Navient (NAVI) 10-Q 28 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2016shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	NAVI
Entity Registrant Name	NAVIENT CORP
Entity Central Index Key	1,593,538
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	330,513,819

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Investments
Available-for-sale	$ 5	$ 5
Other	422	496
Total investments	427	501
Cash and cash equivalents	1,168	1,594
Restricted cash and investments	3,818	3,738
Goodwill and acquired intangible assets, net	702	705
Other assets	4,697	4,682
Total assets	131,377	134,112
Liabilities
Short-term borrowings	2,363	2,570
Long-term borrowings	122,920	124,833
Other liabilities	2,255	2,710
Total liabilities	$ 127,538	$ 130,113
Commitments and contingencies
Equity
Common stock, par value $0.01 per share, 1.125 billion shares authorized: 433 million and 431 million shares issued, respectively	$ 4	$ 4
Additional paid-in capital	2,975	2,967
Accumulated other comprehensive loss (net of tax benefit of $77 and $30, respectively)	(132)	(51)
Retained earnings	2,604	2,480
Total Navient Corporation stockholders' equity before treasury stock	5,451	5,400
Less: Common stock held in treasury at cost: 103 million and 82 million shares, respectively	(1,636)	(1,425)
Total Navient Corporation stockholders' equity	3,815	3,975
Noncontrolling interest	24	24
Total equity	3,839	3,999
Total liabilities and equity	131,377	134,112
FFELP Loans [Member]
Assets
Loans, net	95,018	96,498
Private Education Loans [Member]
Assets
Loans, net	25,547	26,394
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Investments
Restricted cash	3,630	3,553
Other assets	642	293
Liabilities
Short-term borrowings	369	710
Long-term borrowings	105,292	106,510
Net assets of consolidated variable interest entities	11,339	11,266
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loans [Member]
Assets
Loans, net	90,241	91,516
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Private Education Loans [Member]
Assets
Loans, net	$ 22,487	$ 23,124

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Allowance for loans losses	$ 1,519	$ 1,564
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,125,000,000	1,125,000,000
Common stock, shares issued	433,000,000	431,000,000
Tax expense for accumulated other comprehensive income	$ 77	$ 30
Common stock held in treasury	103,000,000	82,000,000
FFELP Loans [Member]
Allowance for loans losses	$ 70	$ 78
Private Education Loans [Member]
Allowance for loans losses	$ 1,434	$ 1,471

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest income:
Education loans	$ 1,045	$ 1,093
Other loans	1	2
Cash and investments	5	2
Total interest income	1,051	1,097
Total interest expense	565	514
Net interest income	486	583
Less: provisions for loan losses	111	125
Net interest income after provisions for loan losses	375	458
Other income (loss):
Servicing revenue	82	77
Asset recovery and business processing revenue	90	89
Other income (loss)	(13)	7
Gains on sales of loans and investments		5
Gains on debt repurchases	0	0
Gains (losses) on derivative and hedging activities, net	1	71
Total other income	160	249
Expenses:
Salaries and benefits	132	123
Other operating expenses	115	107
Total operating expenses	247	230
Goodwill and acquired intangible asset impairment and amortization expense	4	1
Restructuring and other reorganization expenses		3
Total expenses	251	234
Income from continuing operations, before income tax expense	284	473
Income tax expense	103	181
Net income from continuing operations	181	292
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0
Net income	181	292
Less: net loss attributable to noncontrolling interest	0	0
Net income attributable to Navient Corporation	$ 181	$ 292
Basic earnings per common share attributable to Navient Corporation:
Continuing operations	$ 0.53	$ 0.73
Discontinued operations	0	0
Total	$ 0.53	$ 0.73
Average common shares outstanding	339	398
Diluted earnings per common share attributable to Navient Corporation:
Continuing operations	$ 0.53	$ 0.72
Discontinued operations	0	0
Total	$ 0.53	$ 0.72
Average common and common equivalent shares outstanding	343	405
Dividends per common share attributable to Navient Corporation	$ 0.16	$ 0.16
FFELP Loans [Member]
Interest income:
Education loans	$ 634	$ 637
Less: provisions for loan losses	7	5
Private Education Loans [Member]
Interest income:
Education loans	411	456
Less: provisions for loan losses	$ 104	$ 120

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 181	$ 292
Other comprehensive income (loss):
Unrealized hedging losses on derivatives	(129)	(71)
Reclassification adjustments for derivative (gains) losses included in net income (interest expense)	0	0
Total unrealized losses on derivatives	(129)	(71)
Income tax benefit	48	26
Other comprehensive loss, net of tax	(81)	(45)
Total comprehensive income attributable to Navient Corporation	$ 100	$ 247

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Common Stock Shares Outstanding [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interest [Member]
Beginning Balance, Value at Dec. 31, 2014	$ 4,198	$ 4	$ (432)		$ 2,893	$ 9	$ 1,724	$ 4,198
Beginning Balance, Shares at Dec. 31, 2014		425,637,635	(23,902,829)	401,734,806
Comprehensive income:
Net income	292						292	292
Other comprehensive loss, net of tax	(45)					(45)		(45)
Total comprehensive income	247							247
Cash dividends:
Common stock	(63)						(63)	(63)
Dividend equivalent units related to employee stock-based compensation plans	(2)						(2)	(2)
Issuance of common shares	$ 21				21			21
Issuance of common shares, Shares	3,585,238	3,585,238		3,585,238
Tax benefit related to employee stock-based compensation plans	$ 9				9			9
Stock-based compensation expense	12				12			12
Common stock repurchased	(300)		$ (300)					(300)
Common stock repurchased, Shares			(14,653,835)	(14,653,835)
Shares repurchased related to employee stock-based compensation plans	$ (35)		$ (35)					(35)
Shares repurchased related to employee stock-based compensation plans, Shares	(1,644,764)		(1,644,764)	(1,644,764)
Noncontrolling interests in businesses	$ 4								$ 4
Ending Balance, Value at Mar. 31, 2015	4,091	$ 4	$ (767)		2,935	(36)	1,951	4,087	4
Ending Balance, Shares at Mar. 31, 2015		429,222,873	(40,201,428)	389,021,445
Beginning Balance, Value at Dec. 31, 2015	3,999	$ 4	$ (1,425)		2,967	(51)	2,480	3,975	24
Beginning Balance, Shares at Dec. 31, 2015		430,561,656	(82,350,868)	348,210,788
Comprehensive income:
Net income	181						181	181
Other comprehensive loss, net of tax	(81)					(81)		(81)
Total comprehensive income	100							100
Cash dividends:
Common stock	(54)						(54)	(54)
Dividend equivalent units related to employee stock-based compensation plans	(3)						(3)	(3)
Issuance of common shares	$ 4				4			4
Issuance of common shares, Shares	2,499,585	2,499,585		2,499,585
Tax benefit related to employee stock-based compensation plans	$ (8)				(8)			(8)
Stock-based compensation expense	12				12			12
Common stock repurchased	(200)		$ (200)					(200)
Common stock repurchased, Shares			(19,210,281)	(19,210,281)
Shares repurchased related to employee stock-based compensation plans	$ (11)		$ (11)					(11)
Shares repurchased related to employee stock-based compensation plans, Shares	(986,273)		(986,273)	(986,273)
Ending Balance, Value at Mar. 31, 2016	$ 3,839	$ 4	$ (1,636)		$ 2,975	$ (132)	$ 2,604	$ 3,815	$ 24
Ending Balance, Shares at Mar. 31, 2016		433,061,241	(102,547,422)	330,513,819

Consolidated Statements of Cha7

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Dividends per common share attributable to Navient Corporation	$ 0.16	$ 0.16
Retained Earnings [Member]
Dividends per common share attributable to Navient Corporation	0.16	0.16
Total Stockholders' Equity [Member]
Dividends per common share attributable to Navient Corporation	$ 0.16	$ 0.16

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net income	$ 181	$ 292
Adjustments to reconcile net income to net cash provided by operating activities:
Gains on loans and investments, net		(5)
Goodwill and acquired intangible asset impairment and amortization expense	4	1
Stock-based compensation expense	12	12
Unrealized gains on derivative and hedging activities	(131)	(224)
Provisions for loan losses	111	125
Increase in restricted cash - other	(5)	(7)
Decrease in accrued interest receivable	71	148
Decrease in accrued interest payable	(145)	(60)
Decrease in other assets	308	153
(Decrease) increase in other liabilities	(64)	64
Total net cash provided by operating activities	342	499
Investing activities
Education loans acquired	(1,537)	(830)
Reduction of education loans:
Installment payments, claims and other	3,734	3,407
Proceeds from sales of education loans		193
Other investing activities, net	69	24
Purchases of other securities	(42)
Proceeds from maturities of other securities	41	1
(Increase) decrease in restricted cash - variable interest entities	(80)	126
Purchase of subsidiary, net of cash acquired		(181)
Total net cash provided by investing activities	2,185	2,740
Financing activities
Borrowings collateralized by loans in trust - issued	1,545	1,678
Borrowings collateralized by loans in trust - repaid	(3,228)	(3,369)
Asset-backed commercial paper conduits, net	(155)	(539)
Other long-term borrowings issued		493
Other long-term borrowings repaid	(974)	(590)
Other financing activities, net	113	59
Common stock repurchased	(200)	(300)
Common stock dividends paid	(54)	(63)
Net cash used in financing activities	(2,953)	(2,631)
Net (decrease) increase in cash and cash equivalents	(426)	608
Cash and cash equivalents at beginning of period	1,594	1,443
Cash and cash equivalents at end of period	1,168	2,051
Cash disbursements made (refunds received) for:
Interest	515	500
Income taxes paid	20	$ 1
Income taxes received	$ (2)

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	1. Significant Accounting Policies Basis of Presentation The accompanying unaudited, consolidated financial statements of Navient have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. The consolidated financial statements include the accounts of Navient and its majority-owned and controlled subsidiaries and those Variable Interest Entities (“VIEs”) for which we are the primary beneficiary, after eliminating the effects of intercompany accounts and transactions. In the opinion of management, all adjustments considered necessary for a fair statement of the results for the interim periods have been included. The preparation of financial statements in conformity with 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-month period ended March 31, 2016 are not necessarily indicative of the results for the year ending December 31, 2016 or for any other period. These unaudited financial statements should be read in conjunction with the audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2015 (the “2015 Form 10-K”). Definitions for certain capitalized terms used but not otherwise defined in this Quarterly Report on Form 10-Q can be found in our 2015 Form 10-K. Reclassifications Certain reclassifications have been made to the balances as of and for the three months ended March 31, 2015 to be consistent with classifications adopted for 2016, and had no effect on net income, total assets, or total liabilities. Recently Issued Accounting Pronouncements Revenue Recognition On May 28, 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Classification and Measurement On January 5, 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities,” which reconsiders the classification and measurement of financial instruments. The objective of this project is to significantly improve the usefulness of financial instrument reporting for users of financial statements. It will be effective for public companies in fiscal years beginning after December 15, 2017. We do not expect this update to have a material impact on the Company. Leases On February 25, 2016, the FASB issued ASU No. 2016-02, “Leases,” which requires the identification of arrangements that should be accounted for as leases by lessees. In general, for lease arrangements exceeding a twelve-month term, these arrangements must be recognized as assets and liabilities on the balance sheet of the lessee. A right-of-use asset and lease obligation will be recorded for all leases, whether operating or financing, while the income statement will reflect lease expense for operating leases and amortization/interest expense for financing leases. The balance sheet amount recorded for existing leases at the date of adoption must be calculated using the applicable incremental borrowing rate at the date of adoption. The standard requires the use of the modified retrospective transition method, which will require adjustment to all comparative periods presented. It will be effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. We are currently assessing the impact that adopting this new accounting standard will have on our consolidated financial statements and footnote disclosures, but expect it to be immaterial. Stock Compensation On March 30, 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation,” which identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. The new standard is effective for the Company in fiscal years beginning after December 15, 2016. Early application is permitted. We are currently assessing the impact that adopting this new accounting standard will have on our consolidated financial statements and footnote disclosures, but expect it to be immaterial.

