Loans Held for Investment (Tables)

9 Months Ended

Sep. 30, 2017

Receivables [Abstract]

Loans held for investment

Loans held for investment are summarized as follows:

	September 30,			December 31,
	2017			2016
Private Education Loans	$	17,132,907		$	14,251,675
Deferred origination costs	53,501			44,206
Allowance for loan losses	(227,167		)	(182,472		)
Total Private Education Loans, net	16,959,241			14,113,409
FFELP Loans	949,180			1,010,908
Unamortized acquisition costs, net	2,696			2,941
Allowance for loan losses	(1,352		)	(2,171		)
Total FFELP Loans, net	950,524			1,011,678
Personal Loans	132,100			12,893
Allowance for loan losses	(1,400		)	(58		)
Total Personal Loans, net	130,700			12,835
Loans held for investment, net	$	18,040,465		$	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
	September 30,
	2017				2016
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	16,228,751	8.50	%	$	12,881,890	8.00	%
FFELP Loans	960,185		4.02		1,049,803		3.52
Personal Loans	86,441		9.66		—		—
Total portfolio	$	17,275,377			$	13,931,693

	Nine Months Ended
	September 30,
	2017				2016
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	15,791,557	8.37	%	$	12,307,932	8.00	%
FFELP Loans	981,106		3.86		1,076,394		3.48
Personal Loans	61,263		9.44		—		—
Total portfolio	$	16,833,926			$	13,384,326