Navient (NAVI) 10-Q 27 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2017shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
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	263,012,203

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Investments
Available-for-sale	$ 3	$ 3
Other	293	347
Total investments	296	350
Cash and cash equivalents	1,248	1,253
Restricted cash and investments	3,386	3,600
Goodwill and acquired intangible assets, net	727	670
Other assets	4,088	4,193
Total assets	117,085	121,136
Liabilities
Short-term borrowings	3,281	2,334
Long-term borrowings	108,557	112,368
Other liabilities	1,697	2,711
Total liabilities	113,535	117,413
Commitments and contingencies
Equity
Common stock, par value $0.01 per share, 1.125 billion shares authorized: 440 million and 436 million shares issued, respectively	4	4
Additional paid-in capital	3,067	3,022
Accumulated other comprehensive income (net of tax expense of $9 and $3, respectively)	16	6
Retained earnings	3,130	2,890
Total Navient Corporation stockholders' equity before treasury stock	6,217	5,922
'Less: Common stock held in treasury at cost: 177 million and 145 million shares, respectively	(2,691)	(2,223)
Total Navient Corporation stockholders' equity	3,526	3,699
Noncontrolling interest	24	24
Total equity	3,550	3,723
Total liabilities and equity	117,085	121,136
FFELP Loans [Member]
Assets
Loans, net	83,916	87,730
Private Education Loans [Member]
Assets
Loans, net	23,424	23,340
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Assets
Loans, net	100,777	104,008
Investments
Restricted cash	3,235	3,434
Other assets, Net	934	(11)
Liabilities
Short-term borrowings	1,373	1,078
Long-term borrowings	92,903	95,492
Net assets of consolidated variable interest entities	10,670	10,861
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loans [Member]
Assets
Loans, net	79,942	83,429
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Private Education Loans [Member]
Assets
Loans, net	20,835	20,500
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Other Loans [Member]
Assets
Loans, net	$ 0	$ 79

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Allowance for loans losses	$ 1,360	$ 1,433
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,125,000,000	1,125,000,000
Common stock, shares issued	439,573,654	436,037,666
Tax expense for accumulated other comprehensive income	$ 9	$ 3
Common stock held in treasury	176,561,451	145,173,548
FFELP Loans [Member]
Allowance for loans losses	$ 61	$ 67
Private Education Loans [Member]
Allowance for loans losses	$ 1,287	$ 1,351

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest income:
Cash and investments	$ 12	$ 5	$ 29	$ 17
Total interest income	1,140	1,039	3,224	3,118
Total interest expense	785	627	2,178	1,791
Net interest income	355	412	1,046	1,327
Less: provisions for loan losses	105	106	317	327
Net interest income after provisions for loan losses	250	306	729	1,000
Other income (loss):
Servicing revenue	75	76	221	230
Asset recovery and business processing revenue	157	97	367	288
Other income (loss)	4		3	(36)
Gains on sales of loans and investments	3		3
Gains (losses) on debt repurchases	(1)	1	(1)	1
Gains (losses) on derivative and hedging activities, net	25	137	(16)	111
Total other income	263	311	577	594
Expenses:
Salaries and benefits	128	122	381	379
Other operating expenses	110	106	326	327
Total operating expenses	238	228	707	706
Goodwill and acquired intangible asset impairment and amortization expense	6	12	17	22
Total expenses	244	240	724	728
Income before income tax expense	269	377	582	866
Income tax expense	93	147	206	331
Net income attributable to Navient Corporation	$ 176	$ 230	$ 376	$ 535
Basic earnings per common share attributable to Navient Corporation	$ 0.65	$ 0.74	$ 1.35	$ 1.65
Average common shares outstanding	269	310	279	324
Diluted earnings per common share attributable to Navient Corporation	$ 0.64	$ 0.73	$ 1.32	$ 1.63
Average common and common equivalent shares outstanding	274	316	285	329
Dividends per common share attributable to Navient Corporation	$ 0.16	$ 0.16	$ 0.48	$ 0.48
FFELP Loans [Member]
Interest income:
Total interest income	$ 681	$ 631	$ 1,979	$ 1,883
Less: provisions for loan losses	10	13	30	30
Private Education Loans [Member]
Interest income:
Total interest income	445	401	1,204	1,213
Less: provisions for loan losses	95	92	285	296
Other Loans [Member]
Interest income:
Total interest income	$ 2	$ 2	$ 12	$ 5

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 176	$ 230	$ 376	$ 535
Other comprehensive income (loss):
Unrealized hedging gains (losses) on derivatives	15	74	16	(118)
Reclassification adjustments for derivative (gains) losses included in net income (interest expense)		(1)		(1)
Total unrealized gains (losses) on derivatives	15	73	16	(119)
Income tax (expense) benefit	(6)	(28)	(6)	44
Other comprehensive income (loss), net of tax expense (benefit)	9	45	10	(75)
Total comprehensive income attributable to Navient Corporation	$ 185	$ 275	$ 386	$ 460

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, 2015	$ 3,933	$ 4	$ (1,425)		$ 2,967	$ (51)	$ 2,414	$ 3,909	$ 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 impact/benefit of 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	$ 3,668	$ 4	$ (2,032)		3,006	(126)	2,792	3,644	24
Ending Balance, Shares at Sep. 30, 2016		435,086,703	(131,988,233)	303,098,470
Beginning Balance, Value at Jun. 30, 2016	3,637	$ 4	$ (1,816)		2,985	(171)	2,611	3,613	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	$ 3,668	$ 4	$ (2,032)		3,006	(126)	2,792	3,644	24
Ending Balance, Shares at Sep. 30, 2016		435,086,703	(131,988,233)	303,098,470
Beginning Balance, Value at Dec. 31, 2016	3,723	$ 4	$ (2,223)		3,022	6	2,890	3,699	24
Beginning Balance, Shares at Dec. 31, 2016		436,037,666	(145,173,548)	290,864,118
Comprehensive income:
Net income (loss)	376						376	376
Other comprehensive income (loss), net of tax	10					10		10
Total comprehensive income	386							386
Cash dividends:
Common stock	(133)						(133)	(133)
Dividend equivalent units related to employee stock-based compensation plans	(3)						(3)	(3)
Issuance of common shares	$ 19				19			19
Issuance of common shares, Shares	3,535,988	3,535,988		3,535,988
Stock-based compensation expense	$ 26				26			26
Common stock repurchased	(440)		$ (440)					(440)
Common stock repurchased, Shares			(29,646,374)	(29,646,374)
Shares repurchased related to employee stock-based compensation plans	$ (28)		$ (28)					(28)
Shares repurchased related to employee stock-based compensation plans, Shares	(1,741,529)		(1,741,529)	(1,741,529)
Ending Balance, Value at Sep. 30, 2017	$ 3,550	$ 4	$ (2,691)		3,067	16	3,130	3,526	24
Ending Balance, Shares at Sep. 30, 2017		439,573,654	(176,561,451)	263,012,203
Beginning Balance, Value at Jun. 30, 2017	3,564	$ 4	$ (2,524)		3,056	7	2,997	3,540	24
Beginning Balance, Shares at Jun. 30, 2017		439,187,978	(165,083,710)	274,104,268
Comprehensive income:
Net income (loss)	176						176	176
Other comprehensive income (loss), net of tax	9					9		9
Total comprehensive income	185							185
Cash dividends:
Common stock	(43)						(43)	(43)
Issuance of common shares	$ 4				4			4
Issuance of common shares, Shares	385,676	385,676		385,676
Stock-based compensation expense	$ 7				7			7
Common stock repurchased	(165)		$ (165)					(165)
Common stock repurchased, Shares			(11,346,367)	(11,346,367)
Shares repurchased related to employee stock-based compensation plans	$ (2)		$ (2)					(2)
Shares repurchased related to employee stock-based compensation plans, Shares	(131,374)		(131,374)	(131,374)
Ending Balance, Value at Sep. 30, 2017	$ 3,550	$ 4	$ (2,691)		$ 3,067	$ 16	$ 3,130	$ 3,526	$ 24
Ending Balance, Shares at Sep. 30, 2017		439,573,654	(176,561,451)	263,012,203

Consolidated Statements of Cha7

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
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, 2017	Sep. 30, 2016
Operating activities
Net income	$ 376	$ 535
Adjustments to reconcile net income to net cash provided by
Gains on sales of loans and investments	(3)
Losses (gains) on debt repurchases	1	(1)
Goodwill and acquired intangible asset impairment and amortization expense	17	22
Stock-based compensation expense	26	22
Unrealized gains on derivative and hedging activities	(25)	(303)
Provisions for loan losses	317	327
Decrease in accrued interest receivable	90	98
Decrease in accrued interest payable	(33)	(159)
Decrease in other assets	213	489
(Decrease) increase in other liabilities	(65)	84
Total net cash provided by operating activities	914	1,114
Investing activities
Education loans acquired	(6,428)	(2,845)
Reduction of education loans:
Installment payments, claims and other	11,290	11,210
Other investing activities, net	(70)	(4)
Proceeds from maturities of available-for-sale securities		1
Purchases of other securities	(1)	(44)
Proceeds from maturities of other securities	19	44
Purchase of subsidiaries, net of cash acquired	(82)
Total net cash provided by investing activities	5,072	8,498
Financing activities
Borrowings collateralized by loans in trust - issued	7,024	4,796
Borrowings collateralized by loans in trust - repaid	(10,929)	(9,830)
Other short-term borrowings repaid	(25)
Other long-term notes issued	1,353	1,231
Other long-term notes repaid	(1,342)	(1,849)
Other financing activities, net	(135)	9
Common stock repurchased	(440)	(575)
Common dividends paid	(133)	(154)
Total net cash used in financing activities	(5,991)	(9,383)
Net (decrease) increase in cash and cash equivalents	(5)	229
Cash and cash equivalents at beginning of period	1,253	1,594
Cash and cash equivalents at end of period	1,248	1,823
Cash disbursements made (refunds received) for:
Interest	2,121	1,683
Income taxes paid	107	164
Income taxes received		(2)
Noncash activity:
Investing activity - Education loans and restricted cash acquired	1,552
Operating activity - Other assets acquired and other liabilities assumed, net	14
Financing activity - Borrowings assumed in acquisition of education loans and restricted cash	1,566
Asset-backed Securities, Securitized Loans and Receivables [Member]
Financing activities
Asset-backed commercial paper conduits, net	(1,364)	(3,011)
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Reduction of education loans:
Decrease in restricted cash - variable interest entities	$ 344	$ 136

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
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, 2017 are not necessarily indicative of the results for the year ending December 31, 2017 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 10-K”). 10-Q 10-K. Reclassifications Certain reclassifications have been made to the balances as of and for the three and nine months ended September 30, 2016 to be consistent with classifications adopted for 2017, and had no effect on net income, total assets, or total liabilities. Education Loan Interest Income and Allowance for Loan Losses In June 2017, Navient purchased education loans with an unpaid principal amount of $6.5 billion comprised of $3.5 billion in FFELP Loans and $3.0 billion in Private Education Loans. Purchased Credit Impaired (“PCI”) Loans Loans acquired with evidence of deterioration of credit quality since origination for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable are PCI loans accounted for under Accounting Standard Codification (“ASC”) 310-30, The Company aggregates loans with common risk characteristics into pools and accounts for each pool as a single asset with a single composite interest rate and an aggregate expectation of cash flows. The pools when formed are initially recorded at fair value. The Company recognizes interest income based on each pool’s effective interest rate which is based on our estimate of all cash flows expected to be received and includes an assumption about prepayment rates. The pools are tested quarterly for impairment by re-estimating Based on the credit attributes discussed above, we concluded that $261 million principal amount of Private Education Loans acquired in June 2017 are required to be accounted for as PCI loans with a fair value and resulting carry value of $101 million as of the acquisition date. As of acquisition, this portfolio’s contractually required payments receivable (the total undiscounted amount of all uncollected contractual principal and interest payments both past due and scheduled for the future, adjusted for prepayments) was $411 million with an estimated accretable yield (income expected to be recognized in future periods) of $108 million. As of September 30, 2017, the carrying amount was $100 million with no valuation allowance recorded. Purchased Non-Credit Loans acquired that do not have evidence of credit deterioration since origination are recorded at fair value with no allowance for loan losses established at the acquisition date. Loan premiums and discounts are amortized as a part of interest income using the interest method under ASC 310-20, Asset Recovery and Business Processing Revenue In the third quarter of 2017, $47 million of previously deferred asset recovery revenue, net of a reserve, was recognized as revenue related to loans for which the Company performs default aversion services. In connection with providing these services, a fee is received when a loan is initially placed with us and we provide the services for the remaining life of the loan for no additional fee. As a result, in accordance with GAAP, the fee was deferred net of estimated rebates, and recognized as revenue as it was earned over the expected lives of the related loans. In the third quarter of 2017, the Company was notified that it would no longer perform these services after 2017 due to the termination of the related contract as of December 31, 2017. In accordance with GAAP, we recognized this previously deferred revenue during the three-month period ended September 30, 2017 to reflect a shortened period over which it is expected to be earned. 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, We will adopt the new standard as of January 1, 2018, the effective date. The new standard permits the use of either the retrospective or cumulative effect transition method. Our implementation efforts to date include the identification of revenue and review of related contracts within the scope of the new standard. We have not yet identified nor do we anticipate material changes in the timing of revenue recognition. However, our review is ongoing as we continue to evaluate both contract revenue and certain contract costs. Classification and Measurement On January 5, 2016, the FASB issued ASU No. 2016-01, Leases On February 25, 2016, the FASB issued ASU No. 2016-02, right-of-use Stock Compensation On March 30, 2016, the FASB issued ASU No. 2016-09, paid-in Allowance for Loan Losses On June 16, 2016, the FASB issued ASU No. 2016-13, Intra-Entity Transfer of Assets On October 24, 2016, the FASB issued ASU No. 2016-16, non-inventory Goodwill Impairment On January 26, 2017, the FASB issued ASU No. 2017-04, two-step Hedging Activities On August 28, 2017, the FASB issued ASU No. 2017-12,

