnet Bank | Loans in-school/grace/deferment
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	0
2023	0
2022	685
2021	3,364
2020	769
Prior years	2,686
Total loans	7,504
Private education loans - Non-Nelnet Bank | Loans in forbearance
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	0
2023	0
2022	29
2021	185
2020	422
Prior years	1,343
Total loans	1,979
Private education loans - Non-Nelnet Bank | Loans in repayment status:
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	0
2023	200
2022	4,240
2021	4,827
2020	41,501
Prior years	174,044
Total loans	224,812
Private education loans - Non-Nelnet Bank | Loans in repayment status: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	0
2023	200
2022	4,211
2021	4,737
2020	40,986
Prior years	168,291
Total loans	218,425
Private education loans - Non-Nelnet Bank | Loans in repayment status: | Loans delinquent 31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	0
2023	0
2022	21
2021	32
2020	398
Prior years	2,562
Total loans	3,013
Private education loans - Non-Nelnet Bank | Loans in repayment status: | Loans delinquent 61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	0
2023	0
2022	8
2021	46
2020	3
Prior years	1,244
Total loans	1,301
Private education loans - Non-Nelnet Bank | Loans in repayment status: | Loans delinquent 91 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	0
2023	0
2022	0
2021	12
2020	114
Prior years	1,947
Total loans	2,073
Consumer loans and other loans - Non-Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	205,769
2023	34,166
2022	3,736
2021	537
2020	260
Prior years	84
Total loans	244,552		85,935	143,633
Accrued interest receivable	1,115		861	1,716
Loan premium (discount)	(10,789)		(2,474)	(180)
Allowance for loan losses	(22,380)	(14,135)	(11,742)	(14,022)	(20,005)	(30,263)
Financing receivable, after allowance for credit loss	212,498		72,580	131,147
Current period gross charge-offs, current fiscal year	56
Current period gross charge-offs, fiscal year before current fiscal year	5,389
Current period gross charge-offs, two years before current fiscal year	1,793
Current period gross charge-offs, three years before current fiscal year	227
Current period gross charge-offs, four years before current fiscal year	40
Current period gross charge-offs, more than five years before current fiscal year	62
Current period gross charge-offs, total	7,567
Consumer loans and other loans - Non-Nelnet Bank | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	239,128		81,195	137,744
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	2,032		2,035	1,987
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,515		1,189	1,293
Consumer loans and other loans - Non-Nelnet Bank | Loans delinquent 91 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,562		1,370	2,589
Consumer loans and other loans - Non-Nelnet Bank | Loans in-school/grace/deferment
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	0
2023	315
2022	0
2021	0
2020	0
Prior years	0
Total loans	315
Consumer loans and other loans - Non-Nelnet Bank | Loans in repayment status:
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	205,769
2023	33,851
2022	3,736
2021	537
2020	260
Prior years	84
Total loans	244,237
Consumer loans and other loans - Non-Nelnet Bank | Loans in repayment status: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	204,317
2023	31,099
2022	3,002
2021	379
2020	254
Prior years	77
Total loans	239,128
Consumer loans and other loans - Non-Nelnet Bank | Loans in repayment status: | Loans delinquent 31-60 days
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	856
2023	960
2022	163
2021	45
2020	6
Prior years	2
Total loans	2,032
Consumer loans and other loans - Non-Nelnet Bank | Loans in repayment status: | Loans delinquent 61-90 days
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	409
2023	951
2022	145
2021	10
2020	0
Prior years	0
Total loans	1,515
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]
Nine months ended September 30, 2024	187
2023	841
2022	426
2021	103
2020	0
Prior years	5
Total loans	1,562
Private education loans - Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	18,366		46,907
2023	50,759		190,466
2022	174,083		114,278
2021	101,634		8,869
2020	7,812
Prior years	0
Total loans	352,654		360,520	359,941
Accrued interest receivable	3,098		2,023	1,905
Loan premium (discount)	5,786		5,608	5,578
Deferred origination costs, net of unaccreted discount	5,786
Allowance for loan losses	(3,670)	(3,559)	(3,347)	(3,083)	(2,905)	(2,390)
Financing receivable, after allowance for credit loss	357,868		364,804	364,341
Current period gross charge-offs, current fiscal year	48
Current period gross charge-offs, fiscal year before current fiscal year	816
Current period gross charge-offs, two years before current fiscal year	600
Current period gross charge-offs, three years before current fiscal year	285
Current period gross charge-offs, four years before current fiscal year	47
Current period gross charge-offs, more than five years before current fiscal year	0
Current period gross charge-offs, total	1,796
Private education loans - Nelnet Bank | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	318,090		338,448	336,602
Private education loans - Nelnet Bank | Loans delinquent 30-59 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,075		839	691
Private education loans - Nelnet Bank | Loans delinquent 60-89 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	723		253	428
Private education loans - Nelnet Bank | Loans delinquent 90 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,006		606	514
Private education loans - Nelnet Bank | Loans in-school/grace/deferment
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	9,440
2023	11,529
2022	7,434
2021	587
2020	406
Prior years	0
Total loans	29,396
Private education loans - Nelnet Bank | Loans in forbearance
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	22
2023	139
2022	1,444
2021	759
2020	0
Prior years	0
Total loans	2,364
Private education loans - Nelnet Bank | Loans in repayment status:
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	8,904
2023	39,091
2022	165,205
2021	100,288
2020	7,406
Prior years	0
Total loans	320,894
Private education loans - Nelnet Bank | Loans in repayment status: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	8,674
2023	37,936
2022	164,277
2021	99,922
2020	7,281
Prior years	0
Total loans	318,090
Private education loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 30-59 days
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	133
2023	460
2022	194
2021	163
2020	125
Prior years	0
Total loans	1,075
Private education loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 60-89 days
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	53
2023	279
2022	255
2021	136
2020	0
Prior years	0
Total loans	723
Private education loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 90 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	44
2023	416
2022	479
2021	67
2020	0
Prior years	0
Total loans	1,006
Consumer and other loans - Nelnet Bank
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	121,747		71,853
2023	57,122		444
2022	403		55
2021	12,847		0
2020	9,289
Prior years	5,810		0
Total loans	207,218		72,352	49,611
Accrued interest receivable	1,386		575	373
Loan premium (discount)	47		(6)	(7)
Allowance for loan losses	(13,514)	$ (11,825)	(5,351)	(3,853)	$ (2,816)	$ 0
Financing receivable, after allowance for credit loss	195,137		67,570	46,124
Current period gross charge-offs, current fiscal year	503
Current period gross charge-offs, fiscal year before current fiscal year	7,811
Current period gross charge-offs, two years before current fiscal year	0
Current period gross charge-offs, three years before current fiscal year	221
Current period gross charge-offs, four years before current fiscal year	20
Current period gross charge-offs, more than five years before current fiscal year	80
Current period gross charge-offs, total	8,635
Consumer and other loans - Nelnet Bank | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	198,613		69,584	48,358
Consumer and other loans - Nelnet Bank | Loans delinquent 30-59 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	2,251		1,075	527
Consumer and other loans - Nelnet Bank | Loans delinquent 60-89 days
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,497		941	306
Consumer and other loans - Nelnet Bank | Loans delinquent 90 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,784		$ 649	$ 293
Consumer and other loans - Nelnet Bank | Loans in deferment
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	3,029
2023	44
2022	0
2021	0
2020	0
Prior years	0
Total loans	3,073
Consumer and other loans - Nelnet Bank | Loans in repayment status:
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	118,718
2023	57,078
2022	403
2021	12,847
2020	9,289
Prior years	5,810
Total loans	204,145
Consumer and other loans - Nelnet Bank | Loans in repayment status: | Loans current
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	117,453
2023	53,106
2022	403
2021	12,642
2020	9,249
Prior years	5,760
Total loans	198,613
Consumer and other loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 30-59 days
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	787
2023	1,320
2022	0
2021	87
2020	19
Prior years	38
Total loans	2,251
Consumer and other loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 60-89 days
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	272
2023	1,081
2022	0
2021	118
2020	21
Prior years	5
Total loans	1,497
Consumer and other loans - Nelnet Bank | Loans in repayment status: | Loans delinquent 90 days or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Nine months ended September 30, 2024	206
2023	1,571
2022	0
2021	0
2020	0
Prior years	7
Total loans	$ 1,784

