Navient (NAVI) 10-Q 25 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2016shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
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	317,033,006

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Investments
Available-for-sale	$ 4	$ 5
Other	541	496
Total investments	545	501
Cash and cash equivalents	1,377	1,594
Restricted cash and investments	3,613	3,738
Goodwill and acquired intangible assets, net	696	705
Other assets	4,782	4,682
Total assets	128,372	134,112
Liabilities
Short-term borrowings	2,370	2,570
Long-term borrowings	119,637	124,833
Other liabilities	2,662	2,710
Total liabilities	124,669	130,113
Commitments and contingencies
Equity
Common stock, par value $0.01 per share, 1.125 billion shares authorized: 434 million and 431 million shares issued, respectively	4	4
Additional paid-in capital	2,985	2,967
Accumulated other comprehensive loss (net of tax benefit of $100 and $30, respectively)	(171)	(51)
Retained earnings	2,677	2,480
Total Navient Corporation stockholders' equity before treasury stock	5,495	5,400
Less: Common stock held in treasury at cost: 116 million and 82 million shares, respectively	(1,816)	(1,425)
Total Navient Corporation stockholders' equity	3,679	3,975
Noncontrolling interest	24	24
Total equity	3,703	3,999
Total liabilities and equity	128,372	134,112
FFELP Loans [Member]
Assets
Loans, net	92,618	96,498
Private Education Loans [Member]
Assets
Loans, net	24,741	26,394
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Investments
Restricted cash	3,419	3,553
Other assets	432	293
Liabilities
Short-term borrowings	361	710
Long-term borrowings	102,103	106,510
Net assets of consolidated variable interest entities	10,747	11,266
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loans [Member]
Assets
Loans, net	87,613	91,516
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Private Education Loans [Member]
Assets
Loans, net	$ 21,747	$ 23,124

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Allowance for loans losses	$ 1,487	$ 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	434,000,000	431,000,000
Tax benefit for accumulated other comprehensive loss	$ 100	$ 30
Common stock held in treasury	116,000,000	82,000,000
FFELP Loans [Member]
Allowance for loans losses	$ 62	$ 78
Private Education Loans [Member]
Allowance for loans losses	$ 1,410	$ 1,471

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Interest income:
Education loans	$ 1,020	$ 1,060	$ 2,065	$ 2,153
Other loans	2	2	3	4
Cash and investments	6	2	12	4
Total interest income	1,028	1,064	2,080	2,161
Total interest expense	599	515	1,165	1,029
Net interest income	429	549	915	1,132
Less: provisions for loan losses	110	198	221	323
Net interest income after provisions for loan losses	319	351	694	809
Other income (loss):
Servicing revenue	71	106	154	182
Asset recovery and business processing revenue	101	99	191	188
Other income (loss)	(21)	7	(35)	15
Gains on sales of loans and investments		7		12
Gains on debt repurchases	0	0	0	0
Gains (losses) on derivative and hedging activities, net	(28)	(18)	(27)	53
Total other income	123	201	283	450
Expenses:
Salaries and benefits	124	115	256	238
Other operating expenses	106	110	222	218
Total operating expenses	230	225	478	456
Goodwill and acquired intangible asset impairment and amortization expense	6	3	10	4
Restructuring and other reorganization expenses		29		32
Total expenses	236	257	488	492
Income from continuing operations, before income tax expense	206	295	489	767
Income tax expense	81	113	184	293
Net income from continuing operations	125	182	305	474
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0	0	0
Net income	125	182	305	474
Less: net income (loss) attributable to noncontrolling interest	0	0	0	0
Net income attributable to Navient Corporation	$ 125	$ 182	$ 305	$ 474
Basic earnings per common share attributable to Navient Corporation:
Continuing operations	$ 0.39	$ 0.48	$ 0.92	$ 1.22
Discontinued operations	0	0	0	0
Total	$ 0.39	$ 0.48	$ 0.92	$ 1.22
Average common shares outstanding	322	381	331	389
Diluted earnings per common share attributable to Navient Corporation:
Continuing operations	$ 0.38	$ 0.47	$ 0.91	$ 1.20
Discontinued operations	0	0	0	0
Total	$ 0.38	$ 0.47	$ 0.91	$ 1.20
Average common and common equivalent shares outstanding	328	387	335	396
Dividends per common share attributable to Navient Corporation	$ 0.16	$ 0.16	$ 0.32	$ 0.32
FFELP Loans [Member]
Interest income:
Education loans	$ 618	$ 626	$ 1,252	$ 1,262
Less: provisions for loan losses	10	7	17	12
Private Education Loans [Member]
Interest income:
Education loans	402	434	813	891
Less: provisions for loan losses	$ 100	$ 191	$ 204	$ 311

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 125	$ 182	$ 305	$ 474
Other comprehensive income (loss):
Unrealized hedging gains (losses) on derivatives	(62)	15	(191)	(55)
Reclassification adjustments for derivative (gains) losses included in net income (interest expense)				(1)
Total unrealized gains (losses) on derivatives	(62)	15	(191)	(56)
Income tax (expense) benefit	23	(5)	71	21
Other comprehensive income (loss), net of tax expense (benefit)	(39)	10	(120)	(35)
Total comprehensive income attributable to Navient Corporation	$ 86	$ 192	$ 185	$ 439

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 (loss)	474						474	474
Other comprehensive income (loss), net of tax	(35)					(35)		(35)
Total comprehensive income	439							439
Cash dividends:
Common stock	(124)						(124)	(124)
Dividend equivalent units related to employee stock-based compensation plans	(2)						(2)	(2)
Issuance of common shares	$ 26				26			26
Issuance of common shares, Shares	4,218,408	4,218,408		4,218,408
Tax benefit related to employee stock-based compensation plans	$ 12				12			12
Stock-based compensation expense	23				23			23
Common stock repurchased	(600)		$ (600)					(600)
Common stock repurchased, Shares			(29,844,520)	(29,844,520)
Shares repurchased related to employee stock-based compensation plans	$ (43)		$ (43)					(43)
Shares repurchased related to employee stock-based compensation plans, Shares	(2,075,932)		(2,075,932)	(2,075,932)
Noncontrolling interests in businesses	$ 4								$ 4
Ending Balance, Value at Jun. 30, 2015	3,933	$ 4	$ (1,075)		2,954	(26)	2,072	3,929	4
Ending Balance, Shares at Jun. 30, 2015		429,856,043	(55,823,281)	374,032,762
Beginning Balance, Value at Mar. 31, 2015	4,091	$ 4	$ (767)		2,935	(36)	1,951	4,087	4
Beginning Balance, Shares at Mar. 31, 2015		429,222,873	(40,201,428)	389,021,445
Comprehensive income:
Net income (loss)	182						182	182
Other comprehensive income (loss), net of tax	10					10		10
Total comprehensive income	192							192
Cash dividends:
Common stock	(61)						(61)	(61)
Issuance of common shares	$ 5				5			5
Issuance of common shares, Shares	633,170	633,170		633,170
Tax benefit related to employee stock-based compensation plans	$ 3				3			3
Stock-based compensation expense	11				11			11
Common stock repurchased	(300)		$ (300)					(300)
Common stock repurchased, Shares			(15,190,685)	(15,190,685)
Shares repurchased related to employee stock-based compensation plans	$ (8)		$ (8)					(8)
Shares repurchased related to employee stock-based compensation plans, Shares	(431,168)		(431,168)	(431,168)
Ending Balance, Value at Jun. 30, 2015	$ 3,933	$ 4	$ (1,075)		2,954	(26)	2,072	3,929	4
Ending Balance, Shares at Jun. 30, 2015		429,856,043	(55,823,281)	374,032,762
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 (loss)	305						305	305
Other comprehensive income (loss), net of tax	(120)					(120)		(120)
Total comprehensive income	185							185
Cash dividends:
Common stock	(105)						(105)	(105)
Dividend equivalent units related to employee stock-based compensation plans	(3)						(3)	(3)
Issuance of common shares	$ 8				8			8
Issuance of common shares, Shares	2,966,592	2,966,592		2,966,592
Tax benefit related to employee stock-based compensation plans	$ (8)				(8)			(8)
Stock-based compensation expense	18				18			18
Common stock repurchased	(375)		$ (375)					(375)
Common stock repurchased, Shares			(32,789,662)	(32,789,662)
Shares repurchased related to employee stock-based compensation plans	$ (16)		$ (16)					(16)
Shares repurchased related to employee stock-based compensation plans, Shares	(1,354,712)		(1,354,712)	(1,354,712)
Ending Balance, Value at Jun. 30, 2016	$ 3,703	$ 4	$ (1,816)		2,985	(171)	2,677	3,679	24
Ending Balance, Shares at Jun. 30, 2016		433,528,248	(116,495,242)	317,033,006
Beginning Balance, Value at Mar. 31, 2016	3,839	$ 4	$ (1,636)		2,975	(132)	2,604	3,815	24
Beginning Balance, Shares at Mar. 31, 2016		433,061,241	(102,547,422)	330,513,819
Comprehensive income:
Net income (loss)	125						125	125
Other comprehensive income (loss), net of tax	(39)					(39)		(39)
Total comprehensive income	86							86
Cash dividends:
Common stock	(51)						(51)	(51)
Dividend equivalent units related to employee stock-based compensation plans	(1)						(1)	(1)
Issuance of common shares	$ 4				4			4
Issuance of common shares, Shares	467,007	467,007		467,007
Tax benefit related to employee stock-based compensation plans	$ 1				1			1
Stock-based compensation expense	5				5			5
Common stock repurchased	(175)		$ (175)					(175)
Common stock repurchased, Shares			(13,579,381)	(13,579,381)
Shares repurchased related to employee stock-based compensation plans	$ (5)		$ (5)					(5)
Shares repurchased related to employee stock-based compensation plans, Shares	(368,439)		(368,439)	(368,439)
Ending Balance, Value at Jun. 30, 2016	$ 3,703	$ 4	$ (1,816)		$ 2,985	$ (171)	$ 2,677	$ 3,679	$ 24
Ending Balance, Shares at Jun. 30, 2016		433,528,248	(116,495,242)	317,033,006

Consolidated Statements of Cha7

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Dividends per common share attributable to Navient Corporation	$ 0.16	$ 0.16	$ 0.32	$ 0.32
Retained Earnings [Member]
Dividends per common share attributable to Navient Corporation	0.16	0.16	0.32	0.32
Total Stockholders' Equity [Member]
Dividends per common share attributable to Navient Corporation	$ 0.16	$ 0.16	$ 0.32	$ 0.32

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating activities
Net income	$ 305	$ 474
Adjustments to reconcile net income to net cash provided by operating activities:
Gains on loans and investments, net		(12)
Goodwill and acquired intangible asset impairment and amortization expense	10	4
Stock-based compensation expense	18	23
Unrealized gains on derivative and hedging activities	(150)	(362)
Provisions for loan losses	221	323
Decrease in restricted cash - other	1	63
Decrease in accrued interest receivable	50	102
Decrease in accrued interest payable	(125)	(7)
Decrease in other assets	417	407
Increase in other liabilities	24	40
Total net cash provided by operating activities	771	1,055
Investing activities
Education loans acquired	(2,183)	(1,834)
Reduction of education loans:
Installment payments, claims and other	7,458	7,044
Proceeds from sales of education loans		386
Other investing activities, net	(51)	(18)
Proceeds from maturities of available-for-sale securities	1	1
Purchases of other securities	(43)	(3)
Proceeds from maturities of other securities	41	1
Decrease (increase) in restricted cash - variable interest entities	164	(96)
Purchase of subsidiary, net of cash acquired		(181)
Total net cash provided by investing activities	5,387	5,300
Financing activities
Borrowings collateralized by loans in trust - issued	3,791	3,424
Borrowings collateralized by loans in trust - repaid	(6,603)	(6,702)
Asset-backed commercial paper conduits, net	(2,002)	(887)
Other long-term borrowings issued		493
Other long-term borrowings repaid	(1,228)	(1,649)
Other financing activities, net	147	(139)
Common stock repurchased	(375)	(600)
Common stock dividends paid	(105)	(124)
Net cash used in financing activities	(6,375)	(6,184)
Net (decrease) increase in cash and cash equivalents	(217)	171
Cash and cash equivalents at beginning of period	1,594	1,443
Cash and cash equivalents at end of period	1,377	1,614
Cash disbursements made (refunds received) for:
Interest	1,088	991
Income taxes paid	87	$ 67
Income taxes received	$ (2)

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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 and six months ended June 30, 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, “Revenue from Contracts with Customers,” which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. In July 2015, the FASB agreed to defer the mandatory effective date by one year. Accordingly, the new standard is effective for the Company as of January 1, 2018. Early application is permitted as of January 2017. The standard permits the use of either the retrospective or cumulative effect transition method. 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. 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 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. 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 On June 16, 2016, the FASB issued ASU No. 2016-13, “Financial Instruments — Credit Losses,” which requires measurement and recognition of an allowance for loan loss that estimates remaining expected credit losses for financial assets held at the reporting date. Our current allowance for loan loss is an incurred loss model (see “Note 2 — Significant Accounting Policies” in our 2015 Form 10-K for further discussion of our current policy). The standard is to be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard update is effective for the Company on January 1, 2020, and will primarily impact the allowance for loan losses related to our Private Education Loans and FFELP Loans. Early adoption is permitted on January 1, 2019 for the Company. We are currently evaluating the impact of adopting this update on our consolidated financial statements and footnote disclosures.

