Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2019	Jul. 31, 2019
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-31924
Entity Registrant Name	NELNET, INC
Entity Central Index Key	0001258602
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Incorporation, State or Country Code	NE
Entity Tax Identification Number	84-0748903
Entity Address, Address Line One	121 South 13th Street, Suite 100
Entity Address, City or Town	Lincoln,
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68508
City Area Code	402
Local Phone Number	458-2370
Title of 12(b) Security	Class A Common Stock, Par Value $0.01 per Share
Trading Symbol	NNI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		28,403,007
Common Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		11,279,641

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets:
Loans receivable (net of allowance for loan losses of $62,591 and $60,388, respectively)	$ 21,455,758	$ 22,377,142
Cash and cash equivalents:
Cash and cash equivalents - not held at a related party	14,065	9,472
Cash and cash equivalents - held at a related party	70,335	111,875
Total cash and cash equivalents	84,400	121,347
Investments and notes receivable	221,936	249,370
Restricted cash - due to customers	279,017	369,678
Accrued interest receivable	724,011	679,197
Accounts receivable (net of allowance for doubtful accounts of $4,054 and $3,271, respectively)	65,414	59,531
Goodwill	156,912	156,912
Intangible assets, net	97,477	114,290
Property and equipment, net	337,418	344,784
Other assets	106,647	45,533
Fair value of derivative instruments	230	1,818
Total assets	24,219,800	25,220,968
Liabilities:
Bonds and notes payable	21,294,192	22,218,740
Accrued interest payable	56,471	61,679
Other liabilities	263,502	256,092
Due to customers	279,017	369,678
Total liabilities	21,893,182	22,906,189
Commitments and contingencies
Nelnet, Inc. shareholders' equity:
Preferred stock, $0.01 par value. Authorized 50,000,000 shares; no shares issued or outstanding	0	0
Common stock:
Additional paid-in capital	1,670	622
Retained earnings	2,317,115	2,299,556
Accumulated other comprehensive earnings	3,144	3,883
Total Nelnet, Inc. shareholders' equity	2,322,326	2,304,464
Noncontrolling interests	4,292	10,315
Total equity	2,326,618	2,314,779
Total liabilities and equity	24,219,800	25,220,968
Common Class A
Common stock:
Common stock	284	288
Common Class B
Common stock:
Common stock	113	115
Variable Interest Entities
Assets:
Loans receivable (net of allowance for loan losses of $62,591 and $60,388, respectively)	21,498,948	22,359,655
Cash and cash equivalents:
Restricted cash	657,953	677,611
Other assets	724,227	679,735
Liabilities:
Bonds and notes payable	21,276,901	22,146,374
Other liabilities	202,371	163,327
Common stock:
Net assets of consolidated education and other lending variable interest entities	$ 1,401,856	$ 1,407,300

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Allowance for loan losses	$ 62,591	$ 60,388
Allowance for doubtful accounts	$ 4,054	$ 3,271
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares (in shares)	50,000,000	50,000,000
Preferred stock, issued shares (in shares)	0	0
Preferred stock, outstanding shares (in shares)	0	0
Common Class A
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	28,399,526	28,798,464
Common stock, shares outstanding (in shares)	28,399,526	28,798,464
Common Class B
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	60,000,000	60,000,000
Common stock, shares issued (in shares)	11,279,641	11,459,641
Common stock, shares outstanding (in shares)	11,279,641	11,459,641

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Interest income:
Loan interest	$ 238,222	$ 223,371	$ 480,555	$ 421,094
Investment interest	8,566	5,818	16,819	10,952
Total interest income	246,788	229,189	497,374	432,046
Interest expense:
Interest on bonds and notes payable	186,963	171,450	378,733	306,999
Net interest income	59,825	57,739	118,641	125,047
Less provision for loan losses	9,000	3,500	16,000	7,500
Net interest income after provision for loan losses	50,825	54,239	102,641	117,547
Other income:
Other income	16,152	9,580	25,219	28,135
Derivative market value adjustments and derivative settlements, net	(24,088)	17,031	(35,628)	83,829
Total other income	182,149	200,218	388,276	455,123
Cost of services:
Cost of services	20,972	15,182	46,790	32,583
Operating expenses:
Salaries and benefits	111,214	111,118	222,272	207,760
Depreciation and amortization	24,484	21,494	48,697	39,951
Loan servicing fees to third parties	3,156	3,204	6,049	6,341
Other expenses	42,261	40,409	83,184	73,826
Total operating expenses	181,115	176,225	360,202	327,878
Income before income taxes	30,887	63,050	83,925	212,209
Income tax expense	6,209	13,511	17,600	49,487
Net income	24,678	49,539	66,325	162,722
Net income attributable to noncontrolling interests	(59)	(104)	(115)	637
Net income attributable to Nelnet, Inc.	$ 24,619	$ 49,435	$ 66,210	$ 163,359
Earnings per common share:
Net income attributable to Nelnet, Inc. shareholders - basic and diluted (in dollars per share)	$ 0.61	$ 1.21	$ 1.65	$ 3.99
Weighted average common shares outstanding - basic and diluted (in shares)	40,050,065	40,886,617	40,210,787	40,918,396
Loan servicing and systems revenue
Other income:
Revenue	$ 113,985	$ 114,545	$ 228,883	$ 214,687
Education technology, services, and payment processing revenue
Other income:
Revenue	60,342	48,742	139,502	108,963
Cost of services:
Cost of services	15,871	11,317	36,930	25,000
Communications services
Other income:
Revenue	15,758	10,320	30,300	19,509
Cost of services:
Cost of services	$ 5,101	$ 3,865	$ 9,860	$ 7,583

