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Unfunded Loan Commitments (Tables)
 6 Months Ended
Jun. 30, 2020
Credit Loss [Abstract]  
Allowance for credit losses and recorded investments in loans
Allowance for Loan Losses
Six Months Ended June 30, 2020
FFELP
Loans		Private Education
Loans		Personal
Loans		Credit CardsTotal
Allowance for Loan Losses
Beginning balance$1,633  $374,300  $65,877  $102  $441,912  
Day 1 adjustment for the adoption of CECL2,852  1,060,830  79,183  188  1,143,053  
Transfer from unfunded commitment liability(1)
—  179,085  —  —  179,085  
Provisions:
Provision for current period210  377,877  49,247  800  428,134  
Loan sale reduction to provision—  (161,793) —  —  (161,793) 
Total provision(2)
210  216,084  49,247  800  266,341  
Net charge-offs:
Charge-offs(310) (83,248) (33,848) (48) (117,454) 
Recoveries—  13,508  2,878  —  16,386  
Net charge-offs(310) (69,740) (30,970) (48) (101,068) 
Ending Balance$4,385  $1,760,559  $163,337  $1,042  $1,929,323  
Allowance:
Ending balance: individually evaluated for impairment$—  $160,234  $—  $—  $160,234  
Ending balance: collectively evaluated for impairment$4,385  $1,600,325  $163,337  $1,042  $1,769,089  
Loans:
Ending balance: individually evaluated for impairment$—  $1,520,240  $—  $—  $1,520,240  
Ending balance: collectively evaluated for impairment$754,340  $19,965,225  $772,086  $10,706  $21,502,357  
Net charge-offs as a percentage of average loans in repayment (annualized)(3)
0.11 %0.91 %7.13 %1.31 %
Allowance as a percentage of the ending total loan balance0.58 %8.19 %21.16 %9.73 %
Allowance as a percentage of the ending loans in repayment(3)
0.97 %12.13 %22.46 %9.73 %
Allowance coverage of net charge-offs (annualized)7.07  12.62  2.64  10.85  
Ending total loans, gross$754,340  $21,485,465  $772,086  $10,706  
Average loans in repayment(3)
$553,402  $15,306,349  $869,133  $7,326  
Ending loans in repayment(3)
$452,617  $14,512,723  $727,214  $10,706  
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(1) See Note 5, “Unfunded Loan Commitments,” for a summary of the activity in the allowance for and balance of unfunded loan commitments, respectively.
(2) Below is a reconciliation of the provision for credit losses reported in the consolidated statements of operations. When a new loan commitment is made, we record the CECL allowance as a liability for unfunded commitments by recording a provision for credit losses. When the loan is funded, we transfer that liability to the allowance for loan losses.

Consolidated Statements of Operations
Provisions for Credit Losses Reconciliation
Six Months Ended
June 30, 2020
Provisions for credit losses for new loan commitments made during the period$146,804  
Total provision for allowance for loan losses266,341  
Provisions for credit losses reported in consolidated statements of operations$413,145  

(3) Loans in repayment include loans on which borrowers are making interest only or fixed payments, as well as loans that have entered full principal and interest repayment status after any applicable grace period.
The tables below summarize the activity in the allowance recorded to cover lifetime expected credit losses on the unfunded commitments, which is recorded in “Other Liabilities” on the consolidated balance sheets, as well as the activity in the unfunded commitments balance.
Three Months Ended
June 30, 2020		Three Months Ended
June 30, 2019
AllowanceUnfunded CommitmentsAllowanceUnfunded Commitments
Beginning Balance$29,707  $449,807  $295  $518,248  
Provision/New commitments98,741  1,165,224  768  1,348,938  
Transfer - funded loans(1)
(42,490) (495,989) (308) (531,431) 
Ending Balance$85,958  $1,119,042  $755  $1,335,755  
Six Months Ended
June 30, 2020		Six Months Ended
June 30, 2019
AllowanceUnfunded CommitmentsAllowanceUnfunded Commitments
Beginning Balance$2,481  $1,910,603  $2,165  $2,010,744  
Day 1 adjustment for the adoption of CECL115,758  —  —  —  
Provision/New commitments146,804  2,000,170  2,134  1,982,240  
Transfer - funded loans(1)
(179,085) (2,791,731) (3,544) (2,657,229) 
Ending Balance$85,958  $1,119,042  $755  $1,335,755  
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(1)  When a loan commitment is funded, its related allowance for credit losses is transferred to the allowance for loan losses