Bonds and Notes Payable - Outst

Bonds and Notes Payable - Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 8,992,261	$ 11,918,158
Discount on bonds and notes payable and debt issuance costs	(53,815)	(89,765)
Bonds and notes payable, net	8,938,446	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	$ 6,434	$ 10,063
Repurchase agreement
Debt Instrument [Line Items]
Bonds and notes payable, gross	108,182	208,164
Other - due to related party
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 4,669	5,778
Interest rate	5%
Federally insured | Bonds and notes based on indices
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 7,346,522	9,552,667
Federally insured | Bonds and notes based on auction
Debt Instrument [Line Items]
Bonds and notes payable, gross	70,220	87,360
Federally insured | Variable-rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	7,416,742	9,640,027
Federally insured | Fixed rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	360,044	471,427
Federally insured | Warehouse facilities
Debt Instrument [Line Items]
Bonds and notes payable, gross	889,092	1,398,485
Consumer Loan | Warehouse facilities
Debt Instrument [Line Items]
Bonds and notes payable, gross	90,277	$ 23,691
Interest rate		5.70%
Private education | Variable-rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	60,222	$ 80,393
Private education | Fixed rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable, gross	$ 56,599	$ 80,130
Minimum | Participation agreements
Debt Instrument [Line Items]
Interest rate	5.58%	5.58%
Minimum | Repurchase agreement
Debt Instrument [Line Items]
Interest rate	5.54%	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	5.41%	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	4.93%	5.41%
Minimum | Consumer Loan | Warehouse facilities
Debt Instrument [Line Items]
Interest rate	5.15%
Minimum | Private education | Variable-rate bonds and notes
Debt Instrument [Line Items]
Interest rate	6.40%	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	6.97%	7.47%
Maximum | Federally insured | Bonds and notes based on auction
Debt Instrument [Line Items]
Interest rate	6.46%	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	5.19%	5.70%
Maximum | Consumer Loan | Warehouse facilities
Debt Instrument [Line Items]
Interest rate	7.35%
Maximum | Private education | Variable-rate bonds and notes
Debt Instrument [Line Items]
Interest rate	7.53%	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

9 Months Ended

Sep. 30, 2024

Oct. 03, 2024

Oct. 02, 2024

Sep. 06, 2024

Sep. 05, 2024

Jul. 15, 2024

Jul. 14, 2024

Jul. 01, 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

$ 1,175,000

Amount outstanding

889,092

Amount available

285,908

Advanced as equity support

67,648

FFELP Warehouse Facility Due January 2025

Line of Credit Facility [Line Items]

Maximum financing amount

800,000

$ 800,000

$ 875,000

Amount outstanding

589,303

Amount available

210,697

Advanced as equity support

42,542

FFELP Warehouse Facility Due January 2025 | Subsequent Event

Line of Credit Facility [Line Items]

Maximum financing amount

$ 600,000

$ 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

299,789

Amount available

$ 75,211

Advance rate

92%

Advanced as equity support

$ 25,106

FFELP Warehouse Facility Due November 2024

Line of Credit Facility [Line Items]

Maximum financing amount

$ 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 July 2024

Line of Credit Facility [Line Items]

Maximum financing amount

$ 875,000

$ 950,000

Consumer Loan Warehouse Facility

Line of Credit Facility [Line Items]

Maximum financing amount

$ 225,000

$ 100,000

$ 150,000

$ 150,000

$ 200,000

Amount outstanding

90,277

Amount available

134,723

Advanced as equity support

22,045

Consumer Loan Warehouse Facility Due November 2024

Line of Credit Facility [Line Items]

Maximum financing amount

100,000

Amount outstanding

5,277

Amount available

$ 94,723

Advance rate

70%

Advanced as equity support

$ 2,364

Consumer Loan Warehouse Facility Due January 2026

Line of Credit Facility [Line Items]

Maximum financing amount

125,000

$ 125,000

Amount outstanding

85,000

Amount available

40,000

Advanced as equity support

$ 19,681

Consumer Loan Warehouse Facility Due January 2026 | Minimum

Line of Credit Facility [Line Items]

Advance rate

60%

Consumer Loan Warehouse Facility Due January 2026 | Maximum

Line of Credit Facility [Line Items]

Advance rate

80%

Bonds and Notes Payable - Narra

Bonds and Notes Payable - Narrative (Details) - USD ($)	1 Months Ended
	Oct. 31, 2024	Sep. 30, 2024	Apr. 30, 2023
Debt Instrument [Line Items]
Repurchase agreements, amount collateralized by private education loan asset-backed securities		$ 108,200,000
Par value of asset-based securities		975,795,000
Asset-backed securities
Debt Instrument [Line Items]
Par value of asset-based securities		309,500,000
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		$ 5,600,000	$ 25,900,000
Federal Family Education Loan Program (FFELP) Loan Asset-Backed Securities | Secured Debt | Subsequent Event
Debt Instrument [Line Items]
Payments to extinguish debt	$ 169,300,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Outstanding Basis Swap (Details) - USD ($)	Sep. 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	Sep. 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 ($)	Sep. 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 ($)	Sep. 30, 2024	Dec. 31, 2023
Interest rate swaps - Nelnet Bank
Derivative [Line Items]
Notional amount	$ 165,000,000	$ 140,000,000
Weighted average fixed rate paid by the Company	3.44%	3.46%
2028
Derivative [Line Items]
Notional amount	$ 40,000,000	$ 40,000,000
Weighted average fixed rate paid by the Company	3.33%	3.33%
2029
Derivative [Line Items]
Notional amount	$ 25,000,000	$ 0
Weighted average fixed rate paid by the Company	3.37%	0%
2030
Derivative [Line Items]
Notional amount	$ 50,000,000	$ 50,000,000
Weighted average fixed rate paid by the Company	3.06%	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%	4.03%
2033
Derivative [Line Items]
Notional amount	$ 25,000,000	$ 25,000,000
Weighted average fixed rate paid by the Company	3.90%	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	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Fair value of asset derivatives	$ 118	$ 452
Fair value of liability derivatives	$ 2,434	$ 1,976

