Loans Held for Investment (Tables)

9 Months Ended

Sep. 30, 2018

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

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

	Three Months Ended
	September 30,
	2018				2017
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	19,295,318	9.16	%	$	16,228,751	8.50	%
FFELP Loans	877,279		4.65		960,185		4.02
Personal Loans	1,082,177		11.03		86,441		9.66
Total portfolio	$	21,254,774			$	17,275,377

	Nine Months Ended
	September 30,
	2018				2017
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	18,908,929	9.01	%	$	15,791,557	8.37	%
FFELP Loans	898,208		4.47		981,106		3.86
Personal Loans	810,753		10.82		61,263		9.44
Total portfolio	$	20,617,890			$	16,833,926

Loans held for investment are summarized as follows:

	September 30,			December 31,
	2018			2017
Private Education Loans:
Fixed rate	$	6,369,950		$	4,000,447
Variable rate	13,870,041			13,431,720
Total Private Education Loans, gross	20,239,991			17,432,167
Deferred origination costs and unamortized premium/(discount)	65,499			56,378
Allowance for loan losses	(274,684		)	(243,715		)
Total Private Education Loans, net	20,030,806			17,244,830
FFELP Loans	866,786			927,660
Deferred origination costs and unamortized premium/(discount)	2,432			2,631
Allowance for loan losses	(1,080		)	(1,132		)
Total FFELP Loans, net	868,138			929,159
Personal Loans (fixed rate)	1,133,005			400,280
Deferred origination costs and unamortized premium/(discount)	164			—
Allowance for loan losses	(53,210		)	(6,628		)
Total Personal Loans, net	1,079,959			393,652
Loans held for investment, net	$	21,978,903		$	18,567,641

The following table provides the average recorded investment and interest income recognized for our TDR loans.

	Three Months Ended   September 30,
	2018				2017
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
TDR Loans	$	1,180,206	$	19,943	$	877,011	$	16,517

	Nine Months Ended   September 30,
	2018				2017
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
TDR Loans	$	1,106,946	$	56,509	$	772,362	$	43,084