Loans Held for Investment (Tables)

6 Months Ended

Jun. 30, 2019

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Loans held for investment are summarized as follows:

	June 30,			December 31,
	2019			2018
Private Education Loans:
Fixed-rate	$	8,231,177		$	6,759,019
Variable-rate	13,397,670			13,745,446
Total Private Education Loans, gross	21,628,847			20,504,465
Deferred origination costs and unamortized premium/(discount)	73,902			68,321
Allowance for loan losses	(307,968		)	(277,943		)
Total Private Education Loans, net	21,394,781			20,294,843
FFELP Loans	812,500			846,487
Deferred origination costs and unamortized premium/(discount)	2,262			2,379
Allowance for loan losses	(1,734		)	(977		)
Total FFELP Loans, net	813,028			847,889
Personal Loans (fixed-rate)	1,134,637			1,190,091
Deferred origination costs and unamortized premium/(discount)	495			297
Allowance for loan losses	(74,295		)	(62,201		)
Total Personal Loans, net	1,060,837			1,128,187
Loans held for investment, net	$	23,268,646		$	22,270,919

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

	Three Months Ended
	June 30,
	2019				2018
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	21,748,247	9.39	%	$	18,764,768	9.03	%
FFELP Loans	821,138		5.01		898,095		4.51
Personal Loans	1,149,247		12.00		815,356		10.65
Total portfolio	$	23,718,632			$	20,478,219

	Six Months Ended
	June 30,
	2019				2018
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	21,740,579	9.44	%	$	18,712,533	8.93	%
FFELP Loans	829,497		4.98		908,846		4.38
Personal Loans	1,162,782		11.90		672,792		10.65
Total portfolio	$	23,732,858			$	20,294,171

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

	Three Months Ended   June 30,
	2019				2018
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
TDR Loans	$	1,395,756	$	22,954	$	1,105,042	$	18,718

	Six Months Ended   June 30,
	2019				2018
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
TDR Loans	$	1,354,467	$	44,520	$	1,069,721	$	36,565