Allowance for Loan Losses

Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2017
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 Non-Credit We segregate our Private Education Loan portfolio into two classes of loans — traditional and non-traditional. Non-traditional for-profit not-for-profit non-traditional non-traditional. Allowance for Loan Losses Metrics Three Months Ended September 30, 2017 (Dollars in millions) FFELP Loans Private Education Loans Other Loans Total Allowance for Loan Losses Beginning balance $ 61 $ 1,286 $ 15 $ 1,362 Total provision 10 95 — 105 Charge-offs (1) (10 ) (96 ) (3 ) (109 ) Reclassification of interest reserve (2) — 2 — 2 Ending balance (3) $ 61 $ 1,287 $ 12 $ 1,360 Allowance Ending Balance: Individually evaluated for impairment $ — $ 1,169 $ 10 $ 1,179 Collectively evaluated for impairment: Excluding Purchased Non-Credit 61 118 2 181 Purchased Non-Credit (3) — — — — Purchased Credit Impaired Loans (3) — — — — Ending total allowance $ 61 $ 1,287 $ 12 $ 1,360 Loans Ending Balance: Individually evaluated for impairment $ — $ 10,961 $ 30 $ 10,991 Collectively evaluated for impairment: Excluding Purchased Non-Credit 79,923 11,790 34 91,747 Purchased Non-Credit (3) 3,362 2,656 — 6,018 Purchased Credit Impaired Loans (3) — 258 — 258 Ending total loans (4) $ 83,285 $ 25,665 $ 64 $ 109,014 Charge-offs as a percentage of average loans in repayment (annualized) .05 % 1.63 % 16.22 % Allowance coverage of charge-offs (annualized) 1.7 3.4 .9 Allowance as a percentage of the ending total loan balance (3) .07 % 5.02 % 18.59 % Allowance as a percentage of the ending loans in repayment (3) .09 % 5.73 % 18.59 % Ending total loans (4) $ 83,285 $ 25,665 $ 64 Average loans in repayment $ 68,168 $ 23,112 $ 85 Ending loans in repayment $ 66,220 $ 22,448 $ 64 (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 charged-off Charged-Off (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) See “Note 1 — Significant Accounting Policies — Education Loan Interest Income and Allowance for Loan Losses” for a description of our policy for the $6.5 billion of loans ($3.5 billion of FFELP and $3.0 billion of Private Education) purchased in June 2017 accounted for as either Purchased Credit Impaired Loans or Purchased Non-Credit Non-Credit (4) Ending total loans for Private Education Loans includes the receivable for partially charged-off Three Months Ended September 30, 2016 (Dollars in millions) FFELP Loans Private Education Loans Other Loans Total Allowance for Loan Losses Beginning balance $ 66 $ 1,410 $ 15 $ 1,491 Total provision 13 92 1 106 Charge-offs (1) (13 ) (112 ) (1 ) (126 ) Reclassification of interest reserve (2) — 2 — 2 Ending balance $ 66 $ 1,392 $ 15 $ 1,473 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,153 $ 11 $ 1,164 Ending balance: collectively evaluated for impairment 66 239 4 309 Ending total allowance $ 66 $ 1,392 $ 15 $ 1,473 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,182 $ 32 $ 11,214 Ending balance: collectively evaluated for impairment (3) 89,201 14,682 99 103,982 Ending total loans (3) $ 89,201 $ 25,864 $ 131 $ 115,196 Charge-offs as a percentage of average loans in repayment (annualized) .07 % 1.94 % 1.87 % Allowance coverage of charge-offs (annualized) 1.2 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 .09 % 6.17 % 11.40 % Ending total loans (3) $ 89,201 $ 25,864 $ 131 Average loans in repayment $ 72,927 $ 22,959 $ 102 Ending loans in repayment $ 72,203 $ 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 charged-off Charged-Off (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 Nine Months Ended September 30, 2017 (Dollars in millions) FFELP Loans Private Education Loans Other Loans Total Allowance for Loan Losses Beginning balance $ 67 $ 1,351 $ 15 $ 1,433 Total provision 30 285 2 317 Charge-offs (1) (36 ) (355 ) (5 ) (396 ) Reclassification of interest reserve (2) — 6 — 6 Ending balance (3) $ 61 $ 1,287 $ 12 $ 1,360 Allowance Ending Balance: Individually evaluated for impairment $ — $ 1,169 $ 10 $ 1,179 Collectively evaluated for impairment: Excluding Purchased Non-Credit 61 118 2 181 Purchased Non-Credit (3) — — — — Purchased Credit Impaired Loans (3) — — — — Ending total allowance $ 61 $ 1,287 $ 12 $ 1,360 Loans Ending Balance: Individually evaluated for impairment $ — $ 10,961 $ 30 $ 10,991 Collectively evaluated for impairment: Excluding Purchased Non-Credit 79,923 11,790 34 91,747 Purchased Non-Credit (3) 3,362 2,656 — 6,018 Purchased Credit Impaired Loans (3) — 258 — 258 Ending total loans (4) $ 83,285 $ 25,665 $ 64 $ 109,014 Charge-offs as a percentage of average loans in repayment (annualized) .07 % 2.14 % 3.92 % Allowance coverage of charge-offs (annualized) 1.3 2.7 1.7 Allowance as a percentage of the ending total loan balance (3) .07 % 5.02 % 18.59 % Allowance as a percentage of the ending loans in repayment (3) .09 % 5.73 % 18.59 % Ending total loans (4) $ 83,285 $ 25,665 $ 64 Average loans in repayment $ 68,791 $ 22,180 $ 186 Ending loans in repayment $ 66,220 $ 22,448 $ 64 (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 charged-off Charged-Off (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) See “Note 1 — Significant Accounting Policies — Education Loan Interest Income and Allowance for Loan Losses” for a description of our policy for the $6.5 billion of loans ($3.5 billion of FFELP and $3.0 billion of Private Education) purchased in June 2017 accounted for as either Purchased Credit Impaired Loans or Purchased Non-Credit Non-Credit (4) Ending total loans for Private Education Loans includes the receivable for partially charged-off Nine Months Ended September 30, 2016 (Dollars in millions) FFELP Loans Private Education Loans Other Loans Total Allowance for Loan Losses Beginning balance $ 78 $ 1,471 $ 15 $ 1,564 Total provision 30 296 1 327 Charge-offs (1) (42 ) (383 ) (1 ) (426 ) Reclassification of interest reserve (2) — 8 — 8 Ending balance $ 66 $ 1,392 $ 15 $ 1,473 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,153 $ 11 $ 1,164 Ending balance: collectively evaluated for impairment 66 239 4 309 Ending total allowance $ 66 $ 1,392 $ 15 $ 1,473 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,182 $ 32 $ 11,214 Ending balance: collectively evaluated for impairment (3) 89,201 14,682 99 103,982 Ending total loans (3) $ 89,201 $ 25,864 $ 131 $ 115,196 Charge-offs as a percentage of average loans in repayment (annualized) .08 % 2.17 % 1.76 % Allowance coverage of charge-offs (annualized) 1.2 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 .09 % 6.17 % 11.40 % Ending total loans (3) $ 89,201 $ 25,864 $ 131 Average loans in repayment $ 73,200 $ 23,564 $ 89 Ending loans in repayment $ 72,203 $ 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 charged-off Charged-Off (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 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 charged-off Private Education Loans Credit Quality Indicators September 30, 2017 December 31, 2016 (Dollars in millions) Balance (3) % of Balance Balance (3) % of Balance Credit Quality Indicators School Type/FICO Scores: Traditional $ 22,828 92 % $ 22,367 92 % Non-Traditional (1) 2,066 8 1,966 8 Total $ 24,894 100 % $ 24,333 100 % Cosigners: With cosigner $ 16,137 65 % $ 15,610 64 % Without cosigner 8,757 35 8,723 36 Total $ 24,894 100 % $ 24,333 100 % Seasoning (2) 1-12 $ 1,343 5 % $ 1,340 5 % 13-24 1,072 4 1,271 5 25-36 1,541 6 1,908 8 37-48 2,388 10 2,723 11 More than 48 payments 17,376 70 15,698 65 Not yet in repayment 1,174 5 1,393 6 Total $ 24,894 100 % $ 24,333 100 % (1) Defined as loans to customers attending for-profit not-for-profit (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) $ 5,199 $ 5,871 Loans in forbearance (2) 11,866 10,490 Loans in repayment and percentage of each status: Loans current 58,172 87.8 % 61,977 87.8 % Loans delinquent 31-60 (3) 2,565 3.9 2,820 4.0 Loans delinquent 61-90 (3) 1,566 2.4 1,325 1.9 Loans delinquent greater than 90 days (3) 3,917 5.9 4,435 6.3 Total FFELP Loans in repayment 66,220 100 % 70,557 100 % Total FFELP Loans, gross 83,285 86,918 FFELP Loan unamortized premium 692 879 Total FFELP Loans 83,977 87,797 FFELP Loan allowance for losses (61 ) (67 ) FFELP Loans, net $ 83,916 $ 87,730 Percentage of FFELP Loans in repayment 79.5 % 81.2 % Delinquencies as a percentage of FFELP Loans in repayment 12.2 % 12.2 % FFELP Loans in forbearance as a percentage of loans in repayment and forbearance 15.2 % 12.9 % (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 such as disaster relief. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due. Traditional Private Education Loan Delinquencies September 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 1,065 $ 1,271 Loans in forbearance (2) 1,117 700 Loans in repayment and percentage of each status: Loans current 19,558 94.7 % 19,020 93.3 % Loans delinquent 31-60 (3) 368 1.8 444 2.2 Loans delinquent 61-90 (3) 234 1.1 269 1.3 Loans delinquent greater than 90 days (3) 486 2.4 663 3.2 Total traditional loans in repayment 20,646 100 % 20,396 100 % Total traditional loans, gross 22,828 22,367 Traditional loans unamortized discount (831 ) (402 ) Total traditional loans 21,997 21,965 Traditional loans receivable for partially charged-off 502 526 Traditional loans allowance for losses (1,086 ) (1,138 ) Traditional loans, net $ 21,413 $ 21,353 Percentage of traditional loans in repayment 90.4 % 91.2 % Delinquencies as a percentage of traditional loans in repayment 5.3 % 6.7 % Loans in forbearance as a percentage of loans in repayment and forbearance 5.1 % 3.3 % (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 such as disaster relief, consistent with established loan program servicing policies and procedures. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due. Non-Traditional Private Education Loan Delinquencies September 30, December 31, (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 109 $ 122 Loans in forbearance (2) 155 90 Loans in repayment and percentage of each status: Loans current 1,596 88.5 % 1,486 84.8 % Loans delinquent 31-60 (3) 62 3.5 78 4.5 Loans delinquent 61-90 (3) 43 2.4 52 2.9 Loans delinquent greater than 90 days (3) 101 5.6 138 7.8 Total non-traditional 1,802 100 % 1,754 100 % Total non-traditional 2,066 1,966 Non-traditional (123 ) (55 ) Total non-traditional 1,943 1,911 Non-traditional charged-off 269 289 Non-traditional (201 ) (213 ) Non-traditional $ 2,011 $ 1,987 Percentage of non-traditional 87.2 % 89.2 % Delinquencies as a percentage of non-traditional 11.5 % 15.2 % Loans in forbearance as a percentage of loans in repayment and forbearance 7.9 % 4.9 % (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 such as disaster relief, 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 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 charged-off The following table summarizes the activity in the receivable for partially charged-off Three Months Ended Nine Months Ended (Dollars in millions) 2017 2016 2017 2016 Receivable at beginning of period $ 784 $ 847 $ 815 $ 881 Expected future recoveries of current period defaults (1) 24 28 88 96 Recoveries (2) (37 ) (44 ) (121 ) (140 ) Charge-offs (3) — (3 ) (11 ) (9 ) Receivable at end of period $ 771 $ 828 $ 771 $ 828 (1) Represents our estimate of the amount to be collected in the future. (2) Current period cash collections. (3) Represents the current period recovery shortfall — the difference between what was expected to be collected and what was actually collected. 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 60 percent and 61 percent of the loans granted forbearance have qualified as a TDR loan at September 30, 2017 and December 31, 2016, respectively. The unpaid principal balance of TDR loans that were in an interest rate reduction plan as of September 30, 2017 and December 31, 2016 was $2.7 billion and $2.6 billion, respectively. At September 30, 2017 and December 31, 2016, 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 Investment (1) Unpaid Principal Balance Related Allowance September 30, 2017 Private Education Loans — Traditional $ 9,245 $ 9,282 $ 985 Private Education Loans — Non-Traditional 1,294 1,298 184 Total $ 10,539 $ 10,580 $ 1,169 December 31, 2016 Private Education Loans — Traditional $ 9,386 $ 9,429 $ 1,003 Private Education Loans — Non-Traditional 1,373 1,376 187 Total $ 10,759 $ 10,805 $ 1,190 (1) The recorded investment is equal to the unpaid principal balance and accrued interest receivable net of unamortized deferred fees and costs. The following table provides the average recorded investment and interest income recognized for our TDR loans. Three Months Ended September 30, 2017 2016 (Dollars in millions) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Private Education Loans — Traditional $ 9,257 $ 153 $ 9,367 $ 140 Private Education Loans — Non-Traditional 1,305 27 1,402 27 Total $ 10,562 $ 180 $ 10,769 $ 167 Nine Months Ended September 30, 2017 2016 (Dollars in millions) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Private Education Loans — Traditional $ 9,310 $ 448 $ 9,303 $ 416 Private Education Loans — Non-Traditional 1,333 80 1,418 81 Total $ 10,643 $ 528 $ 10,721 $ 497 The following table provides information regarding the loan status and aging of TDR loans that are past due. TDR Loan Delinquencies September 30, 2017 December 31, 2016 (Dollars in millions) Balance % Balance % Loans in deferment (1) $ 506 $ 579 Loans in forbearance (2) 931 588 Loans in repayment and percentage of each status: Loans current 8,133 89.0 % 8,273 85.8 % Loans delinquent 31-60 (3) 314 3.4 412 4.3 Loans delinquent 61-90 (3) 216 2.4 267 2.8 Loans delinquent greater than 90 days (3) 480 5.2 686 7.1 Total TDR loans in repayment 9,143 100 % 9,638 100 % Total TDR loans, gross $ 10,580 $ 10,805 (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 such as disaster relief, 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. Three Months Ended September 30, 2017 2016 (Dollars in millions) Modified Loans (1) Charge- Offs (2) Payment Default Modified Loans (1) Charge- Offs (2) Payment Default Private Education Loans — Traditional $ 186 $ 63 $ 38 $ 233 $ 68 $ 56 Private Education Loans — Non-Traditional 14 17 5 21 18 11 Total $ 200 $ 80 $ 43 $ 254 $ 86 $ 67 Nine Months Ended September 30, 2017 2016 (Dollars in millions) Modified Loans (1) Charge- Offs (2) Payment Default Modified Loans (1) Charge- Offs (2) Payment Default Private Education Loans — Traditional $ 574 $ 223 $ 126 $ 861 $ 221 $ 174 Private Education Loans — Non-Traditional 44 57 18 73 61 32 Total $ 618 $ 280 $ 144 $ 934 $ 282 $ 206 (1) Represents period ending balance of loans that have been modified during the period and resulted in a TDR. (2) Represents loans that charged off that were classified as TDRs. Accrued Interest Receivable The following table provides information regarding accrued interest receivable on our Private Education Loans. (Dollars in millions) Accrued Interest Receivable Greater Than 90 Days Past Due Allowance for Uncollectible Interest September 30, 2017 Private Education Loans — Traditional $ 338 $ 19 $ 20 Private Education Loans — Non-Traditional 49 5 5 Total $ 387 $ 24 $ 25 December 31, 2016 Private Education Loans — Traditional $ 344 $ 26 $ 23 Private Education Loans — Non-Traditional 47 7 7 Total $ 391 $ 33 $ 30

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Borrowings	3. Borrowings The following table summarizes our borrowings. September 30, 2017 December 31, 2016 (Dollars in millions) Short Term Long Term Total Short Term Long Term Total Unsecured borrowings: Senior unsecured debt $ 1,390 $ 12,366 $ 13,756 $ 717 $ 13,029 $ 13,746 Total unsecured borrowings 1,390 12,366 13,756 717 13,029 13,746 Secured borrowings: FFELP Loan securitizations — 72,674 72,674 — 73,522 73,522 Private Education Loan securitizations (1) 686 12,575 13,261 548 14,125 14,673 FFELP Loan — other facilities — 9,140 9,140 — 12,443 12,443 Private Education Loan — other facilities 687 1,778 2,465 464 — 464 Other (2) 482 — 482 606 — 606 Total secured borrowings 1,855 96,167 98,022 1,618 100,090 101,708 Total before hedge accounting adjustments 3,245 108,533 111,778 2,335 113,119 115,454 Hedge accounting adjustments 36 24 60 (1 ) (751 ) (752 ) Total $ 3,281 $ 108,557 $ 111,838 $ 2,334 $ 112,368 $ 114,702 (1) Includes $686 million and $548 million of short-term debt related to the Private Education Loan asset-backed securitization repurchase facilities (“Repurchase Facilities”) as of September 30, 2017 and December 31, 2016, respectively. Includes $1.3 billion and $475 million of long-term debt related to the Repurchase Facilities as of September 30, 2017 and December 31, 2016, respectively. (2) “Other” primarily includes the obligation to return cash collateral held related to derivative exposures, which includes $70 million and $193 million of securities re-pledged Variable Interest Entities We consolidated the following financing VIEs as of September 30, 2017 and December 31, 2016, as we are the primary beneficiary. As a result, these VIEs are accounted for as secured borrowings. September 30, 2017 Debt Outstanding Carrying Amount of Assets Securing Debt Outstanding (Dollars in millions) Short Term Long Term Total Loans Cash Other Assets Total Secured Borrowings — VIEs: FFELP Loan securitizations $ — $ 72,674 $ 72,674 $ 73,611 $ 2,495 $ 932 $ 77,038 Private Education Loan securitizations (1) 686 12,575 13,261 17,546 490 235 18,271 FFELP Loan — other facilities — 6,211 6,211 6,331 181 155 6,667 Private Education Loan — other facilities 687 1,778 2,465 3,289 69 44 3,402 Total before hedge accounting adjustments 1,373 93,238 94,611 100,777 3,235 1,366 105,378 Hedge accounting adjustments — (335 ) (335 ) — — (432 ) (432 ) Total $ 1,373 $ 92,903 $ 94,276 $ 100,777 $ 3,235 $ 934 $ 104,946 December 31, 2016 Debt Outstanding Carrying Amount of Assets Securing Debt Outstanding (Dollars in millions) Short Term Long Term Total Loans Cash Other Assets Total Secured Borrowings — VIEs: FFELP Loan securitizations $ — $ 73,522 $ 73,522 $ 74,197 $ 2,676 $ 778 $ 77,651 Private Education Loan securitizations (1) 548 14,125 14,673 19,815 455 260 20,530 FFELP Loan — other facilities — 9,046 9,046 9,232 289 172 9,693 Private Education Loan — other facilities 464 — 464 685 10 14 709 Other 66 — 66 79 4 — 83 Total before hedge accounting adjustments 1,078 96,693 97,771 104,008 3,434 1,224 108,666 Hedge accounting adjustments — (1,201 ) (1,201 ) — — (1,235 ) (1,235 ) Total $ 1,078 $ 95,492 $ 96,570 $ 104,008 $ 3,434 $ (11 ) $ 107,431 (1) Includes $686 million of short-term debt, $1.3 billion of long-term debt and $109 million of restricted cash related to the Repurchase Facilities as of September 30, 2017. Includes $548 million of short-term debt, $475 million of long-term debt and $49 million of restricted cash related to the Repurchase Facilities as of December 31, 2016.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2017
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 2016 Form 10-K. 10-K Summary of Derivative Financial Statement Impact The following tables summarize the fair values and notional amounts of all derivative instruments at September 30, 2017 and December 31, 2016, and their impact on other comprehensive income and earnings for the three and nine months ended September 30, 2017 and 2016. Impact of Derivatives on Consolidated Balance Sheet Cash Flow Fair Value Trading Total (Dollars in millions) Hedged Risk Exposure Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Fair Values (1) Derivative Assets: Interest rate swaps Interest rate $ 49 $ 78 $ 366 $ 465 $ 9 $ 22 $ 424 $ 565 Cross-currency interest Foreign currency and interest rate — — 58 — — — 58 — Other (2) Interest rate — — — — — — — — Total derivative assets (3) 49 78 424 465 9 22 482 565 Derivative Liabilities: Interest rate swaps Interest rate (44 ) (76 ) (57 ) (62 ) (67 ) (70 ) (168 ) (208 ) Floor Income Contracts Interest rate — — — — (126 ) (184 ) (126 ) (184 ) Cross-currency interest Foreign currency and interest rate — — (463 ) (1,243 ) (44 ) (53 ) (507 ) (1,296 ) Other (2) Interest rate — — — — (24 ) (13 ) (24 ) (13 ) Total derivative liabilities (3) (44 ) (76 ) (520 ) (1,305 ) (261 ) (320 ) (825 ) (1,701 ) Net total derivatives $ 5 $ 2 $ (96 ) $ (840 ) $ (252 ) $ (298 ) $ (343 ) $ (1,136 ) (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 $ 482 $ 565 $ (825 ) $ (1,701 ) Impact of master netting agreements (36 ) (31 ) 36 31 Derivative values with impact of master netting agreements (as carried on balance sheet) 446 534 (789 ) (1,670 ) Cash collateral (held) pledged (411 ) (345 ) 263 319 Net position $ 35 $ 189 $ (526 ) $ (1,351 ) The above fair values include adjustments when necessary for counterparty credit risk for both 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 asset position at September 30, 2017 and December 31, 2016 by $4 million and $0, 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, 2017 and December 31, 2016 by $34 million and $31 million, respectively. Cash Flow Fair Value Trading Total (Dollars in billions) Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Notional Values: Interest rate swaps $ 24.7 $ 15.2 $ 12.3 $ 11.8 $ 62.5 $ 23.8 $ 99.5 $ 50.8 Floor Income Contracts — — — — 21.9 18.5 21.9 18.5 Cross-currency interest rate swaps — — 6.8 8.5 .3 .3 7.1 8.8 Other (1) — — — — 2.2 2.6 2.2 2.6 Total derivatives $ 24.7 $ 15.2 $ 19.1 $ 20.3 $ 86.9 $ 45.2 $ 130.7 $ 80.7 (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 (Loss) on Derivatives (1)(2) Realized Gain (Loss) on Derivatives (3) Unrealized Gain (Loss) on Hedged Item (1) Total Gain (Loss) (Dollars in millions) 2017 2016 2017 2016 2017 2016 2017 2016 Fair Value Hedges: Interest rate swaps $ (28 ) $ (149 ) $ 38 $ 62 $ 39 $ 175 $ 49 $ 88 Cross-currency interest rate swaps 261 112 (30 ) (22 ) (262 ) (81 ) (31 ) 9 Total fair value derivatives 233 (37 ) 8 40 (223 ) 94 18 97 Cash Flow Hedges: Interest rate swaps — — (10 ) (20 ) — — (10 ) (20 ) Total cash flow derivatives — — (10 ) (20 ) — — (10 ) (20 ) Trading: Interest rate swaps 7 (20 ) (1 ) 14 — — 6 (6 ) Floor Income Contracts 31 113 (16 ) (28 ) — — 15 85 Cross-currency interest rate swaps — 6 (1 ) (1 ) — — (1 ) 5 Other (2 ) (3 ) (3 ) (1 ) — — (5 ) (4 ) Total trading derivatives 36 96 (21 ) (16 ) — — 15 80 Total 269 59 (23 ) 4 (223 ) 94 23 157 Less: realized gains (losses) recorded in interest expense — — (2 ) 20 — — (2 ) 20 Gains (losses) on derivative and hedging $ 269 $ 59 $ (21 ) $ (16 ) $ (223 ) $ 94 $ 25 $ 137 (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 (Loss) on Derivatives (1)(2) Realized Gain (Loss) on Derivatives (3) Unrealized Gain (Loss) on Hedged Item (1) Total Gain (Loss) (Dollars in millions) 2017 2016 2017 2016 2017 2016 2017 2016 Fair Value Hedges: Interest rate swaps $ (94 ) $ 166 $ 139 $ 201 $ 62 $ (172 ) $ 107 $ 195 Cross-currency interest rate swaps 837 210 (88 ) (58 ) (866 ) (135 ) (117 ) 17 Total fair value derivatives 743 376 51 143 (804 ) (307 ) (10 ) 212 Cash Flow Hedges: Interest rate swaps — — (41 ) (31 ) — — (41 ) (31 ) Total cash flow derivatives — — (41 ) (31 ) — — (41 ) (31 ) Trading: Interest rate swaps (9 ) 44 25 35 — — 16 79 Floor Income Contracts 97 147 (54 ) (222 ) — — 43 (75 ) Cross-currency interest rate swaps 9 51 (4 ) (3 ) — — 5 48 Other (11 ) (8 ) (8 ) (2 ) — — (19 ) (10 ) Total trading derivatives 86 234 (41 ) (192 ) — — 45 42 Total 829 610 (31 ) (80 ) (804 ) (307 ) (6 ) 223 Less: realized gains (losses) recorded in interest expense — — 10 112 — — 10 112 Gains (losses) on derivative and hedging activities, net $ 829 $ 610 $ (41 ) $ (192 ) $ (804 ) $ (307 ) $ (16 ) $ 111 (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) $ 411 $ 345 Securities at fair value — corporate derivatives (not recorded in financial statements) (1) 67 193 Securities at fair value — on-balance (2) 300 230 Total collateral held $ 778 $ 768 Derivative asset at fair value including accrued interest $ 619 $ 689 Collateral pledged to others: Cash (right to receive return of cash collateral is recorded in investments) $ 263 $ 319 Total collateral pledged $ 263 $ 319 Derivative liability at fair value including accrued interest and premium receivable $ 784 $ 1,670 (1) The Company has the ability to sell or re-pledge (2) The trusts do not have the ability to sell or re-pledge 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 $282 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. 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, 2017
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 $ 1,804 $ 1,663 Income tax asset, net current and deferred 623 725 Benefit and insurance-related investments 487 488 Derivatives at fair value 446 534 Fixed assets, net 152 160 Accounts receivable 135 95 Other loans, net 52 148 Other 389 380 Total $ 4,088 $ 4,193

Business Combinations - Acquisi

Business Combinations - Acquisition of Duncan Solutions	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Business Combinations - Acquisition of Duncan Solutions	6. Business Combinations — Acquisition of Duncan Solutions 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. On July 31, 2017, Navient acquired Duncan Solutions for approximately $86 million in cash. Duncan Solutions is a leading transportation revenue management company serving municipalities and toll authorities, offering a range of technology-enabled products and services to supports its clients’ parking and tolling operations. We have engaged an independent appraiser to assist in the valuation of the assets acquired and liabilities assumed including identifiable intangible assets, primarily customer relationships, the trade name and developed technology. We anticipate the purchase price allocation will be completed by the end of the first quarter 2018. The results of operations of Duncan Solutions have been included in Navient’s consolidated financial statements since the acquisition date and are reflected in Navient’s Business Services segment results in “Note 11 — Segment Reporting.” Navient has not disclosed the pro forma impact of this acquisition to the results of operations for the nine months ended September 30, 2017 and 2016, as the pro forma impact was deemed immaterial.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholders' Equity	7. Stockholders’ Equity The following table summarizes common share repurchases and issuances. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Common shares repurchased (1) 11,346,367 14,347,974 29,646,374 47,137,636 Average purchase price per share $ 14.55 $ 13.95 $ 14.85 $ 12.21 Shares repurchased related to employee stock-based compensation plans (2) 131,374 1,145,017 1,741,529 2,499,729 Average purchase price per share $ 15.34 $ 14.20 $ 15.56 $ 12.36 Common shares issued (3) 385,676 1,558,455 3,535,988 4,525,047 (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, 2017 was $15.02. Dividend and Share Repurchase Program In September 2017, June 2017 and March 2017, we paid a common stock dividend of $0.16 per share. We repurchased 29.6 million shares of common stock for $440 million in the nine months ended September 30, 2017. The shares were repurchased under our previously disclosed $600 million share repurchase program. Effective October 4, 2017, Navient suspended its remaining share repurchase program through year-end

