Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Schedule of Cumulative Effect of Adoption of CECL

The following table illustrates the impact of the cumulative effect adjustment made upon adoption of CECL on January 1, 2020:

	January 1, 2020
	As reported under CECL		Pre-CECL Adoption		Impact of CECL Adoption
Assets:
Allowance for credit losses:
Private Education Loans	$	1,435,130	$	374,300	$	1,060,830
FFELP Loans	4,485		1,633		2,852
Personal Loans	145,060		65,877		79,183
Credit Cards	290		102		188
Total	$	1,584,965	$	441,912	$	1,143,053
Deferred tax asset	$	415,540	$	109,369	$	306,171
Liabilities:
Allowance for credit losses:
Off-balance sheet exposures	$	118,239	$	2,481	$	115,758
Equity:
Retained Earnings	$	897,873	$	1,850,512	$	(952,639)