Allowance for Loan Losses

Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Allowance for Loan Losses	2. Allowance for Loan Losses Our provisions for loan losses represent the periodic expense of maintaining an allowance sufficient to absorb incurred probable losses, net of expected recoveries, in the held-for-investment loan portfolios. The evaluation of the provisions for loan losses is inherently subjective, as it requires material estimates that may be susceptible to significant changes. We believe that the allowance for loan losses is appropriate to cover probable losses incurred in the loan portfolios. We segregate our Private Education Loan portfolio into two classes of loans — traditional and non-traditional. Non-traditional loans are loans to (i) customers attending for-profit schools with an original Fair Isaac and Company (“FICO”) score of less than 670 and (ii) customers attending not-for-profit schools with an original FICO score of less than 640. The FICO score used in determining whether a loan is non-traditional is the greater of the customer or cosigner FICO score at origination. Traditional loans are defined as all other Private Education Loans that are not classified as non-traditional. Allowance for Loan Losses Metrics Three Months Ended March 31, 2016 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 78 $ 1,471 $ 15 $ 1,564 Total provision 7 104 — 111 Charge-offs (1) (15 ) (144 ) — (159 ) Reclassification of interest reserve (2) — 3 — 3 Ending balance $ 70 $ 1,434 $ 15 $ 1,519 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,185 $ 11 $ 1,196 Ending balance: collectively evaluated for impairment $ 70 $ 249 $ 4 $ 323 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,088 $ 33 $ 11,121 Ending balance: collectively evaluated for impairment (3) $ 94,074 $ 16,408 $ 50 $ 110,532 Charge-offs as a percentage of average loans in repayment (annualized) .08 % 2.39 % 2.04 % Allowance coverage of charge-offs (annualized) 1.2 2.5 8.6 Allowance as a percentage of the ending total loan balance .07 % 5.22 % 17.91 % Allowance as a percentage of the ending loans in repayment .10 % 6.03 % 17.91 % Ending total loans (3) $ 94,074 $ 27,496 $ 83 Average loans in repayment $ 73,689 $ 24,180 $ 85 Ending loans in repayment $ 73,699 $ 23,786 $ 83 (1) Charge-offs are reported net of expected recoveries. For Private Education Loans, the expected recovery amount is transferred to the receivable for partially charged-off loan balance. Charge-offs include charge-offs against the receivable for partially charged-off loans which represents the difference between what was expected to be recovered and any shortfalls in what was actually recovered in the period. See “Receivable for Partially Charged-Off Private Education Loans” for further discussion. (2) Represents the additional allowance related to the amount of uncollectible interest reserved within interest income that is transferred in the period to the allowance for loan losses when interest is capitalized to a loan’s principal balance. (3) Ending total loans for Private Education Loans includes the receivable for partially charged-off loans. Three Months Ended March 31, 2015 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 93 $ 1,916 $ 24 $ 2,033 Total provision 5 120 — 125 Charge-offs (1) (7 ) (190 ) (1 ) (198 ) Reclassification of interest reserve (2) — 3 — 3 Ending balance $ 91 $ 1,849 $ 23 $ 1,963 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,077 $ 18 $ 1,095 Ending balance: collectively evaluated for impairment $ 91 $ 772 $ 5 $ 868 Loans: Ending balance: individually evaluated for impairment $ — $ 10,859 $ 43 $ 10,902 Ending balance: collectively evaluated for impairment $ 101,347 $ 20,561 $ 59 $ 121,967 Charge-offs as a percentage of average loans in repayment (annualized) .03 % 2.89 % 3.43 % Allowance coverage of charge-offs (annualized) 3.6 2.4 6.3 Allowance as a percentage of the ending total loan balance .09 % 5.88 % 22.30 % Allowance as a percentage of the ending loans in repayment .12 % 7.04 % 22.30 % Ending total loans (3) $ 101,347 $ 31,420 $ 102 Average loans in repayment $ 77,474 $ 26,644 $ 105 Ending loans in repayment $ 76,755 $ 26,260 $ 102 (1) Charge-offs are reported net of expected recoveries. For Private Education Loans, the expected recovery amount is transferred to the receivable for partially charged-off loan balance. Charge-offs include charge-offs against the receivable for partially charged-off loans which represents the difference between what was expected to be collected and any shortfalls in what was actually collected in the period. See “Receivable for Partially Charged-Off Private Education Loans” for further discussion. (2) Represents the additional allowance related to the amount of uncollectible interest reserved within interest income that is transferred in the period to the allowance for loan losses when interest is capitalized to a loan’s principal balance. (3) Ending total loans for Private Education Loans includes the receivable for partially charged-off loans. Key Credit Quality Indicators FFELP Loans are substantially insured and guaranteed as to their principal and accrued interest in the event of default; therefore, the key credit quality indicator for this portfolio is loan status. The impact of changes in loan status is incorporated quarterly into the allowance for loan losses calculation. For Private Education Loans, the key credit quality indicators are school type, FICO scores, the existence of a cosigner, the loan status and loan seasoning. The school type/FICO score are assessed at origination and maintained through the traditional/non-traditional loan designation. The other Private Education Loan key quality indicators can change and are incorporated quarterly into the allowance for loan losses calculation. The following table highlights the principal balance (excluding the receivable for partially charged-off loans) of our Private Education Loan portfolio stratified by the key credit quality indicators. Private Education Loans March 31, 2016 December 31, 2015 (Dollars in millions) Balance (3) % of Balance Balance (3) % of Balance Credit Quality Indicators School Type/FICO Scores: Traditional $ 24,466 92 % $ 25,280 92 % Non-Traditional (1) 2,163 8 2,235 8 Total $ 26,629 100 % $ 27,515 100 % Cosigners: With cosigner $ 17,172 64 % $ 17,738 64 % Without cosigner 9,457 36 9,777 36 Total $ 26,629 100 % $ 27,515 100 % Seasoning (2) : 1-12 payments $ 1,434 6 % $ 1,776 7 % 13-24 payments 1,692 6 1,977 7 25-36 payments 2,617 10 2,982 11 37-48 payments 3,574 13 3,787 14 More than 48 payments 15,385 58 14,953 54 Not yet in repayment 1,927 7 2,040 7 Total $ 26,629 100 % $ 27,515 100 % (1) Defined as loans to customers attending for-profit schools (with a FICO score of less than 670 at origination) and customers attending not-for-profit schools (with a FICO score of less than 640 at origination). (2) Number of months in active repayment for which a scheduled payment was received. (3) Balance represents gross Private Education Loans. The following tables provide information regarding the loan status and aging of past due loans. FFELP Loan Delinquencies March 31, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 7,986 $ 8,257 Loans in forbearance (2) 12,389 13,298 Loans in repayment and percentage of each status: Loans current 63,333 85.9 % 62,651 84.7 % Loans delinquent 31-60 days (3) 3,559 4.8 3,285 4.5 Loans delinquent 61-90 days (3) 1,657 2.3 1,856 2.5 Loans delinquent greater than 90 days (3) 5,150 7.0 6,142 8.3 Total FFELP Loans in repayment 73,699 100 % 73,934 100 % Total FFELP Loans, gross 94,074 95,489 FFELP Loan unamortized premium 1,014 1,087 Total FFELP Loans 95,088 96,576 FFELP Loan allowance for losses (70 ) (78 ) FFELP Loans, net $ 95,018 $ 96,498 Percentage of FFELP Loans in repayment 78.3 % 77.4 % Delinquencies as a percentage of FFELP Loans in repayment 14.1 % 15.3 % FFELP Loans in forbearance as a percentage of loans in repayment and forbearance 14.4 % 15.2 % (1) Loans for customers who may still be attending school or engaging in other permitted educational activities and are not yet required to make payments on their loans, e.g., residency periods for medical students or a grace period for bar exam preparation, as well as loans for customers who have requested and qualify for other permitted program deferments such as military, unemployment, or economic hardships. (2) Loans for customers who have used their allowable deferment time or do not qualify for deferment, that need additional time to obtain employment or who have temporarily ceased making full payments due to hardship or other factors. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due. Traditional Private Education Loan March 31, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 1,756 $ 1,859 Loans in forbearance (2) 809 863 Loans in repayment and percentage of each status: Loans current 20,673 94.4 % 21,085 93.5 % Loans delinquent 31-60 days (3) 371 1.7 491 2.2 Loans delinquent 61-90 days (3) 245 1.1 292 1.3 Loans delinquent greater than 90 days (3) 612 2.8 690 3.0 Total traditional loans in repayment 21,901 100 % 22,558 100 % Total traditional loans, gross 24,466 25,280 Traditional loans unamortized discount (455 ) (470 ) Total traditional loans 24,011 24,810 Traditional loans receivable for partially charged-off loans 553 560 Traditional loans allowance for losses (1,203 ) (1,236 ) Traditional loans, net $ 23,361 $ 24,134 Percentage of traditional loans in repayment 89.5 % 89.2 % Delinquencies as a percentage of traditional loans in repayment 5.6 % 6.5 % Loans in forbearance as a percentage of loans in repayment and forbearance 3.6 % 3.7 % (1) Deferment includes customers who have returned to school or are engaged in other permitted educational activities and are not yet required to make payments on their loans, e.g., residency periods for medical students or a grace period for bar exam preparation. (2) Loans for customers who have requested extension of grace period generally during employment transition or who have temporarily ceased making full payments due to hardship or other factors, consistent with established loan program servicing policies and procedures. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due. Non-Traditional Private Education Loan March 31, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 171 $ 181 Loans in forbearance (2) 107 110 Loans in repayment and percentage of each status: Loans current 1,640 87.0 % 1,646 84.7 % Loans delinquent 31-60 days (3) 63 3.3 86 4.4 Loans delinquent 61-90 days (3) 45 2.4 56 2.9 Loans delinquent greater than 90 days (3) 137 7.3 156 8.0 Total non-traditional loans in repayment 1,885 100 % 1,944 100 % Total non-traditional loans, gross 2,163 2,235 Non-traditional loans unamortized discount (60 ) (61 ) Total non-traditional loans 2,103 2,174 Non-traditional loans receivable for partially charged-off loans 314 321 Non-traditional loans allowance for losses (231 ) (235 ) Non-traditional loans, net $ 2,186 $ 2,260 Percentage of non-traditional loans in repayment 87.1 % 87.0 % Delinquencies as a percentage of non-traditional loans in repayment 13.0 % 15.3 % Loans in forbearance as a percentage of loans in repayment and forbearance 5.4 % 5.4 % (1) Deferment includes customers who have returned to school or are engaged in other permitted educational activities and are not yet required to make payments on their loans, e.g., residency periods for medical students or a grace period for bar exam preparation. (2) Loans for customers who have requested extension of grace period generally during employment transition or who have temporarily ceased making full payments due to hardship or other factors, consistent with established loan program servicing policies and procedures. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due. Receivable for Partially Charged-Off Private Education Loans At the end of each month, for loans that are 212 or more days past due, we charge off the estimated loss of a defaulted loan balance. Actual recoveries are applied against the remaining loan balance that was not charged off. We refer to this remaining loan balance as the “receivable for partially charged-off loans.” If actual periodic recoveries are less than expected, the difference is immediately charged off through the allowance for Private Education Loan losses with an offsetting reduction in the receivable for partially charged-off Private Education Loans. If actual periodic recoveries are greater than expected, they will be reflected as a recovery through the allowance for Private Education Loan losses once the cumulative recovery amount exceeds the cumulative amount originally expected to be recovered. The financial crisis, which began in 2007, impacted our collections on defaulted loans and as a result, Private Education Loans which defaulted from 2007 through March 31, 2015, experienced collection performance below our pre-financial crisis experience. For that reason, until we gained enough data and experience to determine the long-term, post-default recovery rate of 21 percent in second-quarter 2015, we established a reserve for potential shortfalls in recoveries. In the second quarter of 2015, the portion of the loan amount charged off at default increased from 73 percent to 79 percent. This did not impact the provision for loan losses as previously this had been reserved through the allowance for loan losses. This change resulted in a $330 million reduction to the balance of the receivable for partially charged-off loans. We no longer expect to have significant periodic recovery shortfalls as a result of this change; however, it is possible we may continue to experience such shortfalls. The following table summarizes the activity in the receivable for partially charged-off Private Education Loans. Three Months Ended March 31, (Dollars in millions) 2016 2015 Receivable at beginning of period $ 881 $ 1,245 Expected future recoveries of current period defaults (1) 36 62 Recoveries (2) (50 ) (52 ) Charge-offs (3) — (19 ) Receivable at end of period 867 1,236 Allowance for estimated recovery shortfalls (4) — (380 ) Net receivable at end of period $ 867 $ 856 (1) Represents the difference between the loan balance and our estimate of the amount to be collected in the future. (2) Current period cash collections. (3) Prior to second-quarter 2015, charge-offs represent the current period recovery shortfall — the difference between what was expected to be collected and what was actually collected. In the second quarter of 2015, the portion of the loan amount charged off at default increased from 73 percent to 79 percent. This change resulted in a $330 million reduction to the balance of the receivable for partially charged-off loans. These amounts are included in the “Allowance for Private Education Loan Losses” table. (4) The allowance for estimated recovery shortfalls of the receivable for partially charged-off Private Education Loans is a component of the $1.8 billion overall allowance for Private Education Loan losses as of March 31, 2015. This component of the allowance was removed in the second quarter of 2015 due to the increase in the charge-off rate discussed above. Troubled Debt Restructurings (“TDRs”) We sometimes modify the terms of loans for certain customers when we believe such modifications may increase the ability and willingness of a customer to make payments and thus increase the ultimate overall amount collected on a loan. These modifications generally take the form of a forbearance, a temporary interest rate reduction or an extended repayment plan. For customers experiencing financial difficulty, certain Private Education Loans for which we have granted either a forbearance of greater than three months, an interest rate reduction or an extended repayment plan are classified as TDRs. Approximately 57 percent and 56 percent of the loans granted forbearance have qualified as a TDR loan at March 31, 2016 and December 31, 2015, respectively. The unpaid principal balance of TDR loans that were in an interest rate reduction plan as of March 31, 2016 and December 31, 2015 was $2.7 billion and $2.5 billion, respectively. At March 31, 2016 and December 31, 2015, all of our TDR loans had a related allowance recorded. The following table provides the recorded investment, unpaid principal balance and related allowance for our TDR loans. TDR Loans (Dollars in millions) Recorded (1) Unpaid Related March 31, 2016 Private Education Loans — Traditional $ 9,276 $ 9,325 $ 978 Private Education Loans — Non-Traditional 1,425 1,429 207 Total $ 10,701 $ 10,754 $ 1,185 December 31, 2015 Private Education Loans — Traditional $ 9,134 $ 9,200 $ 995 Private Education Loans — Non-Traditional 1,441 1,442 214 Total $ 10,575 $ 10,642 $ 1,209 (1) The recorded investment is equal to the unpaid principal balance and accrued interest receivable net of unamortized deferred fees and costs. The following table provides the average recorded investment and interest income recognized for our TDR loans. Three Months Ended March 31, 2016 2015 (Dollars in millions) Average Interest Average Interest Private Education Loans — Traditional $ 9,221 $ 138 $ 8,856 $ 132 Private Education Loans — Non-Traditional 1,434 27 1,476 29 Total $ 10,655 $ 165 $ 10,332 $ 161 The following table provides information regarding the loan status and aging of TDR loans that are past due. TDR Loan Delinquencies March 31, December 31, (Dollars in millions) Balance % Balance % Loans in deferment (1) $ 697 $ 706 Loans in forbearance (2) 665 695 Loans in repayment and percentage of each status: Loans current 8,228 87.6 % 7,885 85.3 % Loans delinquent 31-60 days (3) 326 3.5 414 4.5 Loans delinquent 61-90 days (3) 228 2.4 263 2.8 Loans delinquent greater than 90 days (3) 610 6.5 679 7.4 Total TDR loans in repayment 9,392 100 % 9,241 100 % Total TDR loans, gross $ 10,754 $ 10,642 (1) Deferment includes customers who have returned to school or are engaged in other permitted educational activities and are not yet required to make payments on their loans, e.g., residency periods for medical students or a grace period for bar exam preparation. (2) Loans for customers who have requested extension of grace period generally during employment transition or who have temporarily ceased making full payments due to hardship or other factors, consistent with established loan program servicing policies and procedures. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due. The following table provides the amount of loans modified in the periods presented that resulted in a TDR. Additionally, the table summarizes charge-offs occurring in the TDR portfolio, as well as TDRs for which a payment default occurred in the current period within 12 months of the loan first being designated as a TDR. We define payment default as 60 days past due for this disclosure. The majority of our loans that are considered TDRs involve a temporary forbearance of payments and do not change the contractual interest rate of the loan or do not involve an extended repayment plan. Three Months Ended March 31, 2016 2015 (Dollars in millions) Modified (1) Charge- (2) Payment Modified (1) Charge- (2) Payment Private Education Loans — Traditional $ 341 $ 80 $ 62 $ 430 $ 91 $ 100 Private Education Loans — Non-Traditional 27 22 11 42 28 18 Total $ 368 $ 102 $ 73 $ 472 $ 119 $ 118 (1) Represents period ending balance of loans that have been modified during the period and resulted in a TDR. (2) Represents loans that charged off that were classified as TDRs. Accrued Interest Receivable The following table provides information regarding accrued interest receivable on our Private Education Loans. (Dollars in millions) Accrued Allowance for March 31, 2016 Private Education Loans — Traditional $ 407 $ 26 Private Education Loans — Non-Traditional 53 8 Total $ 460 $ 34 December 31, 2015 Private Education Loans — Traditional $ 433 $ 26 Private Education Loans — Non-Traditional 57 9 Total $ 490 $ 35

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Borrowings	3. Borrowings The following table summarizes our borrowings. March 31, 2016 December 31, 2015 (Dollars in millions) Short Long Total Short Long Total Unsecured borrowings: Senior unsecured debt $ 1,137 $ 12,987 $ 14,124 $ 1,120 $ 13,976 $ 15,096 Total unsecured borrowings 1,137 12,987 14,124 1,120 13,976 15,096 Secured borrowings: FFELP Loan securitizations — 76,411 76,411 — 77,764 77,764 Private Education Loan securitizations (1) — 16,557 16,557 — 16,900 16,900 FFELP Loan — other facilities — 16,446 16,446 — 16,276 16,276 Private Education Loan — other facilities 369 — 369 710 — 710 Other (2) 877 — 877 760 — 760 Total secured borrowings 1,246 109,414 110,660 1,470 110,940 112,410 Total before hedge accounting adjustments 2,383 122,401 124,784 2,590 124,916 127,506 Hedge accounting adjustments (20 ) 519 499 (20 ) (83 ) (103 ) Total $ 2,363 $ 122,920 $ 125,283 $ 2,570 $ 124,833 $ 127,403 (1) Includes $546 million of long-term debt related to the Private Education Loan asset-backed securitization repurchase facility (“Repurchase Facility”) as of both March 31, 2016 and December 31, 2015. (2) “Other” primarily consists of the obligation to return cash collateral held related to derivative exposure. Variable Interest Entities We consolidated the following financing VIEs as of March 31, 2016 and December 31, 2015, as we are the primary beneficiary. As a result, these VIEs are accounted for as secured borrowings. March 31, 2016 Debt Outstanding Carrying Amount of Assets Securing (Dollars in millions) Short Long Total Loans Cash Other Total Secured Borrowings — VIEs: FFELP Loan securitizations $ — $ 76,411 $ 76,411 $ 76,941 $ 2,783 $ 668 $ 80,392 Private Education Loan securitizations (1) — 16,557 16,557 21,936 520 300 22,756 FFELP Loan — other facilities — 12,846 12,846 13,300 317 178 13,795 Private Education Loan — other facilities 369 — 369 551 10 17 578 Total before hedge accounting adjustments 369 105,814 106,183 112,728 3,630 1,163 117,521 Hedge accounting adjustments — (522 ) (522 ) — — (521 ) (521 ) Total $ 369 $ 105,292 $ 105,661 $ 112,728 $ 3,630 $ 642 $ 117,000 December 31, 2015 Debt Outstanding Carrying Amount of Assets Securing (Dollars in millions) Short Long Total Loans Cash Other Total Secured Borrowings — VIEs: FFELP Loan securitizations $ — $ 77,764 $ 77,764 $ 78,358 $ 2,760 $ 682 $ 81,800 Private Education Loan securitizations (1) — 16,900 16,900 22,014 452 323 22,789 FFELP Loan — other facilities — 12,676 12,676 13,158 324 168 13,650 Private Education Loan — other facilities 710 — 710 1,110 17 31 1,158 Total before hedge accounting adjustments 710 107,340 108,050 114,640 3,553 1,204 119,397 Hedge accounting adjustments — (830 ) (830 ) — — (911 ) (911 ) Total $ 710 $ 106,510 $ 107,220 $ 114,640 $ 3,553 $ 293 $ 118,486 (1) Includes $546 million of long-term debt related to the Repurchase Facility as of both March 31, 2016 and December 31, 2015. Includes $36 million and $41 million of restricted cash related to the Repurchase Facility as of March 31, 2016 and December 31, 2015, respectively.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	4. Derivative Financial Instruments Our risk management strategy and use of and accounting for derivatives have not materially changed from that discussed in our 2015 Form 10-K. Please refer to “Note 7 — Derivative Financial Instruments” in our 2015 Form 10-K for a full discussion. Summary of Derivative Financial Statement Impact The following tables summarize the fair values and notional amounts of all derivative instruments at March 31, 2016 and December 31, 2015, and their impact on other comprehensive income and earnings for the three months ended March 31, 2016 and 2015. Impact of Derivatives on Consolidated Balance Sheet Cash Flow Fair Value Trading Total (Dollars in millions) Hedged Risk Exposure Mar. 31, Dec. 31, Mar. 31, Dec. 31, Mar. 31, Dec. 31, Mar. 31, Dec. 31, Fair Values (1) Derivative Assets: Interest rate swaps Interest rate $ — $ — $ 935 $ 694 $ 79 $ 32 $ 1,014 $ 726 Cross-currency interest rate swaps Foreign currency — — 28 2 — — 28 2 Other (2) Interest rate — — — — 1 — 1 — Total derivative assets (3) — — 963 696 80 32 1,043 728 Derivative Liabilities: Interest rate swaps Interest rate (218 ) (89 ) — (3 ) (62 ) (68 ) (280 ) (160 ) Floor Income Contracts Interest rate — — — — (349 ) (365 ) (349 ) (365 ) Cross-currency interest rate swaps Foreign currency — — (578 ) (926 ) (42 ) (62 ) (620 ) (988 ) Other (2) Interest rate — — — — (5 ) (2 ) (5 ) (2 ) Total derivative liabilities (3) (218 ) (89 ) (578 ) (929 ) (458 ) (497 ) (1,254 ) (1,515 ) Net total derivatives $ (218 ) $ (89 ) $ 385 $ (233 ) $ (378 ) $ (465 ) $ (211 ) $ (787 ) (1) Fair values reported are exclusive of collateral held and pledged and accrued interest. Assets and liabilities are presented without consideration of master netting agreements. Derivatives are carried on the balance sheet based on net position by counterparty under master netting agreements, and classified in other assets or other liabilities depending on whether in a net positive or negative position. (2) “Other” includes embedded derivatives bifurcated from securitization debt as well as derivatives related to our Total Return Swap Facility. (3) The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification: Other Assets Other Liabilities (Dollar in millions) March 31, December 31, March 31, December 31, Gross position $ 1,043 $ 728 $ (1,254 ) $ (1,515 ) Impact of master netting agreements (26 ) (50 ) 26 50 Derivative values with impact of master netting 1,017 678 (1,228 ) (1,465 ) Cash collateral (held) pledged (875 ) (759 ) 392 466 Net position $ 142 $ (81 ) $ (836 ) $ (999 ) The above fair values include adjustments for counterparty credit risk both for when we are exposed to the counterparty, net of collateral postings, and when the counterparty is exposed to us, net of collateral postings. The net adjustments decreased the overall net asset positions at March 31, 2016 and December 31, 2015 by $12 million and $1 million, respectively. In addition, the above fair values reflect adjustments for illiquid derivatives as indicated by a wide bid/ask spread in the interest rate indices to which the derivatives are indexed. These adjustments decreased the overall net asset positions at March 31, 2016 and December 31, 2015 by $23 million and $31 million, respectively. Cash Flow Fair Value Trading Total (Dollars in billions) Mar. 31, Dec. 31, Mar. 31, Dec. 31, Mar. 31, Dec. 31, Mar. 31, Dec. 31, Notional Values: Interest rate swaps $ 16.6 $ 9.5 $ 11.7 $ 12.6 $ 33.4 $ 33.8 $ 61.7 $ 55.9 Floor Income Contracts — — — — 25.2 35.1 25.2 35.1 Cross-currency interest rate swaps — — 8.9 9.1 .3 .3 9.2 9.4 Other (1) — — — — 3.1 3.2 3.1 3.2 Total derivatives $ 16.6 $ 9.5 $ 20.6 $ 21.7 $ 62.0 $ 72.4 $ 99.2 $ 103.6 (1) “Other” includes embedded derivatives bifurcated from securitization debt as well as derivatives related to our Total Return Swap Facility. Impact of Derivatives on Consolidated Statements of Income Three Months Ended March 31, Unrealized Gain (1)(2) Realized Gain (3) Unrealized Gain (1) Total Gain (Loss) (Dollars in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Fair Value Hedges: Interest rate swaps $ 244 $ 121 $ 71 $ 95 $ (280 ) $ (130 ) $ 35 $ 86 Cross-currency interest rate swaps 374 (842 ) (16 ) 2 (306 ) 988 52 148 Total fair value derivatives 618 (721 ) 55 97 (586 ) 858 87 234 Cash Flow Hedges: Interest rate swaps — — — — — — — — Total cash flow derivatives — — — — — — — — Trading: Interest rate swaps 53 18 10 11 — — 63 29 Floor Income Contracts 27 72 (138 ) (162 ) — — (111 ) (90 ) Cross-currency interest rate swaps 20 (1 ) (1 ) (1 ) — — 19 (2 ) Other (2 ) (2 ) — (1 ) — — (2 ) (3 ) Total trading derivatives 98 87 (129 ) (153 ) — — (31 ) (66 ) Total 716 (634 ) (74 ) (56 ) (586 ) 858 56 168 Less: realized gains (losses) recorded in interest expense — — 55 97 — — 55 97 Gains (losses) on derivative and hedging activities, net $ 716 $ (634 ) $ (129 ) $ (153 ) $ (586 ) $ 858 $ 1 $ 71 (1) Recorded in “Gains (losses) on derivative and hedging activities, net” in the consolidated statements of income. (2) Represents ineffectiveness related to cash flow hedges. (3) For fair value and cash flow hedges, recorded in interest expense. For trading derivatives, recorded in “Gains (losses) on derivative and hedging activities, net.” Collateral Collateral held and pledged related to derivative exposures between us and our derivative counterparties are detailed in the following table: (Dollars in millions) March 31, December 31, Collateral held: Cash (obligation to return cash collateral is recorded in short-term borrowings) (1) $ 875 $ 759 Securities at fair value — on-balance sheet securitization derivatives (not recorded in financial statements) (2) 398 301 Total collateral held $ 1,273 $ 1,060 Derivative asset at fair value including accrued interest $ 1,160 $ 896 Collateral pledged to others: Cash (right to receive return of cash collateral is recorded in investments) $ 392 $ 466 Total collateral pledged $ 392 $ 466 Derivative liability at fair value including accrued interest and premium receivable $ 1,201 $ 1,395 (1) At March 31, 2016 and December 31, 2015, $0 million and $2 million, respectively, were held in restricted cash accounts. (2) The trusts do not have the ability to sell or re-pledge securities they hold as collateral. Our corporate derivatives contain credit contingent features. At our current unsecured credit rating, we have fully collateralized our corporate derivative liability position (including accrued interest and net of premiums receivable) of $631 million with our counterparties. Downgrades in our unsecured credit rating would not result in any additional collateral requirements, except to increase the frequency of collateral calls. Two counterparties have the right to terminate the contracts based on our current unsecured credit rating. We are currently in an asset position with these derivative counterparties (including accrued interest and net of premiums receivable). Trust related derivatives do not contain credit contingent features related to our or the trusts’ credit ratings.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	5. Other Assets The following table provides the detail of our other assets. (Dollars in millions) March 31, December 31, Accrued interest receivable, net $ 1,575 $ 1,646 Derivatives at fair value 1,017 678 Income tax asset, net current and deferred 860 906 Benefit and insurance-related investments 484 491 Accounts receivable 169 329 Fixed assets, net 161 162 Other loans, net 68 70 Other 363 400 Total $ 4,697 $ 4,682