Derivative Financial Instrume_8

Derivative Financial Instruments - Derivative Impact on Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	$ 1,640	$ 817	$ 5,046	$ 24,219
Change in fair value	$ (13,165)	3,140	(3,668)	(32,266)
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	$ 1,640	817	5,046	24,219
Derivative market value adjustments and derivative settlements, net - (expense) income	(11,525)	3,957	1,378	(8,047)
1:3 basis swaps
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(125)	(464)	(710)	(253)
1:3 basis swaps | Derivative market value adjustments and derivative settlements, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	159	386	773	1,180
Interest rate swaps - floor income hedges
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(9,393)	1,656	(2,165)	(35,070)
Interest rate swaps - floor income hedges | Derivative market value adjustments and derivative settlements, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	1,200	235	3,583	22,760
Interest rate swaps - Nelnet Bank
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(3,647)	1,948	(793)	3,057
Interest rate swaps - Nelnet Bank | Derivative market value adjustments and derivative settlements, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	$ 281	$ 196	$ 690	$ 279

Investments and Notes Receiva_3

Investments and Notes Receivable - Summary of Investments (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
	May 22, 2024	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Apr. 01, 2024	Dec. 31, 2023
Investments (at fair value):
Amortized cost		$ 981,173			$ 981,173
Fair value		975,795			975,795
Equity securities		70,345			70,345			$ 50,907
Total investments at fair value		996,385			996,385			988,841
Held-to-maturity investments
Fair value		222,480			222,480			162,738
Beneficial interest in securitizations		218,659			218,659			225,079
Notes receivable		27,778			27,778			53,747
Other investments		907,176			907,176			857,866
Total investments and notes receivable		1,903,561			1,903,561			1,846,707
Private education loan asset-backed securities subject to repurchase agreements with third-parties, par value		144,400			144,400
Private education loan asset-backed securities subject to repurchase agreements with third-parties, fair value		128,500			128,500
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		4,783		$ 2,299	11,353	$ 6,822
Investments - beneficial interest in consumer loan securitizations		(28,952)	$ (5,900)		(34,863)
Less: net losses attributed to noncontrolling interest investors (syndication partners)		(4,329)		(4,747)	(8,398)	(18,705)
Net losses, excluding activity attributed to noncontrolling interest investors		2,388		44,354	120,886	97,739
Asset-backed securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Restricted Investments
Investments (at fair value):
Amortized cost		47,799			47,799			16,993
Gross unrealized gains		2,044			2,044			1,069
Gross unrealized losses		(88)			(88)			(93)
Fair value		49,755			49,755			17,969
Asset-Backed Securities, Available-For-Sale, Non-Nelnet And Nelnet Bank
Investments (at fair value):
Amortized cost		933,374			933,374			965,885
Gross unrealized gains		15,901			15,901			11,528
Gross unrealized losses		(23,235)			(23,235)			(39,479)
Fair value		926,040			926,040			937,934
Asset-Backed Securities, Available-For-Sale, Non-Nelnet Bank
Investments (at fair value):
Amortized cost		490,578			490,578			594,963
Gross unrealized gains		8,676			8,676			6,903
Gross unrealized losses		(21,739)			(21,739)			(35,542)
Fair value		477,515			477,515			566,324
Asset-Backed Securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Non-Nelnet Bank
Investments (at fair value):
Amortized cost		203,260			203,260			271,479
Gross unrealized gains		6,396			6,396			4,883
Gross unrealized losses		(1,395)			(1,395)			(5,393)
Fair value		208,261			208,261			270,969
Asset-Backed Securities, Available-For-Sale, Private Education Loans, Non-Nelnet Bank
Investments (at fair value):
Amortized cost		247,633			247,633			281,791
Gross unrealized gains		0			0			0
Gross unrealized losses		(20,344)			(20,344)			(28,874)
Fair value		227,289			227,289			252,917
Asset-Backed Securities, Available-For-Sale, Other, Non-Nelnet Bank
Investments (at fair value):
Amortized cost		39,685			39,685			41,693
Gross unrealized gains		2,280			2,280			2,020
Gross unrealized losses		0			0			(1,275)
Fair value		41,965			41,965			42,438
Asset-Backed Securities, Available-For-Sale, Nelnet Bank
Investments (at fair value):
Amortized cost		442,796			442,796			370,922
Gross unrealized gains		7,225			7,225			4,625
Gross unrealized losses		(1,496)			(1,496)			(3,937)
Fair value		448,525			448,525			371,610
Asset-Backed Securities, Available-For-Sale, Federal Family Education Loan Program (FFELP) Loans, Nelnet Bank
Investments (at fair value):
Amortized cost		226,522			226,522			304,555
Gross unrealized gains		6,011			6,011			4,488
Gross unrealized losses		(299)			(299)			(2,286)
Fair value		232,234			232,234			306,757
Asset-Backed Securities, Available-For-Sale, Private Education Loans, Nelnet Bank
Investments (at fair value):
Amortized cost		2,063			2,063			17,083
Gross unrealized gains		0			0			20
Gross unrealized losses		0			0			(10)
Fair value		2,063			2,063			17,093
Asset-Backed Securities, Available-For-Sale, Other, Nelnet Bank
Investments (at fair value):
Amortized cost		214,211			214,211			49,284
Gross unrealized gains		1,214			1,214			117
Gross unrealized losses		(1,197)			(1,197)			(1,641)
Fair value		214,228			214,228			47,760
Debt Securities, Held-To-Maturity, Non-Nelnet Bank
Held-to-maturity investments
Fair value		0			0			4,700
Held-To-Maturity Investments, Nelnet Bank
Held-to-maturity investments
Fair value		222,480			222,480			158,038
Asset-Backed Securities, Held-To-Maturity, Federal Family Education Loan Program (FFELP) Loans, Nelnet Bank
Held-to-maturity investments
Fair value		214,380			214,380			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		197,515			197,515			194,084
Equity method		107,812			107,812			91,464
Other investments		305,327			305,327			285,548
Real estate
Held-to-maturity investments
Equity method		125,424			125,424			103,811
Partnership Interest
Held-to-maturity investments
Equity method		0			0			10,693
Preferred membership interest and accrued and unpaid preferred return		195,353			195,353			155,047
Other investments		195,353			195,353			165,740
Equity securities, realized loss		0		17,300	10,700	49,700
Partnership Interest | ALLO
Held-to-maturity investments
Preferred membership interest and accrued and unpaid preferred return		184,000			184,000
Equity method investment, accrued and unpaid preferred return		11,400			11,400
Equity method investment, preferred annual, after increase value							$ 155,000
Equity method investment, preferred, additional amount purchased		29,000	$ 29,000
Beneficial interest in consumer loan securitizations
Held-to-maturity investments
Consumer loans, allowance for credit losses		32,997			32,997
Beneficial interest in securitizations		145,238			145,238			134,113
Loans corresponding to beneficial interest		1,190,000			1,190,000
Beneficial interest in private education loan securitizations
Held-to-maturity investments
Consumer loans, allowance for credit losses		901			901
Beneficial interest in securitizations		55,211			55,211			68,372
Loans corresponding to beneficial interest		480,000			480,000
Beneficial interest in federally insured loan securitizations
Held-to-maturity investments
Consumer loans, allowance for credit losses		965			965
Beneficial interest in securitizations		18,210			18,210			22,594
Loans corresponding to beneficial interest		315,000			315,000
Solar
Held-to-maturity investments
Solar		(197,582)			(197,582)			(146,040)
Amount funded or committed to fund		543,700			543,700
Amount funded or committed to fund by partners		241,400			241,400
Tax credits		524,600			524,600
Tax Credits by partners		238,700			238,700
Carrying value		(197,600)			(197,600)
Equity method investment attributable to parent		(95,400)			(95,400)
Net losses		(11,238)		(6,456)	(11,068)	(19,485)
Less: net losses attributed to noncontrolling interest investors (syndication partners)		3,936		3,278	5,568	14,706
Net losses, excluding activity attributed to noncontrolling interest investors		(7,302)		(3,178)	(5,500)	(4,779)
Equity method investment, amount committed to fund		107,900			107,900
Equity method investment, amount committed to fund by partners		89,500			89,500
Tax liens, affordable housing, and other
Held-to-maturity investments
Other investments		$ 9,737			$ 9,737			$ 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		$ 4,800		$ 2,300	$ 11,400	$ 6,800
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	Sep. 30, 2024	Dec. 31, 2023
Available-for-sale asset-backed securities
Amortized cost, 1 year or less	$ 47,185
Amortized cost, after 1 year through 5 years	72,088
Amortized cost, after 5 years through 10 years	73,789
Amortized cost, after 10 years	788,111
Amortized cost	981,173
Fair value
Fair value, 1 year or less	47,499
Fair value, after 1 year through 5 years	72,243
Fair value, after 5 years through 10 years	73,808
Fair value, after 10 years	782,245
Total	975,795
Held-to-maturity investments
Amortized cost, 1 year or less	0
Amortized cost, after 1 year through 5 years	2,807
Amortized cost, after 5 years through 10 years	1,154
Amortized cost, after 10 years	218,519
Total	222,480	$ 162,738
Fair value
Fair value, 1 year or less	0
Fair value, after 1 year through 5 years	2,876
Fair value, after 5 years through 10 years	1,177
Fair value, after 10 years	223,533
Total	227,586
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	218,659	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	232,654
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	10,258
Amortized cost, after 5 years through 10 years	3,015
Amortized cost, after 10 years	34,526
Amortized cost	47,799	16,993
Fair value
Fair value, 1 year or less	0
Fair value, after 1 year through 5 years	10,331
Fair value, after 5 years through 10 years	3,041
Fair value, after 10 years	36,383
Total	49,755	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	470
Amortized cost, after 5 years through 10 years	16,466
Amortized cost, after 10 years	473,642
Amortized cost	490,578	594,963
Fair value
Fair value, 1 year or less	0
Fair value, after 1 year through 5 years	501
Fair value, after 5 years through 10 years	16,365
Fair value, after 10 years	460,649
Total	477,515	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	370
Amortized cost, after 5 years through 10 years	12,466
Amortized cost, after 10 years	190,424
Amortized cost	203,260	271,479
Fair value
Total	208,261	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	247,633
Amortized cost	247,633	281,791
Fair value
Total	227,289	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	35,585
Amortized cost	39,685	41,693
Fair value
Total	41,965	42,438
Asset-Backed Securities, Available-For-Sale, Nelnet Bank
Available-for-sale asset-backed securities
Amortized cost, 1 year or less	47,185
Amortized cost, after 1 year through 5 years	61,360
Amortized cost, after 5 years through 10 years	54,308
Amortized cost, after 10 years	279,943
Amortized cost	442,796	370,922
Fair value
Fair value, 1 year or less	47,499
Fair value, after 1 year through 5 years	61,411
Fair value, after 5 years through 10 years	54,402
Fair value, after 10 years	285,213
Total	448,525	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	47,185
Amortized cost, after 1 year through 5 years	19,619
Amortized cost, after 5 years through 10 years	21,154
Amortized cost, after 10 years	138,564
Amortized cost	226,522	304,555
Fair value
Total	232,234	306,757
Asset-Backed Securities, Available-For-Sale, Private Education Loans, 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	2,063
Amortized cost	2,063	17,083
Fair value
Total	2,063	17,093
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	41,741
Amortized cost, after 5 years through 10 years	33,154
Amortized cost, after 10 years	139,316
Amortized cost	214,211	49,284
Fair value
Total	214,228	47,760
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	2,807
Amortized cost, after 5 years through 10 years	1,154
Amortized cost, after 10 years	210,419
Total	214,380	$ 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 ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments, All Other Investments [Abstract]
Carrying value	$ 222,480	$ 162,738
Gross unrealized gains	5,106
Gross unrealized losses	0
Fair value	227,586
Beneficial interest in loan securitizations, Carrying Value	218,659	$ 225,079
Gross unrealized gains	14,154
Gross unrealized losses	(159)
Beneficial interest in loan securitizations	$ 232,654

Investments and Notes Receiva_6

Investments and Notes Receivable - Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value (Details)	Sep. 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	(222,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(23,101,000)
Total, unrealized loss	(23,323,000)
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	42,121,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	324,925,000
Total, fair value	367,046,000
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	(88,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	0
Total, unrealized loss	(88,000)
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	8,160,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	0
Total, fair value	8,160,000
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	(15,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(21,724,000)
Total, unrealized loss	(21,739,000)
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	6,508,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	296,248,000
Total, fair value	302,756,000
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	(15,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(1,380,000)
Total, unrealized loss	(1,395,000)
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	6,508,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	68,960,000
Total, fair value	75,468,000
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	(20,344,000)
Total, unrealized loss	(20,344,000)
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	227,288,000
Total, fair value	227,288,000
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	(119,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(1,377,000)
Total, unrealized loss	(1,496,000)
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	27,453,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	28,677,000
Total, fair value	56,130,000
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	(71,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(228,000)
Total, unrealized loss	(299,000)
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	14,372,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	14,122,000
Total, fair value	28,494,000
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	(48,000)
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, unrealized loss	(1,149,000)
Total, unrealized loss	(1,197,000)
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	13,081,000
Available-for-sale asset-backed securities, unrealized loss position 12 months or more, fair value	14,555,000
Total, fair value	$ 27,636,000

