Defined Contribution Plans

12 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

Defined Contribution Plans

Defined Contribution Plans

We participate in a defined contribution plan which is intended to qualify under section 401(k) of the Internal Revenue Code. The Sallie Mae 401(k) Savings Plan covers substantially all employees. After six months of service, we match 100 percent of the first three percent of contributions and match 50 percent of the next two percent of contributions for eligible employees. After one month of service, eligible employees receive a one percent core employer contribution.  For the years ended December 31, 2017, 2016 and 2015, we contributed $5.0 million, $4.4 million and $3.8 million, respectively, to this plan.