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 24,678	$ 49,539	$ 66,325	$ 162,722
Available-for-sale securities:
Unrealized holding losses arising during period, net of gains	(537)	(413)	(972)	(1,474)
Reclassification adjustment for gains recognized in net income, net of losses	0	(5)	0	(52)
Income tax effect	129	100	233	356
Total other comprehensive loss	(408)	(318)	(739)	(1,170)
Comprehensive income	24,270	49,221	65,586	161,552
Comprehensive (income) loss attributable to noncontrolling interests	(59)	(104)	(115)	637
Comprehensive income attributable to Nelnet, Inc.	$ 24,211	$ 49,117	$ 65,471	$ 162,189

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preferred stock	Common stock Common Class A	Common stock Common Class B	Additional paid-in capital	Retained earnings	Accumulated other comprehensive (loss) earnings	Noncontrolling interests
Balance (in shares) at Dec. 31, 2017		0	29,341,517	11,468,587
Balance at Dec. 31, 2017	$ 2,165,387	$ 0	$ 293	$ 115	$ 521	$ 2,143,983	$ 4,617	$ 15,858
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	521							521
Net income (loss)	162,722					163,359		(637)
Other comprehensive income (loss)	(1,170)						(1,170)
Distribution to noncontrolling interests	(256)							(256)
Cash dividend on Class A and Class B common stock	(13,014)					(13,014)
Issuance of common stock, net of forfeitures (in shares)			305,279
Issuance of common stock, net of forfeitures	4,085		$ 3		4,082
Compensation expense for stock based awards	2,593				2,593
Repurchase of common stock (in shares)			(315,794)
Repurchase of common stock	(16,328)		$ (3)		(4,610)	(11,715)
Acquisition of noncontrolling interest	(19,101)					(13,449)		(5,652)
Balance at Jun. 30, 2018	2,286,703	$ 0	$ 293	$ 115	2,586	2,271,171	2,704	9,834
Balance (in shares) at Jun. 30, 2018		0	29,331,002	11,468,587
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	162,722					163,359		(637)
Balance (in shares) at Mar. 31, 2018		0	29,289,689	11,468,587
Balance at Mar. 31, 2018	2,245,226	$ 0	$ 293	$ 115	448	2,231,875	3,022	9,473
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	495							495
Net income (loss)	49,539					49,435		104
Other comprehensive income (loss)	(318)						(318)
Distribution to noncontrolling interests	(238)							(238)
Cash dividend on Class A and Class B common stock	(6,508)					(6,508)
Issuance of common stock, net of forfeitures (in shares)			134,933
Issuance of common stock, net of forfeitures	1,911		$ 1		1,910
Compensation expense for stock based awards	1,506				1,506
Repurchase of common stock (in shares)			(93,620)
Repurchase of common stock	(4,910)		$ (1)		(1,278)	(3,631)
Balance at Jun. 30, 2018	2,286,703	$ 0	$ 293	$ 115	2,586	2,271,171	2,704	9,834
Balance (in shares) at Jun. 30, 2018		0	29,331,002	11,468,587
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	49,539					49,435		104
Balance (in shares) at Dec. 31, 2018		0	28,798,464	11,459,641
Balance at Dec. 31, 2018	2,314,779	$ 0	$ 288	$ 115	622	2,299,556	3,883	10,315
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	52							52
Net income (loss)	66,325					66,210		115
Other comprehensive income (loss)	(739)						(739)
Distribution to noncontrolling interests	(113)							(113)
Cash dividend on Class A and Class B common stock	(14,403)					(14,403)
Issuance of common stock, net of forfeitures (in shares)			141,529
Issuance of common stock, net of forfeitures	3,877		$ 1		3,876
Compensation expense for stock based awards	2,958				2,958
Repurchase of common stock (in shares)			(720,467)
Repurchase of common stock	(40,041)		$ (7)		(5,786)	(34,248)
Conversion of common stock (in shares)			180,000	(180,000)
Conversion of common stock			$ 2	$ (2)
Balance at Jun. 30, 2019	2,326,618	$ 0	$ 284	$ 113	1,670	2,317,115	3,144	4,292
Balance (in shares) at Jun. 30, 2019		0	28,399,526	11,279,641
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	66,325					66,210		115
Balance (in shares) at Mar. 31, 2019		0	28,628,528	11,459,641
Balance at Mar. 31, 2019	2,330,294	$ 0	$ 286	$ 115	636	2,321,407	3,552	4,298
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of noncontrolling interests	26							26
Net income (loss)	24,678					24,619		59
Other comprehensive income (loss)	(408)						(408)
Distribution to noncontrolling interests	(91)							(91)
Cash dividend on Class A and Class B common stock	(7,172)					(7,172)
Issuance of common stock, net of forfeitures (in shares)			10,138
Issuance of common stock, net of forfeitures	1,384				1,384
Compensation expense for stock based awards	1,590				1,590
Repurchase of common stock (in shares)			(419,140)
Repurchase of common stock	(23,683)		$ (4)		(1,940)	(21,739)
Conversion of common stock (in shares)			180,000	(180,000)
Conversion of common stock			$ 2	$ (2)
Balance at Jun. 30, 2019	2,326,618	$ 0	$ 284	$ 113	$ 1,670	2,317,115	$ 3,144	4,292
Balance (in shares) at Jun. 30, 2019		0	28,399,526	11,279,641
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 24,678					$ 24,619		$ 59