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments [Abstract]
Gross proceeds from sales	$ 105,628	$ 198,548	$ 372,176	$ 776,096
Gross realized gains	1,791	1,257	4,362	3,451
Gross realized losses	(70)	(193)	(1,036)	(6,452)
Net gains (losses)	$ 1,721	$ 1,064	$ 3,326	$ (3,001)

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	97 months
Finite lived intangible assets	$ 38,371	$ 44,819
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	98 months
Finite lived intangible assets	$ 36,898	43,031
Accumulated amortization	$ 52,706	46,573
Trade names
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	91 months
Finite lived intangible assets	$ 584	642
Accumulated amortization	$ 186	8,268
Computer software
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	31 months
Finite lived intangible assets	$ 889	1,146
Accumulated amortization	$ 831	$ 574

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization of intangible assets	$ 2.1	$ 5.4	$ 6.4	$ 11.6

Intangible Assets - Future Amor

Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2024 (October 1 - December 31)	$ 2,043
2025	6,099
2026	6,012
2027	5,714
2028	5,354
2029 and thereafter	13,149
Finite lived intangible assets, net	$ 38,371	$ 44,819

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	Sep. 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 - Schedule of Impairment Charges by Asset and Segment (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Investments - beneficial interest in loan securitizations	$ 28,952	$ 5,900		$ 34,863
Investments - venture capital	100			137
Impairment expense and provision for beneficial interests	29,052			36,865
Lease Arrangements, Omaha, Nebraska, Termination Fee
Segment Reporting Information [Line Items]
Related party transaction						$ (2,400)
Leases, buildings, and associated improvements
Segment Reporting Information [Line Items]
Impairment, long-lived asset			$ 4,974		$ 4,974
Solar
Segment Reporting Information [Line Items]
Impairment, long-lived asset				1,170
Other assets - solar inventory				695
Operating Segments | Loan Servicing and Systems
Segment Reporting Information [Line Items]
Investments - beneficial interest in loan securitizations	0			0
Investments - venture capital	0			0
Impairment expense and provision for beneficial interests	0			0
Operating Segments | Loan Servicing and Systems | Leases, buildings, and associated improvements
Segment Reporting Information [Line Items]
Impairment, long-lived asset			296		296
Operating Segments | Education Technology Services and Payments
Segment Reporting Information [Line Items]
Investments - beneficial interest in loan securitizations	0			0
Investments - venture capital	0			0
Impairment expense and provision for beneficial interests	0			0
Operating Segments | Education Technology Services and Payments | Leases, buildings, and associated improvements
Segment Reporting Information [Line Items]
Impairment, long-lived asset			0		0
Operating Segments | Asset Generation and Management
Segment Reporting Information [Line Items]
Investments - beneficial interest in loan securitizations	28,952			34,863
Investments - venture capital	0			0
Impairment expense and provision for beneficial interests	28,952			34,863
Operating Segments | Asset Generation and Management | Leases, buildings, and associated improvements
Segment Reporting Information [Line Items]
Impairment, long-lived asset			0		0
Operating Segments | Nelnet Bank
Segment Reporting Information [Line Items]
Investments - beneficial interest in loan securitizations	0			0
Investments - venture capital	0			0
Impairment expense and provision for beneficial interests	0			0
Operating Segments | Nelnet Bank | Leases, buildings, and associated improvements
Segment Reporting Information [Line Items]
Impairment, long-lived asset			0		0
Operating Segments | Solar | Loan Servicing and Systems
Segment Reporting Information [Line Items]
Impairment, long-lived asset				0
Other assets - solar inventory				0
Operating Segments | Solar | Education Technology Services and Payments
Segment Reporting Information [Line Items]
Impairment, long-lived asset				0
Other assets - solar inventory				0
Operating Segments | Solar | Asset Generation and Management
Segment Reporting Information [Line Items]
Impairment, long-lived asset				0
Other assets - solar inventory				0
Operating Segments | Solar | Nelnet Bank
Segment Reporting Information [Line Items]
Impairment, long-lived asset				0
Other assets - solar inventory				0
NFS Other Operating Segments
Segment Reporting Information [Line Items]
Investments - beneficial interest in loan securitizations	0			0
Investments - venture capital	0			0
Impairment expense and provision for beneficial interests	0			0
NFS Other Operating Segments | Leases, buildings, and associated improvements
Segment Reporting Information [Line Items]
Impairment, long-lived asset			0		0
NFS Other Operating Segments | Solar
Segment Reporting Information [Line Items]
Impairment, long-lived asset				0
Other assets - solar inventory				0
Corporate and Other Activities
Segment Reporting Information [Line Items]
Investments - beneficial interest in loan securitizations	0			0
Investments - venture capital	100			137
Impairment expense and provision for beneficial interests	$ 100			2,002
Corporate and Other Activities | Leases, buildings, and associated improvements
Segment Reporting Information [Line Items]
Impairment, long-lived asset			$ 4,678		$ 4,678
Corporate and Other Activities | Solar
Segment Reporting Information [Line Items]
Impairment, long-lived asset				1,170
Other assets - solar inventory				$ 695

Impairment Expense, Provision_4

Impairment Expense, Provision for Beneficial Interests, and Restructure Charges (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2024 USD ($) associate	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Sep. 30, 2024 USD ($) 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		$ 4.1	$ 2.1
Expected restructuring costs	$ 7.1		$ 7.1

Bank Deposits - Interest-Bearin

Bank Deposits - Interest-Bearing Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deposits [Abstract]
Retail and other savings	$ 801,170	$ 520,017
Brokered CDs, net of brokered deposit fees	247,802	203,522
Retail and other CDs, net of issuance fees	21,786	20,060
Total interest-bearing deposits	$ 1,070,758	$ 743,599

Bank Deposits - Narrative (Deta

Bank Deposits - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Financial Instruments Owned and Pledged as Collateral [Line Items]
Intercompany deposits	$ 77,700	$ 104,000
Restricted cash	344,366	$ 488,723	$ 445,983	$ 945,159
Deposits exceeding the FDIC insurance limits	44,500
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	Sep. 30, 2024 USD ($)
Deposits [Abstract]
One year or less	$ 995
After one year to two years	148,591
After two years to three years	75,215
After three years to four years	348
After four years to five years	44,439
After five years	0
Total	$ 269,588