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Sep. 30, 2017
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) 2017 2016 2017 2016 Numerator: Net income attributable to Navient Corporation $ 176 $ 230 $ 376 $ 535 Denominator: Weighted average shares used to compute basic EPS 269 310 279 324 Effect of dilutive securities: Dilutive effect of stock options, non-vested (1) 5 6 6 5 Dilutive potential common shares (2) 5 6 6 5 Weighted average shares used to compute diluted EPS 274 316 285 329 Basic earnings (loss) per common share attributable to Navient Corporation $ .65 $ .74 $ 1.35 $ 1.65 Diluted earnings (loss) per common share attributable to Navient Corporation $ .64 $ .73 $ 1.32 $ 1.63 (1) Includes the potential dilutive effect of additional common shares that are issuable upon exercise of outstanding stock options, non-vested (2) For the three months ended September 30, 2017 and 2016, 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. For the nine months ended September 30, 2017 and 2016, stock options covering approximately 5 million and 5 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, 2017
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 2016 Form 10-K During the three and nine months ended September 30, 2017, 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 Fair Value Measurements on a Recurring Basis September 30, 2017 December 31, 2016 (Dollars in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Available-for-sale Agency residential mortgage-backed securities $ — $ 1 $ — $ 1 $ — $ 1 $ — $ 1 Other — 2 — 2 — 2 — 2 Total available-for-sale — 3 — 3 — 3 — 3 Derivative instruments: (1) Interest rate swaps — 420 4 424 — 553 12 565 Cross-currency interest rate swaps — — 58 58 — — — — Other — — — — — — — — Total derivative assets (2) — 420 62 482 — 553 12 565 Total $ — $ 423 $ 62 $ 485 $ — $ 556 $ 12 $ 568 Liabilities (3) Derivative instruments (1) Interest rate swaps $ — $ (118 ) $ (50 ) $ (168 ) $ — $ (150 ) $ (58 ) $ (208 ) Floor Income Contracts — (126 ) — (126 ) — (184 ) — (184 ) Cross-currency interest rate swaps — (44 ) (463 ) (507 ) — (53 ) (1,243 ) (1,296 ) Other — — (24 ) (24 ) — — (13 ) (13 ) Total derivative liabilities (2) — (288 ) (537 ) (825 ) — (387 ) (1,314 ) (1,701 ) Total $ — $ (288 ) $ (537 ) $ (825 ) $ — $ (387 ) $ (1,314 ) $ (1,701 ) (1) Fair value of derivative instruments excludes accrued interest and the value of collateral. (2) See “Note 4 — Derivative Financial Instruments” for a reconciliation of gross positions without the impact of master netting agreements to the balance sheet classification. (3) 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. 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, 2017 2016 Derivative instruments Derivative instruments (Dollars in millions) Interest Rate Swaps Cross Currency Interest Rate Swaps Other Total Derivative Instruments Interest Rate Swaps Cross Currency Interest Rate Swaps Other Total Derivative Instruments Balance, beginning of period $ (48 ) $ (666 ) $ (22 ) $ (736 ) $ (37 ) $ (801 ) $ (7 ) $ (845 ) Total gains/(losses) (realized and unrealized): Included in earnings (1) 1 231 (5 ) 227 (2 ) 64 (4 ) 58 Included in other comprehensive income — — — — — — — — Settlements 1 30 3 34 — 23 1 24 Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (46 ) $ (405 ) $ (24 ) $ (475 ) $ (39 ) $ (714 ) $ (10 ) $ (763 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ 3 $ 227 $ (2 ) $ 228 $ (2 ) $ 87 $ (3 ) $ 82 Nine Months Ended September 30, 2017 2016 Derivative instruments Derivative instruments (Dollars in millions) Interest Rate Swaps Cross Currency Interest Rate Swaps Other Total Derivative Instruments Interest Rate Swaps Cross Currency Interest Rate Swaps Other Total Derivative Instruments Balance, beginning of period $ (46 ) $ (1,243 ) $ (13 ) $ (1,302 ) $ (44 ) $ (903 ) $ (2 ) $ (949 ) Total gains/(losses) (realized and unrealized): Included in earnings (1) (4 ) 750 (19 ) 727 4 129 (10 ) 123 Included in other comprehensive income — — — — — — — — Settlements 4 88 8 100 1 60 2 63 Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (46 ) $ (405 ) $ (24 ) $ (475 ) $ (39 ) $ (714 ) $ (10 ) $ (763 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ — $ 712 $ (11 ) $ 701 $ 6 $ 189 $ (8 ) $ 187 (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) 2017 2016 2017 2016 Gains (losses) on derivative and hedging activities, net $ 257 $ 81 $ 815 $ 183 Interest expense (30 ) (23 ) (88 ) (60 ) Total $ 227 $ 58 $ 727 $ 123 (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 Valuation Technique Input Range (Weighted Average) Derivatives Prime/LIBOR basis swaps $ (46 ) Discounted cash flow Constant prepayment rate 5.6% Bid/ask adjustment to .08% — .08% discount rate (.08%) Cross-currency interest rate swaps (405 ) Discounted cash flow Constant prepayment rate 4.1% Other (24 ) Total $ (475 ) 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: • 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, 2017 December 31, 2016 (Dollars in millions) Fair Value Carrying Value Difference Fair Value Carrying Value Difference Earning assets FFELP Loans $ 84,016 $ 83,916 $ 100 $ 86,626 $ 87,730 $ (1,104 ) Private Education Loans 23,620 23,424 196 23,191 23,340 (149 ) Cash and investments (1) 4,930 4,930 — 5,203 5,203 — Total earning assets 112,566 112,270 296 115,020 116,273 (1,253 ) Interest-bearing liabilities Short-term borrowings 3,289 3,281 (8 ) 2,346 2,334 (12 ) Long-term borrowings 107,991 108,557 566 109,826 112,368 2,542 Total interest-bearing liabilities 111,280 111,838 558 112,172 114,702 2,530 Derivative financial instruments Floor Income Contracts (126 ) (126 ) — (184 ) (184 ) — Interest rate swaps 256 256 — 357 357 — Cross-currency interest rate swaps (449 ) (449 ) — (1,296 ) (1,296 ) — Other (24 ) (24 ) — (13 ) (13 ) — Excess of net asset fair value over carrying value $ 854 $ 1,277 (1) “Cash and investments” includes available-for-sale

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Legal Proceedings The Company has been named as defendant in a number of putative class action cases alleging violations of various state and federal consumer protection laws. One of these putative class action suits is Randy Johnson v. Navient Solutions, Inc. (“NSI”). On May 4, 2015, Randy Johnson filed a putative class action in the United States District Court for the Southern District of Indiana alleging violations of the Telephone Consumer Protection Act (“TCPA”). During the fourth quarter of 2016, the parties entered into a settlement agreement and, in December 2016, filed a Motion to Approve the Class Action Settlement with the Court. The Court approved the settlement in July 2017. NSI denied all claims asserted, but agreed to settle the case to avoid the burden, expense, risk and uncertainty of continued litigation. On January 18, 2017, the CFPB and Attorneys General for the State of Illinois and the State of Washington initiated civil actions naming Navient Corporation and several of its subsidiaries as defendants alleging violations of certain Federal and State consumer protection statutes, including the Consumer Financial Protection Act of 2010, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act and various state consumer protection laws. On October 5, 2017, the Attorney General for the Commonwealth of Pennsylvania initiated a civil action against Navient Corporation and Navient Solutions, LLC, containing similar alleged violations of the Consumer Financial Protection Act of 2010 and the Pennsylvania Unfair Trade Practices and Consumer Protection Law. We refer to the Illinois Attorney General, the Pennsylvania Attorney General and the Washington Attorney General collectively as the “Attorneys General.” We intend to vigorously defend against the allegations in each of these cases. At this point in time, the Company is unable to anticipate the timing of a resolution or the ultimate impact that these legal proceedings may have on the Company’s consolidated financial position, liquidity, results of operation or cash flows. As a result, 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. It is possible that an adverse ruling or rulings may have a material adverse impact on the Company. For additional information on these civil actions, please refer to section entitled “Regulatory Matters” below. Regulatory Matters On May 2, 2014, Navient Solutions, Inc., now known as Navient Solutions, LLC (“Solutions”), a wholly-owned subsidiary of Navient, and Sallie Mae Bank entered into consent orders, without admitting any wrongdoing, with the Federal Deposit Insurance Corporation (the “FDIC”) (respectively, the “Solutions Order” and the “Bank Order”; collectively, the “FDIC Orders”) to settle matters related to certain cited violations of Section 5 of the Federal Trade Commission Act, including the disclosures and assessments of certain late fees, The FDIC lifted the FDIC Order with respect to Solutions effective as of March 23, 2017 with no conditions. With respect to alleged civil violations of the Servicemembers Civil Relief Act (the “SCRA”), Solutions 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 Solutions from November 28, 2005 until the effective date of the settlement. In the third quarter of 2016, the Company completed the distributions from the fund by distributing the remaining funds to charities approved by the DOJ pursuant to the terms of the order. The total reserves established by the Company in 2013 and 2014 to cover these costs were $177 million, and as of September 30, 2017, substantially all of this amount had been paid to customers or credited or refunded to customer accounts. The final cost of these proceedings will remain uncertain until the remaining consent order is lifted. The Company believes it has fulfilled the terms of the DOJ Order. As previously disclosed, the Company and various of its subsidiaries have been 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, Solutions 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. In August 2015, Solutions received a letter from the CFPB notifying Solutions 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 Solutions. The NORA letter related to a previously disclosed investigation into Solutions’ 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 Solutions. The Company responded to the NORA letter in September 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. • In December 2014, Solutions 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. On January 18, 2017, the CFPB and Attorneys General for the State of Illinois and the State of Washington initiated civil actions naming Navient Corporation and several of its subsidiaries as defendants alleging violations of Federal and State consumer protection statutes, including the Consumer Financial Protection Act of 2010, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act and various state consumer protection laws. On October 5, 2017, the Attorney General for the Commonwealth of Pennsylvania initiated a civil action against Navient Corporation and Navient Solutions, LLC, alleging violations of the Consumer Financial Protection Act of 2010 and the Pennsylvania Unfair Trade Practices and Consumer Protection Law. These civil actions are related to the CIDs and the NORA letter discussed above that were previously issued by the CFPB and the Attorneys General. In addition to these matters, a number of lawsuits have been filed by nongovernmental parties or, in the future, may be filed by additional governmental or nongovernmental parties seeking damages or other remedies related to similar issues raised by the CFPB and the Attorneys General. The Company filed its Motion to Dismiss on March 20, 2017 with respect to the Attorneys General actions and on March 24, 2017 with respect to the CFPB action. In relation to the CFPB action, after a hearing, our Motion to Dismiss was denied in full in August 2017. In relation to the Washington action, following a hearing, our Motion to Dismiss was denied in full in July 2017. In relation to the Illinois action, a hearing on our Motion to Dismiss was held on July 18, 2017 and no ruling has been issued as of the date of this Form 10-Q. 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 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 Spin-Off 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, if any, 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, except as otherwise disclosed.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Reporting	11. Segment Reporting FFELP Loans Segment In the FFELP Loans segment, we acquire and finance FFELP Loans. Although FFELP Loans are no longer originated, we continue to pursue acquisitions of FFELP Loan portfolios. These acquisitions leverage our servicing scale and generate incremental earnings and cash flow. In this segment, we generate revenue primarily through 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 over the remaining life of the portfolio. The following table includes GAAP basis asset information for our FFELP Loans segment. (Dollars in millions) September 30, December 31, FFELP Loans, net $ 83,916 $ 87,730 Cash and investments (1) 2,893 3,212 Other 2,315 1,907 Total assets $ 89,124 $ 92,849 (1) Includes restricted cash and investments. Private Education Loans Segment In this segment, we acquire, finance, and service Private Education Loans. Private Education Loans primarily bridge the gap between the cost of higher education and the amount funded through financial aid, federal loans, or students’ and families’ resources. They also allow borrowers to refinance existing education loans at a lower rate. Acquisitions leverage our servicing scale and generate incremental earnings and cash flow. In this segment, we generate revenue primarily through 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 over the remaining life of the portfolio. 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 $ 23,424 $ 23,340 Cash and investments (1) 723 667 Other 1,126 1,567 Total assets $ 25,273 $ 25,574 (1) Includes restricted cash and investments. Business Services Segment Our Business Services segment generates revenue from business processing solutions related to servicing, asset recovery and other business processing activities. Within this segment, we generate revenue primarily through 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 and higher education institutions. In addition, we provide asset recovery and other business processing solutions for federal, state, court, and municipal clients, public authorities, and health care organizations. At September 30, 2017 and December 31, 2016, the Business Services segment had total assets of $708 million and $587 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. At September 30, 2017 and December 31, 2016, the Other segment had total assets of $2.0 billion and $2.1 billion, respectively, on a GAAP basis. Measure of Profitability We prepare financial statements and present financial results in accordance with GAAP. However, we also evaluate our business segments and present financial results 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 our business segments because “Core Earnings” reflect adjustments to GAAP financial results for three items, discussed below, that are either related to the Spin-Off 1. Unrealized mark-to-market 2. The accounting for goodwill and acquired intangible assets; and 3. The financial results attributable to the operations of SLM BankCo prior to the Spin-Off Spin-Off, post-Spin-Off. 10-Q 10-K 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, 2017 FFELP Loans Private Education Loans Business Services Other Elimina- tions (1) Total “Core Earnings” Adjustments Total GAAP (Dollars in millions) Reclassi- fications Additions/ (Subtractions) Total Adjustments (2) Interest income: Education loans $ 678 $ 445 $ — $ — $ — $ 1,123 $ 16 $ (13 ) $ 3 $ 1,126 Other loans — — — 2 — 2 — — — 2 Cash and investments 9 1 — 2 — 12 — — — 12 Total interest income 687 446 — 4 — 1,137 16 (13 ) 3 1,140 Total interest expense 530 221 — 41 — 792 (5 ) (2 ) (7 ) 785 Net interest income (loss) 157 225 — (37 ) — 345 21 (11 ) 10 355 Less: provisions for loan losses 10 95 — — — 105 — — — 105 Net interest income (loss) after provisions for loan losses 147 130 — (37 ) — 240 21 (11 ) 10 250 Other income (loss): Servicing revenue 14 3 144 — (86 ) 75 — — — 75 Asset recovery and business processing revenue — — 157 — — 157 — — — 157 Other income (loss) — — — 3 — 3 (21 ) 47 26 29 Gains on sales of loans and investments — — — 3 — 3 — — — 3 Losses on debt repurchases — — — (1 ) — (1 ) — — — (1 ) Total other income (loss) 14 3 301 5 (86 ) 237 (21 ) 47 26 263 Expenses: Direct operating expenses 88 39 135 7 (86 ) 183 — — — 183 Overhead expenses — — — 55 — 55 — — — 55 Operating expenses 88 39 135 62 (86 ) 238 — — — 238 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 6 6 6 Total expenses 88 39 135 62 (86 ) 238 — 6 6 244 Income (loss) before income tax expense (benefit) 73 94 166 (94 ) — 239 — 30 30 269 Income tax expense (benefit) (3) 27 34 61 (35 ) — 87 — 6 6 93 Net income (loss) $ 46 $ 60 $ 105 $ (59 ) $ — $ 152 $ — $ 24 $ 24 $ 176 (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, 2017 (Dollars in millions) Net Impact of Derivative Accounting Net Impact of Goodwill and Acquired Intangible Assets Total Net interest income (loss) after provisions for loan losses $ 10 $ — $ 10 Total other income (loss) 26 — 26 Goodwill and acquired intangible asset impairment and amortization — 6 6 Total “Core Earnings” adjustments to GAAP $ 36 $ (6 ) 30 Income tax expense (benefit) 6 Net income (loss) $ 24 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Three Months Ended September 30, 2016 FFELP Loans Private Education Loans Business Services Other Elimina- tions (1) Total “Core Earnings” Adjustments Total GAAP (Dollars in millions) Reclassi- fications Additions/ (Subtractions) Total Adjustments (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 Total expenses 99 40 124 61 (96 ) 228 — 12 12 240 Income (loss) 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) $ 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 of Derivative Accounting Net Impact of Goodwill and Acquired Intangible Assets Total Net interest income (loss) after provisions for loan losses $ 7 $ — $ 7 Total other income (loss) 132 — 132 Goodwill and acquired intangible asset impairment and amortization — 12 12 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. Nine Months Ended September 30, 2017 FFELP Loans Private Education Loans Business Services Other Elimina- tions (1) Total “Core Earnings” Adjustments Total GAAP (Dollars in millions) Reclassi- fications Additions/ (Subtractions) Total Adjustments (2) Interest income: Education loans $ 1,966 $ 1,204 $ — $ — $ — $ 3,170 $ 54 $ (41 ) $ 13 $ 3,183 Other loans — — — 12 — 12 — — — 12 Cash and investments 20 3 — 6 — 29 — — — 29 Total interest income 1,986 1,207 — 18 — 3,211 54 (41 ) 13 3,224 Total interest expense 1,481 601 — 107 — 2,189 (3 ) (8 ) (11 ) 2,178 Net interest income (loss) 505 606 — (89 ) — 1,022 57 (33 ) 24 1,046 Less: provisions for loan losses 30 285 — 2 — 317 — — — 317 Net interest income (loss) after provisions for loan losses 475 321 — (91 ) — 705 57 (33 ) 24 729 Other income (loss): Servicing revenue 40 7 438 — (264 ) 221 — — — 221 Asset recovery and business processing revenue — — 367 — — 367 — — — 367 Other income (loss) — — 2 11 — 13 (57 ) 31 (26 ) (13 ) Gains on sales of loans and investments — — — 3 — 3 — — — 3 Losses on debt repurchases — — — (1 ) — (1 ) — — — (1 ) Total other income (loss) 40 7 807 13 (264 ) 603 (57 ) 31 (26 ) 577 Expenses: Direct operating expenses 272 117 391 18 (264 ) 534 — — — 534 Overhead expenses — — — 173 — 173 — — — 173 Operating expenses 272 117 391 191 (264 ) 707 — — — 707 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 17 17 17 Total expenses 272 117 391 191 (264 ) 707 — 17 17 724 Income (loss) before income tax expense (benefit) 243 211 416 (269 ) — 601 — (19 ) (19 ) 582 Income tax expense (benefit) (3) 88 77 152 (98 ) — 219 — (13 ) (13 ) 206 Net income (loss) $ 155 $ 134 $ 264 $ (171 ) $ — $ 382 $ — $ (6 ) $ (6 ) $ 376 (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, 2017 (Dollars in millions) Net Impact of Derivative Accounting Net Impact of Goodwill and Acquired Intangible Assets Total Net interest income (loss) after provisions for loan losses $ 24 $ — $ 24 Total other income (loss) (26 ) — (26 ) Goodwill and acquired intangible asset impairment and amortization — 17 17 Total “Core Earnings” adjustments to GAAP $ (2 ) $ (17 ) (19 ) Income tax expense (benefit) (13 ) Net income (loss) $ (6 ) (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Nine Months Ended September 30, 2016 FFELP Loans Private Education Loans Business Services Other Eliminations (1) Total “Core Earnings” Adjustments Total GAAP (Dollars in millions) Reclassi- fications Additions/ (Subtractions) Total Adjustments (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 Total expenses 305 124 383 190 (296 ) 706 — 22 22 728 Income (loss) 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) $ 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 of Derivative Accounting Net Impact of Goodwill and Acquired Intangible Assets Total Net interest income (loss) after provisions for loan losses $ 98 $ — $ 98 Total other income (loss) 63 — 63 Goodwill and acquired intangible asset impairment and amortization — 22 22 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. Summary of “Core Earnings” Adjustments to GAAP Three Months Ended Nine Months Ended (Dollars in millions) 2017 2016 2017 2016 “Core Earnings” adjustments to GAAP: Net impact of derivative accounting (1) $ 36 $ 139 $ (2 ) $ 161 Net impact of goodwill and acquired intangible assets (2) (6 ) (12 ) (17 ) (22 ) Net tax effect (3) (6 ) (54 ) 13 (62 ) Total “Core Earnings” adjustments to GAAP $ 24 $ 73 $ (6 ) $ 77 (1) Derivative accounting: mark-to-market (2) Goodwill and acquired intangible assets: (3) Net tax effect:

