Navient (NAVI) 10-Q 7 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2016shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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	303,098,470

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Investments
Available-for-sale	$ 4	$ 5
Other	438	496
Total investments	442	501
Cash and cash equivalents	1,823	1,594
Restricted cash and investments	3,617	3,738
Goodwill and acquired intangible assets, net	683	705
Other assets	4,591	4,682
Total assets	125,312	134,112
Liabilities
Short-term borrowings	2,637	2,570
Long-term borrowings	116,540	124,833
Other liabilities	2,401	2,710
Total liabilities	121,578	130,113
Commitments and contingencies
Equity
Common stock, par value $0.01 per share, 1.125 billion shares authorized: 435 million and 431 million shares issued, respectively	4	4
Additional paid-in capital	3,006	2,967
Accumulated other comprehensive loss (net of tax benefit of $73 and $30, respectively)	(126)	(51)
Retained earnings	2,858	2,480
Total Navient Corporation stockholders' equity before treasury stock	5,742	5,400
Less: Common stock held in treasury at cost: 132 million and 82 million shares, respectively	(2,032)	(1,425)
Total Navient Corporation stockholders' equity	3,710	3,975
Noncontrolling interest	24	24
Total equity	3,734	3,999
Total liabilities and equity	125,312	134,112
FFELP Loans [Member]
Assets
Loans, net	90,146	96,498
Private Education Loans [Member]
Assets
Loans, net	24,010	26,394
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Investments
Restricted cash	3,437	3,553
Other assets	553	293
Liabilities
Short-term borrowings	381	710
Long-term borrowings	99,027	106,510
Net assets of consolidated variable interest entities	10,732	11,266
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loans [Member]
Assets
Loans, net	85,079	91,516
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Private Education Loans [Member]
Assets
Loans, net	21,025	$ 23,124
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Other Loans [Member]
Assets
Loans, net	$ 46

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Allowance for loans losses	$ 1,465	$ 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	435,000,000	431,000,000
Tax benefit for accumulated other comprehensive loss	$ 73	$ 30
Common stock held in treasury	132,000,000	82,000,000
FFELP Loans [Member]
Allowance for loans losses	$ 58	$ 78
Private Education Loans [Member]
Allowance for loans losses	$ 1,392	$ 1,471

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Interest income:
Education loans	$ 1,032	$ 1,074	$ 3,096	$ 3,227
Other loans	2	1	5	5
Cash and investments	5	2	17	6
Total interest income	1,039	1,077	3,118	3,238
Total interest expense	627	524	1,791	1,553
Net interest income	412	553	1,327	1,685
Less: provisions for loan losses	106	123	327	446
Net interest income after provisions for loan losses	306	430	1,000	1,239
Other income (loss):
Servicing revenue	76	76	230	258
Asset recovery and business processing revenue	97	85	288	273
Other income (loss)			(36)	15
Gains on sales of loans and investments				12
Gains on debt repurchases	1		1
Gains (losses) on derivative and hedging activities, net	137	20	111	73
Total other income	311	181	594	631
Expenses:
Salaries and benefits	122	106	379	344
Other operating expenses	106	122	327	339
Total operating expenses	228	228	706	683
Goodwill and acquired intangible asset impairment and amortization expense	12	3	22	7
Restructuring and other reorganization expenses				32
Total expenses	240	231	728	722
Income from continuing operations, before income tax expense	377	380	866	1,148
Income tax expense	147	144	331	438
Net income from continuing operations	230	236	535	710
Income from discontinued operations, net of tax expense		1		1
Net income	230	237	535	711
Less: net income (loss) attributable to noncontrolling interest	0	0	0	0
Net income attributable to Navient Corporation	$ 230	$ 237	$ 535	$ 711
Basic earnings per common share attributable to Navient Corporation:
Continuing operations	$ 0.74	$ 0.64	$ 1.65	$ 1.86
Discontinued operations	0	0	0	0
Total	$ 0.74	$ 0.64	$ 1.65	$ 1.86
Average common shares outstanding	310	369	324	382
Diluted earnings per common share attributable to Navient Corporation:
Continuing operations	$ 0.73	$ 0.63	$ 1.63	$ 1.83
Discontinued operations	0	0	0	0
Total	$ 0.73	$ 0.63	$ 1.63	$ 1.83
Average common and common equivalent shares outstanding	316	375	329	389
Dividends per common share attributable to Navient Corporation	$ 0.16	$ 0.16	$ 0.48	$ 0.48
FFELP Loans [Member]
Interest income:
Education loans	$ 631	$ 630	$ 1,883	$ 1,892
Less: provisions for loan losses	13	7	30	19
Private Education Loans [Member]
Interest income:
Education loans	401	444	1,213	1,335
Less: provisions for loan losses	$ 92	$ 117	$ 296	$ 428

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 230	$ 237	$ 535	$ 711
Other comprehensive income (loss):
Unrealized hedging gains (losses) on derivatives	74	(88)	(118)	(143)
Reclassification adjustments for derivative (gains) losses included in net income (interest expense)	(1)		(1)	(1)
Total unrealized gains (losses) on derivatives	73	(88)	(119)	(144)
Income tax (expense) benefit	(28)	32	44	53
Other comprehensive income (loss), net of tax expense (benefit)	45	(56)	(75)	(91)
Total comprehensive income attributable to Navient Corporation	$ 275	$ 181	$ 460	$ 620

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)	711						711	711
Other comprehensive income (loss), net of tax	(91)					(91)		(91)
Total comprehensive income	620							620
Cash dividends:
Common stock	(182)						(182)	(182)
Dividend equivalent units related to employee stock-based compensation plans	(2)						(2)	(2)
Issuance of common shares	$ 33				33			33
Issuance of common shares, Shares	4,781,517	4,781,517		4,781,517
Tax benefit related to employee stock-based compensation plans	$ 11				11			11
Stock-based compensation expense	27				27			27
Common stock repurchased	(775)		$ (775)					(775)
Common stock repurchased, Shares			(41,919,908)	(41,919,908)
Shares repurchased related to employee stock-based compensation plans	$ (47)		$ (47)					(47)
Shares repurchased related to employee stock-based compensation plans, Shares	(2,287,761)		(2,287,761)	(2,287,761)
Noncontrolling interests in businesses	$ 4								$ 4
Ending Balance, Value at Sep. 30, 2015	3,887	$ 4	$ (1,254)		2,964	(82)	2,251	3,883	4
Ending Balance, Shares at Sep. 30, 2015		430,419,152	(68,110,498)	362,308,654
Beginning Balance, Value at Jun. 30, 2015	3,933	$ 4	$ (1,075)		2,954	(26)	2,072	3,929	4
Beginning Balance, Shares at Jun. 30, 2015		429,856,043	(55,823,281)	374,032,762
Comprehensive income:
Net income (loss)	237						237	237
Other comprehensive income (loss), net of tax	(56)					(56)		(56)
Total comprehensive income	181							181
Cash dividends:
Common stock	(58)						(58)	(58)
Issuance of common shares	$ 6				6			6
Issuance of common shares, Shares	563,109	563,109		563,109
Stock-based compensation expense	$ 4				4			4
Common stock repurchased	(175)		$ (175)					(175)
Common stock repurchased, Shares			(12,075,388)	(12,075,388)
Shares repurchased related to employee stock-based compensation plans	$ (4)		$ (4)					(4)
Shares repurchased related to employee stock-based compensation plans, Shares	(211,829)		(211,829)	(211,829)
Ending Balance, Value at Sep. 30, 2015	$ 3,887	$ 4	$ (1,254)		2,964	(82)	2,251	3,883	4
Ending Balance, Shares at Sep. 30, 2015		430,419,152	(68,110,498)	362,308,654
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)	535						535	535
Other comprehensive income (loss), net of tax	(75)					(75)		(75)
Total comprehensive income	460							460
Cash dividends:
Common stock	(154)						(154)	(154)
Dividend equivalent units related to employee stock-based compensation plans	(3)						(3)	(3)
Issuance of common shares	$ 25				25			25
Issuance of common shares, Shares	4,525,047	4,525,047		4,525,047
Tax benefit related to employee stock-based compensation plans	$ (8)				(8)			(8)
Stock-based compensation expense	22				22			22
Common stock repurchased	(575)		$ (575)					(575)
Common stock repurchased, Shares			(47,137,636)	(47,137,636)
Shares repurchased related to employee stock-based compensation plans	$ (32)		$ (32)					(32)
Shares repurchased related to employee stock-based compensation plans, Shares	(2,499,729)		(2,499,729)	(2,499,729)
Ending Balance, Value at Sep. 30, 2016	$ 3,734	$ 4	$ (2,032)		3,006	(126)	2,858	3,710	24
Ending Balance, Shares at Sep. 30, 2016		435,086,703	(131,988,233)	303,098,470
Beginning Balance, Value at Jun. 30, 2016	3,703	$ 4	$ (1,816)		2,985	(171)	2,677	3,679	24
Beginning Balance, Shares at Jun. 30, 2016		433,528,248	(116,495,242)	317,033,006
Comprehensive income:
Net income (loss)	230						230	230
Other comprehensive income (loss), net of tax	45					45		45
Total comprehensive income	275							275
Cash dividends:
Common stock	(49)						(49)	(49)
Issuance of common shares	$ 17				17			17
Issuance of common shares, Shares	1,558,455	1,558,455		1,558,455
Stock-based compensation expense	$ 4				4			4
Common stock repurchased	(200)		$ (200)					(200)
Common stock repurchased, Shares			(14,347,974)	(14,347,974)
Shares repurchased related to employee stock-based compensation plans	$ (16)		$ (16)					(16)
Shares repurchased related to employee stock-based compensation plans, Shares	(1,145,017)		(1,145,017)	(1,145,017)
Ending Balance, Value at Sep. 30, 2016	$ 3,734	$ 4	$ (2,032)		$ 3,006	$ (126)	$ 2,858	$ 3,710	$ 24
Ending Balance, Shares at Sep. 30, 2016		435,086,703	(131,988,233)	303,098,470

Consolidated Statements of Cha7

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Dividends per common share attributable to Navient Corporation	$ 0.16	$ 0.16	$ 0.48	$ 0.48
Retained Earnings [Member]
Dividends per common share attributable to Navient Corporation	0.16	0.16	0.48	0.48
Total Stockholders' Equity [Member]
Dividends per common share attributable to Navient Corporation	$ 0.16	$ 0.16	$ 0.48	$ 0.48

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating activities
Net income	$ 535	$ 711
Adjustments to reconcile net income to net cash provided by operating activities:
Income from discontinued operations, net of tax		(1)
Gains on loans and investments, net		(12)
Gains on debt repurchases	(1)
Goodwill and acquired intangible asset impairment and amortization expense	22	7
Stock-based compensation expense	22	27
Unrealized gains on derivative and hedging activities	(303)	(537)
Provisions for loan losses	327	446
Decrease in restricted cash - other		50
Decrease in accrued interest receivable	98	196
Decrease in accrued interest payable	(159)	(93)
Decrease in other assets	489	799
Increase (decrease) in other liabilities	84	(134)
Total net cash provided by operating activities	1,114	1,459
Investing activities
Education loans acquired	(2,845)	(2,940)
Reduction of education loans:
Installment payments, claims and other	11,210	10,583
Proceeds from sales of education loans		386
Other investing activities, net	(4)	(46)
Proceeds from maturities of available-for-sale securities	1	1
Purchases of other securities	(44)	(82)
Proceeds from maturities of other securities	44	24
Decrease (increase) in restricted cash - variable interest entities	136	(396)
Purchase of subsidiary, net of cash acquired		(181)
Total net cash provided by investing activities	8,498	7,349
Financing activities
Borrowings collateralized by loans in trust - issued	4,796	4,110
Borrowings collateralized by loans in trust - repaid	(9,830)	(10,949)
Asset-backed commercial paper conduits, net	(3,011)	543
Other long-term borrowings issued	1,231	493
Other long-term borrowings repaid	(1,849)	(2,075)
Other financing activities, net	9	(111)
Common stock repurchased	(575)	(775)
Common stock dividends paid	(154)	(182)
Net cash used in financing activities	(9,383)	(8,946)
Net increase (decrease) in cash and cash equivalents	229	(138)
Cash and cash equivalents at beginning of period	1,594	1,443
Cash and cash equivalents at end of period	1,823	1,305
Cash disbursements made (refunds received) for:
Interest	1,683	1,489
Income taxes paid	164	$ 67
Income taxes received	$ (2)

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 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 nine months ended September 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 nine months ended September 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 the Company as of January 1, 2018. 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 the Company as of January 1, 2019. 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 as of January 1, 2017. 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 as of 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. Education Loan Interest Income The Company has a net unamortized premium balance of $451 million in connection with its $115 billion education loan portfolio as of September 30, 2016. In the third quarter of 2016, the Company corrected its policy for applying the interest method used to amortize premium and discounts on the education loan portfolio. Previously, the Company amortized premium and discounts by including in its prepayment assumption forecasted payments in excess of contractually required payments as well as forecasted defaults and term extensions (deferment and forbearance or other payment modification programs). We have determined that only payments in excess of contractually required payments should be included in the prepayment assumption. Including defaults in estimated future prepayments has the effect of accelerating the amortization of the net premium balance related to our education loan portfolio. Including term extensions in estimated future prepayments has the effect of slowing down the amortization of the net premium balance related to our education loan portfolio. We believe this correction makes us more comparable to how others apply the interest method. The net impact of this error is currently estimated to be a $2 million reduction to our $451 million net unamortized premium balance as of September 30, 2016. The Constant Prepayment Rates (“CPR”) as of September 30, 2016 under our revised policy are 5 percent, 3 percent and 5 percent for FFELP Stafford Loans, FFELP Consolidation Loans and Private Education Loans, respectively. Our prior policy’s CPRs as of September 30, 2016 would have been 5 percent, 3 percent and 6 percent for FFELP Stafford Loans, FFELP Consolidation Loans and Private Education Loans, respectively. We have concluded this error has an immaterial impact to 2016 results as well as results for prior years. Because the estimated $2 million reduction to the net premium balance (a $1 million reduction to net income) is immaterial, the Company will record such adjustment in the fourth quarter of 2016 once the updated prepayment rates have been finalized. We do not expect the final impact to be materially different than the $1 million reduction to net income currently estimated.