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc., basic	$ 2,388	$ 44,354	$ 120,886	$ 97,739
Net income attributable to Nelnet, Inc., diluted	$ 2,388	$ 44,354	$ 120,886	$ 97,739
Weighted-average common shares outstanding - basic (in shares)	36,430,485	37,498,073	36,703,314	37,437,587
Weighted-average common shares outstanding - diluted (in shares)	36,430,485	37,498,073	36,703,314	37,437,587
Earnings per share - basic (in dollars per share)	$ 0.07	$ 1.18	$ 3.29	$ 2.61
Earnings per share - diluted (in dollars per share)	$ 0.07	$ 1.18	$ 3.29	$ 2.61
Common shareholders
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc., basic	$ 2,343	$ 43,409	$ 118,549	$ 95,685
Net income attributable to Nelnet, Inc., diluted	$ 2,343	$ 43,409	$ 118,549	$ 95,685
Weighted-average common shares outstanding - basic (in shares)	35,743,895	36,699,510	35,993,634	36,650,653
Weighted-average common shares outstanding - diluted (in shares)	35,743,895	36,699,510	35,993,634	36,650,653
Earnings per share - basic (in dollars per share)	$ 0.07	$ 1.18	$ 3.29	$ 2.61
Earnings per share - diluted (in dollars per share)	$ 0.07	$ 1.18	$ 3.29	$ 2.61
Unvested restricted stock shareholders
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc., basic	$ 45	$ 945	$ 2,337	$ 2,054
Net income attributable to Nelnet, Inc., diluted	$ 45	$ 945	$ 2,337	$ 2,054
Weighted-average common shares outstanding - basic (in shares)	686,590	798,563	709,680	786,934
Weighted-average common shares outstanding - diluted (in shares)	686,590	798,563	709,680	786,934
Earnings per share - basic (in dollars per share)	$ 0.07	$ 1.18	$ 3.29	$ 2.61
Earnings per share - diluted (in dollars per share)	$ 0.07	$ 1.18	$ 3.29	$ 2.61

