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Loans Held for Investment (Tables)
 3 Months Ended
Mar. 31, 2017
Receivables [Abstract]  
Loans held for investment
The average balance and the respective weighted average interest rates of loans in our portfolio are summarized as follows:


 
 
Three Months Ended
 
 
 
March 31,
 
 
 
2017
 
2016
 
 
 
Average Balance
 
Weighted Average Interest Rate
 
Average Balance
 
Weighted Average Interest Rate
 
Private Education Loans
 
$
15,449,555

 
8.26
%
 
$
11,817,708

 
8.03
%
 
FFELP Loans
 
1,003,128

 
3.69

 
1,103,253

 
3.42

 
Personal Loans
 
35,830

 
9.16

 
—

 
—

 
Total portfolio
 
$
16,488,513

 
 
 
$
12,920,961

 
 
 
Loans held for investment are summarized as follows:
 
 
March 31,
 
December 31,
 
 
2017
 
2016
Private Education Loans
 
$
15,654,854

 
$
14,251,675

Deferred origination costs
 
46,692

 
44,206

Allowance for loan losses
 
(185,103
)
 
(182,472
)
Total Private Education Loans, net
 
15,516,443

 
14,113,409

 
 
 
 
 
FFELP Loans
 
989,393

 
1,010,908

Unamortized acquisition costs, net
 
2,855

 
2,941

Allowance for loan losses
 
(1,637
)
 
(2,171
)
Total FFELP Loans, net
 
990,611

 
1,011,678

 
 
 
 
 
Personal Loans
 
55,502

 
12,893

Allowance for loan losses
 
(346
)
 
(58
)
Total Personal Loans, net
 
55,156

 
12,835

 
 
 
 
 
Loans held for investment, net
 
$
16,562,210

 
$
15,137,922