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Common Class A
Dividends paid per common share (in dollars per share)	$ 0.18	$ 0.16	$ 0.36	$ 0.32
Common Class B
Dividends paid per common share (in dollars per share)	$ 0.18	$ 0.16	$ 0.36	$ 0.32

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Statement of Cash Flows [Abstract]
Net income attributable to Nelnet, Inc.	$ 66,210	$ 163,359
Net income (loss) attributable to noncontrolling interests	115	(637)
Net income	66,325	162,722
Adjustments to reconcile net income to net cash (used in) provided by operating activities, net of acquisition:
Depreciation and amortization, including debt discounts and loan premiums and deferred origination costs	94,121	89,225
Loan discount accretion	(18,806)	(21,799)
Provision for loan losses	16,000	7,500
Derivative market value adjustments	67,635	(55,135)
Proceeds from termination of derivative instruments	2,119	0
(Payments to) proceeds from clearinghouse - initial and variation margin, net	(77,229)	40,261
Loss on extinguishment of debt	1,801	0
Gain from sale of loans	(1,712)	0
Gain from debt repurchases	0	(359)
Gain from investments and notes receivable, net	(2,970)	(6,828)
Deferred income tax (benefit) expense	(15,023)	21,294
Non-cash compensation expense	3,138	2,735
Other	(214)	1,810
Increase in accrued interest receivable	(44,967)	(160,698)
(Increase) decrease in accounts receivable	(5,972)	2,400
(Increase) decrease in other assets	(1,543)	54,249
(Decrease) increase in accrued interest payable	(5,208)	13,187
Decrease in other liabilities	(4,669)	(46,572)
Decrease in due to customers	(90,661)	(32,361)
Net cash (used in) provided by operating activities	(17,835)	71,631
Cash flows from investing activities, net of acquisitions:
Purchases of loans	(997,123)	(2,593,232)
Purchases of loans from a related party	(32,580)	0
Net proceeds from loan repayments, claims, capitalized interest, and other	1,889,084	1,694,829
Proceeds from sale of loans	42,215	1,392
Purchases of available-for-sale securities	(1,010)	(38,064)
Proceeds from sales of available-for-sale securities	192	31,785
Purchases of investments and issuance of notes receivable	(26,314)	(24,224)
Proceeds from investments and notes receivable	24,731	16,092
Purchases of property and equipment	(43,715)	(65,009)
Business acquisition, net of cash and restricted cash acquired	0	(109,152)
Net cash provided by (used in) investing activities	855,480	(1,085,583)
Cash flows from financing activities:
Payments on bonds and notes payable	(2,007,483)	(1,643,650)
Proceeds from issuance of bonds and notes payable	1,092,186	2,727,412
Payments of debt issuance costs	(5,515)	(5,445)
Payment of debt extinguishment costs	(1,394)	0
Dividends paid	(14,403)	(13,014)
Repurchases of common stock	(40,041)	(16,328)
Proceeds from issuance of common stock	724	501
Acquisition of noncontrolling interest	0	(13,449)
Issuance of noncontrolling interests	0	468
Distribution to noncontrolling interests	(113)	(256)
Net cash (used in) provided by financing activities	(976,039)	1,036,239
Net (decrease) increase in cash, cash equivalents, and restricted cash	(138,394)	22,287
Cash, cash equivalents, and restricted cash, beginning of period	1,192,391	942,066
Cash, cash equivalents, and restricted cash, end of period	1,053,997	964,353
Supplemental disclosures of cash flow information:
Cash disbursements made for interest	354,902	259,980
Cash disbursements (refunds received) for income taxes, net of payments	11,529	(7,290)
Noncash investing activity:
Receipt of beneficial interest in consumer loan securitization	$ 7,921	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Reconciliation of cash, cash equivalents and restricted cash
Total cash and cash equivalents	$ 84,400	$ 121,347	$ 67,867	$ 66,752
Restricted cash	690,580	701,366	741,726	688,193
Restricted cash - due to customers	279,017	369,678	154,760	187,121
Cash, cash equivalents, and restricted cash	$ 1,053,997	$ 1,192,391	$ 964,353	$ 942,066