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Interest income:
Loan interest	$ 190,211	$ 236,423	$ 609,064	$ 704,712
Investment interest	50,272	48,128	143,086	129,835
Total interest income	240,483	284,551	752,150	834,547
Interest expense	168,328	207,159	539,367	639,756
Net interest income	72,155	77,392	212,783	194,791
Less provision for loan losses	18,111	4,275	32,551	5,065
Net interest income after provision for loan losses	54,044	73,117	180,232	189,726
Other income (expense):
Intersegment revenue	0	0	0	0
Other, net	32,325	(3,062)	78,057	(27,297)
Loss on sale of loans	(107)	(1,022)	(1,685)	(16,776)
Impairment expense and provision for beneficial interests	(29,052)	(4,974)	(36,865)	(4,974)
Derivative settlements, net	1,640	817	5,046	24,219
Derivative market value adjustments, net	(13,165)	3,140	(3,668)	(32,266)
Total other income (expense), net	237,316	242,888	806,681	708,989
Cost of services:
Cost of services	72,088	51,477	183,221	157,008
Operating expenses:
Salaries and benefits	146,192	141,204	429,701	438,620
Depreciation and amortization	13,661	21,835	45,572	57,114
Other expenses	61,642	51,370	178,278	138,154
Intersegment expenses, net	0	0	0	0
Total operating expenses	221,495	214,409	653,551	633,888
Income (loss) before income taxes	(2,223)	50,119	150,141	107,819
Income tax (expense) benefit	282	(10,512)	(37,653)	(28,785)
Net income (loss)	(1,941)	39,607	112,488	79,034
Net loss (income) attributable to noncontrolling interests	4,329	4,747	8,398	18,705
Net income (loss) attributable to Nelnet, Inc.	2,388	44,354	120,886	97,739
Total assets	14,084,128	17,197,889	14,084,128	17,197,889	$ 16,712,384
Operating Segments | Loan Servicing and Systems
Interest income:
Loan interest	0	0	0	0
Investment interest	894	1,098	4,046	3,193
Total interest income	894	1,098	4,046	3,193
Interest expense	0	0	0	0
Net interest income	894	1,098	4,046	3,193
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	894	1,098	4,046	3,193
Other income (expense):
Intersegment revenue	5,428	6,944	18,419	21,980
Other, net	690	687	2,085	1,900
Loss on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests	0	(296)	0	(296)
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income (expense), net	114,293	135,227	364,932	412,722
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	76,820	73,310	224,172	234,012
Depreciation and amortization	4,854	5,023	15,304	14,400
Other expenses	19,663	15,629	59,861	42,760
Intersegment expenses, net	18,399	17,894	55,955	58,030
Total operating expenses	119,736	111,856	355,292	349,202
Income (loss) before income taxes	(4,549)	24,469	13,686	66,713
Income tax (expense) benefit	1,092	(5,872)	(3,284)	(16,011)
Net income (loss)	(3,457)	18,597	10,402	50,702
Net loss (income) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Nelnet, Inc.	(3,457)	18,597	10,402	50,702
Total assets	202,366	243,697	202,366	243,697
Operating Segments | Education Technology Services and Payments
Interest income:
Loan interest	0	0	0	0
Investment interest	9,734	8,934	23,315	20,237
Total interest income	9,734	8,934	23,315	20,237
Interest expense	0	0	0	0
Net interest income	9,734	8,934	23,315	20,237
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	9,734	8,934	23,315	20,237
Other income (expense):
Intersegment revenue	60	77	166	198
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	118,239	113,873	378,793	357,456
Cost of services:
Cost of services	45,273	43,694	134,106	131,804
Operating expenses:
Salaries and benefits	41,053	39,776	121,956	116,040
Depreciation and amortization	2,616	3,030	8,012	8,424
Other expenses	7,614	8,309	23,772	26,063
Intersegment expenses, net	4,604	5,875	14,216	17,559
Total operating expenses	55,887	56,990	167,956	168,086
Income (loss) before income taxes	26,813	22,123	100,046	77,803
Income tax (expense) benefit	(6,450)	(5,307)	(24,035)	(18,700)
Net income (loss)	20,363	16,816	76,011	59,103
Net loss (income) attributable to noncontrolling interests	54	(6)	101	113
Net income (loss) attributable to Nelnet, Inc.	20,417	16,810	76,112	59,216
Total assets	556,897	444,631	556,897	444,631
Operating Segments | Asset Generation and Management
Interest income:
Loan interest	180,571	230,816	583,907	689,633
Investment interest	18,970	18,062	54,513	47,726
Total interest income	199,541	248,878	638,420	737,359
Interest expense	161,142	197,393	523,678	618,905
Net interest income	38,399	51,485	114,742	118,454
Less provision for loan losses	11,968	2,348	14,199	(772)
Net interest income after provision for loan losses	26,431	49,137	100,543	119,226
Other income (expense):
Intersegment revenue	0	0	0	0
Other, net	4,918	2,776	11,239	6,939
Loss on sale of loans	(107)	(1,022)	(1,685)	(16,776)
Impairment expense and provision for beneficial interests	(28,952)	0	(34,863)	0
Derivative settlements, net	1,359	621	4,356	23,940
Derivative market value adjustments, net	(9,518)	1,192	(2,875)	(35,323)
Total other income (expense), net	(32,300)	3,567	(23,828)	(21,220)
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	1,220	1,242	3,529	3,093
Depreciation and amortization	0	0	0	0
Other expenses	2,775	2,952	9,985	12,083
Intersegment expenses, net	6,482	7,948	21,491	24,789
Total operating expenses	10,477	12,142	35,005	39,965
Income (loss) before income taxes	(16,346)	40,562	41,710	58,041
Income tax (expense) benefit	3,923	(9,735)	(10,010)	(13,930)
Net income (loss)	(12,423)	30,827	31,700	44,111
Net loss (income) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Nelnet, Inc.	(12,423)	30,827	31,700	44,111
Total assets	10,707,442	14,111,517	10,707,442	14,111,517
Operating Segments | Nelnet Bank
Interest income:
Loan interest	9,639	5,608	25,157	15,079
Investment interest	12,522	9,563	33,301	26,013
Total interest income	22,161	15,171	58,458	41,092
Interest expense	11,606	9,456	31,872	24,841
Net interest income	10,555	5,715	26,586	16,251
Less provision for loan losses	6,143	1,927	18,352	5,837
Net interest income after provision for loan losses	4,412	3,788	8,234	10,414
Other income (expense):
Intersegment revenue	0	0	0	0
Other, net	841	565	1,991	1,395
Loss on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests	0	0	0	0
Derivative settlements, net	281	196	690	279
Derivative market value adjustments, net	(3,647)	1,948	(793)	3,057
Total other income (expense), net	(2,525)	2,709	1,888	4,731
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	2,973	2,520	8,491	6,881