Allowance for Loan Losses

Allowance for Loan Losses	6 Months Ended
	Jun. 30, 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 June 30, 2016 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 70 $ 1,434 $ 15 $ 1,519 Total provision 10 100 — 110 Charge-offs (1) (18 ) (127 ) — (145 ) Reclassification of interest reserve (2) — 3 — 3 Ending balance $ 62 $ 1,410 $ 15 $ 1,487 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,163 $ 11 $ 1,174 Ending balance: collectively evaluated for impairment $ 62 $ 247 $ 4 $ 313 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,162 $ 33 $ 11,195 Ending balance: collectively evaluated for impairment (3) $ 91,719 $ 15,478 $ 47 $ 107,244 Charge-offs as a percentage of average loans in repayment (annualized) .10 % 2.17 % 1.32 % Allowance coverage of charge-offs (annualized) .9 2.8 13.5 Allowance as a percentage of the ending total loan balance .07 % 5.29 % 18.18 % Allowance as a percentage of the ending loans in repayment .09 % 6.06 % 18.18 % Ending total loans (3) $ 91,719 $ 26,640 $ 80 Average loans in repayment $ 72,973 $ 23,561 $ 82 Ending loans in repayment $ 72,058 $ 23,265 $ 80 (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 June 30, 2015 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 91 $ 1,849 $ 23 $ 1,963 Total provision 7 191 — 198 Net adjustment resulting from the change in the charge-off rate (1) — (330 ) — (330 ) Net charge-offs remaining (2) (9 ) (179 ) (2 ) (190 ) Total net charge-offs (9 ) (509 ) (2 ) (520 ) Reclassification of interest reserve (3) — 2 — 2 Ending balance $ 89 $ 1,533 $ 21 $ 1,643 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,257 $ 17 $ 1,274 Ending balance: collectively evaluated for impairment $ 89 $ 276 $ 4 $ 369 Loans: Ending balance: individually evaluated for impairment (4) $ — $ 10,769 $ 41 $ 10,810 Ending balance: collectively evaluated for impairment (4) $ 99,207 $ 19,435 $ 55 $ 118,697 Net charge-offs as a percentage of average loans in repayment, excluding the net adjustment resulting from the change in the charge-off rate (annualized) (1) .05 % 2.74 % 8.68 % Net adjustment resulting from the change in the charge-off rate as a percentage of average loans in repayment (annualized) (1) — % 5.07 % — % Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) (1) 2.3 2.1 2.4 Allowance as a percentage of the ending total loan balance .09 % 5.08 % 21.50 % Allowance as a percentage of the ending loans in repayment .12 % 5.93 % 21.50 % Ending total loans (4) $ 99,207 $ 30,204 $ 96 Average loans in repayment $ 76,325 $ 26,122 $ 101 Ending loans in repayment $ 75,244 $ 25,865 $ 96 (1) In the second quarter of 2015, the portion of the loan amount charged off at default on Private Education Loans 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. (2) 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. (3) 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. (4) Ending total loans for Private Education Loans includes the receivable for partially charged-off loans. Six Months Ended June 30, 2016 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 78 $ 1,471 $ 15 $ 1,564 Total provision 17 204 — 221 Charge-offs (1) (33 ) (271 ) — (304 ) Reclassification of interest reserve (2) — 6 — 6 Ending balance $ 62 $ 1,410 $ 15 $ 1,487 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,163 $ 11 $ 1,174 Ending balance: collectively evaluated for impairment $ 62 $ 247 $ 4 $ 313 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,162 $ 33 $ 11,195 Ending balance: collectively evaluated for impairment (3) $ 91,719 $ 15,478 $ 47 $ 107,244 Charge-offs as a percentage of average loans in repayment (annualized) .09 % 2.28 % 1.69 % Allowance coverage of charge-offs (annualized) 1.0 2.6 10.4 Allowance as a percentage of the ending total loan balance .07 % 5.29 % 18.18 % Allowance as a percentage of the ending loans in repayment .09 % 6.06 % 18.18 % Ending total loans (3) $ 91,719 $ 26,640 $ 80 Average loans in repayment $ 73,331 $ 23,871 $ 83 Ending loans in repayment $ 72,058 $ 23,265 $ 80 (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. Six Months Ended June 30, 2015 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 93 $ 1,916 $ 24 $ 2,033 Total provision 12 311 — 323 Net adjustment resulting from the change in the charge-off rate (1) — (330 ) — (330 ) Net charge-offs remaining (2) (16 ) (369 ) (3 ) (388 ) Total net charge-offs (16 ) (699 ) (3 ) (718 ) Reclassification of interest reserve (3) — 5 — 5 Ending balance $ 89 $ 1,533 $ 21 $ 1,643 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,257 $ 17 $ 1,274 Ending balance: collectively evaluated for impairment $ 89 $ 276 $ 4 $ 369 Loans: Ending balance: individually evaluated for impairment (4) $ — $ 10,769 $ 41 $ 10,810 Ending balance: collectively evaluated for impairment (4) $ 99,207 $ 19,435 $ 55 $ 118,697 Net charge-offs as a percentage of average loans in repayment, excluding the net adjustment resulting from the change in the charge-off rate (annualized) (1) .04 % 2.82 % 6.01 % Net adjustment resulting from the change in the charge-off rate as a percentage of average loans in repayment (annualized) (1) — % 2.53 % — % Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) (1) 2.8 2.1 3.3 Allowance as a percentage of the ending total loan balance .09 % 5.08 % 21.50 % Allowance as a percentage of the ending loans in repayment .12 % 5.93 % 21.50 % Ending total loans (4) $ 99,207 $ 30,204 $ 96 Average loans in repayment $ 76,896 $ 26,382 $ 103 Ending loans in repayment $ 75,244 $ 25,865 $ 96 (1) In the second quarter of 2015, the portion of the loan amount charged off at default on Private Education Loans 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. (2) 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. (3) 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. (4) 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 June 30, 2016 December 31, 2015 (Dollars in millions) Balance (3) % of Balance Balance (3) % of Balance Credit Quality Indicators School Type/FICO Scores: Traditional $ 23,697 92 % $ 25,280 92 % Non-Traditional (1) 2,096 8 2,235 8 Total $ 25,793 100 % $ 27,515 100 % Cosigners: With cosigner $ 16,621 64 % $ 17,738 64 % Without cosigner 9,172 36 9,777 36 Total $ 25,793 100 % $ 27,515 100 % Seasoning (2) : 1-12 payments $ 1,448 6 % $ 1,776 7 % 13-24 payments 1,596 6 1,977 7 25-36 payments 2,486 10 2,982 11 37-48 payments 3,431 13 3,787 14 More than 48 payments 15,196 59 14,953 54 Not yet in repayment 1,636 6 2,040 7 Total $ 25,793 100 % $ 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 June 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 7,149 $ 8,257 Loans in forbearance (2) 12,512 13,298 Loans in repayment and percentage of each status: Loans current 62,581 86.8 % 62,651 84.7 % Loans delinquent 31-60 days (3) 2,668 3.7 3,285 4.5 Loans delinquent 61-90 days (3) 1,605 2.3 1,856 2.5 Loans delinquent greater than 90 days (3) 5,204 7.2 6,142 8.3 Total FFELP Loans in repayment 72,058 100 % 73,934 100 % Total FFELP Loans, gross 91,719 95,489 FFELP Loan unamortized premium 961 1,087 Total FFELP Loans 92,680 96,576 FFELP Loan allowance for losses (62 ) (78 ) FFELP Loans, net $ 92,618 $ 96,498 Percentage of FFELP Loans in repayment 78.6 % 77.4 % Delinquencies as a percentage of FFELP Loans in repayment 13.2 % 15.3 % FFELP Loans in forbearance as a percentage of loans in repayment and forbearance 14.8 % 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 June 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 1,489 $ 1,859 Loans in forbearance (2) 792 863 Loans in repayment and percentage of each status: Loans current 20,225 94.4 % 21,085 93.5 % Loans delinquent 31-60 days (3) 401 1.9 491 2.2 Loans delinquent 61-90 days (3) 242 1.1 292 1.3 Loans delinquent greater than 90 days (3) 548 2.6 690 3.0 Total traditional loans in repayment 21,416 100 % 22,558 100 % Total traditional loans, gross 23,697 25,280 Traditional loans unamortized discount (431 ) (470 ) Total traditional loans 23,266 24,810 Traditional loans receivable for partially charged-off loans 541 560 Traditional loans allowance for losses (1,186 ) (1,236 ) Traditional loans, net $ 22,621 $ 24,134 Percentage of traditional loans in repayment 90.4 % 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 June 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 147 $ 181 Loans in forbearance (2) 100 110 Loans in repayment and percentage of each status: Loans current 1,618 87.5 % 1,646 84.7 % Loans delinquent 31-60 days (3) 66 3.6 86 4.4 Loans delinquent 61-90 days (3) 45 2.4 56 2.9 Loans delinquent greater than 90 days (3) 120 6.5 156 8.0 Total non-traditional loans in repayment 1,849 100 % 1,944 100 % Total non-traditional loans, gross 2,096 2,235 Non-traditional loans unamortized discount (58 ) (61 ) Total non-traditional loans 2,038 2,174 Non-traditional loans receivable for partially charged-off loans 306 321 Non-traditional loans allowance for losses (224 ) (235 ) Non-traditional loans, net $ 2,120 $ 2,260 Percentage of non-traditional loans in repayment 88.2 % 87.0 % Delinquencies as a percentage of non-traditional loans in repayment 12.5 % 15.3 % Loans in forbearance as a percentage of loans in repayment and forbearance 5.1 % 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 Six Months Ended (Dollars in millions) 2016 2015 2016 2015 Receivable at beginning of period $ 867 $ 1,236 $ 881 $ 1,245 Expected future recoveries of current period defaults (1) 32 46 68 108 Recoveries (2) (52 ) (50 ) (102 ) (102 ) Net adjustment resulting from the change in the charge-off rate (3) — (330 ) — (330 ) Net charge-offs remaining — — — (19 ) Total net charge-offs — (330 ) — (349 ) Receivable at end of period $ 847 $ 902 $ 847 $ 902 (1) Represents the difference between the defaulted 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 total charge-offs as reported in the “Allowance for Private Education Loan Losses” table. 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 58 percent and 56 percent of the loans granted forbearance have qualified as a TDR loan at June 30, 2016 and December 31, 2015, respectively. The unpaid principal balance of TDR loans that were in an interest rate reduction plan as of June 30, 2016 and December 31, 2015 was $2.8 billion and $2.5 billion, respectively. At June 30, 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 June 30, 2016 Private Education Loans — Traditional $ 9,351 $ 9,404 $ 964 Private Education Loans — Non-Traditional 1,409 1,415 199 Total $ 10,760 $ 10,819 $ 1,163 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 tables provide the average recorded investment and interest income recognized for our TDR loans. Three Months Ended June 30, 2016 2015 (Dollars in millions) Average Interest Average Interest Private Education Loans — Traditional $ 9,320 $ 138 $ 8,943 $ 135 Private Education Loans — Non-Traditional 1,418 27 1,466 29 Total $ 10,738 $ 165 $ 10,409 $ 164 Six Months Ended June 30, 2016 2015 (Dollars in millions) Average Interest Average Interest Private Education Loans — Traditional $ 9,271 $ 276 $ 8,900 $ 267 Private Education Loans — Non-Traditional 1,425 54 1,471 58 Total $ 10,696 $ 330 $ 10,371 $ 325 The following table provides information regarding the loan status and aging of TDR loans that are past due. TDR Loan Delinquencies June 30, 2016 December 31, 2015 (Dollars in millions) Balance % Balance % Loans in deferment (1) $ 609 $ 706 Loans in forbearance (2) 648 695 Loans in repayment and percentage of each status: Loans current 8,424 88.1 % 7,885 85.3 % Loans delinquent 31-60 days (3) 356 3.7 414 4.5 Loans delinquent 61-90 days (3) 228 2.4 263 2.8 Loans delinquent greater than 90 days (3) 554 5.8 679 7.4 Total TDR loans in repayment 9,562 100 % 9,241 100 % Total TDR loans, gross $ 10,819 $ 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 June 30, 2016 2015 (Dollars in millions) Modified (1) Charge- (2) Payment Modified (1) Charge- (2) Payment Private Education Loans — Traditional $ 286 $ 74 $ 56 $ 339 $ 101 $ 83 Private Education Loans — Non-Traditional 25 20 10 36 30 14 Total $ 311 $ 94 $ 66 $ 375 $ 131 $ 97 Six Months Ended June 30, 2016 2015 (Dollars in millions) Modified (1) Charge- (2) Payment Modified (1) Charge- (2) Payment Private Education Loans — Traditional $ 628 $ 154 $ 118 $ 768 $ 192 $ 183 Private Education Loans — Non-Traditional 52 42 21 79 58 32 Total $ 680 $ 196 $ 139 $ 847 $ 250 $ 215 (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 June 30, 2016 Private Education Loans — Traditional $ 385 $ 25 Private Education Loans — Non-Traditional 49 8 Total $ 434 $ 33 December 31, 2015 Private Education Loans — Traditional $ 433 $ 26 Private Education Loans — Non-Traditional 57 9 Total $ 490 $ 35

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Borrowings	3. Borrowings The following table summarizes our borrowings. June 30, 2016 December 31, 2015 (Dollars in millions) Short Long Total Short Long Total Unsecured borrowings: Senior unsecured debt $ 1,077 $ 12,801 $ 13,878 $ 1,120 $ 13,976 $ 15,096 Total unsecured borrowings 1,077 12,801 13,878 1,120 13,976 15,096 Secured borrowings: FFELP Loan securitizations — 75,698 75,698 — 77,764 77,764 Private Education Loan securitizations (1) — 16,168 16,168 — 16,900 16,900 FFELP Loan — other facilities — 14,609 14,609 — 16,276 16,276 Private Education Loan — other facilities 361 — 361 710 — 710 Other (2) 955 — 955 760 — 760 Total secured borrowings 1,316 106,475 107,791 1,470 110,940 112,410 Total before hedge accounting adjustments 2,393 119,276 121,669 2,590 124,916 127,506 Hedge accounting adjustments (23 ) 361 338 (20 ) (83 ) (103 ) Total $ 2,370 $ 119,637 $ 122,007 $ 2,570 $ 124,833 $ 127,403 (1) Includes $1.0 billion and $546 million of long-term debt related to the Private Education Loan asset-backed securitization repurchase facility (“Repurchase Facility”) as of June 30, 2016 and December 31, 2015, respectively. (2) “Other” includes the obligation to return cash collateral held related to derivative exposures. Variable Interest Entities We consolidated the following financing VIEs as of June 30, 2016 and December 31, 2015, as we are the primary beneficiary. As a result, these VIEs are accounted for as secured borrowings. June 30, 2016 Debt Outstanding Carrying Amount of Assets Securing (Dollars in millions) Short Long Total Loans Cash Other Total Secured Borrowings — VIEs: FFELP Loan securitizations $ — $ 75,698 $ 75,698 $ 76,330 $ 2,649 $ 754 $ 79,733 Private Education Loan securitizations (1) — 16,168 16,168 21,213 477 284 21,974 FFELP Loan — other facilities — 11,009 11,009 11,283 285 171 11,739 Private Education Loan — other facilities 361 — 361 534 8 16 558 Total before hedge accounting adjustments 361 102,875 103,236 109,360 3,419 1,225 114,004 Hedge accounting adjustments — (772 ) (772 ) — — (793 ) (793 ) Total $ 361 $ 102,103 $ 102,464 $ 109,360 $ 3,419 $ 432 $ 113,211 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 $1.0 billion and $546 million of long-term debt related to the Repurchase Facility as of June 30, 2016 and December 31, 2015, respectively. Includes $69 million and $41 million of restricted cash related to the Repurchase Facility as of June 30, 2016 and December 31, 2015, respectively.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 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 June 30, 2016 and December 31, 2015, and their impact on other comprehensive income and earnings for the three and six months ended June 30, 2016 and 2015. Impact of Derivatives on Consolidated Balance Sheet Cash Flow Fair Value Trading Total (Dollars in millions) Hedged Risk June 30, Dec. 31, June 30, Dec. 31, June 30, Dec. 31, June 30, Dec. 31, Fair Values (1) Derivative Assets: Interest rate swaps Interest rate $ — $ — $ 1,006 $ 694 $ 92 $ 32 $ 1,098 $ 726 Cross-currency interest rate swaps Foreign currency — — 10 2 — — 10 2 Other (2) Interest rate — — — — 1 — 1 — Total derivative assets (3) — — 1,016 696 93 32 1,109 728 Derivative Liabilities: Interest rate swaps Interest rate (280 ) (89 ) — (3 ) (65 ) (68 ) (345 ) (160 ) Floor Income Contracts Interest rate — — — — (406 ) (365 ) (406 ) (365 ) Cross-currency interest rate swaps Foreign currency — — (835 ) (926 ) (17 ) (62 ) (852 ) (988 ) Other (2) Interest rate — — — — (8 ) (2 ) (8 ) (2 ) Total derivative liabilities (3) (280 ) (89 ) (835 ) (929 ) (496 ) (497 ) (1,611 ) (1,515 ) Net total derivatives $ (280 ) $ (89 ) $ 181 $ (233 ) $ (403 ) $ (465 ) $ (502 ) $ (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) June 30, December 31, June 30, December 31, Gross position $ 1,109 $ 728 $ (1,611 ) $ (1,515 ) Impact of master netting agreements (26 ) (50 ) 26 50 Derivative values with impact of master netting agreements (as carried on balance sheet) 1,083 678 (1,585 ) (1,465 ) Cash collateral (held) pledged (451 ) (759 ) 511 466 Net position $ 632 $ (81 ) $ (1,074 ) $ (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 June 30, 2016 and December 31, 2015 by $1 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 June 30, 2016 and December 31, 2015 by $29 million and $31 million, respectively. Cash Flow Fair Value Trading Total (Dollars in billions) Jun. 30, Dec. 31, Jun. 30, Dec. 31, Jun. 30, Dec. 31, Jun. 30, Dec. 31, Notional Values: Interest rate swaps $ 14.7 $ 9.5 $ 11.5 $ 12.6 $ 32.0 $ 33.8 $ 58.2 $ 55.9 Floor Income Contracts — — — — 16.5 35.1 16.5 35.1 Cross-currency interest rate swaps — — 8.8 9.1 .3 .3 9.1 9.4 Other (1) — — — — 3.0 3.2 3.0 3.2 Total derivatives $ 14.7 $ 9.5 $ 20.3 $ 21.7 $ 51.8 $ 72.4 $ 86.8 $ 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 June 30, 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 $ 71 $ (235 ) $ 68 $ 86 $ (68 ) $ 252 $ 71 $ 103 Cross-currency interest rate swaps (275 ) 302 (20 ) 3 252 (340 ) (43 ) (35 ) Total fair value derivatives (204 ) 67 48 89 184 (88 ) 28 68 Cash Flow Hedges: Interest rate swaps — — (11 ) — — — (11 ) — Total cash flow derivatives — — (11 ) — — — (11 ) — Trading: Interest rate swaps 11 (5 ) 11 9 — — 22 4 Floor Income Contracts 7 171 (56 ) (163 ) — — (49 ) 8 Cross-currency interest rate swaps 25 (5 ) (1 ) (1 ) — — 24 (6 ) Other (4 ) (2 ) (1 ) (1 ) — — (5 ) (3 ) Total trading derivatives 39 159 (47 ) (156 ) — — (8 ) 3 Total (165 ) 226 (10 ) (67 ) 184 (88 ) 9 71 Less: realized gains (losses) recorded in interest expense — — 37 89 — — 37 89 Gains (losses) on derivative and hedging activities, net $ (165 ) $ 226 $ (47 ) $ (156 ) $ 184 $ (88 ) $ (28 ) $ (18 ) (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.” Six Months Ended June 30, 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 $ 315 $ (115 ) $ 139 $ 182 $ (347 ) $ 123 $ 107 $ 190 Cross-currency interest rate swaps 99 (540 ) (36 ) 4 (54 ) 647 9 111 Total fair value derivatives 414 (655 ) 103 186 (401 ) 770 116 301 Cash Flow Hedges: Interest rate swaps — — (11 ) — — — (11 ) — Total cash flow derivatives — — (11 ) — — — (11 ) — Trading: Interest rate swaps 63 13 20 20 — — 83 33 Floor Income Contracts 34 243 (194 ) (325 ) — — (160 ) (82 ) Cross-currency interest rate swaps 45 (5 ) (2 ) (2 ) — — 43 (7 ) Other (5 ) (4 ) (1 ) (2 ) — — (6 ) (6 ) Total trading derivatives 137 247 (177 ) (309 ) — — (40 ) (62 ) Total 551 (408 ) (85 ) (123 ) (401 ) 770 65 239 Less: realized gains (losses) recorded in interest expense — — 92 186 — — 92 186 Gains (losses) on derivative and hedging activities, net $ 551 $ (408 ) $ (177 ) $ (309 ) $ (401 ) $ 770 $ (27 ) $ 53 (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) June 30, December 31, Collateral held: Cash (obligation to return cash collateral is recorded in short-term borrowings) (1) $ 451 $ 759 Securities at fair value — corporate derivatives (not recorded in the financial statements) (2) 503 — Securities at fair value — on-balance sheet securitization derivatives (not recorded in financial statements) (3) 391 301 Total collateral held $ 1,345 $ 1,060 Derivative asset at fair value including accrued interest $ 1,272 $ 896 Collateral pledged to others: Cash (right to receive return of cash collateral is recorded in investments) $ 511 $ 466 Total collateral pledged $ 511 $ 466 Derivative liability at fair value including accrued interest and premium receivable $ 1,610 $ 1,395 (1) At June 30, 2016 and December 31, 2015, $11 million and $2 million, respectively, were held in restricted cash accounts. (2) The Company has the ability to sell or re-pledge securities it holds as collateral. (3) 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 $781 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	6 Months Ended
	Jun. 30, 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) June 30, December 31, Accrued interest receivable, net $ 1,596 $ 1,646 Derivatives at fair value 1,083 678 Income tax asset, net current and deferred 871 906 Benefit and insurance-related investments 483 491 Fixed assets, net 160 162 Accounts receivable 92 329 Other loans, net 65 70 Other 432 400 Total $ 4,782 $ 4,682

Business Combinations - Acquisi

Business Combinations - Acquisition of Gila LLC and Xtend Healthcare	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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 an 89 percent controlling interest in Xtend Healthcare for approximately $164 million. Xtend Healthcare is a healthcare 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. As of June 2016, the Company finalized its purchase price allocation for Xtend Healthcare which resulted in an excess purchase price over the fair value of net assets acquired, or goodwill, of $102 million. Identifiable intangible assets at the acquisition date included definite life intangible assets with an estimated aggregate fair value of approximately $65 million primarily including customer relationships, developed technology, and the Xtend Healthcare trade name. These intangible assets will be amortized over a period of 10 to 15 years based on the economic benefit derived from each of the underlying assets.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Stockholders' Equity	7. Stockholders’ Equity The following table summarizes common share repurchases and issuances. Three Months Ended Six Months Ended 2016 2015 2016 2015 Common shares repurchased (1) 13,579,381 15,190,685 32,789,662 29,844,520 Average purchase price per share $ 12.90 $ 19.76 $ 11.45 $ 20.12 Shares repurchased related to employee stock-based compensation plans (2) 368,439 431,168 1,354,712 2,075,932 Average purchase price per share $ 13.05 $ 19.83 $ 10.80 $ 20.65 Common shares issued (3) 467,007 633,170 2,966,592 4,218,408 (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 June 30, 2016 was $11.95. Dividend and Share Repurchase Program In June 2016 and March 2016, we paid a common stock dividend of $0.16 per share. We repurchased 32.8 million shares of common stock for $375 million in the six months ended June 30, 2016. The shares were repurchased under our previously disclosed share repurchase programs. As of June 30, 2016, the remaining repurchase authority was $380 million. In the six months ended June 30, 2015, we repurchased 29.8 million shares for $600 million.

