Loans Held for Investment (Tables)

6 Months Ended

Jun. 30, 2017

Receivables [Abstract]

Loans held for investment

Loans held for investment are summarized as follows:

	June 30,			December 31,
	2017			2016
Private Education Loans	$	15,679,457		$	14,251,675
Deferred origination costs	48,905			44,206
Allowance for loan losses	(205,024		)	(182,472		)
Total Private Education Loans, net	15,523,338			14,113,409
FFELP Loans	967,237			1,010,908
Unamortized acquisition costs, net	2,767			2,941
Allowance for loan losses	(1,606		)	(2,171		)
Total FFELP Loans, net	968,398			1,011,678
Personal Loans	69,508			12,893
Allowance for loan losses	(818		)	(58		)
Total Personal Loans, net	68,690			12,835
Loans held for investment, net	$	16,560,426		$	15,137,922

The average balance and the respective weighted average interest rates of loans in our portfolio are summarized as follows:

	Three Months Ended
	June 30,
	2017				2016
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	15,687,803	8.33	%	$	12,217,890	7.98	%
FFELP Loans	980,478		3.87		1,076,419		3.48
Personal Loans	60,910		9.28		—		—
Total portfolio	$	16,729,191			$	13,294,309

	Six Months Ended
	June 30,
	2017				2016
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	15,569,337	8.30	%	$	12,017,799	8.00	%
FFELP Loans	991,740		3.78		1,089,836		3.45
Personal Loans	48,894		9.19		—		—
Total portfolio	$	16,609,971			$	13,107,635