Business Combinations - Acquisi

Business Combinations - Acquisition of Gila LLC and Xtend Healthcare	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Business Combinations - Acquisition of Gila LLC and Xtend Healthcare	6. Business Combinations — Acquisition of Gila LLC and Xtend Healthcare Acquisitions are accounted for under the acquisition method of accounting as defined in ASC 805, “Business Combinations.” The Company allocates the purchase price to the fair value of the acquired tangible assets, liabilities and identifiable intangible assets as of the acquisition date as determined by an independent appraiser. During 2015, Navient completed acquisitions of Gila LLC and Xtend Healthcare. Navient has not disclosed the pro forma impact of these acquisitions to the results of operations for the three months ended March 31, 2015, as the pro forma impact was deemed immaterial. Acquisition of Gila LLC During February 2015, the Company acquired a 98 percent majority controlling interest in Gila LLC for approximately $185 million. Gila LLC is an asset recovery and business processing firm. The firm provides receivables management services and account processing solutions for state governments, agencies, court systems and municipalities. The results of operations of Gila LLC have been included in Navient’s consolidated financial statements since the acquisition date and are reflected in Navient’s Business Services segment. As of September 2015, the Company finalized its purchase price allocation for Gila LLC which resulted in an excess purchase price over the fair value of net assets acquired, or goodwill, of $97 million. Identifiable intangible assets at the acquisition date included the Gila LLC trade name, an indefinite life intangible asset, with an aggregate estimated fair value of approximately $13 million as of the acquisition date as well as definite life intangible assets with an estimated aggregate fair value of approximately $71 million as of the acquisition date. These definite life intangible assets consist primarily of customer relationships which will be amortized over 2 to 16 years depending on the economic benefit derived from each of the underlying assets. Acquisition of Xtend Healthcare During October 2015, Navient acquired a 91 percent controlling interest in Xtend Healthcare for approximately $164 million. Xtend Healthcare is a health care revenue cycle management company that provides health insurance claims billing and account resolution, as well as patient billing and customer service. The results of operations of Xtend Healthcare have been included in Navient’s consolidated financial statements since the acquisition date and are reflected in Navient’s Business Services segment. The Company’s purchase price allocation as of March 31, 2016 is preliminary as the Company is awaiting the final results of a valuation that is being performed by an independent appraiser. We anticipate the purchase price allocation will be completed by the end of the second quarter of 2016. The preliminary estimate of goodwill is $101 million. Identifiable intangible assets at the acquisition date include the Xtend Healthcare trade name, an indefinite life intangible asset, with a preliminary estimated aggregate fair value of approximately $15 million as of the acquisition date. Definite life intangible assets with preliminary estimated aggregate fair values of approximately $51 million as of the acquisition date consist primarily of customer relationships. During the first-quarter 2016, there were no other changes or adjustments to goodwill and intangible assets.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Stockholders' Equity	7. Stockholders’ Equity The following table summarizes common share repurchases and issuances. Three Months Ended March 31, 2016 2015 Common shares repurchased (1) 19,210,281 14,653,835 Average purchase price per share $ 10.42 $ 20.49 Shares repurchased related to employee stock-based compensation plans (2) 986,273 1,644,764 Average purchase price per share $ 9.96 $ 20.86 Common shares issued (3) 2,499,585 3,585,238 (1) Common shares purchased under our share repurchase programs. (2) Comprises shares withheld from stock option exercises and vesting of restricted stock for employees’ tax withholding obligations and shares tendered by employees to satisfy option exercise costs. (3) Common shares issued under our various compensation and benefit plans. The closing price of our common stock on March 31, 2016 was $11.97. Dividend and Share Repurchase Program In March 2016, we paid a common stock dividend of $0.16 per share. We repurchased 19.2 million shares of common stock for $200 million in the first quarter of 2016. The shares were repurchased under our previously disclosed share repurchase programs. As of March 31, 2016, the remaining repurchase authority was $555 million. In the first quarter of 2015, we repurchased 14.7 million shares for $300 million.

Earnings per Common Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings per Common Share	8. Earnings per Common Share Basic earnings per common share (“EPS”) are calculated using the weighted average number of shares of common stock outstanding during each period. A reconciliation of the numerators and denominators of the basic and diluted EPS calculations follows. Three Months Ended (In millions, except per share data) 2016 2015 Numerator: Net income attributable to Navient Corporation $ 181 $ 292 Denominator: Weighted average shares used to compute basic EPS 339 398 Effect of dilutive securities: Dilutive effect of stock options, non-vested restricted stock, restricted stock units and Employee Stock Purchase Plans (“ESPPs”) (1) 4 7 Dilutive potential common shares (2) 4 7 Weighted average shares used to compute diluted EPS 343 405 Basic earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .53 $ .73 Discontinued operations — — Total $ .53 $ .73 Diluted earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .53 $ .72 Discontinued operations — — Total $ .53 $ .72 (1) Includes the potential dilutive effect of additional common shares that are issuable upon exercise of outstanding stock options, non-vested restricted stock, restricted stock units, and the outstanding commitment to issue shares under applicable ESPPs, determined by the treasury stock method. (2) For the three months ended March 31, 2016 and 2015, stock options covering approximately 9 million and 4 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	9. Fair Value Measurements We use estimates of fair value in applying various accounting standards in our financial statements. We categorize our fair value estimates based on a hierarchical framework associated with three levels of price transparency utilized in measuring financial instruments at fair value. Please refer to “Note 12 — Fair Value Measurements” in our 2015 Form 10-K for a full discussion. During the three months ended March 31, 2016, there were no significant transfers of financial instruments between levels, or changes in our methodology or assumptions used to value our financial instruments. The following table summarizes the valuation of our financial instruments that are marked-to-market on a recurring basis. Fair Value Measurements on a Recurring Basis March 31, 2016 December 31, 2015 (Dollars in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Available-for-sale investments: Agency residential mortgage-backed securities $ — $ 1 $ — $ 1 $ — $ 1 $ — $ 1 Other — 4 — 4 — 4 — 4 Total available-for-sale investments — 5 — 5 — 5 — 5 Derivative instruments: (1) Interest rate swaps — 985 29 1,014 — 709 17 726 Cross-currency interest rate swaps — — 28 28 — — 2 2 Other — — 1 1 — — — — Total derivative assets (3) — 985 58 1,043 — 709 19 728 Total $ — $ 990 $ 58 $ 1,048 $ — $ 714 $ 19 $ 733 Liabilities (2) Derivative instruments (1) Interest rate swaps $ — $ (219 ) $ (61 ) $ (280 ) $ — $ (99 ) $ (61 ) $ (160 ) Floor Income Contracts — (349 ) — (349 ) — (365 ) — (365 ) Cross-currency interest rate swaps — (64 ) (556 ) (620 ) — (83 ) (905 ) (988 ) Other — — (5 ) (5 ) — — (2 ) (2 ) Total derivative liabilities (3) — (632 ) (622 ) (1,254 ) — (547 ) (968 ) (1,515 ) Total $ — $ (632 ) $ (622 ) $ (1,254 ) $ — $ (547 ) $ (968 ) $ (1,515 ) (1) Fair value of derivative instruments excludes accrued interest and the value of collateral. (2) Borrowings which are the hedged items in a fair value hedge relationship and which are adjusted for changes in value due to benchmark interest rates only are not carried at full fair value and are not reflected in this table. (3) See “Note 4 — Derivative Financial Instruments” for a reconciliation of gross positions without the impact of master netting agreements to the balance sheet classification. The following tables summarize the change in balance sheet carrying value associated with level 3 financial instruments carried at fair value on a recurring basis. Three Months Ended March 31, 2016 2015 Derivative instruments Derivative instruments (Dollars in millions) Interest Cross Other Total Interest Cross Other Total Balance, beginning of period $ (44 ) $ (903 ) $ (2 ) $ (949 ) $ (88 ) $ (117 ) $ (11 ) $ (216 ) Total gains/(losses) (realized and unrealized): Included in earnings (1) 11 358 (2 ) 367 1 (840 ) (3 ) (842 ) Included in other comprehensive income — — — — — — — — Settlements 1 17 — 18 (1 ) (1 ) 1 (1 ) Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (32 ) $ (528 ) $ (4 ) $ (564 ) $ (88 ) $ (958 ) $ (13 ) $ (1,059 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ 12 $ 375 $ (2 ) $ 385 $ — $ (838 ) $ (2 ) $ (840 ) (1) “Included in earnings” is comprised of the following amounts recorded in the specified line item in the consolidated statements of income: Three Months Ended March 31, (Dollars in millions) 2016 2015 Gains (losses) on derivative and hedging activities, net $ 384 $ (843 ) Interest expense (17 ) 1 Total $ 367 $ (842 ) (2) Recorded in “gains (losses) on derivative and hedging activities, net” in the consolidated statements of income. The following table presents the significant inputs that are unobservable or from inactive markets used in the recurring valuations of the level 3 financial instruments detailed above. (Dollars in millions) Fair Value at Valuation Input Range Derivatives Consumer Price Index/LIBOR basis swaps $ 11 Discounted cash flow Bid/ask adjustment to discount rate .02% — .05% (.05%) Prime/LIBOR basis swaps (43 ) Discounted cash flow Constant prepayment rate 4.9% Bid/ask adjustment to .03% — .05% (.03%) Cross-currency interest rate swaps (528 ) Discounted cash flow Constant prepayment rate 2.8% Other (4 ) Total $ (564 ) The significant inputs that are unobservable or from inactive markets related to our level 3 derivatives detailed in the table above would be expected to have the following impacts to the valuations: • Consumer Price Index/LIBOR basis swaps — These swaps do not actively trade in the markets as indicated by a wide bid/ask spread. A wider bid/ask spread will result in a decrease in the overall valuation. • Prime/LIBOR basis swaps — These swaps do not actively trade in the markets as indicated by a wide bid/ask spread. A wider bid/ask spread will result in a decrease in the overall valuation. In addition, the unobservable inputs include Constant Prepayment Rates of the underlying securitization trust the swap references. A decrease in this input will result in a longer weighted average life of the swap which will increase the value for swaps in a gain position and decrease the value for swaps in a loss position, everything else equal. The opposite is true for an increase in the input. • Cross-currency interest rate swaps — The unobservable inputs used in these valuations are Constant Prepayment Rates of the underlying securitization trust the swap references. A decrease in this input will result in a longer weighted average life of the swap. All else equal in a typical currency market, this will result in a decrease to the valuation due to the delay in the cash flows of the currency exchanges as well as diminished liquidity in the forward exchange markets as you increase the term. The opposite is true for an increase in the input. The following table summarizes the fair values of our financial assets and liabilities, including derivative financial instruments. March 31, 2016 December 31, 2015 (Dollars in millions) Fair Carrying Difference Fair Carrying Difference Earning assets FFELP Loans $ 92,550 $ 95,018 $ (2,468 ) $ 94,377 $ 96,498 $ (2,121 ) Private Education Loans 24,716 25,547 (831 ) 25,772 26,394 (622 ) Cash and investments (1) 5,413 5,413 — 5,833 5,833 — Total earning assets 122,679 125,978 (3,299 ) 125,982 128,725 (2,743 ) Interest-bearing liabilities Short-term borrowings 2,370 2,363 (7 ) 2,569 2,570 1 Long-term borrowings 115,815 122,920 7,105 118,471 124,833 6,362 Total interest-bearing liabilities 118,185 125,283 7,098 121,040 127,403 6,363 Derivative financial instruments Floor Income Contracts (349 ) (349 ) — (365 ) (365 ) — Interest rate swaps 734 734 — 566 566 — Cross-currency interest rate swaps (592 ) (592 ) — (986 ) (986 ) — Other (4 ) (4 ) — (2 ) (2 ) — Excess of net asset fair value over carrying value $ 3,799 $ 3,620 (1) “Cash and investments” includes available-for-sale investments that consist of investments that are primarily agency securities whose cost basis is $4 million and $4 million at March 31, 2016 and December 31, 2015, respectively, versus a fair value of $5 million and $5 million at March 31, 2016 and December 31, 2015, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Regulatory Matters On May 2, 2014, Navient Solutions, Inc. (“NSI”), a wholly-owned subsidiary of Navient, and Sallie Mae Bank entered into consent orders with the Federal Deposit Insurance Corporation (the “FDIC”) (respectively, the “NSI Order” and the “Bank Order”; collectively, the “FDIC Orders”) to resolve matters related to certain cited violations of Section 5 of the Federal Trade Commission Act, including the disclosures and assessments of certain late fees, as well as alleged violations under the Servicemembers Civil Relief Act (the “SCRA”). The FDIC Orders, which became effective upon the signing of the consent order with the United States Department of Justice (the “DOJ”) by NSI and SLM BankCo on May 13, 2014, required NSI to pay $3.3 million in civil monetary penalties. NSI paid its civil monetary penalties. In addition, the FDIC Orders required the establishment of a restitution reserve account totaling $30 million to provide restitution with respect to loans owned or originated by Sallie Mae Bank, from November 28, 2005 until the effective date of the FDIC Orders. Pursuant to the Separation and Distribution Agreement among SLM Corporation, SLM BankCo and Navient dated as of April 28, 2014 (the “Separation Agreement”), Navient funded the restitution reserve account in May 2014. The NSI Order also required NSI to ensure proper servicing for service members and proper application of SCRA benefits under a revised and broader definition of eligibility than previously required by the statute and regulatory guidance and to make changes to billing statements and late fee practices. These changes to billing statements and late fee practices have already been implemented. NSI also decided to voluntarily make restitution of certain late fees to all other customers whose loans were neither owned nor originated by Sallie Mae Bank. They were calculated in the same manner as that which was required under the FDIC Orders and are estimated to be $42 million. The process to refund these fees as well as amounts from the restitution fund is substantially complete. With respect to alleged civil violations of the SCRA, NSI and Sallie Mae Bank entered into a consent order with the DOJ in May 2014. The DOJ consent order (the “DOJ Order”) covers all loans either owned by Sallie Mae Bank or serviced by NSI from November 28, 2005 until the effective date of the settlement. The DOJ Order required NSI to fund a $60 million settlement fund, which represents the total amount of compensation due to service members under the DOJ agreement, and to pay $55,000 in civil penalties. The DOJ Order was approved by the United States District Court in Delaware on September 29, 2014. Shortly thereafter, Navient funded the settlement fund and paid the civil penalties pursuant to the terms of the order. On April 15, 2015, the DOJ approved the distribution plan for the settlement fund and the funds were disbursed in the second quarter of 2015. The total reserves established by the Company in 2013 and 2014 to cover these costs were $177 million, and as of March 31, 2016, substantially all of this amount had been paid or credited or refunded to customer accounts. The final cost of these proceedings will remain uncertain until all of the work under the various consent orders has been completed and the consent orders are lifted. As previously disclosed, the Company and various of its subsidiaries are subject to the following investigations and inquiries: • In December 2013, Navient received Civil Investigative Demands (“CIDs”) issued by the State of Illinois Office of Attorney General and the State of Washington Office of the Attorney General and multiple other state Attorneys General. According to the CIDs, the investigations were initiated to ascertain whether any practices declared to be unlawful under the Consumer Fraud and Deceptive Business Practices Act have occurred or are about to occur. • In April 2014, NSI received a CID from the Consumer Financial Protection Bureau (the “CFPB”) as part of the CFPB’s separate investigation regarding allegations relating to Navient’s disclosures and assessment of late fees and other matters. Navient has received a series of supplemental CIDs on these matters. On August 19, 2015, NSI received a letter from the CFPB notifying NSI that, in accordance with the CFPB’s discretionary Notice and Opportunity to Respond and Advise (“NORA”) process, the CFPB’s Office of Enforcement is considering recommending that the CFPB take legal action against NSI. The NORA letter relates to a previously disclosed investigation into NSI’s disclosures and assessment of late fees and other matters and states that, in connection with any action, the CFPB may seek restitution, civil monetary penalties and corrective action against NSI. The Company responded to the NORA letter on September 10, 2015. • In November 2014, Navient’s subsidiary, Pioneer Credit Recovery, Inc. (“Pioneer”), received a CID from the CFPB as part of the CFPB’s investigation regarding Pioneer’s activities relating to rehabilitation loans and collection of defaulted student debt. The CFPB has informed the Company that they have combined this matter with the aforementioned servicing matter. • In December 2014, NSI received a subpoena from the New York Department of Financial Services (the “NY DFS”) as part of the NY DFS’s inquiry with regard to whether persons or entities have engaged in fraud or misconduct with respect to a financial product or service under New York Financial Services Law or other laws. We have been in discussions with each of these regulatory entities or bodies and are cooperating with these investigations, inquiries or examinations and are committed to resolving any potential concerns. It is not possible at this time to estimate a range of potential exposure, if any, for amounts that may be payable in connection with these matters and reserves have not been established. In addition, Navient and its subsidiaries are subject to examination by the CFPB, FDIC, ED and various state agencies as part of its ordinary course of business. Items or matters similar to or different from those described above may arise during the course of those examinations. We also routinely receive inquiries or requests from various regulatory entities or bodies or government agencies concerning our business or our assets. The Company endeavors to cooperate with each such inquiry or request. Under the terms of the Separation Agreement, Navient has agreed to be responsible and indemnify SLM BankCo for all claims, actions, damages, losses or expenses that may arise from the conduct of all activities of pre-Spin-Off SLM BankCo occurring prior to the Spin-Off other than those specifically excluded in the Separation and Distribution Agreement. As a result, all liabilities arising out of the regulatory matters mentioned above, other than fines or penalties directly levied against Sallie Mae Bank, are the responsibility of, or assumed by, Navient or one of its subsidiaries, and Navient has agreed to indemnify and hold harmless Sallie Mae and its subsidiaries, including Sallie Mae Bank, therefrom. Navient has no additional reserves related to indemnification matters with SLM BankCo as of March 31, 2016. OIG Audit The Office of the Inspector General (the “OIG”) of ED commenced an audit regarding Special Allowance Payments (“SAP”) on September 10, 2007. On September 25, 2013, we received the final audit determination of Federal Student Aid (the “Final Audit Determination”) on the final audit report issued by the OIG on August 3, 2009 related to this audit. The Final Audit Determination concurred with the final audit report issued by the OIG and instructed us to make adjustment to our government billing to reflect the policy determination. Navient remains in active discussions with ED on this matter and we also have the right to appeal the Final Audit Determination to the Administrative Actions and Appeals Service Group of ED. The period to file an appeal in this matter has not expired. We continue to believe that our SAP billing practices were proper, considering then-existing ED guidance and lack of applicable regulations. The Company established a reserve for this matter in 2014 as part of the total reserve for pending regulatory matters discussed previously. Contingencies In the ordinary course of business, we and our subsidiaries are defendants in or parties to pending and threatened legal actions and proceedings including actions brought on behalf of various classes of claimants. These actions and proceedings may be based on alleged violations of consumer protection, securities, employment and other laws. In certain of these actions and proceedings, claims for substantial monetary damage are asserted against us and our subsidiaries. In the ordinary course of business, we and our subsidiaries are subject to regulatory examinations, information gathering requests, inquiries and investigations. In connection with formal and informal inquiries in these cases, we and our subsidiaries receive numerous requests, subpoenas and orders for documents, testimony and information in connection with various aspects of our regulated activities. In view of the inherent difficulty of predicting the outcome of such litigation and regulatory matters, we cannot predict what the eventual outcome of the pending matters will be, what the timing or the ultimate resolution of these matters will be, or what the eventual loss, fines or penalties related to each pending matter may be. We are required to establish reserves for litigation and regulatory matters where those matters present loss contingencies that are both probable and estimable. When loss contingencies are not both probable and estimable, we do not establish reserves. Based on current knowledge, reserves have been established for certain litigation or regulatory matters where the loss is both probable and estimable. Based on current knowledge, management does not believe that loss contingencies, if any, arising from pending investigations, litigation or regulatory matters will have a material adverse effect on our consolidated financial position, liquidity, results of operations or cash flows.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	11. Segment Reporting FFELP Loans Segment In the FFELP Loans segment, we acquire and finance FFELP Loans. Even though FFELP Loans are no longer originated due to changes in federal law that took effect in 2010, we continue to pursue acquisitions of FFELP Loan portfolios that leverage our servicing scale and generate incremental earnings and cash flow. In this segment, we primarily earn net interest income on the FFELP Loan portfolio (after provision for loan losses). This segment is expected to generate significant amounts of earnings and cash flow as the portfolio amortizes. The following table includes GAAP basis asset information for our FFELP Loans segment. (Dollars in millions) March 31, December 31, FFELP Loans, net $ 95,018 $ 96,498 Cash and investments (1) 3,500 3,572 Other 1,918 2,015 Total assets $ 100,436 $ 102,085 (1) Includes restricted cash and investments. Private Education Loans Segment In this segment, we acquire, finance and service Private Education Loans. Even though we no longer originate Private Education Loans, we continue to pursue acquisitions of Private Education Loan portfolios that leverage our servicing scale and generate incremental earnings and cash flow. In this segment, we primarily earn net interest income on the Private Education Loan portfolio (after provision for loan losses). This segment is expected to generate significant amounts of earnings and cash flow as the portfolio amortizes. The following table includes GAAP basis asset information for our Private Education Loans segment. (Dollars in millions) March 31, December 31, Private Education Loans, net $ 25,547 $ 26,394 Cash and investments (1) 672 596 Other 2,074 1,988 Total assets $ 28,293 $ 28,978 (1) Includes restricted cash and investments. Business Services Segment Our Business Services segment generates revenue from servicing, asset recovery and business processing activities. Within this segment, we primarily generate revenue from servicing our FFELP Loan portfolio as well as servicing education loans for Guarantors of FFELP Loans and other institutions, including ED. We provide asset recovery services for loans and receivables on behalf of Guarantors of FFELP Loans, higher education institutions and federal, state, court and municipal clients. In addition, we provide business processing services on behalf of municipalities, public authorities and hospitals. At March 31, 2016 and December 31, 2015, the Business Services segment had total assets of $654 million and $657 million, respectively, on a GAAP basis. Other Segment Our Other segment primarily consists of activities of our holding company, including the repurchase of debt, our corporate liquidity portfolio, unallocated overhead and regulatory-related costs. We also include results from certain smaller wind-down operations within this segment. Overhead expenses include costs related to executive management, the board of directors, accounting, finance, legal, human resources, stock-based compensation expense and certain information technology costs related to infrastructure and operations. Regulatory-related costs include actual settlement amounts as well as third-party professional fees we incur in connection with regulatory matters. At March 31, 2016 and December 31, 2015, the Other segment had total assets of $2.0 billion and $2.4 billion, respectively, on a GAAP basis. Measure of Profitability We prepare financial statements in accordance with GAAP. However, we also evaluate our business segments on a basis that differs from GAAP. We refer to this different basis of presentation as “Core Earnings.” We provide this “Core Earnings” basis of presentation on a consolidated basis for each business segment because this is what we review internally when making management decisions regarding our performance and how we allocate resources. We also refer to this information in our presentations with credit rating agencies, lenders and investors. Because our “Core Earnings” basis of presentation corresponds to our segment financial presentations, we are required by GAAP to provide “Core Earnings” disclosure in the notes to our consolidated financial statements for our business segments. “Core Earnings” are not a substitute for reported results under GAAP. We use “Core Earnings” to manage each business segment because “Core Earnings” reflect adjustments to GAAP financial results for three items, discussed below, that are either related to the Spin-Off or create significant volatility mostly due to timing factors generally beyond the control of management. Accordingly, we believe that “Core Earnings” provide management with a useful basis from which to better evaluate results from ongoing operations against the business plan or against results from prior periods. Consequently, we disclose this information because we believe it provides investors with additional information regarding the operational and performance indicators that are most closely assessed by management. When compared to GAAP results, the three items we remove to result in our “Core Earnings” presentations are: 1. The financial results attributable to the operations of SLM BankCo prior to the Spin-Off and related restructuring and other reorganization expense incurred in connection with the Spin-Off, including the restructuring expenses related to the restructuring initiative launched in second-quarter 2015 to simplify and streamline the Company’s management structure post-Spin-Off. For GAAP purposes, Navient reflected the deemed distribution of SLM BankCo on April 30, 2014. For “Core Earnings,” we exclude the consumer banking business as if it had never been a part of Navient’s historical results prior to the deemed distribution of SLM BankCo on April 30, 2014; 2. Unrealized mark-to-market gains/losses resulting from our use of derivative instruments to hedge our economic risks that do not qualify for hedge accounting treatment or do qualify for hedge accounting treatment but result in ineffectiveness; and 3. The accounting for goodwill and acquired intangible assets. While GAAP provides a uniform, comprehensive basis of accounting, for the reasons described above, our “Core Earnings” basis of presentation does not. “Core Earnings” are subject to certain general and specific limitations that investors should carefully consider. For example, there is no comprehensive, authoritative guidance for management reporting. Our “Core Earnings” are not defined terms within GAAP and may not be comparable to similarly titled measures reported by other companies. Accordingly, our “Core Earnings” presentation does not represent a comprehensive basis of accounting. Investors, therefore, may not be able to compare our performance with that of other financial services companies based upon “Core Earnings.” “Core Earnings” results are only meant to supplement GAAP results by providing additional information regarding the operational and performance indicators that are most closely used by management, our board of directors, credit rating agencies, lenders and investors to assess performance. Segment Results and Reconciliations to GAAP Three Months Ended March 31, 2016 (Dollars in millions) FFELP Private Business Other Eliminations (1) Total Adjustments Total Reclassifications Additions/ Total (2) Interest income: Education loans $ 555 $ 411 $ — $ — $ — $ 966 $ 138 $ (59 ) $ 79 $ 1,045 Other loans — — — 1 — 1 — — — 1 Cash and investments 3 1 — 1 — 5 — — — 5 Total interest income 558 412 — 2 — 972 138 (59 ) 79 1,051 Total interest expense 358 172 — 26 — 556 9 — 9 565 Net interest income (loss) 200 240 — (24 ) — 416 129 (59 ) 70 486 Less: provisions for loan losses 7 104 — — — 111 — — — 111 Net interest income (loss) after provisions for loan losses 193 136 — (24 ) — 305 129 (59 ) 70 375 Other income (loss): Servicing revenue 16 4 163 — (101 ) 82 — — — 82 Asset recovery and business processing revenue — — 90 — — 90 — — — 90 Other income (loss) — — 1 3 — 4 (129 ) 113 (16 ) (12 ) Gains (losses) on sales of loans and investments — — — — — — — — — — Gains on debt repurchases — — — — — — — — — — Total other income (loss) 16 4 254 3 (101 ) 176 (129 ) 113 (16 ) 160 Expenses: Direct operating expenses 104 43 134 6 (101 ) 186 — — — 186 Overhead expenses — — — 61 — 61 — — — 61 Operating expenses 104 43 134 67 (101 ) 247 — — — 247 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 4 4 4 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 104 43 134 67 (101 ) 247 — 4 4 251 Income (loss) from continuing operations, before income tax expense (benefit) 105 97 120 (88 ) — 234 — 50 50 284 Income tax expense (benefit) (3) 39 36 45 (33 ) — 87 — 16 16 103 Net income (loss) from continuing operations 66 61 75 (55 ) — 147 — 34 34 181 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 66 $ 61 $ 75 $ (55 ) $ — $ 147 $ — $ 34 $ 34 $ 181 (1) The eliminations in servicing revenue and direct operating expense represent the elimination of intercompany servicing revenue where the Business Services segment performs the loan servicing function for the FFELP Loans segment. (2) “Core Earnings” adjustments to GAAP: Three Months Ended March 31, 2016 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 70 $ — $ 70 Total other income (loss) — (16 ) — (16 ) Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 4 4 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ 54 $ (4 ) 50 Income tax expense 16 Net income $ 34 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Three Months Ended March 31, 2015 (Dollars in millions) FFELP Private Business Other Eliminations (1) Total Adjustments Total Reclassifications Additions/ Total (2) Interest income: Education loans $ 534 $ 456 $ — $ — $ — $ 990 $ 162 $ (59 ) $ 103 $ 1,093 Other loans — — — 2 — 2 — — — 2 Cash and investments 1 — — 1 — 2 — — — 2 Total interest income 535 456 — 3 — 994 162 (59 ) 103 1,097 Total interest expense 302 173 — 30 — 505 9 — 9 514 Net interest income (loss) 233 283 — (27 ) — 489 153 (59 ) 94 583 Less: provisions for loan losses 5 120 — — — 125 — — — 125 Net interest income (loss) after provisions for loan losses 228 163 — (27 ) — 364 153 (59 ) 94 458 Other income (loss): Servicing revenue 18 7 163 — (111 ) 77 — — — 77 Asset recovery and business processing revenue — — 89 — — 89 — — — 89 Other income (loss) — — 2 4 — 6 (153 ) 225 72 78 Gains on sales of loans and investments 5 — — — — 5 — — — 5 Gains on debt repurchases — — — — — — — — — — Total other income (loss) 23 7 254 4 (111 ) 177 (153 ) 225 72 249 Expenses: Direct operating expenses 115 46 116 4 (111 ) 170 — — — 170 Overhead expenses — — — 60 — 60 — — — 60 Operating expenses 115 46 116 64 (111 ) 230 — — — 230 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 1 1 1 Restructuring and other reorganization expenses — — — — — — — 3 3 3 Total expenses 115 46 116 64 (111 ) 230 — 4 4 234 Income (loss) from continuing operations, before income tax expense (benefit) 136 124 138 (87 ) — 311 — 162 162 473 Income tax expense (benefit) (3) 51 47 52 (33 ) — 117 — 64 64 181 Net income (loss) from continuing operations $ 85 $ 77 $ 86 $ (54 ) $ — $ 194 $ — $ 98 $ 98 $ 292 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 85 $ 77 $ 86 $ (54 ) $ — $ 194 $ — $ 98 $ 98 $ 292 (1) The eliminations in servicing revenue and direct operating expense represent the elimination of intercompany servicing revenue where the Business Services segment performs the loan servicing function for the FFELP Loans segment. (2) “Core Earnings” adjustments to GAAP: Three Months Ended March 31, 2015 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 94 $ — $ 94 Total other income (loss) — 72 — 72 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 1 1 Restructuring and other reorganization expenses 3 — — 3 Total “Core Earnings” adjustments to GAAP $ (3 ) $ 166 $ (1 ) 162 Income tax expense 64 Net income $ 98 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Summary of “Core Earnings” Adjustments to GAAP Three Months Ended (Dollars in millions) 2016 2015 “Core Earnings” adjustments to GAAP: Net impact of the removal of SLM BankCo’s operations and restructuring and reorganization expense in connection with the Spin-Off (1) $ — $ (3 ) Net impact of derivative accounting (2) 54 166 Net impact of goodwill and acquired intangibles assets (3) (4 ) (1 ) Net tax effect (4) (16 ) (64 ) Total “Core Earnings” adjustments to GAAP $ 34 $ 98 (1) SLM BankCo’s operations and restructuring and reorganization expense in connection with the Spin-Off: (2) Derivative accounting: (3) Goodwill and acquired intangible assets: (4) Net tax effect:

Significant Accounting Polici20

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited, consolidated financial statements of Navient have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. The consolidated financial statements include the accounts of Navient and its majority-owned and controlled subsidiaries and those Variable Interest Entities (“VIEs”) for which we are the primary beneficiary, after eliminating the effects of intercompany accounts and transactions. In the opinion of management, all adjustments considered necessary for a fair statement of the results for the interim periods have been included. The preparation of financial statements in conformity with 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-month period ended March 31, 2016 are not necessarily indicative of the results for the year ending December 31, 2016 or for any other period. These unaudited financial statements should be read in conjunction with the audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2015 (the “2015 Form 10-K”). Definitions for certain capitalized terms used but not otherwise defined in this Quarterly Report on Form 10-Q can be found in our 2015 Form 10-K.
Reclassifications	Reclassifications Certain reclassifications have been made to the balances as of and for the three months ended March 31, 2015 to be consistent with classifications adopted for 2016, and had no effect on net income, total assets, or total liabilities.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Revenue Recognition On May 28, 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Classification and Measurement On January 5, 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities,” which reconsiders the classification and measurement of financial instruments. The objective of this project is to significantly improve the usefulness of financial instrument reporting for users of financial statements. It will be effective for public companies in fiscal years beginning after December 15, 2017. We do not expect this update to have a material impact on the Company. Leases On February 25, 2016, the FASB issued ASU No. 2016-02, “Leases,” which requires the identification of arrangements that should be accounted for as leases by lessees. In general, for lease arrangements exceeding a twelve-month term, these arrangements must be recognized as assets and liabilities on the balance sheet of the lessee. A right-of-use asset and lease obligation will be recorded for all leases, whether operating or financing, while the income statement will reflect lease expense for operating leases and amortization/interest expense for financing leases. The balance sheet amount recorded for existing leases at the date of adoption must be calculated using the applicable incremental borrowing rate at the date of adoption. The standard requires the use of the modified retrospective transition method, which will require adjustment to all comparative periods presented. It will be effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. We are currently assessing the impact that adopting this new accounting standard will have on our consolidated financial statements and footnote disclosures, but expect it to be immaterial. Stock Compensation On March 30, 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation,” which identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. The new standard is effective for the Company in fiscal years beginning after December 15, 2016. Early application is permitted. We are currently assessing the impact that adopting this new accounting standard will have on our consolidated financial statements and footnote disclosures, but expect it to be immaterial.

Allowance for Loan Losses (Tabl

Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2016
Allowance for Credit Losses and Recorded Investments in Loans	Allowance for Loan Losses Metrics Three Months Ended March 31, 2016 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 78 $ 1,471 $ 15 $ 1,564 Total provision 7 104 — 111 Charge-offs (1) (15 ) (144 ) — (159 ) Reclassification of interest reserve (2) — 3 — 3 Ending balance $ 70 $ 1,434 $ 15 $ 1,519 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,185 $ 11 $ 1,196 Ending balance: collectively evaluated for impairment $ 70 $ 249 $ 4 $ 323 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,088 $ 33 $ 11,121 Ending balance: collectively evaluated for impairment (3) $ 94,074 $ 16,408 $ 50 $ 110,532 Charge-offs as a percentage of average loans in repayment (annualized) .08 % 2.39 % 2.04 % Allowance coverage of charge-offs (annualized) 1.2 2.5 8.6 Allowance as a percentage of the ending total loan balance .07 % 5.22 % 17.91 % Allowance as a percentage of the ending loans in repayment .10 % 6.03 % 17.91 % Ending total loans (3) $ 94,074 $ 27,496 $ 83 Average loans in repayment $ 73,689 $ 24,180 $ 85 Ending loans in repayment $ 73,699 $ 23,786 $ 83 (1) Charge-offs are reported net of expected recoveries. For Private Education Loans, the expected recovery amount is transferred to the receivable for partially charged-off loan balance. Charge-offs include charge-offs against the receivable for partially charged-off loans which represents the difference between what was expected to be recovered and any shortfalls in what was actually recovered in the period. See “Receivable for Partially Charged-Off Private Education Loans” for further discussion. (2) Represents the additional allowance related to the amount of uncollectible interest reserved within interest income that is transferred in the period to the allowance for loan losses when interest is capitalized to a loan’s principal balance. (3) Ending total loans for Private Education Loans includes the receivable for partially charged-off loans. Three Months Ended March 31, 2015 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 93 $ 1,916 $ 24 $ 2,033 Total provision 5 120 — 125 Charge-offs (1) (7 ) (190 ) (1 ) (198 ) Reclassification of interest reserve (2) — 3 — 3 Ending balance $ 91 $ 1,849 $ 23 $ 1,963 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,077 $ 18 $ 1,095 Ending balance: collectively evaluated for impairment $ 91 $ 772 $ 5 $ 868 Loans: Ending balance: individually evaluated for impairment $ — $ 10,859 $ 43 $ 10,902 Ending balance: collectively evaluated for impairment $ 101,347 $ 20,561 $ 59 $ 121,967 Charge-offs as a percentage of average loans in repayment (annualized) .03 % 2.89 % 3.43 % Allowance coverage of charge-offs (annualized) 3.6 2.4 6.3 Allowance as a percentage of the ending total loan balance .09 % 5.88 % 22.30 % Allowance as a percentage of the ending loans in repayment .12 % 7.04 % 22.30 % Ending total loans (3) $ 101,347 $ 31,420 $ 102 Average loans in repayment $ 77,474 $ 26,644 $ 105 Ending loans in repayment $ 76,755 $ 26,260 $ 102 (1) Charge-offs are reported net of expected recoveries. For Private Education Loans, the expected recovery amount is transferred to the receivable for partially charged-off loan balance. Charge-offs include charge-offs against the receivable for partially charged-off loans which represents the difference between what was expected to be collected and any shortfalls in what was actually collected in the period. See “Receivable for Partially Charged-Off Private Education Loans” for further discussion. (2) Represents the additional allowance related to the amount of uncollectible interest reserved within interest income that is transferred in the period to the allowance for loan losses when interest is capitalized to a loan’s principal balance. (3) Ending total loans for Private Education Loans includes the receivable for partially charged-off loans.
Age Analysis of Past Due Loans Delinquencies	The following tables provide information regarding the loan status and aging of past due loans. FFELP Loan Delinquencies March 31, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 7,986 $ 8,257 Loans in forbearance (2) 12,389 13,298 Loans in repayment and percentage of each status: Loans current 63,333 85.9 % 62,651 84.7 % Loans delinquent 31-60 days (3) 3,559 4.8 3,285 4.5 Loans delinquent 61-90 days (3) 1,657 2.3 1,856 2.5 Loans delinquent greater than 90 days (3) 5,150 7.0 6,142 8.3 Total FFELP Loans in repayment 73,699 100 % 73,934 100 % Total FFELP Loans, gross 94,074 95,489 FFELP Loan unamortized premium 1,014 1,087 Total FFELP Loans 95,088 96,576 FFELP Loan allowance for losses (70 ) (78 ) FFELP Loans, net $ 95,018 $ 96,498 Percentage of FFELP Loans in repayment 78.3 % 77.4 % Delinquencies as a percentage of FFELP Loans in repayment 14.1 % 15.3 % FFELP Loans in forbearance as a percentage of loans in repayment and forbearance 14.4 % 15.2 % (1) Loans for customers who may still be attending school or engaging in other permitted educational activities and are not yet required to make payments on their loans, e.g., residency periods for medical students or a grace period for bar exam preparation, as well as loans for customers who have requested and qualify for other permitted program deferments such as military, unemployment, or economic hardships. (2) Loans for customers who have used their allowable deferment time or do not qualify for deferment, that need additional time to obtain employment or who have temporarily ceased making full payments due to hardship or other factors. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due. Traditional Private Education Loan March 31, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 1,756 $ 1,859 Loans in forbearance (2) 809 863 Loans in repayment and percentage of each status: Loans current 20,673 94.4 % 21,085 93.5 % Loans delinquent 31-60 days (3) 371 1.7 491 2.2 Loans delinquent 61-90 days (3) 245 1.1 292 1.3 Loans delinquent greater than 90 days (3) 612 2.8 690 3.0 Total traditional loans in repayment 21,901 100 % 22,558 100 % Total traditional loans, gross 24,466 25,280 Traditional loans unamortized discount (455 ) (470 ) Total traditional loans 24,011 24,810 Traditional loans receivable for partially charged-off loans 553 560 Traditional loans allowance for losses (1,203 ) (1,236 ) Traditional loans, net $ 23,361 $ 24,134 Percentage of traditional loans in repayment 89.5 % 89.2 % Delinquencies as a percentage of traditional loans in repayment 5.6 % 6.5 % Loans in forbearance as a percentage of loans in repayment and forbearance 3.6 % 3.7 % (1) Deferment includes customers who have returned to school or are engaged in other permitted educational activities and are not yet required to make payments on their loans, e.g., residency periods for medical students or a grace period for bar exam preparation. (2) Loans for customers who have requested extension of grace period generally during employment transition or who have temporarily ceased making full payments due to hardship or other factors, consistent with established loan program servicing policies and procedures. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due. Non-Traditional Private Education Loan March 31, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 171 $ 181 Loans in forbearance (2) 107 110 Loans in repayment and percentage of each status: Loans current 1,640 87.0 % 1,646 84.7 % Loans delinquent 31-60 days (3) 63 3.3 86 4.4 Loans delinquent 61-90 days (3) 45 2.4 56 2.9 Loans delinquent greater than 90 days (3) 137 7.3 156 8.0 Total non-traditional loans in repayment 1,885 100 % 1,944 100 % Total non-traditional loans, gross 2,163 2,235 Non-traditional loans unamortized discount (60 ) (61 ) Total non-traditional loans 2,103 2,174 Non-traditional loans receivable for partially charged-off loans 314 321 Non-traditional loans allowance for losses (231 ) (235 ) Non-traditional loans, net $ 2,186 $ 2,260 Percentage of non-traditional loans in repayment 87.1 % 87.0 % Delinquencies as a percentage of non-traditional loans in repayment 13.0 % 15.3 % Loans in forbearance as a percentage of loans in repayment and forbearance 5.4 % 5.4 % (1) Deferment includes customers who have returned to school or are engaged in other permitted educational activities and are not yet required to make payments on their loans, e.g., residency periods for medical students or a grace period for bar exam preparation. (2) Loans for customers who have requested extension of grace period generally during employment transition or who have temporarily ceased making full payments due to hardship or other factors, consistent with established loan program servicing policies and procedures. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due.
Recorded Investment, Unpaid Principal Balance and Related Allowance for TDR Loans	The following table provides the recorded investment, unpaid principal balance and related allowance for our TDR loans. TDR Loans (Dollars in millions) Recorded (1) Unpaid Related March 31, 2016 Private Education Loans — Traditional $ 9,276 $ 9,325 $ 978 Private Education Loans — Non-Traditional 1,425 1,429 207 Total $ 10,701 $ 10,754 $ 1,185 December 31, 2015 Private Education Loans — Traditional $ 9,134 $ 9,200 $ 995 Private Education Loans — Non-Traditional 1,441 1,442 214 Total $ 10,575 $ 10,642 $ 1,209 (1) The recorded investment is equal to the unpaid principal balance and accrued interest receivable net of unamortized deferred fees and costs.
Average Recorded Investment and Interest Income Recognized for TDR	The following table provides the average recorded investment and interest income recognized for our TDR loans. Three Months Ended March 31, 2016 2015 (Dollars in millions) Average Interest Average Interest Private Education Loans — Traditional $ 9,221 $ 138 $ 8,856 $ 132 Private Education Loans — Non-Traditional 1,434 27 1,476 29 Total $ 10,655 $ 165 $ 10,332 $ 161
Loans Modified Accounts for TDR	The following table provides the amount of loans modified in the periods presented that resulted in a TDR. Additionally, the table summarizes charge-offs occurring in the TDR portfolio, as well as TDRs for which a payment default occurred in the current period within 12 months of the loan first being designated as a TDR. We define payment default as 60 days past due for this disclosure. The majority of our loans that are considered TDRs involve a temporary forbearance of payments and do not change the contractual interest rate of the loan or do not involve an extended repayment plan. Three Months Ended March 31, 2016 2015 (Dollars in millions) Modified (1) Charge- (2) Payment Modified (1) Charge- (2) Payment Private Education Loans — Traditional $ 341 $ 80 $ 62 $ 430 $ 91 $ 100 Private Education Loans — Non-Traditional 27 22 11 42 28 18 Total $ 368 $ 102 $ 73 $ 472 $ 119 $ 118 (1) Represents period ending balance of loans that have been modified during the period and resulted in a TDR. (2) Represents loans that charged off that were classified as TDRs.
Private Education Loans [Member]
Private Education Loan Portfolio Stratified by Key Credit Quality Indicators	The following table highlights the principal balance (excluding the receivable for partially charged-off loans) of our Private Education Loan portfolio stratified by the key credit quality indicators. Private Education Loans March 31, 2016 December 31, 2015 (Dollars in millions) Balance (3) % of Balance Balance (3) % of Balance Credit Quality Indicators School Type/FICO Scores: Traditional $ 24,466 92 % $ 25,280 92 % Non-Traditional (1) 2,163 8 2,235 8 Total $ 26,629 100 % $ 27,515 100 % Cosigners: With cosigner $ 17,172 64 % $ 17,738 64 % Without cosigner 9,457 36 9,777 36 Total $ 26,629 100 % $ 27,515 100 % Seasoning (2) : 1-12 payments $ 1,434 6 % $ 1,776 7 % 13-24 payments 1,692 6 1,977 7 25-36 payments 2,617 10 2,982 11 37-48 payments 3,574 13 3,787 14 More than 48 payments 15,385 58 14,953 54 Not yet in repayment 1,927 7 2,040 7 Total $ 26,629 100 % $ 27,515 100 % (1) Defined as loans to customers attending for-profit schools (with a FICO score of less than 670 at origination) and customers attending not-for-profit schools (with a FICO score of less than 640 at origination). (2) Number of months in active repayment for which a scheduled payment was received. (3) Balance represents gross Private Education Loans.
Receivable for Partially Charged-Off Loans	The following table summarizes the activity in the receivable for partially charged-off Private Education Loans. Three Months Ended March 31, (Dollars in millions) 2016 2015 Receivable at beginning of period $ 881 $ 1,245 Expected future recoveries of current period defaults (1) 36 62 Recoveries (2) (50 ) (52 ) Charge-offs (3) — (19 ) Receivable at end of period 867 1,236 Allowance for estimated recovery shortfalls (4) — (380 ) Net receivable at end of period $ 867 $ 856 (1) Represents the difference between the loan balance and our estimate of the amount to be collected in the future. (2) Current period cash collections. (3) Prior to second-quarter 2015, charge-offs represent the current period recovery shortfall — the difference between what was expected to be collected and what was actually collected. In the second quarter of 2015, the portion of the loan amount charged off at default increased from 73 percent to 79 percent. This change resulted in a $330 million reduction to the balance of the receivable for partially charged-off loans. These amounts are included in the “Allowance for Private Education Loan Losses” table. (4) The allowance for estimated recovery shortfalls of the receivable for partially charged-off Private Education Loans is a component of the $1.8 billion overall allowance for Private Education Loan losses as of March 31, 2015. This component of the allowance was removed in the second quarter of 2015 due to the increase in the charge-off rate discussed above.
Accrued Interest Receivable	The following table provides information regarding accrued interest receivable on our Private Education Loans. (Dollars in millions) Accrued Allowance for March 31, 2016 Private Education Loans — Traditional $ 407 $ 26 Private Education Loans — Non-Traditional 53 8 Total $ 460 $ 34 December 31, 2015 Private Education Loans — Traditional $ 433 $ 26 Private Education Loans — Non-Traditional 57 9 Total $ 490 $ 35
Troubled Debt Restructuring Loans [Member]
Age Analysis of Past Due Loans Delinquencies	The following table provides information regarding the loan status and aging of TDR loans that are past due. TDR Loan Delinquencies March 31, December 31, (Dollars in millions) Balance % Balance % Loans in deferment (1) $ 697 $ 706 Loans in forbearance (2) 665 695 Loans in repayment and percentage of each status: Loans current 8,228 87.6 % 7,885 85.3 % Loans delinquent 31-60 days (3) 326 3.5 414 4.5 Loans delinquent 61-90 days (3) 228 2.4 263 2.8 Loans delinquent greater than 90 days (3) 610 6.5 679 7.4 Total TDR loans in repayment 9,392 100 % 9,241 100 % Total TDR loans, gross $ 10,754 $ 10,642 (1) Deferment includes customers who have returned to school or are engaged in other permitted educational activities and are not yet required to make payments on their loans, e.g., residency periods for medical students or a grace period for bar exam preparation. (2) Loans for customers who have requested extension of grace period generally during employment transition or who have temporarily ceased making full payments due to hardship or other factors, consistent with established loan program servicing policies and procedures. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due.