Earnings per Common Share

Earnings per Common Share	6 Months Ended
	Jun. 30, 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 Six Months Ended (In millions, except per share data) 2016 2015 2016 2015 Numerator: Net income attributable to Navient Corporation $ 125 $ 182 $ 305 $ 474 Denominator: Weighted average shares used to compute basic EPS 322 381 331 389 Effect of dilutive securities: Dilutive effect of stock options, non-vested restricted stock, restricted stock units and Employee Stock Purchase Plans (“ESPPs”) (1) 6 6 4 7 Dilutive potential common shares (2) 6 6 4 7 Weighted average shares used to compute diluted EPS 328 387 335 396 Basic earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .39 $ .48 $ .92 $ 1.22 Discontinued operations — — — — Total $ .39 $ .48 $ .92 $ 1.22 Diluted earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .38 $ .47 $ .91 $ 1.20 Discontinued operations — — — — Total $ .38 $ .47 $ .91 $ 1.20 (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 June 30, 2016 and 2015, stock options covering approximately 5 million and 3 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive. For the six months ended June 30, 2016 and 2015, stock options covering approximately 5 million and 3 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	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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 June 30, 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 — 3 — 3 — 4 — 4 Total available-for-sale investments — 4 — 4 — 5 — 5 Derivative instruments: (1) Interest rate swaps — 1,070 28 1,098 — 709 17 726 Cross-currency interest rate swaps — — 10 10 — — 2 2 Other — — 1 1 — — — — Total derivative assets (3) — 1,070 39 1,109 — 709 19 728 Total $ — $ 1,074 $ 39 $ 1,113 $ — $ 714 $ 19 $ 733 Liabilities (2) Derivative instruments (1) Interest rate swaps $ — $ (280 ) $ (65 ) $ (345 ) $ — $ (99 ) $ (61 ) $ (160 ) Floor Income Contracts — (406 ) — (406 ) — (365 ) — (365 ) Cross-currency interest rate swaps — (41 ) (811 ) (852 ) — (83 ) (905 ) (988 ) Other — — (8 ) (8 ) — — (2 ) (2 ) Total derivative liabilities (3) — (727 ) (884 ) (1,611 ) — (547 ) (968 ) (1,515 ) Total $ — $ (727 ) $ (884 ) $ (1,611 ) $ — $ (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 June 30, 2016 2015 Derivative instruments Derivative instruments (Dollars in millions) Interest Cross Other Total Interest Cross Other Total Balance, beginning of period $ (32 ) $ (528 ) $ (4 ) $ (564 ) $ (88 ) $ (958 ) $ (13 ) $ (1,059 ) Total gains/(losses) (realized and unrealized): Included in earnings (1) (5 ) (293 ) (4 ) (302 ) 5 306 (3 ) 308 Included in other comprehensive income — — — — — — — — Settlements — 20 1 21 1 (2 ) 1 — Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (37 ) $ (801 ) $ (7 ) $ (845 ) $ (82 ) $ (654 ) $ (15 ) $ (751 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ (4 ) $ (273 ) $ (4 ) $ (281 ) $ 6 $ 304 $ (2 ) $ 308 Six Months Ended June 30, 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) 6 65 (6 ) 65 6 (534 ) (6 ) (534 ) Included in other comprehensive income — — — — — — — — Settlements 1 37 1 39 — (3 ) 2 (1 ) Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (37 ) $ (801 ) $ (7 ) $ (845 ) $ (82 ) $ (654 ) $ (15 ) $ (751 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ 8 $ 102 $ (6 ) $ 104 $ 6 $ (534 ) $ (4 ) $ (532 ) (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 Six Months Ended (Dollars in millions) 2016 2015 2016 2015 Gains (losses) on derivative and hedging activities, net $ (282 ) $ 306 $ 102 $ (537 ) Interest expense (20 ) 2 (37 ) 3 Total $ (302 ) $ 308 $ 65 $ (534 ) (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 $ 10 Discounted cash flow Bid/ask adjustment to discount rate .02% — .05% (.05%) Prime/LIBOR basis swaps (47 ) Discounted cash flow Constant prepayment rate 4.9% Bid/ask adjustment to discount rate .03% — .05% (.05%) Cross-currency interest rate swaps (801 ) Discounted cash flow Constant prepayment rate 2.8% Other (7 ) Total $ (845 ) 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. June 30, 2016 December 31, 2015 (Dollars in millions) Fair Carrying Difference Fair Carrying Difference Earning assets FFELP Loans $ 90,723 $ 92,618 $ (1,895 ) $ 94,377 $ 96,498 $ (2,121 ) Private Education Loans 24,126 24,741 (615 ) 25,772 26,394 (622 ) Cash and investments (1) 5,535 5,535 — 5,833 5,833 — Total earning assets 120,384 122,894 (2,510 ) 125,982 128,725 (2,743 ) Interest-bearing liabilities Short-term borrowings 2,376 2,370 (6 ) 2,569 2,570 1 Long-term borrowings 113,665 119,637 5,972 118,471 124,833 6,362 Total interest-bearing liabilities 116,041 122,007 5,966 121,040 127,403 6,363 Derivative financial instruments Floor Income Contracts (406 ) (406 ) — (365 ) (365 ) — Interest rate swaps 753 753 — 566 566 — Cross-currency interest rate swaps (842 ) (842 ) — (986 ) (986 ) — Other (7 ) (7 ) — (2 ) (2 ) — Excess of net asset fair value over carrying value $ 3,456 $ 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 June 30, 2016 and December 31, 2015, respectively, versus a fair value of $4 million and $5 million at June 30, 2016 and December 31, 2015, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 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	6 Months Ended
	Jun. 30, 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) June 30, December 31, FFELP Loans, net $ 92,618 $ 96,498 Cash and investments (1) 3,263 3,572 Other 1,983 2,015 Total assets $ 97,864 $ 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) June 30, December 31, Private Education Loans, net $ 24,741 $ 26,394 Cash and investments (1) 787 596 Other 2,140 1,988 Total assets $ 27,668 $ 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 June 30, 2016 and December 31, 2015, the Business Services segment had total assets of $640 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 June 30, 2016 and December 31, 2015, the Other segment had total assets of $2.2 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 June 30, 2016 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 588 $ 402 $ — $ — $ — $ 990 $ 56 $ (26 ) $ 30 $ 1,020 Other loans — — — 2 — 2 — — — 2 Cash and investments 5 — — 1 — 6 — — — 6 Total interest income 593 402 — 3 — 998 56 (26 ) 30 1,028 Total interest expense 388 173 — 29 — 590 9 — 9 599 Net interest income (loss) 205 229 — (26 ) — 408 47 (26 ) 21 429 Less: provisions for loan losses 10 100 — — — 110 — — — 110 Net interest income (loss) after provisions for loan losses 195 129 — (26 ) — 298 47 (26 ) 21 319 Other income (loss): Servicing revenue 14 3 153 — (99 ) 71 — — — 71 Asset recovery and business processing revenue — — 101 — — 101 — — — 101 Other income (loss) — — — 4 — 4 (47 ) (6 ) (53 ) (49 ) Gains on sales of loans and investments — — — — — — — — — — Gains on debt repurchases — — — — — — — — — — Total other income (loss) 14 3 254 4 (99 ) 176 (47 ) (6 ) (53 ) 123 Expenses: Direct operating expenses 101 41 125 7 (99 ) 175 — — — 175 Overhead expenses — — — 55 — 55 — — — 55 Operating expenses 101 41 125 62 (99 ) 230 — — — 230 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 6 6 6 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 101 41 125 62 (99 ) 230 — 6 6 236 Income (loss) from continuing operations, before income tax expense (benefit) 108 91 129 (84 ) — 244 — (38 ) (38 ) 206 Income tax expense (benefit) (3) 40 34 48 (32 ) — 90 — (9 ) (9 ) 81 Net income (loss) from continuing operations 68 57 81 (52 ) — 154 — (29 ) (29 ) 125 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 68 $ 57 $ 81 $ (52 ) $ — $ 154 $ — $ (29 ) $ (29 ) $ 125 (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 June 30, 2016 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 21 $ — $ 21 Total other income (loss) — (53 ) — (53 ) Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 6 6 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ (32 ) $ (6 ) (38 ) Income tax expense (benefit) (9 ) Net income (loss) $ (29 ) (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Three Months Ended June 30, 2015 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 522 $ 434 $ — $ — $ — $ 956 $ 163 $ (59 ) $ 104 $ 1,060 Other loans — — — 2 — 2 — — — 2 Cash and investments 1 — — 1 — 2 — — — 2 Total interest income 523 434 — 3 — 960 163 (59 ) 104 1,064 Total interest expense 309 171 — 28 — 508 7 — 7 515 Net interest income (loss) 214 263 — (25 ) — 452 156 (59 ) 97 549 Less: provisions for loan losses 7 191 — — — 198 — — — 198 Net interest income (loss) after provisions for loan losses 207 72 — (25 ) — 254 156 (59 ) 97 351 Other income (loss): Servicing revenue 45 6 163 — (108 ) 106 — — — 106 Asset recovery and business processing revenue — — 99 — — 99 — — — 99 Other income (loss) — — — 3 — 3 (156 ) 142 (14 ) (11 ) Gains on sales of loans and investments 7 — — — — 7 — — — 7 Gains on debt repurchases — — — — — — — — — — Total other income (loss) 52 6 262 3 (108 ) 215 (156 ) 142 (14 ) 201 Expenses: Direct operating expenses 112 43 117 6 (108 ) 170 — — — 170 Overhead expenses — — — 55 — 55 — — — 55 Operating expenses 112 43 117 61 (108 ) 225 — — — 225 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 3 3 3 Restructuring and other reorganization expenses — — — — — — — 29 29 29 Total expenses 112 43 117 61 (108 ) 225 — 32 32 257 Income (loss) from continuing operations, before income tax expense (benefit) 147 35 145 (83 ) — 244 — 51 51 295 Income tax expense (benefit) (3) 54 13 54 (31 ) — 90 — 23 23 113 Net income (loss) from continuing operations $ 93 $ 22 $ 91 $ (52 ) $ — $ 154 $ — $ 28 $ 28 $ 182 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 93 $ 22 $ 91 $ (52 ) $ — $ 154 $ — $ 28 $ 28 $ 182 (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 June 30, 2015 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 97 $ — $ 97 Total other income (loss) — (14 ) — (14 ) Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 3 3 Restructuring and other reorganization expenses 29 — — 29 Total “Core Earnings” adjustments to GAAP $ (29 ) $ 83 $ (3 ) 51 Income tax expense (benefit) 23 Net income (loss) $ 28 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Six Months Ended June 30, 2016 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 1,143 $ 813 $ — $ — $ — $ 1,956 $ 195 $ (86 ) $ 109 $ 2,065 Other loans — — — 3 — 3 — — — 3 Cash and investments 8 1 — 3 — 12 — — — 12 Total interest income 1,151 814 — 6 — 1,971 195 (86 ) 109 2,080 Total interest expense 746 345 — 56 — 1,147 18 — 18 1,165 Net interest income (loss) 405 469 — (50 ) — 824 177 (86 ) 91 915 Less: provisions for loan losses 17 204 — — — 221 — — — 221 Net interest income (loss) after provisions for loan losses 388 265 — (50 ) — 603 177 (86 ) 91 694 Other income (loss): Servicing revenue 31 8 315 — (200 ) 154 — — — 154 Asset recovery and business processing revenue — — 191 — — 191 — — — 191 Other income (loss) — — — 7 — 7 (177 ) 108 (69 ) (62 ) Gains on sales of loans and investments — — — — — — — — — — Gains on debt repurchases — — — — — — — — — — Total other income (loss) 31 8 506 7 (200 ) 352 (177 ) 108 (69 ) 283 Expenses: Direct operating expenses 206 84 258 14 (200 ) 362 — — — 362 Overhead expenses — — — 116 — 116 — — — 116 Operating expenses 206 84 258 130 (200 ) 478 — — — 478 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 10 10 10 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 206 84 258 130 (200 ) 478 — 10 10 488 Income (loss) from continuing operations, before income tax expense (benefit) 213 189 248 (173 ) — 477 — 12 12 489 Income tax expense (benefit) (3) 79 70 91 (64 ) — 176 — 8 8 184 Net income (loss) from continuing operations 134 119 157 (109 ) — 301 — 4 4 305 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 134 $ 119 $ 157 $ (109 ) $ — $ 301 $ — $ 4 $ 4 $ 305 (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: Six Months Ended June 30, 2016 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 91 $ — $ 91 Total other income (loss) — (69 ) — (69 ) Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 10 10 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ 22 $ (10 ) 12 Income tax expense (benefit) 8 Net income (loss) $ 4 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Six Months Ended June 30, 2015 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 1,055 $ 891 $ — $ — $ — $ 1,946 $ 325 $ (118 ) $ 207 $ 2,153 Other loans — — — 4 — 4 — — — 4 Cash and investments 3 — — 1 — 4 — — — 4 Total interest income 1,058 891 — 5 — 1,954 325 (118 ) 207 2,161 Total interest expense 611 345 — 57 — 1,013 16 — 16 1,029 Net interest income (loss) 447 546 — (52 ) — 941 309 (118 ) 191 1,132 Less: provisions for loan losses 12 311 — — — 323 — — — 323 Net interest income (loss) after provisions for loan losses 435 235 — (52 ) — 618 309 (118 ) 191 809 Other income (loss): Servicing revenue 63 12 326 — (219 ) 182 — — — 182 Asset recovery and business processing revenue — — 188 — — 188 — — — 188 Other income (loss) — — 2 8 — 10 (309 ) 367 58 68 Gains on sales of loans and investments 12 — — — — 12 — — — 12 Gains on debt repurchases — — — — — — — — — — Total other income (loss) 75 12 516 8 (219 ) 392 (309 ) 367 58 450 Expenses: Direct operating expenses 227 89 233 8 (219 ) 338 — — — 338 Overhead expenses — — — 118 — 118 — — — 118 Operating expenses 227 89 233 126 (219 ) 456 — — — 456 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 4 4 4 Restructuring and other reorganization expenses — — — — — — — 32 32 32 Total expenses 227 89 233 126 (219 ) 456 — 36 36 492 Income (loss) from continuing operations, before income tax expense (benefit) 283 158 283 (170 ) — 554 — 213 213 767 Income tax expense (benefit) (3) 106 58 106 (64 ) — 206 — 87 87 293 Net income (loss) from continuing operations $ 177 $ 100 $ 177 $ (106 ) $ — $ 348 $ — $ 126 $ 126 $ 474 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 177 $ 100 $ 177 $ (106 ) $ — $ 348 $ — $ 126 $ 126 $ 474 (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: Six Months Ended June 30, 2015 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 191 $ — $ 191 Total other income (loss) — 58 — 58 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 4 4 Restructuring and other reorganization expenses 32 — — 32 Total “Core Earnings” adjustments to GAAP $ (32 ) $ 249 $ (4 ) 213 Income tax expense (benefit) 87 Net income (loss) $ 126 (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 Six Months Ended (Dollars in millions) 2016 2015 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) $ — $ (29 ) $ — $ (32 ) Net impact of derivative accounting (2) (32 ) 83 22 249 Net impact of goodwill and acquired intangibles assets (3) (6 ) (3 ) (10 ) (4 ) Net tax effect (4) 9 (23 ) (8 ) (87 ) Total “Core Earnings” adjustments to GAAP $ (29 ) $ 28 $ 4 $ 126 (1) SLM BankCo’s operations and restructuring and other 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)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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 and six months ended June 30, 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, “Revenue from Contracts with Customers,” which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. In July 2015, the FASB agreed to defer the mandatory effective date by one year. Accordingly, the new standard is effective for the Company as of January 1, 2018. Early application is permitted as of January 2017. The standard permits the use of either the retrospective or cumulative effect transition method. 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. 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 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. 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 On June 16, 2016, the FASB issued ASU No. 2016-13, “Financial Instruments — Credit Losses,” which requires measurement and recognition of an allowance for loan loss that estimates remaining expected credit losses for financial assets held at the reporting date. Our current allowance for loan loss is an incurred loss model (see “Note 2 — Significant Accounting Policies” in our 2015 Form 10-K for further discussion of our current policy). The standard is to be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard update is effective for the Company on January 1, 2020, and will primarily impact the allowance for loan losses related to our Private Education Loans and FFELP Loans. Early adoption is permitted on January 1, 2019 for the Company. We are currently evaluating the impact of adopting this update on our consolidated financial statements and footnote disclosures.