Significant Accounting Polici20

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
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, 2017 are not necessarily indicative of the results for the year ending December 31, 2017 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 10-K”). 10-Q 10-K.
Reclassifications	Reclassifications Certain reclassifications have been made to the balances as of and for the three and nine months ended September 30, 2016 to be consistent with classifications adopted for 2017, and had no effect on net income, total assets, or total liabilities.
Education Loan Interest Income and Allowance for Loan Losses	Education Loan Interest Income and Allowance for Loan Losses In June 2017, Navient purchased education loans with an unpaid principal amount of $6.5 billion comprised of $3.5 billion in FFELP Loans and $3.0 billion in Private Education Loans. Purchased Credit Impaired (“PCI”) Loans Loans acquired with evidence of deterioration of credit quality since origination for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable are PCI loans accounted for under Accounting Standard Codification (“ASC”) 310-30, The Company aggregates loans with common risk characteristics into pools and accounts for each pool as a single asset with a single composite interest rate and an aggregate expectation of cash flows. The pools when formed are initially recorded at fair value. The Company recognizes interest income based on each pool’s effective interest rate which is based on our estimate of all cash flows expected to be received and includes an assumption about prepayment rates. The pools are tested quarterly for impairment by re-estimating Based on the credit attributes discussed above, we concluded that $261 million principal amount of Private Education Loans acquired in June 2017 are required to be accounted for as PCI loans with a fair value of $101 million as of the acquisition date. As of acquisition, this portfolio’s contractually required payments receivable (the total undiscounted amount of all uncollected contractual principal and interest payments both past due and scheduled for the future, adjusted for prepayments) was $411 million with an estimated accretable yield (income expected to be recognized in future periods) of $108 million. As of September 30, 2017, the carrying amount was $100 million with no valuation allowance recorded. Purchased Non-Credit Loans acquired that do not have evidence of credit deterioration since origination are recorded at fair value with no allowance for loan losses established at the acquisition date. Loan premiums and discounts are amortized as a part of interest income using the interest method under ASC 310-20,
Asset Recovery and Business Processing Revenue	Asset Recovery and Business Processing Revenue In the third quarter of 2017, $47 million of previously deferred asset recovery revenue, net of a reserve, was recognized as revenue related to loans for which the Company performs default aversion services. In connection with providing these services, a fee is received when a loan is initially placed with us and we provide the services for the remaining life of the loan for no additional fee. As a result, in accordance with GAAP, the fee was deferred net of estimated rebates, and recognized as revenue as it was earned over the expected lives of the related loans. In the third quarter of 2017, the Company was notified that it would no longer perform these services after 2017 due to the termination of the related contract as of December 31, 2017. In accordance with GAAP, we recognized this previously deferred revenue during the three-month period ended September 30, 2017 to reflect a shortened period over which it is expected to be earned.
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, We will adopt the new standard as of January 1, 2018, the effective date. The new standard permits the use of either the retrospective or cumulative effect transition method. Our implementation efforts to date include the identification of revenue and review of related contracts within the scope of the new standard. We have not yet identified nor do we anticipate material changes in the timing of revenue recognition. However, our review is ongoing as we continue to evaluate both contract revenue and certain contract costs. Classification and Measurement On January 5, 2016, the FASB issued ASU No. 2016-01, Leases On February 25, 2016, the FASB issued ASU No. 2016-02, right-of-use Stock Compensation On March 30, 2016, the FASB issued ASU No. 2016-09, paid-in Allowance for Loan Losses On June 16, 2016, the FASB issued ASU No. 2016-13, Intra-Entity Transfer of Assets On October 24, 2016, the FASB issued ASU No. 2016-16, non-inventory Goodwill Impairment On January 26, 2017, the FASB issued ASU No. 2017-04, two-step Hedging Activities On August 28, 2017, the FASB issued ASU No. 2017-12,

Allowance for Loan Losses (Tabl

Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2017
Allowance for Credit Losses and Recorded Investments in Loans	Allowance for Loan Losses Metrics Three Months Ended September 30, 2017 (Dollars in millions) FFELP Loans Private Education Loans Other Loans Total Allowance for Loan Losses Beginning balance $ 61 $ 1,286 $ 15 $ 1,362 Total provision 10 95 — 105 Charge-offs (1) (10 ) (96 ) (3 ) (109 ) Reclassification of interest reserve (2) — 2 — 2 Ending balance (3) $ 61 $ 1,287 $ 12 $ 1,360 Allowance Ending Balance: Individually evaluated for impairment $ — $ 1,169 $ 10 $ 1,179 Collectively evaluated for impairment: Excluding Purchased Non-Credit 61 118 2 181 Purchased Non-Credit (3) — — — — Purchased Credit Impaired Loans (3) — — — — Ending total allowance $ 61 $ 1,287 $ 12 $ 1,360 Loans Ending Balance: Individually evaluated for impairment $ — $ 10,961 $ 30 $ 10,991 Collectively evaluated for impairment: Excluding Purchased Non-Credit 79,923 11,790 34 91,747 Purchased Non-Credit (3) 3,362 2,656 — 6,018 Purchased Credit Impaired Loans (3) — 258 — 258 Ending total loans (4) $ 83,285 $ 25,665 $ 64 $ 109,014 Charge-offs as a percentage of average loans in repayment (annualized) .05 % 1.63 % 16.22 % Allowance coverage of charge-offs (annualized) 1.7 3.4 .9 Allowance as a percentage of the ending total loan balance (3) .07 % 5.02 % 18.59 % Allowance as a percentage of the ending loans in repayment (3) .09 % 5.73 % 18.59 % Ending total loans (4) $ 83,285 $ 25,665 $ 64 Average loans in repayment $ 68,168 $ 23,112 $ 85 Ending loans in repayment $ 66,220 $ 22,448 $ 64 (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 charged-off Charged-Off (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) See “Note 1 — Significant Accounting Policies — Education Loan Interest Income and Allowance for Loan Losses” for a description of our policy for the $6.5 billion of loans ($3.5 billion of FFELP and $3.0 billion of Private Education) purchased in June 2017 accounted for as either Purchased Credit Impaired Loans or Purchased Non-Credit Non-Credit (4) Ending total loans for Private Education Loans includes the receivable for partially charged-off Three Months Ended September 30, 2016 (Dollars in millions) FFELP Loans Private Education Loans Other Loans Total Allowance for Loan Losses Beginning balance $ 66 $ 1,410 $ 15 $ 1,491 Total provision 13 92 1 106 Charge-offs (1) (13 ) (112 ) (1 ) (126 ) Reclassification of interest reserve (2) — 2 — 2 Ending balance $ 66 $ 1,392 $ 15 $ 1,473 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,153 $ 11 $ 1,164 Ending balance: collectively evaluated for impairment 66 239 4 309 Ending total allowance $ 66 $ 1,392 $ 15 $ 1,473 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,182 $ 32 $ 11,214 Ending balance: collectively evaluated for impairment (3) 89,201 14,682 99 103,982 Ending total loans (3) $ 89,201 $ 25,864 $ 131 $ 115,196 Charge-offs as a percentage of average loans in repayment (annualized) .07 % 1.94 % 1.87 % Allowance coverage of charge-offs (annualized) 1.2 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 .09 % 6.17 % 11.40 % Ending total loans (3) $ 89,201 $ 25,864 $ 131 Average loans in repayment $ 72,927 $ 22,959 $ 102 Ending loans in repayment $ 72,203 $ 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 charged-off Charged-Off (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 Nine Months Ended September 30, 2017 (Dollars in millions) FFELP Loans Private Education Loans Other Loans Total Allowance for Loan Losses Beginning balance $ 67 $ 1,351 $ 15 $ 1,433 Total provision 30 285 2 317 Charge-offs (1) (36 ) (355 ) (5 ) (396 ) Reclassification of interest reserve (2) — 6 — 6 Ending balance (3) $ 61 $ 1,287 $ 12 $ 1,360 Allowance Ending Balance: Individually evaluated for impairment $ — $ 1,169 $ 10 $ 1,179 Collectively evaluated for impairment: Excluding Purchased Non-Credit 61 118 2 181 Purchased Non-Credit (3) — — — — Purchased Credit Impaired Loans (3) — — — — Ending total allowance $ 61 $ 1,287 $ 12 $ 1,360 Loans Ending Balance: Individually evaluated for impairment $ — $ 10,961 $ 30 $ 10,991 Collectively evaluated for impairment: Excluding Purchased Non-Credit 79,923 11,790 34 91,747 Purchased Non-Credit (3) 3,362 2,656 — 6,018 Purchased Credit Impaired Loans (3) — 258 — 258 Ending total loans (4) $ 83,285 $ 25,665 $ 64 $ 109,014 Charge-offs as a percentage of average loans in repayment (annualized) .07 % 2.14 % 3.92 % Allowance coverage of charge-offs (annualized) 1.3 2.7 1.7 Allowance as a percentage of the ending total loan balance (3) .07 % 5.02 % 18.59 % Allowance as a percentage of the ending loans in repayment (3) .09 % 5.73 % 18.59 % Ending total loans (4) $ 83,285 $ 25,665 $ 64 Average loans in repayment $ 68,791 $ 22,180 $ 186 Ending loans in repayment $ 66,220 $ 22,448 $ 64 (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 charged-off Charged-Off (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) See “Note 1 — Significant Accounting Policies — Education Loan Interest Income and Allowance for Loan Losses” for a description of our policy for the $6.5 billion of loans ($3.5 billion of FFELP and $3.0 billion of Private Education) purchased in June 2017 accounted for as either Purchased Credit Impaired Loans or Purchased Non-Credit Non-Credit (4) Ending total loans for Private Education Loans includes the receivable for partially charged-off Nine Months Ended September 30, 2016 (Dollars in millions) FFELP Loans Private Education Loans Other Loans Total Allowance for Loan Losses Beginning balance $ 78 $ 1,471 $ 15 $ 1,564 Total provision 30 296 1 327 Charge-offs (1) (42 ) (383 ) (1 ) (426 ) Reclassification of interest reserve (2) — 8 — 8 Ending balance $ 66 $ 1,392 $ 15 $ 1,473 Allowance: Ending balance: individually evaluated for impairment $ — $ 1,153 $ 11 $ 1,164 Ending balance: collectively evaluated for impairment 66 239 4 309 Ending total allowance $ 66 $ 1,392 $ 15 $ 1,473 Loans: Ending balance: individually evaluated for impairment (3) $ — $ 11,182 $ 32 $ 11,214 Ending balance: collectively evaluated for impairment (3) 89,201 14,682 99 103,982 Ending total loans (3) $ 89,201 $ 25,864 $ 131 $ 115,196 Charge-offs as a percentage of average loans in repayment (annualized) .08 % 2.17 % 1.76 % Allowance coverage of charge-offs (annualized) 1.2 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 .09 % 6.17 % 11.40 % Ending total loans (3) $ 89,201 $ 25,864 $ 131 Average loans in repayment $ 73,200 $ 23,564 $ 89 Ending loans in repayment $ 72,203 $ 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 charged-off Charged-Off (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
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, 2017 December 31, 2016 (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 5,199 $ 5,871 Loans in forbearance (2) 11,866 10,490 Loans in repayment and percentage of each status: Loans current 58,172 87.8 % 61,977 87.8 % Loans delinquent 31-60 (3) 2,565 3.9 2,820 4.0 Loans delinquent 61-90 (3) 1,566 2.4 1,325 1.9 Loans delinquent greater than 90 days (3) 3,917 5.9 4,435 6.3 Total FFELP Loans in repayment 66,220 100 % 70,557 100 % Total FFELP Loans, gross 83,285 86,918 FFELP Loan unamortized premium 692 879 Total FFELP Loans 83,977 87,797 FFELP Loan allowance for losses (61 ) (67 ) FFELP Loans, net $ 83,916 $ 87,730 Percentage of FFELP Loans in repayment 79.5 % 81.2 % Delinquencies as a percentage of FFELP Loans in repayment 12.2 % 12.2 % FFELP Loans in forbearance as a percentage of loans in repayment and forbearance 15.2 % 12.9 % (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 such as disaster relief. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due. Traditional Private Education Loan Delinquencies September 30, 2017 December 31, 2016 (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 1,065 $ 1,271 Loans in forbearance (2) 1,117 700 Loans in repayment and percentage of each status: Loans current 19,558 94.7 % 19,020 93.3 % Loans delinquent 31-60 (3) 368 1.8 444 2.2 Loans delinquent 61-90 (3) 234 1.1 269 1.3 Loans delinquent greater than 90 days (3) 486 2.4 663 3.2 Total traditional loans in repayment 20,646 100 % 20,396 100 % Total traditional loans, gross 22,828 22,367 Traditional loans unamortized discount (831 ) (402 ) Total traditional loans 21,997 21,965 Traditional loans receivable for partially charged-off 502 526 Traditional loans allowance for losses (1,086 ) (1,138 ) Traditional loans, net $ 21,413 $ 21,353 Percentage of traditional loans in repayment 90.4 % 91.2 % Delinquencies as a percentage of traditional loans in repayment 5.3 % 6.7 % Loans in forbearance as a percentage of loans in repayment and forbearance 5.1 % 3.3 % (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 such as disaster relief, consistent with established loan program servicing policies and procedures. (3) The period of delinquency is based on the number of days scheduled payments are contractually past due. Non-Traditional Private Education Loan Delinquencies September 30, 2017 December 31, 2016 (Dollars in millions) Balance % Balance % Loans in-school/grace/deferment (1) $ 109 $ 122 Loans in forbearance (2) 155 90 Loans in repayment and percentage of each status: Loans current 1,596 88.5 % 1,486 84.8 % Loans delinquent 31-60 (3) 62 3.5 78 4.5 Loans delinquent 61-90 (3) 43 2.4 52 2.9 Loans delinquent greater than 90 days (3) 101 5.6 138 7.8 Total non-traditional 1,802 100 % 1,754 100 % Total non-traditional 2,066 1,966 Non-traditional (123 ) (55 ) Total non-traditional 1,943 1,911 Non-traditional charged-off 269 289 Non-traditional (201 ) (213 ) Non-traditional $ 2,011 $ 1,987 Percentage of non-traditional 87.2 % 89.2 % Delinquencies as a percentage of non-traditional 11.5 % 15.2 % Loans in forbearance as a percentage of loans in repayment and forbearance 7.9 % 4.9 % (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 such as disaster relief, 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.
Loans Modified Accounts for TDR	The following table provides the recorded investment, unpaid principal balance and related allowance for our TDR loans. TDR Loans (Dollars in millions) Recorded Investment (1) Unpaid Principal Balance Related Allowance September 30, 2017 Private Education Loans — Traditional $ 9,245 $ 9,282 $ 985 Private Education Loans — Non-Traditional 1,294 1,298 184 Total $ 10,539 $ 10,580 $ 1,169 December 31, 2016 Private Education Loans — Traditional $ 9,386 $ 9,429 $ 1,003 Private Education Loans — Non-Traditional 1,373 1,376 187 Total $ 10,759 $ 10,805 $ 1,190 (1) The recorded investment is equal to the unpaid principal balance and accrued interest receivable net of unamortized deferred fees and costs.
Entity Loan Modification Program [Member]
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. Three Months Ended September 30, 2017 2016 (Dollars in millions) Modified Loans (1) Charge- Offs (2) Payment Default Modified Loans (1) Charge- Offs (2) Payment Default Private Education Loans — Traditional $ 186 $ 63 $ 38 $ 233 $ 68 $ 56 Private Education Loans — Non-Traditional 14 17 5 21 18 11 Total $ 200 $ 80 $ 43 $ 254 $ 86 $ 67 Nine Months Ended September 30, 2017 2016 (Dollars in millions) Modified Loans (1) Charge- Offs (2) Payment Default Modified Loans (1) Charge- Offs (2) Payment Default Private Education Loans — Traditional $ 574 $ 223 $ 126 $ 861 $ 221 $ 174 Private Education Loans — Non-Traditional 44 57 18 73 61 32 Total $ 618 $ 280 $ 144 $ 934 $ 282 $ 206 (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, 2017 December 31, 2016 (Dollars in millions) Balance % Balance % Loans in deferment (1) $ 506 $ 579 Loans in forbearance (2) 931 588 Loans in repayment and percentage of each status: Loans current 8,133 89.0 % 8,273 85.8 % Loans delinquent 31-60 (3) 314 3.4 412 4.3 Loans delinquent 61-90 (3) 216 2.4 267 2.8 Loans delinquent greater than 90 days (3) 480 5.2 686 7.1 Total TDR loans in repayment 9,143 100 % 9,638 100 % Total TDR loans, gross $ 10,580 $ 10,805 (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 such as disaster relief, 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.
Average Recorded Investment and Interest Income Recognized for TDR	The following table provides the average recorded investment and interest income recognized for our TDR loans. Three Months Ended September 30, 2017 2016 (Dollars in millions) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Private Education Loans — Traditional $ 9,257 $ 153 $ 9,367 $ 140 Private Education Loans — Non-Traditional 1,305 27 1,402 27 Total $ 10,562 $ 180 $ 10,769 $ 167 Nine Months Ended September 30, 2017 2016 (Dollars in millions) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Private Education Loans — Traditional $ 9,310 $ 448 $ 9,303 $ 416 Private Education Loans — Non-Traditional 1,333 80 1,418 81 Total $ 10,643 $ 528 $ 10,721 $ 497
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 Private Education Loans Credit Quality Indicators September 30, 2017 December 31, 2016 (Dollars in millions) Balance (3) % of Balance Balance (3) % of Balance Credit Quality Indicators School Type/FICO Scores: Traditional $ 22,828 92 % $ 22,367 92 % Non-Traditional (1) 2,066 8 1,966 8 Total $ 24,894 100 % $ 24,333 100 % Cosigners: With cosigner $ 16,137 65 % $ 15,610 64 % Without cosigner 8,757 35 8,723 36 Total $ 24,894 100 % $ 24,333 100 % Seasoning (2) 1-12 $ 1,343 5 % $ 1,340 5 % 13-24 1,072 4 1,271 5 25-36 1,541 6 1,908 8 37-48 2,388 10 2,723 11 More than 48 payments 17,376 70 15,698 65 Not yet in repayment 1,174 5 1,393 6 Total $ 24,894 100 % $ 24,333 100 % (1) Defined as loans to customers attending for-profit not-for-profit (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 Private Education Loans	The following table summarizes the activity in the receivable for partially charged-off Three Months Ended Nine Months Ended (Dollars in millions) 2017 2016 2017 2016 Receivable at beginning of period $ 784 $ 847 $ 815 $ 881 Expected future recoveries of current period defaults (1) 24 28 88 96 Recoveries (2) (37 ) (44 ) (121 ) (140 ) Charge-offs (3) — (3 ) (11 ) (9 ) Receivable at end of period $ 771 $ 828 $ 771 $ 828 (1) Represents our estimate of the amount to be collected in the future. (2) Current period cash collections. (3) Represents the current period recovery shortfall — the difference between what was expected to be collected and what was actually collected. These amounts are included in total charge-offs as reported in the “Allowance for Private Education Loan Losses” table.
Accrued Interest Receivable	The following table provides information regarding accrued interest receivable on our Private Education Loans. (Dollars in millions) Accrued Interest Receivable Greater Than 90 Days Past Due Allowance for Uncollectible Interest September 30, 2017 Private Education Loans — Traditional $ 338 $ 19 $ 20 Private Education Loans — Non-Traditional 49 5 5 Total $ 387 $ 24 $ 25 December 31, 2016 Private Education Loans — Traditional $ 344 $ 26 $ 23 Private Education Loans — Non-Traditional 47 7 7 Total $ 391 $ 33 $ 30

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Company's Borrowings	The following table summarizes our borrowings. September 30, 2017 December 31, 2016 (Dollars in millions) Short Term Long Term Total Short Term Long Term Total Unsecured borrowings: Senior unsecured debt $ 1,390 $ 12,366 $ 13,756 $ 717 $ 13,029 $ 13,746 Total unsecured borrowings 1,390 12,366 13,756 717 13,029 13,746 Secured borrowings: FFELP Loan securitizations — 72,674 72,674 — 73,522 73,522 Private Education Loan securitizations (1) 686 12,575 13,261 548 14,125 14,673 FFELP Loan — other facilities — 9,140 9,140 — 12,443 12,443 Private Education Loan — other facilities 687 1,778 2,465 464 — 464 Other (2) 482 — 482 606 — 606 Total secured borrowings 1,855 96,167 98,022 1,618 100,090 101,708 Total before hedge accounting adjustments 3,245 108,533 111,778 2,335 113,119 115,454 Hedge accounting adjustments 36 24 60 (1 ) (751 ) (752 ) Total $ 3,281 $ 108,557 $ 111,838 $ 2,334 $ 112,368 $ 114,702 (1) Includes $686 million and $548 million of short-term debt related to the Private Education Loan asset-backed securitization repurchase facilities (“Repurchase Facilities”) as of September 30, 2017 and December 31, 2016, respectively. Includes $1.3 billion and $475 million of long-term debt related to the Repurchase Facilities as of September 30, 2017 and December 31, 2016, respectively. (2) “Other” primarily includes the obligation to return cash collateral held related to derivative exposures, which includes $70 million and $193 million of securities re-pledged
Financing VIEs	We consolidated the following financing VIEs as of September 30, 2017 and December 31, 2016, as we are the primary beneficiary. As a result, these VIEs are accounted for as secured borrowings. September 30, 2017 Debt Outstanding Carrying Amount of Assets Securing Debt Outstanding (Dollars in millions) Short Term Long Term Total Loans Cash Other Assets Total Secured Borrowings — VIEs: FFELP Loan securitizations $ — $ 72,674 $ 72,674 $ 73,611 $ 2,495 $ 932 $ 77,038 Private Education Loan securitizations (1) 686 12,575 13,261 17,546 490 235 18,271 FFELP Loan — other facilities — 6,211 6,211 6,331 181 155 6,667 Private Education Loan — other facilities 687 1,778 2,465 3,289 69 44 3,402 Total before hedge accounting adjustments 1,373 93,238 94,611 100,777 3,235 1,366 105,378 Hedge accounting adjustments — (335 ) (335 ) — — (432 ) (432 ) Total $ 1,373 $ 92,903 $ 94,276 $ 100,777 $ 3,235 $ 934 $ 104,946 December 31, 2016 Debt Outstanding Carrying Amount of Assets Securing Debt Outstanding (Dollars in millions) Short Term Long Term Total Loans Cash Other Assets Total Secured Borrowings — VIEs: FFELP Loan securitizations $ — $ 73,522 $ 73,522 $ 74,197 $ 2,676 $ 778 $ 77,651 Private Education Loan securitizations (1) 548 14,125 14,673 19,815 455 260 20,530 FFELP Loan — other facilities — 9,046 9,046 9,232 289 172 9,693 Private Education Loan — other facilities 464 — 464 685 10 14 709 Other 66 — 66 79 4 — 83 Total before hedge accounting adjustments 1,078 96,693 97,771 104,008 3,434 1,224 108,666 Hedge accounting adjustments — (1,201 ) (1,201 ) — — (1,235 ) (1,235 ) Total $ 1,078 $ 95,492 $ 96,570 $ 104,008 $ 3,434 $ (11 ) $ 107,431 (1) Includes $686 million of short-term debt, $1.3 billion of long-term debt and $109 million of restricted cash related to the Repurchase Facilities as of September 30, 2017. Includes $548 million of short-term debt, $475 million of long-term debt and $49 million of restricted cash related to the Repurchase Facilities as of December 31, 2016.