Depreciation and amortization	343	259	944	315
Other expenses	2,570	1,290	5,765	3,696
Intersegment expenses, net	759	129	2,252	302
Total operating expenses	6,645	4,198	17,452	11,194
Income (loss) before income taxes	(4,758)	2,299	(7,330)	3,951
Income tax (expense) benefit	1,143	(552)	1,800	(913)
Net income (loss)	(3,615)	1,747	(5,530)	3,038
Net loss (income) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Nelnet, Inc.	(3,615)	1,747	(5,530)	3,038
Total assets	1,328,808	1,089,565	1,328,808	1,089,565
NFS Other Operating Segments
Interest income:
Loan interest	0	0	0	0
Investment interest	12,415	13,021	43,910	54,481
Total interest income	12,415	13,021	43,910	54,481
Interest expense	2,245	5,661	7,268	24,860
Net interest income	10,170	7,360	36,642	29,621
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	10,170	7,360	36,642	29,621
Other income (expense):
Intersegment revenue	0	0	0	0
Other, net	22,370	9,861	51,013	15,087
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	22,370	9,861	51,013	15,087
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	398	288	1,129	717
Depreciation and amortization	0	0	0	0
Other expenses	17,904	7,522	41,536	12,223
Intersegment expenses, net	200	191	665	447
Total operating expenses	18,502	8,001	43,330	13,387
Income (loss) before income taxes	14,038	9,220	44,325	31,321
Income tax (expense) benefit	(3,341)	(2,177)	(10,550)	(7,417)
Net income (loss)	10,697	7,043	33,775	23,904
Net loss (income) attributable to noncontrolling interests	(117)	(149)	(366)	(418)
Net income (loss) attributable to Nelnet, Inc.	10,580	6,894	33,409	23,486
Total assets	1,020,732	1,096,494	1,020,732	1,096,494
Corporate and Other Activities
Interest income:
Loan interest	0	0	0	0
Investment interest	3,105	3,232	9,566	8,826
Total interest income	3,105	3,232	9,566	8,826
Interest expense	704	432	2,114	1,793
Net interest income	2,401	2,800	7,452	7,033
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	2,401	2,800	7,452	7,033
Other income (expense):
Intersegment revenue	0	0	0	0
Other, net	3,506	(16,950)	11,730	(52,617)
Loss on sale of loans	0	0	0	0
Impairment expense and provision for beneficial interests	(100)	(4,678)	(2,002)	(4,678)
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income (expense), net	22,727	(15,327)	52,469	(37,608)
Cost of services:
Cost of services	26,815	7,783	49,115	25,204
Operating expenses:
Salaries and benefits	23,852	24,731	72,159	78,686
Depreciation and amortization	5,848	13,522	21,312	33,976
Other expenses	11,116	15,670	37,359	41,327
Intersegment expenses, net	(25,080)	(25,679)	(77,729)	(79,757)
Total operating expenses	15,736	28,244	53,101	74,232
Income (loss) before income taxes	(17,423)	(48,554)	(42,295)	(130,011)
Income tax (expense) benefit	3,915	13,131	8,426	28,188
Net income (loss)	(13,508)	(35,423)	(33,869)	(101,823)
Net loss (income) attributable to noncontrolling interests	4,392	4,902	8,663	19,010
Net income (loss) attributable to Nelnet, Inc.	(9,116)	(30,521)	(25,206)	(82,813)
Total assets	763,310	931,853	763,310	931,853
Eliminations
Interest income:
Loan interest	0	0	0	0
Investment interest	(7,368)	(5,783)	(25,565)	(30,643)
Total interest income	(7,368)	(5,783)	(25,565)	(30,643)
Interest expense	(7,368)	(5,783)	(25,565)	(30,643)
Net interest income	0	0	0	0
Less 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	(5,488)	(7,021)	(18,585)	(22,178)
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	(5,488)	(7,021)	(18,585)	(22,178)
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	(124)	(663)	(1,735)	(808)
Depreciation and amortization	0	0	0	0
Other expenses	0	0	0	0
Intersegment expenses, net	(5,364)	(6,358)	(16,850)	(21,370)
Total operating expenses	(5,488)	(7,021)	(18,585)	(22,178)
Income (loss) before income taxes	0	0	0	0
Income tax (expense) benefit	0	0	0	0
Net income (loss)	0	0	0	0
Net loss (income) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Nelnet, Inc.	0	0	0	0
Total assets	(495,427)	(719,868)	(495,427)	(719,868)
Loan servicing and systems revenue
Other income (expense):
Revenue	108,175	127,892	344,428	389,138
Loan servicing and systems revenue | Operating Segments | Loan Servicing and Systems
Other income (expense):
Revenue	108,175	127,892	344,428	389,138
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	118,179	113,796	378,627	357,258
Cost of services:
Cost of services	45,273	43,694	134,106	131,804
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	118,179	113,796	378,627	357,258
Cost of services:
Cost of services	45,273	43,694	134,106	131,804
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	19,321	6,301	42,741	19,687
Cost of services:
Cost of services	26,815	7,783	49,115	25,204
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	19,321	6,301	42,741	19,687
Cost of services:
Cost of services	26,815	7,783	49,115	25,204
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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Solar construction revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 19,321	$ 6,301	$ 42,741	$ 19,687
Commercial revenue
Disaggregation of Revenue [Line Items]
Revenue	18,764	4,221	39,477	12,426
Residential revenue
Disaggregation of Revenue [Line Items]
Revenue	557	2,080	3,264	7,261
Loan servicing and systems revenue
Disaggregation of Revenue [Line Items]
Revenue	108,175	127,892	344,428	389,138
Government loan servicing
Disaggregation of Revenue [Line Items]
Revenue	85,215	100,154	277,705	304,769
Private education and consumer loan servicing
Disaggregation of Revenue [Line Items]
Revenue	13,057	12,330	38,634	36,556
FFELP loan servicing
Disaggregation of Revenue [Line Items]
Revenue	2,945	3,304	9,570	10,226
Software services
Disaggregation of Revenue [Line Items]
Revenue	5,197	9,416	14,617	25,076
Outsourced services
Disaggregation of Revenue [Line Items]
Revenue	1,761	2,688	3,902	12,511
Education technology services and payments revenue
Disaggregation of Revenue [Line Items]
Revenue	118,179	113,796	378,627	357,258
Tuition payment plan services
Disaggregation of Revenue [Line Items]
Revenue	31,659	30,223	104,702	95,235
Payment processing
Disaggregation of Revenue [Line Items]
Revenue	55,813	50,848	137,926	126,716
Education technology services
Disaggregation of Revenue [Line Items]
Revenue	30,080	31,793	133,306	132,796
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 627	$ 932	$ 2,693	$ 2,511