Allowance for Loan Losses

Allowance for Loan Losses	9 Months Ended
	Sep. 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 September 30, 2016 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 62 $ 1,410 $ 15 $ 1,487 Total provision 13 92 1 106 Charge-offs (1) (17 ) (112 ) (1 ) (130 ) Reclassification of interest reserve (2) — 2 — 2 Ending balance $ 58 $ 1,392 $ 15 $ 1,465 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,153 $ 11 $ 1,164 Ending balance: collectively evaluated for impairment $ 58 $ 239 $ 4 $ 301 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,182 $ 32 $ 11,214 Ending balance: collectively evaluated for impairment (3) $ 89,291 $ 14,682 $ 99 $ 104,072 Charge-offs as a percentage of average loans in repayment (annualized) .09 % 1.94 % 1.87 % Allowance coverage of charge-offs (annualized) .8 3.1 7.9 Allowance as a percentage of the ending total loan balance .07 % 5.38 % 11.40 % Allowance as a percentage of the ending loans in repayment .08 % 6.17 % 11.40 % Ending total loans (3) $ 89,291 $ 25,864 $ 131 Average loans in repayment $ 72,921 $ 22,959 $ 102 Ending loans in repayment $ 72,269 $ 22,556 $ 131 (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 September 30, 2015 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 89 $ 1,533 $ 21 $ 1,643 Total provision 7 117 (1 ) 123 Total net charge-offs (1) (12 ) (148 ) (1 ) (161 ) Reclassification of interest reserve (2) — 3 — 3 Ending balance $ 84 $ 1,505 $ 19 $ 1,608 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,247 $ 16 $ 1,263 Ending balance: collectively evaluated for impairment $ 84 $ 258 $ 3 $ 345 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 10,870 $ 41 $ 10,911 Ending balance: collectively evaluated for impairment (3) $ 97,425 $ 18,507 $ 50 $ 115,982 Net charge-offs as a percentage of average loans in repayment (annualized) .06 % 2.31 % 5.10 % Allowance coverage of net charge-offs (annualized) 1.7 2.6 3.9 Allowance as a percentage of the ending total loan balance .09 % 5.12 % 20.31 % Allowance as a percentage of the ending loans in repayment .11 % 5.99 % 20.31 % Ending total loans (3) $ 97,425 $ 29,377 $ 91 Average loans in repayment $ 75,460 $ 25,546 $ 93 Ending loans in repayment $ 75,294 $ 25,104 $ 91 (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. Nine Months Ended September 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 30 296 1 327 Charge-offs (1) (50 ) (383 ) (1 ) (434 ) Reclassification of interest reserve (2) — 8 — 8 Ending balance $ 58 $ 1,392 $ 15 $ 1,465 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,153 $ 11 $ 1,164 Ending balance: collectively evaluated for impairment $ 58 $ 239 $ 4 $ 301 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,182 $ 32 $ 11,214 Ending balance: collectively evaluated for impairment (3) $ 89,291 $ 14,682 $ 99 $ 104,072 Charge-offs as a percentage of average loans in repayment (annualized) .09 % 2.17 % 1.76 % Allowance coverage of charge-offs (annualized) .9 2.7 9.5 Allowance as a percentage of the ending total loan balance .07 % 5.38 % 11.40 % Allowance as a percentage of the ending loans in repayment .08 % 6.17 % 11.40 % Ending total loans (3) $ 89,291 $ 25,864 $ 131 Average loans in repayment $ 73,193 $ 23,564 $ 89 Ending loans in repayment $ 72,269 $ 22,556 $ 131 (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. Nine Months Ended September 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 19 428 (1 ) 446 Net adjustment resulting from the change in the charge-off rate (1) — (330 ) — (330 ) Net charge-offs remaining (2) (28 ) (517 ) (4 ) (549 ) Total net charge-offs (28 ) (847 ) (4 ) (879 ) Reclassification of interest reserve (3) — 8 — 8 Ending balance $ 84 $ 1,505 $ 19 $ 1,608 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,247 $ 16 $ 1,263 Ending balance: collectively evaluated for impairment $ 84 $ 258 $ 3 $ 345 Loans: Ending balance: individually evaluated for impairment (4) $ — $ 10,870 $ 41 $ 10,911 Ending balance: collectively evaluated for impairment (4) $ 97,425 $ 18,507 $ 50 $ 115,982 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 % 2.65 % 5.72 % Net adjustment resulting from the change in the charge-off rate as a percentage of average loans in repayment (annualized) (1) — % 1.69 % — % Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) (1) 2.2 2.2 3.3 Allowance as a percentage of the ending total loan balance .09 % 5.12 % 20.31 % Allowance as a percentage of the ending loans in repayment .11 % 5.99 % 20.31 % Ending total loans (4) $ 97,425 $ 29,377 $ 91 Average loans in repayment $ 76,412 $ 26,100 $ 99 Ending loans in repayment $ 75,294 $ 25,104 $ 91 (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 September 30, 2016 December 31, 2015 (Dollars in millions) Balance (3) % of Balance Balance (3) % of Balance Credit Quality Indicators School Type/FICO Scores: Traditional $ 23,006 92 % $ 25,280 92 % Non-Traditional (1) 2,030 8 2,235 8 Total $ 25,036 100 % $ 27,515 100 % Cosigners: With cosigner $ 16,107 64 % $ 17,738 64 % Without cosigner 8,929 36 9,777 36 Total $ 25,036 100 % $ 27,515 100 % Seasoning (2) : 1-12 payments $ 1,348 5 % $ 1,776 7 % 13-24 payments 1,430 6 1,977 7 25-36 payments 2,234 9 2,982 11 37-48 payments 3,172 13 3,787 14 More than 48 payments 15,313 61 14,953 54 Not yet in repayment 1,539 6 2,040 7 Total $ 25,036 100 % $ 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 September 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 6,492 $ 8,257 Loans in forbearance (2) 10,530 13,298 Loans in repayment and percentage of each status: Loans current 64,078 88.7 % 62,651 84.7 % Loans delinquent 31-60 days (3) 2,462 3.4 3,285 4.5 Loans delinquent 61-90 days (3) 818 1.1 1,856 2.5 Loans delinquent greater than 90 days (3) 4,911 6.8 6,142 8.3 Total FFELP Loans in repayment 72,269 100 % 73,934 100 % Total FFELP Loans, gross 89,291 95,489 FFELP Loan unamortized premium 913 1,087 Total FFELP Loans 90,204 96,576 FFELP Loan allowance for losses (58 ) (78 ) FFELP Loans, net $ 90,146 $ 96,498 Percentage of FFELP Loans in repayment 80.9 % 77.4 % Delinquencies as a percentage of FFELP Loans in repayment 11.3 % 15.3 % FFELP Loans in forbearance as a percentage of loans in repayment and forbearance 12.7 % 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 September 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 1,405 $ 1,859 Loans in forbearance (2) 833 863 Loans in repayment and percentage of each status: Loans current 19,471 93.8 % 21,085 93.5 % Loans delinquent 31-60 days (3) 434 2.1 491 2.2 Loans delinquent 61-90 days (3) 262 1.3 292 1.3 Loans delinquent greater than 90 days (3) 601 2.8 690 3.0 Total traditional loans in repayment 20,768 100 % 22,558 100 % Total traditional loans, gross 23,006 25,280 Traditional loans unamortized discount (407 ) (470 ) Total traditional loans 22,599 24,810 Traditional loans receivable for partially charged-off loans 532 560 Traditional loans allowance for losses (1,176 ) (1,236 ) Traditional loans, net $ 21,955 $ 24,134 Percentage of traditional loans in repayment 90.3 % 89.2 % Delinquencies as a percentage of traditional loans in repayment 6.2 % 6.5 % Loans in forbearance as a percentage of loans in repayment and forbearance 3.9 % 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 September 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 134 $ 181 Loans in forbearance (2) 108 110 Loans in repayment and percentage of each status: Loans current 1,539 86.1 % 1,646 84.7 % Loans delinquent 31-60 days (3) 73 4.1 86 4.4 Loans delinquent 61-90 days (3) 52 2.9 56 2.9 Loans delinquent greater than 90 days (3) 124 6.9 156 8.0 Total non-traditional loans in repayment 1,788 100 % 1,944 100 % Total non-traditional loans, gross 2,030 2,235 Non-traditional loans unamortized discount (55 ) (61 ) Total non-traditional loans 1,975 2,174 Non-traditional loans receivable for partially charged-off loans 296 321 Non-traditional loans allowance for losses (216 ) (235 ) Non-traditional loans, net $ 2,055 $ 2,260 Percentage of non-traditional loans in repayment 88.1 % 87.0 % Delinquencies as a percentage of non-traditional loans in repayment 13.9 % 15.3 % Loans in forbearance as a percentage of loans in repayment and forbearance 5.7 % 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 Nine Months Ended (Dollars in millions) 2016 2015 2016 2015 Receivable at beginning of period $ 847 $ 902 $ 881 $ 1,245 Expected future recoveries of current period defaults (1) 28 38 96 147 Recoveries (2) (47 ) (48 ) (149 ) (151 ) Net adjustment resulting from the change in the charge-off rate (3) — — — (330 ) Net charge-offs remaining — — — (19 ) Total net charge-offs — — — (349 ) Receivable at end of period $ 828 $ 892 $ 828 $ 892 (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 59 percent and 56 percent of the loans granted forbearance have qualified as a TDR loan at September 30, 2016 and December 31, 2015, respectively. The unpaid principal balance of TDR loans that were in an interest rate reduction plan as of September 30, 2016 and December 31, 2015 was $2.7 billion and $2.5 billion, respectively. At September 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 September 30, 2016 Private Education Loans — Traditional $ 9,391 $ 9,434 $ 959 Private Education Loans — Non-Traditional 1,394 1,398 194 Total $ 10,785 $ 10,832 $ 1,153 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 September 30, 2016 2015 (Dollars in millions) Average Interest Average Interest Private Education Loans — Traditional $ 9,367 $ 140 $ 8,988 $ 134 Private Education Loans — Non-Traditional 1,402 27 1,456 29 Total $ 10,769 $ 167 $ 10,444 $ 163 Nine Months Ended September 30, 2016 2015 (Dollars in millions) Average Interest Average Interest Private Education Loans — Traditional $ 9,303 $ 416 $ 8,930 $ 402 Private Education Loans — Non-Traditional 1,418 81 1,466 86 Total $ 10,721 $ 497 $ 10,396 $ 488 The following table provides information regarding the loan status and aging of TDR loans that are past due. TDR Loan Delinquencies September 30, 2016 December 31, 2015 (Dollars in millions) Balance % Balance % Loans in deferment (1) $ 605 $ 706 Loans in forbearance (2) 669 695 Loans in repayment and percentage of each status: Loans current 8,299 86.8 % 7,885 85.3 % Loans delinquent 31-60 days (3) 394 4.1 414 4.5 Loans delinquent 61-90 days (3) 254 2.7 263 2.8 Loans delinquent greater than 90 days (3) 611 6.4 679 7.4 Total TDR loans in repayment 9,558 100 % 9,241 100 % Total TDR loans, gross $ 10,832 $ 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 September 30, 2016 2015 (Dollars in millions) Modified (1) Charge- (2) Payment Modified (1) Charge- (2) Payment Private Education Loans — Traditional $ 233 $ 68 $ 56 $ 339 $ 81 $ 83 Private Education Loans — Non-Traditional 21 18 11 32 26 15 Total $ 254 $ 86 $ 67 $ 371 $ 107 $ 98 Nine Months Ended September 30, 2016 2015 (Dollars in millions) Modified (1) Charge- (2) Payment Modified (1) Charge- (2) Payment Private Education Loans — Traditional $ 861 $ 221 $ 174 $ 1,107 $ 273 $ 266 Private Education Loans — Non-Traditional 73 61 32 111 84 47 Total $ 934 $ 282 $ 206 $ 1,218 $ 357 $ 313 (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. The table also discloses the amount of accrued interest on loans greater than 90 days past due as compared to our allowance for uncollectible interest. (Dollars in millions) Accrued Greater Than Allowance for September 30, 2016 Private Education Loans — Traditional $ 374 $ 23 $ 26 Private Education Loans — Non-Traditional 48 7 7 Total $ 422 $ 30 $ 33 December 31, 2015 Private Education Loans — Traditional $ 433 $ 27 $ 26 Private Education Loans — Non-Traditional 57 8 9 Total $ 490 $ 35 $ 35

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Borrowings	3. Borrowings The following table summarizes our borrowings. September 30, 2016 December 31, 2015 (Dollars in millions) Short Long Total Short Long Total Unsecured borrowings: Senior unsecured debt $ 1,456 $ 13,038 $ 14,494 $ 1,120 $ 13,976 $ 15,096 Total unsecured borrowings 1,456 13,038 14,494 1,120 13,976 15,096 Secured borrowings: FFELP Loan securitizations — 74,269 74,269 — 77,764 77,764 Private Education Loan securitizations (1) — 15,402 15,402 — 16,900 16,900 FFELP Loan — other facilities — 13,582 13,582 — 16,276 16,276 Private Education Loan — other facilities 344 — 344 710 — 710 Other (2) 837 — 837 760 — 760 Total secured borrowings 1,181 103,253 104,434 1,470 110,940 112,410 Total before hedge accounting adjustments 2,637 116,291 118,928 2,590 124,916 127,506 Hedge accounting adjustments — 249 249 (20 ) (83 ) (103 ) Total $ 2,637 $ 116,540 $ 119,177 $ 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 September 30, 2016 and December 31, 2015, respectively. (2) “Other” primarily includes the obligation to return cash collateral held related to derivative exposures. Variable Interest Entities We consolidated the following financing VIEs as of September 30, 2016 and December 31, 2015, as we are the primary beneficiary. As a result, these VIEs are accounted for as secured borrowings. September 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 $ — $ 74,269 $ 74,269 $ 74,813 $ 2,723 $ 784 $ 78,320 Private Education Loan securitizations (1) — 15,402 15,402 20,505 447 282 21,234 FFELP Loan — other facilities — 10,071 10,071 10,266 258 172 10,696 Private Education Loan — other facilities 344 — 344 520 8 16 544 Other 37 — 37 46 1 (1 ) 46 Total before hedge accounting adjustments 381 99,742 100,123 106,150 3,437 1,253 110,840 Hedge accounting adjustments — (715 ) (715 ) — — (700 ) (700 ) Total $ 381 $ 99,027 $ 99,408 $ 106,150 $ 3,437 $ 553 $ 110,140 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 September 30, 2016 and December 31, 2015, respectively, and $59 million and $41 million of restricted cash related to the Repurchase Facility as of September 30, 2016 and December 31, 2015, respectively.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 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 September 30, 2016 and December 31, 2015, and their impact on other comprehensive income and earnings for the three and nine months ended September 30, 2016 and 2015. Impact of Derivatives on Consolidated Balance Sheet Cash Flow Fair Value Trading Total (Dollars in millions) Hedged Risk Sept. 30, Dec. 31, Sept. 30, Dec. 31, Sept. 30, Dec. 31, Sept. 30, Dec. 31, Fair Values (1) Derivative Assets: Interest rate swaps Interest rate $ — $ — $ 857 $ 694 $ 73 $ 32 $ 930 $ 726 Cross-currency interest rate swaps Foreign currency — — 18 2 — — 18 2 Other (2) Interest rate — — — — 1 — 1 — Total derivative assets (3) — — 875 696 74 32 949 728 Derivative Liabilities: Interest rate swaps Interest rate (207 ) (89 ) — (3 ) (65 ) (68 ) (272 ) (160 ) Floor Income Contracts Interest rate — — — — (293 ) (365 ) (293 ) (365 ) Cross-currency interest rate swaps Foreign currency — — (731 ) (926 ) (11 ) (62 ) (742 ) (988 ) Other (2) Interest rate — — — — (11 ) (2 ) (11 ) (2 ) Total derivative liabilities (3) (207 ) (89 ) (731 ) (929 ) (380 ) (497 ) (1,318 ) (1,515 ) Net total derivatives $ (207 ) $ (89 ) $ 144 $ (233 ) $ (306 ) $ (465 ) $ (369 ) $ (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) September 30, December 31, September 30, December 31, Gross position $ 949 $ 728 $ (1,318 ) $ (1,515 ) Impact of master netting agreements (19 ) (50 ) 19 50 Derivative values with impact of master netting agreements (as carried on balance sheet) 930 678 (1,299 ) (1,465 ) Cash collateral (held) pledged (425 ) (759 ) 407 466 Net position $ 505 $ (81 ) $ (892 ) $ (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 September 30, 2016 and December 31, 2015 by $3 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 September 30, 2016 and December 31, 2015 by $30 million and $31 million, respectively. Cash Flow Fair Value Trading Total (Dollars in billions) Sept. 30, Dec. 31, Sept. 30, Dec. 31, Sept. 30, Dec. 31, Sept. 30, Dec. 31, 2015 Notional Values: Interest rate swaps $ 14.7 $ 9.5 $ 12.2 $ 12.6 $ 29.0 $ 33.8 $ 55.9 $ 55.9 Floor Income Contracts — — — — 16.5 35.1 16.5 35.1 Cross-currency interest rate swaps — — 8.6 9.1 .3 .3 8.9 9.4 Other (1) — — — — 3.0 3.2 3.0 3.2 Total derivatives $ 14.7 $ 9.5 $ 20.8 $ 21.7 $ 48.8 $ 72.4 $ 84.3 $ 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 September 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 $ (149 ) $ 209 $ 62 $ 83 $ 175 $ (234 ) $ 88 $ 58 Cross-currency interest rate swaps 112 (6 ) (22 ) (1 ) (81 ) 35 9 28 Total fair value derivatives (37 ) 203 40 82 94 (199 ) 97 86 Cash Flow Hedges: Interest rate swaps — — (20 ) — — — (20 ) — Total cash flow derivatives — — (20 ) — — — (20 ) — Trading: Interest rate swaps (20 ) 82 14 10 — — (6 ) 92 Floor Income Contracts 113 69 (28 ) (164 ) — — 85 (95 ) Cross-currency interest rate swaps 6 7 (1 ) (1 ) — — 5 6 Other (3 ) 13 (1 ) — — — (4 ) 13 Total trading derivatives 96 171 (16 ) (155 ) — — 80 16 Total 59 374 4 (73 ) 94 (199 ) 157 102 Less: realized gains (losses) recorded in interest expense — — 20 82 — — 20 82 Gains (losses) on derivative and hedging activities, net $ 59 $ 374 $ (16 ) $ (155 ) $ 94 $ (199 ) $ 137 $ 20 (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.” Nine Months Ended September 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 $ 166 $ 95 $ 201 $ 265 $ (172 ) $ (111 ) $ 195 $ 249 Cross-currency interest rate swaps 210 (547 ) (58 ) 3 (135 ) 682 17 138 Total fair value derivatives 376 (452 ) 143 268 (307 ) 571 212 387 Cash Flow Hedges: Interest rate swaps — — (31 ) — — — (31 ) — Total cash flow derivatives — — (31 ) — — — (31 ) — Trading: Interest rate swaps 44 94 35 30 — — 79 124 Floor Income Contracts 147 312 (222 ) (489 ) — — (75 ) (177 ) Cross-currency interest rate swaps 51 3 (3 ) (3 ) — — 48 — Other (8 ) 9 (2 ) (2 ) — — (10 ) 7 Total trading derivatives 234 418 (192 ) (464 ) — — 42 (46 ) Total 610 (34 ) (80 ) (196 ) (307 ) 571 223 341 Less: realized gains (losses) recorded in interest expense — — 112 268 — — 112 268 Gains (losses) on derivative and hedging activities, net $ 610 $ (34 ) $ (192 ) $ (464 ) $ (307 ) $ 571 $ 111 $ 73 (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) September 30, December 31, Collateral held: Cash (obligation to return cash collateral is recorded in short-term borrowings) (1) $ 425 $ 759 Securities at fair value — corporate derivatives (not recorded in the financial statements) (2) 376 — Securities at fair value — on-balance sheet securitization derivatives (not recorded in financial statements) (3) 394 301 Total collateral held $ 1,195 $ 1,060 Derivative asset at fair value including accrued interest $ 1,062 $ 896 Collateral pledged to others: Cash (right to receive return of cash collateral is recorded in investments) $ 407 $ 466 Total collateral pledged $ 407 $ 466 Derivative liability at fair value including accrued interest and premium receivable $ 1,343 $ 1,395 (1) At September 30, 2016 and December 31, 2015, $0 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 $594 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	9 Months Ended
	Sep. 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) September 30, December 31, Accrued interest receivable, net $ 1,548 $ 1,646 Derivatives at fair value 930 678 Income tax asset, net current and deferred 773 906 Benefit and insurance-related investments 486 491 Fixed assets, net 156 162 Accounts receivable 104 329 Other loans, net 116 70 Other 478 400 Total $ 4,591 $ 4,682