Basis of Financial Reporting

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Financial Reporting

The accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the “Company”) as of June 30, 2019 and for the three and six months ended June 30, 2019 and 2018 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2018 and, in the opinion of the Company’s management, the unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of results of operations for the interim periods presented. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results for the year ending December 31, 2019. The unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (the "2018 Annual Report").

Accounting Standard Adopted in 2019

In the first quarter of 2019, the Company adopted the following new accounting standard:

Leases

In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Codification Topic 842, Leases ("ASC Topic 842"). The standard requires the identification of arrangements that should be accounted for as leases by lessees and the disclosure of key information about leasing arrangements. The standard establishes a right-of-use ("ROU") model that requires a lessee to recognize a ROU asset and lease liability for all leases with a term longer than twelve months and classify the lease as operating or financing, with the income statement reflecting lease expense for operating leases and amortization/interest expense for financing leases.

The Company adopted the standard effective January 1, 2019, using the effective date as its date of initial application. Consequently, financial information is not updated and the disclosures required under the new standard are not provided for dates and periods before January 1, 2019. The Company elected to utilize the ‘package of practical expedients’, which permitted it to not reassess under the new standard its prior conclusions about lease identification, lease classification, and initial direct costs.

The most significant impact of the standard relates to (1) the recognition of new ROU assets and lease liabilities on the Company's balance sheet; (2) the deconsolidation of assets and liabilities for certain sale-leaseback transactions arising from build-to-suit lease arrangements for which construction was completed and the Company is leasing the constructed assets that did not qualify for sale accounting prior to the adoption of the new standard; and (3) significant new disclosures about the Company’s leasing activities. The build-to-suit lease arrangements have been reassessed as operating leases as of the effective date under ASC Topic 842.

Adoption of the new standard resulted in recognizing lease liabilities of $33.7 million based on the present value of the remaining minimum rental payments. In addition, the Company recognized ROU assets of $32.8 million, which corresponds to the lease liabilities reduced by deferred rent expense as of the effective date. The Company also deconsolidated total assets of $43.8 million and total liabilities of $34.8 million for entities that had been consolidated due to sale-leaseback transactions that failed to qualify for recognition as sales under the prior guidance. Deconsolidation of these entities reduced noncontrolling interests by $6.1 million. The cumulative effect of the changes made to the Company's consolidated balance sheet as of January 1, 2019 for the adoption of the new lease standard was as follows:


	Balances at December 31, 2018		Adjustments from adoption of new lease standard	Balances at January 1, 2019
Assets
Cash and cash equivalents	$	121,347	(646)	120,701
Investments and notes receivable	249,370		(23,134)	226,236
Accounts receivable	59,531		(89)	59,442
Property and equipment, net	344,784		(16,974)	327,810
Other assets	45,533		32,804	78,337
Liabilities
Bonds and notes payable	22,218,740		(33,182)	22,185,558
Other liabilities	256,092		31,220	287,312
Equity
Noncontrolling interests	10,315		(6,077)	4,238

At the inception of an arrangement, the Company determines if the arrangement is, or contains, a lease and records the lease in the consolidated financial statements upon lease commencement, which is the date when the underlying asset is made available by the lessor. The Company primarily leases dark fiber to support its telecommunications operations and office and data center space. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The lease expense for these leases is recognized on a straight-line basis over the lease term. All other lease assets and lease liabilities are recognized based on the present value of lease payments over the lease term at the commencement date. When the discount rate implicit in the lease cannot be readily determined, the Company uses its incremental borrowing rate.

The Company has elected to utilize the practical expedient to account for lease and non-lease components together as a single, combined lease component for its office and data center space. In addition, the Company has identified itself as the lessor in its Communications operating segment for services provided to customers that include customer-premise equipment. The Company has also elected to utilize the practical expedient to account for those services and associated leases as a single, combined component. The non-lease services are 'predominant' in those contracts. Therefore, the combined component is considered a single performance obligation under ASC Topic 606, Revenue from Contracts with Customers.