Derivative Financial Instrume23

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Impact of Derivatives on Consolidated Balance Sheet	The following tables summarize the fair values and notional amounts of all derivative instruments at September 30, 2017 and December 31, 2016, and their impact on other comprehensive income and earnings for the three and nine months ended September 30, 2017 and 2016. Impact of Derivatives on Consolidated Balance Sheet Cash Flow Fair Value Trading Total (Dollars in millions) Hedged Risk Exposure Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Fair Values (1) Derivative Assets: Interest rate swaps Interest rate $ 49 $ 78 $ 366 $ 465 $ 9 $ 22 $ 424 $ 565 Cross-currency interest rate swaps Foreign currency and interest rate — — 58 — — — 58 — Other (2) Interest rate — — — — — — — — Total derivative assets (3) 49 78 424 465 9 22 482 565 Derivative Liabilities: Interest rate swaps Interest rate (44 ) (76 ) (57 ) (62 ) (67 ) (70 ) (168 ) (208 ) Floor Income Contracts Interest rate — — — — (126 ) (184 ) (126 ) (184 ) Cross-currency interest rate swaps Foreign currency and interest rate — — (463 ) (1,243 ) (44 ) (53 ) (507 ) (1,296 ) Other (2) Interest rate — — — — (24 ) (13 ) (24 ) (13 ) Total derivative liabilities (3) (44 ) (76 ) (520 ) (1,305 ) (261 ) (320 ) (825 ) (1,701 ) Net total derivatives $ 5 $ 2 $ (96 ) $ (840 ) $ (252 ) $ (298 ) $ (343 ) $ (1,136 ) (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 with Impact of Master Netting Agreements	(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 $ 482 $ 565 $ (825 ) $ (1,701 ) Impact of master netting agreements (36 ) (31 ) 36 31 Derivative values with impact of master netting agreements (as carried on balance sheet) 446 534 (789 ) (1,670 ) Cash collateral (held) pledged (411 ) (345 ) 263 319 Net position $ 35 $ 189 $ (526 ) $ (1,351 )
Derivative Notional Values	Cash Flow Fair Value Trading Total (Dollars in billions) Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, Notional Values: Interest rate swaps $ 24.7 $ 15.2 $ 12.3 $ 11.8 $ 62.5 $ 23.8 $ 99.5 $ 50.8 Floor Income Contracts — — — — 21.9 18.5 21.9 18.5 Cross-currency interest rate swaps — — 6.8 8.5 .3 .3 7.1 8.8 Other (1) — — — — 2.2 2.6 2.2 2.6 Total derivatives $ 24.7 $ 15.2 $ 19.1 $ 20.3 $ 86.9 $ 45.2 $ 130.7 $ 80.7 (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 (Loss) on Derivatives (1)(2) Realized (Loss) on Derivatives (3) Unrealized (Loss) on Hedged Item (1) Total Gain (Loss) (Dollars in millions) 2017 2016 2017 2016 2017 2016 2017 2016 Fair Value Hedges: Interest rate swaps $ (28 ) $ (149 ) $ 38 $ 62 $ 39 $ 175 $ 49 $ 88 Cross-currency interest rate swaps 261 112 (30 ) (22 ) (262 ) (81 ) (31 ) 9 Total fair value derivatives 233 (37 ) 8 40 (223 ) 94 18 97 Cash Flow Hedges: Interest rate swaps — — (10 ) (20 ) — — (10 ) (20 ) Total cash flow derivatives — — (10 ) (20 ) — — (10 ) (20 ) Trading: Interest rate swaps 7 (20 ) (1 ) 14 — — 6 (6 ) Floor Income Contracts 31 113 (16 ) (28 ) — — 15 85 Cross-currency interest rate swaps — 6 (1 ) (1 ) — — (1 ) 5 Other (2 ) (3 ) (3 ) (1 ) — — (5 ) (4 ) Total trading derivatives 36 96 (21 ) (16 ) — — 15 80 Total 269 59 (23 ) 4 (223 ) 94 23 157 Less: realized gains (losses) recorded in interest expense — — (2 ) 20 — — (2 ) 20 Gains (losses) on derivative and hedging activities, net $ 269 $ 59 $ (21 ) $ (16 ) $ (223 ) $ 94 $ 25 $ 137 (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 (Loss) on Derivatives (1)(2) Realized Gain (Loss) on Derivatives (3) Unrealized Gain (Loss) on Hedged Item (1) Total Gain (Loss) (Dollars in millions) 2017 2016 2017 2016 2017 2016 2017 2016 Fair Value Hedges: Interest rate swaps $ (94 ) $ 166 $ 139 $ 201 $ 62 $ (172 ) $ 107 $ 195 Cross-currency interest rate swaps 837 210 (88 ) (58 ) (866 ) (135 ) (117 ) 17 Total fair value derivatives 743 376 51 143 (804 ) (307 ) (10 ) 212 Cash Flow Hedges: Interest rate swaps — — (41 ) (31 ) — — (41 ) (31 ) Total cash flow derivatives — — (41 ) (31 ) — — (41 ) (31 ) Trading: Interest rate swaps (9 ) 44 25 35 — — 16 79 Floor Income Contracts 97 147 (54 ) (222 ) — — 43 (75 ) Cross-currency interest rate swaps 9 51 (4 ) (3 ) — — 5 48 Other (11 ) (8 ) (8 ) (2 ) — — (19 ) (10 ) Total trading derivatives 86 234 (41 ) (192 ) — — 45 42 Total 829 610 (31 ) (80 ) (804 ) (307 ) (6 ) 223 Less: realized gains (losses) recorded in interest expense — — 10 112 — — 10 112 Gains (losses) on derivative and hedging activities, net $ 829 $ 610 $ (41 ) $ (192 ) $ (804 ) $ (307 ) $ (16 ) $ 111 (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) $ 411 $ 345 Securities at fair value — corporate derivatives (not recorded in financial statements) (1) 67 193 Securities at fair value — on-balance (2) 300 230 Total collateral held $ 778 $ 768 Derivative asset at fair value including accrued interest $ 619 $ 689 Collateral pledged to others: Cash (right to receive return of cash collateral is recorded in investments) $ 263 $ 319 Total collateral pledged $ 263 $ 319 Derivative liability at fair value including accrued interest and premium receivable $ 784 $ 1,670 (1) The Company has the ability to sell or re-pledge (2) The trusts do not have the ability to sell or re-pledge

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2017
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 $ 1,804 $ 1,663 Income tax asset, net current and deferred 623 725 Benefit and insurance-related investments 487 488 Derivatives at fair value 446 534 Fixed assets, net 152 160 Accounts receivable 135 95 Other loans, net 52 148 Other 389 380 Total $ 4,088 $ 4,193

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Common Share Repurchases and Issuances	The following table summarizes common share repurchases and issuances. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Common shares repurchased (1) 11,346,367 14,347,974 29,646,374 47,137,636 Average purchase price per share $ 14.55 $ 13.95 $ 14.85 $ 12.21 Shares repurchased related to employee stock-based compensation plans (2) 131,374 1,145,017 1,741,529 2,499,729 Average purchase price per share $ 15.34 $ 14.20 $ 15.56 $ 12.36 Common shares issued (3) 385,676 1,558,455 3,535,988 4,525,047 (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, 2017
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) 2017 2016 2017 2016 Numerator: Net income attributable to Navient Corporation $ 176 $ 230 $ 376 $ 535 Denominator: Weighted average shares used to compute basic EPS 269 310 279 324 Effect of dilutive securities: Dilutive effect of stock options, non-vested (1) 5 6 6 5 Dilutive potential common shares (2) 5 6 6 5 Weighted average shares used to compute diluted EPS 274 316 285 329 Basic earnings (loss) per common share attributable to Navient Corporation $ .65 $ .74 $ 1.35 $ 1.65 Diluted earnings (loss) per common share attributable to Navient Corporation $ .64 $ .73 $ 1.32 $ 1.63 (1) Includes the potential dilutive effect of additional common shares that are issuable upon exercise of outstanding stock options, non-vested (2) For the three months ended September 30, 2017 and 2016, 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. For the nine months ended September 30, 2017 and 2016, stock options covering approximately 5 million and 5 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, 2017
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 Fair Value Measurements on a Recurring Basis September 30, 2017 December 31, 2016 (Dollars in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Available-for-sale Agency residential mortgage-backed securities $ — $ 1 $ — $ 1 $ — $ 1 $ — $ 1 Other — 2 — 2 — 2 — 2 Total available-for-sale — 3 — 3 — 3 — 3 Derivative instruments: (1) Interest rate swaps — 420 4 424 — 553 12 565 Cross-currency interest rate swaps — — 58 58 — — — — Other — — — — — — — — Total derivative assets (2) — 420 62 482 — 553 12 565 Total $ — $ 423 $ 62 $ 485 $ — $ 556 $ 12 $ 568 Liabilities (3) Derivative instruments (1) Interest rate swaps $ — $ (118 ) $ (50 ) $ (168 ) $ — $ (150 ) $ (58 ) $ (208 ) Floor Income Contracts — (126 ) — (126 ) — (184 ) — (184 ) Cross-currency interest rate swaps — (44 ) (463 ) (507 ) — (53 ) (1,243 ) (1,296 ) Other — — (24 ) (24 ) — — (13 ) (13 ) Total derivative liabilities (2) — (288 ) (537 ) (825 ) — (387 ) (1,314 ) (1,701 ) Total $ — $ (288 ) $ (537 ) $ (825 ) $ — $ (387 ) $ (1,314 ) $ (1,701 ) (1) Fair value of derivative instruments excludes accrued interest and the value of collateral. (2) See “Note 4—Derivative Financial Instruments” for a reconciliation of gross positions without the impact of master netting agreements to the balance sheet classification. (3) 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.
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, 2017 2016 Derivative instruments Derivative instruments (Dollars in millions) Interest Rate Swaps Cross Currency Interest Rate Swaps Other Total Derivative Instruments Interest Rate Swaps Cross Currency Interest Rate Swaps Other Total Derivative Instruments Balance, beginning of period $ (48 ) $ (666 ) $ (22 ) $ (736 ) $ (37 ) $ (801 ) $ (7 ) $ (845 ) Total gains/(losses) (realized and unrealized): Included in earnings (1) 1 231 (5 ) 227 (2 ) 64 (4 ) 58 Included in other comprehensive income — — — — — — — — Settlements 1 30 3 34 — 23 1 24 Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (46 ) $ (405 ) $ (24 ) $ (475 ) $ (39 ) $ (714 ) $ (10 ) $ (763 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ 3 $ 227 $ (2 ) $ 228 $ (2 ) $ 87 $ (3 ) $ 82 Nine Months Ended September 30, 2017 2016 Derivative instruments Derivative instruments (Dollars in millions) Interest Rate Swaps Cross Currency Interest Rate Swaps Other Total Derivative Instruments Interest Rate Swaps Cross Currency Interest Rate Swaps Other Total Derivative Instruments Balance, beginning of period $ (46 ) $ (1,243 ) $ (13 ) $ (1,302 ) $ (44 ) $ (903 ) $ (2 ) $ (949 ) Total gains/(losses) (realized and unrealized): Included in earnings (1) (4 ) 750 (19 ) 727 4 129 (10 ) 123 Included in other comprehensive income — — — — — — — — Settlements 4 88 8 100 1 60 2 63 Transfers in and/or out of level 3 — — — — — — — — Balance, end of period $ (46 ) $ (405 ) $ (24 ) $ (475 ) $ (39 ) $ (714 ) $ (10 ) $ (763 ) Change in unrealized gains/(losses) relating to instruments still held at the reporting date (2) $ — $ 712 $ (11 ) $ 701 $ 6 $ 189 $ (8 ) $ 187 (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) 2017 2016 2017 2016 Gains (losses) on derivative and hedging activities, net $ 257 $ 81 $ 815 $ 183 Interest expense (30 ) (23 ) (88 ) (60 ) Total $ 227 $ 58 $ 727 $ 123 (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 Valuation Technique Input Range (Weighted Average) Derivatives Prime/LIBOR basis swaps $ (46 ) Discounted cash flow Constant prepayment rate 5.6% Bid/ask adjustment to .08% — .08% discount rate (.08%) Cross-currency interest rate swaps (405 ) Discounted cash flow Constant prepayment rate 4.1% Other (24 ) Total $ (475 )
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, 2017 December 31, 2016 (Dollars in millions) Fair Value Carrying Value Difference Fair Value Carrying Value Difference Earning assets FFELP Loans $ 84,016 $ 83,916 $ 100 $ 86,626 $ 87,730 $ (1,104 ) Private Education Loans 23,620 23,424 196 23,191 23,340 (149 ) Cash and investments (1) 4,930 4,930 — 5,203 5,203 — Total earning assets 112,566 112,270 296 115,020 116,273 (1,253 ) Interest-bearing liabilities Short-term borrowings 3,289 3,281 (8 ) 2,346 2,334 (12 ) Long-term borrowings 107,991 108,557 566 109,826 112,368 2,542 Total interest-bearing liabilities 111,280 111,838 558 112,172 114,702 2,530 Derivative financial instruments Floor Income Contracts (126 ) (126 ) — (184 ) (184 ) — Interest rate swaps 256 256 — 357 357 — Cross-currency interest rate swaps (449 ) (449 ) — (1,296 ) (1,296 ) — Other (24 ) (24 ) — (13 ) (13 ) — Excess of net asset fair value over carrying value $ 854 $ 1,277 (1) “Cash and investments” includes available-for-sale

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Results and Reconciliations to GAAP	Segment Results and Reconciliations to GAAP Three Months Ended September 30, 2017 Adjustments (Dollars in millions) FFELP Loans Private Education Loans Business Services Other Elimina- tions (1) Total “Core Earnings” Reclassi- fications Additions/ (Subtractions) Total Adjustments (2) Total GAAP Interest income: Education loans $ 678 $ 445 $ — $ — $ — $ 1,123 $ 16 $ (13 ) $ 3 $ 1,126 Other loans — — — 2 — 2 — — — 2 Cash and investments 9 1 — 2 — 12 — — — 12 Total interest income 687 446 — 4 — 1,137 16 (13 ) 3 1,140 Total interest expense 530 221 — 41 — 792 (5 ) (2 ) (7 ) 785 Net interest income (loss) 157 225 — (37 ) — 345 21 (11 ) 10 355 Less: provisions for loan losses 10 95 — — — 105 — — — 105 Net interest income (loss) after provisions for loan losses 147 130 — (37 ) — 240 21 (11 ) 10 250 Other income (loss): Servicing revenue 14 3 144 — (86 ) 75 — — — 75 Asset recovery and business processing revenue — — 157 — — 157 — — — 157 Other income (loss) — — — 3 — 3 (21 ) 47 26 29 Gains on sales of loans and investments — — — 3 — 3 — — — 3 Losses on debt repurchases — — — (1 ) — (1 ) — — — (1 ) Total other income (loss) 14 3 301 5 (86 ) 237 (21 ) 47 26 263 Expenses: Direct operating expenses 88 39 135 7 (86 ) 183 — — — 183 Overhead expenses — — — 55 — 55 — — — 55 Operating expenses 88 39 135 62 (86 ) 238 — — — 238 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 6 6 6 Total expenses 88 39 135 62 (86 ) 238 — 6 6 244 Income (loss) before income tax expense (benefit) 73 94 166 (94 ) — 239 — 30 30 269 Income tax expense (benefit) (3) 27 34 61 (35 ) — 87 — 6 6 93 Net income (loss) $ 46 $ 60 $ 105 $ (59 ) $ — $ 152 $ — $ 24 $ 24 $ 176 (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, 2017 (Dollars in millions) Net Impact of Derivative Accounting Net Impact of Goodwill and Acquired Intangible Assets Total Net interest income (loss) after provisions for loan losses $ 10 $ — $ 10 Total other income (loss) 26 — 26 Goodwill and acquired intangible asset impairment and amortization — 6 6 Total “Core Earnings” adjustments to GAAP $ 36 $ (6 ) 30 Income tax expense (benefit) 6 Net income (loss) $ 24 (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Three Months Ended September 30, 2016 Adjustments (Dollars in millions) FFELP Loans Private Education Loans Business Services Other Elimina- tions (1) Total “Core Earnings” Reclassi- fications Additions/ (Subtractions) Total Adjustments (2) Total GAAP 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 Total expenses 99 40 124 61 (96 ) 228 — 12 12 240 Income (loss) 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) $ 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 of Derivative Accounting Net Impact of Goodwill and Acquired Intangible Assets Total Net interest income (loss) after provisions for loan losses $ 7 $ — $ 7 Total other income (loss) 132 — 132 Goodwill and acquired intangible asset impairment and amortization — 12 12 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. Nine Months Ended September 30, 2017 Adjustments (Dollars in millions) FFELP Loans Private Education Loans Business Services Other Elimina- tions (1) Total “Core Earnings” Reclassi- fications Additions/ (Subtractions) Total Adjustments (2) Total GAAP Interest income: Education loans $ 1,966 $ 1,204 $ — $ — $ — $ 3,170 $ 54 $ (41 ) $ 13 $ 3,183 Other loans — — — 12 — 12 — — — 12 Cash and investments 20 3 — 6 — 29 — — — 29 Total interest income 1,986 1,207 — 18 — 3,211 54 (41 ) 13 3,224 Total interest expense 1,481 601 — 107 — 2,189 (3 ) (8 ) (11 ) 2,178 Net interest income (loss) 505 606 — (89 ) — 1,022 57 (33 ) 24 1,046 Less: provisions for loan losses 30 285 — 2 — 317 — — — 317 Net interest income (loss) after provisions for loan losses 475 321 — (91 ) — 705 57 (33 ) 24 729 Other income (loss): Servicing revenue 40 7 438 — (264 ) 221 — — — 221 Asset recovery and business processing revenue — — 367 — — 367 — — — 367 Other income (loss) — — 2 11 — 13 (57 ) 31 (26 ) (13 ) Gains on sales of loans and investments — — — 3 — 3 — — — 3 Losses on debt repurchases — — — (1 ) — (1 ) — — — (1 ) Total other income (loss) 40 7 807 13 (264 ) 603 (57 ) 31 (26 ) 577 Expenses: Direct operating expenses 272 117 391 18 (264 ) 534 — — — 534 Overhead expenses — — — 173 — 173 — — — 173 Operating expenses 272 117 391 191 (264 ) 707 — — — 707 Goodwill and acquired intangible asset impairment and amortization — — — — — — — 17 17 17 Total expenses 272 117 391 191 (264 ) 707 — 17 17 724 Income (loss) before income tax expense (benefit) 243 211 416 (269 ) — 601 — (19 ) (19 ) 582 Income tax expense (benefit) (3) 88 77 152 (98 ) — 219 — (13 ) (13 ) 206 Net income (loss) $ 155 $ 134 $ 264 $ (171 ) $ — $ 382 $ — $ (6 ) $ (6 ) $ 376 (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, 2017 (Dollars in millions) Net Impact of Derivative Accounting Net Impact of Goodwill and Acquired Intangible Assets Total Net interest income (loss) after provisions for loan losses $ 24 $ — $ 24 Total other income (loss) (26 ) — (26 ) Goodwill and acquired intangible asset impairment and amortization — 17 17 Total “Core Earnings” adjustments to GAAP $ (2 ) $ (17 ) (19 ) Income tax expense (benefit) (13 ) Net income (loss) $ (6 ) (3) Income taxes are based on a percentage of net income before tax for the individual reportable segment. Nine Months Ended September 30, 2016 Adjustments (Dollars in millions) FFELP Loans Private Education Loans Business Services Other Eliminations (1) Total “Core Earnings” Reclassi- fications Additions/ (Subtractions) Total Adjustments (2) Total GAAP 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 Total expenses 305 124 383 190 (296 ) 706 — 22 22 728 Income (loss) 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) $ 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 of Derivative Accounting Net Impact of Goodwill and Acquired Intangible Assets Total Net interest income (loss) after provisions for loan losses $ 98 $ — $ 98 Total other income (loss) 63 — 63 Goodwill and acquired intangible asset impairment and amortization — 22 22 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.
Core Earnings Adjustments to GAAP	Summary of “Core Earnings” Adjustments to GAAP Three Months Ended Nine Months Ended (Dollars in millions) 2017 2016 2017 2016 “Core Earnings” adjustments to GAAP: Net impact of derivative accounting (1) $ 36 $ 139 $ (2 ) $ 161 Net impact of goodwill and acquired intangible assets (2) (6 ) (12 ) (17 ) (22 ) Net tax effect (3) (6 ) (54 ) 13 (62 ) Total “Core Earnings” adjustments to GAAP $ 24 $ 73 $ (6 ) $ 77 (1) Derivative accounting: mark-to-market (2) Goodwill and acquired intangible assets: (3) Net tax effect:
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 $ 83,916 $ 87,730 Cash and investments (1) 2,893 3,212 Other 2,315 1,907 Total assets $ 89,124 $ 92,849 (1) Includes restricted cash and investments.
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 $ 23,424 $ 23,340 Cash and investments (1) 723 667 Other 1,126 1,567 Total assets $ 25,273 $ 25,574 (1) Includes restricted cash and investments.