Business Combinations - Acquisi

Business Combinations - Acquisition of Gila LLC and Xtend Healthcare	9 Months Ended
	Sep. 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. 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. Navient has not disclosed the pro forma impact of this acquisition to the results of operations for the nine months ended September 30, 2015, as the pro forma impact was deemed immaterial. 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. Navient has not disclosed the pro forma impact of this acquisition to the results of operations for the three and nine months ended September 30, 2015, as the pro forma impact was deemed immaterial. 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	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Stockholders' Equity	7. Stockholders’ Equity The following table summarizes common share repurchases and issuances. Three Months Ended Nine Months Ended 2016 2015 2016 2015 Common shares repurchased (1) 14,347,974 12,075,388 47,137,636 41,919,908 Average purchase price per share $ 13.95 $ 14.51 $ 12.21 $ 18.50 Shares repurchased related to employee stock-based compensation plans (2) 1,145,017 211,829 2,499,729 2,287,761 Average purchase price per share $ 14.20 $ 15.46 $ 12.36 $ 20.17 Common shares issued (3) 1,558,455 563,109 4,525,047 4,781,517 (1) Common shares purchased under our share repurchase program. (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 September 30, 2016 was $14.47. Dividend and Share Repurchase Program In September 2016, June 2016 and March 2016, we paid a common stock dividend of $0.16 per share. We repurchased 47.1 million shares of common stock for $575 million in the nine months ended September 30, 2016. The shares were repurchased under our previously disclosed share repurchase program. As of September 30, 2016, the remaining repurchase authority was $180 million. In the nine months ended September 30, 2015, we repurchased 41.9 million shares for $775 million.

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Sep. 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 Nine Months Ended (In millions, except per share data) 2016 2015 2016 2015 Numerator: Net income attributable to Navient Corporation $ 230 $ 237 $ 535 $ 711 Denominator: Weighted average shares used to compute basic EPS 310 369 324 382 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 5 7 Dilutive potential common shares (2) 6 6 5 7 Weighted average shares used to compute diluted EPS 316 375 329 389 Basic earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .74 $ .64 $ 1.65 $ 1.86 Discontinued operations — — — — Total $ .74 $ .64 $ 1.65 $ 1.86 Diluted earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .73 $ .63 $ 1.63 $ 1.83 Discontinued operations — — — — Total $ .73 $ .63 $ 1.63 $ 1.83 (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 September 30, 2016 and 2015, stock options covering approximately 4 million and 6 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive. For the nine months ended September 30, 2016 and 2015, stock options covering approximately 5 million and 4 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 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 nine months ended September 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 September 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 — 904 26 930 — 709 17 726 Cross-currency interest rate swaps — — 18 18 — — 2 2 Other — — 1 1 — — — — Total derivative assets (3) — 904 45 949 — 709 19 728 Total $ — $ 908 $ 45 $ 953 $ — $ 714 $ 19 $ 733 Liabilities (2) Derivative instruments (1) Interest rate swaps $ — $ (207 ) $ (65 ) $ (272 ) $ — $ (99 ) $ (61 ) $ (160 ) Floor Income Contracts — (293 ) — (293 ) — (365 ) — (365 ) Cross-currency interest rate swaps — (10 ) (732 ) (742 ) — (83 ) (905 ) (988 ) Other — — (11 ) (11 ) — — (2 ) (2 ) Total derivative liabilities (3) — (510 ) (808 ) (1,318 ) — (547 ) (968 ) (1,515 ) Total $ — $ (510 ) $ (808 ) $ (1,318 ) $ — $ (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 September 30, 2016 2015 Derivative instruments Derivative instruments (Dollars in millions) Interest Cross Other Total Interest Cross Other Total Balance, beginning of period $ (37 ) $ (801 ) $ (7 ) $ (845 ) $ (82 ) $ (654 ) $ (15 ) $ (751 ) Total gains/(losses) (realized and unrealized): Included in earnings (1) (2 ) 64 (4 ) 58 40 (5 ) 13 48 Included in other comprehensive income — — — — — — — — Settlements — 23 1 24 3 3 — 6 Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (39 ) $ (714 ) $ (10 ) $ (763 ) $ (39 ) $ (656 ) $ (2 ) $ (697 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ (2 ) $ 87 $ (3 ) $ 82 $ 37 $ (2 ) $ 13 $ 48 Nine Months Ended September 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) 4 129 (10 ) 123 45 (538 ) 6 (487 ) Included in other comprehensive income — — — — — — — — Settlements 1 60 2 63 4 (1 ) 3 6 Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (39 ) $ (714 ) $ (10 ) $ (763 ) $ (39 ) $ (656 ) $ (2 ) $ (697 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ 6 $ 189 $ (8 ) $ 187 $ 42 $ (536 ) $ 9 $ (485 ) (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 Nine Months Ended (Dollars in millions) 2016 2015 2016 2015 Gains (losses) on derivative and hedging activities, net $ 81 $ 50 $ 183 $ (488 ) Interest expense (23 ) (2 ) (60 ) 1 Total $ 58 $ 48 $ 123 $ (487 ) (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 $ 8 Discounted cash flow Bid/ask adjustment to discount rate .02% — .05% (.05%) Prime/LIBOR basis swaps (47 ) Discounted cash flow Constant prepayment rate 6.2% Bid/ask adjustment to discount rate .03% — .05% (.05%) Cross-currency interest rate swaps (714 ) Discounted cash flow Constant prepayment rate 2.8% Other (10 ) Total $ (763 ) 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. September 30, 2016 December 31, 2015 (Dollars in millions) Fair Carrying Difference Fair Carrying Difference Earning assets FFELP Loans $ 88,765 $ 90,146 $ (1,381 ) $ 94,377 $ 96,498 $ (2,121 ) Private Education Loans 23,698 24,010 (312 ) 25,772 26,394 (622 ) Cash and investments (1) 5,882 5,882 — 5,833 5,833 — Total earning assets 118,345 120,038 (1,693 ) 125,982 128,725 (2,743 ) Interest-bearing liabilities Short-term borrowings 2,648 2,637 (11 ) 2,569 2,570 1 Long-term borrowings 112,258 116,540 4,282 118,471 124,833 6,362 Total interest-bearing liabilities 114,906 119,177 4,271 121,040 127,403 6,363 Derivative financial instruments Floor Income Contracts (293 ) (293 ) — (365 ) (365 ) — Interest rate swaps 658 658 — 566 566 — Cross-currency interest rate swaps (724 ) (724 ) — (986 ) (986 ) — Other (10 ) (10 ) — (2 ) (2 ) — Excess of net asset fair value over carrying value $ 2,578 $ 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 September 30, 2016 and December 31, 2015, respectively, versus a fair value of $4 million and $5 million at September 30, 2016 and December 31, 2015, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 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 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 September 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 or regulation by the SEC, 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 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 September 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. In August 2016, we filed our notice of appeal relating to this Final Audit Determination to the Administrative Actions and Appeals Service Group of ED. This matter remains open. 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 and does not believe, at this time, that an adverse ruling would have a material effect on the Company as a whole. 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	9 Months Ended
	Sep. 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) September 30, December 31, FFELP Loans, net $ 90,146 $ 96,498 Cash and investments (1) 3,260 3,572 Other 1,954 2,015 Total assets $ 95,360 $ 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) September 30, December 31, Private Education Loans, net $ 24,010 $ 26,394 Cash and investments (1) 713 596 Other 1,946 1,988 Total assets $ 26,669 $ 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 September 30, 2016 and December 31, 2015, the Business Services segment had total assets of $638 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 September 30, 2016 and December 31, 2015, the Other segment had total assets of $2.6 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 (SLM BankCo) 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 September 30, 2016 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 617 $ 401 $ — $ — $ — $ 1,018 $ 28 $ (14 ) $ 14 $ 1,032 Other loans — — — 2 — 2 — — — 2 Cash and investments 4 — — 1 — 5 — — — 5 Total interest income 621 401 — 3 — 1,025 28 (14 ) 14 1,039 Total interest expense 413 178 — 29 — 620 7 — 7 627 Net interest income (loss) 208 223 — (26 ) — 405 21 (14 ) 7 412 Less: provisions for loan losses 13 92 — 1 — 106 — — — 106 Net interest income (loss) after provisions for loan losses 195 131 — (27 ) — 299 21 (14 ) 7 306 Other income (loss): Servicing revenue 13 4 155 — (96 ) 76 — — — 76 Asset recovery and business processing revenue — — 97 — — 97 — — — 97 Other income (loss) — — — 5 — 5 (21 ) 153 132 137 Gains on debt repurchases — — — 1 — 1 — — — 1 Total other income (loss) 13 4 252 6 (96 ) 179 (21 ) 153 132 311 Expenses: Direct operating expenses 99 40 124 10 (96 ) 177 — — — 177 Overhead expenses — — — 51 — 51 — — — 51 Operating expenses 99 40 124 61 (96 ) 228 — — — 228 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 12 12 12 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 99 40 124 61 (96 ) 228 — 12 12 240 Income (loss) from continuing operations, before income tax expense (benefit) 109 95 128 (82 ) — 250 — 127 127 377 Income tax expense (benefit) (3) 40 35 47 (29 ) — 93 — 54 54 147 Net income (loss) from continuing operations 69 60 81 (53 ) — 157 — 73 73 230 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 69 $ 60 $ 81 $ (53 ) $ — $ 157 $ — $ 73 $ 73 $ 230 (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 September 30, 2016 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 7 $ — $ 7 Total other income (loss) — 132 — 132 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 12 12 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ 139 $ (12 ) 127 Income tax expense (benefit) 54 Net income (loss) $ 73 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Three Months Ended September 30, 2015 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 526 $ 444 $ — $ — $ — $ 970 $ 164 $ (60 ) $ 104 $ 1,074 Other loans — — — 1 — 1 — — — 1 Cash and investments 2 — — — — 2 — — — 2 Total interest income 528 444 — 1 — 973 164 (60 ) 104 1,077 Total interest expense 317 170 — 26 — 513 11 — 11 524 Net interest income (loss) 211 274 — (25 ) — 460 153 (60 ) 93 553 Less: provisions for loan losses 7 117 — (1 ) — 123 — — — 123 Net interest income (loss) after provisions for loan losses 204 157 — (24 ) — 337 153 (60 ) 93 430 Other income (loss): Servicing revenue 16 5 161 — (106 ) 76 — — — 76 Asset recovery and business processing revenue — — 85 — — 85 — — — 85 Other income (loss) — — 2 3 — 5 (153 ) 168 15 20 Gains on debt repurchases — — — — — — — — — — Total other income (loss) 16 5 248 3 (106 ) 166 (153 ) 168 15 181 Expenses: Direct operating expenses 109 39 123 9 (106 ) 174 — — — 174 Overhead expenses — — — 54 — 54 — — — 54 Operating expenses 109 39 123 63 (106 ) 228 — — — 228 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 3 3 3 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 109 39 123 63 (106 ) 228 — 3 3 231 Income (loss) from continuing operations, before income tax expense (benefit) 111 123 125 (84 ) — 275 — 105 105 380 Income tax expense (benefit) (3) 41 46 46 (31 ) — 102 — 42 42 144 Net income (loss) from continuing operations 70 77 79 (53 ) — 173 — 63 63 236 Income from discontinued operations, net of tax expense — — — 1 — 1 — — — 1 Net income (loss) $ 70 $ 77 $ 79 $ (52 ) $ — $ 174 $ — $ 63 $ 63 $ 237 (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 September 30, 2015 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 93 $ — $ 93 Total other income (loss) — 15 — 15 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 3 3 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ 108 $ (3 ) 105 Income tax expense (benefit) 42 Net income (loss) $ 63 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Nine Months Ended September 30, 2016 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 1,760 $ 1,213 $ — $ — $ — $ 2,973 $ 222 $ (99 ) $ 123 $ 3,096 Other loans — — — 5 — 5 — — — 5 Cash and investments 12 2 — 3 — 17 — — — 17 Total interest income 1,772 1,215 — 8 — 2,995 222 (99 ) 123 3,118 Total interest expense 1,159 522 — 85 — 1,766 25 — 25 1,791 Net interest income (loss) 613 693 — (77 ) — 1,229 197 (99 ) 98 1,327 Less: provisions for loan losses 30 296 — 1 — 327 — — — 327 Net interest income (loss) after provisions for loan losses 583 397 — (78 ) — 902 197 (99 ) 98 1,000 Other income (loss): Servicing revenue 45 11 470 — (296 ) 230 — — — 230 Asset recovery and business processing revenue — — 288 — — 288 — — — 288 Other income (loss) — — 2 10 — 12 (197 ) 260 63 75 Gains on debt repurchases — — — 1 — 1 — — — 1 Total other income (loss) 45 11 760 11 (296 ) 531 (197 ) 260 63 594 Expenses: Direct operating expenses 305 124 383 22 (296 ) 538 — — — 538 Overhead expenses — — — 168 — 168 — — — 168 Operating expenses 305 124 383 190 (296 ) 706 — — — 706 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 22 22 22 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 305 124 383 190 (296 ) 706 — 22 22 728 Income (loss) from continuing operations, before income tax expense (benefit) 323 284 377 (257 ) — 727 — 139 139 866 Income tax expense (benefit) (3) 120 105 140 (96 ) — 269 — 62 62 331 Net income (loss) from continuing operations 203 179 237 (161 ) — 458 — 77 77 535 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 203 $ 179 $ 237 $ (161 ) $ — $ 458 $ — $ 77 $ 77 $ 535 (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: Nine Months Ended September 30, 2016 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 98 $ — $ 98 Total other income (loss) — 63 — 63 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 22 22 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ 161 $ (22 ) 139 Income tax expense (benefit) 62 Net income (loss) $ 77 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Nine Months Ended September 30, 2015 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassifi- cations Additions/ Total (2) Interest income: Education loans $ 1,581 $ 1,335 $ — $ — $ — $ 2,916 $ 489 $ (178 ) $ 311 $ 3,227 Other loans — — — 5 — 5 — — — 5 Cash and investments 5 — — 1 — 6 — — — 6 Total interest income 1,586 1,335 — 6 — 2,927 489 (178 ) 311 3,238 Total interest expense 928 514 — 84 — 1,526 27 — 27 1,553 Net interest income (loss) 658 821 — (78 ) — 1,401 462 (178 ) 284 1,685 Less: provisions for loan losses 19 428 — (1 ) — 446 — — — 446 Net interest income (loss) after provisions for loan losses 639 393 — (77 ) — 955 462 (178 ) 284 1,239 Other income (loss): Servicing revenue 78 17 487 — (324 ) 258 — — — 258 Asset recovery and business processing revenue — — 273 — — 273 — — — 273 Other income (loss) — — 4 11 — 15 (462 ) 535 73 88 Gains on sales of loans and investments 12 — — — — 12 — — — 12 Gains on debt repurchases — — — — — — — — — — Total other income (loss) 90 17 764 11 (324 ) 558 (462 ) 535 73 631 Expenses: Direct operating expenses 336 127 355 20 (324 ) 514 — — — 514 Overhead expenses — — — 169 — 169 — — — 169 Operating expenses 336 127 355 189 (324 ) 683 — — — 683 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 7 7 7 Restructuring and other reorganization expenses — — — — — — — 32 32 32 Total expenses 336 127 355 189 (324 ) 683 — 39 39 722 Income (loss) from continuing operations, before income tax expense (benefit) 393 283 409 (255 ) — 830 — 318 318 1,148 Income tax expense (benefit) (3) 146 105 152 (95 ) — 308 — 130 130 438 Net income (loss) from continuing operations 247 178 257 (160 ) — 522 — 188 188 710 Income from discontinued operations, net of tax expense — — — 1 — 1 — — — 1 Net income (loss) $ 247 $ 178 $ 257 $ (159 ) $ — $ 523 $ — $ 188 $ 188 $ 711 (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: Nine Months Ended September 30, 2015 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 284 $ — $ 284 Total other income (loss) — 73 — 73 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 7 7 Restructuring and other reorganization expenses 32 — — 32 Total “Core Earnings” adjustments to GAAP $ (32 ) $ 357 $ (7 ) 318 Income tax expense (benefit) 130 Net income (loss) $ 188 (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 Nine 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) $ — $ — $ — $ (32 ) Net impact of derivative accounting (2) 139 108 161 357 Net impact of goodwill and acquired intangibles assets (3) (12 ) (3 ) (22 ) (7 ) Net tax effect (4) (54 ) (42 ) (62 ) (130 ) Total “Core Earnings” adjustments to GAAP $ 73 $ 63 $ 77 $ 188 (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)	9 Months Ended
	Sep. 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 nine months ended September 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 nine months ended September 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 the Company as of January 1, 2018. 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 the Company as of January 1, 2019. 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 as of January 1, 2017. 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 as of 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.
Education Loan Interest Income	Education Loan Interest Income The Company has a net unamortized premium balance of $451 million in connection with its $115 billion education loan portfolio as of September 30, 2016. In the third quarter of 2016, the Company corrected its policy for applying the interest method used to amortize premium and discounts on the education loan portfolio. Previously, the Company amortized premium and discounts by including in its prepayment assumption forecasted payments in excess of contractually required payments as well as forecasted defaults and term extensions (deferment and forbearance or other payment modification programs). We have determined that only payments in excess of contractually required payments should be included in the prepayment assumption. Including defaults in estimated future prepayments has the effect of accelerating the amortization of the net premium balance related to our education loan portfolio. Including term extensions in estimated future prepayments has the effect of slowing down the amortization of the net premium balance related to our education loan portfolio. We believe this correction makes us more comparable to how others apply the interest method. The net impact of this error is currently estimated to be a $2 million reduction to our $451 million net unamortized premium balance as of September 30, 2016. The Constant Prepayment Rates (“CPR”) as of September 30, 2016 under our revised policy are 5 percent, 3 percent and 5 percent for FFELP Stafford Loans, FFELP Consolidation Loans and Private Education Loans, respectively. Our prior policy’s CPRs as of September 30, 2016 would have been 5 percent, 3 percent and 6 percent for FFELP Stafford Loans, FFELP Consolidation Loans and Private Education Loans, respectively. We have concluded this error has an immaterial impact to 2016 results as well as results for prior years. Because the estimated $2 million reduction to the net premium balance (a $1 million reduction to net income) is immaterial, the Company will record such adjustment in the fourth quarter of 2016 once the updated prepayment rates have been finalized. We do not expect the final impact to be materially different than the $1 million reduction to net income currently estimated.