Most leases include one or more options to renew, with renewal terms that can be extended. The exercise of lease renewal options for the majority of leases is at the Company's discretion. Renewal options that the Company is reasonably certain to exercise are included in the lease term.

Certain leases include escalating rental payments or rental payments adjusted periodically for inflation. None of the lease agreements include any residual value guarantees, a transfer of title, or a purchase option that is reasonably certain to be exercised.

The following table provides supplemental balance sheet information related to leases:


	As of
	June 30, 2019
Operating lease ROU assets, which is included in "other assets" on the consolidated balance sheet	$	31,822
Operating lease liabilities, which is included in "other liabilities" on the consolidated balance sheet	$	32,753

The following table provides components of lease expense:


	Three months ended June 30, 2019		Six months ended June 30, 2019
Rental expense, which is included in "other expenses" on the consolidated statements of income (a)	$	2,705	5,500
Rental expense, which is included in "cost to provide communications services" on the consolidated statements of income (a)	631		710
Total operating rental expense	$	3,336	6,210

(a) Includes short-term and variable lease costs, which are immaterial.

The following table provides supplemental cash flow information related to leases:


	Six months ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows related to operating leases	$	4,792
Supplemental noncash activity:
Operating ROU assets obtained in exchange for lease obligations, excluding impact of adoption	$	3,298

Weighted average remaining lease term and discount rate are shown below:


	As of
	June 30, 2019
Weighted average remaining lease term	6.02 years
Weighted average discount rate	4.00	%

Maturity of lease liabilities are shown below:


2019 (July 1 - December 31)	$	4,979
2020	8,864
2021	6,352
2022	4,229
2023	3,395
2024 and thereafter	9,187
Total lease payments	37,006
Imputed interest	(4,253)
Total	$	32,753

The Company adopted the new lease standard using the effective date as its date of initial application as noted above, and as required, the following disclosure is provided for periods prior to adoption. Future minimum lease payments as of December 31, 2018 are shown below:


2019	$	9,181
2020	8,261
2021	5,776
2022	3,745
2023	2,904
2024 and thereafter	5,479
Total minimum lease payments	$	35,346

Loans Receivable and Allowance for Loan Losses

6 Months Ended

Jun. 30, 2019

Receivables [Abstract]

Loans Receivable and Allowance for Loan Losses

Loans receivable consisted of the following:


	As of		As of
	June 30, 2019		December 31, 2018
Federally insured student loans:
Stafford and other	$	4,804,295	4,969,667
Consolidation	16,349,837		17,186,229
Total	21,154,132		22,155,896
Private education loans	198,752		225,975
Consumer loans	237,952		138,627
	21,590,836		22,520,498
Loan discount, net of unamortized loan premiums and deferred origination costs	(38,952)		(53,572)
Non-accretable discount	(33,535)		(29,396)
Allowance for loan losses:
Federally insured loans	(39,056)		(42,310)
Private education loans	(10,157)		(10,838)
Consumer loans	(13,378)		(7,240)
	$	21,455,758	22,377,142

On May 1, 2019, the Company sold $47.7 million (par value) of consumer loans to an unrelated third party who securitized such loans. The Company recognized a $1.7 million gain as part of this transaction. As partial consideration received for the consumer loans sold, the Company received an approximate 11 percent beneficial interest in the consumer loan securitization that is included in "investments and notes receivable" on the Company's consolidated balance sheet.

Activity in the Allowance for Loan Losses

The provision for loan losses represents the periodic expense of maintaining an allowance sufficient to absorb losses, net of recoveries, inherent in the portfolio of loans. Activity in the allowance for loan losses is shown below.


	Three months ended June 30, 2019
	Balance at beginning of period		Provision for loan losses	Charge-offs	Recoveries	Loan sale and other	Balance at end of period
Federally insured loans	$	40,934	2,000	(3,878)	—	—	39,056
Private education loans	10,587		—	(588)	158	—	10,157
Consumer loans	10,257		7,000	(2,652)	273	(1,500)	13,378
	$	61,778	9,000	(7,118)	431	(1,500)	62,591

	Three months ended June 30, 2018
Federally insured loans	$	38,374	2,000	(3,111)	—	—	37,263
Private education loans	12,255		—	(773)	182	—	11,664
Consumer loans	4,665		1,500	(1,378)	1	—	4,788
	$	55,294	3,500	(5,262)	183	—	53,715

	Six months ended June 30, 2019
Federally insured loans	$	42,310	4,000	(7,254)	—	—	39,056
Private education loans	10,838		—	(1,070)	389	—	10,157
Consumer loans	7,240		12,000	(4,658)	296	(1,500)	13,378
	$	60,388	16,000	(12,982)	685	(1,500)	62,591

	Six months ended June 30, 2018
Federally insured loans	$	38,706	4,000	(6,443)	—	1,000	37,263
Private education loans	12,629		—	(1,312)	347	—	11,664
Consumer loans	3,255		3,500	(1,973)	6	—	4,788
	$	54,590	7,500	(9,728)	353	1,000	53,715

Loan Status and Delinquencies

Delinquencies have the potential to adversely impact the Company’s earnings through increased servicing and collection costs and account charge-offs. The table below shows the Company’s loan delinquency amounts.


