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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Assets    
Loans, net $ 72,812 $ 79,363
Investments    
Held-to-maturity 74 15
Other 193 270
Total investments 267 285
Cash and cash equivalents 905 1,183
Restricted cash and cash equivalents 2,673 2,354
Goodwill and acquired intangible assets, net 725 735
Other assets 3,223 3,492
Total assets 80,605 87,412
Liabilities    
Short-term borrowings 2,490 6,613
Long-term borrowings 74,488 77,332
Other liabilities 1,019 1,020
Total liabilities 77,997 84,965
Commitments and contingencies
Equity    
Common stock, par value $0.01 per share; 1.125 billion shares authorized: 459 million and 454 million shares issued, respectively 4 4
Additional paid-in capital 3,282 3,226
Accumulated other comprehensive loss (net of tax benefit of $45 and $90, respectively) (133) (274)
Retained earnings 3,939 3,331
Total Navient Corporation stockholders’ equity before treasury stock 7,092 6,287
Less: Common stock held in treasury at cost: 305 million and 267 million shares, respectively (4,495) (3,854)
Total Navient Corporation stockholders’ equity 2,597 2,433
Noncontrolling interest 11 14
Total equity 2,608 2,447
Total liabilities and equity 80,605 87,412
Assets and Liabilities of Consolidated Variable Interest Entities [Member]    
Assets    
Loans, net 70,649 76,726
Investments    
Total assets 74,820 80,468
Investments    
Restricted cash 2,649 2,322
Other assets, net 1,522 1,420
Liabilities    
Short-term borrowings 2,188 5,595
Long-term borrowings 67,107 68,900
Equity    
Net assets of consolidated variable interest entities 5,525 5,973
Series A Junior Participating Preferred Stock [Member]    
Equity    
Series A Junior Participating Preferred Stock, par value $0.20 per share; 2 million shares authorized at December 31, 2021; no shares issued or outstanding
FFELP Loans [Member]    
Assets    
Loans, net 52,641 58,284
FFELP Loans [Member] | Assets and Liabilities of Consolidated Variable Interest Entities [Member]    
Assets    
Loans, net 52,502 58,068
Private Education Loans [Member]    
Assets    
Loans, net 20,171 21,079
Private Education Loans [Member] | Assets and Liabilities of Consolidated Variable Interest Entities [Member]    
Assets    
Loans, net $ 18,147 $ 18,658