Allowance for Loan Losses (Tabl

Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2016
Allowance for Credit Losses and Recorded Investments in Loans	Allowance for Loan Losses Metrics Three Months Ended September 30, 2016 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 62 $ 1,410 $ 15 $ 1,487 Total provision 13 92 1 106 Charge-offs (1) (17 ) (112 ) (1 ) (130 ) Reclassification of interest reserve (2) — 2 — 2 Ending balance $ 58 $ 1,392 $ 15 $ 1,465 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,153 $ 11 $ 1,164 Ending balance: collectively evaluated for impairment $ 58 $ 239 $ 4 $ 301 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,182 $ 32 $ 11,214 Ending balance: collectively evaluated for impairment (3) $ 89,291 $ 14,682 $ 99 $ 104,072 Charge-offs as a percentage of average loans in repayment (annualized) .09 % 1.94 % 1.87 % Allowance coverage of charge-offs (annualized) .8 3.1 7.9 Allowance as a percentage of the ending total loan balance .07 % 5.38 % 11.40 % Allowance as a percentage of the ending loans in repayment .08 % 6.17 % 11.40 % Ending total loans (3) $ 89,291 $ 25,864 $ 131 Average loans in repayment $ 72,921 $ 22,959 $ 102 Ending loans in repayment $ 72,269 $ 22,556 $ 131 (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 September 30, 2015 (Dollars in millions) FFELP Loans Private Education Other Total Allowance for Loan Losses Beginning balance $ 89 $ 1,533 $ 21 $ 1,643 Total provision 7 117 (1 ) 123 Total net charge-offs (1) (12 ) (148 ) (1 ) (161 ) Reclassification of interest reserve (2) — 3 — 3 Ending balance $ 84 $ 1,505 $ 19 $ 1,608 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,247 $ 16 $ 1,263 Ending balance: collectively evaluated for impairment $ 84 $ 258 $ 3 $ 345 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 10,870 $ 41 $ 10,911 Ending balance: collectively evaluated for impairment (3) $ 97,425 $ 18,507 $ 50 $ 115,982 Net charge-offs as a percentage of average loans in repayment (annualized) .06 % 2.31 % 5.10 % Allowance coverage of net charge-offs (annualized) 1.7 2.6 3.9 Allowance as a percentage of the ending total loan balance .09 % 5.12 % 20.31 % Allowance as a percentage of the ending loans in repayment .11 % 5.99 % 20.31 % Ending total loans (3) $ 97,425 $ 29,377 $ 91 Average loans in repayment $ 75,460 $ 25,546 $ 93 Ending loans in repayment $ 75,294 $ 25,104 $ 91 (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. Nine Months Ended September 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 30 296 1 327 Charge-offs (1) (50 ) (383 ) (1 ) (434 ) Reclassification of interest reserve (2) — 8 — 8 Ending balance $ 58 $ 1,392 $ 15 $ 1,465 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,153 $ 11 $ 1,164 Ending balance: collectively evaluated for impairment $ 58 $ 239 $ 4 $ 301 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,182 $ 32 $ 11,214 Ending balance: collectively evaluated for impairment (3) $ 89,291 $ 14,682 $ 99 $ 104,072 Charge-offs as a percentage of average loans in repayment (annualized) .09 % 2.17 % 1.76 % Allowance coverage of charge-offs (annualized) .9 2.7 9.5 Allowance as a percentage of the ending total loan balance .07 % 5.38 % 11.40 % Allowance as a percentage of the ending loans in repayment .08 % 6.17 % 11.40 % Ending total loans (3) $ 89,291 $ 25,864 $ 131 Average loans in repayment $ 73,193 $ 23,564 $ 89 Ending loans in repayment $ 72,269 $ 22,556 $ 131 (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. Nine Months Ended September 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 19 428 (1 ) 446 Net adjustment resulting from the change in the charge-off rate (1) — (330 ) — (330 ) Net charge-offs remaining (2) (28 ) (517 ) (4 ) (549 ) Total net charge-offs (28 ) (847 ) (4 ) (879 ) Reclassification of interest reserve (3) — 8 — 8 Ending balance $ 84 $ 1,505 $ 19 $ 1,608 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,247 $ 16 $ 1,263 Ending balance: collectively evaluated for impairment $ 84 $ 258 $ 3 $ 345 Loans: Ending balance: individually evaluated for impairment (4) $ — $ 10,870 $ 41 $ 10,911 Ending balance: collectively evaluated for impairment (4) $ 97,425 $ 18,507 $ 50 $ 115,982 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 % 2.65 % 5.72 % Net adjustment resulting from the change in the charge-off rate as a percentage of average loans in repayment (annualized) (1) — % 1.69 % — % Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) (1) 2.2 2.2 3.3 Allowance as a percentage of the ending total loan balance .09 % 5.12 % 20.31 % Allowance as a percentage of the ending loans in repayment .11 % 5.99 % 20.31 % Ending total loans (4) $ 97,425 $ 29,377 $ 91 Average loans in repayment $ 76,412 $ 26,100 $ 99 Ending loans in repayment $ 75,294 $ 25,104 $ 91 (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 September 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 6,492 $ 8,257 Loans in forbearance (2) 10,530 13,298 Loans in repayment and percentage of each status: Loans current 64,078 88.7 % 62,651 84.7 % Loans delinquent 31-60 days (3) 2,462 3.4 3,285 4.5 Loans delinquent 61-90 days (3) 818 1.1 1,856 2.5 Loans delinquent greater than 90 days (3) 4,911 6.8 6,142 8.3 Total FFELP Loans in repayment 72,269 100 % 73,934 100 % Total FFELP Loans, gross 89,291 95,489 FFELP Loan unamortized premium 913 1,087 Total FFELP Loans 90,204 96,576 FFELP Loan allowance for losses (58 ) (78 ) FFELP Loans, net $ 90,146 $ 96,498 Percentage of FFELP Loans in repayment 80.9 % 77.4 % Delinquencies as a percentage of FFELP Loans in repayment 11.3 % 15.3 % FFELP Loans in forbearance as a percentage of loans in repayment and forbearance 12.7 % 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 September 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 1,405 $ 1,859 Loans in forbearance (2) 833 863 Loans in repayment and percentage of each status: Loans current 19,471 93.8 % 21,085 93.5 % Loans delinquent 31-60 days (3) 434 2.1 491 2.2 Loans delinquent 61-90 days (3) 262 1.3 292 1.3 Loans delinquent greater than 90 days (3) 601 2.8 690 3.0 Total traditional loans in repayment 20,768 100 % 22,558 100 % Total traditional loans, gross 23,006 25,280 Traditional loans unamortized discount (407 ) (470 ) Total traditional loans 22,599 24,810 Traditional loans receivable for partially charged-off loans 532 560 Traditional loans allowance for losses (1,176 ) (1,236 ) Traditional loans, net $ 21,955 $ 24,134 Percentage of traditional loans in repayment 90.3 % 89.2 % Delinquencies as a percentage of traditional loans in repayment 6.2 % 6.5 % Loans in forbearance as a percentage of loans in repayment and forbearance 3.9 % 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 September 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 134 $ 181 Loans in forbearance (2) 108 110 Loans in repayment and percentage of each status: Loans current 1,539 86.1 % 1,646 84.7 % Loans delinquent 31-60 days (3) 73 4.1 86 4.4 Loans delinquent 61-90 days (3) 52 2.9 56 2.9 Loans delinquent greater than 90 days (3) 124 6.9 156 8.0 Total non-traditional loans in repayment 1,788 100 % 1,944 100 % Total non-traditional loans, gross 2,030 2,235 Non-traditional loans unamortized discount (55 ) (61 ) Total non-traditional loans 1,975 2,174 Non-traditional loans receivable for partially charged-off loans 296 321 Non-traditional loans allowance for losses (216 ) (235 ) Non-traditional loans, net $ 2,055 $ 2,260 Percentage of non-traditional loans in repayment 88.1 % 87.0 % Delinquencies as a percentage of non-traditional loans in repayment 13.9 % 15.3 % Loans in forbearance as a percentage of loans in repayment and forbearance 5.7 % 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 September 30, 2016 Private Education Loans — Traditional $ 9,391 $ 9,434 $ 959 Private Education Loans — Non-Traditional 1,394 1,398 194 Total $ 10,785 $ 10,832 $ 1,153 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 September 30, 2016 2015 (Dollars in millions) Average Interest Average Interest Private Education Loans — Traditional $ 9,367 $ 140 $ 8,988 $ 134 Private Education Loans — Non-Traditional 1,402 27 1,456 29 Total $ 10,769 $ 167 $ 10,444 $ 163 Nine Months Ended September 30, 2016 2015 (Dollars in millions) Average Interest Average Interest Private Education Loans — Traditional $ 9,303 $ 416 $ 8,930 $ 402 Private Education Loans — Non-Traditional 1,418 81 1,466 86 Total $ 10,721 $ 497 $ 10,396 $ 488
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 September 30, 2016 2015 (Dollars in millions) Modified (1) Charge- (2) Payment Modified (1) Charge- (2) Payment Private Education Loans — Traditional $ 233 $ 68 $ 56 $ 339 $ 81 $ 83 Private Education Loans — Non-Traditional 21 18 11 32 26 15 Total $ 254 $ 86 $ 67 $ 371 $ 107 $ 98 Nine Months Ended September 30, 2016 2015 (Dollars in millions) Modified (1) Charge- (2) Payment Modified (1) Charge- (2) Payment Private Education Loans — Traditional $ 861 $ 221 $ 174 $ 1,107 $ 273 $ 266 Private Education Loans — Non-Traditional 73 61 32 111 84 47 Total $ 934 $ 282 $ 206 $ 1,218 $ 357 $ 313 (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 September 30, 2016 December 31, 2015 (Dollars in millions) Balance % Balance % Loans in deferment (1) $ 605 $ 706 Loans in forbearance (2) 669 695 Loans in repayment and percentage of each status: Loans current 8,299 86.8 % 7,885 85.3 % Loans delinquent 31-60 days (3) 394 4.1 414 4.5 Loans delinquent 61-90 days (3) 254 2.7 263 2.8 Loans delinquent greater than 90 days (3) 611 6.4 679 7.4 Total TDR loans in repayment 9,558 100 % 9,241 100 % Total TDR loans, gross $ 10,832 $ 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 September 30, 2016 December 31, 2015 (Dollars in millions) Balance (3) % of Balance Balance (3) % of Balance Credit Quality Indicators School Type/FICO Scores: Traditional $ 23,006 92 % $ 25,280 92 % Non-Traditional (1) 2,030 8 2,235 8 Total $ 25,036 100 % $ 27,515 100 % Cosigners: With cosigner $ 16,107 64 % $ 17,738 64 % Without cosigner 8,929 36 9,777 36 Total $ 25,036 100 % $ 27,515 100 % Seasoning (2) : 1-12 payments $ 1,348 5 % $ 1,776 7 % 13-24 payments 1,430 6 1,977 7 25-36 payments 2,234 9 2,982 11 37-48 payments 3,172 13 3,787 14 More than 48 payments 15,313 61 14,953 54 Not yet in repayment 1,539 6 2,040 7 Total $ 25,036 100 % $ 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 Nine Months Ended (Dollars in millions) 2016 2015 2016 2015 Receivable at beginning of period $ 847 $ 902 $ 881 $ 1,245 Expected future recoveries of current period defaults (1) 28 38 96 147 Recoveries (2) (47 ) (48 ) (149 ) (151 ) Net adjustment resulting from the change in the charge-off rate (3) — — — (330 ) Net charge-offs remaining — — — (19 ) Total net charge-offs — — — (349 ) Receivable at end of period $ 828 $ 892 $ 828 $ 892 (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. The table also discloses the amount of accrued interest on loans greater than 90 days past due as compared to our allowance for uncollectible interest. (Dollars in millions) Accrued Greater Than Allowance for September 30, 2016 Private Education Loans — Traditional $ 374 $ 23 $ 26 Private Education Loans — Non-Traditional 48 7 7 Total $ 422 $ 30 $ 33 December 31, 2015 Private Education Loans — Traditional $ 433 $ 27 $ 26 Private Education Loans — Non-Traditional 57 8 9 Total $ 490 $ 35 $ 35

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Company's Borrowings	The following table summarizes our borrowings. September 30, 2016 December 31, 2015 (Dollars in millions) Short Long Total Short Long Total Unsecured borrowings: Senior unsecured debt $ 1,456 $ 13,038 $ 14,494 $ 1,120 $ 13,976 $ 15,096 Total unsecured borrowings 1,456 13,038 14,494 1,120 13,976 15,096 Secured borrowings: FFELP Loan securitizations — 74,269 74,269 — 77,764 77,764 Private Education Loan securitizations (1) — 15,402 15,402 — 16,900 16,900 FFELP Loan — other facilities — 13,582 13,582 — 16,276 16,276 Private Education Loan — other facilities 344 — 344 710 — 710 Other (2) 837 — 837 760 — 760 Total secured borrowings 1,181 103,253 104,434 1,470 110,940 112,410 Total before hedge accounting adjustments 2,637 116,291 118,928 2,590 124,916 127,506 Hedge accounting adjustments — 249 249 (20 ) (83 ) (103 ) Total $ 2,637 $ 116,540 $ 119,177 $ 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 September 30, 2016 and December 31, 2015, respectively. (2) “Other” primarily includes the obligation to return cash collateral held related to derivative exposures.
Financing VIEs	We consolidated the following financing VIEs as of September 30, 2016 and December 31, 2015, as we are the primary beneficiary. As a result, these VIEs are accounted for as secured borrowings. September 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 $ — $ 74,269 $ 74,269 $ 74,813 $ 2,723 $ 784 $ 78,320 Private Education Loan securitizations (1) — 15,402 15,402 20,505 447 282 21,234 FFELP Loan — other facilities — 10,071 10,071 10,266 258 172 10,696 Private Education Loan — other facilities 344 — 344 520 8 16 544 Other 37 — 37 46 1 (1 ) 46 Total before hedge accounting adjustments 381 99,742 100,123 106,150 3,437 1,253 110,840 Hedge accounting adjustments — (715 ) (715 ) — — (700 ) (700 ) Total $ 381 $ 99,027 $ 99,408 $ 106,150 $ 3,437 $ 553 $ 110,140 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 September 30, 2016 and December 31, 2015, respectively, and $59 million and $41 million of restricted cash related to the Repurchase Facility as of September 30, 2016 and December 31, 2015, respectively.

