Loans Held for Investment (Tables)

9 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Schedule of Loans Held for Investment

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

	Three Months Ended
	September 30,
	2019				2018
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	22,202,420	9.30	%	$	19,295,318	9.16	%
FFELP Loans	806,865		4.54		877,279		4.65
Personal Loans	1,132,185		12.16		1,082,177		11.03
Total portfolio	$	24,141,470			$	21,254,774

	Nine Months Ended
	September 30,
	2019				2018
	Average Balance		Weighted Average Interest Rate		Average Balance		Weighted Average Interest Rate
Private Education Loans	$	21,896,218	9.40	%	$	18,908,929	9.01	%
FFELP Loans	821,870		4.83		898,208		4.47
Personal Loans	1,152,471		11.99		810,753		10.82
Total portfolio	$	23,870,559			$	20,617,890

Loans held for investment are summarized as follows:

	September 30,			December 31,
	2019			2018
Private Education Loans:
Fixed-rate	$	9,551,114		$	6,759,019
Variable-rate	13,569,055			13,745,446
Total Private Education Loans, gross	23,120,169			20,504,465
Deferred origination costs and unamortized premium/(discount)	78,103			68,321
Allowance for loan losses	(342,544		)	(277,943		)
Total Private Education Loans, net	22,855,728			20,294,843
FFELP Loans	798,168			846,487
Deferred origination costs and unamortized premium/(discount)	2,203			2,379
Allowance for loan losses	(1,689		)	(977		)
Total FFELP Loans, net	798,682			847,889
Personal Loans (fixed-rate)	1,131,833			1,190,091
Deferred origination costs and unamortized premium/(discount)	594			297
Allowance for loan losses	(70,173		)	(62,201		)
Total Personal Loans, net	1,062,254			1,128,187
Loans held for investment, net	$	24,716,664		$	22,270,919

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

	Three Months Ended   September 30,
	2019				2018
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
TDR Loans	$	1,467,098	$	24,639	$	1,180,206	$	19,943

	Nine Months Ended   September 30,
	2019				2018
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
TDR Loans	$	1,391,167	$	69,159	$	1,106,946	$	56,509