Disaggregated Revenue - Other I

Disaggregated Revenue - Other Income (Expense) by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Reinsurance premiums	$ 16,619	$ 6,287	$ 44,250	$ 10,638
Investment activity, net	8,529	(1,003)	7,447	(8,155)
ALLO preferred return	4,783	2,299	11,353	6,822
Borrower late fee income	1,741	2,220	$ 7,460	6,635
Late Fee Income, Servicing Financial Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]			Other, net
Contractually Specified Servicing Fee Income, Statement of Income or Comprehensive Income [Extensible Enumeration]			Other, net
Other	9,077	7,539	$ 20,433	15,860
Other, net	32,325	(3,062)	78,057	(27,297)
ALLO Voting Membership Interests Investment
Disaggregation of Revenue [Line Items]
Loss on investments	0	(17,293)	(10,693)	(49,676)
Solar
Disaggregation of Revenue [Line Items]
Loss on investments	(11,238)	(6,456)	(11,068)	(19,485)
Administration/sponsor fee income
Disaggregation of Revenue [Line Items]
Administration/sponsor fee income	1,420	1,712	4,448	5,180
Investment Advice
Disaggregation of Revenue [Line Items]
Investment advisory services (WRCM)	$ 1,394	$ 1,633	$ 4,427	$ 4,884

Major Customer (Details)

Major Customer (Details) - Government Loan Servicing $ in Millions		3 Months Ended		9 Months Ended
	Apr. 24, 2023 extension	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Concentration Risk [Line Items]
Revenue | $		$ 85.2	$ 100.2	$ 277.7	$ 304.8
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	Sep. 30, 2024	Dec. 31, 2023
Assets:
Total investments	$ 1,046,140	$ 1,006,810
Derivative instruments	$ 118	452
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets
Total assets	$ 1,046,258	1,007,262
Liabilities:
Derivative instruments	$ 2,434	1,976
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Total liabilities	$ 2,434	1,976
Asset-backed debt securities - available-for-sale
Assets:
Total investments	975,795	955,903
Equity securities
Assets:
Total investments	186	73
Equity securities measured at net asset value
Assets:
Total investments	70,159	50,834
Level 1
Assets:
Total investments	286	172
Derivative instruments	0	0
Total assets	286	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	186	73
Level 2
Assets:
Total investments	975,695	955,804
Derivative instruments	118	452
Total assets	975,813	956,256
Liabilities:
Derivative instruments	2,434	1,976
Total liabilities	2,434	1,976
Level 2 | Asset-backed debt securities - available-for-sale
Assets:
Total investments	975,695	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	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Financial assets:
Loans receivable	$ 10,572,881	$ 13,108,204
Accrued loan interest receivable	600,097	764,385
Cash and cash equivalents	219,684	168,112	$ 187,690	$ 118,146
Investments - held-to-maturity asset-backed securities	227,586
Beneficial interest in loan securitizations	232,654
Restricted cash - due to customers	334,968	368,656	$ 158,872	$ 294,311
Financial liabilities:
Accrued interest payable	25,389	35,391
Bank deposits	1,070,758	743,599
Due to customers	404,459	425,507
Fair value
Financial assets:
Loans receivable	10,502,403	12,800,638
Accrued loan interest receivable	600,097	764,385
Cash and cash equivalents	219,684	168,112
Investments (at fair value)	1,046,140	1,006,810
Investments - held-to-maturity asset-backed securities	227,586	163,622
Notes receivable	27,778	53,747
Beneficial interest in loan securitizations	232,654	262,093
Restricted cash	344,366	488,723
Restricted cash - due to customers	334,968	368,656
Derivative instruments	118	452
Financial liabilities:
Bonds and notes payable	8,901,588	11,629,359
Accrued interest payable	25,389	35,391
Bank deposits	1,058,023	722,973
Due to customers	404,459	425,507
Derivative instruments	2,434	1,976
Fair value | Level 1
Financial assets:
Loans receivable	0	0
Accrued loan interest receivable	0	0
Cash and cash equivalents	219,684	168,112
Investments (at fair value)	286	172
Investments - held-to-maturity asset-backed securities	0	0
Notes receivable	0	0
Beneficial interest in loan securitizations	0	0
Restricted cash	344,366	488,723
Restricted cash - due to customers	334,968	368,656
Derivative instruments	0	0
Financial liabilities:
Bonds and notes payable	0	0
Accrued interest payable	0	0
Bank deposits	754,116	467,420
Due to customers	404,459	425,507
Derivative instruments	0	0
Fair value | Level 2
Financial assets:
Loans receivable	0	0
Accrued loan interest receivable	600,097	764,385
Cash and cash equivalents	0	0
Investments (at fair value)	975,695	955,804
Investments - held-to-maturity asset-backed securities	227,586	163,622
Notes receivable	27,778	53,747
Beneficial interest in loan securitizations	0	0
Restricted cash	0	0
Restricted cash - due to customers	0	0
Derivative instruments	118	452
Financial liabilities:
Bonds and notes payable	8,901,588	11,629,359
Accrued interest payable	25,389	35,391
Bank deposits	303,907	255,553
Due to customers	0	0
Derivative instruments	2,434	1,976
Fair value | Level 3
Financial assets:
Loans receivable	10,502,403	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 asset-backed securities	0	0
Notes receivable	0	0
Beneficial interest in loan securitizations	232,654	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	9,972,784	12,343,819
Accrued loan interest receivable	600,097	764,385
Cash and cash equivalents	219,684	168,112
Investments (at fair value)	1,046,140	1,006,810
Investments - held-to-maturity asset-backed securities	222,480	162,738
Notes receivable	27,778	53,747
Beneficial interest in loan securitizations	218,659	225,079
Restricted cash	344,366	488,723
Restricted cash - due to customers	334,968	368,656
Derivative instruments	118	452
Financial liabilities:
Bonds and notes payable	8,938,446	11,828,393
Accrued interest payable	25,389	35,391
Bank deposits	1,070,758	743,599
Due to customers	404,459	425,507
Derivative instruments	$ 2,434	$ 1,976