Derivative Financial Instrume23

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 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 Sept. 30, Dec. 31, Sept. 30, Dec. 31, Sept. 30, Dec. 31, Sept. 30, Dec. 31, Fair Values (1) Derivative Assets: Interest rate swaps Interest rate $ — $ — $ 857 $ 694 $ 73 $ 32 $ 930 $ 726 Cross-currency interest rate swaps Foreign currency — — 18 2 — — 18 2 Other (2) Interest rate — — — — 1 — 1 — Total derivative assets (3) — — 875 696 74 32 949 728 Derivative Liabilities: Interest rate swaps Interest rate (207 ) (89 ) — (3 ) (65 ) (68 ) (272 ) (160 ) Floor Income Contracts Interest rate — — — — (293 ) (365 ) (293 ) (365 ) Cross-currency interest rate swaps Foreign currency — — (731 ) (926 ) (11 ) (62 ) (742 ) (988 ) Other (2) Interest rate — — — — (11 ) (2 ) (11 ) (2 ) Total derivative liabilities (3) (207 ) (89 ) (731 ) (929 ) (380 ) (497 ) (1,318 ) (1,515 ) Net total derivatives $ (207 ) $ (89 ) $ 144 $ (233 ) $ (306 ) $ (465 ) $ (369 ) $ (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) September 30, December 31, September 30, December 31, Gross position $ 949 $ 728 $ (1,318 ) $ (1,515 ) Impact of master netting agreements (19 ) (50 ) 19 50 Derivative values with impact of master netting agreements (as carried on balance sheet) 930 678 (1,299 ) (1,465 ) Cash collateral (held) pledged (425 ) (759 ) 407 466 Net position $ 505 $ (81 ) $ (892 ) $ (999 )
Derivative Notional Values	Cash Flow Fair Value Trading Total (Dollars in billions) Sept. 30, Dec. 31, Sept. 30, Dec. 31, Sept. 30, Dec. 31, Sept. 30, Dec. 31, 2015 Notional Values: Interest rate swaps $ 14.7 $ 9.5 $ 12.2 $ 12.6 $ 29.0 $ 33.8 $ 55.9 $ 55.9 Floor Income Contracts — — — — 16.5 35.1 16.5 35.1 Cross-currency interest rate swaps — — 8.6 9.1 .3 .3 8.9 9.4 Other (1) — — — — 3.0 3.2 3.0 3.2 Total derivatives $ 14.7 $ 9.5 $ 20.8 $ 21.7 $ 48.8 $ 72.4 $ 84.3 $ 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 September 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 $ (149 ) $ 209 $ 62 $ 83 $ 175 $ (234 ) $ 88 $ 58 Cross-currency interest rate swaps 112 (6 ) (22 ) (1 ) (81 ) 35 9 28 Total fair value derivatives (37 ) 203 40 82 94 (199 ) 97 86 Cash Flow Hedges: Interest rate swaps — — (20 ) — — — (20 ) — Total cash flow derivatives — — (20 ) — — — (20 ) — Trading: Interest rate swaps (20 ) 82 14 10 — — (6 ) 92 Floor Income Contracts 113 69 (28 ) (164 ) — — 85 (95 ) Cross-currency interest rate swaps 6 7 (1 ) (1 ) — — 5 6 Other (3 ) 13 (1 ) — — — (4 ) 13 Total trading derivatives 96 171 (16 ) (155 ) — — 80 16 Total 59 374 4 (73 ) 94 (199 ) 157 102 Less: realized gains (losses) recorded in interest expense — — 20 82 — — 20 82 Gains (losses) on derivative and hedging activities, net $ 59 $ 374 $ (16 ) $ (155 ) $ 94 $ (199 ) $ 137 $ 20 (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.” Nine Months Ended September 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 $ 166 $ 95 $ 201 $ 265 $ (172 ) $ (111 ) $ 195 $ 249 Cross-currency interest rate swaps 210 (547 ) (58 ) 3 (135 ) 682 17 138 Total fair value derivatives 376 (452 ) 143 268 (307 ) 571 212 387 Cash Flow Hedges: Interest rate swaps — — (31 ) — — — (31 ) — Total cash flow derivatives — — (31 ) — — — (31 ) — Trading: Interest rate swaps 44 94 35 30 — — 79 124 Floor Income Contracts 147 312 (222 ) (489 ) — — (75 ) (177 ) Cross-currency interest rate swaps 51 3 (3 ) (3 ) — — 48 — Other (8 ) 9 (2 ) (2 ) — — (10 ) 7 Total trading derivatives 234 418 (192 ) (464 ) — — 42 (46 ) Total 610 (34 ) (80 ) (196 ) (307 ) 571 223 341 Less: realized gains (losses) recorded in interest expense — — 112 268 — — 112 268 Gains (losses) on derivative and hedging activities, net $ 610 $ (34 ) $ (192 ) $ (464 ) $ (307 ) $ 571 $ 111 $ 73 (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) September 30, December 31, Collateral held: Cash (obligation to return cash collateral is recorded in short-term borrowings) (1) $ 425 $ 759 Securities at fair value — corporate derivatives (not recorded in the financial statements) (2) 376 — Securities at fair value — on-balance sheet securitization derivatives (not recorded in financial statements) (3) 394 301 Total collateral held $ 1,195 $ 1,060 Derivative asset at fair value including accrued interest $ 1,062 $ 896 Collateral pledged to others: Cash (right to receive return of cash collateral is recorded in investments) $ 407 $ 466 Total collateral pledged $ 407 $ 466 Derivative liability at fair value including accrued interest and premium receivable $ 1,343 $ 1,395 (1) At September 30, 2016 and December 31, 2015, $0 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)	9 Months Ended
	Sep. 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) September 30, December 31, Accrued interest receivable, net $ 1,548 $ 1,646 Derivatives at fair value 930 678 Income tax asset, net current and deferred 773 906 Benefit and insurance-related investments 486 491 Fixed assets, net 156 162 Accounts receivable 104 329 Other loans, net 116 70 Other 478 400 Total $ 4,591 $ 4,682

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Common Share Repurchases and Issuances	The following table summarizes common share repurchases and issuances. Three Months Ended Nine Months Ended 2016 2015 2016 2015 Common shares repurchased (1) 14,347,974 12,075,388 47,137,636 41,919,908 Average purchase price per share $ 13.95 $ 14.51 $ 12.21 $ 18.50 Shares repurchased related to employee stock-based compensation plans (2) 1,145,017 211,829 2,499,729 2,287,761 Average purchase price per share $ 14.20 $ 15.46 $ 12.36 $ 20.17 Common shares issued (3) 1,558,455 563,109 4,525,047 4,781,517 (1) Common shares purchased under our share repurchase program. (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)	9 Months Ended
	Sep. 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 Nine Months Ended (In millions, except per share data) 2016 2015 2016 2015 Numerator: Net income attributable to Navient Corporation $ 230 $ 237 $ 535 $ 711 Denominator: Weighted average shares used to compute basic EPS 310 369 324 382 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 5 7 Dilutive potential common shares (2) 6 6 5 7 Weighted average shares used to compute diluted EPS 316 375 329 389 Basic earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .74 $ .64 $ 1.65 $ 1.86 Discontinued operations — — — — Total $ .74 $ .64 $ 1.65 $ 1.86 Diluted earnings (loss) per common share attributable to Navient Corporation: Continuing operations $ .73 $ .63 $ 1.63 $ 1.83 Discontinued operations — — — — Total $ .73 $ .63 $ 1.63 $ 1.83 (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 September 30, 2016 and 2015, stock options covering approximately 4 million and 6 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive. For the nine months ended September 30, 2016 and 2015, stock options covering approximately 5 million and 4 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 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 September 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 — 904 26 930 — 709 17 726 Cross-currency interest rate swaps — — 18 18 — — 2 2 Other — — 1 1 — — — — Total derivative assets (3) — 904 45 949 — 709 19 728 Total $ — $ 908 $ 45 $ 953 $ — $ 714 $ 19 $ 733 Liabilities (2) Derivative instruments (1) Interest rate swaps $ — $ (207 ) $ (65 ) $ (272 ) $ — $ (99 ) $ (61 ) $ (160 ) Floor Income Contracts — (293 ) — (293 ) — (365 ) — (365 ) Cross-currency interest rate swaps — (10 ) (732 ) (742 ) — (83 ) (905 ) (988 ) Other — — (11 ) (11 ) — — (2 ) (2 ) Total derivative liabilities (3) — (510 ) (808 ) (1,318 ) — (547 ) (968 ) (1,515 ) Total $ — $ (510 ) $ (808 ) $ (1,318 ) $ — $ (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 September 30, 2016 2015 Derivative instruments Derivative instruments (Dollars in millions) Interest Cross Other Total Interest Cross Other Total Balance, beginning of period $ (37 ) $ (801 ) $ (7 ) $ (845 ) $ (82 ) $ (654 ) $ (15 ) $ (751 ) Total gains/(losses) (realized and unrealized): Included in earnings (1) (2 ) 64 (4 ) 58 40 (5 ) 13 48 Included in other comprehensive income — — — — — — — — Settlements — 23 1 24 3 3 — 6 Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (39 ) $ (714 ) $ (10 ) $ (763 ) $ (39 ) $ (656 ) $ (2 ) $ (697 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ (2 ) $ 87 $ (3 ) $ 82 $ 37 $ (2 ) $ 13 $ 48 Nine Months Ended September 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) 4 129 (10 ) 123 45 (538 ) 6 (487 ) Included in other comprehensive income — — — — — — — — Settlements 1 60 2 63 4 (1 ) 3 6 Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (39 ) $ (714 ) $ (10 ) $ (763 ) $ (39 ) $ (656 ) $ (2 ) $ (697 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ 6 $ 189 $ (8 ) $ 187 $ 42 $ (536 ) $ 9 $ (485 ) (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 Nine Months Ended (Dollars in millions) 2016 2015 2016 2015 Gains (losses) on derivative and hedging activities, net $ 81 $ 50 $ 183 $ (488 ) Interest expense (23 ) (2 ) (60 ) 1 Total $ 58 $ 48 $ 123 $ (487 ) (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 $ 8 Discounted cash flow Bid/ask adjustment to discount rate .02% — .05% (.05%) Prime/LIBOR basis swaps (47 ) Discounted cash flow Constant prepayment rate 6.2% Bid/ask adjustment to discount rate .03% — .05% (.05%) Cross-currency interest rate swaps (714 ) Discounted cash flow Constant prepayment rate 2.8% Other (10 ) Total $ (763 )
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. September 30, 2016 December 31, 2015 (Dollars in millions) Fair Carrying Difference Fair Carrying Difference Earning assets FFELP Loans $ 88,765 $ 90,146 $ (1,381 ) $ 94,377 $ 96,498 $ (2,121 ) Private Education Loans 23,698 24,010 (312 ) 25,772 26,394 (622 ) Cash and investments (1) 5,882 5,882 — 5,833 5,833 — Total earning assets 118,345 120,038 (1,693 ) 125,982 128,725 (2,743 ) Interest-bearing liabilities Short-term borrowings 2,648 2,637 (11 ) 2,569 2,570 1 Long-term borrowings 112,258 116,540 4,282 118,471 124,833 6,362 Total interest-bearing liabilities 114,906 119,177 4,271 121,040 127,403 6,363 Derivative financial instruments Floor Income Contracts (293 ) (293 ) — (365 ) (365 ) — Interest rate swaps 658 658 — 566 566 — Cross-currency interest rate swaps (724 ) (724 ) — (986 ) (986 ) — Other (10 ) (10 ) — (2 ) (2 ) — Excess of net asset fair value over carrying value $ 2,578 $ 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 September 30, 2016 and December 31, 2015, respectively, versus a fair value of $4 million and $5 million at September 30, 2016 and December 31, 2015, respectively.

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Results and Reconciliations to GAAP	Segment Results and Reconciliations to GAAP Three Months Ended September 30, 2016 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 617 $ 401 $ — $ — $ — $ 1,018 $ 28 $ (14 ) $ 14 $ 1,032 Other loans — — — 2 — 2 — — — 2 Cash and investments 4 — — 1 — 5 — — — 5 Total interest income 621 401 — 3 — 1,025 28 (14 ) 14 1,039 Total interest expense 413 178 — 29 — 620 7 — 7 627 Net interest income (loss) 208 223 — (26 ) — 405 21 (14 ) 7 412 Less: provisions for loan losses 13 92 — 1 — 106 — — — 106 Net interest income (loss) after provisions for loan losses 195 131 — (27 ) — 299 21 (14 ) 7 306 Other income (loss): Servicing revenue 13 4 155 — (96 ) 76 — — — 76 Asset recovery and business processing revenue — — 97 — — 97 — — — 97 Other income (loss) — — — 5 — 5 (21 ) 153 132 137 Gains on debt repurchases — — — 1 — 1 — — — 1 Total other income (loss) 13 4 252 6 (96 ) 179 (21 ) 153 132 311 Expenses: Direct operating expenses 99 40 124 10 (96 ) 177 — — — 177 Overhead expenses — — — 51 — 51 — — — 51 Operating expenses 99 40 124 61 (96 ) 228 — — — 228 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 12 12 12 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 99 40 124 61 (96 ) 228 — 12 12 240 Income (loss) from continuing operations, before income tax expense (benefit) 109 95 128 (82 ) — 250 — 127 127 377 Income tax expense (benefit) (3) 40 35 47 (29 ) — 93 — 54 54 147 Net income (loss) from continuing operations 69 60 81 (53 ) — 157 — 73 73 230 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 69 $ 60 $ 81 $ (53 ) $ — $ 157 $ — $ 73 $ 73 $ 230 (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 September 30, 2016 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 7 $ — $ 7 Total other income (loss) — 132 — 132 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 12 12 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ 139 $ (12 ) 127 Income tax expense (benefit) 54 Net income (loss) $ 73 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Three Months Ended September 30, 2015 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 526 $ 444 $ — $ — $ — $ 970 $ 164 $ (60 ) $ 104 $ 1,074 Other loans — — — 1 — 1 — — — 1 Cash and investments 2 — — — — 2 — — — 2 Total interest income 528 444 — 1 — 973 164 (60 ) 104 1,077 Total interest expense 317 170 — 26 — 513 11 — 11 524 Net interest income (loss) 211 274 — (25 ) — 460 153 (60 ) 93 553 Less: provisions for loan losses 7 117 — (1 ) — 123 — — — 123 Net interest income (loss) after provisions for loan losses 204 157 — (24 ) — 337 153 (60 ) 93 430 Other income (loss): Servicing revenue 16 5 161 — (106 ) 76 — — — 76 Asset recovery and business processing revenue — — 85 — — 85 — — — 85 Other income (loss) — — 2 3 — 5 (153 ) 168 15 20 Gains on debt repurchases — — — — — — — — — — Total other income (loss) 16 5 248 3 (106 ) 166 (153 ) 168 15 181 Expenses: Direct operating expenses 109 39 123 9 (106 ) 174 — — — 174 Overhead expenses — — — 54 — 54 — — — 54 Operating expenses 109 39 123 63 (106 ) 228 — — — 228 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 3 3 3 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 109 39 123 63 (106 ) 228 — 3 3 231 Income (loss) from continuing operations, before income tax expense (benefit) 111 123 125 (84 ) — 275 — 105 105 380 Income tax expense (benefit) (3) 41 46 46 (31 ) — 102 — 42 42 144 Net income (loss) from continuing operations 70 77 79 (53 ) — 173 — 63 63 236 Income from discontinued operations, net of tax expense — — — 1 — 1 — — — 1 Net income (loss) $ 70 $ 77 $ 79 $ (52 ) $ — $ 174 $ — $ 63 $ 63 $ 237 (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 September 30, 2015 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 93 $ — $ 93 Total other income (loss) — 15 — 15 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 3 3 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ 108 $ (3 ) 105 Income tax expense (benefit) 42 Net income (loss) $ 63 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Nine Months Ended September 30, 2016 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassi- fications Additions/ Total (2) Interest income: Education loans $ 1,760 $ 1,213 $ — $ — $ — $ 2,973 $ 222 $ (99 ) $ 123 $ 3,096 Other loans — — — 5 — 5 — — — 5 Cash and investments 12 2 — 3 — 17 — — — 17 Total interest income 1,772 1,215 — 8 — 2,995 222 (99 ) 123 3,118 Total interest expense 1,159 522 — 85 — 1,766 25 — 25 1,791 Net interest income (loss) 613 693 — (77 ) — 1,229 197 (99 ) 98 1,327 Less: provisions for loan losses 30 296 — 1 — 327 — — — 327 Net interest income (loss) after provisions for loan losses 583 397 — (78 ) — 902 197 (99 ) 98 1,000 Other income (loss): Servicing revenue 45 11 470 — (296 ) 230 — — — 230 Asset recovery and business processing revenue — — 288 — — 288 — — — 288 Other income (loss) — — 2 10 — 12 (197 ) 260 63 75 Gains on debt repurchases — — — 1 — 1 — — — 1 Total other income (loss) 45 11 760 11 (296 ) 531 (197 ) 260 63 594 Expenses: Direct operating expenses 305 124 383 22 (296 ) 538 — — — 538 Overhead expenses — — — 168 — 168 — — — 168 Operating expenses 305 124 383 190 (296 ) 706 — — — 706 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 22 22 22 Restructuring and other reorganization expenses — — — — — — — — — — Total expenses 305 124 383 190 (296 ) 706 — 22 22 728 Income (loss) from continuing operations, before income tax expense (benefit) 323 284 377 (257 ) — 727 — 139 139 866 Income tax expense (benefit) (3) 120 105 140 (96 ) — 269 — 62 62 331 Net income (loss) from continuing operations 203 179 237 (161 ) — 458 — 77 77 535 Income (loss) from discontinued operations, net of tax expense (benefit) — — — — — — — — — — Net income (loss) $ 203 $ 179 $ 237 $ (161 ) $ — $ 458 $ — $ 77 $ 77 $ 535 (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: Nine Months Ended September 30, 2016 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 98 $ — $ 98 Total other income (loss) — 63 — 63 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 22 22 Restructuring and other reorganization expenses — — — — Total “Core Earnings” adjustments to GAAP $ — $ 161 $ (22 ) 139 Income tax expense (benefit) 62 Net income (loss) $ 77 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Nine Months Ended September 30, 2015 (Dollars in millions) FFELP Private Business Other Elimina- tions (1) Total Adjustments Total Reclassifi- cations Additions/ Total (2) Interest income: Education loans $ 1,581 $ 1,335 $ — $ — $ — $ 2,916 $ 489 $ (178 ) $ 311 $ 3,227 Other loans — — — 5 — 5 — — — 5 Cash and investments 5 — — 1 — 6 — — — 6 Total interest income 1,586 1,335 — 6 — 2,927 489 (178 ) 311 3,238 Total interest expense 928 514 — 84 — 1,526 27 — 27 1,553 Net interest income (loss) 658 821 — (78 ) — 1,401 462 (178 ) 284 1,685 Less: provisions for loan losses 19 428 — (1 ) — 446 — — — 446 Net interest income (loss) after provisions for loan losses 639 393 — (77 ) — 955 462 (178 ) 284 1,239 Other income (loss): Servicing revenue 78 17 487 — (324 ) 258 — — — 258 Asset recovery and business processing revenue — — 273 — — 273 — — — 273 Other income (loss) — — 4 11 — 15 (462 ) 535 73 88 Gains on sales of loans and investments 12 — — — — 12 — — — 12 Gains on debt repurchases — — — — — — — — — — Total other income (loss) 90 17 764 11 (324 ) 558 (462 ) 535 73 631 Expenses: Direct operating expenses 336 127 355 20 (324 ) 514 — — — 514 Overhead expenses — — — 169 — 169 — — — 169 Operating expenses 336 127 355 189 (324 ) 683 — — — 683 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 7 7 7 Restructuring and other reorganization expenses — — — — — — — 32 32 32 Total expenses 336 127 355 189 (324 ) 683 — 39 39 722 Income (loss) from continuing operations, before income tax expense (benefit) 393 283 409 (255 ) — 830 — 318 318 1,148 Income tax expense (benefit) (3) 146 105 152 (95 ) — 308 — 130 130 438 Net income (loss) from continuing operations 247 178 257 (160 ) — 522 — 188 188 710 Income from discontinued operations, net of tax expense — — — 1 — 1 — — — 1 Net income (loss) $ 247 $ 178 $ 257 $ (159 ) $ — $ 523 $ — $ 188 $ 188 $ 711 (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: Nine Months Ended September 30, 2015 (Dollars in millions) Net Impact from Net Impact of Net Impact of Total Net interest income after provisions for loan losses $ — $ 284 $ — $ 284 Total other income (loss) — 73 — 73 Operating expenses — — — — Goodwill and acquired intangible asset impairment and amortization — — 7 7 Restructuring and other reorganization expenses 32 — — 32 Total “Core Earnings” adjustments to GAAP $ (32 ) $ 357 $ (7 ) 318 Income tax expense (benefit) 130 Net income (loss) $ 188 (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 Nine 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) $ — $ — $ — $ (32 ) Net impact of derivative accounting (2) 139 108 161 357 Net impact of goodwill and acquired intangibles assets (3) (12 ) (3 ) (22 ) (7 ) Net tax effect (4) (54 ) (42 ) (62 ) (130 ) Total “Core Earnings” adjustments to GAAP $ 73 $ 63 $ 77 $ 188 (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) September 30, December 31, FFELP Loans, net $ 90,146 $ 96,498 Cash and investments (1) 3,260 3,572 Other 1,954 2,015 Total assets $ 95,360 $ 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) September 30, December 31, Private Education Loans, net $ 24,010 $ 26,394 Cash and investments (1) 713 596 Other 1,946 1,988 Total assets $ 26,669 $ 28,978 (1) Includes restricted cash and investments.