	As of June 30, 2019						As of December 31, 2018						As of June 30, 2018
Federally insured loans:
Loans in-school/grace/deferment	$	1,222,021			$	1,298,493			$	1,349,739
Loans in forbearance	1,420,120				1,430,291				1,633,600
Loans in repayment status:
Loans current	16,055,368		86.7	%	16,882,252		86.9	%	17,211,088		87.8	%
Loans delinquent 31-60 days	677,113		3.7		683,084		3.5		686,083		3.5
Loans delinquent 61-90 days	443,988		2.4		427,764		2.2		500,480		2.6
Loans delinquent 91-120 days	269,688		1.5		283,831		1.5		261,612		1.3
Loans delinquent 121-270 days	755,093		4.1		806,692		4.2		751,526		3.8
Loans delinquent 271 days or greater	310,741		1.6		343,489		1.7		200,662		1.0
Total loans in repayment	18,511,991		100.0	%	19,427,112		100.0	%	19,611,451		100.0	%
Total federally insured loans	$	21,154,132			$	22,155,896			$	22,594,790
Private education loans:
Loans in-school/grace/deferment	$	3,912			$	4,320			$	4,194
Loans in forbearance	1,143				1,494				2,012
Loans in repayment status:
Loans current	183,414		94.7	%	208,977		95.0	%	168,093		96.2	%
Loans delinquent 31-60 days	3,491		1.8		3,626		1.6		1,498		0.9
Loans delinquent 61-90 days	1,658		0.9		1,560		0.7		1,235		0.7
Loans delinquent 91 days or greater	5,134		2.6		5,998		2.7		3,903		2.2
Total loans in repayment	193,697		100.0	%	220,161		100.0	%	174,729		100.0	%
Total private education loans	$	198,752			$	225,975			$	180,935
Consumer loans:
Loans in repayment status:
Loans current	$	234,944	98.8	%	$	136,130	98.2	%	$	76,401	98.1	%
Loans delinquent 31-60 days	1,254		0.5		1,012		0.7		748		1.0
Loans delinquent 61-90 days	824		0.3		832		0.6		369		0.5
Loans delinquent 91 days or greater	930		0.4		653		0.5		337		0.4
Total loans in repayment	237,952		100.0	%	138,627		100.0	%	77,855		100.0	%
Total consumer loans	$	237,952			$	138,627			$	77,855

Bonds and Notes Payable

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Bonds and Notes Payable

The following tables summarize the Company’s outstanding debt obligations by type of instrument:


	As of June 30, 2019
	Carrying amount		Interest rate range	Final maturity
Variable-rate bonds and notes issued in FFELP loan asset-backed securitizations:
Bonds and notes based on indices	$	19,439,363	2.44% - 4.17%	11/25/24 - 6/27/67
Bonds and notes based on auction	782,076		3.34% - 3.84%	3/22/32 - 11/26/46
Total FFELP variable-rate bonds and notes	20,221,439
FFELP warehouse facilities	777,263		2.57% / 2.62%	11/20/20 / 5/31/22
Consumer loan warehouse facility	117,127		4.24%	4/23/22
Variable-rate bonds and notes issued in private education loan asset-backed securitizations	89,612		3.90% / 4.15%	12/26/40 / 6/25/49
Fixed-rate bonds and notes issued in private education loan asset-backed securitization	56,461		3.60% / 5.35%	12/26/40 / 12/28/43
Unsecured line of credit	260,000		3.88% - 3.93%	6/22/23
Unsecured debt - Junior Subordinated Hybrid Securities	20,381		5.97%	9/15/61
Other borrowings	45,585		3.14% - 4.19%	7/3/19 - 5/30/22
	21,587,868
Discount on bonds and notes payable and debt issuance costs	(293,676)
Total	$	21,294,192