Significant Accounting Polici29

Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Jun. 01, 2017	Dec. 31, 2016	Sep. 30, 2016
Summary Of Significant Accounting Policies [Line Items]
Loans purchased, Unpaid principal amount			$ 6,500,000,000
FFELP Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Loans purchased, Unpaid principal amount			3,500,000,000
Loans receivable, Fair Value	$ 84,016,000,000	$ 84,016,000,000		$ 86,626,000,000
Uncollected contractual principal and interest payments	66,220,000,000	66,220,000,000			$ 72,203,000,000
Loans receivable, carrying amount	83,916,000,000	83,916,000,000		87,730,000,000
Loans receivable, discount	45,000,000	45,000,000	47,000,000
Allowance for loans acquired	0	0
FFELP Loans [Member] | Loans Acquired With Non-Deteriorated Credit Quality [Member]
Summary Of Significant Accounting Policies [Line Items]
Loans receivable, principal amount			3,500,000,000
Default Aversion Service [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred asset recovery revenue recognized	47,000,000
Private Education Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Loans purchased, Unpaid principal amount			3,000,000,000
Loans receivable, Fair Value	23,620,000,000	23,620,000,000		23,191,000,000
Uncollected contractual principal and interest payments	22,448,000,000	22,448,000,000			$ 22,556,000,000
Estimated accretable yield			108,000,000
Valuation allowance	0	0
Loans receivable, carrying amount	23,424,000,000	23,424,000,000		$ 23,340,000,000
Loans receivable, discount	405,000,000	405,000,000	424,000,000
Allowance for loans acquired	0	0
Private Education Loans [Member] | Loans Acquired With Non-Deteriorated Credit Quality [Member]
Summary Of Significant Accounting Policies [Line Items]
Loans receivable, principal amount			2,800,000,000
Private Education Loans [Member] | Loans With Deteriorated Credit Quality [Member]
Summary Of Significant Accounting Policies [Line Items]
Loans receivable, principal amount			261,000,000
Loans receivable, Fair Value			101,000,000
Uncollected contractual principal and interest payments			$ 411,000,000
Loans receivable, carrying amount	$ 100,000,000	100,000,000
Adjustments for New Accounting Pronouncement [Member]
Summary Of Significant Accounting Policies [Line Items]
Reduction to income tax expense		$ 5,000,000

Allowance for Loan Losses - Add

Allowance for Loan Losses - Additional Information (Detail) $ in Billions	9 Months Ended	12 Months Ended
	Sep. 30, 2017USD ($)PointLoans	Dec. 31, 2016USD ($)	Jun. 01, 2017USD ($)
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans purchased, Unpaid principal amount			$ 6.5
Percentage of loans granted forbearance that migrated to TDR classification	60.00%	61.00%
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	$ 2.7	$ 2.6
FFELP Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans purchased, Unpaid principal amount			3.5
Maximum [Member] | FICO Score, 600 to 699 [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Original FICO score at for-profit schools to become eligible for non-traditional loans | Point	670
Minimum [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Delinquency period (in days)	212 days
Minimum [Member] | FICO Score, 600 to 699 [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Original FICO score at for-profit schools to become eligible for non-traditional loans | Point	640
Private Education Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans purchased, Unpaid principal amount			$ 3
Number of classes of loans | Loans	2

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, 2017USD ($)SecurityLoan	Sep. 30, 2016USD ($)SecurityLoan	Sep. 30, 2017USD ($)SecurityLoan	Sep. 30, 2016USD ($)SecurityLoan	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Allowance for Loan Losses
Beginning balance	$ 1,362	$ 1,491	$ 1,433	$ 1,564
Total provision	105	106	317	327
Charge-offs	(109)	(126)	(396)	(426)
Reclassification of interest reserve	2	2	6	8
Ending total allowance	1,360	1,473	1,360	1,473
Allowance Ending Balance:
Individually evaluated for impairment	1,179	1,164	1,179	1,164
Collectively evaluated for impairment:
Excluding Purchased Non-Credit Impaired Loans and Purchased Credit Impaired Loans					$ 181
Purchased Non-Credit Impaired Loans					0
Purchased Credit Impaired Loans					0
Ending total allowance	1,360	1,473	1,360	1,473
Collectively evaluated for impairment		309		309
Loans Ending Balance:
Individually evaluated for impairment	10,991	11,214	10,991	11,214
Collectively evaluated for impairment:
Excluding Purchased Non-Credit Impaired Loans and Purchased Credit Impaired Loans					91,747
Purchased Non-Credit Impaired Loans					6,018
Purchased Credit Impaired Loans					258
Ending total loans					109,014	$ 115,196
Ending balance: collectively evaluated for impairment		103,982		103,982
Individually evaluated for impairment	10,991	11,214	10,991	11,214	10,991	11,214
FFELP Loans [Member]
Allowance for Loan Losses
Beginning balance	61	66	67	78
Total provision	10	13	30	30
Charge-offs	(10)	(13)	(36)	(42)
Ending total allowance	61	66	61	66
Collectively evaluated for impairment:
Excluding Purchased Non-Credit Impaired Loans and Purchased Credit Impaired Loans					61
Purchased Non-Credit Impaired Loans					0
Purchased Credit Impaired Loans					0
Ending total allowance	$ 61	66	$ 61	66
Collectively evaluated for impairment		$ 66		$ 66
Collectively evaluated for impairment:
Excluding Purchased Non-Credit Impaired Loans and Purchased Credit Impaired Loans					79,923
Purchased Non-Credit Impaired Loans					3,362
Ending total loans					83,285	89,201
Charge-offs as a percentage of average loans in repayment (annualized)	0.05%	0.07%	0.07%	0.08%
Allowance coverage of charge-offs (annualized) | SecurityLoan	1.7	1.2	1.3	1.2
Allowance as a percentage of the ending total loan balance	0.07%	0.07%	0.07%	0.07%
Allowance as a percentage of the ending loans in repayment	0.09%	0.09%	0.09%	0.09%
Average loans in repayment	$ 68,168	$ 72,927	$ 68,791	$ 73,200
Ending loans in repayment					66,220	72,203
Ending balance: collectively evaluated for impairment		89,201		89,201
Private Education Loans [Member]
Allowance for Loan Losses
Beginning balance	1,286	1,410	1,351	1,471
Total provision	95	92	285	296
Charge-offs	(96)	(112)	(355)	(383)
Reclassification of interest reserve	2	2	6	8
Ending total allowance	1,287	1,392	1,287	1,392
Allowance Ending Balance:
Individually evaluated for impairment	1,169	1,153	1,169	1,153
Collectively evaluated for impairment:
Excluding Purchased Non-Credit Impaired Loans and Purchased Credit Impaired Loans					118
Purchased Non-Credit Impaired Loans					0
Purchased Credit Impaired Loans					0
Ending total allowance	1,287	1,392	1,287	1,392
Collectively evaluated for impairment		239		239
Loans Ending Balance:
Individually evaluated for impairment	$ 10,961	$ 11,182	$ 10,961	$ 11,182
Collectively evaluated for impairment:
Excluding Purchased Non-Credit Impaired Loans and Purchased Credit Impaired Loans					11,790
Purchased Non-Credit Impaired Loans					2,656
Purchased Credit Impaired Loans					258
Ending total loans					25,665	25,864
Charge-offs as a percentage of average loans in repayment (annualized)	1.63%	1.94%	2.14%	2.17%
Allowance coverage of charge-offs (annualized) | SecurityLoan	3.4	3.1	2.7	2.7
Allowance as a percentage of the ending total loan balance	5.02%	5.38%	5.02%	5.38%
Allowance as a percentage of the ending loans in repayment	5.73%	6.17%	5.73%	6.17%
Average loans in repayment	$ 23,112	$ 22,959	$ 22,180	$ 23,564
Ending loans in repayment					22,448	22,556
Ending balance: collectively evaluated for impairment		14,682		14,682
Individually evaluated for impairment	10,961	11,182	10,961	11,182	10,961	11,182
Other Loans [Member]
Allowance for Loan Losses
Beginning balance	15	15	15	15
Total provision		1	2	1
Charge-offs	(3)	(1)	(5)	(1)
Ending total allowance	12	15	12	15
Allowance Ending Balance:
Individually evaluated for impairment	10	11	10	11
Collectively evaluated for impairment:
Excluding Purchased Non-Credit Impaired Loans and Purchased Credit Impaired Loans					2
Purchased Non-Credit Impaired Loans					0
Purchased Credit Impaired Loans					0
Ending total allowance	12	15	12	15
Collectively evaluated for impairment		4		4
Loans Ending Balance:
Individually evaluated for impairment	$ 30	$ 32	$ 30	$ 32
Collectively evaluated for impairment:
Excluding Purchased Non-Credit Impaired Loans and Purchased Credit Impaired Loans					34
Ending total loans					64	131
Charge-offs as a percentage of average loans in repayment (annualized)	16.22%	1.87%	3.92%	1.76%
Allowance coverage of charge-offs (annualized) | SecurityLoan	0.9	7.9	1.7	9.5
Allowance as a percentage of the ending total loan balance	18.59%	11.40%	18.59%	11.40%
Allowance as a percentage of the ending loans in repayment	18.59%	11.40%	18.59%	11.40%
Average loans in repayment	$ 85	$ 102	$ 186	$ 89
Ending loans in repayment					64	131
Ending balance: collectively evaluated for impairment		99		99
Individually evaluated for impairment	$ 30	$ 32	$ 30	$ 32	$ 30	$ 32

Allowance for Loan Losses - A32

Allowance for Loan Losses - Allowance for Credit Losses and Recorded Investments in Loans (Parenthetical) (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jun. 01, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans purchased, Unpaid principal amount					$ 6,500,000,000
FFELP Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans purchased, Unpaid principal amount					3,500,000,000
Allowance for loans acquired	$ 0		$ 0
Loans receivable, discount	$ 45,000,000		$ 45,000,000		47,000,000
Allowance as a percentage of the ending total loan balance	0.07%	0.07%	0.07%	0.07%
Allowance as a percentage of the ending loans in repayment	0.09%	0.09%	0.09%	0.09%
FFELP Loans [Member] | Loans Receivable Excluding Recent Loans Acquired [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance as a percentage of the ending total loan balance	0.08%		0.08%
Allowance as a percentage of the ending loans in repayment	0.10%		0.10%
Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans purchased, Unpaid principal amount					3,000,000,000
Allowance for loans acquired	$ 0		$ 0
Loans receivable, discount	$ 405,000,000		$ 405,000,000		$ 424,000,000
Allowance as a percentage of the ending total loan balance	5.02%	5.38%	5.02%	5.38%
Allowance as a percentage of the ending loans in repayment	5.73%	6.17%	5.73%	6.17%
Private Education Loans [Member] | Loans Receivable Excluding Recent Loans Acquired [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance as a percentage of the ending total loan balance	5.66%		5.66%
Allowance as a percentage of the ending loans in repayment	6.54%		6.54%

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, 2017	Dec. 31, 2016
Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 24,894	$ 24,333
School Type/FICO Scores [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 24,894	$ 24,333
School Type/FICO Scores [Member] | Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators, Percent	100.00%	100.00%
School Type/FICO Scores [Member] | Private Education Loans [Member] | Traditional Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 22,828	$ 22,367
Total Private Education Loans Credit Quality Indicators, Percent	92.00%	92.00%
School Type/FICO Scores [Member] | Private Education Loans [Member] | Non Traditional Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 2,066	$ 1,966
Total Private Education Loans Credit Quality Indicators, Percent	8.00%	8.00%
Cosigners [Member] | Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators, Percent	100.00%	100.00%
Cosigners [Member] | Private Education Loans [Member] | Cosigner Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 16,137	$ 15,610
Total Private Education Loans Credit Quality Indicators, Percent	65.00%	64.00%
Cosigners [Member] | Private Education Loans [Member] | Non Cosigner Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 8,757	$ 8,723
Total Private Education Loans Credit Quality Indicators, Percent	35.00%	36.00%
Seasoning [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 24,894	$ 24,333
Seasoning [Member] | Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators, Percent	100.00%	100.00%
Seasoning [Member] | Private Education Loans [Member] | 1-12 Payments [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 1,343	$ 1,340
Total Private Education Loans Credit Quality Indicators, Percent	5.00%	5.00%
Seasoning [Member] | Private Education Loans [Member] | 13-24 Payments [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 1,072	$ 1,271
Total Private Education Loans Credit Quality Indicators, Percent	4.00%	5.00%
Seasoning [Member] | Private Education Loans [Member] | 25-36 Payments [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 1,541	$ 1,908
Total Private Education Loans Credit Quality Indicators, Percent	6.00%	8.00%
Seasoning [Member] | Private Education Loans [Member] | 37-48 Payments [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 2,388	$ 2,723
Total Private Education Loans Credit Quality Indicators, Percent	10.00%	11.00%
Seasoning [Member] | Private Education Loans [Member] | More than 48 Payments [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 17,376	$ 15,698
Total Private Education Loans Credit Quality Indicators, Percent	70.00%	65.00%
Seasoning [Member] | Private Education Loans [Member] | Not Yet in Repayment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Private Education Loans Credit Quality Indicators	$ 1,174	$ 1,393
Total Private Education Loans Credit Quality Indicators, Percent	5.00%	6.00%

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, 2017	Dec. 31, 2016	Jun. 30, 2017	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Loans in repayment and percentage of each status:
Loans allowance for losses	$ (1,360)	$ (1,433)	$ (1,362)	$ (1,473)	$ (1,491)	$ (1,564)
FFELP Loans [Member]
Loans in repayment and percentage of each status:
Total loans in repayment	66,220			72,203
Loans allowance for losses	(61)	(67)	$ (61)	$ (66)	$ (66)	$ (78)
Loans, net	83,916	87,730
Credit Concentration Risk [Member] | Private Education Loans - Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	22,828	22,367
Loans in repayment and percentage of each status:
Loans current	19,558	19,020
Total loans in repayment	20,646	20,396
Total loans, gross	22,828	22,367
Loans unamortized premium (discount)	(831)	(402)
Total loans	21,997	21,965
Loans receivable for partially charged-off loans	502	526
Loans allowance for losses	(1,086)	(1,138)
Loans, net	21,413	21,353
Credit Concentration Risk [Member] | Private Education Loans - Non-Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	2,066	1,966
Loans in repayment and percentage of each status:
Total loans in repayment	1,802	1,754
Total loans, gross	2,066	1,966
Loans unamortized premium (discount)	(123)	(55)
Total loans	1,943	1,911
Loans receivable for partially charged-off loans	269	289
Loans allowance for losses	(201)	(213)
Loans, net	2,011	1,987
Credit Concentration Risk [Member] | Troubled Debt Restructuring Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	10,580	10,805
Loans in repayment and percentage of each status:
Total loans in repayment	9,143	9,638
Total loans, gross	10,580	10,805
Credit Concentration Risk [Member] | School/Grace/Deferment [Member] | Private Education Loans - Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	1,065	1,271
Loans in repayment and percentage of each status:
Total loans, gross	1,065	1,271
Credit Concentration Risk [Member] | School/Grace/Deferment [Member] | Private Education Loans - Non-Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	109	122
Loans in repayment and percentage of each status:
Total loans, gross	109	122
Credit Concentration Risk [Member] | School/Grace/Deferment [Member] | Troubled Debt Restructuring Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	506	579
Loans in repayment and percentage of each status:
Total loans, gross	506	579
Credit Concentration Risk [Member] | Forbearance [Member] | Private Education Loans - Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	1,117	700
Loans in repayment and percentage of each status:
Total loans, gross	1,117	700
Credit Concentration Risk [Member] | Forbearance [Member] | Private Education Loans - Non-Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	155	90
Loans in repayment and percentage of each status:
Total loans, gross	155	90
Credit Concentration Risk [Member] | Forbearance [Member] | Troubled Debt Restructuring Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	931	588
Loans in repayment and percentage of each status:
Total loans, gross	931	588
Credit Concentration Risk [Member] | Financing Receivables, Current [Member] | Private Education Loans - Non-Traditional [Member]
Loans in repayment and percentage of each status:
Loans current	1,596	1,486
Credit Concentration Risk [Member] | Financing Receivables, Current [Member] | Troubled Debt Restructuring Loans [Member]
Loans in repayment and percentage of each status:
Loans current	8,133	8,273
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	368	444
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	62	78
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	314	412
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	234	269
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	43	52
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	216	267
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	486	663
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	101	138
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	480	686
Credit Concentration Risk [Member] | FFELP Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	83,285	86,918
Loans in repayment and percentage of each status:
Loans current	58,172	61,977
Total loans in repayment	66,220	70,557
Total loans, gross	83,285	86,918
Loans unamortized premium (discount)	692	879
Total loans	83,977	87,797
Loans allowance for losses	(61)	(67)
Loans, net	83,916	87,730
Credit Concentration Risk [Member] | FFELP Loans [Member] | School/Grace/Deferment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	5,199	5,871
Loans in repayment and percentage of each status:
Total loans, gross	5,199	5,871
Credit Concentration Risk [Member] | FFELP Loans [Member] | Forbearance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans, gross	11,866	10,490
Loans in repayment and percentage of each status:
Total loans, gross	11,866	10,490
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	2,565	2,820
Credit Concentration Risk [Member] | FFELP Loans [Member] | Financing Receivables, 61 to 90 Days Past Due [Member]
Loans in repayment and percentage of each status:
Loans delinquent	1,566	1,325
Credit Concentration Risk [Member] | FFELP Loans [Member] | Financing Receivables, 90 Days Past Due [Member]
Loans in repayment and percentage of each status:
Loans delinquent	$ 3,917	$ 4,435
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Private Education Loans - Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	100.00%	100.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Private Education Loans - Non-Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	100.00%	100.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Troubled Debt Restructuring Loans [Member]
Financing Receivable, Recorded Investment, Past Due [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]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	94.70%	93.30%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Current [Member] | Private Education Loans - Non-Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	88.50%	84.80%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Current [Member] | Troubled Debt Restructuring Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	89.00%	85.80%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 31 to 60 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	1.80%	2.20%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 31 to 60 Days Past Due [Member] | Private Education Loans - Non-Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	3.50%	4.50%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 31 to 60 Days Past Due [Member] | Troubled Debt Restructuring Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	3.40%	4.30%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 61 to 90 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	1.10%	1.30%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 61 to 90 Days Past Due [Member] | Private Education Loans - Non-Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	2.40%	2.90%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 61 to 90 Days Past Due [Member] | Troubled Debt Restructuring Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	2.40%	2.80%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 90 Days Past Due [Member] | Private Education Loans - Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	2.40%	3.20%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 90 Days Past Due [Member] | Private Education Loans - Non-Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	5.60%	7.80%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, 90 Days Past Due [Member] | Troubled Debt Restructuring Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	5.20%	7.10%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Loans In Repayment [Member] | Private Education Loans - Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	90.40%	91.20%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Loans In Repayment [Member] | Private Education Loans - Non-Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	87.20%	89.20%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Delinquent Loans in Repayment [Member] | Private Education Loans - Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	5.30%	6.70%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Delinquent Loans in Repayment [Member] | Private Education Loans - Non-Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	11.50%	15.20%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Forbearance, Loans In Repayment [Member] | Private Education Loans - Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	5.10%	3.30%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Financing Receivables, Forbearance, Loans In Repayment [Member] | Private Education Loans - Non-Traditional [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	7.90%	4.90%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	100.00%	100.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	87.80%	87.80%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, 31 to 60 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	3.90%	4.00%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, 61 to 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	2.40%	1.90%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans delinquent, percentage	5.90%	6.30%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, Loans In Repayment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	79.50%	81.20%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, Delinquent Loans in Repayment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	12.20%	12.20%
Credit Concentration Risk [Member] | Accounts Receivable [Member] | FFELP Loans [Member] | Financing Receivables, Forbearance, Loans In Repayment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Dimensions of concentration risk	15.20%	12.90%