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Company's Borrowings	The following table summarizes our borrowings. March 31, 2016 December 31, 2015 (Dollars in millions) Short Long Total Short Long Total Unsecured borrowings: Senior unsecured debt $ 1,137 $ 12,987 $ 14,124 $ 1,120 $ 13,976 $ 15,096 Total unsecured borrowings 1,137 12,987 14,124 1,120 13,976 15,096 Secured borrowings: FFELP Loan securitizations — 76,411 76,411 — 77,764 77,764 Private Education Loan securitizations (1) — 16,557 16,557 — 16,900 16,900 FFELP Loan — other facilities — 16,446 16,446 — 16,276 16,276 Private Education Loan — other facilities 369 — 369 710 — 710 Other (2) 877 — 877 760 — 760 Total secured borrowings 1,246 109,414 110,660 1,470 110,940 112,410 Total before hedge accounting adjustments 2,383 122,401 124,784 2,590 124,916 127,506 Hedge accounting adjustments (20 ) 519 499 (20 ) (83 ) (103 ) Total $ 2,363 $ 122,920 $ 125,283 $ 2,570 $ 124,833 $ 127,403 (1) Includes $546 million of long-term debt related to the Private Education Loan asset-backed securitization repurchase facility (“Repurchase Facility”) as of both March 31, 2016 and December 31, 2015. (2) “Other” primarily consists of the obligation to return cash collateral held related to derivative exposure.
Financing VIEs	We consolidated the following financing VIEs as of March 31, 2016 and December 31, 2015, as we are the primary beneficiary. As a result, these VIEs are accounted for as secured borrowings. March 31, 2016 Debt Outstanding Carrying Amount of Assets Securing (Dollars in millions) Short Long Total Loans Cash Other Total Secured Borrowings — VIEs: FFELP Loan securitizations $ — $ 76,411 $ 76,411 $ 76,941 $ 2,783 $ 668 $ 80,392 Private Education Loan securitizations (1) — 16,557 16,557 21,936 520 300 22,756 FFELP Loan — other facilities — 12,846 12,846 13,300 317 178 13,795 Private Education Loan — other facilities 369 — 369 551 10 17 578 Total before hedge accounting adjustments 369 105,814 106,183 112,728 3,630 1,163 117,521 Hedge accounting adjustments — (522 ) (522 ) — — (521 ) (521 ) Total $ 369 $ 105,292 $ 105,661 $ 112,728 $ 3,630 $ 642 $ 117,000 December 31, 2015 Debt Outstanding Carrying Amount of Assets Securing (Dollars in millions) Short Long Total Loans Cash Other Total Secured Borrowings — VIEs: FFELP Loan securitizations $ — $ 77,764 $ 77,764 $ 78,358 $ 2,760 $ 682 $ 81,800 Private Education Loan securitizations (1) — 16,900 16,900 22,014 452 323 22,789 FFELP Loan — other facilities — 12,676 12,676 13,158 324 168 13,650 Private Education Loan — other facilities 710 — 710 1,110 17 31 1,158 Total before hedge accounting adjustments 710 107,340 108,050 114,640 3,553 1,204 119,397 Hedge accounting adjustments — (830 ) (830 ) — — (911 ) (911 ) Total $ 710 $ 106,510 $ 107,220 $ 114,640 $ 3,553 $ 293 $ 118,486 (1) Includes $546 million of long-term debt related to the Repurchase Facility as of both March 31, 2016 and December 31, 2015. Includes $36 million and $41 million of restricted cash related to the Repurchase Facility as of March 31, 2016 and December 31, 2015, respectively.

Derivative Financial Instrume23

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Impact of Derivatives on Consolidated Balance Sheet	Impact of Derivatives on Consolidated Balance Sheet Cash Flow Fair Value Trading Total (Dollars in millions) Hedged Risk Exposure Mar. 31, Dec. 31, Mar. 31, Dec. 31, Mar. 31, Dec. 31, Mar. 31, Dec. 31, Fair Values (1) Derivative Assets: Interest rate swaps Interest rate $ — $ — $ 935 $ 694 $ 79 $ 32 $ 1,014 $ 726 Cross-currency interest rate swaps Foreign currency — — 28 2 — — 28 2 Other (2) Interest rate — — — — 1 — 1 — Total derivative assets (3) — — 963 696 80 32 1,043 728 Derivative Liabilities: Interest rate swaps Interest rate (218 ) (89 ) — (3 ) (62 ) (68 ) (280 ) (160 ) Floor Income Contracts Interest rate — — — — (349 ) (365 ) (349 ) (365 ) Cross-currency interest rate swaps Foreign currency — — (578 ) (926 ) (42 ) (62 ) (620 ) (988 ) Other (2) Interest rate — — — — (5 ) (2 ) (5 ) (2 ) Total derivative liabilities (3) (218 ) (89 ) (578 ) (929 ) (458 ) (497 ) (1,254 ) (1,515 ) Net total derivatives $ (218 ) $ (89 ) $ 385 $ (233 ) $ (378 ) $ (465 ) $ (211 ) $ (787 ) (1) Fair values reported are exclusive of collateral held and pledged and accrued interest. Assets and liabilities are presented without consideration of master netting agreements. Derivatives are carried on the balance sheet based on net position by counterparty under master netting agreements, and classified in other assets or other liabilities depending on whether in a net positive or negative position. (2) “Other” includes embedded derivatives bifurcated from securitization debt as well as derivatives related to our Total Return Swap Facility. (3) The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification:
Gross Positions without Impact of Master Netting Agreements	Other Assets Other Liabilities (Dollar in millions) March 31, December 31, March 31, December 31, Gross position $ 1,043 $ 728 $ (1,254 ) $ (1,515 ) Impact of master netting agreements (26 ) (50 ) 26 50 Derivative values with impact of master netting 1,017 678 (1,228 ) (1,465 ) Cash collateral (held) pledged (875 ) (759 ) 392 466 Net position $ 142 $ (81 ) $ (836 ) $ (999 )
Derivative Notional Values	Cash Flow Fair Value Trading Total (Dollars in billions) Mar. 31, Dec. 31, Mar. 31, Dec. 31, Mar. 31, Dec. 31, Mar. 31, Dec. 31, Notional Values: Interest rate swaps $ 16.6 $ 9.5 $ 11.7 $ 12.6 $ 33.4 $ 33.8 $ 61.7 $ 55.9 Floor Income Contracts — — — — 25.2 35.1 25.2 35.1 Cross-currency interest rate swaps — — 8.9 9.1 .3 .3 9.2 9.4 Other (1) — — — — 3.1 3.2 3.1 3.2 Total derivatives $ 16.6 $ 9.5 $ 20.6 $ 21.7 $ 62.0 $ 72.4 $ 99.2 $ 103.6 (1) “Other” includes embedded derivatives bifurcated from securitization debt as well as derivatives related to our Total Return Swap Facility.
Impact of Derivatives on Consolidated Statements of Income	Impact of Derivatives on Consolidated Statements of Income Three Months Ended March 31, Unrealized Gain (1)(2) Realized Gain (3) Unrealized Gain (1) Total Gain (Loss) (Dollars in millions) 2016 2015 2016 2015 2016 2015 2016 2015 Fair Value Hedges: Interest rate swaps $ 244 $ 121 $ 71 $ 95 $ (280 ) $ (130 ) $ 35 $ 86 Cross-currency interest rate swaps 374 (842 ) (16 ) 2 (306 ) 988 52 148 Total fair value derivatives 618 (721 ) 55 97 (586 ) 858 87 234 Cash Flow Hedges: Interest rate swaps — — — — — — — — Total cash flow derivatives — — — — — — — — Trading: Interest rate swaps 53 18 10 11 — — 63 29 Floor Income Contracts 27 72 (138 ) (162 ) — — (111 ) (90 ) Cross-currency interest rate swaps 20 (1 ) (1 ) (1 ) — — 19 (2 ) Other (2 ) (2 ) — (1 ) — — (2 ) (3 ) Total trading derivatives 98 87 (129 ) (153 ) — — (31 ) (66 ) Total 716 (634 ) (74 ) (56 ) (586 ) 858 56 168 Less: realized gains (losses) recorded in interest expense — — 55 97 — — 55 97 Gains (losses) on derivative and hedging activities, net $ 716 $ (634 ) $ (129 ) $ (153 ) $ (586 ) $ 858 $ 1 $ 71 (1) Recorded in “Gains (losses) on derivative and hedging activities, net” in the consolidated statements of income. (2) Represents ineffectiveness related to cash flow hedges. (3) For fair value and cash flow hedges, recorded in interest expense. For trading derivatives, recorded in “Gains (losses) on derivative and hedging activities, net.”
Collateral Held and Pledged	Collateral held and pledged related to derivative exposures between us and our derivative counterparties are detailed in the following table: (Dollars in millions) March 31, December 31, Collateral held: Cash (obligation to return cash collateral is recorded in short-term borrowings) (1) $ 875 $ 759 Securities at fair value — on-balance sheet securitization derivatives (not recorded in financial statements) (2) 398 301 Total collateral held $ 1,273 $ 1,060 Derivative asset at fair value including accrued interest $ 1,160 $ 896 Collateral pledged to others: Cash (right to receive return of cash collateral is recorded in investments) $ 392 $ 466 Total collateral pledged $ 392 $ 466 Derivative liability at fair value including accrued interest and premium receivable $ 1,201 $ 1,395 (1) At March 31, 2016 and December 31, 2015, $0 million and $2 million, respectively, were held in restricted cash accounts. (2) The trusts do not have the ability to sell or re-pledge securities they hold as collateral.

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	The following table provides the detail of our other assets. (Dollars in millions) March 31, December 31, Accrued interest receivable, net $ 1,575 $ 1,646 Derivatives at fair value 1,017 678 Income tax asset, net current and deferred 860 906 Benefit and insurance-related investments 484 491 Accounts receivable 169 329 Fixed assets, net 161 162 Other loans, net 68 70 Other 363 400 Total $ 4,697 $ 4,682

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Common Share Repurchases and Issuances	The following table summarizes common share repurchases and issuances. Three Months Ended March 31, 2016 2015 Common shares repurchased (1) 19,210,281 14,653,835 Average purchase price per share $ 10.42 $ 20.49 Shares repurchased related to employee stock-based compensation plans (2) 986,273 1,644,764 Average purchase price per share $ 9.96 $ 20.86 Common shares issued (3) 2,499,585 3,585,238 (1) Common shares purchased under our share repurchase programs. (2) Comprises shares withheld from stock option exercises and vesting of restricted stock for employees’ tax withholding obligations and shares tendered by employees to satisfy option exercise costs. (3) Common shares issued under our various compensation and benefit plans.