	As of December 31, 2018
	Carrying amount		Interest rate range	Final maturity
Variable-rate bonds and notes issued in FFELP loan asset-backed securitizations:
Bonds and notes based on indices	$	20,192,123	2.59% - 4.52%	11/25/24 - 2/25/67
Bonds and notes based on auction	793,476		2.84% - 3.55%	3/22/32 - 11/26/46
Total FFELP variable-rate bonds and notes	20,985,599
FFELP warehouse facilities	986,886		2.65% / 2.71%	5/20/20 / 5/31/21
Variable-rate bonds and notes issued in private education loan asset-backed securitization	50,720		4.26%	12/26/40
Fixed-rate bonds and notes issued in private education loan asset-backed securitization	63,171		3.60% / 5.35%	12/26/40 / 12/28/43
Unsecured line of credit	310,000		3.92% - 4.01%	6/22/23
Unsecured debt - Junior Subordinated Hybrid Securities	20,381		6.17%	9/15/61
Other borrowings	120,342		3.05% - 5.22%	1/3/19 - 12/15/45
	22,537,099
Discount on bonds and notes payable and debt issuance costs	(318,359)
Total	$	22,218,740

FFELP Warehouse Facilities

The Company funds the majority of its Federal Family Education Loan Program (the "FFEL Program" or "FFELP") loan acquisitions using its FFELP warehouse facilities. Student loan warehousing allows the Company to buy and manage student loans prior to transferring them into more permanent financing arrangements.

As of June 30, 2019, the Company had two FFELP warehouse facilities as summarized below.


	NFSLW-I (a)		NHELP-II (b)	Total
Maximum financing amount	$	500,000	500,000	1,000,000
Amount outstanding	414,870		362,393	777,263
Amount available	$	85,130	137,607	222,737
Expiration of liquidity provisions	November 20, 2019		May 31, 2020
Final maturity date	November 20, 2020		May 31, 2022


Advanced as equity support	$	21,661	27,658	49,319

(a) On March 8, 2019, the Company decreased the maximum financing amount for this warehouse facility to $500 million. On May 16, 2019, the Company extended the expiration of liquidity provisions to November 20, 2019, and extended the maturity date to November 20, 2020.

(b) On May 30, 2019, the Company extended the expiration of liquidity provisions to May 31, 2020, and extended the maturity date to May 31, 2022.

Asset-Backed Securitizations

The following table summarizes the asset-backed securitization transactions completed during the first six months of 2019.

2019-1

2019-2

Private education loan 2019-A

Total

Class A-1 Notes

Class A-2 Notes

2019-1 total

Date securities issued

2/27/19

4/30/19

6/25/19

Class A senior notes:

Total principal amount

$

35,700

448,000

483,700

405,000

47,159

935,859

Cost of funds

1-month LIBOR plus 0.30%

1-month LIBOR plus 0.75%

1-month LIBOR plus 0.90%

Prime rate less 1.60%

Final maturity date

4/25/67

6/27/67

6/25/49

Class B subordinated notes:

Total principal amount

13,100

11,100

24,200

Cost of funds

1-month LIBOR plus 1.40%

1-month LIBOR plus 1.50%

Final maturity date

4/25/67

6/27/67

Total principal amount issued

$

35,700

448,000

496,800

416,100

47,159

960,059

On June 7, 2019, the Company extinguished all $93.0 million of the notes included in one of its FFELP asset-backed securitizations prior to the notes' contractual maturity. The Company paid a $1.4 million premium to extinguish the notes and wrote off $0.4 million of debt issuance costs. In total, the Company recognized a $1.8 million expense to extinguish the notes, which is included in other expenses on the consolidated statements of income.

Subsequent to June 30, 2019, the Company obtained consent from bond holders in five additional FFELP asset-backed securitizations to extinguish a total of approximately $579 million of notes payable in these transactions prior to their contractual maturity. To extinguish the notes, the Company will pay a premium of approximately $13 million that will be expensed by the Company in the third quarter of 2019. The Company will also write off approximately $2 million of debt issuance costs associated with these securitizations. In total, the Company will recognize approximately $15 million in expenses in the third quarter of 2019 to extinguish these notes.

Consumer Loan Warehouse Facility

On January 11, 2019, the Company obtained a consumer loan warehouse facility with an aggregate maximum financing amount available of $100.0 million, an advance rate of 70 or 75 percent depending on the type of collateral and subject to certain concentration limits, and a maturity date of January 10, 2022. On April 25, 2019, the Company amended the agreement for this warehouse facility to increase the aggregate maximum financing amount available to $200.0 million, extend the expiration of liquidity provisions to April 23, 2021, and extend the final maturity date to April 23, 2022. As of June 30, 2019, $117.1 million was outstanding under this warehouse facility and $82.9 million was available for future funding. Additionally, as of June 30, 2019, the Company had $41.3 million advanced as equity support under this facility.

Unsecured Line of Credit

The Company has a $382.5 million unsecured line of credit that has a maturity date of June 22, 2023. As of June 30, 2019, $260.0 million was outstanding under the line of credit and $122.5 million was available for future use. The line of credit provides that the Company may increase the aggregate financing commitments, through the existing lenders and/or through new lenders, up to a total of $400.0 million, subject to certain conditions.