Allowance for Loan Losses (Tabl

Allowance for Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2016
Allowance for Credit Losses and Recorded Investments in Loans	Allowance for Loan Losses Metrics Three Months Ended June 30, 2016 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 70 $ 1,434 $ 15 $ 1,519 Total provision 10 100 — 110 Charge-offs (1) (18 ) (127 ) — (145 ) Reclassification of interest reserve (2) — 3 — 3 Ending balance $ 62 $ 1,410 $ 15 $ 1,487 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,163 $ 11 $ 1,174 Ending balance: collectively evaluated for impairment $ 62 $ 247 $ 4 $ 313 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,162 $ 33 $ 11,195 Ending balance: collectively evaluated for impairment (3) $ 91,719 $ 15,478 $ 47 $ 107,244 Charge-offs as a percentage of average loans in repayment (annualized) .10 % 2.17 % 1.32 % Allowance coverage of charge-offs (annualized) .9 2.8 13.5 Allowance as a percentage of the ending total loan balance .07 % 5.29 % 18.18 % Allowance as a percentage of the ending loans in repayment .09 % 6.06 % 18.18 % Ending total loans (3) $ 91,719 $ 26,640 $ 80 Average loans in repayment $ 72,973 $ 23,561 $ 82 Ending loans in repayment $ 72,058 $ 23,265 $ 80 (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 June 30, 2015 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 91 $ 1,849 $ 23 $ 1,963 Total provision 7 191 — 198 Net adjustment resulting from the change in the charge-off rate (1) — (330 ) — (330 ) Net charge-offs remaining (2) (9 ) (179 ) (2 ) (190 ) Total net charge-offs (9 ) (509 ) (2 ) (520 ) Reclassification of interest reserve (3) — 2 — 2 Ending balance $ 89 $ 1,533 $ 21 $ 1,643 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,257 $ 17 $ 1,274 Ending balance: collectively evaluated for impairment $ 89 $ 276 $ 4 $ 369 Loans: Ending balance: individually evaluated for impairment (4) $ — $ 10,769 $ 41 $ 10,810 Ending balance: collectively evaluated for impairment (4) $ 99,207 $ 19,435 $ 55 $ 118,697 Net charge-offs as a percentage of average loans in repayment, excluding the net adjustment resulting from the change in the charge-off rate (annualized) (1) .05 % 2.74 % 8.68 % Net adjustment resulting from the change in the charge-off rate as a percentage of average loans in repayment (annualized) (1) — % 5.07 % — % Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) (1) 2.3 2.1 2.4 Allowance as a percentage of the ending total loan balance .09 % 5.08 % 21.50 % Allowance as a percentage of the ending loans in repayment .12 % 5.93 % 21.50 % Ending total loans (4) $ 99,207 $ 30,204 $ 96 Average loans in repayment $ 76,325 $ 26,122 $ 101 Ending loans in repayment $ 75,244 $ 25,865 $ 96 (1) In the second quarter of 2015, the portion of the loan amount charged off at default on Private Education Loans 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. (2) 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. (3) 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. (4) Ending total loans for Private Education Loans includes the receivable for partially charged-off loans. Six Months Ended June 30, 2016 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 78 $ 1,471 $ 15 $ 1,564 Total provision 17 204 — 221 Charge-offs (1) (33 ) (271 ) — (304 ) Reclassification of interest reserve (2) — 6 — 6 Ending balance $ 62 $ 1,410 $ 15 $ 1,487 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,163 $ 11 $ 1,174 Ending balance: collectively evaluated for impairment $ 62 $ 247 $ 4 $ 313 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,162 $ 33 $ 11,195 Ending balance: collectively evaluated for impairment (3) $ 91,719 $ 15,478 $ 47 $ 107,244 Charge-offs as a percentage of average loans in repayment (annualized) .09 % 2.28 % 1.69 % Allowance coverage of charge-offs (annualized) 1.0 2.6 10.4 Allowance as a percentage of the ending total loan balance .07 % 5.29 % 18.18 % Allowance as a percentage of the ending loans in repayment .09 % 6.06 % 18.18 % Ending total loans (3) $ 91,719 $ 26,640 $ 80 Average loans in repayment $ 73,331 $ 23,871 $ 83 Ending loans in repayment $ 72,058 $ 23,265 $ 80 (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. Six Months Ended June 30, 2015 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 93 $ 1,916 $ 24 $ 2,033 Total provision 12 311 — 323 Net adjustment resulting from the change in the charge-off rate (1) — (330 ) — (330 ) Net charge-offs remaining (2) (16 ) (369 ) (3 ) (388 ) Total net charge-offs (16 ) (699 ) (3 ) (718 ) Reclassification of interest reserve (3) — 5 — 5 Ending balance $ 89 $ 1,533 $ 21 $ 1,643 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,257 $ 17 $ 1,274 Ending balance: collectively evaluated for impairment $ 89 $ 276 $ 4 $ 369 Loans: Ending balance: individually evaluated for impairment (4) $ — $ 10,769 $ 41 $ 10,810 Ending balance: collectively evaluated for impairment (4) $ 99,207 $ 19,435 $ 55 $ 118,697 Net charge-offs as a percentage of average loans in repayment, excluding the net adjustment resulting from the change in the charge-off rate (annualized) (1) .04 % 2.82 % 6.01 % Net adjustment resulting from the change in the charge-off rate as a percentage of average loans in repayment (annualized) (1) — % 2.53 % — % Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) (1) 2.8 2.1 3.3 Allowance as a percentage of the ending total loan balance .09 % 5.08 % 21.50 % Allowance as a percentage of the ending loans in repayment .12 % 5.93 % 21.50 % Ending total loans (4) $ 99,207 $ 30,204 $ 96 Average loans in repayment $ 76,896 $ 26,382 $ 103 Ending loans in repayment $ 75,244 $ 25,865 $ 96 (1) In the second quarter of 2015, the portion of the loan amount charged off at default on Private Education Loans 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. (2) 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. (3) 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. (4) 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 June 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 7,149 $ 8,257 Loans in forbearance (2) 12,512 13,298 Loans in repayment and percentage of each status: Loans current 62,581 86.8 % 62,651 84.7 % Loans delinquent 31-60 days (3) 2,668 3.7 3,285 4.5 Loans delinquent 61-90 days (3) 1,605 2.3 1,856 2.5 Loans delinquent greater than 90 days (3) 5,204 7.2 6,142 8.3 Total FFELP Loans in repayment 72,058 100 % 73,934 100 % Total FFELP Loans, gross 91,719 95,489 FFELP Loan unamortized premium 961 1,087 Total FFELP Loans 92,680 96,576 FFELP Loan allowance for losses (62 ) (78 ) FFELP Loans, net $ 92,618 $ 96,498 Percentage of FFELP Loans in repayment 78.6 % 77.4 % Delinquencies as a percentage of FFELP Loans in repayment 13.2 % 15.3 % FFELP Loans in forbearance as a percentage of loans in repayment and forbearance 14.8 % 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 June 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 1,489 $ 1,859 Loans in forbearance (2) 792 863 Loans in repayment and percentage of each status: Loans current 20,225 94.4 % 21,085 93.5 % Loans delinquent 31-60 days (3) 401 1.9 491 2.2 Loans delinquent 61-90 days (3) 242 1.1 292 1.3 Loans delinquent greater than 90 days (3) 548 2.6 690 3.0 Total traditional loans in repayment 21,416 100 % 22,558 100 % Total traditional loans, gross 23,697 25,280 Traditional loans unamortized discount (431 ) (470 ) Total traditional loans 23,266 24,810 Traditional loans receivable for partially charged-off loans 541 560 Traditional loans allowance for losses (1,186 ) (1,236 ) Traditional loans, net $ 22,621 $ 24,134 Percentage of traditional loans in repayment 90.4 % 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 June 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 147 $ 181 Loans in forbearance (2) 100 110 Loans in repayment and percentage of each status: Loans current 1,618 87.5 % 1,646 84.7 % Loans delinquent 31-60 days (3) 66 3.6 86 4.4 Loans delinquent 61-90 days (3) 45 2.4 56 2.9 Loans delinquent greater than 90 days (3) 120 6.5 156 8.0 Total non-traditional loans in repayment 1,849 100 % 1,944 100 % Total non-traditional loans, gross 2,096 2,235 Non-traditional loans unamortized discount (58 ) (61 ) Total non-traditional loans 2,038 2,174 Non-traditional loans receivable for partially charged-off loans 306 321 Non-traditional loans allowance for losses (224 ) (235 ) Non-traditional loans, net $ 2,120 $ 2,260 Percentage of non-traditional loans in repayment 88.2 % 87.0 % Delinquencies as a percentage of non-traditional loans in repayment 12.5 % 15.3 % Loans in forbearance as a percentage of loans in repayment and forbearance 5.1 % 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 June 30, 2016 Private Education Loans — Traditional $ 9,351 $ 9,404 $ 964 Private Education Loans — Non-Traditional 1,409 1,415 199 Total $ 10,760 $ 10,819 $ 1,163 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 tables provide the average recorded investment and interest income recognized for our TDR loans. Three Months Ended June 30, 2016 2015 (Dollars in millions) Average Interest Average Interest Private Education Loans — Traditional $ 9,320 $ 138 $ 8,943 $ 135 Private Education Loans — Non-Traditional 1,418 27 1,466 29 Total $ 10,738 $ 165 $ 10,409 $ 164 Six Months Ended June 30, 2016 2015 (Dollars in millions) Average Interest Average Interest Private Education Loans — Traditional $ 9,271 $ 276 $ 8,900 $ 267 Private Education Loans — Non-Traditional 1,425 54 1,471 58 Total $ 10,696 $ 330 $ 10,371 $ 325
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 June 30, 2016 2015 (Dollars in millions) Modified (1) Charge- (2) Payment Modified (1) Charge- (2) Payment Private Education Loans — Traditional $ 286 $ 74 $ 56 $ 339 $ 101 $ 83 Private Education Loans — Non-Traditional 25 20 10 36 30 14 Total $ 311 $ 94 $ 66 $ 375 $ 131 $ 97 Six Months Ended June 30, 2016 2015 (Dollars in millions) Modified (1) Charge- (2) Payment Modified (1) Charge- (2) Payment Private Education Loans — Traditional $ 628 $ 154 $ 118 $ 768 $ 192 $ 183 Private Education Loans — Non-Traditional 52 42 21 79 58 32 Total $ 680 $ 196 $ 139 $ 847 $ 250 $ 215 (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.
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 June 30, 2016 December 31, 2015 (Dollars in millions) Balance % Balance % Loans in deferment (1) $ 609 $ 706 Loans in forbearance (2) 648 695 Loans in repayment and percentage of each status: Loans current 8,424 88.1 % 7,885 85.3 % Loans delinquent 31-60 days (3) 356 3.7 414 4.5 Loans delinquent 61-90 days (3) 228 2.4 263 2.8 Loans delinquent greater than 90 days (3) 554 5.8 679 7.4 Total TDR loans in repayment 9,562 100 % 9,241 100 % Total TDR loans, gross $ 10,819 $ 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.
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 June 30, 2016 December 31, 2015 (Dollars in millions) Balance (3) % of Balance Balance (3) % of Balance Credit Quality Indicators School Type/FICO Scores: Traditional $ 23,697 92 % $ 25,280 92 % Non-Traditional (1) 2,096 8 2,235 8 Total $ 25,793 100 % $ 27,515 100 % Cosigners: With cosigner $ 16,621 64 % $ 17,738 64 % Without cosigner 9,172 36 9,777 36 Total $ 25,793 100 % $ 27,515 100 % Seasoning (2) 1-12 payments $ 1,448 6 % $ 1,776 7 % 13-24 payments 1,596 6 1,977 7 25-36 payments 2,486 10 2,982 11 37-48 payments 3,431 13 3,787 14 More than 48 payments 15,196 59 14,953 54 Not yet in repayment 1,636 6 2,040 7 Total $ 25,793 100 % $ 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 Six Months Ended (Dollars in millions) 2016 2015 2016 2015 Receivable at beginning of period $ 867 $ 1,236 $ 881 $ 1,245 Expected future recoveries of current period defaults (1) 32 46 68 108 Recoveries (2) (52 ) (50 ) (102 ) (102 ) Net adjustment resulting from the change in the charge-off rate (3) — (330 ) — (330 ) Net charge-offs remaining — — — (19 ) Total net charge-offs — (330 ) — (349 ) Receivable at end of period $ 847 $ 902 $ 847 $ 902 (1) Represents the difference between the defaulted 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 total charge-offs as reported in the “Allowance for Private Education Loan Losses” table.
Accrued Interest Receivable	The following table provides information regarding accrued interest receivable on our Private Education Loans. (Dollars in millions) Accrued Allowance for June 30, 2016 Private Education Loans — Traditional $ 385 $ 25 Private Education Loans — Non-Traditional 49 8 Total $ 434 $ 33 December 31, 2015 Private Education Loans — Traditional $ 433 $ 26 Private Education Loans — Non-Traditional 57 9 Total $ 490 $ 35

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Company's Borrowings	The following table summarizes our borrowings. June 30, 2016 December 31, 2015 (Dollars in millions) Short Long Total Short Long Total Unsecured borrowings: Senior unsecured debt $ 1,077 $ 12,801 $ 13,878 $ 1,120 $ 13,976 $ 15,096 Total unsecured borrowings 1,077 12,801 13,878 1,120 13,976 15,096 Secured borrowings: FFELP Loan securitizations — 75,698 75,698 — 77,764 77,764 Private Education Loan securitizations (1) — 16,168 16,168 — 16,900 16,900 FFELP Loan — other facilities — 14,609 14,609 — 16,276 16,276 Private Education Loan — other facilities 361 — 361 710 — 710 Other (2) 955 — 955 760 — 760 Total secured borrowings 1,316 106,475 107,791 1,470 110,940 112,410 Total before hedge accounting adjustments 2,393 119,276 121,669 2,590 124,916 127,506 Hedge accounting adjustments (23 ) 361 338 (20 ) (83 ) (103 ) Total $ 2,370 $ 119,637 $ 122,007 $ 2,570 $ 124,833 $ 127,403 (1) Includes $1.0 billion and $546 million of long-term debt related to the Private Education Loan asset-backed securitization repurchase facility (“Repurchase Facility”) as of June 30, 2016 and December 31, 2015, respectively. (2) “Other” includes the obligation to return cash collateral held related to derivative exposures.
Financing VIEs	We consolidated the following financing VIEs as of June 30, 2016 and December 31, 2015, as we are the primary beneficiary. As a result, these VIEs are accounted for as secured borrowings. June 30, 2016 Debt Outstanding Carrying Amount of Assets Securing (Dollars in millions) Short Long Total Loans Cash Other Total Secured Borrowings — VIEs: FFELP Loan securitizations $ — $ 75,698 $ 75,698 $ 76,330 $ 2,649 $ 754 $ 79,733 Private Education Loan securitizations (1) — 16,168 16,168 21,213 477 284 21,974 FFELP Loan — other facilities — 11,009 11,009 11,283 285 171 11,739 Private Education Loan — other facilities 361 — 361 534 8 16 558 Total before hedge accounting adjustments 361 102,875 103,236 109,360 3,419 1,225 114,004 Hedge accounting adjustments — (772 ) (772 ) — — (793 ) (793 ) Total $ 361 $ 102,103 $ 102,464 $ 109,360 $ 3,419 $ 432 $ 113,211 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 $1.0 billion and $546 million of long-term debt related to the Repurchase Facility as of June 30, 2016 and December 31, 2015, respectively. Includes $69 million and $41 million of restricted cash related to the Repurchase Facility as of June 30, 2016 and December 31, 2015, respectively.