Significant Accounting Polici29

Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Net income (loss)	$ 230	$ 237	$ 535	$ 711
Education Loan Portfolio [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Loans unamortized premium (discount)	451		451
Total loans gross including receivable for partially charged-off loans	115,000		115,000
Education Loan Portfolio [Member] | Immaterial Error Correction Adjustments [Member] | Scenario, Plan [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Loans unamortized premium (discount)	$ (2)		(2)
Net income (loss)			$ (1)
FFELP Stafford Loans [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Constant prepayment rates	5.00%		5.00%
FFELP Stafford Loans [Member] | Previous Interest Method Policy [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Constant prepayment rates	5.00%		5.00%
FFELP Consolidation Loans [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Constant prepayment rates	3.00%		3.00%
FFELP Consolidation Loans [Member] | Previous Interest Method Policy [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Constant prepayment rates	3.00%		3.00%
Private Education Loans [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Total loans gross including receivable for partially charged-off loans	$ 25,864	$ 29,377	$ 25,864	$ 29,377
Constant prepayment rates	5.00%		5.00%
Private Education Loans [Member] | Previous Interest Method Policy [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Constant prepayment rates	6.00%		6.00%

Allowance for Loan Losses - Add

Allowance for Loan Losses - Additional Information (Detail) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)	Mar. 31, 2015	Sep. 30, 2016USD ($)PointLoans	Sep. 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
Percentage of loans granted forbearance that migrated to TDR classification			59.00%		56.00%
Payment default period for TDRs			60 days past due
Interest Rate Reduction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
TDR loans, Unpaid Principal Balance			$ 2,700		$ 2,500
Minimum [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Delinquency period (in days)					212 days
Private Education Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Number of classes of loans | Loans			2
Portion of loan amount charged off at default	79.00%	73.00%
Net adjustment resulting from the change in the charge-off rate	$ 330			$ 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			9 Months Ended
	Sep. 30, 2016USD ($)SecurityLoan	Sep. 30, 2015USD ($)SecurityLoan	Jun. 30, 2015USD ($)	Sep. 30, 2016USD ($)SecurityLoan	Sep. 30, 2015USD ($)SecurityLoan
Allowance for Loan Losses
Beginning balance	$ 1,487	$ 1,643		$ 1,564	$ 2,033
Total provision	106	123		327	446
Net adjustment resulting from the change in the charge-off rate					(330)
Net charge-offs remaining					(549)
Total net charge-offs	(130)	(161)		(434)	879
Reclassification of interest reserve	2	3		8	8
Ending balance	1,465	1,608	$ 1,643	1,465	1,608
Allowance:
Ending balance: individually evaluated for impairment	1,164	1,263		1,164	1,263
Ending balance: collectively evaluated for impairment	301	345		301	345
Loans:
Ending balance: individually evaluated for impairment	11,214	10,911		11,214	10,911
Ending balance: collectively evaluated for impairment	104,072	115,982		104,072	115,982
FFELP Loans [Member]
Allowance for Loan Losses
Beginning balance	62	89		78	93
Total provision	13	7		30	19
Net charge-offs remaining					(28)
Total net charge-offs	(17)	(12)		(50)	28
Ending balance	58	84	89	58	84
Allowance:
Ending balance: collectively evaluated for impairment	58	84		58	84
Loans:
Ending balance: collectively evaluated for impairment	$ 89,291	$ 97,425		$ 89,291	$ 97,425
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%
Net charge-offs as a percentage of average loans in repayment (annualized)	0.09%	0.06%		0.09%
Allowance coverage of net charge-offs (annualized) | SecurityLoan	0.8	1.7		0.9
Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) | SecurityLoan					2.2
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	0.08%	0.11%		0.08%	0.11%
Ending total loans	$ 89,291	$ 97,425		$ 89,291	$ 97,425
Average loans in repayment	72,921	75,460		73,193	76,412
Ending loans in repayment	72,269	75,294		72,269	75,294
Private Education Loans [Member]
Allowance for Loan Losses
Beginning balance	1,410	1,533		1,471	1,916
Total provision	92	117		296	428
Net adjustment resulting from the change in the charge-off rate			(330)		(330)
Net charge-offs remaining					(517)
Total net charge-offs	(112)	(148)		(383)	847
Reclassification of interest reserve	2	3		8	8
Ending balance	1,392	1,505	1,533	1,392	1,505
Allowance:
Ending balance: individually evaluated for impairment	1,153	1,247		1,153	1,247
Ending balance: collectively evaluated for impairment	239	258		239	258
Loans:
Ending balance: individually evaluated for impairment	11,182	10,870		11,182	10,870
Ending balance: collectively evaluated for impairment	$ 14,682	$ 18,507		$ 14,682	$ 18,507
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)					2.65%
Net charge-offs as a percentage of average loans in repayment (annualized)	1.94%	2.31%		2.17%
Net adjustment resulting from the change in the charge-off rate as a percentage of average loans in repayment (annualized)					1.69%
Allowance coverage of net charge-offs (annualized) | SecurityLoan	3.1	2.6		2.7
Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) | SecurityLoan					2.2
Allowance as a percentage of the ending total loan balance	5.38%	5.12%		5.38%	5.12%
Allowance as a percentage of the ending loans in repayment	6.17%	5.99%		6.17%	5.99%
Ending total loans	$ 25,864	$ 29,377		$ 25,864	$ 29,377
Average loans in repayment	22,959	25,546		23,564	26,100
Ending loans in repayment	22,556	25,104		22,556	25,104
Other Loans [Member]
Allowance for Loan Losses
Beginning balance	15	21		15	24
Total provision	1	(1)		1	(1)
Net charge-offs remaining					(4)
Total net charge-offs	(1)	(1)		(1)	4
Ending balance	15	19	$ 21	15	19
Allowance:
Ending balance: individually evaluated for impairment	11	16		11	16
Ending balance: collectively evaluated for impairment	4	3		4	3
Loans:
Ending balance: individually evaluated for impairment	32	41		32	41
Ending balance: collectively evaluated for impairment	$ 99	$ 50		$ 99	$ 50
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)					5.72%
Net charge-offs as a percentage of average loans in repayment (annualized)	1.87%	5.10%		1.76%
Allowance coverage of net charge-offs (annualized) | SecurityLoan	7.9	3.9		9.5
Allowance coverage of net charge-offs, excluding the net adjustment resulting from the change in the charge-off rate (annualized) | SecurityLoan					3.3
Allowance as a percentage of the ending total loan balance	11.40%	20.31%		11.40%	20.31%
Allowance as a percentage of the ending loans in repayment	11.40%	20.31%		11.40%	20.31%
Ending total loans	$ 131	$ 91		$ 131	$ 91
Average loans in repayment	102	93		89	99
Ending loans in repayment	$ 131	$ 91		$ 131	$ 91

Allowance for Loan Losses - A32

Allowance for Loan Losses - Allowance for Credit Losses and Recorded Investments in Loans (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net adjustment resulting from the change in the charge-off rate			$ 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	Sep. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 25,036	$ 27,515
Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Private Education Loans with cosigner	16,107	17,738
Private Education Loans without cosigner	$ 8,929	$ 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	$ 25,036	$ 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	23,006	25,280
School type FICO scores non-traditional recorded investment	$ 2,030	$ 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	$ 25,036	$ 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	1,348	1,776
Seasoning - based on monthly scheduled payments due from 13-24 payments	1,430	1,977
Seasoning - based on monthly scheduled payments due from 25-36 payments	2,234	2,982
Seasoning - based on monthly scheduled payments due from 37-48 payments	3,172	3,787
Seasoning - based on monthly scheduled payments due from more than 48 payments	15,313	14,953
Seasoning - based on monthly scheduled payments due from not yet in repayment	$ 1,539	$ 2,040
Seasoning based on monthly scheduled payments due from 1-12 payments, in percent	5.00%	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	9.00%	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	61.00%	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	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015	Jun. 30, 2016	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Loans in repayment and percentage of each status:
Loans allowance for losses	$ (1,465)	$ (1,564)	$ (1,487)	$ (1,608)	$ (1,643)	$ (2,033)
FFELP Loans [Member]
Loans in repayment and percentage of each status:
Total loans in repayment	72,269			75,294
Loans allowance for losses	(58)	(78)	$ (62)	$ (84)	$ (89)	$ (93)
Loans, net	90,146	96,498
Credit Concentration Risk [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in-school/grace/deferment	1,405	1,859
Loans in forbearance	833	863
Loans in repayment and percentage of each status:
Loans current	19,471	21,085
Total loans in repayment	20,768	22,558
Total loans, gross	23,006	25,280
Loans unamortized premium (discount)	(407)	(470)
Total loans	22,599	24,810
Loans receivable for partially charged-off loans	532	560
Loans allowance for losses	(1,176)	(1,236)
Loans, net	21,955	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	134	181
Loans in forbearance	108	110
Loans in repayment and percentage of each status:
Total loans in repayment	1,788	1,944
Total loans, gross	2,030	2,235
Loans unamortized premium (discount)	(55)	(61)
Total loans	1,975	2,174
Loans receivable for partially charged-off loans	296	321
Loans allowance for losses	(216)	(235)
Loans, net	2,055	2,260
Credit Concentration Risk [Member] | Troubled Debt Restructuring Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in-school/grace/deferment	605	706
Loans in forbearance	669	695
Loans in repayment and percentage of each status:
Total loans in repayment	9,558	9,241
Total loans, gross	10,832	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	1,539	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	8,299	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	434	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	73	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	394	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	262	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	52	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	254	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	601	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	124	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	611	679
Credit Concentration Risk [Member] | FFELP Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in-school/grace/deferment	6,492	8,257
Loans in forbearance	10,530	13,298
Loans in repayment and percentage of each status:
Loans current	64,078	62,651
Total loans in repayment	72,269	73,934
Total loans, gross	89,291	95,489
Loans unamortized premium (discount)	913	1,087
Total loans	90,204	96,576
Loans allowance for losses	(58)	(78)
Loans, net	90,146	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	2,462	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	818	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	$ 4,911	$ 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	93.80%	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	86.10%	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	86.80%	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	2.10%	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	4.10%	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	4.10%	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	1.30%	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	2.90%	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	2.70%	2.80%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 90 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	2.80%	3.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 90 Days Past Due [Member] | Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans delinquent, percentage	6.90%	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	6.40%	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	90.30%	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	88.10%	87.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Delinquent Loans in Repayment [Member] | Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	6.20%	6.50%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Delinquent Loans in Repayment [Member] | Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Dimensions of concentration risk	13.90%	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	3.90%	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	5.70%	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	88.70%	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	3.40%	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	1.10%	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	6.80%	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	80.90%	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	11.30%	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	12.70%	15.20%

Allowance for Loan Losses - Rec

Allowance for Loan Losses - Receivable for Partially Charged-Off Loans (Detail) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Net adjustment resulting from the change in the charge-off rate					$ (330)
Net charge-offs remaining					(549)
Total net charge-offs	$ (130)	$ (161)		$ (434)	879
Private Education Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Receivable at beginning of period	847	902		881	1,245
Expected future recoveries of current period defaults	28	38		96	147
Recoveries	(47)	(48)		(149)	(151)
Net adjustment resulting from the change in the charge-off rate			$ (330)		(330)
Net charge-offs remaining					(517)
Total net charge-offs	(112)	(148)		(383)	847
Receivable at end of period	$ 828	$ 892	$ 902	$ 828	892
Private Education Loans [Member] | Loans Receivable For Partially Charged Off Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Net charge-offs remaining					(19)
Total net charge-offs					$ (349)

Allowance for Loan Losses - R36

Allowance for Loan Losses - Receivable for Partially Charged-Off Loans (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Net adjustment resulting from the change in the charge-off rate			$ 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 - R37

