XML 69 R57.htm IDEA: XBRL DOCUMENT v3.21.2
Borrowings - Additional Information (Details) - USD ($)
1 Months Ended 6 Months Ended 12 Months Ended
May 27, 2021
May 19, 2021
Feb. 17, 2021
Feb. 09, 2021
Mar. 31, 2020
Jun. 30, 2021
Dec. 31, 2020
May 31, 2021
Line of Credit Facility [Line Items]                
Short-term borrowings           $ 199,379,000 $ 0  
Estimated weighted average life of student loans           4 years 6 months 5 years 4 months 24 days  
Vertical risk retention interest         5.00% 5.00%    
Unsecured offering issued           $ 531,000,000 $ 1,343,000,000  
Uncommitted federal funds           125,000,000    
Lendable value of collateral           2,800,000,000 3,800,000,000  
Unsecured borrowings                
Line of Credit Facility [Line Items]                
Short-term borrowings           199,379,000 0  
SMB Private Education Loan Trust 2021-B                
Line of Credit Facility [Line Items]                
Principal Amount Outstanding on Loans Held-for-sale or Securitization or Asset-backed Financing Arrangement   $ 531,000,000            
Loans sold to third parties   $ 531,000,000            
Ownership interest percentage   100.00%            
Proceeds from Issuance of Unsecured Debt   $ 529,000,000            
Estimated weighted average life of student loans   4 years 3 months 3 days            
Loans pledged as collateral           541,000,000    
Principal amount of collateral           504,000,000    
Capitalized interest           37,000,000    
Unsecured offering issued               $ 531,000,000
SMB Private Education Loan Trust 2021-B | London Interbank Offered Rate (LIBOR)                
Line of Credit Facility [Line Items]                
Basis spread on variable rate   0.77%            
2021-A                
Line of Credit Facility [Line Items]                
Vertical risk retention interest       5.00%        
2021-A | Student Loan                
Line of Credit Facility [Line Items]                
Private education loans sold       $ 2,500,000,000        
Additional net proceeds from sales of loans held for investment, capitalized interest       130,000,000        
Gain on sale       $ 18,000,000        
2021-C                
Line of Credit Facility [Line Items]                
Vertical risk retention interest 5.00%              
2021-C | Student Loan                
Line of Credit Facility [Line Items]                
Private education loans sold $ 505,000,000              
Additional net proceeds from sales of loans held for investment, capitalized interest 27,000,000              
Gain on sale $ 4,000,000              
Commercial Paper | ABCP borrowings                
Line of Credit Facility [Line Items]                
Private asset backed commercial paper education loan funding facility     $ 2,000,000,000          
Ownership interest percentage in residual interest in ABCP facility     100.00%          
Short-term borrowings           $ 0 $ 0