Derivative Financial Instrume23

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Dec. 31, June 30, Dec. 31, June 30, Dec. 31, June 30, Dec. 31, Fair Values (1) Derivative Assets: Interest rate swaps Interest rate $ — $ — $ 1,006 $ 694 $ 92 $ 32 $ 1,098 $ 726 Cross-currency interest rate swaps Foreign currency & interest rate — — 10 2 — — 10 2 Other (2) Interest rate — — — — 1 — 1 — Total derivative assets (3) — — 1,016 696 93 32 1,109 728 Derivative Liabilities: Interest rate swaps Interest rate (280 ) (89 ) — (3 ) (65 ) (68 ) (345 ) (160 ) Floor Income Contracts Interest rate — — — — (406 ) (365 ) (406 ) (365 ) Cross-currency interest rate swaps Foreign currency & interest rate — — (835 ) (926 ) (17 ) (62 ) (852 ) (988 ) Other (2) Interest rate — — — — (8 ) (2 ) (8 ) (2 ) Total derivative liabilities (3) (280 ) (89 ) (835 ) (929 ) (496 ) (497 ) (1,611 ) (1,515 ) Net total derivatives $ (280 ) $ (89 ) $ 181 $ (233 ) $ (403 ) $ (465 ) $ (502 ) $ (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	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) June 30, December 31, June 30, December 31, Gross position $ 1,109 $ 728 $ (1,611 ) $ (1,515 ) Impact of master netting agreements (26 ) (50 ) 26 50 Derivative values with impact of master netting agreements (as carried on balance sheet) 1,083 678 (1,585 ) (1,465 ) Cash collateral (held) pledged (451 ) (759 ) 511 466 Net position $ 632 $ (81 ) $ (1,074 ) $ (999 )
Derivative Notional Values	Cash Flow Fair Value Trading Total (Dollars in billions) Jun. 30, Dec. 31, Jun. 30, Dec. 31, Jun. 30, Dec. 31, Jun. 30, Dec. 31, Notional Values: Interest rate swaps $ 14.7 $ 9.5 $ 11.5 $ 12.6 $ 32.0 $ 33.8 $ 58.2 $ 55.9 Floor Income Contracts — — — — 16.5 35.1 16.5 35.1 Cross-currency interest rate swaps — — 8.8 9.1 .3 .3 9.1 9.4 Other (1) — — — — 3.0 3.2 3.0 3.2 Total derivatives $ 14.7 $ 9.5 $ 20.3 $ 21.7 $ 51.8 $ 72.4 $ 86.8 $ 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 June 30, 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 $ 71 $ (235 ) $ 68 $ 86 $ (68 ) $ 252 $ 71 $ 103 Cross-currency interest rate swaps (275 ) 302 (20 ) 3 252 (340 ) (43 ) (35 ) Total fair value derivatives (204 ) 67 48 89 184 (88 ) 28 68 Cash Flow Hedges: Interest rate swaps — — (11 ) — — — (11 ) — Total cash flow derivatives — — (11 ) — — — (11 ) — Trading: Interest rate swaps 11 (5 ) 11 9 — — 22 4 Floor Income Contracts 7 171 (56 ) (163 ) — — (49 ) 8 Cross-currency interest rate swaps 25 (5 ) (1 ) (1 ) — — 24 (6 ) Other (4 ) (2 ) (1 ) (1 ) — — (5 ) (3 ) Total trading derivatives 39 159 (47 ) (156 ) — — (8 ) 3 Total (165 ) 226 (10 ) (67 ) 184 (88 ) 9 71 Less: realized gains (losses) recorded in interest expense — — 37 89 — — 37 89 Gains (losses) on derivative and hedging activities, net $ (165 ) $ 226 $ (47 ) $ (156 ) $ 184 $ (88 ) $ (28 ) $ (18 ) (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.” Six Months Ended June 30, 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 $ 315 $ (115 ) $ 139 $ 182 $ (347 ) $ 123 $ 107 $ 190 Cross-currency interest rate swaps 99 (540 ) (36 ) 4 (54 ) 647 9 111 Total fair value derivatives 414 (655 ) 103 186 (401 ) 770 116 301 Cash Flow Hedges: Interest rate swaps — — (11 ) — — — (11 ) — Total cash flow derivatives — — (11 ) — — — (11 ) — Trading: Interest rate swaps 63 13 20 20 — — 83 33 Floor Income Contracts 34 243 (194 ) (325 ) — — (160 ) (82 ) Cross-currency interest rate swaps 45 (5 ) (2 ) (2 ) — — 43 (7 ) Other (5 ) (4 ) (1 ) (2 ) — — (6 ) (6 ) Total trading derivatives 137 247 (177 ) (309 ) — — (40 ) (62 ) Total 551 (408 ) (85 ) (123 ) (401 ) 770 65 239 Less: realized gains (losses) recorded in interest expense — — 92 186 — — 92 186 Gains (losses) on derivative and hedging activities, net $ 551 $ (408 ) $ (177 ) $ (309 ) $ (401 ) $ 770 $ (27 ) $ 53 (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) June 30, December 31, Collateral held: Cash (obligation to return cash collateral is recorded in short-term borrowings) (1) $ 451 $ 759 Securities at fair value — corporate derivatives (not recorded in the financial statements) (2) 503 — Securities at fair value — on-balance sheet securitization derivatives (not recorded in financial statements) (3) 391 301 Total collateral held $ 1,345 $ 1,060 Derivative asset at fair value including accrued interest $ 1,272 $ 896 Collateral pledged to others: Cash (right to receive return of cash collateral is recorded in investments) $ 511 $ 466 Total collateral pledged $ 511 $ 466 Derivative liability at fair value including accrued interest and premium receivable $ 1,610 $ 1,395 (1) At June 30, 2016 and December 31, 2015, $11 million and $2 million, respectively, were held in restricted cash accounts. (2) The Company has the ability to sell or re-pledge securities it holds as collateral. (3) The trusts do not have the ability to sell or re-pledge securities they hold as collateral.

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 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) June 30, December 31, Accrued interest receivable, net $ 1,596 $ 1,646 Derivatives at fair value 1,083 678 Income tax asset, net current and deferred 871 906 Benefit and insurance-related investments 483 491 Fixed assets, net 160 162 Accounts receivable 92 329 Other loans, net 65 70 Other 432 400 Total $ 4,782 $ 4,682

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Common Share Repurchases and Issuances	The following table summarizes common share repurchases and issuances. Three Months Ended Six Months Ended 2016 2015 2016 2015 Common shares repurchased (1) 13,579,381 15,190,685 32,789,662 29,844,520 Average purchase price per share $ 12.90 $ 19.76 $ 11.45 $ 20.12 Shares repurchased related to employee stock-based compensation plans (2) 368,439 431,168 1,354,712 2,075,932 Average purchase price per share $ 13.05 $ 19.83 $ 10.80 $ 20.65 Common shares issued (3) 467,007 633,170 2,966,592 4,218,408 (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)	6 Months Ended
	Jun. 30, 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 Six Months Ended (In millions, except per share data) 2016 2015 2016 2015 Numerator: Net income attributable to Navient Corporation $ 125 $ 182 $ 305 $ 474 Denominator: Weighted average shares used to compute basic EPS 322 381 331 389 Effect of dilutive securities: Dilutive effect of stock options, non-vested restricted stock, restricted stock units and Employee Stock Purchase Plans (“ESPPs”) (1) 6 6 4 7 Dilutive potential common shares (2) 6 6 4 7 Weighted average shares used to compute diluted EPS 328 387 335 396 Basic earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .39 $ .48 $ .92 $ 1.22 Discontinued operations — — — — Total $ .39 $ .48 $ .92 $ 1.22 Diluted earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .38 $ .47 $ .91 $ 1.20 Discontinued operations — — — — Total $ .38 $ .47 $ .91 $ 1.20 (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 June 30, 2016 and 2015, stock options covering approximately 5 million and 3 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive. For the six months ended June 30, 2016 and 2015, stock options covering approximately 5 million and 3 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)	6 Months Ended
	Jun. 30, 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 June 30, 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 — 3 — 3 — 4 — 4 Total available-for-sale investments — 4 — 4 — 5 — 5 Derivative instruments: (1) Interest rate swaps — 1,070 28 1,098 — 709 17 726 Cross-currency interest rate swaps — — 10 10 — — 2 2 Other — — 1 1 — — — — Total derivative assets (3) — 1,070 39 1,109 — 709 19 728 Total $ — $ 1,074 $ 39 $ 1,113 $ — $ 714 $ 19 $ 733 Liabilities (2) Derivative instruments (1) Interest rate swaps $ — $ (280 ) $ (65 ) $ (345 ) $ — $ (99 ) $ (61 ) $ (160 ) Floor Income Contracts — (406 ) — (406 ) — (365 ) — (365 ) Cross-currency interest rate swaps — (41 ) (811 ) (852 ) — (83 ) (905 ) (988 ) Other — — (8 ) (8 ) — — (2 ) (2 ) Total derivative liabilities (3) — (727 ) (884 ) (1,611 ) — (547 ) (968 ) (1,515 ) Total $ — $ (727 ) $ (884 ) $ (1,611 ) $ — $ (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 June 30, 2016 2015 Derivative instruments Derivative instruments (Dollars in millions) Interest Cross Other Total Interest Cross Other Total Balance, beginning of period $ (32 ) $ (528 ) $ (4 ) $ (564 ) $ (88 ) $ (958 ) $ (13 ) $ (1,059 ) Total gains/(losses) (realized and unrealized): Included in earnings (1) (5 ) (293 ) (4 ) (302 ) 5 306 (3 ) 308 Included in other comprehensive income — — — — — — — — Settlements — 20 1 21 1 (2 ) 1 — Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (37 ) $ (801 ) $ (7 ) $ (845 ) $ (82 ) $ (654 ) $ (15 ) $ (751 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ (4 ) $ (273 ) $ (4 ) $ (281 ) $ 6 $ 304 $ (2 ) $ 308 Six Months Ended June 30, 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) 6 65 (6 ) 65 6 (534 ) (6 ) (534 ) Included in other comprehensive income — — — — — — — — Settlements 1 37 1 39 — (3 ) 2 (1 ) Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (37 ) $ (801 ) $ (7 ) $ (845 ) $ (82 ) $ (654 ) $ (15 ) $ (751 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ 8 $ 102 $ (6 ) $ 104 $ 6 $ (534 ) $ (4 ) $ (532 ) (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 Six Months Ended (Dollars in millions) 2016 2015 2016 2015 Gains (losses) on derivative and hedging activities, net $ (282 ) $ 306 $ 102 $ (537 ) Interest expense (20 ) 2 (37 ) 3 Total $ (302 ) $ 308 $ 65 $ (534 ) (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 $ 10 Discounted cash flow Bid/ask adjustment to discount rate .02% — .05% (.05%) Prime/LIBOR basis swaps (47 ) Discounted cash flow Constant prepayment rate 4.9% Bid/ask adjustment to discount rate .03% — .05% (.05%) Cross-currency interest rate swaps (801 ) Discounted cash flow Constant prepayment rate 2.8% Other (7 ) Total $ (845 )
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. June 30, 2016 December 31, 2015 (Dollars in millions) Fair Carrying Difference Fair Carrying Difference Earning assets FFELP Loans $ 90,723 $ 92,618 $ (1,895 ) $ 94,377 $ 96,498 $ (2,121 ) Private Education Loans 24,126 24,741 (615 ) 25,772 26,394 (622 ) Cash and investments (1) 5,535 5,535 — 5,833 5,833 — Total earning assets 120,384 122,894 (2,510 ) 125,982 128,725 (2,743 ) Interest-bearing liabilities Short-term borrowings 2,376 2,370 (6 ) 2,569 2,570 1 Long-term borrowings 113,665 119,637 5,972 118,471 124,833 6,362 Total interest-bearing liabilities 116,041 122,007 5,966 121,040 127,403 6,363 Derivative financial instruments Floor Income Contracts (406 ) (406 ) — (365 ) (365 ) — Interest rate swaps 753 753 — 566 566 — Cross-currency interest rate swaps (842 ) (842 ) — (986 ) (986 ) — Other (7 ) (7 ) — (2 ) (2 ) — Excess of net asset fair value over carrying value $ 3,456 $ 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 June 30, 2016 and December 31, 2015, respectively, versus a fair value of $4 million and $5 million at June 30, 2016 and December 31, 2015, respectively.

