Education Loans (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Education Loan Portfolio by Program

The estimated weighted average life of education loans in our portfolio was approximately 5 years and 6 years at December 31, 2023 and 2022, respectively. The following table reflects the distribution of our education loan portfolio by program.

	December 31, 2023					Year Ended December 31, 2023
(Dollars in millions)	Ending Balance		% of Balance			Average Balance		Average Effective Interest Rate
FFELP Stafford Loans, net	$	13,564		25	%	$	14,949		7.44	%
FFELP Consolidation Loans, net		24,361		44			26,242		6.80
Private Education Loans, net		16,902		31			18,463		7.42
Total education loans, net	$	54,827		100	%	$	59,654		7.15	%

	December 31, 2022					Year Ended December 31, 2022
(Dollars in millions)	Ending Balance		% of Balance			Average Balance		Average Effective Interest Rate
FFELP Stafford Loans, net	$	15,691		25	%	$	17,475		3.93	%
FFELP Consolidation Loans, net		27,834		45			31,708		4.04
Private Education Loans, net		18,725		30			20,524		5.82
Total education loans, net	$	62,250		100	%	$	69,707		4.53	%