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings per Common Share	Basic earnings per common share (“EPS”) are calculated using the weighted average number of shares of common stock outstanding during each period. A reconciliation of the numerators and denominators of the basic and diluted EPS calculations follows. Three Months Ended (In millions, except per share data) 2016 2015 Numerator: Net income attributable to Navient Corporation $ 181 $ 292 Denominator: Weighted average shares used to compute basic EPS 339 398 Effect of dilutive securities: Dilutive effect of stock options, non-vested restricted stock, restricted stock units and Employee Stock Purchase Plans (“ESPPs”) (1) 4 7 Dilutive potential common shares (2) 4 7 Weighted average shares used to compute diluted EPS 343 405 Basic earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .53 $ .73 Discontinued operations — — Total $ .53 $ .73 Diluted earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .53 $ .72 Discontinued operations — — Total $ .53 $ .72 (1) Includes the potential dilutive effect of additional common shares that are issuable upon exercise of outstanding stock options, non-vested restricted stock, restricted stock units, and the outstanding commitment to issue shares under applicable ESPPs, determined by the treasury stock method. (2) For the three months ended March 31, 2016 and 2015, stock options covering approximately 9 million and 4 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Valuation of Financial Instruments that are Marked-to-Market on Recurring Basis	The following table summarizes the valuation of our financial instruments that are marked-to-market on a recurring basis. Fair Value Measurements on a Recurring Basis March 31, 2016 December 31, 2015 (Dollars in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Available-for-sale investments: Agency residential mortgage-backed securities $ — $ 1 $ — $ 1 $ — $ 1 $ — $ 1 Other — 4 — 4 — 4 — 4 Total available-for-sale investments — 5 — 5 — 5 — 5 Derivative instruments: (1) Interest rate swaps — 985 29 1,014 — 709 17 726 Cross-currency interest rate swaps — — 28 28 — — 2 2 Other — — 1 1 — — — — Total derivative assets (3) — 985 58 1,043 — 709 19 728 Total $ — $ 990 $ 58 $ 1,048 $ — $ 714 $ 19 $ 733 Liabilities (2) Derivative instruments (1) Interest rate swaps $ — $ (219 ) $ (61 ) $ (280 ) $ — $ (99 ) $ (61 ) $ (160 ) Floor Income Contracts — (349 ) — (349 ) — (365 ) — (365 ) Cross-currency interest rate swaps — (64 ) (556 ) (620 ) — (83 ) (905 ) (988 ) Other — — (5 ) (5 ) — — (2 ) (2 ) Total derivative liabilities (3) — (632 ) (622 ) (1,254 ) — (547 ) (968 ) (1,515 ) Total $ — $ (632 ) $ (622 ) $ (1,254 ) $ — $ (547 ) $ (968 ) $ (1,515 ) (1) Fair value of derivative instruments excludes accrued interest and the value of collateral. (2) Borrowings which are the hedged items in a fair value hedge relationship and which are adjusted for changes in value due to benchmark interest rates only are not carried at full fair value and are not reflected in this table. (3) See “Note 4 — Derivative Financial Instruments” for a reconciliation of gross positions without the impact of master netting agreements to the balance sheet classification.
Change in Balance Sheet Carrying Value Associated with Level 3 Financial Instruments Carried at Fair Value on Recurring Basis	The following tables summarize the change in balance sheet carrying value associated with level 3 financial instruments carried at fair value on a recurring basis. Three Months Ended March 31, 2016 2015 Derivative instruments Derivative instruments (Dollars in millions) Interest Cross Other Total Interest Cross Other Total Balance, beginning of period $ (44 ) $ (903 ) $ (2 ) $ (949 ) $ (88 ) $ (117 ) $ (11 ) $ (216 ) Total gains/(losses) (realized and unrealized): Included in earnings (1) 11 358 (2 ) 367 1 (840 ) (3 ) (842 ) Included in other comprehensive income — — — — — — — — Settlements 1 17 — 18 (1 ) (1 ) 1 (1 ) Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (32 ) $ (528 ) $ (4 ) $ (564 ) $ (88 ) $ (958 ) $ (13 ) $ (1,059 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ 12 $ 375 $ (2 ) $ 385 $ — $ (838 ) $ (2 ) $ (840 ) (1) “Included in earnings” is comprised of the following amounts recorded in the specified line item in the consolidated statements of income:
Included in Earnings	Three Months Ended March 31, (Dollars in millions) 2016 2015 Gains (losses) on derivative and hedging activities, net $ 384 $ (843 ) Interest expense (17 ) 1 Total $ 367 $ (842 ) (2) Recorded in “gains (losses) on derivative and hedging activities, net” in the consolidated statements of income.
Unobservable Data Used in Recurring Valuations of Level 3	The following table presents the significant inputs that are unobservable or from inactive markets used in the recurring valuations of the level 3 financial instruments detailed above. (Dollars in millions) Fair Value at Valuation Input Range Derivatives Consumer Price Index/LIBOR basis swaps $ 11 Discounted cash flow Bid/ask adjustment to discount rate .02% — .05% (.05%) Prime/LIBOR basis swaps (43 ) Discounted cash flow Constant prepayment rate 4.9% Bid/ask adjustment to .03% — .05% (.03%) Cross-currency interest rate swaps (528 ) Discounted cash flow Constant prepayment rate 2.8% Other (4 ) Total $ (564 )
Fair Values of Financial Assets and Liabilities, Including Derivative Financial Instruments	The following table summarizes the fair values of our financial assets and liabilities, including derivative financial instruments. March 31, 2016 December 31, 2015 (Dollars in millions) Fair Carrying Difference Fair Carrying Difference Earning assets FFELP Loans $ 92,550 $ 95,018 $ (2,468 ) $ 94,377 $ 96,498 $ (2,121 ) Private Education Loans 24,716 25,547 (831 ) 25,772 26,394 (622 ) Cash and investments (1) 5,413 5,413 — 5,833 5,833 — Total earning assets 122,679 125,978 (3,299 ) 125,982 128,725 (2,743 ) Interest-bearing liabilities Short-term borrowings 2,370 2,363 (7 ) 2,569 2,570 1 Long-term borrowings 115,815 122,920 7,105 118,471 124,833 6,362 Total interest-bearing liabilities 118,185 125,283 7,098 121,040 127,403 6,363 Derivative financial instruments Floor Income Contracts (349 ) (349 ) — (365 ) (365 ) — Interest rate swaps 734 734 — 566 566 — Cross-currency interest rate swaps (592 ) (592 ) — (986 ) (986 ) — Other (4 ) (4 ) — (2 ) (2 ) — Excess of net asset fair value over carrying value $ 3,799 $ 3,620 (1) “Cash and investments” includes available-for-sale investments that consist of investments that are primarily agency securities whose cost basis is $4 million and $4 million at March 31, 2016 and December 31, 2015, respectively, versus a fair value of $5 million and $5 million at March 31, 2016 and December 31, 2015, respectively.

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Results and Reconciliations to GAAP	Segment Results and Reconciliations to GAAP Three Months Ended March 31, 2016 (Dollars in millions) FFELP Private Business Other Eliminations (1) Total Adjustments Total Reclassifications Additions/ Total (2) Interest income: Education loans $ 555 $ 411 $ — $ — $ — $ 966 $ 138 $ (59 ) $ 79 $ 1,045 Other loans — — — 1 — 1 — — — 1 Cash and investments 3 1 — 1 — 5 — — — 5 Total interest income 558 412 — 2 — 972 138 (59 ) 79 1,051 Total interest expense 358 172 — 26 — 556 9 — 9 565 Net interest income (loss) 200 240 — (24 ) — 416 129 (59 ) 70 486 Less: provisions for loan losses 7 104 — — — 111 — — — 111 Net interest income (loss) after provisions for loan losses 193 136 — (24 ) — 305 129 (59 ) 70 375 Other income (loss): Servicing revenue 16 4 163 — (101 ) 82 — — — 82 Asset recovery and business processing revenue — — 90 — — 90 — — — 90 Other income (loss) — — 1 3 — 4 (129 ) 113 (16 ) (12 ) Gains (losses) on sales of loans and investments — — — — — — — — — — Gains on debt repurchases — — — — — — — — — — Total other income (loss) 16 4 254 3 (101 ) 176 (129 ) 113 (16 ) 160 Expenses: Direct operating expenses 104 43 134 6 (101 ) 186 — — — 186 Overhead expenses — — — 61 — 61 — — — 61 Operating expenses 104 43 134 67 (101 ) 247 — — — 247 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 4 4 4 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 104 43 134 67 (101 ) 247 — 4 4 251 Income (loss) from continuing operations, before income tax expense (benefit) 105 97 120 (88 ) — 234 — 50 50 284 Income tax expense (benefit) (3) 39 36 45 (33 ) — 87 — 16 16 103 Net income (loss) from continuing operations 66 61 75 (55 ) — 147 — 34 34 181 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 66 $ 61 $ 75 $ (55 ) $ — $ 147 $ — $ 34 $ 34 $ 181 (1) The eliminations in servicing revenue and direct operating expense represent the elimination of intercompany servicing revenue where the Business Services segment performs the loan servicing function for the FFELP Loans segment. (2) “Core Earnings” adjustments to GAAP: Three Months Ended March 31, 2016 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 70 $ — $ 70 Total other income (loss) — (16 ) — (16 ) Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 4 4 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ 54 $ (4 ) 50 Income tax expense 16 Net income $ 34 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Three Months Ended March 31, 2015 (Dollars in millions) FFELP Private Business Other Eliminations (1) Total Adjustments Total Reclassifications Additions/ Total (2) Interest income: Education loans $ 534 $ 456 $ — $ — $ — $ 990 $ 162 $ (59 ) $ 103 $ 1,093 Other loans — — — 2 — 2 — — — 2 Cash and investments 1 — — 1 — 2 — — — 2 Total interest income 535 456 — 3 — 994 162 (59 ) 103 1,097 Total interest expense 302 173 — 30 — 505 9 — 9 514 Net interest income (loss) 233 283 — (27 ) — 489 153 (59 ) 94 583 Less: provisions for loan losses 5 120 — — — 125 — — — 125 Net interest income (loss) after provisions for loan losses 228 163 — (27 ) — 364 153 (59 ) 94 458 Other income (loss): Servicing revenue 18 7 163 — (111 ) 77 — — — 77 Asset recovery and business processing revenue — — 89 — — 89 — — — 89 Other income (loss) — — 2 4 — 6 (153 ) 225 72 78 Gains on sales of loans and investments 5 — — — — 5 — — — 5 Gains on debt repurchases — — — — — — — — — — Total other income (loss) 23 7 254 4 (111 ) 177 (153 ) 225 72 249 Expenses: Direct operating expenses 115 46 116 4 (111 ) 170 — — — 170 Overhead expenses — — — 60 — 60 — — — 60 Operating expenses 115 46 116 64 (111 ) 230 — — — 230 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 1 1 1 Restructuring and other reorganization expenses — — — — — — — 3 3 3 Total expenses 115 46 116 64 (111 ) 230 — 4 4 234 Income (loss) from continuing operations, before income tax expense (benefit) 136 124 138 (87 ) — 311 — 162 162 473 Income tax expense (benefit) (3) 51 47 52 (33 ) — 117 — 64 64 181 Net income (loss) from continuing operations $ 85 $ 77 $ 86 $ (54 ) $ — $ 194 $ — $ 98 $ 98 $ 292 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 85 $ 77 $ 86 $ (54 ) $ — $ 194 $ — $ 98 $ 98 $ 292 (1) The eliminations in servicing revenue and direct operating expense represent the elimination of intercompany servicing revenue where the Business Services segment performs the loan servicing function for the FFELP Loans segment. (2) “Core Earnings” adjustments to GAAP: Three Months Ended March 31, 2015 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 94 $ — $ 94 Total other income (loss) — 72 — 72 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 1 1 Restructuring and other reorganization expenses 3 — — 3 Total “Core Earnings” adjustments to GAAP $ (3 ) $ 166 $ (1 ) 162 Income tax expense 64 Net income $ 98 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment.
Core Earnings Adjustments to GAAP	Summary of “Core Earnings” Adjustments to GAAP Three Months Ended (Dollars in millions) 2016 2015 “Core Earnings” adjustments to GAAP: Net impact of the removal of SLM BankCo’s operations and restructuring and reorganization expense in connection with the Spin-Off (1) $ — $ (3 ) Net impact of derivative accounting (2) 54 166 Net impact of goodwill and acquired intangibles assets (3) (4 ) (1 ) Net tax effect (4) (16 ) (64 ) Total “Core Earnings” adjustments to GAAP $ 34 $ 98 (1) SLM BankCo’s operations and restructuring and reorganization expense in connection with the Spin-Off: (2) Derivative accounting: (3) Goodwill and acquired intangible assets: (4) Net tax effect:
Assets [Member] | FFELP Loans Segment [Member]
Asset Information for Loans Segment	The following table includes GAAP basis asset information for our FFELP Loans segment. (Dollars in millions) March 31, December 31, FFELP Loans, net $ 95,018 $ 96,498 Cash and investments (1) 3,500 3,572 Other 1,918 2,015 Total assets $ 100,436 $ 102,085 (1) Includes restricted cash and investments.
Assets [Member] | Private Education Loans Segment [Member]
Asset Information for Loans Segment	The following table includes GAAP basis asset information for our Private Education Loans segment. (Dollars in millions) March 31, December 31, Private Education Loans, net $ 25,547 $ 26,394 Cash and investments (1) 672 596 Other 2,074 1,988 Total assets $ 28,293 $ 28,978 (1) Includes restricted cash and investments.

Allowance for Loan Losses - Add

Allowance for Loan Losses - Additional Information (Detail) $ in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2016USD ($)CreditScoreLoans	Jun. 30, 2015USD ($)	Mar. 31, 2015	Dec. 31, 2015USD ($)
Financing Receivable, Allowance for Credit Losses [Line Items]
Maximum original FICO score at for-profit schools to become eligible for non-traditional loans | CreditScore	670
Maximum original FICO score at not-for-profit schools to become eligible for non-traditional loans | CreditScore	640
Percentage of loans granted forbearance that migrated to TDR classification	57.00%			56.00%
Payment default period for TDRs	60 days past due
Interest Rate Reduction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
TDR loans, Unpaid Principal Balance | $	$ 2,700			$ 2,500
Minimum [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Delinquency period (in days)				212 days
Private Education Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Number of classes of loans | Loans	2
Portion of loan amount charged off at default		79.00%	73.00%
Net adjustment resulting from the change in the charge-off rate | $		$ 330
Loans default recovery rate		21.00%

Allowance for Loan Losses - All

Allowance for Loan Losses - Allowance for Credit Losses and Recorded Investments in Loans (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)SecurityLoan	Mar. 31, 2015USD ($)SecurityLoan	Dec. 31, 2015USD ($)
Allowance for Loan Losses
Beginning balance	$ 1,564	$ 2,033
Total provision	111	125
Charge-offs	(159)	(198)
Reclassification of interest reserve	3	3
Ending balance	1,519	1,963
Allowance:
Ending balance: individually evaluated for impairment	1,196	1,095
Ending balance: collectively evaluated for impairment	323	868
Loans:
Ending balance: individually evaluated for impairment	11,121	10,902
Ending balance: collectively evaluated for impairment	110,532	121,967
FFELP Loans [Member]
Allowance for Loan Losses
Beginning balance	78	93
Total provision	7	5
Charge-offs	(15)	(7)
Ending balance	70	91
Allowance:
Ending balance: collectively evaluated for impairment	70	91
Loans:
Ending balance: collectively evaluated for impairment	$ 94,074	$ 101,347
Charge-offs as a percentage of average loans in repayment (annualized)	0.08%	0.03%
Allowance coverage of charge-offs (annualized) | SecurityLoan	1.2	3.6
Allowance as a percentage of the ending total loan balance	0.07%	0.09%
Allowance as a percentage of the ending loans in repayment	0.10%	0.12%
Ending total loans	$ 94,074	$ 101,347
Average loans in repayment	73,689	77,474
Ending loans in repayment	73,699	76,755	$ 73,934
Private Education Loans [Member]
Allowance for Loan Losses
Beginning balance	1,471	1,916
Total provision	104	120
Charge-offs	(144)	(190)
Reclassification of interest reserve	3	3
Ending balance	1,434	1,849
Allowance:
Ending balance: individually evaluated for impairment	1,185	1,077
Ending balance: collectively evaluated for impairment	249	772
Loans:
Ending balance: individually evaluated for impairment	11,088	10,859
Ending balance: collectively evaluated for impairment	$ 16,408	$ 20,561
Charge-offs as a percentage of average loans in repayment (annualized)	2.39%	2.89%
Allowance coverage of charge-offs (annualized) | SecurityLoan	2.5	2.4
Allowance as a percentage of the ending total loan balance	5.22%	5.88%
Allowance as a percentage of the ending loans in repayment	6.03%	7.04%
Ending total loans	$ 27,496	$ 31,420
Average loans in repayment	24,180	26,644
Ending loans in repayment	23,786	26,260
Other Loans [Member]
Allowance for Loan Losses
Beginning balance	15	24
Charge-offs		(1)
Ending balance	15	23
Allowance:
Ending balance: individually evaluated for impairment	11	18
Ending balance: collectively evaluated for impairment	4	5
Loans:
Ending balance: individually evaluated for impairment	33	43
Ending balance: collectively evaluated for impairment	$ 50	$ 59
Charge-offs as a percentage of average loans in repayment (annualized)	2.04%	3.43%
Allowance coverage of charge-offs (annualized) | SecurityLoan	8.6	6.3
Allowance as a percentage of the ending total loan balance	17.91%	22.30%
Allowance as a percentage of the ending loans in repayment	17.91%	22.30%
Ending total loans	$ 83	$ 102
Average loans in repayment	85	105
Ending loans in repayment	$ 83	$ 102

Allowance for Loan Losses - Pri

Allowance for Loan Losses - Private Education Loan Portfolio Stratified by Key Credit Quality Indicators (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 26,629	$ 27,515
Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Private Education Loans with cosigner	17,172	17,738
Private Education Loans without cosigner	$ 9,457	$ 9,777
Private Education Loans with cosigner in percent	64.00%	64.00%
Private Education Loans without cosigner in percent	36.00%	36.00%
Total in percent	100.00%	100.00%
School Type/FICO Scores [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 26,629	$ 27,515
School Type/FICO Scores [Member] | Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
School type FICO scores traditional recorded investment	24,466	25,280
School type FICO scores non-traditional recorded investment	$ 2,163	$ 2,235
School type FICO scores traditional recorded investment, in percent	92.00%	92.00%
School type FICO scores non-traditional recorded investment, in percent	8.00%	8.00%
Total in percent	100.00%	100.00%
Seasoning [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 26,629	$ 27,515
Seasoning [Member] | Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Seasoning - based on monthly scheduled payments due from 1-12 payments	1,434	1,776
Seasoning - based on monthly scheduled payments due from 13-24 payments	1,692	1,977
Seasoning - based on monthly scheduled payments due from 25-36 payments	2,617	2,982
Seasoning - based on monthly scheduled payments due from 37-48 payments	3,574	3,787
Seasoning - based on monthly scheduled payments due from more than 48 payments	15,385	14,953
Seasoning - based on monthly scheduled payments due from not yet in repayment	$ 1,927	$ 2,040
Seasoning based on monthly scheduled payments due from 1-12 payments, in percent	6.00%	7.00%
Seasoning based on monthly scheduled payments due from 13 - 24 payments, in percent	6.00%	7.00%
Seasoning based on monthly scheduled payments due from 25 - 36 payments, in percent	10.00%	11.00%
Seasoning based on monthly scheduled payments due from 37 - 48 payments, in percent	13.00%	14.00%
Seasoning based on monthly scheduled payments due from more than 48 payments, in percent	58.00%	54.00%
Seasoning - based on monthly scheduled payments due from not yet in repayment, in percent	7.00%	7.00%
Total in percent	100.00%	100.00%

Allowance for Loan Losses - Age

Allowance for Loan Losses - Age Analysis of Past Due Loans Delinquencies (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Loans in repayment and percentage of each status:
Loans allowance for losses	$ (1,519)	$ (1,564)	$ (1,963)	$ (2,033)
Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in-school/grace/deferment	1,756	1,859
Loans in forbearance	809	863
Loans in repayment and percentage of each status:
Loans current	20,673	21,085
Total loans in repayment	21,901	22,558
Total loans, gross	24,466	25,280
Loans unamortized premium (discount)	(455)	(470)
Total loans	24,011	24,810
Loans receivable for partially charged-off loans	553	560
Loans allowance for losses	(1,203)	(1,236)
Loans, net	23,361	24,134
Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in-school/grace/deferment	171	181
Loans in forbearance	107	110
Loans in repayment and percentage of each status:
Loans current	1,640	1,646
Total loans in repayment	1,885	1,944
Total loans, gross	2,163	2,235
Loans unamortized premium (discount)	(60)	(61)
Total loans	2,103	2,174
Loans receivable for partially charged-off loans	314	321
Loans allowance for losses	(231)	(235)
Loans, net	2,186	2,260
Troubled Debt Restructuring Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in-school/grace/deferment	697	706
Loans in forbearance	665	695
Loans in repayment and percentage of each status:
Loans current	8,228	7,885
Total loans in repayment	9,392	9,241
Total loans, gross	10,754	10,642
Financing Receivables, 31 To 60 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Loans in repayment and percentage of each status:
Loans delinquent	371	491
Financing Receivables, 31 To 60 Days Past Due [Member] | Private Education Loans - Non-Traditional [Member]
Loans in repayment and percentage of each status:
Loans delinquent	63	86
Financing Receivables, 31 To 60 Days Past Due [Member] | Troubled Debt Restructuring Loans [Member]
Loans in repayment and percentage of each status:
Loans delinquent	326	414
Financing Receivables, 61 To 90 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Loans in repayment and percentage of each status:
Loans delinquent	245	292
Financing Receivables, 61 To 90 Days Past Due [Member] | Private Education Loans - Non-Traditional [Member]
Loans in repayment and percentage of each status:
Loans delinquent	45	56
Financing Receivables, 61 To 90 Days Past Due [Member] | Troubled Debt Restructuring Loans [Member]
Loans in repayment and percentage of each status:
Loans delinquent	228	263
Financing Receivables, 90 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Loans in repayment and percentage of each status:
Loans delinquent	612	690
Financing Receivables, 90 Days Past Due [Member] | Private Education Loans - Non-Traditional [Member]
Loans in repayment and percentage of each status:
Loans delinquent	137	156
Financing Receivables, 90 Days Past Due [Member] | Troubled Debt Restructuring Loans [Member]
Loans in repayment and percentage of each status:
Loans delinquent	610	679
FFELP Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in-school/grace/deferment	7,986	8,257
Loans in forbearance	12,389	13,298
Loans in repayment and percentage of each status:
Loans current	63,333	62,651
Total loans in repayment	73,699	73,934	76,755
Total loans, gross	94,074	95,489
Loans unamortized premium (discount)	1,014	1,087
Total loans	95,088	96,576
Loans allowance for losses	(70)	(78)	$ (91)	$ (93)
Loans, net	95,018	96,498
FFELP Loans [Member] | Financing Receivables, 31 To 60 Days Past Due [Member]
Loans in repayment and percentage of each status:
Loans delinquent	3,559	3,285
FFELP Loans [Member] | Financing Receivables, 61 To 90 Days Past Due [Member]
Loans in repayment and percentage of each status:
Loans delinquent	1,657	1,856
FFELP Loans [Member] | Financing Receivables, 90 Days Past Due [Member]
Loans in repayment and percentage of each status:
Loans delinquent	$ 5,150	$ 6,142
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	100.00%	100.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	100.00%	100.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Troubled Debt Restructuring Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	100.00%	100.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Current [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	94.40%	93.50%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Current [Member] | Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	87.00%	84.70%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Current [Member] | Troubled Debt Restructuring Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	87.60%	85.30%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 31 To 60 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	1.70%	2.20%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 31 To 60 Days Past Due [Member] | Troubled Debt Restructuring Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	3.50%	4.50%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 61 To 90 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	1.10%	1.30%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 61 To 90 Days Past Due [Member] | Troubled Debt Restructuring Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	2.40%	2.80%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 90 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	2.80%	3.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 90 Days Past Due [Member] | Troubled Debt Restructuring Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	6.50%	7.40%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Loans In Repayment [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	89.50%	89.20%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Loans In Repayment [Member] | Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	87.10%	87.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Delinquent Loans In Repayment [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	5.60%	6.50%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Delinquent Loans In Repayment [Member] | Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	13.00%	15.30%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Forbearance, Loans In Repayment [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	3.60%	3.70%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Forbearance, Loans In Repayment [Member] | Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	5.40%	5.40%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 31 To 60 Days Past Due [Member] | Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	3.30%	4.40%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 61 To 90 Days Past Due [Member] | Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	2.40%	2.90%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 90 Days Past Due [Member] | Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	7.30%	8.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	100.00%	100.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	85.90%	84.70%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, 31 To 60 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	4.80%	4.50%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, 61 To 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	2.30%	2.50%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	7.00%	8.30%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, Loans In Repayment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	78.30%	77.40%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, Delinquent Loans In Repayment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	14.10%	15.30%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, Forbearance, Loans In Repayment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	14.40%	15.20%