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Results and Reconciliations to GAAP	Segment Results and Reconciliations to GAAP Three Months Ended June 30, 2016 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 588 $ 402 $ — $ — $ — $ 990 $ 56 $ (26 ) $ 30 $ 1,020 Other loans — — — 2 — 2 — — — 2 Cash and investments 5 — — 1 — 6 — — — 6 Total interest income 593 402 — 3 — 998 56 (26 ) 30 1,028 Total interest expense 388 173 — 29 — 590 9 — 9 599 Net interest income (loss) 205 229 — (26 ) — 408 47 (26 ) 21 429 Less: provisions for loan losses 10 100 — — — 110 — — — 110 Net interest income (loss) after provisions for loan losses 195 129 — (26 ) — 298 47 (26 ) 21 319 Other income (loss): Servicing revenue 14 3 153 — (99 ) 71 — — — 71 Asset recovery and business processing revenue — — 101 — — 101 — — — 101 Other income (loss) — — — 4 — 4 (47 ) (6 ) (53 ) (49 ) Gains on sales of loans and investments — — — — — — — — — — Gains on debt repurchases — — — — — — — — — — Total other income (loss) 14 3 254 4 (99 ) 176 (47 ) (6 ) (53 ) 123 Expenses: Direct operating expenses 101 41 125 7 (99 ) 175 — — — 175 Overhead expenses — — — 55 — 55 — — — 55 Operating expenses 101 41 125 62 (99 ) 230 — — — 230 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 6 6 6 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 101 41 125 62 (99 ) 230 — 6 6 236 Income (loss) from continuing operations, before income tax expense (benefit) 108 91 129 (84 ) — 244 — (38 ) (38 ) 206 Income tax expense (benefit) (3) 40 34 48 (32 ) — 90 — (9 ) (9 ) 81 Net income (loss) from continuing operations 68 57 81 (52 ) — 154 — (29 ) (29 ) 125 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 68 $ 57 $ 81 $ (52 ) $ — $ 154 $ — $ (29 ) $ (29 ) $ 125 (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 June 30, 2016 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 21 $ — $ 21 Total other income (loss) — (53 ) — (53 ) Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 6 6 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ (32 ) $ (6 ) (38 ) Income tax expense (benefit) (9 ) Net income (loss) $ (29 ) (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Three Months Ended June 30, 2015 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 522 $ 434 $ — $ — $ — $ 956 $ 163 $ (59 ) $ 104 $ 1,060 Other loans — — — 2 — 2 — — — 2 Cash and investments 1 — — 1 — 2 — — — 2 Total interest income 523 434 — 3 — 960 163 (59 ) 104 1,064 Total interest expense 309 171 — 28 — 508 7 — 7 515 Net interest income (loss) 214 263 — (25 ) — 452 156 (59 ) 97 549 Less: provisions for loan losses 7 191 — — — 198 — — — 198 Net interest income (loss) after provisions for loan losses 207 72 — (25 ) — 254 156 (59 ) 97 351 Other income (loss): Servicing revenue 45 6 163 — (108 ) 106 — — — 106 Asset recovery and business processing revenue — — 99 — — 99 — — — 99 Other income (loss) — — — 3 — 3 (156 ) 142 (14 ) (11 ) Gains on sales of loans and investments 7 — — — — 7 — — — 7 Gains on debt repurchases — — — — — — — — — — Total other income (loss) 52 6 262 3 (108 ) 215 (156 ) 142 (14 ) 201 Expenses: Direct operating expenses 112 43 117 6 (108 ) 170 — — — 170 Overhead expenses — — — 55 — 55 — — — 55 Operating expenses 112 43 117 61 (108 ) 225 — — — 225 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 3 3 3 Restructuring and other reorganization expenses — — — — — — — 29 29 29 Total expenses 112 43 117 61 (108 ) 225 — 32 32 257 Income (loss) from continuing operations, before income tax expense (benefit) 147 35 145 (83 ) — 244 — 51 51 295 Income tax expense (benefit) (3) 54 13 54 (31 ) — 90 — 23 23 113 Net income (loss) from continuing operations $ 93 $ 22 $ 91 $ (52 ) $ — $ 154 $ — $ 28 $ 28 $ 182 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 93 $ 22 $ 91 $ (52 ) $ — $ 154 $ — $ 28 $ 28 $ 182 (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 June 30, 2015 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 97 $ — $ 97 Total other income (loss) — (14 ) — (14 ) Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 3 3 Restructuring and other reorganization expenses 29 — — 29 Total “Core Earnings” adjustments to GAAP $ (29 ) $ 83 $ (3 ) 51 Income tax expense (benefit) 23 Net income (loss) $ 28 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Six Months Ended June 30, 2016 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 1,143 $ 813 $ — $ — $ — $ 1,956 $ 195 $ (86 ) $ 109 $ 2,065 Other loans — — — 3 — 3 — — — 3 Cash and investments 8 1 — 3 — 12 — — — 12 Total interest income 1,151 814 — 6 — 1,971 195 (86 ) 109 2,080 Total interest expense 746 345 — 56 — 1,147 18 — 18 1,165 Net interest income (loss) 405 469 — (50 ) — 824 177 (86 ) 91 915 Less: provisions for loan losses 17 204 — — — 221 — — — 221 Net interest income (loss) after provisions for loan losses 388 265 — (50 ) — 603 177 (86 ) 91 694 Other income (loss): Servicing revenue 31 8 315 — (200 ) 154 — — — 154 Asset recovery and business processing revenue — — 191 — — 191 — — — 191 Other income (loss) — — — 7 — 7 (177 ) 108 (69 ) (62 ) Gains on sales of loans and investments — — — — — — — — — — Gains on debt repurchases — — — — — — — — — — Total other income (loss) 31 8 506 7 (200 ) 352 (177 ) 108 (69 ) 283 Expenses: Direct operating expenses 206 84 258 14 (200 ) 362 — — — 362 Overhead expenses — — — 116 — 116 — — — 116 Operating expenses 206 84 258 130 (200 ) 478 — — — 478 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 10 10 10 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 206 84 258 130 (200 ) 478 — 10 10 488 Income (loss) from continuing operations, before income tax expense (benefit) 213 189 248 (173 ) — 477 — 12 12 489 Income tax expense (benefit) (3) 79 70 91 (64 ) — 176 — 8 8 184 Net income (loss) from continuing operations 134 119 157 (109 ) — 301 — 4 4 305 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 134 $ 119 $ 157 $ (109 ) $ — $ 301 $ — $ 4 $ 4 $ 305 (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: Six Months Ended June 30, 2016 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 91 $ — $ 91 Total other income (loss) — (69 ) — (69 ) Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 10 10 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ 22 $ (10 ) 12 Income tax expense (benefit) 8 Net income (loss) $ 4 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Six Months Ended June 30, 2015 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 1,055 $ 891 $ — $ — $ — $ 1,946 $ 325 $ (118 ) $ 207 $ 2,153 Other loans — — — 4 — 4 — — — 4 Cash and investments 3 — — 1 — 4 — — — 4 Total interest income 1,058 891 — 5 — 1,954 325 (118 ) 207 2,161 Total interest expense 611 345 — 57 — 1,013 16 — 16 1,029 Net interest income (loss) 447 546 — (52 ) — 941 309 (118 ) 191 1,132 Less: provisions for loan losses 12 311 — — — 323 — — — 323 Net interest income (loss) after provisions for loan losses 435 235 — (52 ) — 618 309 (118 ) 191 809 Other income (loss): Servicing revenue 63 12 326 — (219 ) 182 — — — 182 Asset recovery and business processing revenue — — 188 — — 188 — — — 188 Other income (loss) — — 2 8 — 10 (309 ) 367 58 68 Gains on sales of loans and investments 12 — — — — 12 — — — 12 Gains on debt repurchases — — — — — — — — — — Total other income (loss) 75 12 516 8 (219 ) 392 (309 ) 367 58 450 Expenses: Direct operating expenses 227 89 233 8 (219 ) 338 — — — 338 Overhead expenses — — — 118 — 118 — — — 118 Operating expenses 227 89 233 126 (219 ) 456 — — — 456 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 4 4 4 Restructuring and other reorganization expenses — — — — — — — 32 32 32 Total expenses 227 89 233 126 (219 ) 456 — 36 36 492 Income (loss) from continuing operations, before income tax expense (benefit) 283 158 283 (170 ) — 554 — 213 213 767 Income tax expense (benefit) (3) 106 58 106 (64 ) — 206 — 87 87 293 Net income (loss) from continuing operations $ 177 $ 100 $ 177 $ (106 ) $ — $ 348 $ — $ 126 $ 126 $ 474 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 177 $ 100 $ 177 $ (106 ) $ — $ 348 $ — $ 126 $ 126 $ 474 (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: Six Months Ended June 30, 2015 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 191 $ — $ 191 Total other income (loss) — 58 — 58 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 4 4 Restructuring and other reorganization expenses 32 — — 32 Total “Core Earnings” adjustments to GAAP $ (32 ) $ 249 $ (4 ) 213 Income tax expense (benefit) 87 Net income (loss) $ 126 (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 Six Months Ended (Dollars in millions) 2016 2015 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) $ — $ (29 ) $ — $ (32 ) Net impact of derivative accounting (2) (32 ) 83 22 249 Net impact of goodwill and acquired intangibles assets (3) (6 ) (3 ) (10 ) (4 ) Net tax effect (4) 9 (23 ) (8 ) (87 ) Total “Core Earnings” adjustments to GAAP $ (29 ) $ 28 $ 4 $ 126 (1) SLM BankCo’s operations and restructuring and other 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) June 30, December 31, FFELP Loans, net $ 92,618 $ 96,498 Cash and investments (1) 3,263 3,572 Other 1,983 2,015 Total assets $ 97,864 $ 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) June 30, December 31, Private Education Loans, net $ 24,741 $ 26,394 Cash and investments (1) 787 596 Other 2,140 1,988 Total assets $ 27,668 $ 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		6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)	Mar. 31, 2015	Jun. 30, 2016USD ($)PointLoans	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Financing Receivable, Allowance for Credit Losses [Line Items]
Maximum original FICO score at for-profit schools to become eligible for non-traditional loans | Point			670
Maximum original FICO score at not-for-profit schools to become eligible for non-traditional loans | Point			640
Net adjustment resulting from the change in the charge-off rate	$ 330			$ 330
Percentage of loans granted forbearance that migrated to TDR classification			58.00%		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			$ 2,800		$ 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			$ 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		6 Months Ended
	Jun. 30, 2016USD ($)SecurityLoan	Jun. 30, 2015USD ($)SecurityLoan	Jun. 30, 2016USD ($)SecurityLoan	Jun. 30, 2015USD ($)SecurityLoan
Allowance for Loan Losses
Beginning balance	$ 1,519	$ 1,963	$ 1,564	$ 2,033
Total provision	110	198	221	323
Net adjustment resulting from the change in the charge-off rate		(330)		(330)
Net charge-offs remaining		(190)		(388)
Charge-offs	(145)	(520)	(304)	(718)
Reclassification of interest reserve	3	2	6	5
Ending balance	1,487	1,643	1,487	1,643
Allowance:
Ending balance: individually evaluated for impairment	1,174	1,274	1,174	1,274
Ending balance: collectively evaluated for impairment	313	369	313	369
Loans:
Ending balance: individually evaluated for impairment	11,195	10,810	11,195	10,810
Ending balance: collectively evaluated for impairment	107,244	118,697	107,244	118,697
FFELP Loans [Member]
Allowance for Loan Losses
Beginning balance	70	91	78	93
Total provision	10	7	17	12
Net charge-offs remaining		(9)		(16)
Charge-offs	(18)	(9)	(33)	(16)
Ending balance	62	89	62	89
Allowance:
Ending balance: collectively evaluated for impairment	62	89	62	89
Loans:
Ending balance: collectively evaluated for impairment	$ 91,719	$ 99,207	$ 91,719	$ 99,207
Net charge-offs as a percentage of average loans in repayment, excluding the net adjustment resulting from the change in the charge-off rate (annualized)		0.05%		0.04%
Charge-offs as a percentage of average loans in repayment (annualized)	0.10%		0.09%
Allowance coverage of charge-offs (annualized) | SecurityLoan	0.9		1
Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) | SecurityLoan		2.3		2.8
Allowance as a percentage of the ending total loan balance	0.07%	0.09%	0.07%	0.09%
Allowance as a percentage of the ending loans in repayment	0.09%	0.12%	0.09%	0.12%
Ending total loans	$ 91,719	$ 99,207	$ 91,719	$ 99,207
Average loans in repayment	72,973	76,325	73,331	76,896
Ending loans in repayment	72,058	75,244	72,058	75,244
Private Education Loans [Member]
Allowance for Loan Losses
Beginning balance	1,434	1,849	1,471	1,916
Total provision	100	191	204	311
Net adjustment resulting from the change in the charge-off rate		(330)		(330)
Net charge-offs remaining		(179)		(369)
Charge-offs	(127)	(509)	(271)	(699)
Reclassification of interest reserve	3	2	6	5
Ending balance	1,410	1,533	1,410	1,533
Allowance:
Ending balance: individually evaluated for impairment	1,163	1,257	1,163	1,257
Ending balance: collectively evaluated for impairment	247	276	247	276
Loans:
Ending balance: individually evaluated for impairment	11,162	10,769	11,162	10,769
Ending balance: collectively evaluated for impairment	$ 15,478	$ 19,435	$ 15,478	$ 19,435
Net charge-offs as a percentage of average loans in repayment, excluding the net adjustment resulting from the change in the charge-off rate (annualized)		2.74%		2.82%
Charge-offs as a percentage of average loans in repayment (annualized)	2.17%		2.28%
Net adjustment resulting from the change in the charge-off rate as a percentage of average loans in repayment (annualized)		5.07%		2.53%
Allowance coverage of charge-offs (annualized) | SecurityLoan	2.8		2.6
Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) | SecurityLoan		2.1		2.1
Allowance as a percentage of the ending total loan balance	5.29%	5.08%	5.29%	5.08%
Allowance as a percentage of the ending loans in repayment	6.06%	5.93%	6.06%	5.93%
Ending total loans	$ 26,640	$ 30,204	$ 26,640	$ 30,204
Average loans in repayment	23,561	26,122	23,871	26,382
Ending loans in repayment	23,265	25,865	23,265	25,865
Other Loans [Member]
Allowance for Loan Losses
Beginning balance	15	23	15	24
Net charge-offs remaining		(2)		(3)
Charge-offs		(2)		(3)
Ending balance	15	21	15	21
Allowance:
Ending balance: individually evaluated for impairment	11	17	11	17
Ending balance: collectively evaluated for impairment	4	4	4	4
Loans:
Ending balance: individually evaluated for impairment	33	41	33	41
Ending balance: collectively evaluated for impairment	$ 47	$ 55	$ 47	$ 55
Net charge-offs as a percentage of average loans in repayment, excluding the net adjustment resulting from the change in the charge-off rate (annualized)		8.68%		6.01%
Charge-offs as a percentage of average loans in repayment (annualized)	1.32%		1.69%
Allowance coverage of charge-offs (annualized) | SecurityLoan	13.5		10.4
Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) | SecurityLoan		2.4		3.3
Allowance as a percentage of the ending total loan balance	18.18%	21.50%	18.18%	21.50%
Allowance as a percentage of the ending loans in repayment	18.18%	21.50%	18.18%	21.50%
Ending total loans	$ 80	$ 96	$ 80	$ 96
Average loans in repayment	82	101	83	103
Ending loans in repayment	$ 80	$ 96	$ 80	$ 96

Allowance for Loan Losses - A31

Allowance for Loan Losses - Allowance for Credit Losses and Recorded Investments in Loans (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net adjustment resulting from the change in the charge-off rate	$ 330		$ 330
Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Portion of loan amount charged off at default	79.00%	73.00%
Net adjustment resulting from the change in the charge-off rate	$ 330		$ 330

Allowance for Loan Losses - Pri

Allowance for Loan Losses - Private Education Loan Portfolio Stratified by Key Credit Quality Indicators (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 25,793	$ 27,515
Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Private Education Loans with cosigner	16,621	17,738
Private Education Loans without cosigner	$ 9,172	$ 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	$ 25,793	$ 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	23,697	25,280
School type FICO scores non-traditional recorded investment	$ 2,096	$ 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	$ 25,793	$ 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	1,448	1,776
Seasoning - based on monthly scheduled payments due from 13-24 payments	1,596	1,977
Seasoning - based on monthly scheduled payments due from 25-36 payments	2,486	2,982
Seasoning - based on monthly scheduled payments due from 37-48 payments	3,431	3,787
Seasoning - based on monthly scheduled payments due from more than 48 payments	15,196	14,953
Seasoning - based on monthly scheduled payments due from not yet in repayment	$ 1,636	$ 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	59.00%	54.00%
Seasoning - based on monthly scheduled payments due from not yet in repayment, in percent	6.00%	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	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Loans in repayment and percentage of each status:
Loans allowance for losses	$ (1,487)	$ (1,564)	$ (1,519)	$ (1,643)	$ (1,963)	$ (2,033)
FFELP Loans [Member]
Loans in repayment and percentage of each status:
Total loans in repayment	72,058			75,244
Loans allowance for losses	(62)	(78)	$ (70)	$ (89)	$ (91)	$ (93)
Loans, net	92,618	96,498
Credit Concentration Risk [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in-school/grace/deferment	1,489	1,859
Loans in forbearance	792	863
Loans in repayment and percentage of each status:
Loans current	20,225	21,085
Total loans in repayment	21,416	22,558
Total loans, gross	23,697	25,280
Loans unamortized premium (discount)	(431)	(470)
Total loans	23,266	24,810
Loans receivable for partially charged-off loans	541	560
Loans allowance for losses	(1,186)	(1,236)
Loans, net	22,621	24,134
Credit Concentration Risk [Member] | Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in-school/grace/deferment	147	181
Loans in forbearance	100	110
Loans in repayment and percentage of each status:
Total loans in repayment	1,849	1,944
Total loans, gross	2,096	2,235
Loans unamortized premium (discount)	(58)	(61)
Total loans	2,038	2,174
Loans receivable for partially charged-off loans	306	321
Loans allowance for losses	(224)	(235)
Loans, net	2,120	2,260
Credit Concentration Risk [Member] | Troubled Debt Restructuring Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in-school/grace/deferment	609	706
Loans in forbearance	648	695
Loans in repayment and percentage of each status:
Total loans in repayment	9,562	9,241
Total loans, gross	10,819	10,642
Credit Concentration Risk [Member] | Financing Receivables, Current [Member] | Private Education Loans - Non-Traditional [Member]
Loans in repayment and percentage of each status:
Loans current	1,618	1,646
Credit Concentration Risk [Member] | Financing Receivables, Current [Member] | Troubled Debt Restructuring Loans [Member]
Loans in repayment and percentage of each status:
Loans current	8,424	7,885
Credit Concentration Risk [Member] | Financing Receivables, 31 to 60 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Loans in repayment and percentage of each status:
Loans delinquent	401	491
Credit Concentration Risk [Member] | 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	66	86
Credit Concentration Risk [Member] | Financing Receivables, 31 to 60 Days Past Due [Member] | Troubled Debt Restructuring Loans [Member]
Loans in repayment and percentage of each status:
Loans delinquent	356	414
Credit Concentration Risk [Member] | Financing Receivables, 61 to 90 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Loans in repayment and percentage of each status:
Loans delinquent	242	292
Credit Concentration Risk [Member] | 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
Credit Concentration Risk [Member] | 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
Credit Concentration Risk [Member] | Financing Receivables, 90 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Loans in repayment and percentage of each status:
Loans delinquent	548	690
Credit Concentration Risk [Member] | Financing Receivables, 90 Days Past Due [Member] | Private Education Loans - Non-Traditional [Member]
Loans in repayment and percentage of each status:
Loans delinquent	120	156
Credit Concentration Risk [Member] | Financing Receivables, 90 Days Past Due [Member] | Troubled Debt Restructuring Loans [Member]
Loans in repayment and percentage of each status:
Loans delinquent	554	679
Credit Concentration Risk [Member] | FFELP Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in-school/grace/deferment	7,149	8,257
Loans in forbearance	12,512	13,298
Loans in repayment and percentage of each status:
Loans current	62,581	62,651
Total loans in repayment	72,058	73,934
Total loans, gross	91,719	95,489
Loans unamortized premium (discount)	961	1,087
Total loans	92,680	96,576
Loans allowance for losses	(62)	(78)
Loans, net	92,618	96,498
Credit Concentration Risk [Member] | FFELP Loans [Member] | Financing Receivables, 31 to 60 Days Past Due [Member]
Loans in repayment and percentage of each status:
Loans delinquent	2,668	3,285
Credit Concentration Risk [Member] | FFELP Loans [Member] | Financing Receivables, 61 to 90 Days Past Due [Member]
Loans in repayment and percentage of each status:
Loans delinquent	1,605	1,856
Credit Concentration Risk [Member] | FFELP Loans [Member] | Financing Receivables, 90 Days Past Due [Member]
Loans in repayment and percentage of each status:
Loans delinquent	$ 5,204	$ 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	87.50%	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	88.10%	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	1.90%	2.20%
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	3.60%	4.40%
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	3.70%	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] | 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, 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	2.60%	3.00%
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	6.50%	8.00%
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	5.80%	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	90.40%	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	88.20%	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	12.50%	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	5.10%	5.40%
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	86.80%	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	3.70%	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	7.20%	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	78.60%	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	13.20%	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	14.80%	15.20%

Allowance for Loan Losses - Rec

Allowance for Loan Losses - Receivable for Partially Charged-Off Loans (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Net adjustment resulting from the change in the charge-off rate		$ (330)		$ (330)
Private Education Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Receivable at beginning of period	$ 867	1,236	$ 881	1,245
Expected future recoveries of current period defaults	32	46	68	108
Recoveries	(52)	(50)	(102)	(102)
Net adjustment resulting from the change in the charge-off rate		(330)		(330)
Net charge-offs remaining				(19)
Total net charge-offs		(330)		(349)
Receivable at end of period	$ 847	$ 902	$ 847	$ 902

Allowance for Loan Losses - R35

Allowance for Loan Losses - Receivable for Partially Charged-Off Loans (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Net adjustment resulting from the change in the charge-off rate	$ 330		$ 330
Private Education Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Portion of loan amount charged off at default	79.00%	73.00%
Net adjustment resulting from the change in the charge-off rate	$ 330		$ 330

Allowance for Loan Losses - R36

Allowance for Loan Losses - Recorded Investment, Unpaid Principal Balance and Related Allowance for TDR Loans (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR Loans, Recorded Investment	$ 10,760	$ 10,575
TDR loans, Unpaid Principal Balance	10,819	10,642
TDR Loans, Related Allowance	1,163	1,209
Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR Loans, Recorded Investment	9,351	9,134
TDR loans, Unpaid Principal Balance	9,404	9,200
TDR Loans, Related Allowance	964	995
Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR Loans, Recorded Investment	1,409	1,441
TDR loans, Unpaid Principal Balance	1,415	1,442
TDR Loans, Related Allowance	$ 199	$ 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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Average Recorded Investment	$ 10,738	$ 10,409	$ 10,696	$ 10,371
Impaired financing receivable, Interest Income Recognized	165	164	330	325
Private Education Loans - Traditional [Member]
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Average Recorded Investment	9,320	8,943	9,271	8,900
Impaired financing receivable, Interest Income Recognized	138	135	276	267
Private Education Loans - Non-Traditional [Member]
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Average Recorded Investment	1,418	1,466	1,425	1,471
Impaired financing receivable, Interest Income Recognized	$ 27	$ 29	$ 54	$ 58

Allowance for Loan Losses - Loa

Allowance for Loan Losses - Loans Modified Accounts for TDR (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Financing Receivable, Modifications [Line Items]
Modified Loans	$ 311	$ 375	$ 680	$ 847
Charge-Offs	94	131	196	250
Payment-Default	66	97	139	215
Private Education Loans - Traditional [Member]
Financing Receivable, Modifications [Line Items]
Modified Loans	286	339	628	768
Charge-Offs	74	101	154	192
Payment-Default	56	83	118	183
Private Education Loans - Non-Traditional [Member]
Financing Receivable, Modifications [Line Items]
Modified Loans	25	36	52	79
Charge-Offs	20	30	42	58
Payment-Default	$ 10	$ 14	$ 21	$ 32

Allowance for Loan Losses - Acc

Allowance for Loan Losses - Accrued Interest Receivable (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	$ 385	$ 433
Allowance for Uncollectible Interest	25	26
Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	49	57
Allowance for Uncollectible Interest	8	9
Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	434	490
Allowance for Uncollectible Interest	$ 33	$ 35