Allowance for Loan Losses - Recorded Investment, Unpaid Principal Balance and Related Allowance for TDR Loans (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR Loans, Recorded Investment	$ 10,785	$ 10,575
TDR loans, Unpaid Principal Balance	10,832	10,642
TDR Loans, Related Allowance	1,153	1,209
Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR Loans, Recorded Investment	9,391	9,134
TDR loans, Unpaid Principal Balance	9,434	9,200
TDR Loans, Related Allowance	959	995
Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR Loans, Recorded Investment	1,394	1,441
TDR loans, Unpaid Principal Balance	1,398	1,442
TDR Loans, Related Allowance	$ 194	$ 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Average Recorded Investment	$ 10,769	$ 10,444	$ 10,721	$ 10,396
Impaired financing receivable, Interest Income Recognized	167	163	497	488
Private Education Loans - Traditional [Member]
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Average Recorded Investment	9,367	8,988	9,303	8,930
Impaired financing receivable, Interest Income Recognized	140	134	416	402
Private Education Loans - Non-Traditional [Member]
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Average Recorded Investment	1,402	1,456	1,418	1,466
Impaired financing receivable, Interest Income Recognized	$ 27	$ 29	$ 81	$ 86

Allowance for Loan Losses - Loa

Allowance for Loan Losses - Loans Modified Accounts for TDR (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Financing Receivable, Modifications [Line Items]
Modified Loans	$ 254	$ 371	$ 934	$ 1,218
Charge-Offs	86	107	282	357
Payment-Default	67	98	206	313
Private Education Loans - Traditional [Member]
Financing Receivable, Modifications [Line Items]
Modified Loans	233	339	861	1,107
Charge-Offs	68	81	221	273
Payment-Default	56	83	174	266
Private Education Loans - Non-Traditional [Member]
Financing Receivable, Modifications [Line Items]
Modified Loans	21	32	73	111
Charge-Offs	18	26	61	84
Payment-Default	$ 11	$ 15	$ 32	$ 47

Allowance for Loan Losses - Acc

Allowance for Loan Losses - Accrued Interest Receivable (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Private Education Loans - Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	$ 374	$ 433
Greater Than 90 Days Past Due	23	27
Allowance for Uncollectible Interest	26	26
Private Education Loans - Non-Traditional [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	48	57
Greater Than 90 Days Past Due	7	8
Allowance for Uncollectible Interest	7	9
Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	422	490
Greater Than 90 Days Past Due	30	35
Allowance for Uncollectible Interest	$ 33	$ 35

Borrowings - Company's Borrowin

Borrowings - Company's Borrowings (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Short-term borrowings	$ 2,637	$ 2,570
Long-term borrowings	116,540	124,833
Total	119,177	127,403
Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Short-term borrowings	2,637	2,590
Long-term borrowings	116,291	124,916
Total	118,928	127,506
Total Before Hedge Accounting Adjustments [Member] | Senior Unsecured Debt [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,456	1,120
Long-term borrowings	13,038	13,976
Total	14,494	15,096
Total Before Hedge Accounting Adjustments [Member] | Total Unsecured Borrowings [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,456	1,120
Long-term borrowings	13,038	13,976
Total	14,494	15,096
Total Before Hedge Accounting Adjustments [Member] | FFELP Loan Securitizations [Member]
Debt Instrument [Line Items]
Long-term borrowings	74,269	77,764
Total	74,269	77,764
Total Before Hedge Accounting Adjustments [Member] | Private Education Loan Securitizations [Member]
Debt Instrument [Line Items]
Long-term borrowings	15,402	16,900
Total	15,402	16,900
Total Before Hedge Accounting Adjustments [Member] | FFELP Loan - Other Facilities [Member]
Debt Instrument [Line Items]
Long-term borrowings	13,582	16,276
Total	13,582	16,276
Total Before Hedge Accounting Adjustments [Member] | Private Education Loan - Other Facilities [Member]
Debt Instrument [Line Items]
Short-term borrowings	344	710
Total	344	710
Total Before Hedge Accounting Adjustments [Member] | Other [Member]
Debt Instrument [Line Items]
Short-term borrowings	837	760
Total	837	760
Total Before Hedge Accounting Adjustments [Member] | Secured Borrowings [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,181	1,470
Long-term borrowings	103,253	110,940
Total	104,434	112,410
Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Short-term borrowings		(20)
Long-term borrowings	249	(83)
Total	$ 249	$ (103)

Borrowings - Company's Borrow42

Borrowings - Company's Borrowings (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt	$ 116,540	$ 124,833
Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Long-term debt	116,291	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	Sep. 30, 2016	Dec. 31, 2015
Securities Financing Transaction [Line Items]
Short-term borrowings	$ 2,637	$ 2,570
Long-term borrowings	116,540	124,833
Total Debt Outstanding	119,177	127,403
Other assets	4,591	4,682
Total Before Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	2,637	2,590
Long-term borrowings	116,291	124,916
Total Debt Outstanding	118,928	127,506
Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings		(20)
Long-term borrowings	249	(83)
Total Debt Outstanding	249	(103)
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	381	710
Long-term borrowings	99,027	106,510
Total Debt Outstanding	99,408	107,220
Loans	106,150	114,640
Cash	3,437	3,553
Other assets	553	293
Total Carrying Amount of Assets Securing Debt Outstanding	110,140	118,486
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loan Securitizations [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	74,269	77,764
Total Debt Outstanding	74,269	77,764
Loans	74,813	78,358
Cash	2,723	2,760
Other assets	784	682
Total Carrying Amount of Assets Securing Debt Outstanding	78,320	81,800
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Private Education Loan Securitizations [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	15,402	16,900
Total Debt Outstanding	15,402	16,900
Loans	20,505	22,014
Cash	447	452
Other assets	282	323
Total Carrying Amount of Assets Securing Debt Outstanding	21,234	22,789
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loan - Other Facilities [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	10,071	12,676
Total Debt Outstanding	10,071	12,676
Loans	10,266	13,158
Cash	258	324
Other assets	172	168
Total Carrying Amount of Assets Securing Debt Outstanding	10,696	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	344	710
Total Debt Outstanding	344	710
Loans	520	1,110
Cash	8	17
Other assets	16	31
Total Carrying Amount of Assets Securing Debt Outstanding	544	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	381	710
Long-term borrowings	99,742	107,340
Total Debt Outstanding	100,123	108,050
Loans	106,150	114,640
Cash	3,437	3,553
Other assets	1,253	1,204
Total Carrying Amount of Assets Securing Debt Outstanding	110,840	119,397
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	(715)	(830)
Total Debt Outstanding	(715)	(830)
Other assets	(700)	(911)
Total Carrying Amount of Assets Securing Debt Outstanding	(700)	$ (911)
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Other [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	37
Total Debt Outstanding	37
Loans	46
Cash	1
Other assets	(1)
Total Carrying Amount of Assets Securing Debt Outstanding	$ 46

Borrowings - Financing VIEs (Pa

Borrowings - Financing VIEs (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Securities Financing Transaction [Line Items]
Long-term debt	$ 116,540	$ 124,833
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Securities Financing Transaction [Line Items]
Long-term debt	99,027	106,510
Restricted cash	3,437	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	$ 59	$ 41

Derivative Financial Instrume45

Derivative Financial Instruments - Impact of Derivatives on Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Derivative Assets:
Derivative assets	$ 949	$ 728
Derivative Liabilities:
Derivative liabilities	(1,318)	(1,515)
Net total derivatives	(369)	(787)
Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	930	726
Derivative Liabilities:
Derivative liabilities	(272)	(160)
Cross-Currency Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	18	2
Derivative Liabilities:
Derivative liabilities	(742)	(988)
Other [Member]
Derivative Assets:
Derivative assets	1
Derivative Liabilities:
Derivative liabilities	(11)	(2)
Floor Income Contracts [Member]
Derivative Liabilities:
Derivative liabilities	(293)	(365)
Designated as Hedging Instrument [Member] | Cash Flow [Member]
Derivative Liabilities:
Derivative liabilities	(207)	(89)
Net total derivatives	(207)	(89)
Designated as Hedging Instrument [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	875	696
Derivative Liabilities:
Derivative liabilities	(731)	(929)
Net total derivatives	144	(233)
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Cash Flow [Member]
Derivative Liabilities:
Derivative liabilities	(207)	(89)
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	857	694
Derivative Liabilities:
Derivative liabilities		(3)
Designated as Hedging Instrument [Member] | Cross-Currency Interest Rate Swaps [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	18	2
Derivative Liabilities:
Derivative liabilities	(731)	(926)
Trading [Member]
Derivative Assets:
Derivative assets	74	32
Derivative Liabilities:
Derivative liabilities	(380)	(497)
Net total derivatives	(306)	(465)
Trading [Member] | Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	73	32
Derivative Liabilities:
Derivative liabilities	(65)	(68)
Trading [Member] | Cross-Currency Interest Rate Swaps [Member]
Derivative Liabilities:
Derivative liabilities	(11)	(62)
Trading [Member] | Other [Member]
Derivative Assets:
Derivative assets	1
Derivative Liabilities:
Derivative liabilities	(11)	(2)
Trading [Member] | Floor Income Contracts [Member]
Derivative Liabilities:
Derivative liabilities	$ (293)	$ (365)

Derivative Financial Instrume46

Derivative Financial Instruments - Gross Positions without Impact of Master Netting Agreements (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Gross position, Assets	$ 949	$ 728
Cash collateral (held) pledged, Assets	(425)	(759)
Gross position, Liabilities	(1,318)	(1,515)
Cash collateral (held) pledged, Liabilities	407	466
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross position, Liabilities	(1,318)	(1,515)
Impact of master netting agreements, Liabilities	19	50
Derivative values with impact of master netting agreements (as carried on balance sheet), Liabilities	(1,299)	(1,465)
Cash collateral (held) pledged, Liabilities	407	466
Net position, Liabilities	(892)	(999)
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Gross position, Assets	949	728
Impact of master netting agreements, Assets	(19)	(50)
Derivative values with impact of master netting agreements (as carried on balance sheet), Assets	930	678
Cash collateral (held) pledged, Assets	(425)	(759)
Net position, Assets	$ 505	$ (81)

Derivative Financial Instrume47

Derivative Financial Instruments - Additional Information (Detail) $ in Millions	Sep. 30, 2016USD ($)Counterparty	Dec. 31, 2015USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Decrease in valuation due to net credit risk adjustments	$ 3	$ 1
Decrease in valuation due to liquidity adjustments	30	$ 31
Derivative liability position including accrued interest, net of premium receivable with counterparty	$ 594
Number of counterparties with right to terminate | Counterparty	2

Derivative Financial Instrume48

Derivative Financial Instruments - Derivative Notional Values (Detail) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Total Derivative Notional Values	$ 84,300,000,000	$ 103,600,000,000
Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	55,900,000,000	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	8,900,000,000	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	20,800,000,000	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	12,200,000,000	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	8,600,000,000	9,100,000,000
Trading [Member]
Derivative [Line Items]
Total Derivative Notional Values	48,800,000,000	72,400,000,000
Trading [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	29,000,000,000	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 Instrume49

Derivative Financial Instruments - Impact of Derivatives on Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	$ 59	$ 374	$ 610	$ (34)
Realized Gain (Loss) on Derivatives	4	(73)	(80)	(196)
Unrealized Gain (Loss) on Hedged Item	94	(199)	(307)	571
Unrealized Gain (Loss) on Derivatives, Net	59	374	610	(34)
Total Gain (Loss) on Derivatives, Gross	157	102	223	341
Realized Gain (Loss) on Derivatives, Net	(16)	(155)	(192)	(464)
Unrealized Gain (Loss) on Hedged Item, Net	94	(199)	(307)	571
Total Gain (Loss) On Derivatives, Net	137	20	111	73
Designated as Hedging Instrument [Member] | Fair Value [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	(37)	203	376	(452)
Realized Gain (Loss) on Derivatives	40	82	143	268
Unrealized Gain (Loss) on Hedged Item	94	(199)	(307)	571
Total Gain (Loss) on Derivatives, Gross	97	86	212	387
Designated as Hedging Instrument [Member] | Fair Value [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	(149)	209	166	95
Realized Gain (Loss) on Derivatives	62	83	201	265
Unrealized Gain (Loss) on Hedged Item	175	(234)	(172)	(111)
Total Gain (Loss) on Derivatives, Gross	88	58	195	249
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	112	(6)	210	(547)
Realized Gain (Loss) on Derivatives	(22)	(1)	(58)	3
Unrealized Gain (Loss) on Hedged Item	(81)	35	(135)	682
Total Gain (Loss) on Derivatives, Gross	9	28	17	138
Designated as Hedging Instrument [Member] | Cash Flow [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives	(20)		(31)
Total Gain (Loss) on Derivatives, Gross	(20)		(31)
Designated as Hedging Instrument [Member] | Cash Flow [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives	(20)		(31)
Total Gain (Loss) on Derivatives, Gross	(20)		(31)
Trading [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	96	171	234	418
Realized Gain (Loss) on Derivatives	(16)	(155)	(192)	(464)
Total Gain (Loss) on Derivatives, Gross	80	16	42	(46)
Trading [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	(20)	82	44	94
Realized Gain (Loss) on Derivatives	14	10	35	30
Total Gain (Loss) on Derivatives, Gross	(6)	92	79	124
Trading [Member] | Cross-Currency Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	6	7	51	3
Realized Gain (Loss) on Derivatives	(1)	(1)	(3)	(3)
Total Gain (Loss) on Derivatives, Gross	5	6	48
Trading [Member] | Floor Income Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	113	69	147	312
Realized Gain (Loss) on Derivatives	(28)	(164)	(222)	(489)
Total Gain (Loss) on Derivatives, Gross	85	(95)	(75)	(177)
Trading [Member] | Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	(3)	13	(8)	9
Realized Gain (Loss) on Derivatives	(1)		(2)	(2)
Total Gain (Loss) on Derivatives, Gross	(4)	13	(10)	7
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Less: realized gains (losses) recorded in interest expense	20	82	112	268
Realized Gain (Loss) on Derivatives	$ 20	$ 82	$ 112	$ 268

Derivative Financial Instrume50

Derivative Financial Instruments - Collateral Held and Pledged (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Collateral held:
Cash (obligation to return cash collateral is recorded in short-term borrowings)	$ 425	$ 759
Securities at fair value - corporate derivatives (not recorded in the financial statements)	376
Securities at fair value - on-balance sheet securitization derivatives (not recorded in financial statements)	394	301
Total collateral held	1,195	1,060
Derivative asset at fair value including accrued interest	1,062	896
Collateral pledged to others:
Cash (right to receive return of cash collateral is recorded in investments)	407	466
Total collateral pledged	407	466
Derivative liability at fair value including accrued interest and premium receivable	$ 1,343	$ 1,395

Derivative Financial Instrume51

Derivative Financial Instruments - Collateral Held and Pledged (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Collateral held in restricted cash account	$ 0	$ 2

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Other Assets [Line Items]
Other	$ 478	$ 400
Total	4,591	4,682
Other Assets [Member]
Other Assets [Line Items]
Accrued interest receivable, net	1,548	1,646
Derivatives at fair value	930	678
Income tax asset, net current and deferred	773	906
Benefit and insurance-related investments	486	491
Fixed assets, net	156	162
Accounts receivable	104	329
Other loans, net	$ 116	$ 70

Business Combinations - Acqui53

Business Combinations - Acquisition of Gila LLC and Xtend Healthcare - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Oct. 31, 2015	Feb. 28, 2015	Sep. 30, 2016	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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Equity, Class of Treasury Stock [Line Items]
Average purchase price per share	$ 13.95	$ 14.51	$ 12.21	$ 18.50
Shares repurchased related to employee stock-based compensation plans	1,145,017	211,829	2,499,729	2,287,761
Average purchase price per share	$ 14.20	$ 15.46	$ 12.36	$ 20.17
Common shares issued	1,558,455	563,109	4,525,047	4,781,517
Common Stock Shares Outstanding [Member]
Equity, Class of Treasury Stock [Line Items]
Common stock repurchased	14,347,974	12,075,388	47,137,636	41,919,908
Shares repurchased related to employee stock-based compensation plans	1,145,017	211,829	2,499,729	2,287,761
Common shares issued	1,558,455	563,109	4,525,047	4,781,517

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Class of Stock [Line Items]
Common stock dividend paid	$ 0.16	$ 0.16	$ 0.16	$ 0.16	$ 0.48	$ 0.48
Purchase price of common stock repurchased on open market	$ 200,000,000			$ 175,000,000	$ 575,000,000	$ 775,000,000
Authorized share repurchased program remaining available amount	$ 180,000,000				$ 180,000,000
Common Stock [Member]
Class of Stock [Line Items]
Closing price of common stock	$ 14.47				$ 14.47
Common Stock Shares Outstanding [Member]
Class of Stock [Line Items]
Common shares repurchased	14,347,974			12,075,388	47,137,636	41,919,908

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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Numerator:
Net income attributable to Navient Corporation	$ 230	$ 237	$ 535	$ 711
Denominator:
Weighted average shares used to compute basic EPS	310	369	324	382
Effect of dilutive securities:
Dilutive effect of stock options, non-vested restricted stock, restricted stock units and Employee Stock Purchase Plans ("ESPPs")	6	6	5	7
Dilutive potential common shares	6	6	5	7
Weighted average shares used to compute diluted EPS	316	375	329	389
Basic earnings (loss) per common share attributable to Navient Corporation:
Continuing operations	$ 0.74	$ 0.64	$ 1.65	$ 1.86
Discontinued operations	0	0	0	0
Total	0.74	0.64	1.65	1.86
Diluted earnings (loss) per common share attributable to Navient Corporation:
Continuing operations	0.73	0.63	1.63	1.83
Discontinued operations	0	0	0	0
Total	$ 0.73	$ 0.63	$ 1.63	$ 1.83