Allowance for Loan Losses - Rec

Allowance for Loan Losses - Receivable for Partially Charged-Off Loans (Detail) - Private Education Loans [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Receivable at beginning of period	$ 881	$ 1,245
Expected future recoveries of current period defaults	36	62
Recoveries	(50)	(52)
Charge-offs		(19)
Receivable at end of period	867	1,236
Allowance for estimated recovery shortfalls		(380)
Net receivable at end of period	$ 867	$ 856

Allowance for Loan Losses - R34

Allowance for Loan Losses - Receivable for Partially Charged-Off Loans (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Private Education Loans losses		$ 1,963	$ 1,519	$ 1,564	$ 2,033
Private Education Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Private Education Loans losses		$ 1,849	$ 1,434	$ 1,471	$ 1,916
Portion of loan amount charged off at default	79.00%	73.00%
Net adjustment resulting from the change in the charge-off rate	$ 330

Allowance for Loan Losses - R35

Allowance for Loan Losses - Recorded Investment, Unpaid Principal Balance and Related Allowance for TDR Loans (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR Loans, Recorded Investment	$ 10,701	$ 10,575
TDR loans, Unpaid Principal Balance	10,754	10,642
TDR Loans, Related Allowance	1,185	1,209
Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR Loans, Recorded Investment	9,276	9,134
TDR loans, Unpaid Principal Balance	9,325	9,200
TDR Loans, Related Allowance	978	995
Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR Loans, Recorded Investment	1,425	1,441
TDR loans, Unpaid Principal Balance	1,429	1,442
TDR Loans, Related Allowance	$ 207	$ 214

Allowance for Loan Losses - Ave

Allowance for Loan Losses - Average Recorded Investment and Interest Income Recognized for TDR (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Interest Income Recognized	$ 10,655	$ 10,332
Impaired financing receivable, Average Recorded Investment	165	161
Private Education Loans - Traditional [Member]
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Interest Income Recognized	9,221	8,856
Impaired financing receivable, Average Recorded Investment	138	132
Private Education Loans - Non-Traditional [Member]
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Interest Income Recognized	1,434	1,476
Impaired financing receivable, Average Recorded Investment	$ 27	$ 29

Allowance for Loan Losses - Loa

Allowance for Loan Losses - Loans Modified Accounts for TDR (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Financing Receivable, Modifications [Line Items]
Modified Loans	$ 368	$ 472
Charge-Offs	102	119
Payment-Default	73	118
Private Education Loans - Traditional [Member]
Financing Receivable, Modifications [Line Items]
Modified Loans	341	430
Charge-Offs	80	91
Payment-Default	62	100
Private Education Loans - Non-Traditional [Member]
Financing Receivable, Modifications [Line Items]
Modified Loans	27	42
Charge-Offs	22	28
Payment-Default	$ 11	$ 18

Allowance for Loan Losses - Acc

Allowance for Loan Losses - Accrued Interest Receivable (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	$ 407	$ 433
Allowance for Uncollectible Interest	26	26
Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	53	57
Allowance for Uncollectible Interest	8	9
Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	460	490
Allowance for Uncollectible Interest	$ 34	$ 35

Borrowings - Company's Borrowin

Borrowings - Company's Borrowings (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Short-term borrowings	$ 2,363	$ 2,570
Long-term borrowings	122,920	124,833
Total	125,283	127,403
Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Short-term borrowings	2,383	2,590
Long-term borrowings	122,401	124,916
Total	124,784	127,506
Total Before Hedge Accounting Adjustments [Member] | Senior Unsecured Debt [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,137	1,120
Long-term borrowings	12,987	13,976
Total	14,124	15,096
Total Before Hedge Accounting Adjustments [Member] | Total Unsecured Borrowings [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,137	1,120
Long-term borrowings	12,987	13,976
Total	14,124	15,096
Total Before Hedge Accounting Adjustments [Member] | FFELP Loan Securitizations [Member]
Debt Instrument [Line Items]
Long-term borrowings	76,411	77,764
Total	76,411	77,764
Total Before Hedge Accounting Adjustments [Member] | Private Education Loan Securitizations [Member]
Debt Instrument [Line Items]
Long-term borrowings	16,557	16,900
Total	16,557	16,900
Total Before Hedge Accounting Adjustments [Member] | FFELP Loan - Other Facilities [Member]
Debt Instrument [Line Items]
Long-term borrowings	16,446	16,276
Total	16,446	16,276
Total Before Hedge Accounting Adjustments [Member] | Private Education Loan - Other Facilities [Member]
Debt Instrument [Line Items]
Short-term borrowings	369	710
Total	369	710
Total Before Hedge Accounting Adjustments [Member] | Other [Member]
Debt Instrument [Line Items]
Short-term borrowings	877	760
Total	877	760
Total Before Hedge Accounting Adjustments [Member] | Secured Borrowings [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,246	1,470
Long-term borrowings	109,414	110,940
Total	110,660	112,410
Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Short-term borrowings	(20)	(20)
Long-term borrowings	519	(83)
Total	$ 499	$ (103)

Borrowings - Company's Borrow40

Borrowings - Company's Borrowings (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt	$ 122,920	$ 124,833
Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Long-term debt	122,401	124,916
Private Education Loan Securitizations Repurchase Facility [Member] | Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Long-term debt	$ 546	$ 546

Borrowings - Financing VIEs (De

Borrowings - Financing VIEs (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Securities Financing Transaction [Line Items]
Short-term borrowings	$ 2,363	$ 2,570
Long-term borrowings	122,920	124,833
Total Debt Outstanding	125,283	127,403
Other assets	4,697	4,682
Total Before Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	2,383	2,590
Long-term borrowings	122,401	124,916
Total Debt Outstanding	124,784	127,506
Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	(20)	(20)
Long-term borrowings	519	(83)
Total Debt Outstanding	499	(103)
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	369	710
Long-term borrowings	105,292	106,510
Total Debt Outstanding	105,661	107,220
Loans	112,728	114,640
Cash	3,630	3,553
Other assets	642	293
Total Carrying Amount of Assets Securing Debt Outstanding	117,000	118,486
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loan Securitizations [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	76,411	77,764
Total Debt Outstanding	76,411	77,764
Loans	76,941	78,358
Cash	2,783	2,760
Other assets	668	682
Total Carrying Amount of Assets Securing Debt Outstanding	80,392	81,800
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Private Education Loan Securitizations [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	16,557	16,900
Total Debt Outstanding	16,557	16,900
Loans	21,936	22,014
Cash	520	452
Other assets	300	323
Total Carrying Amount of Assets Securing Debt Outstanding	22,756	22,789
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loan - Other Facilities [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	12,846	12,676
Total Debt Outstanding	12,846	12,676
Loans	13,300	13,158
Cash	317	324
Other assets	178	168
Total Carrying Amount of Assets Securing Debt Outstanding	13,795	13,650
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Private Education Loan - Other Facilities [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	369	710
Total Debt Outstanding	369	710
Loans	551	1,110
Cash	10	17
Other assets	17	31
Total Carrying Amount of Assets Securing Debt Outstanding	578	1,158
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Total Before Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	369	710
Long-term borrowings	105,814	107,340
Total Debt Outstanding	106,183	108,050
Loans	112,728	114,640
Cash	3,630	3,553
Other assets	1,163	1,204
Total Carrying Amount of Assets Securing Debt Outstanding	117,521	119,397
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	(522)	(830)
Total Debt Outstanding	(522)	(830)
Other assets	(521)	(911)
Total Carrying Amount of Assets Securing Debt Outstanding	$ (521)	$ (911)

Borrowings - Financing VIEs (Pa

Borrowings - Financing VIEs (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Securities Financing Transaction [Line Items]
Long-term debt	$ 122,920	$ 124,833
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Securities Financing Transaction [Line Items]
Long-term debt	105,292	106,510
Restricted cash	3,630	3,553
Private Education Loan Securitizations [Member] | Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Securities Financing Transaction [Line Items]
Long-term debt	546	546
Restricted cash	$ 36	$ 41

Derivative Financial Instrume43

Derivative Financial Instruments - Impact of Derivatives on Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Derivative Assets:
Derivative assets	$ 1,043	$ 728
Derivative Liabilities:
Derivative liabilities	(1,254)	(1,515)
Net total derivatives	(211)	(787)
Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	1,014	726
Derivative Liabilities:
Derivative liabilities	(280)	(160)
Cross-Currency Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	28	2
Derivative Liabilities:
Derivative liabilities	(620)	(988)
Other [Member]
Derivative Assets:
Derivative assets	1
Derivative Liabilities:
Derivative liabilities	(5)	(2)
Floor Income Contracts [Member]
Derivative Liabilities:
Derivative liabilities	(349)	(365)
Designated as Hedging Instrument [Member] | Cash Flow [Member]
Derivative Liabilities:
Derivative liabilities	(218)	(89)
Net total derivatives	(218)	(89)
Designated as Hedging Instrument [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	963	696
Derivative Liabilities:
Derivative liabilities	(578)	(929)
Net total derivatives	385	(233)
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Cash Flow [Member]
Derivative Liabilities:
Derivative liabilities	(218)	(89)
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	935	694
Derivative Liabilities:
Derivative liabilities		(3)
Designated as Hedging Instrument [Member] | Cross-Currency Interest Rate Swaps [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	28	2
Derivative Liabilities:
Derivative liabilities	(578)	(926)
Trading [Member]
Derivative Assets:
Derivative assets	80	32
Derivative Liabilities:
Derivative liabilities	(458)	(497)
Net total derivatives	(378)	(465)
Trading [Member] | Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	79	32
Derivative Liabilities:
Derivative liabilities	(62)	(68)
Trading [Member] | Cross-Currency Interest Rate Swaps [Member]
Derivative Liabilities:
Derivative liabilities	(42)	(62)
Trading [Member] | Other [Member]
Derivative Assets:
Derivative assets	1
Derivative Liabilities:
Derivative liabilities	(5)	(2)
Trading [Member] | Floor Income Contracts [Member]
Derivative Liabilities:
Derivative liabilities	$ (349)	$ (365)

Derivative Financial Instrume44

Derivative Financial Instruments - Gross Positions without Impact of Master Netting Agreements (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Gross position, Assets	$ 1,043	$ 728
Gross position, Liabilities	(1,254)	(1,515)
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross position, Liabilities	(1,254)	(1,515)
Impact of master netting agreements, Liabilities	26	50
Derivative values with impact of master netting agreements (as carried on balance sheet), Liabilities	(1,228)	(1,465)
Cash collateral (held) pledged, Liabilities	392	466
Net position, Liabilities	(836)	(999)
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Gross position, Assets	1,043	728
Impact of master netting agreements, Assets	(26)	(50)
Derivative values with impact of master netting agreements (as carried on balance sheet), Assets	1,017	678
Cash collateral (held) pledged, Assets	(875)	(759)
Net position, Assets	$ 142	$ (81)

Derivative Financial Instrume45

Derivative Financial Instruments - Additional Information (Detail) $ in Millions	Mar. 31, 2016USD ($)Counterparty	Dec. 31, 2015USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Decrease in valuation due to net credit risk adjustments	$ 12	$ 1
Decrease in valuation due to liquidity adjustments	23	$ 31
Derivative liability position including accrued interest, net of premium receivable with counterparty	$ 631
Number of counterparties with right to terminate | Counterparty	2

Derivative Financial Instrume46

Derivative Financial Instruments - Derivative Notional Values (Detail) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Total Derivative Notional Values	$ 99,200,000,000	$ 103,600,000,000
Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	61,700,000,000	55,900,000,000
Floor Income Contracts [Member]
Derivative [Line Items]
Total Derivative Notional Values	25,200,000,000	35,100,000,000
Cross-Currency Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	9,200,000,000	9,400,000,000
Other [Member]
Derivative [Line Items]
Total Derivative Notional Values	3,100,000,000	3,200,000,000
Designated as Hedging Instrument [Member] | Cash Flow [Member]
Derivative [Line Items]
Total Derivative Notional Values	16,600,000,000	9,500,000,000
Designated as Hedging Instrument [Member] | Fair Value [Member]
Derivative [Line Items]
Total Derivative Notional Values	20,600,000,000	21,700,000,000
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Cash Flow [Member]
Derivative [Line Items]
Total Derivative Notional Values	16,600,000,000	9,500,000,000
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Fair Value [Member]
Derivative [Line Items]
Total Derivative Notional Values	11,700,000,000	12,600,000,000
Designated as Hedging Instrument [Member] | Cross-Currency Interest Rate Swaps [Member] | Fair Value [Member]
Derivative [Line Items]
Total Derivative Notional Values	8,900,000,000	9,100,000,000
Trading [Member]
Derivative [Line Items]
Total Derivative Notional Values	62,000,000,000	72,400,000,000
Trading [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	33,400,000,000	33,800,000,000
Trading [Member] | Floor Income Contracts [Member]
Derivative [Line Items]
Total Derivative Notional Values	25,200,000,000	35,100,000,000
Trading [Member] | Cross-Currency Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	300,000,000	300,000,000
Trading [Member] | Other [Member]
Derivative [Line Items]
Total Derivative Notional Values	$ 3,100,000,000	$ 3,200,000,000

Derivative Financial Instrume47

Derivative Financial Instruments - Impact of Derivatives on Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	$ 716	$ (634)
Realized Gain (Loss) on Derivatives	(74)	(56)
Unrealized Gain (Loss) on Hedged Item	(586)	858
Unrealized Gain (Loss) on Derivatives, Net	716	(634)
Total Gain (Loss) on Derivatives, Gross	56	168
Realized Gain (Loss) on Derivatives, Net	(129)	(153)
Unrealized Gain (Loss) on Hedged Item, Net	(586)	858
Total Gain (Loss) On Derivatives, Net	1	71
Designated as Hedging Instrument [Member] | Fair Value [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	618	(721)
Realized Gain (Loss) on Derivatives	55	97
Unrealized Gain (Loss) on Hedged Item	(586)	858
Total Gain (Loss) on Derivatives, Gross	87	234
Designated as Hedging Instrument [Member] | Fair Value [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	244	121
Realized Gain (Loss) on Derivatives	71	95
Unrealized Gain (Loss) on Hedged Item	(280)	(130)
Total Gain (Loss) on Derivatives, Gross	35	86
Designated as Hedging Instrument [Member] | Fair Value [Member] | Cross-Currency Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	374	(842)
Realized Gain (Loss) on Derivatives	(16)	2
Unrealized Gain (Loss) on Hedged Item	(306)	988
Total Gain (Loss) on Derivatives, Gross	52	148
Trading [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	98	87
Realized Gain (Loss) on Derivatives	(129)	(153)
Total Gain (Loss) on Derivatives, Gross	(31)	(66)
Trading [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	53	18
Realized Gain (Loss) on Derivatives	10	11
Total Gain (Loss) on Derivatives, Gross	63	29
Trading [Member] | Cross-Currency Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	20	(1)
Realized Gain (Loss) on Derivatives	(1)	(1)
Total Gain (Loss) on Derivatives, Gross	19	(2)
Trading [Member] | Floor Income Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	27	72
Realized Gain (Loss) on Derivatives	(138)	(162)
Total Gain (Loss) on Derivatives, Gross	(111)	(90)
Trading [Member] | Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	(2)	(2)
Realized Gain (Loss) on Derivatives		(1)
Total Gain (Loss) on Derivatives, Gross	(2)	(3)
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Less: realized gains (losses) recorded in interest expense	55	97
Realized Gain (Loss) on Derivatives	$ 55	$ 97

Derivative Financial Instrume48

Derivative Financial Instruments - Collateral Held and Pledged (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Collateral held:
Cash (obligation to return cash collateral is recorded in short-term borrowings)	$ 875	$ 759
Securities at fair value - on-balance sheet securitization derivatives (not recorded in financial statements)	398	301
Total collateral held	1,273	1,060
Derivative asset at fair value including accrued interest	1,160	896
Collateral pledged to others:
Cash (right to receive return of cash collateral is recorded in investments)	392	466
Total collateral pledged	392	466
Derivative liability at fair value including accrued interest and premium receivable	$ 1,201	$ 1,395

Derivative Financial Instrume49

Derivative Financial Instruments - Collateral Held and Pledged (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Collateral held in restricted cash account	$ 0	$ 2

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Other Assets [Line Items]
Other	$ 363	$ 400
Total	4,697	4,682
Other Assets [Member]
Other Assets [Line Items]
Accrued interest receivable, net	1,575	1,646
Derivatives at fair value	1,017	678
Income tax asset, net current and deferred	860	906
Benefit and insurance-related investments	484	491
Accounts receivable	169	329
Fixed assets, net	161	162
Other loans, net	$ 68	$ 70

Business Combinations - Acqui51

Business Combinations - Acquisition of Gila LLC and Xtend Healthcare - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended	9 Months Ended
	Oct. 31, 2015	Feb. 28, 2015	Mar. 31, 2016	Sep. 30, 2015
Indefinite-lived Intangible Assets [Line Items]
Other changes or adjustments to goodwill and intangible assets			$ 0
Asset Recovery - Gila LLC [Member]
Indefinite-lived Intangible Assets [Line Items]
Business acquisition, effective date of acquisition			Feb. 28, 2015
Controlling interest percentage		98.00%
Business acquisition, purchase price		$ 185,000,000
Goodwill				$ 97,000,000
Business acquisition, indefinite life intangible asset				13,000,000
Business acquisition, definite life intangible assets				$ 71,000,000
Asset Recovery - Gila LLC [Member] | Minimum [Member]
Indefinite-lived Intangible Assets [Line Items]
Definite life intangible assets, amortization period				2 years
Asset Recovery - Gila LLC [Member] | Maximum [Member]
Indefinite-lived Intangible Assets [Line Items]
Definite life intangible assets, amortization period				16 years
Asset Recovery - Xtend Healthcare [Member]
Indefinite-lived Intangible Assets [Line Items]
Business acquisition, effective date of acquisition			Oct. 31, 2015
Controlling interest percentage	91.00%
Business acquisition, purchase price	$ 164,000,000
Goodwill			$ 101,000,000
Business acquisition, indefinite life intangible asset			15,000,000
Business acquisition, definite life intangible assets			$ 51,000,000