Borrowings - Company's Borrowin

Borrowings - Company's Borrowings (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Short-term borrowings	$ 2,370	$ 2,570
Long-term borrowings	119,637	124,833
Total	122,007	127,403
Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Short-term borrowings	2,393	2,590
Long-term borrowings	119,276	124,916
Total	121,669	127,506
Total Before Hedge Accounting Adjustments [Member] | Senior Unsecured Debt [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,077	1,120
Long-term borrowings	12,801	13,976
Total	13,878	15,096
Total Before Hedge Accounting Adjustments [Member] | Total Unsecured Borrowings [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,077	1,120
Long-term borrowings	12,801	13,976
Total	13,878	15,096
Total Before Hedge Accounting Adjustments [Member] | FFELP Loan Securitizations [Member]
Debt Instrument [Line Items]
Long-term borrowings	75,698	77,764
Total	75,698	77,764
Total Before Hedge Accounting Adjustments [Member] | Private Education Loan Securitizations [Member]
Debt Instrument [Line Items]
Long-term borrowings	16,168	16,900
Total	16,168	16,900
Total Before Hedge Accounting Adjustments [Member] | FFELP Loan - Other Facilities [Member]
Debt Instrument [Line Items]
Long-term borrowings	14,609	16,276
Total	14,609	16,276
Total Before Hedge Accounting Adjustments [Member] | Private Education Loan - Other Facilities [Member]
Debt Instrument [Line Items]
Short-term borrowings	361	710
Total	361	710
Total Before Hedge Accounting Adjustments [Member] | Other [Member]
Debt Instrument [Line Items]
Short-term borrowings	955	760
Total	955	760
Total Before Hedge Accounting Adjustments [Member] | Secured Borrowings [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,316	1,470
Long-term borrowings	106,475	110,940
Total	107,791	112,410
Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Short-term borrowings	(23)	(20)
Long-term borrowings	361	(83)
Total	$ 338	$ (103)

Borrowings - Company's Borrow41

Borrowings - Company's Borrowings (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt	$ 119,637	$ 124,833
Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Long-term debt	119,276	124,916
Private Education Loan Securitizations Repurchase Facility [Member] | Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Long-term debt	$ 1,000	$ 546

Borrowings - Financing VIEs (De

Borrowings - Financing VIEs (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Securities Financing Transaction [Line Items]
Short-term borrowings	$ 2,370	$ 2,570
Long-term borrowings	119,637	124,833
Total Debt Outstanding	122,007	127,403
Other assets	4,782	4,682
Total Before Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	2,393	2,590
Long-term borrowings	119,276	124,916
Total Debt Outstanding	121,669	127,506
Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	(23)	(20)
Long-term borrowings	361	(83)
Total Debt Outstanding	338	(103)
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	361	710
Long-term borrowings	102,103	106,510
Total Debt Outstanding	102,464	107,220
Loans	109,360	114,640
Cash	3,419	3,553
Other assets	432	293
Total Carrying Amount of Assets Securing Debt Outstanding	113,211	118,486
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loan Securitizations [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	75,698	77,764
Total Debt Outstanding	75,698	77,764
Loans	76,330	78,358
Cash	2,649	2,760
Other assets	754	682
Total Carrying Amount of Assets Securing Debt Outstanding	79,733	81,800
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Private Education Loan Securitizations [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	16,168	16,900
Total Debt Outstanding	16,168	16,900
Loans	21,213	22,014
Cash	477	452
Other assets	284	323
Total Carrying Amount of Assets Securing Debt Outstanding	21,974	22,789
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loan - Other Facilities [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	11,009	12,676
Total Debt Outstanding	11,009	12,676
Loans	11,283	13,158
Cash	285	324
Other assets	171	168
Total Carrying Amount of Assets Securing Debt Outstanding	11,739	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	361	710
Total Debt Outstanding	361	710
Loans	534	1,110
Cash	8	17
Other assets	16	31
Total Carrying Amount of Assets Securing Debt Outstanding	558	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	361	710
Long-term borrowings	102,875	107,340
Total Debt Outstanding	103,236	108,050
Loans	109,360	114,640
Cash	3,419	3,553
Other assets	1,225	1,204
Total Carrying Amount of Assets Securing Debt Outstanding	114,004	119,397
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	(772)	(830)
Total Debt Outstanding	(772)	(830)
Other assets	(793)	(911)
Total Carrying Amount of Assets Securing Debt Outstanding	$ (793)	$ (911)

Borrowings - Financing VIEs (Pa

Borrowings - Financing VIEs (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Securities Financing Transaction [Line Items]
Long-term debt	$ 119,637	$ 124,833
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Securities Financing Transaction [Line Items]
Long-term debt	102,103	106,510
Restricted cash	3,419	3,553
Private Education Loan Securitizations [Member] | Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Securities Financing Transaction [Line Items]
Long-term debt	1,000	546
Restricted cash	$ 69	$ 41

Derivative Financial Instrume44

Derivative Financial Instruments - Impact of Derivatives on Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Derivative Assets:
Derivative assets	$ 1,109	$ 728
Derivative Liabilities:
Derivative liabilities	(1,611)	(1,515)
Net total derivatives	(502)	(787)
Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	1,098	726
Derivative Liabilities:
Derivative liabilities	(345)	(160)
Cross-Currency Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	10	2
Derivative Liabilities:
Derivative liabilities	(852)	(988)
Other [Member]
Derivative Assets:
Derivative assets	1
Derivative Liabilities:
Derivative liabilities	(8)	(2)
Floor Income Contracts [Member]
Derivative Liabilities:
Derivative liabilities	(406)	(365)
Designated as Hedging Instrument [Member] | Cash Flow [Member]
Derivative Liabilities:
Derivative liabilities	(280)	(89)
Net total derivatives	(280)	(89)
Designated as Hedging Instrument [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	1,016	696
Derivative Liabilities:
Derivative liabilities	(835)	(929)
Net total derivatives	181	(233)
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Cash Flow [Member]
Derivative Liabilities:
Derivative liabilities	(280)	(89)
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	1,006	694
Derivative Liabilities:
Derivative liabilities		(3)
Designated as Hedging Instrument [Member] | Cross-Currency Interest Rate Swaps [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	10	2
Derivative Liabilities:
Derivative liabilities	(835)	(926)
Trading [Member]
Derivative Assets:
Derivative assets	93	32
Derivative Liabilities:
Derivative liabilities	(496)	(497)
Net total derivatives	(403)	(465)
Trading [Member] | Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	92	32
Derivative Liabilities:
Derivative liabilities	(65)	(68)
Trading [Member] | Cross-Currency Interest Rate Swaps [Member]
Derivative Liabilities:
Derivative liabilities	(17)	(62)
Trading [Member] | Other [Member]
Derivative Assets:
Derivative assets	1
Derivative Liabilities:
Derivative liabilities	(8)	(2)
Trading [Member] | Floor Income Contracts [Member]
Derivative Liabilities:
Derivative liabilities	$ (406)	$ (365)

Derivative Financial Instrume45

Derivative Financial Instruments - Gross Positions without Impact of Master Netting Agreements (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Gross position, Assets	$ 1,109	$ 728
Cash collateral (held) pledged, Assets	(451)	(759)
Gross position, Liabilities	(1,611)	(1,515)
Cash collateral (held) pledged, Liabilities	511	466
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross position, Liabilities	(1,611)	(1,515)
Impact of master netting agreements, Liabilities	26	50
Derivative values with impact of master netting agreements (as carried on balance sheet), Liabilities	(1,585)	(1,465)
Cash collateral (held) pledged, Liabilities	511	466
Net position, Liabilities	(1,074)	(999)
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Gross position, Assets	1,109	728
Impact of master netting agreements, Assets	(26)	(50)
Derivative values with impact of master netting agreements (as carried on balance sheet), Assets	1,083	678
Cash collateral (held) pledged, Assets	(451)	(759)
Net position, Assets	$ 632	$ (81)

Derivative Financial Instrume46

Derivative Financial Instruments - Additional Information (Detail) $ in Millions	Jun. 30, 2016USD ($)Counterparty	Dec. 31, 2015USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Decrease in valuation due to net credit risk adjustments	$ 1	$ 1
Decrease in valuation due to liquidity adjustments	29	$ 31
Derivative liability position including accrued interest, net of premium receivable with counterparty	$ 781
Number of counterparties with right to terminate | Counterparty	2

Derivative Financial Instrume47

Derivative Financial Instruments - Derivative Notional Values (Detail) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Total Derivative Notional Values	$ 86,800,000,000	$ 103,600,000,000
Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	58,200,000,000	55,900,000,000
Floor Income Contracts [Member]
Derivative [Line Items]
Total Derivative Notional Values	16,500,000,000	35,100,000,000
Cross-Currency Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	9,100,000,000	9,400,000,000
Other [Member]
Derivative [Line Items]
Total Derivative Notional Values	3,000,000,000	3,200,000,000
Designated as Hedging Instrument [Member] | Cash Flow [Member]
Derivative [Line Items]
Total Derivative Notional Values	14,700,000,000	9,500,000,000
Designated as Hedging Instrument [Member] | Fair Value [Member]
Derivative [Line Items]
Total Derivative Notional Values	20,300,000,000	21,700,000,000
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Cash Flow [Member]
Derivative [Line Items]
Total Derivative Notional Values	14,700,000,000	9,500,000,000
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Fair Value [Member]
Derivative [Line Items]
Total Derivative Notional Values	11,500,000,000	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	8,800,000,000	9,100,000,000
Trading [Member]
Derivative [Line Items]
Total Derivative Notional Values	51,800,000,000	72,400,000,000
Trading [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	32,000,000,000	33,800,000,000
Trading [Member] | Floor Income Contracts [Member]
Derivative [Line Items]
Total Derivative Notional Values	16,500,000,000	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	$ 3,000,000,000	$ 3,200,000,000

Derivative Financial Instrume48

Derivative Financial Instruments - Impact of Derivatives on Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	$ (165)	$ 226	$ 551	$ (408)
Realized Gain (Loss) on Derivatives	(10)	(67)	(85)	(123)
Unrealized Gain (Loss) on Hedged Item	184	(88)	(401)	770
Unrealized Gain (Loss) on Derivatives, Net	(165)	226	551	(408)
Total Gain (Loss) on Derivatives, Gross	9	71	65	239
Realized Gain (Loss) on Derivatives, Net	(47)	(156)	(177)	(309)
Unrealized Gain (Loss) on Hedged Item, Net	184	(88)	(401)	770
Total Gain (Loss) On Derivatives, Net	(28)	(18)	(27)	53
Designated as Hedging Instrument [Member] | Fair Value [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	(204)	67	414	(655)
Realized Gain (Loss) on Derivatives	48	89	103	186
Unrealized Gain (Loss) on Hedged Item	184	(88)	(401)	770
Total Gain (Loss) on Derivatives, Gross	28	68	116	301
Designated as Hedging Instrument [Member] | Fair Value [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	71	(235)	315	(115)
Realized Gain (Loss) on Derivatives	68	86	139	182
Unrealized Gain (Loss) on Hedged Item	(68)	252	(347)	123
Total Gain (Loss) on Derivatives, Gross	71	103	107	190
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	(275)	302	99	(540)
Realized Gain (Loss) on Derivatives	(20)	3	(36)	4
Unrealized Gain (Loss) on Hedged Item	252	(340)	(54)	647
Total Gain (Loss) on Derivatives, Gross	(43)	(35)	9	111
Designated as Hedging Instrument [Member] | Cash Flow [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives	(11)		(11)
Total Gain (Loss) on Derivatives, Gross	(11)		(11)
Designated as Hedging Instrument [Member] | Cash Flow [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives	(11)		(11)
Total Gain (Loss) on Derivatives, Gross	(11)		(11)
Trading [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	39	159	137	247
Realized Gain (Loss) on Derivatives	(47)	(156)	(177)	(309)
Total Gain (Loss) on Derivatives, Gross	(8)	3	(40)	(62)
Trading [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	11	(5)	63	13
Realized Gain (Loss) on Derivatives	11	9	20	20
Total Gain (Loss) on Derivatives, Gross	22	4	83	33
Trading [Member] | Cross-Currency Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	25	(5)	45	(5)
Realized Gain (Loss) on Derivatives	(1)	(1)	(2)	(2)
Total Gain (Loss) on Derivatives, Gross	24	(6)	43	(7)
Trading [Member] | Floor Income Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	7	171	34	243
Realized Gain (Loss) on Derivatives	(56)	(163)	(194)	(325)
Total Gain (Loss) on Derivatives, Gross	(49)	8	(160)	(82)
Trading [Member] | Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	(4)	(2)	(5)	(4)
Realized Gain (Loss) on Derivatives	(1)	(1)	(1)	(2)
Total Gain (Loss) on Derivatives, Gross	(5)	(3)	(6)	(6)
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Less: realized gains (losses) recorded in interest expense	37	89	92	186
Realized Gain (Loss) on Derivatives	$ 37	$ 89	$ 92	$ 186

Derivative Financial Instrume49

Derivative Financial Instruments - Collateral Held and Pledged (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Collateral held:
Cash (obligation to return cash collateral is recorded in short-term borrowings)	$ 451	$ 759
Securities at fair value - corporate derivatives (not recorded in the financial statements)	503
Securities at fair value - on-balance sheet securitization derivatives (not recorded in financial statements)	391	301
Total collateral held	1,345	1,060
Derivative asset at fair value including accrued interest	1,272	896
Collateral pledged to others:
Cash (right to receive return of cash collateral is recorded in investments)	511	466
Total collateral pledged	511	466
Derivative liability at fair value including accrued interest and premium receivable	$ 1,610	$ 1,395

Derivative Financial Instrume50

Derivative Financial Instruments - Collateral Held and Pledged (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Collateral held in restricted cash account	$ 11	$ 2

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Other Assets [Line Items]
Other	$ 432	$ 400
Total	4,782	4,682
Other Assets [Member]
Other Assets [Line Items]
Accrued interest receivable, net	1,596	1,646
Derivatives at fair value	1,083	678
Income tax asset, net current and deferred	871	906
Benefit and insurance-related investments	483	491
Fixed assets, net	160	162
Accounts receivable	92	329
Other loans, net	$ 65	$ 70

Business Combinations - Acqui52

Business Combinations - Acquisition of Gila LLC and Xtend Healthcare - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended		6 Months Ended	9 Months Ended
	Oct. 31, 2015	Feb. 28, 2015	Jun. 30, 2016	Sep. 30, 2015
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
Goodwill				$ 97
Business acquisition, indefinite life intangible asset				13
Business acquisition, definite life intangible assets				$ 71
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	89.00%
Business acquisition, purchase price	$ 164
Goodwill			$ 102
Business acquisition, definite life intangible assets			$ 65
Asset Recovery - Xtend Healthcare [Member] | Minimum [Member]
Indefinite-lived Intangible Assets [Line Items]
Definite life intangible assets, amortization period			10 years
Asset Recovery - Xtend Healthcare [Member] | Maximum [Member]
Indefinite-lived Intangible Assets [Line Items]
Definite life intangible assets, amortization period			15 years

Stockholders' Equity - Common S

Stockholders' Equity - Common Share Repurchases and Issuances (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Equity, Class of Treasury Stock [Line Items]
Average purchase price per share	$ 12.90	$ 19.76	$ 11.45	$ 20.12
Shares repurchased related to employee stock-based compensation plans	368,439	431,168	1,354,712	2,075,932
Average purchase price per share	$ 13.05	$ 19.83	$ 10.80	$ 20.65
Common shares issued	467,007	633,170	2,966,592	4,218,408
Common Stock Shares Outstanding [Member]
Equity, Class of Treasury Stock [Line Items]
Common stock repurchased	13,579,381	15,190,685	32,789,662	29,844,520
Shares repurchased related to employee stock-based compensation plans	368,439	431,168	1,354,712	2,075,932
Common shares issued	467,007	633,170	2,966,592	4,218,408

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Class of Stock [Line Items]
Common stock dividend paid	$ 0.16	$ 0.16	$ 0.16	$ 0.32	$ 0.32
Purchase price of common stock repurchased on open market	$ 175,000,000		$ 300,000,000	$ 375,000,000	$ 600,000,000
Authorized share repurchased program remaining available amount	$ 380,000,000			$ 380,000,000
Common Stock [Member]
Class of Stock [Line Items]
Closing price of common stock	$ 11.95			$ 11.95
Common Stock Shares Outstanding [Member]
Class of Stock [Line Items]
Common shares repurchased	13,579,381		15,190,685	32,789,662	29,844,520

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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator:
Net income attributable to Navient Corporation	$ 125	$ 182	$ 305	$ 474
Denominator:
Weighted average shares used to compute basic EPS	322	381	331	389
Effect of dilutive securities:
Dilutive effect of stock options, non-vested restricted stock, restricted stock units and Employee Stock Purchase Plans ("ESPPs")	6	6	4	7
Dilutive potential common shares	6	6	4	7
Weighted average shares used to compute diluted EPS	328	387	335	396
Basic earnings (loss) per common share attributable to Navient Corporation:
Continuing operations	$ 0.39	$ 0.48	$ 0.92	$ 1.22
Discontinued operations	0	0	0	0
Total	0.39	0.48	0.92	1.22
Diluted earnings (loss) per common share attributable to Navient Corporation:
Continuing operations	0.38	0.47	0.91	1.20
Discontinued operations	0	0	0	0
Total	$ 0.38	$ 0.47	$ 0.91	$ 1.20

Earnings per Common Share - S56

Earnings per Common Share - Schedule of Earnings per Common Share (Parenthetical) (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 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	5	3	5	3