Earnings per Common Share - S57

Earnings per Common Share - Schedule of Earnings per Common Share (Parenthetical) (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 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	4	6	5	4

Fair Value Measurements - Valua

Fair Value Measurements - Valuation of Financial Instruments that are Marked-to-Market on Recurring Basis (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Available-for-sale investments:
Available-for-sale investments	$ 4	$ 5
Derivative assets	949	728
Derivative liabilities	(1,318)	(1,515)
Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	930	726
Derivative liabilities	(272)	(160)
Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	18	2
Derivative liabilities	(742)	(988)
Other [Member]
Available-for-sale investments:
Derivative assets	1
Derivative liabilities	(11)	(2)
Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(293)	(365)
Fair Value Measurements Recurring [Member]
Available-for-sale investments:
Available-for-sale investments	4	5
Derivative assets	949	728
Total	953	733
Derivative liabilities	(1,318)	(1,515)
Total	(1,318)	(1,515)
Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	930	726
Derivative liabilities	(272)	(160)
Fair Value Measurements Recurring [Member] | Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	18	2
Derivative liabilities	(742)	(988)
Fair Value Measurements Recurring [Member] | Other [Member]
Available-for-sale investments:
Derivative assets	1
Derivative liabilities	(11)	(2)
Fair Value Measurements Recurring [Member] | Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(293)	(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	904	709
Total	908	714
Derivative liabilities	(510)	(547)
Total	(510)	(547)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	904	709
Derivative liabilities	(207)	(99)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative liabilities	(10)	(83)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(293)	(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	45	19
Total	45	19
Derivative liabilities	(808)	(968)
Total	(808)	(968)
Level 3 [Member] | Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	26	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	18	2
Derivative liabilities	(732)	(905)
Level 3 [Member] | Fair Value Measurements Recurring [Member] | Other [Member]
Available-for-sale investments:
Derivative assets	1
Derivative liabilities	$ (11)	$ (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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	$ (845)	$ (751)	$ (949)	$ (216)
Total gains/(losses) (realized and unrealized):
Included in earnings	58	48	123	(487)
Included in other comprehensive income	0	0	0	0
Settlements	24	6	63	6
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(763)	(697)	(763)	(697)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	82	48	187	(485)
Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	(37)	(82)	(44)	(88)
Total gains/(losses) (realized and unrealized):
Included in earnings	(2)	40	4	45
Included in other comprehensive income	0	0	0	0
Settlements		3	1	4
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(39)	(39)	(39)	(39)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	(2)	37	6	42
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	(801)	(654)	(903)	(117)
Total gains/(losses) (realized and unrealized):
Included in earnings	64	(5)	129	(538)
Included in other comprehensive income	0	0	0	0
Settlements	23	3	60	(1)
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(714)	(656)	(714)	(656)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	87	(2)	189	(536)
Other [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	(7)	(15)	(2)	(11)
Total gains/(losses) (realized and unrealized):
Included in earnings	(4)	13	(10)	6
Included in other comprehensive income	0	0	0	0
Settlements	1		2	3
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(10)	(2)	(10)	(2)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	$ (3)	$ 13	$ (8)	$ 9

Fair Value Measurements - Inclu

Fair Value Measurements - Included in Earnings (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 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	$ 58	$ 48	$ 123	$ (487)
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	81	50	183	(488)
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	$ (23)	$ (2)	$ (60)	$ 1

Fair Value Measurements - Unobs

Fair Value Measurements - Unobservable Data Used in Recurring Valuations of Level 3 (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 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	$ (763)
Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	658	$ 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	(724)	(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	$ (714)
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	$ (10)	$ (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	(10)
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	$ 8
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	6.20%

Fair Value Measurements - Fair

Fair Value Measurements - Fair Values of Financial Assets and Liabilities, Including Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total earning assets, Carrying Value	$ 120,038	$ 128,725
Short-term borrowings, Carrying Value	2,637	2,570
Long-term borrowings, Carrying Value	116,540	124,833
Total interest-bearing liabilities, Carrying Value	119,177	127,403
Total earning assets, Fair Value	118,345	125,982
Short-term borrowings, Fair Value	2,648	2,569
Long-term borrowings, Fair Value	112,258	118,471
Total interest-bearing liabilities, Fair Value	114,906	121,040
Floor Income Contracts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(293)	(365)
Derivative financial instruments, Fair Value	(293)	(365)
Interest Rate Swaps [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	658	566
Derivative financial instruments, Fair Value	658	566
Cross-Currency Interest Rate Swaps [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(724)	(986)
Derivative financial instruments, Fair Value	(724)	(986)
Other [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(10)	(2)
Derivative financial instruments, Fair Value	(10)	(2)
FFELP Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, Carrying Value	90,146	96,498
Loans receivable, Fair Value	88,765	94,377
Private Education Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, Carrying Value	24,010	26,394
Loans receivable, Fair Value	23,698	25,772
Difference [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total earning assets, Fair Value	(1,693)	(2,743)
Short-term borrowings, Fair Value	(11)	1
Long-term borrowings, Fair Value	4,282	6,362
Total interest-bearing liabilities, Fair Value	4,271	6,363
Excess of net asset fair value over carrying value	2,578	3,620
Difference [Member] | FFELP Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, Fair Value	(1,381)	(2,121)
Difference [Member] | Private Education Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, Fair Value	(312)	(622)
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and investments	5,882	5,833
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and investments	$ 5,882	$ 5,833

Fair Value Measurements - Fai63

Fair Value Measurements - Fair Values of Financial Assets and Liabilities, Including Derivative Financial Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 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	Sep. 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	Sep. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Other	$ 4,591	$ 4,682
Total assets	125,312	134,112
Private Education Loans Segment [Member]
Segment Reporting Information [Line Items]
Loans, net	24,010	26,394
Cash and investments	713	596
Other	1,946	1,988
Total assets	26,669	28,978
FFELP Loans Segment [Member]
Segment Reporting Information [Line Items]
Loans, net	90,146	96,498
Cash and investments	3,260	3,572
Other	1,954	2,015
Total assets	$ 95,360	$ 102,085

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total assets	$ 125,312	$ 134,112
Business Services Segment [Member]
Segment Reporting Information [Line Items]
Total assets	638	657
Other Segment [Member]
Segment Reporting Information [Line Items]
Total assets	$ 2,600	$ 2,400

Segment Reporting - Segment Res

Segment Reporting - Segment Results and Reconciliations to GAAP (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Interest income:
Education loans	$ 1,032	$ 1,074	$ 3,096	$ 3,227
Other loans	2	1	5	5
Cash and investments	5	2	17	6
Total interest income	1,039	1,077	3,118	3,238
Total interest expense	627	524	1,791	1,553
Net interest income (loss)	412	553	1,327	1,685
Less: provisions for loan losses	106	123	327	446
Net interest income (loss) after provisions for loan losses	306	430	1,000	1,239
Other income (loss):
Servicing revenue	76	76	230	258
Asset recovery and business processing revenue	97	85	288	273
Other income (loss)	137	20	75	88
Gains on sales of loans and investments				12
Gains on debt repurchases	1		1
Total other income	311	181	594	631
Expenses:
Direct operating expenses	177	174	538	514
Overhead expenses	51	54	168	169
Total operating expenses	228	228	706	683
Goodwill and acquired intangible asset impairment and amortization	12	3	22	7
Restructuring and other reorganization expenses				32
Total expenses	240	231	728	722
Income (loss) from continuing operations, before income tax expense (benefit)	377	380	866	1,148
Income tax expense (benefit)	147	144	331	438
Net income (loss) from continuing operations	230	236	535	710
Income (loss) from discontinued operations, net of tax expense (benefit)		1		1
Net income (loss)	230	237	535	711
Reclassifications [Member]
Interest income:
Education loans	28	164	222	489
Total interest income	28	164	222	489
Total interest expense	7	11	25	27
Net interest income (loss)	21	153	197	462
Net interest income (loss) after provisions for loan losses	21	153	197	462
Other income (loss):
Other income (loss)	(21)	(153)	(197)	(462)
Total other income	(21)	(153)	(197)	(462)
Additions/ (Subtractions) [Member]
Interest income:
Education loans	(14)	(60)	(99)	(178)
Total interest income	(14)	(60)	(99)	(178)
Net interest income (loss)	(14)	(60)	(99)	(178)
Net interest income (loss) after provisions for loan losses	(14)	(60)	(99)	(178)
Other income (loss):
Other income (loss)	153	168	260	535
Total other income	153	168	260	535
Expenses:
Goodwill and acquired intangible asset impairment and amortization	12	3	22	7
Restructuring and other reorganization expenses				32
Total expenses	12	3	22	39
Income (loss) from continuing operations, before income tax expense (benefit)	127	105	139	318
Income tax expense (benefit)	54	42	62	130
Net income (loss) from continuing operations	73	63	77	188
Net income (loss)	73	63	77	188
Total Adjustments [Member]
Interest income:
Education loans	14	104	123	311
Total interest income	14	104	123	311
Total interest expense	7	11	25	27
Net interest income (loss)	7	93	98	284
Net interest income (loss) after provisions for loan losses	7	93	98	284
Other income (loss):
Other income (loss)	132	15	63	73
Total other income	132	15	63	73
Expenses:
Total operating expenses	0	0	0	0
Goodwill and acquired intangible asset impairment and amortization	12	3	22	7
Restructuring and other reorganization expenses				32
Total expenses	12	3	22	39
Income (loss) from continuing operations, before income tax expense (benefit)	127	105	139	318
Income tax expense (benefit)	54	42	62	130
Net income (loss) from continuing operations	73	63	77	188
Net income (loss)	73	63	77	188
Operating Segments [Member]
Interest income:
Education loans	1,018	970	2,973	2,916
Other loans	2	1	5	5
Cash and investments	5	2	17	6
Total interest income	1,025	973	2,995	2,927
Total interest expense	620	513	1,766	1,526
Net interest income (loss)	405	460	1,229	1,401
Less: provisions for loan losses	106	123	327	446
Net interest income (loss) after provisions for loan losses	299	337	902	955
Other income (loss):
Servicing revenue	76	76	230	258
Asset recovery and business processing revenue	97	85	288	273
Other income (loss)	5	5	12	15
Gains on sales of loans and investments				12
Gains on debt repurchases	1		1
Total other income	179	166	531	558
Expenses:
Direct operating expenses	177	174	538	514
Overhead expenses	51	54	168	169
Total operating expenses	228	228	706	683
Total expenses	228	228	706	683
Income (loss) from continuing operations, before income tax expense (benefit)	250	275	727	830
Income tax expense (benefit)	93	102	269	308
Net income (loss) from continuing operations	157	173	458	522
Income (loss) from discontinued operations, net of tax expense (benefit)		1		1
Net income (loss)	157	174	458	523
Operating Segments [Member] | FFELP Loans Segment [Member]
Interest income:
Education loans	617	526	1,760	1,581
Cash and investments	4	2	12	5
Total interest income	621	528	1,772	1,586
Total interest expense	413	317	1,159	928
Net interest income (loss)	208	211	613	658
Less: provisions for loan losses	13	7	30	19
Net interest income (loss) after provisions for loan losses	195	204	583	639
Other income (loss):
Servicing revenue	13	16	45	78
Gains on sales of loans and investments				12
Total other income	13	16	45	90
Expenses:
Direct operating expenses	99	109	305	336
Total operating expenses	99	109	305	336
Total expenses	99	109	305	336
Income (loss) from continuing operations, before income tax expense (benefit)	109	111	323	393
Income tax expense (benefit)	40	41	120	146
Net income (loss) from continuing operations	69	70	203	247
Net income (loss)	69	70	203	247
Operating Segments [Member] | Private Education Loans Segment [Member]
Interest income:
Education loans	401	444	1,213	1,335
Cash and investments			2
Total interest income	401	444	1,215	1,335
Total interest expense	178	170	522	514
Net interest income (loss)	223	274	693	821
Less: provisions for loan losses	92	117	296	428
Net interest income (loss) after provisions for loan losses	131	157	397	393
Other income (loss):
Servicing revenue	4	5	11	17
Total other income	4	5	11	17
Expenses:
Direct operating expenses	40	39	124	127
Total operating expenses	40	39	124	127
Total expenses	40	39	124	127
Income (loss) from continuing operations, before income tax expense (benefit)	95	123	284	283
Income tax expense (benefit)	35	46	105	105
Net income (loss) from continuing operations	60	77	179	178
Net income (loss)	60	77	179	178
Operating Segments [Member] | Business Services Segment [Member]
Other income (loss):
Servicing revenue	155	161	470	487
Asset recovery and business processing revenue	97	85	288	273
Other income (loss)		2	2	4
Total other income	252	248	760	764
Expenses:
Direct operating expenses	124	123	383	355
Total operating expenses	124	123	383	355
Total expenses	124	123	383	355
Income (loss) from continuing operations, before income tax expense (benefit)	128	125	377	409
Income tax expense (benefit)	47	46	140	152
Net income (loss) from continuing operations	81	79	237	257
Net income (loss)	81	79	237	257
Operating Segments [Member] | Other Segment [Member]
Interest income:
Other loans	2	1	5	5
Cash and investments	1		3	1
Total interest income	3	1	8	6
Total interest expense	29	26	85	84
Net interest income (loss)	(26)	(25)	(77)	(78)
Less: provisions for loan losses	1	(1)	1	(1)
Net interest income (loss) after provisions for loan losses	(27)	(24)	(78)	(77)
Other income (loss):
Other income (loss)	5	3	10	11
Gains on debt repurchases	1		1
Total other income	6	3	11	11
Expenses:
Direct operating expenses	10	9	22	20
Overhead expenses	51	54	168	169
Total operating expenses	61	63	190	189
Total expenses	61	63	190	189
Income (loss) from continuing operations, before income tax expense (benefit)	(82)	(84)	(257)	(255)
Income tax expense (benefit)	(29)	(31)	(96)	(95)
Net income (loss) from continuing operations	(53)	(53)	(161)	(160)
Income (loss) from discontinued operations, net of tax expense (benefit)		1		1
Net income (loss)	(53)	(52)	(161)	(159)
Eliminations [Member]
Other income (loss):
Servicing revenue	(96)	(106)	(296)	(324)
Total other income	(96)	(106)	(296)	(324)
Expenses:
Direct operating expenses	(96)	(106)	(296)	(324)
Total operating expenses	(96)	(106)	(296)	(324)
Total expenses	$ (96)	$ (106)	$ (296)	$ (324)

Segment Reporting - Segment R68

Segment Reporting - Segment Result and Reconciliations to GAAP - Core Earnings Adjustments (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income after provisions for loan losses	$ 306	$ 430	$ 1,000	$ 1,239
Total other income (loss)	311	181	594	631
Operating expenses	228	228	706	683
Goodwill and acquired intangible asset impairment and amortization	12	3	22	7
Restructuring and other reorganization expenses				32
Income tax expense (benefit)	147	144	331	438
Net income attributable to Navient Corporation	230	237	535	711
Total Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income after provisions for loan losses	7	93	98	284
Total other income (loss)	132	15	63	73
Operating expenses	0	0	0	0
Goodwill and acquired intangible asset impairment and amortization	12	3	22	7
Restructuring and other reorganization expenses				32
Total "Core Earnings" adjustments to GAAP	127	105	139	318
Income tax expense (benefit)	54	42	62	130
Net income attributable to Navient Corporation	73	63	77	188
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	12	3	22	7
Total "Core Earnings" adjustments to GAAP	(12)	(3)	(22)	(7)
Net Impact of Derivative Accounting [Member] | Total Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income after provisions for loan losses	7	93	98	284
Total other income (loss)	132	15	63	73
Operating expenses	0	0	0	0
Total "Core Earnings" adjustments to GAAP	139	108	161	357
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				32
Total "Core Earnings" adjustments to GAAP				$ (32)

Segment Reporting - Core Earnin

Segment Reporting - Core Earnings Adjustments to GAAP (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
"Core Earnings" adjustments to GAAP:
Net tax effect	$ (147)	$ (144)	$ (331)	$ (438)
Net income attributable to Navient Corporation	230	237	535	711
Total Adjustments [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	127	105	139	318
Net tax effect	(54)	(42)	(62)	(130)
Net income attributable to Navient Corporation	73	63	77	188
Total Adjustments [Member] | Net Impact of Acquired Intangibles [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	(12)	(3)	(22)	(7)
Total Adjustments [Member] | Net Impact of Derivative Accounting [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	$ 139	$ 108	$ 161	357
Total Adjustments [Member] | Net Impact from Spin-Off of SLM BankCo [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP				$ (32)

Segment Reporting - Core Earn70

Segment Reporting - Core Earnings Adjustments to GAAP (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2016USD ($)
Segment Reporting [Abstract]
Amount that will be equal to cumulative net unrealized gain or loss over the life of the contract	$ 0