Stockholders' Equity - Common S

Stockholders' Equity - Common Share Repurchases and Issuances (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Equity, Class of Treasury Stock [Line Items]
Average purchase price per share	$ 10.42	$ 20.49
Shares repurchased related to employee stock-based compensation plans	986,273	1,644,764
Average purchase price per share	$ 9.96	$ 20.86
Common shares issued	2,499,585	3,585,238
Common Stock Shares Outstanding [Member]
Equity, Class of Treasury Stock [Line Items]
Common stock repurchased	19,210,281	14,653,835
Shares repurchased related to employee stock-based compensation plans	986,273	1,644,764
Common shares issued	2,499,585	3,585,238

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Class of Stock [Line Items]
Common stock dividend paid	$ 0.16
Purchase price of common stock repurchased on open market	$ 200,000,000	$ 300,000,000
Authorized share repurchased program remaining available amount	$ 555,000,000
Common Stock [Member]
Class of Stock [Line Items]
Closing price of common stock	$ 11.97
Common Stock Shares Outstanding [Member]
Class of Stock [Line Items]
Common shares repurchased	19,210,281	14,653,835

Earnings per Common Share - Sch

Earnings per Common Share - Schedule of Earnings per Common Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Numerator:
Net income attributable to Navient Corporation	$ 181	$ 292
Denominator:
Weighted average shares used to compute basic EPS	339	398
Effect of dilutive securities:
Dilutive effect of stock options, non-vested restricted stock, restricted stock units and Employee Stock Purchase Plans ("ESPPs")	4	7
Dilutive potential common shares	4	7
Weighted average shares used to compute diluted EPS	343	405
Basic earnings (loss) per common share attributable to Navient Corporation:
Continuing operations	$ 0.53	$ 0.73
Discontinued operations	0	0
Total	0.53	0.73
Diluted earnings (loss) per common share attributable to Navient Corporation:
Continuing operations	0.53	0.72
Discontinued operations	0	0
Total	$ 0.53	$ 0.72

Earnings per Common Share - S55

Earnings per Common Share - Schedule of Earnings per Common Share (Parenthetical) (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock awards not included in the computation of diluted earnings per share	9	4

Fair Value Measurements - Valua

Fair Value Measurements - Valuation of Financial Instruments that are Marked-to-Market on Recurring Basis (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Available-for-sale investments:
Available-for-sale investments	$ 5	$ 5
Derivative assets	1,043	728
Derivative liabilities	(1,254)	(1,515)
Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	1,014	726
Derivative liabilities	(280)	(160)
Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	28	2
Derivative liabilities	(620)	(988)
Other [Member]
Available-for-sale investments:
Derivative assets	1
Derivative liabilities	(5)	(2)
Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(349)	(365)
Fair Value Measurements Recurring [Member]
Available-for-sale investments:
Available-for-sale investments	5	5
Derivative assets	1,043	728
Total	1,048	733
Derivative liabilities	(1,254)	(1,515)
Total	(1,254)	(1,515)
Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	1,014	726
Derivative liabilities	(280)	(160)
Fair Value Measurements Recurring [Member] | Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	28	2
Derivative liabilities	(620)	(988)
Fair Value Measurements Recurring [Member] | Other [Member]
Available-for-sale investments:
Derivative assets	1
Derivative liabilities	(5)	(2)
Fair Value Measurements Recurring [Member] | Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(349)	(365)
Fair Value Measurements Recurring [Member] | Agency Residential Mortgage-Backed Securities [Member]
Available-for-sale investments:
Available-for-sale investments	1	1
Fair Value Measurements Recurring [Member] | Other [Member]
Available-for-sale investments:
Available-for-sale investments	4	4
Level 2 [Member] | Fair Value Measurements Recurring [Member]
Available-for-sale investments:
Available-for-sale investments	5	5
Derivative assets	985	709
Total	990	714
Derivative liabilities	(632)	(547)
Total	(632)	(547)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	985	709
Derivative liabilities	(219)	(99)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative liabilities	(64)	(83)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(349)	(365)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Agency Residential Mortgage-Backed Securities [Member]
Available-for-sale investments:
Available-for-sale investments	1	1
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Other [Member]
Available-for-sale investments:
Available-for-sale investments	4	4
Level 3 [Member] | Fair Value Measurements Recurring [Member]
Available-for-sale investments:
Derivative assets	58	19
Total	58	19
Derivative liabilities	(622)	(968)
Total	(622)	(968)
Level 3 [Member] | Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	29	17
Derivative liabilities	(61)	(61)
Level 3 [Member] | Fair Value Measurements Recurring [Member] | Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	28	2
Derivative liabilities	(556)	(905)
Level 3 [Member] | Fair Value Measurements Recurring [Member] | Other [Member]
Available-for-sale investments:
Derivative assets	1
Derivative liabilities	$ (5)	$ (2)

Fair Value Measurements - Chang

Fair Value Measurements - Change in Balance Sheet Carrying Value Associated with Level 3 Financial Instruments Carried at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	$ (949)	$ (216)
Total gains/(losses) (realized and unrealized):
Included in earnings	367	(842)
Included in other comprehensive income	0	0
Settlements	18	(1)
Transfers in and/or out of level 3	0	0
Balance, end of period	(564)	(1,059)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	385	(840)
Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	(44)	(88)
Total gains/(losses) (realized and unrealized):
Included in earnings	11	1
Included in other comprehensive income	0	0
Settlements	1	(1)
Transfers in and/or out of level 3	0	0
Balance, end of period	(32)	(88)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	12
Cross-Currency Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	(903)	(117)
Total gains/(losses) (realized and unrealized):
Included in earnings	358	(840)
Included in other comprehensive income	0	0
Settlements	17	(1)
Transfers in and/or out of level 3	0	0
Balance, end of period	(528)	(958)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	375	(838)
Other [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	(2)	(11)
Total gains/(losses) (realized and unrealized):
Included in earnings	(2)	(3)
Included in other comprehensive income	0	0
Settlements		1
Transfers in and/or out of level 3	0	0
Balance, end of period	(4)	(13)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	$ (2)	$ (2)

Fair Value Measurements - Inclu

Fair Value Measurements - Included in Earnings (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gains (losses) on derivative and hedging activities, net	$ 367	$ (842)
Gain (Loss) on Derivative Instruments [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gains (losses) on derivative and hedging activities, net	384	(843)
Interest Expense [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gains (losses) on derivative and hedging activities, net	$ (17)	$ 1

Fair Value Measurements - Unobs

Fair Value Measurements - Unobservable Data Used in Recurring Valuations of Level 3 (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Level 3 [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	$ (564)
Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	734	$ 566
Cross-Currency Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	(592)	(986)
Cross-Currency Interest Rate Swaps [Member] | Level 3 [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	$ (528)
Discounted cash flow	Discounted cash flow
Cross-Currency Interest Rate Swaps [Member] | Fair Value Measurements Recurring [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Constant prepayment rate	Constant prepayment rate
Cross-Currency Interest Rate Swaps [Member] | Constant Prepayment Rate [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, Basis Spread on Variable Rate	2.80%
Other [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	$ (4)	$ (2)
Other [Member] | Level 3 [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	(4)
Consumer Price Index/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Level 3 [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	$ 11
Discounted cash flow	Discounted cash flow
Consumer Price Index/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Fair Value Measurements Recurring [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Bid/ask adjustment to discount rate	Bid/ask adjustment to discount rate
Consumer Price Index/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Bid/Ask Adjustment to Discount Rate [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, Lower Range of Basis Spread on Variable Rate	0.02%
Derivative, Higher Range of Basis Spread on Variable Rate	0.05%
Derivative, Basis Spread on Variable Rate	(0.05%)
Prime/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Level 3 [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	$ (43)
Discounted cash flow	Discounted cash flow
Prime/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Fair Value Measurements Recurring [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Constant prepayment rate	Constant prepayment rate
Bid/ask adjustment to discount rate	Bid/ask adjustment to discount rate
Prime/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Bid/Ask Adjustment to Discount Rate [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, Lower Range of Basis Spread on Variable Rate	0.03%
Derivative, Higher Range of Basis Spread on Variable Rate	0.05%
Derivative, Basis Spread on Variable Rate	(0.03%)
Prime/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Constant Prepayment Rate [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, Basis Spread on Variable Rate	4.90%

Fair Value Measurements - Fair

Fair Value Measurements - Fair Values of Financial Assets and Liabilities, Including Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total earning assets, Carrying Value	$ 125,978	$ 128,725
Short-term borrowings, Carrying Value	2,363	2,570
Long-term borrowings, Carrying Value	122,920	124,833
Total interest-bearing liabilities, Carrying Value	125,283	127,403
Total earning assets, Fair Value	122,679	125,982
Short-term borrowings, Fair Value	2,370	2,569
Long-term borrowings, Fair Value	115,815	118,471
Total interest-bearing liabilities, Fair Value	118,185	121,040
Floor Income Contracts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(349)	(365)
Derivative financial instruments, Fair Value	(349)	(365)
Interest Rate Swaps [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	734	566
Derivative financial instruments, Fair Value	734	566
Cross-Currency Interest Rate Swaps [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(592)	(986)
Derivative financial instruments, Fair Value	(592)	(986)
Other [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(4)	(2)
Derivative financial instruments, Fair Value	(4)	(2)
FFELP Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, Carrying Value	95,018	96,498
Loans receivable, Fair Value	92,550	94,377
Private Education Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, Carrying Value	25,547	26,394
Loans receivable, Fair Value	24,716	25,772
Difference [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total earning assets, Fair Value	(3,299)	(2,743)
Short-term borrowings, Fair Value	(7)	1
Long-term borrowings, Fair Value	7,105	6,362
Total interest-bearing liabilities, Fair Value	7,098	6,363
Excess of net asset fair value over carrying value	3,799	3,620
Difference [Member] | FFELP Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, Fair Value	(2,468)	(2,121)
Difference [Member] | Private Education Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, Fair Value	(831)	(622)
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and investments	5,413	5,833
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and investments	$ 5,413	$ 5,833

Fair Value Measurements - Fai61

Fair Value Measurements - Fair Values of Financial Assets and Liabilities, Including Derivative Financial Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Available-for-sale investments, cost basis	$ 4	$ 4
Available-for-sale investments, fair value	$ 5	$ 5

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	May. 13, 2014	Mar. 31, 2016	Dec. 31, 2014	Dec. 31, 2013
Loss Contingencies [Line Items]
Civil monetary penalties	$ 3,300,000
Establishment of a restitution reserve		$ 30,000,000
Separation and distribution agreement date		Apr. 28, 2014
Estimated amount of credits for similar assessed late fees		$ 42,000,000
Total reserves established during year			$ 177,000,000	$ 177,000,000
Indemnification Matters [Member] | SLM BankCo [Member] | Predecessor [Member]
Loss Contingencies [Line Items]
Reserve for estimated amounts and costs incurred		$ 0
DOJ Order [Member]
Loss Contingencies [Line Items]
Civil monetary penalties			55,000
Settlement fund under DOJ			$ 60,000,000

Segment Reporting - Asset Infor

Segment Reporting - Asset Information for Loans Segment (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Other	$ 4,697	$ 4,682
Total assets	131,377	134,112
Private Education Loans Segment [Member]
Segment Reporting Information [Line Items]
Loans, net	25,547	26,394
Cash and investments	672	596
Other	2,074	1,988
Total assets	28,293	28,978
FFELP Loans Segment [Member]
Segment Reporting Information [Line Items]
Loans, net	95,018	96,498
Cash and investments	3,500	3,572
Other	1,918	2,015
Total assets	$ 100,436	$ 102,085

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total assets	$ 131,377	$ 134,112
Business Services Segment [Member]
Segment Reporting Information [Line Items]
Total assets	654	657
Other Segment [Member]
Segment Reporting Information [Line Items]
Total assets	$ 2,000	$ 2,400

Segment Reporting - Segment Res

Segment Reporting - Segment Results and Reconciliations to GAAP (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest income:
Education loans	$ 1,045	$ 1,093
Other loans	1	2
Cash and investments	5	2
Total interest income	1,051	1,097
Total interest expense	565	514
Net interest income (loss)	486	583
Less: provisions for loan losses	111	125
Net interest income (loss) after provisions for loan losses	375	458
Other income (loss):
Servicing revenue	82	77
Asset recovery and business processing revenue	90	89
Other income (loss)	(12)	78
Gains (losses) on sales of loans and investments		5
Gains on debt repurchases	0	0
Total other income	160	249
Expenses:
Direct operating expenses	186	170
Overhead expenses	61	60
Total operating expenses	247	230
Goodwill and acquired intangible asset impairment and amortization	4	1
Restructuring and other reorganization expenses		3
Total expenses	251	234
Income (loss) from continuing operations, before income tax expense (benefit)	284	473
Income tax expense (benefit)	103	181
Net income (loss) from continuing operations	181	292
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0
Net income (loss)	181	292
Reclassifications [Member]
Interest income:
Education loans	138	162
Total interest income	138	162
Total interest expense	9	9
Net interest income (loss)	129	153
Net interest income (loss) after provisions for loan losses	129	153
Other income (loss):
Other income (loss)	(129)	(153)
Gains on debt repurchases	0	0
Total other income	(129)	(153)
Expenses:
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0
Additions/ (Subtractions) [Member]
Interest income:
Education loans	(59)	(59)
Total interest income	(59)	(59)
Net interest income (loss)	(59)	(59)
Net interest income (loss) after provisions for loan losses	(59)	(59)
Other income (loss):
Other income (loss)	113	225
Gains on debt repurchases	0	0
Total other income	113	225
Expenses:
Goodwill and acquired intangible asset impairment and amortization	4	1
Restructuring and other reorganization expenses		3
Total expenses	4	4
Income (loss) from continuing operations, before income tax expense (benefit)	50	162
Income tax expense (benefit)	16	64
Net income (loss) from continuing operations	34	98
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0
Net income (loss)	34	98
Total Adjustments [Member]
Interest income:
Education loans	79	103
Total interest income	79	103
Total interest expense	9	9
Net interest income (loss)	70	94
Net interest income (loss) after provisions for loan losses	70	94
Other income (loss):
Other income (loss)	(16)	72
Gains on debt repurchases	0	0
Total other income	(16)	72
Expenses:
Total operating expenses	0	0
Goodwill and acquired intangible asset impairment and amortization	4	1
Restructuring and other reorganization expenses		3
Total expenses	4	4
Income (loss) from continuing operations, before income tax expense (benefit)	50	162
Income tax expense (benefit)	16	64
Net income (loss) from continuing operations	34	98
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0
Net income (loss)	34	98
Operating Segments [Member]
Interest income:
Education loans	966	990
Other loans	1	2
Cash and investments	5	2
Total interest income	972	994
Total interest expense	556	505
Net interest income (loss)	416	489
Less: provisions for loan losses	111	125
Net interest income (loss) after provisions for loan losses	305	364
Other income (loss):
Servicing revenue	82	77
Asset recovery and business processing revenue	90	89
Other income (loss)	4	6
Gains (losses) on sales of loans and investments		5
Gains on debt repurchases	0	0
Total other income	176	177
Expenses:
Direct operating expenses	186	170
Overhead expenses	61	60
Total operating expenses	247	230
Total expenses	247	230
Income (loss) from continuing operations, before income tax expense (benefit)	234	311
Income tax expense (benefit)	87	117
Net income (loss) from continuing operations	147	194
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0
Net income (loss)	147	194
Operating Segments [Member] | FFELP Loans Segment [Member]
Interest income:
Education loans	555	534
Cash and investments	3	1
Total interest income	558	535
Total interest expense	358	302
Net interest income (loss)	200	233
Less: provisions for loan losses	7	5
Net interest income (loss) after provisions for loan losses	193	228
Other income (loss):
Servicing revenue	16	18
Gains (losses) on sales of loans and investments		5
Gains on debt repurchases	0	0
Total other income	16	23
Expenses:
Direct operating expenses	104	115
Total operating expenses	104	115
Total expenses	104	115
Income (loss) from continuing operations, before income tax expense (benefit)	105	136
Income tax expense (benefit)	39	51
Net income (loss) from continuing operations	66	85
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0
Net income (loss)	66	85
Operating Segments [Member] | Private Education Loans Segment [Member]
Interest income:
Education loans	411	456
Cash and investments	1
Total interest income	412	456
Total interest expense	172	173
Net interest income (loss)	240	283
Less: provisions for loan losses	104	120
Net interest income (loss) after provisions for loan losses	136	163
Other income (loss):
Servicing revenue	4	7
Gains on debt repurchases	0	0
Total other income	4	7
Expenses:
Direct operating expenses	43	46
Total operating expenses	43	46
Total expenses	43	46
Income (loss) from continuing operations, before income tax expense (benefit)	97	124
Income tax expense (benefit)	36	47
Net income (loss) from continuing operations	61	77
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0
Net income (loss)	61	77
Operating Segments [Member] | Business Services Segment [Member]
Other income (loss):
Servicing revenue	163	163
Asset recovery and business processing revenue	90	89
Other income (loss)	1	2
Gains on debt repurchases	0	0
Total other income	254	254
Expenses:
Direct operating expenses	134	116
Total operating expenses	134	116
Total expenses	134	116
Income (loss) from continuing operations, before income tax expense (benefit)	120	138
Income tax expense (benefit)	45	52
Net income (loss) from continuing operations	75	86
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0
Net income (loss)	75	86
Operating Segments [Member] | Other Segment [Member]
Interest income:
Other loans	1	2
Cash and investments	1	1
Total interest income	2	3
Total interest expense	26	30
Net interest income (loss)	(24)	(27)
Net interest income (loss) after provisions for loan losses	(24)	(27)
Other income (loss):
Other income (loss)	3	4
Gains on debt repurchases	0	0
Total other income	3	4
Expenses:
Direct operating expenses	6	4
Overhead expenses	61	60
Total operating expenses	67	64
Total expenses	67	64
Income (loss) from continuing operations, before income tax expense (benefit)	(88)	(87)
Income tax expense (benefit)	(33)	(33)
Net income (loss) from continuing operations	(55)	(54)
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0
Net income (loss)	(55)	(54)
Eliminations [Member]
Other income (loss):
Servicing revenue	(101)	(111)
Gains on debt repurchases	0	0
Total other income	(101)	(111)
Expenses:
Direct operating expenses	(101)	(111)
Total operating expenses	(101)	(111)
Total expenses	(101)	(111)
Income (loss) from discontinued operations, net of tax expense (benefit)	$ 0	$ 0

Segment Reporting - Segment R66

Segment Reporting - Segment Result and Reconciliations to GAAP - Core Earnings Adjustments (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income after provisions for loan losses	$ 375	$ 458
Total other income (loss)	160	249
Operating expenses	247	230
Goodwill and acquired intangible asset impairment and amortization	4	1
Restructuring and other reorganization expenses		3
Income tax expense	103	181
Net income attributable to Navient Corporation	181	292
Total Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income after provisions for loan losses	70	94
Total other income (loss)	(16)	72
Operating expenses	0	0
Goodwill and acquired intangible asset impairment and amortization	4	1
Restructuring and other reorganization expenses		3
Total "Core Earnings" adjustments to GAAP	50	162
Income tax expense	16	64
Net income attributable to Navient Corporation	34	98
Net Impact from Spin-Off of SLM BankCo [Member] | Total Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating expenses	0	0
Restructuring and other reorganization expenses		3
Total "Core Earnings" adjustments to GAAP		(3)
Net Impact of Derivative Accounting [Member] | Total Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income after provisions for loan losses	70	94
Total other income (loss)	(16)	72
Operating expenses	0	0
Total "Core Earnings" adjustments to GAAP	54	166
Net Impact of Acquired Intangibles [Member] | Total Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating expenses	0	0
Goodwill and acquired intangible asset impairment and amortization	4	1
Total "Core Earnings" adjustments to GAAP	$ (4)	$ (1)

Segment Reporting - Core Earnin

Segment Reporting - Core Earnings Adjustments to GAAP (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
"Core Earnings" adjustments to GAAP:
Net tax effect	$ (103)	$ (181)
Net income attributable to Navient Corporation	181	292
Total Adjustments [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	50	162
Net tax effect	(16)	(64)
Net income attributable to Navient Corporation	34	98
Total Adjustments [Member] | Net Impact from Spin-Off of SLM BankCo [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP		(3)
Total Adjustments [Member] | Net Impact of Derivative Accounting [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	54	166
Total Adjustments [Member] | Net Impact of Acquired Intangibles [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	$ (4)	$ (1)

Segment Reporting - Core Earn68

Segment Reporting - Core Earnings Adjustments to GAAP (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2016USD ($)
Segment Reporting [Abstract]
Amount that will be equal to cumulative net unrealized gain or loss over the life of the contract	$ 0