Fair Value Measurements - Valua

Fair Value Measurements - Valuation of Financial Instruments that are Marked-to-Market on Recurring Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Available-for-sale investments:
Available-for-sale investments	$ 4	$ 5
Derivative assets	1,109	728
Derivative liabilities	(1,611)	(1,515)
Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	1,098	726
Derivative liabilities	(345)	(160)
Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	10	2
Derivative liabilities	(852)	(988)
Other [Member]
Available-for-sale investments:
Derivative assets	1
Derivative liabilities	(8)	(2)
Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(406)	(365)
Fair Value Measurements Recurring [Member]
Available-for-sale investments:
Available-for-sale investments	4	5
Derivative assets	1,109	728
Total	1,113	733
Derivative liabilities	(1,611)	(1,515)
Total	(1,611)	(1,515)
Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	1,098	726
Derivative liabilities	(345)	(160)
Fair Value Measurements Recurring [Member] | Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	10	2
Derivative liabilities	(852)	(988)
Fair Value Measurements Recurring [Member] | Other [Member]
Available-for-sale investments:
Derivative assets	1
Derivative liabilities	(8)	(2)
Fair Value Measurements Recurring [Member] | Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(406)	(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	3	4
Level 2 [Member] | Fair Value Measurements Recurring [Member]
Available-for-sale investments:
Available-for-sale investments	4	5
Derivative assets	1,070	709
Total	1,074	714
Derivative liabilities	(727)	(547)
Total	(727)	(547)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	1,070	709
Derivative liabilities	(280)	(99)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative liabilities	(41)	(83)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(406)	(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	3	4
Level 3 [Member] | Fair Value Measurements Recurring [Member]
Available-for-sale investments:
Derivative assets	39	19
Total	39	19
Derivative liabilities	(884)	(968)
Total	(884)	(968)
Level 3 [Member] | Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	28	17
Derivative liabilities	(65)	(61)
Level 3 [Member] | Fair Value Measurements Recurring [Member] | Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	10	2
Derivative liabilities	(811)	(905)
Level 3 [Member] | Fair Value Measurements Recurring [Member] | Other [Member]
Available-for-sale investments:
Derivative assets	1
Derivative liabilities	$ (8)	$ (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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	$ (564)	$ (1,059)	$ (949)	$ (216)
Total gains/(losses) (realized and unrealized):
Included in earnings	(302)	308	65	(534)
Included in other comprehensive income	0	0	0	0
Settlements	21		39	(1)
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(845)	(751)	(845)	(751)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	(281)	308	104	(532)
Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	(32)	(88)	(44)	(88)
Total gains/(losses) (realized and unrealized):
Included in earnings	(5)	5	6	6
Included in other comprehensive income	0	0	0	0
Settlements		1	1
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(37)	(82)	(37)	(82)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	(4)	6	8	6
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	(528)	(958)	(903)	(117)
Total gains/(losses) (realized and unrealized):
Included in earnings	(293)	306	65	(534)
Included in other comprehensive income	0	0	0	0
Settlements	20	(2)	37	(3)
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(801)	(654)	(801)	(654)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	(273)	304	102	(534)
Other [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	(4)	(13)	(2)	(11)
Total gains/(losses) (realized and unrealized):
Included in earnings	(4)	(3)	(6)	(6)
Included in other comprehensive income	0	0	0	0
Settlements	1	1	1	2
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(7)	(15)	(7)	(15)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	$ (4)	$ (2)	$ (6)	$ (4)

Fair Value Measurements - Inclu

Fair Value Measurements - Included in Earnings (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gains (losses) on derivative and hedging activities, net	$ (302)	$ 308	$ 65	$ (534)
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	(282)	306	102	(537)
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	$ (20)	$ 2	$ (37)	$ 3

Fair Value Measurements - Unobs

Fair Value Measurements - Unobservable Data Used in Recurring Valuations of Level 3 (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 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	$ (845)
Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	753	$ 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	(842)	(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	$ (801)
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	$ (7)	$ (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	(7)
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	$ 10
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] | Minimum [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, Basis Spread on Variable Rate	0.02%
Consumer Price Index/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Bid/Ask Adjustment to Discount Rate [Member] | Maximum [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, Basis Spread on Variable Rate	0.05%
Consumer Price Index/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Bid/Ask Adjustment to Discount Rate [Member] | Weighted Average [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
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	$ (47)
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] | Minimum [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, Basis Spread on Variable Rate	0.03%
Prime/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Bid/Ask Adjustment to Discount Rate [Member] | Maximum [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, Basis Spread on Variable Rate	0.05%
Prime/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Bid/Ask Adjustment to Discount Rate [Member] | Weighted Average [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, Basis Spread on Variable Rate	0.05%
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	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total earning assets, Carrying Value	$ 122,894	$ 128,725
Short-term borrowings, Carrying Value	2,370	2,570
Long-term borrowings, Carrying Value	119,637	124,833
Total interest-bearing liabilities, Carrying Value	122,007	127,403
Total earning assets, Fair Value	120,384	125,982
Short-term borrowings, Fair Value	2,376	2,569
Long-term borrowings, Fair Value	113,665	118,471
Total interest-bearing liabilities, Fair Value	116,041	121,040
Floor Income Contracts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(406)	(365)
Derivative financial instruments, Fair Value	(406)	(365)
Interest Rate Swaps [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	753	566
Derivative financial instruments, Fair Value	753	566
Cross-Currency Interest Rate Swaps [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(842)	(986)
Derivative financial instruments, Fair Value	(842)	(986)
Other [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(7)	(2)
Derivative financial instruments, Fair Value	(7)	(2)
FFELP Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, Carrying Value	92,618	96,498
Loans receivable, Fair Value	90,723	94,377
Private Education Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, Carrying Value	24,741	26,394
Loans receivable, Fair Value	24,126	25,772
Difference [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total earning assets, Fair Value	(2,510)	(2,743)
Short-term borrowings, Fair Value	(6)	1
Long-term borrowings, Fair Value	5,972	6,362
Total interest-bearing liabilities, Fair Value	5,966	6,363
Excess of net asset fair value over carrying value	3,456	3,620
Difference [Member] | FFELP Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, Fair Value	(1,895)	(2,121)
Difference [Member] | Private Education Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, Fair Value	(615)	(622)
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and investments	5,535	5,833
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and investments	$ 5,535	$ 5,833

Fair Value Measurements - Fai62

Fair Value Measurements - Fair Values of Financial Assets and Liabilities, Including Derivative Financial Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Available-for-sale investments, cost basis	$ 4	$ 4
Available-for-sale investments, fair value	$ 4	$ 5

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	May 13, 2014	Jun. 30, 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]
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	Jun. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Other	$ 4,782	$ 4,682
Total assets	128,372	134,112
Private Education Loans Segment [Member]
Segment Reporting Information [Line Items]
Loans, net	24,741	26,394
Cash and investments	787	596
Other	2,140	1,988
Total assets	27,668	28,978
FFELP Loans Segment [Member]
Segment Reporting Information [Line Items]
Loans, net	92,618	96,498
Cash and investments	3,263	3,572
Other	1,983	2,015
Total assets	$ 97,864	$ 102,085

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total assets	$ 128,372	$ 134,112
Business Services Segment [Member]
Segment Reporting Information [Line Items]
Total assets	640	657
Other Segment [Member]
Segment Reporting Information [Line Items]
Total assets	$ 2,200	$ 2,400

Segment Reporting - Segment Res

Segment Reporting - Segment Results and Reconciliations to GAAP (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Interest income:
Education loans	$ 1,020	$ 1,060	$ 2,065	$ 2,153
Other loans	2	2	3	4
Cash and investments	6	2	12	4
Total interest income	1,028	1,064	2,080	2,161
Total interest expense	599	515	1,165	1,029
Net interest income (loss)	429	549	915	1,132
Less: provisions for loan losses	110	198	221	323
Net interest income (loss) after provisions for loan losses	319	351	694	809
Other income (loss):
Servicing revenue	71	106	154	182
Asset recovery and business processing revenue	101	99	191	188
Other income (loss)	(49)	(11)	(62)	68
Gains on sales of loans and investments		7		12
Gains on debt repurchases	0	0	0	0
Total other income	123	201	283	450
Expenses:
Direct operating expenses	175	170	362	338
Overhead expenses	55	55	116	118
Total operating expenses	230	225	478	456
Goodwill and acquired intangible asset impairment and amortization	6	3	10	4
Restructuring and other reorganization expenses		29		32
Total expenses	236	257	488	492
Income (loss) from continuing operations, before income tax expense (benefit)	206	295	489	767
Income tax expense (benefit)	81	113	184	293
Net income (loss) from continuing operations	125	182	305	474
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0	0	0
Net income (loss)	125	182	305	474
Reclassifications [Member]
Interest income:
Education loans	56	163	195	325
Total interest income	56	163	195	325
Total interest expense	9	7	18	16
Net interest income (loss)	47	156	177	309
Net interest income (loss) after provisions for loan losses	47	156	177	309
Other income (loss):
Other income (loss)	(47)	(156)	(177)	(309)
Gains on debt repurchases	0	0	0	0
Total other income	(47)	(156)	(177)	(309)
Expenses:
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0	0	0
Additions/ (Subtractions) [Member]
Interest income:
Education loans	(26)	(59)	(86)	(118)
Total interest income	(26)	(59)	(86)	(118)
Net interest income (loss)	(26)	(59)	(86)	(118)
Net interest income (loss) after provisions for loan losses	(26)	(59)	(86)	(118)
Other income (loss):
Other income (loss)	(6)	142	108	367
Gains on debt repurchases	0	0	0	0
Total other income	(6)	142	108	367
Expenses:
Goodwill and acquired intangible asset impairment and amortization	6	3	10	4
Restructuring and other reorganization expenses		29		32
Total expenses	6	32	10	36
Income (loss) from continuing operations, before income tax expense (benefit)	(38)	51	12	213
Income tax expense (benefit)	(9)	23	8	87
Net income (loss) from continuing operations	(29)	28	4	126
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0	0	0
Net income (loss)	(29)	28	4	126
Total Adjustments [Member]
Interest income:
Education loans	30	104	109	207
Total interest income	30	104	109	207
Total interest expense	9	7	18	16
Net interest income (loss)	21	97	91	191
Net interest income (loss) after provisions for loan losses	21	97	91	191
Other income (loss):
Other income (loss)	(53)	(14)	(69)	58
Gains on debt repurchases	0	0	0	0
Total other income	(53)	(14)	(69)	58
Expenses:
Total operating expenses	0	0	0	0
Goodwill and acquired intangible asset impairment and amortization	6	3	10	4
Restructuring and other reorganization expenses		29		32
Total expenses	6	32	10	36
Income (loss) from continuing operations, before income tax expense (benefit)	(38)	51	12	213
Income tax expense (benefit)	(9)	23	8	87
Net income (loss) from continuing operations	(29)	28	4	126
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0	0	0
Net income (loss)	(29)	28	4	126
Operating Segments [Member]
Interest income:
Education loans	990	956	1,956	1,946
Other loans	2	2	3	4
Cash and investments	6	2	12	4
Total interest income	998	960	1,971	1,954
Total interest expense	590	508	1,147	1,013
Net interest income (loss)	408	452	824	941
Less: provisions for loan losses	110	198	221	323
Net interest income (loss) after provisions for loan losses	298	254	603	618
Other income (loss):
Servicing revenue	71	106	154	182
Asset recovery and business processing revenue	101	99	191	188
Other income (loss)	4	3	7	10
Gains on sales of loans and investments		7		12
Gains on debt repurchases	0	0	0	0
Total other income	176	215	352	392
Expenses:
Direct operating expenses	175	170	362	338
Overhead expenses	55	55	116	118
Total operating expenses	230	225	478	456
Total expenses	230	225	478	456
Income (loss) from continuing operations, before income tax expense (benefit)	244	244	477	554
Income tax expense (benefit)	90	90	176	206
Net income (loss) from continuing operations	154	154	301	348
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0	0	0
Net income (loss)	154	154	301	348
Operating Segments [Member] | FFELP Loans Segment [Member]
Interest income:
Education loans	588	522	1,143	1,055
Cash and investments	5	1	8	3
Total interest income	593	523	1,151	1,058
Total interest expense	388	309	746	611
Net interest income (loss)	205	214	405	447
Less: provisions for loan losses	10	7	17	12
Net interest income (loss) after provisions for loan losses	195	207	388	435
Other income (loss):
Servicing revenue	14	45	31	63
Gains on sales of loans and investments		7		12
Gains on debt repurchases	0	0	0	0
Total other income	14	52	31	75
Expenses:
Direct operating expenses	101	112	206	227
Total operating expenses	101	112	206	227
Total expenses	101	112	206	227
Income (loss) from continuing operations, before income tax expense (benefit)	108	147	213	283
Income tax expense (benefit)	40	54	79	106
Net income (loss) from continuing operations	68	93	134	177
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0	0	0
Net income (loss)	68	93	134	177
Operating Segments [Member] | Private Education Loans Segment [Member]
Interest income:
Education loans	402	434	813	891
Cash and investments			1
Total interest income	402	434	814	891
Total interest expense	173	171	345	345
Net interest income (loss)	229	263	469	546
Less: provisions for loan losses	100	191	204	311
Net interest income (loss) after provisions for loan losses	129	72	265	235
Other income (loss):
Servicing revenue	3	6	8	12
Gains on debt repurchases	0	0	0	0
Total other income	3	6	8	12
Expenses:
Direct operating expenses	41	43	84	89
Total operating expenses	41	43	84	89
Total expenses	41	43	84	89
Income (loss) from continuing operations, before income tax expense (benefit)	91	35	189	158
Income tax expense (benefit)	34	13	70	58
Net income (loss) from continuing operations	57	22	119	100
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0	0	0
Net income (loss)	57	22	119	100
Operating Segments [Member] | Business Services Segment [Member]
Other income (loss):
Servicing revenue	153	163	315	326
Asset recovery and business processing revenue	101	99	191	188
Other income (loss)				2
Gains on debt repurchases	0	0	0	0
Total other income	254	262	506	516
Expenses:
Direct operating expenses	125	117	258	233
Total operating expenses	125	117	258	233
Total expenses	125	117	258	233
Income (loss) from continuing operations, before income tax expense (benefit)	129	145	248	283
Income tax expense (benefit)	48	54	91	106
Net income (loss) from continuing operations	81	91	157	177
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0	0	0
Net income (loss)	81	91	157	177
Operating Segments [Member] | Other Segment [Member]
Interest income:
Other loans	2	2	3	4
Cash and investments	1	1	3	1
Total interest income	3	3	6	5
Total interest expense	29	28	56	57
Net interest income (loss)	(26)	(25)	(50)	(52)
Net interest income (loss) after provisions for loan losses	(26)	(25)	(50)	(52)
Other income (loss):
Other income (loss)	4	3	7	8
Gains on debt repurchases	0	0	0	0
Total other income	4	3	7	8
Expenses:
Direct operating expenses	7	6	14	8
Overhead expenses	55	55	116	118
Total operating expenses	62	61	130	126
Total expenses	62	61	130	126
Income (loss) from continuing operations, before income tax expense (benefit)	(84)	(83)	(173)	(170)
Income tax expense (benefit)	(32)	(31)	(64)	(64)
Net income (loss) from continuing operations	(52)	(52)	(109)	(106)
Income (loss) from discontinued operations, net of tax expense (benefit)	0	0	0	0
Net income (loss)	(52)	(52)	(109)	(106)
Eliminations [Member]
Other income (loss):
Servicing revenue	(99)	(108)	(200)	(219)
Gains on debt repurchases	0	0	0	0
Total other income	(99)	(108)	(200)	(219)
Expenses:
Direct operating expenses	(99)	(108)	(200)	(219)
Total operating expenses	(99)	(108)	(200)	(219)
Total expenses	(99)	(108)	(200)	(219)
Income (loss) from discontinued operations, net of tax expense (benefit)	$ 0	$ 0	$ 0	$ 0

Segment Reporting - Segment R67

Segment Reporting - Segment Result and Reconciliations to GAAP - Core Earnings Adjustments (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income after provisions for loan losses	$ 319	$ 351	$ 694	$ 809
Total other income (loss)	123	201	283	450
Operating expenses	230	225	478	456
Goodwill and acquired intangible asset impairment and amortization	6	3	10	4
Restructuring and other reorganization expenses		29		32
Income tax expense (benefit)	81	113	184	293
Net income attributable to Navient Corporation	125	182	305	474
Total Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income after provisions for loan losses	21	97	91	191
Total other income (loss)	(53)	(14)	(69)	58
Operating expenses	0	0	0	0
Goodwill and acquired intangible asset impairment and amortization	6	3	10	4
Restructuring and other reorganization expenses		29		32
Total "Core Earnings" adjustments to GAAP	(38)	51	12	213
Income tax expense (benefit)	(9)	23	8	87
Net income attributable to Navient Corporation	(29)	28	4	126
Net Impact from Spin-Off of SLM BankCo [Member] | Total Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating expenses	0	0	0	0
Restructuring and other reorganization expenses		29		32
Total "Core Earnings" adjustments to GAAP		(29)		(32)
Net Impact of Derivative Accounting [Member] | Total Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income after provisions for loan losses	21	97	91	191
Total other income (loss)	(53)	(14)	(69)	58
Operating expenses	0	0	0	0
Total "Core Earnings" adjustments to GAAP	(32)	83	22	249
Net Impact of Acquired Intangibles [Member] | Total Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating expenses	0	0	0	0
Goodwill and acquired intangible asset impairment and amortization	6	3	10	4
Total "Core Earnings" adjustments to GAAP	$ (6)	$ (3)	$ (10)	$ (4)

Segment Reporting - Core Earnin

Segment Reporting - Core Earnings Adjustments to GAAP (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
"Core Earnings" adjustments to GAAP:
Net tax effect	$ (81)	$ (113)	$ (184)	$ (293)
Net income attributable to Navient Corporation	125	182	305	474
Total Adjustments [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	(38)	51	12	213
Net tax effect	9	(23)	(8)	(87)
Net income attributable to Navient Corporation	(29)	28	4	126
Total Adjustments [Member] | Net Impact from Spin-Off of SLM BankCo [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP		(29)		(32)
Total Adjustments [Member] | Net Impact of Derivative Accounting [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	(32)	83	22	249
Total Adjustments [Member] | Net Impact of Acquired Intangibles [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	$ (6)	$ (3)	$ (10)	$ (4)

Segment Reporting - Core Earn69

Segment Reporting - Core Earnings Adjustments to GAAP (Parenthetical) (Detail)	6 Months Ended
	Jun. 30, 2016USD ($)
Segment Reporting [Abstract]
Amount that will be equal to cumulative net unrealized gain or loss over the life of the contract	$ 0