Allowance for Loan Losses - Rec

Allowance for Loan Losses - Receivable for Partially Charged-Off Private Education Loans (Detail) - Private Education Loans [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Financing Receivable, Allowance for Credit Losses [Line Items]
Receivable at beginning of period			$ 23,340
Receivable at end of period	$ 23,424		23,424
Loans Receivable For Partially Charged Off Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Receivable at beginning of period	784	$ 847	815	$ 881
Expected future recoveries of current period defaults	24	28	88	96
Recoveries	(37)	(44)	(121)	(140)
Charge-offs		(3)	(11)	(9)
Receivable at end of period	$ 771	$ 828	$ 771	$ 828

Allowance for Loan Losses - R36

Allowance for Loan Losses - Recorded Investment, Unpaid Principal Balance and Related Allowance for TDR Loans (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Impaired [Line Items]
TDR Loans, Recorded Investment	$ 10,539	$ 10,759
TDR loans, Unpaid Principal Balance	10,580	10,805
TDR Loans, Related Allowance	1,169	1,190
Private Education Loans - Traditional [Member]
Financing Receivable, Impaired [Line Items]
TDR Loans, Recorded Investment	9,245	9,386
TDR loans, Unpaid Principal Balance	9,282	9,429
TDR Loans, Related Allowance	985	1,003
Private Education Loans - Non-Traditional [Member]
Financing Receivable, Impaired [Line Items]
TDR Loans, Recorded Investment	1,294	1,373
TDR loans, Unpaid Principal Balance	1,298	1,376
TDR Loans, Related Allowance	$ 184	$ 187

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Average Recorded Investment	$ 10,562	$ 10,769	$ 10,643	$ 10,721
Impaired financing receivable, Interest Income Recognized	180	167	528	497
Private Education Loans - Traditional [Member]
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Average Recorded Investment	9,257	9,367	9,310	9,303
Impaired financing receivable, Interest Income Recognized	153	140	448	416
Private Education Loans - Non-Traditional [Member]
Financing Receivable, Impaired [Line Items]
Impaired financing receivable, Average Recorded Investment	1,305	1,402	1,333	1,418
Impaired financing receivable, Interest Income Recognized	$ 27	$ 27	$ 80	$ 81

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Financing Receivable, Modifications [Line Items]
Modified Loans	$ 200	$ 254	$ 618	$ 934
Charge-Offs	80	86	280	282
Payment-Default	43	67	144	206
Private Education Loans - Traditional [Member]
Financing Receivable, Modifications [Line Items]
Modified Loans	186	233	574	861
Charge-Offs	63	68	223	221
Payment-Default	38	56	126	174
Private Education Loans - Non-Traditional [Member]
Financing Receivable, Modifications [Line Items]
Modified Loans	14	21	44	73
Charge-Offs	17	18	57	61
Payment-Default	$ 5	$ 11	$ 18	$ 32

Allowance for Loan Losses - Acc

Allowance for Loan Losses - Accrued Interest Receivable (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	$ 1,804	$ 1,663
Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	387	391
Accrued Interest Receivable, Allowance for Uncollectible Interest	25	30
Private Education Loans [Member] | Traditional Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	338	344
Accrued Interest Receivable, Allowance for Uncollectible Interest	20	23
Private Education Loans [Member] | Non Traditional Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	49	47
Accrued Interest Receivable, Allowance for Uncollectible Interest	5	7
Accrued Interest Receivable, Greater Than 90 Days Past Due [Member] | Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	24	33
Accrued Interest Receivable, Greater Than 90 Days Past Due [Member] | Private Education Loans [Member] | Traditional Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	19	26
Accrued Interest Receivable, Greater Than 90 Days Past Due [Member] | Private Education Loans [Member] | Non Traditional Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued Interest Receivable	$ 5	$ 7

Borrowings - Company's Borrowin

Borrowings - Company's Borrowings (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Short-term borrowings	$ 3,281	$ 2,334
Long-term borrowings	108,557	112,368
Total	111,838	114,702
Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Short-term borrowings	3,245	2,335
Long-term borrowings	108,533	113,119
Total	111,778	115,454
Total Before Hedge Accounting Adjustments [Member] | Senior Unsecured Debt [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,390	717
Long-term borrowings	12,366	13,029
Total	13,756	13,746
Total Before Hedge Accounting Adjustments [Member] | Total Unsecured Borrowings [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,390	717
Long-term borrowings	12,366	13,029
Total	13,756	13,746
Total Before Hedge Accounting Adjustments [Member] | FFELP Loan Securitizations [Member]
Debt Instrument [Line Items]
Long-term borrowings	72,674	73,522
Total	72,674	73,522
Total Before Hedge Accounting Adjustments [Member] | Private Education Loan Securitizations [Member]
Debt Instrument [Line Items]
Short-term borrowings	686	548
Long-term borrowings	12,575	14,125
Total	13,261	14,673
Total Before Hedge Accounting Adjustments [Member] | FFELP Loan - Other Facilities [Member]
Debt Instrument [Line Items]
Long-term borrowings	9,140	12,443
Total	9,140	12,443
Total Before Hedge Accounting Adjustments [Member] | Private Education Loan - Other Facilities [Member]
Debt Instrument [Line Items]
Short-term borrowings	687	464
Long-term borrowings	1,778
Total	2,465	464
Total Before Hedge Accounting Adjustments [Member] | Other [Member]
Debt Instrument [Line Items]
Short-term borrowings	482	606
Total	482	606
Total Before Hedge Accounting Adjustments [Member] | Secured Borrowings [Member]
Debt Instrument [Line Items]
Short-term borrowings	1,855	1,618
Long-term borrowings	96,167	100,090
Total	98,022	101,708
Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Short-term borrowings	36	(1)
Long-term borrowings	24	(751)
Total	$ 60	$ (752)

Borrowings - Company's Borrow41

Borrowings - Company's Borrowings (Parenthetical) (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt	$ 108,557	$ 112,368
Short-term Debt	3,281	2,334
Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Long-term debt	108,533	113,119
Short-term Debt	3,245	2,335
Other [Member] | Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Short-term Debt	482	606
Private Education Loan Securitizations Repurchase Facilities [Member] | Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Long-term debt	1,300	475
Short-term Debt	686	548
Maturity Overnight [Member] | Other [Member] | Total Before Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Securities re-pledged subject to an overnight repurchase transaction	$ 70	$ 193

Borrowings - Financing VIEs (De

Borrowings - Financing VIEs (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Securities Financing Transaction [Line Items]
Short-term borrowings	$ 3,281	$ 2,334
Long-term borrowings	108,557	112,368
Total Debt Outstanding	111,838	114,702
Total Before Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	3,245	2,335
Long-term borrowings	108,533	113,119
Total Debt Outstanding	111,778	115,454
Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	36	(1)
Long-term borrowings	24	(751)
Total Debt Outstanding	60	(752)
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	1,373	1,078
Long-term borrowings	92,903	95,492
Total Debt Outstanding	94,276	96,570
Loans	100,777	104,008
Cash	3,235	3,434
Other assets, Net	934	(11)
Total Carrying Amount of Assets Securing Debt Outstanding	104,946	107,431
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loan Securitizations [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	72,674	73,522
Total Debt Outstanding	72,674	73,522
Loans	73,611	74,197
Cash	2,495	2,676
Other assets, Net	932	778
Total Carrying Amount of Assets Securing Debt Outstanding	77,038	77,651
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Private Education Loan Securitizations [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	686	548
Long-term borrowings	12,575	14,125
Total Debt Outstanding	13,261	14,673
Loans	17,546	19,815
Cash	490	455
Other assets, Net	235	260
Total Carrying Amount of Assets Securing Debt Outstanding	18,271	20,530
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | FFELP Loan - Other Facilities [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	6,211	9,046
Total Debt Outstanding	6,211	9,046
Loans	6,331	9,232
Cash	181	289
Other assets, Net	155	172
Total Carrying Amount of Assets Securing Debt Outstanding	6,667	9,693
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Private Education Loan - Other Facilities [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	687	464
Long-term borrowings	1,778
Total Debt Outstanding	2,465	464
Loans	3,289	685
Cash	69	10
Other assets, Net	44	14
Total Carrying Amount of Assets Securing Debt Outstanding	3,402	709
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Total Before Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings	1,373	1,078
Long-term borrowings	93,238	96,693
Total Debt Outstanding	94,611	97,771
Loans	100,777	104,008
Cash	3,235	3,434
Other assets, Net	1,366	1,224
Total Carrying Amount of Assets Securing Debt Outstanding	105,378	108,666
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Hedge Accounting Adjustments [Member]
Securities Financing Transaction [Line Items]
Long-term borrowings	(335)	(1,201)
Total Debt Outstanding	(335)	(1,201)
Other assets, Net	(432)	(1,235)
Total Carrying Amount of Assets Securing Debt Outstanding	$ (432)	(1,235)
Assets and Liabilities of Consolidated Variable Interest Entities [Member] | Other [Member]
Securities Financing Transaction [Line Items]
Short-term borrowings		66
Total Debt Outstanding		66
Loans		79
Cash		4
Total Carrying Amount of Assets Securing Debt Outstanding		$ 83

Borrowings - Financing VIEs (Pa

Borrowings - Financing VIEs (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Securities Financing Transaction [Line Items]
Long-term debt	$ 108,557	$ 112,368
Short-term Debt	3,281	2,334
Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Securities Financing Transaction [Line Items]
Long-term debt	92,903	95,492
Short-term Debt	1,373	1,078
Restricted cash	3,235	3,434
Private Education Loan Securitizations Repurchase Facilities [Member] | Assets and Liabilities of Consolidated Variable Interest Entities [Member]
Securities Financing Transaction [Line Items]
Long-term debt	1,300	475
Short-term Debt	686	548
Restricted cash	$ 109	$ 49

Derivative Financial Instrume44

Derivative Financial Instruments - Impact of Derivatives on Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Derivative Assets:
Derivative assets	$ 482	$ 565
Derivative Liabilities:
Derivative liabilities	(825)	(1,701)
Net total derivatives	(343)	(1,136)
Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	424	565
Derivative Liabilities:
Derivative liabilities	(168)	(208)
Cross-Currency Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	58
Derivative Liabilities:
Derivative liabilities	(507)	(1,296)
Other [Member]
Derivative Liabilities:
Derivative liabilities	(24)	(13)
Floor Income Contracts [Member]
Derivative Liabilities:
Derivative liabilities	(126)	(184)
Designated as Hedging Instrument [Member] | Cash Flow [Member]
Derivative Assets:
Derivative assets	49	78
Derivative Liabilities:
Derivative liabilities	(44)	(76)
Net total derivatives	5	2
Designated as Hedging Instrument [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	424	465
Derivative Liabilities:
Derivative liabilities	(520)	(1,305)
Net total derivatives	(96)	(840)
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Cash Flow [Member]
Derivative Assets:
Derivative assets	49	78
Derivative Liabilities:
Derivative liabilities	(44)	(76)
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	366	465
Derivative Liabilities:
Derivative liabilities	(57)	(62)
Designated as Hedging Instrument [Member] | Cross-Currency Interest Rate Swaps [Member] | Fair Value [Member]
Derivative Assets:
Derivative assets	58
Derivative Liabilities:
Derivative liabilities	(463)	(1,243)
Trading [Member]
Derivative Assets:
Derivative assets	9	22
Derivative Liabilities:
Derivative liabilities	(261)	(320)
Net total derivatives	(252)	(298)
Trading [Member] | Interest Rate Swaps [Member]
Derivative Assets:
Derivative assets	9	22
Derivative Liabilities:
Derivative liabilities	(67)	(70)
Trading [Member] | Cross-Currency Interest Rate Swaps [Member]
Derivative Liabilities:
Derivative liabilities	(44)	(53)
Trading [Member] | Other [Member]
Derivative Liabilities:
Derivative liabilities	(24)	(13)
Trading [Member] | Floor Income Contracts [Member]
Derivative Liabilities:
Derivative liabilities	$ (126)	$ (184)

Derivative Financial Instrume45

Derivative Financial Instruments - Gross Positions without Impact of Master Netting Agreements (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Gross position, Assets	$ 482	$ 565
Derivative values with impact of master netting agreements (as carried on balance sheet), Assets	446	534
Cash collateral (held) pledged, Assets	(411)	(345)
Gross position, Liabilities	(825)	(1,701)
Cash collateral (held) pledged, Liabilities	263	319
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross position, Liabilities	(825)	(1,701)
Impact of master netting agreements, Liabilities	36	31
Derivative values with impact of master netting agreements (as carried on balance sheet), Liabilities	(789)	(1,670)
Cash collateral (held) pledged, Liabilities	263	319
Net position, Liabilities	(526)	(1,351)
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Gross position, Assets	482	565
Impact of master netting agreements, Assets	(36)	(31)
Derivative values with impact of master netting agreements (as carried on balance sheet), Assets	446	534
Cash collateral (held) pledged, Assets	(411)	(345)
Net position, Assets	$ 35	$ 189

Derivative Financial Instrume46

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Decrease in valuation due to net credit risk adjustments	$ 4	$ 0
Decrease in valuation due to liquidity adjustments	34	31
Derivative liability at fair value including accrued interest and premium receivable	784	$ 1,670
Counterparty [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liability at fair value including accrued interest and premium receivable	$ 282

Derivative Financial Instrume47

Derivative Financial Instruments - Derivative Notional Values (Detail) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Derivative [Line Items]
Total Derivative Notional Values	$ 130,700,000,000	$ 80,700,000,000
Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	99,500,000,000	50,800,000,000
Floor Income Contracts [Member]
Derivative [Line Items]
Total Derivative Notional Values	21,900,000,000	18,500,000,000
Cross-Currency Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	7,100,000,000	8,800,000,000
Other [Member]
Derivative [Line Items]
Total Derivative Notional Values	2,200,000,000	2,600,000,000
Designated as Hedging Instrument [Member] | Cash Flow [Member]
Derivative [Line Items]
Total Derivative Notional Values	24,700,000,000	15,200,000,000
Designated as Hedging Instrument [Member] | Fair Value [Member]
Derivative [Line Items]
Total Derivative Notional Values	19,100,000,000	20,300,000,000
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Cash Flow [Member]
Derivative [Line Items]
Total Derivative Notional Values	24,700,000,000	15,200,000,000
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Fair Value [Member]
Derivative [Line Items]
Total Derivative Notional Values	12,300,000,000	11,800,000,000
Designated as Hedging Instrument [Member] | Cross-Currency Interest Rate Swaps [Member] | Fair Value [Member]
Derivative [Line Items]
Total Derivative Notional Values	6,800,000,000	8,500,000,000
Trading [Member]
Derivative [Line Items]
Total Derivative Notional Values	86,900,000,000	45,200,000,000
Trading [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Total Derivative Notional Values	62,500,000,000	23,800,000,000
Trading [Member] | Floor Income Contracts [Member]
Derivative [Line Items]
Total Derivative Notional Values	21,900,000,000	18,500,000,000
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	$ 2,200,000,000	$ 2,600,000,000

Derivative Financial Instrume48

Derivative Financial Instruments - Impact of Derivatives on Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives, Net	$ (21)	$ (16)	$ (41)	$ (192)
Unrealized Gain (Loss) on Derivatives	269	59	829	610
Total Gain (Loss) On Derivatives, Net	25	137	(16)	111
Realized Gain (Loss) on Derivatives	(23)	4	(31)	(80)
Unrealized Gain (Loss) on Hedged Item	(223)	94	(804)	(307)
Total Gain (Loss) on Derivatives, Gross	23	157	(6)	223
Trading [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	36	96	86	234
Realized Gain (Loss) on Derivatives	(21)	(16)	(41)	(192)
Unrealized Gain (Loss) on Derivatives, Net	269	59	829	610
Total Gain (Loss) on Derivatives, Gross	15	80	45	42
Trading [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	7	(20)	(9)	44
Realized Gain (Loss) on Derivatives	(1)	14	25	35
Total Gain (Loss) on Derivatives, Gross	6	(6)	16	79
Trading [Member] | Cross-Currency Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives		6	9	51
Realized Gain (Loss) on Derivatives	(1)	(1)	(4)	(3)
Total Gain (Loss) on Derivatives, Gross	(1)	5	5	48
Trading [Member] | Floor Income Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	31	113	97	147
Realized Gain (Loss) on Derivatives	(16)	(28)	(54)	(222)
Total Gain (Loss) on Derivatives, Gross	15	85	43	(75)
Trading [Member] | Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	(2)	(3)	(11)	(8)
Realized Gain (Loss) on Derivatives	(3)	(1)	(8)	(2)
Total Gain (Loss) on Derivatives, Gross	(5)	(4)	(19)	(10)
Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	(223)	94	(804)	(307)
Designated as Hedging Instrument [Member] | Fair Value [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	233	(37)	743	376
Realized Gain (Loss) on Derivatives	8	40	51	143
Unrealized Gain (Loss) on Hedged Item	(223)	94	(804)	(307)
Total Gain (Loss) on Derivatives, Gross	18	97	(10)	212
Designated as Hedging Instrument [Member] | Fair Value [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	(28)	(149)	(94)	166
Realized Gain (Loss) on Derivatives	38	62	139	201
Unrealized Gain (Loss) on Hedged Item	39	175	62	(172)
Total Gain (Loss) on Derivatives, Gross	49	88	107	195
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	261	112	837	210
Realized Gain (Loss) on Derivatives	(30)	(22)	(88)	(58)
Unrealized Gain (Loss) on Hedged Item	(262)	(81)	(866)	(135)
Total Gain (Loss) on Derivatives, Gross	(31)	9	(117)	17
Designated as Hedging Instrument [Member] | Cash Flow [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives	(10)	(20)	(41)	(31)
Total Gain (Loss) on Derivatives, Gross	(10)	(20)	(41)	(31)
Designated as Hedging Instrument [Member] | Cash Flow [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives	(10)	(20)	(41)	(31)
Total Gain (Loss) on Derivatives, Gross	(10)	(20)	(41)	(31)
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Less: realized gains (losses) recorded in interest expense	(2)	20	10	112
Realized Gain (Loss) on Derivatives	$ (2)	$ 20	$ 10	$ 112

Derivative Financial Instrume49

Derivative Financial Instruments - Collateral Held and Pledged (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Collateral held:
Cash (obligation to return cash collateral is recorded in short-term borrowings)	$ 411	$ 345
Securities at fair value - corporate derivatives (not recorded in financial statements)	67	193
Securities at fair value - on-balance sheet securitization derivatives (not recorded in financial statements)	300	230
Total collateral held	778	768
Derivative asset at fair value including accrued interest	619	689
Collateral pledged to others:
Cash (right to receive return of cash collateral is recorded in investments)	263	319
Total collateral pledged	263	319
Derivative liability at fair value including accrued interest and premium receivable	$ 784	$ 1,670

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Offsetting [Abstract]
Accrued interest receivable, net	$ 1,804	$ 1,663
Income tax asset, net current and deferred	623	725
Benefit and insurance-related investments	487	488
Derivatives at fair value	446	534
Fixed assets, net	152	160
Accounts receivable	135	95
Other loans, net	52	148
Other	389	380
Total	$ 4,088	$ 4,193

Business Combinations - Acqui51

Business Combinations - Acquisition of Duncan Solutions - Additional Information (Detail) - Duncan Solutions [Member] - USD ($) $ in Millions	Jul. 31, 2017	Sep. 30, 2017
Business Acquisition [Line Items]
Business acquisition, effective date of acquisition		Jul. 31, 2017
Payments to acquire business, cash	$ 86

Stockholders' Equity - Common S

Stockholders' Equity - Common Share Repurchases and Issuances (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity, Class of Treasury Stock [Line Items]
Average purchase price per share	$ 14.55	$ 13.95	$ 14.85	$ 12.21
Shares repurchased related to employee stock-based compensation plans	131,374	1,145,017	1,741,529	2,499,729
Average purchase price per share	$ 15.34	$ 14.20	$ 15.56	$ 12.36
Common shares issued	385,676	1,558,455	3,535,988	4,525,047
Common Stock Shares Outstanding [Member]
Equity, Class of Treasury Stock [Line Items]
Common shares repurchased	11,346,367	14,347,974	29,646,374	47,137,636
Shares repurchased related to employee stock-based compensation plans	131,374	1,145,017	1,741,529	2,499,729
Common shares issued	385,676	1,558,455	3,535,988	4,525,047

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
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	$ 165,000,000			$ 200,000,000	$ 440,000,000	$ 575,000,000
Share repurchase program, authorized amount	600,000,000				600,000,000
Authorized share repurchased program remaining available amount	$ 160,000,000				$ 160,000,000
Common Stock [Member]
Class of Stock [Line Items]
Closing price of common stock	$ 15.02				$ 15.02
Common Stock Shares Outstanding [Member]
Class of Stock [Line Items]
Common shares repurchased	11,346,367			14,347,974	29,646,374	47,137,636

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Net income attributable to Navient Corporation	$ 176	$ 230	$ 376	$ 535
Denominator:
Weighted average shares used to compute basic EPS	269	310	279	324
Effect of dilutive securities:
Dilutive effect of stock options, non-vested restricted stock, restricted stock units and Employee Stock Purchase Plans ("ESPPs")	5	6	6	5
Dilutive potential common shares	5	6	6	5
Weighted average shares used to compute diluted EPS	274	316	285	329
Basic earnings (loss) per common share attributable to Navient Corporation	$ 0.65	$ 0.74	$ 1.35	$ 1.65
Diluted earnings (loss) per common share attributable to Navient Corporation	$ 0.64	$ 0.73	$ 1.32	$ 1.63

Earnings per Common Share - S55

Earnings per Common Share - Schedule of Earnings per Common Share (Parenthetical) (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock awards not included in the computation of diluted earnings per share	5	4	5	5

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, 2017	Dec. 31, 2016
Available-for-sale investments:
Available-for-sale investments	$ 3	$ 3
Derivative assets	482	565
Derivative liabilities	(825)	(1,701)
Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	424	565
Derivative liabilities	(168)	(208)
Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	58
Derivative liabilities	(507)	(1,296)
Other [Member]
Available-for-sale investments:
Derivative liabilities	(24)	(13)
Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(126)	(184)
Fair Value Measurements Recurring [Member]
Available-for-sale investments:
Available-for-sale investments	3	3
Derivative assets	482	565
Total	485	568
Derivative liabilities	(825)	(1,701)
Total	(825)	(1,701)
Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	424	565
Derivative liabilities	(168)	(208)
Fair Value Measurements Recurring [Member] | Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	58
Derivative liabilities	(507)	(1,296)
Fair Value Measurements Recurring [Member] | Other [Member]
Available-for-sale investments:
Derivative liabilities	(24)	(13)
Fair Value Measurements Recurring [Member] | Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(126)	(184)
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	2	2
Level 2 [Member] | Fair Value Measurements Recurring [Member]
Available-for-sale investments:
Available-for-sale investments	3	3
Derivative assets	420	553
Total	423	556
Derivative liabilities	(288)	(387)
Total	(288)	(387)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	420	553
Derivative liabilities	(118)	(150)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative liabilities	(44)	(53)
Level 2 [Member] | Fair Value Measurements Recurring [Member] | Floor Income Contracts [Member]
Available-for-sale investments:
Derivative liabilities	(126)	(184)
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	2	2
Level 3 [Member] | Fair Value Measurements Recurring [Member]
Available-for-sale investments:
Derivative assets	62	12
Total	62	12
Derivative liabilities	(537)	(1,314)
Total	(537)	(1,314)
Level 3 [Member] | Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	4	12
Derivative liabilities	(50)	(58)
Level 3 [Member] | Fair Value Measurements Recurring [Member] | Cross-Currency Interest Rate Swaps [Member]
Available-for-sale investments:
Derivative assets	58
Derivative liabilities	(463)	(1,243)
Level 3 [Member] | Fair Value Measurements Recurring [Member] | Other [Member]
Available-for-sale investments:
Derivative liabilities	$ (24)	$ (13)

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	$ (736)	$ (845)	$ (1,302)	$ (949)
Total gains/(losses) (realized and unrealized):
Included in earnings	227	58	727	123
Included in other comprehensive income	0	0	0	0
Settlements	34	24	100	63
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(475)	(763)	(475)	(763)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	228	82	701	187
Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	(48)	(37)	(46)	(44)
Total gains/(losses) (realized and unrealized):
Included in earnings	1	(2)	(4)	4
Included in other comprehensive income	0	0	0	0
Settlements	1		4	1
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(46)	(39)	(46)	(39)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	3	(2)		6
Cross-Currency Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	(666)	(801)	(1,243)	(903)
Total gains/(losses) (realized and unrealized):
Included in earnings	231	64	750	129
Included in other comprehensive income	0	0	0	0
Settlements	30	23	88	60
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(405)	(714)	(405)	(714)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	227	87	712	189
Other [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	(22)	(7)	(13)	(2)
Total gains/(losses) (realized and unrealized):
Included in earnings	(5)	(4)	(19)	(10)
Included in other comprehensive income	0	0	0	0
Settlements	3	1	8	2
Transfers in and/or out of level 3	0	0	0	0
Balance, end of period	(24)	(10)	(24)	(10)
Change in unrealized gains/(losses) relating to instruments still held at the reporting date	$ (2)	$ (3)	$ (11)	$ (8)

Fair Value Measurements - Inclu

Fair Value Measurements - Included in Earnings (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gains (losses) on derivative and hedging activities, net	$ 227	$ 58	$ 727	$ 123
Gain (Losses) 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	257	81	815	183
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	$ (30)	$ (23)	$ (88)	$ (60)

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, 2017	Dec. 31, 2016
Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	$ 256	$ 357
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	(449)	(1,296)
Other [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	(24)	$ (13)
Level 3 [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	(475)
Level 3 [Member] | 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	$ (405)
Discounted cash flow	Discounted Cash Flow, Constant Prepayment Rate
Constant prepayment rate	4.10%
Level 3 [Member] | Other [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	$ (24)
Level 3 [Member] | Prime/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative financial instruments, Fair Value	$ (46)
Discounted cash flow	Discounted Cash Flow, Constant Prepayment Rate
Constant prepayment rate	5.60%
Level 3 [Member] | Prime/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Minimum [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Bid/ask adjustment to discount rate	0.08%
Level 3 [Member] | Prime/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Maximum [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Bid/ask adjustment to discount rate	0.08%
Level 3 [Member] | Prime/LIBOR Basis Swaps [Member] | Interest Rate Swaps [Member] | Weighted Average [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Bid/ask adjustment to discount rate	0.08%

Fair Value Measurements - Fair

Fair Value Measurements - Fair Values of Financial Assets and Liabilities, Including Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total earning assets, Carrying Value	$ 112,270	$ 116,273
Short-term borrowings, Carrying Value	3,281	2,334
Long-term borrowings, Carrying Value	108,557	112,368
Total interest-bearing liabilities, Carrying Value	111,838	114,702
Total earning assets, Fair Value	112,566	115,020
Short-term borrowings, Fair Value	3,289	2,346
Long-term borrowings, Fair Value	107,991	109,826
Total interest-bearing liabilities, Fair Value	111,280	112,172
FFELP Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, Carrying Value	83,916	87,730
Loans receivable, Fair Value	84,016	86,626
Floor Income Contracts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(126)	(184)
Derivative financial instruments, Fair Value	(126)	(184)
Interest Rate Swaps [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	256	357
Derivative financial instruments, Fair Value	256	357
Cross-Currency Interest Rate Swaps [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(449)	(1,296)
Derivative financial instruments, Fair Value	(449)	(1,296)
Other [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative financial instruments, Carrying Value	(24)	(13)
Derivative financial instruments, Fair Value	(24)	(13)
Private Education Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, Carrying Value	23,424	23,340
Loans receivable, Fair Value	23,620	23,191
Difference [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total earning assets, Fair Value	296	(1,253)
Short-term borrowings, Fair Value	(8)	(12)
Long-term borrowings, Fair Value	566	2,542
Total interest-bearing liabilities, Fair Value	558	2,530
Excess of net asset fair value over carrying value	854	1,277
Difference [Member] | FFELP Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, Fair Value	100	(1,104)
Difference [Member] | Private Education Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, Fair Value	196	(149)
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and investments	4,930	5,203
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and investments	$ 4,930	$ 5,203

Fair Value Measurements - Fai61

Fair Value Measurements - Fair Values of Financial Assets and Liabilities, Including Derivative Financial Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Available-for-sale investments, cost basis	$ 3	$ 3
Available-for-sale investments, fair value	$ 3	$ 3

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2014	Dec. 31, 2013
Loss Contingencies [Line Items]
Lawsuit Filing Date	May 4, 2015
Lawsuit settlement date	July 2,017
Total reserves established during year		$ 177,000,000	$ 177,000,000
SLM BankCo [Member] | Indemnification Matters [Member]
Loss Contingencies [Line Items]
Reserve for estimated amounts and costs incurred	$ 0

Segment Reporting - Asset Infor

Segment Reporting - Asset Information for Loans Segment (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Other	$ 4,088	$ 4,193
Total assets	117,085	121,136
Private Education Loans Segment [Member]
Segment Reporting Information [Line Items]
Loans, net	23,424	23,340
Cash and investments	723	667
Other	1,126	1,567
Total assets	25,273	25,574
FFELP Loans Segment [Member]
Segment Reporting Information [Line Items]
Loans, net	83,916	87,730
Cash and investments	2,893	3,212
Other	2,315	1,907
Total assets	$ 89,124	$ 92,849

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total assets	$ 117,085	$ 121,136
Business Services Segment [Member]
Segment Reporting Information [Line Items]
Total assets	708	587
Other Segment [Member]
Segment Reporting Information [Line Items]
Total assets	$ 2,000	$ 2,100

Segment Reporting - Segment Res

Segment Reporting - Segment Results and Reconciliations to GAAP (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest income:
Cash and investments	$ 12	$ 5	$ 29	$ 17
Total interest income	1,140	1,039	3,224	3,118
Total interest expense	785	627	2,178	1,791
Net interest income (loss)	355	412	1,046	1,327
Less: provisions for loan losses	105	106	317	327
Net interest income (loss) after provisions for loan losses	250	306	729	1,000
Other income (loss):
Servicing revenue	75	76	221	230
Asset recovery and business processing revenue	157	97	367	288
Other income (loss)	29	137	(13)	75
Gains on sales of loans and investments	3		3
Gains (losses) on debt repurchases	(1)	1	(1)	1
Total other income	263	311	577	594
Expenses:
Direct operating expenses	183	177	534	538
Overhead expenses	55	51	173	168
Total operating expenses	238	228	707	706
Goodwill and acquired intangible asset impairment and amortization	6	12	17	22
Total expenses	244	240	724	728
Income (loss) before income tax expense (benefit)	269	377	582	866
Income tax expense (benefit)	93	147	206	331
Net income (loss)	176	230	376	535
Education Loan Portfolio [Member]
Interest income:
Total interest income	1,126	1,032	3,183	3,096
Other Loans [Member]
Interest income:
Total interest income	2	2	12	5
Operating Segments [Member]
Interest income:
Cash and investments	12	5	29	17
Total interest income	1,137	1,025	3,211	2,995
Total interest expense	792	620	2,189	1,766
Net interest income (loss)	345	405	1,022	1,229
Less: provisions for loan losses	105	106	317	327
Net interest income (loss) after provisions for loan losses	240	299	705	902
Other income (loss):
Servicing revenue	75	76	221	230
Asset recovery and business processing revenue	157	97	367	288
Other income (loss)	3	5	13	12
Gains on sales of loans and investments	3		3
Gains (losses) on debt repurchases	(1)	1	(1)	1
Total other income	237	179	603	531
Expenses:
Direct operating expenses	183	177	534	538
Overhead expenses	55	51	173	168
Total operating expenses	238	228	707	706
Total expenses	238	228	707	706
Income (loss) before income tax expense (benefit)	239	250	601	727
Income tax expense (benefit)	87	93	219	269
Net income (loss)	152	157	382	458
Operating Segments [Member] | Education Loan Portfolio [Member]
Interest income:
Total interest income	1,123	1,018	3,170	2,973
Operating Segments [Member] | Other Loans [Member]
Interest income:
Total interest income	2	2	12	5
Operating Segments [Member] | FFELP Loans Segment [Member]
Interest income:
Cash and investments	9	4	20	12
Total interest income	687	621	1,986	1,772
Total interest expense	530	413	1,481	1,159
Net interest income (loss)	157	208	505	613
Less: provisions for loan losses	10	13	30	30
Net interest income (loss) after provisions for loan losses	147	195	475	583
Other income (loss):
Servicing revenue	14	13	40	45
Total other income	14	13	40	45
Expenses:
Direct operating expenses	88	99	272	305
Total operating expenses	88	99	272	305
Total expenses	88	99	272	305
Income (loss) before income tax expense (benefit)	73	109	243	323
Income tax expense (benefit)	27	40	88	120
Net income (loss)	46	69	155	203
Operating Segments [Member] | FFELP Loans Segment [Member] | Education Loan Portfolio [Member]
Interest income:
Total interest income	678	617	1,966	1,760
Operating Segments [Member] | Private Education Loans Segment [Member]
Interest income:
Cash and investments	1		3	2
Total interest income	446	401	1,207	1,215
Total interest expense	221	178	601	522
Net interest income (loss)	225	223	606	693
Less: provisions for loan losses	95	92	285	296
Net interest income (loss) after provisions for loan losses	130	131	321	397
Other income (loss):
Servicing revenue	3	4	7	11
Total other income	3	4	7	11
Expenses:
Direct operating expenses	39	40	117	124
Total operating expenses	39	40	117	124
Total expenses	39	40	117	124
Income (loss) before income tax expense (benefit)	94	95	211	284
Income tax expense (benefit)	34	35	77	105
Net income (loss)	60	60	134	179
Operating Segments [Member] | Private Education Loans Segment [Member] | Education Loan Portfolio [Member]
Interest income:
Total interest income	445	401	1,204	1,213
Operating Segments [Member] | Business Services Segment [Member]
Other income (loss):
Servicing revenue	144	155	438	470
Asset recovery and business processing revenue	157	97	367	288
Other income (loss)			2	2
Total other income	301	252	807	760
Expenses:
Direct operating expenses	135	124	391	383
Total operating expenses	135	124	391	383
Total expenses	135	124	391	383
Income (loss) before income tax expense (benefit)	166	128	416	377
Income tax expense (benefit)	61	47	152	140
Net income (loss)	105	81	264	237
Operating Segments [Member] | Other Segment [Member]
Interest income:
Cash and investments	2	1	6	3
Total interest income	4	3	18	8
Total interest expense	41	29	107	85
Net interest income (loss)	(37)	(26)	(89)	(77)
Less: provisions for loan losses		1	2	1
Net interest income (loss) after provisions for loan losses	(37)	(27)	(91)	(78)
Other income (loss):
Other income (loss)	3	5	11	10
Gains on sales of loans and investments	3		3
Gains (losses) on debt repurchases	(1)	1	(1)	1
Total other income	5	6	13	11
Expenses:
Direct operating expenses	7	10	18	22
Overhead expenses	55	51	173	168
Total operating expenses	62	61	191	190
Total expenses	62	61	191	190
Income (loss) before income tax expense (benefit)	(94)	(82)	(269)	(257)
Income tax expense (benefit)	(35)	(29)	(98)	(96)
Net income (loss)	(59)	(53)	(171)	(161)
Operating Segments [Member] | Other Segment [Member] | Other Loans [Member]
Interest income:
Total interest income	2	2	12	5
Eliminations [Member]
Other income (loss):
Servicing revenue	(86)	(96)	(264)	(296)
Total other income	(86)	(96)	(264)	(296)
Expenses:
Direct operating expenses	(86)	(96)	(264)	(296)
Total operating expenses	(86)	(96)	(264)	(296)
Total expenses	(86)	(96)	(264)	(296)
Adjustments [Member] | Reclassifications [Member]
Interest income:
Total interest income	16	28	54	222
Total interest expense	(5)	7	(3)	25
Net interest income (loss)	21	21	57	197
Net interest income (loss) after provisions for loan losses	21	21	57	197
Other income (loss):
Other income (loss)	(21)	(21)	(57)	(197)
Total other income	(21)	(21)	(57)	(197)
Adjustments [Member] | Reclassifications [Member] | Education Loan Portfolio [Member]
Interest income:
Total interest income	16	28	54	222
Adjustments [Member] | Additions (Subtractions) [Member]
Interest income:
Total interest income	(13)	(14)	(41)	(99)
Total interest expense	(2)		(8)
Net interest income (loss)	(11)	(14)	(33)	(99)
Net interest income (loss) after provisions for loan losses	(11)	(14)	(33)	(99)
Other income (loss):
Other income (loss)	47	153	31	260
Total other income	47	153	31	260
Expenses:
Goodwill and acquired intangible asset impairment and amortization	6	12	17	22
Total expenses	6	12	17	22
Income (loss) before income tax expense (benefit)	30	127	(19)	139
Income tax expense (benefit)	6	54	(13)	62
Net income (loss)	24	73	(6)	77
Adjustments [Member] | Additions (Subtractions) [Member] | Education Loan Portfolio [Member]
Interest income:
Total interest income	(13)	(14)	(41)	(99)
Adjustments [Member] | Total Adjustments [Member]
Interest income:
Total interest income	3	14	13	123
Total interest expense	(7)	7	(11)	25
Net interest income (loss)	10	7	24	98
Net interest income (loss) after provisions for loan losses	10	7	24	98
Other income (loss):
Other income (loss)	26	132	(26)	63
Total other income	26	132	(26)	63
Expenses:
Goodwill and acquired intangible asset impairment and amortization	6	12	17	22
Total expenses	6	12	17	22
Income (loss) before income tax expense (benefit)	30	127	(19)	139
Income tax expense (benefit)	6	54	(13)	62
Net income (loss)	24	73	(6)	77
Adjustments [Member] | Total Adjustments [Member] | Education Loan Portfolio [Member]
Interest income:
Total interest income	$ 3	$ 14	$ 13	$ 123

Segment Reporting - Segment R66

Segment Reporting - Segment Result and Reconciliations to GAAP - Core Earnings Adjustments (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income (loss) after provisions for loan losses	$ 250	$ 306	$ 729	$ 1,000
Total other income (loss)	263	311	577	594
Goodwill and acquired intangible asset impairment and amortization	6	12	17	22
Income tax expense (benefit)	93	147	206	331
Net income (loss)	176	230	376	535
Total Adjustments [Member] | Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income (loss) after provisions for loan losses	10	7	24	98
Total other income (loss)	26	132	(26)	63
Goodwill and acquired intangible asset impairment and amortization	6	12	17	22
Total "Core Earnings" adjustments to GAAP	30	127	(19)	139
Income tax expense (benefit)	6	54	(13)	62
Net income (loss)	24	73	(6)	77
Net Impact of Goodwill and Acquired Intangible Assets [Member] | Total Adjustments [Member] | Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Goodwill and acquired intangible asset impairment and amortization	6	12	17	22
Total "Core Earnings" adjustments to GAAP	(6)	(12)	(17)	(22)
Net Impact of Derivative Accounting [Member] | Total Adjustments [Member] | Adjustments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net interest income (loss) after provisions for loan losses	10	7	24	98
Total other income (loss)	26	132	(26)	63
Total "Core Earnings" adjustments to GAAP	$ 36	$ 139	$ (2)	$ 161

Segment Reporting - Core Earnin

Segment Reporting - Core Earnings Adjustments to GAAP (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
"Core Earnings" adjustments to GAAP:
Net tax effect	$ (93)	$ (147)	$ (206)	$ (331)
Net income attributable to Navient Corporation	176	230	376	535
Adjustments [Member] | Total Adjustments [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	30	127	(19)	139
Net tax effect	(6)	(54)	13	(62)
Net income attributable to Navient Corporation	24	73	(6)	77
Adjustments [Member] | Total Adjustments [Member] | Net Impact of Goodwill and Acquired Intangible Assets [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	(6)	(12)	(17)	(22)
Adjustments [Member] | Total Adjustments [Member] | Net Impact of Derivative Accounting [Member]
"Core Earnings" adjustments to GAAP:
Core Earnings adjustments to GAAP	$ 36	$ 139	$ (2)	$ 161

Segment Reporting - Core Earn68

Segment Reporting - Core Earnings Adjustments to GAAP (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2017USD ($)
Segment Reporting [Abstract]
Amount that will be equal to cumulative net unrealized gain or loss over the life of the contract	$ 0