Other Borrowings

During 2017, the Company entered into a repurchase agreement, the proceeds of which are collateralized by FFELP asset-backed security investments. Included in "other borrowings" as of June 30, 2019 and December 31, 2018, was $40.6 million and $41.4 million, respectively, subject to this repurchase agreement.

During 2018, the Company entered into a repurchase agreement, the proceeds of which were collateralized by private education loans. On June 25, 2019, the Company terminated this repurchase agreement. Included in "other borrowings" as of December 31, 2018 was $45.0 million subject to this repurchase agreement.

On May 30, 2019, the Company entered into a $22.0 million secured line of credit agreement with a maturity date of May 30, 2022 and an interest rate of one-month LIBOR plus 1.75%. As of June 30, 2019, $5.0 million was outstanding under this line of credit and $17.0 million was available for future use. The line of credit is secured by several Company-owned properties.

The Company had other notes payable included in its consolidated financial statements which were issued by partnerships for certain real estate development projects. Although the Company's ownership interests in these partnerships are 50 percent or less, because the Company was the developer of and is a current tenant in the associated buildings, the operating results of these partnerships were included in the Company's consolidated financial statements. On January 1, 2019, the Company adopted a new accounting standard for leases (see note 1). As a result of the adoption of this new standard, these real estate entities were deconsolidated, including $33.9 million of related debt. Prior to January 1, 2019, this debt was included in "other borrowings."

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

The Company uses derivative financial instruments to manage interest rate risk. Derivative instruments used as part of the Company's risk management strategy are further described in note 5 of the notes to consolidated financial statements included in the 2018 Annual Report. A tabular presentation of such derivatives outstanding as of June 30, 2019 and December 31, 2018 is presented below.

Basis Swaps

The following table summarizes the Company’s outstanding basis swaps in which the Company receives three-month LIBOR set discretely in advance and pays one-month LIBOR plus or minus a spread as defined in the agreements (the "1:3 Basis Swaps").


	As of June 30,		As of December 31,
	2019		2018
Maturity	Notional amount		Notional amount
2019	$	1,000,000	3,500,000
2020	1,000,000		1,000,000
2021	250,000		250,000
2022 (a)	2,000,000		2,000,000
2023	750,000		750,000
2024	1,750,000		250,000
2026	1,150,000		1,150,000
2027 (b)	375,000		375,000
2028 (b)	325,000		325,000
2029 (b)	100,000		100,000
2031 (b)	300,000		300,000

	$	9,000,000	10,000,000

(a) $750 million of the notional amount of these derivatives have forward effective start dates in May 2020.

(b) Subsequent to June 30, 2019, the Company terminated $125 million (notional amount), $325 million (notional amount), $100 million (notional amount), and $300 million (notional amount) of 1:3 Basis Swaps that had a maturity date in 2027, 2028, 2029, and 2031, respectively.

The weighted average rate paid by the Company on the 1:3 Basis Swaps as of June 30, 2019 and December 31, 2018 was one-month LIBOR plus 9.6 basis points and 9.4 basis points, respectively.

Interest Rate Swaps – Floor Income Hedges

The following table summarizes the outstanding derivative instruments used by the Company to economically hedge loans earning fixed rate floor income.


	As of June 30, 2019						As of December 31, 2018
Maturity	Notional amount		Weighted average fixed rate paid by the Company (a)		Notional amount		Weighted average fixed rate paid by the Company (a)

2019	$	500,000	1.12	%	$	3,250,000	0.97	%
2020	1,500,000		1.01		1,500,000		1.01
2021	600,000		2.15		100,000		2.95
2022 (b)	500,000		1.90		—		—
2023	400,000		2.24		400,000		2.24
2024	200,000		2.27		300,000		2.28
2027	—		—		25,000		2.35


	$	3,700,000	1.53	%	$	5,575,000	1.18	%

(a) For all interest rate derivatives, the Company receives discrete three-month LIBOR.

(b) $250 million of the notional amount of these derivatives have forward effective start dates in June 2021.

Interest Rate Swap Options – Floor Income Hedges

During 2014 and 2018, the Company paid $9.1 million and $4.6 million, respectively, for interest rate swap options to economically hedge loans earning fixed rate floor income. The interest rate swap options give the Company the right, but not the obligation, to enter into interest rate swaps in which the Company would pay a fixed amount and receive discrete one-month LIBOR. The following table summarizes these derivative instruments as of June 30, 2019.


If exercised effective date	Notional amount		Weighted average fixed rate paid by the Company		If exercised maturity date
August 21, 2019	$	750,000	3.28	%	August 21, 2024
September 25, 2019	250,000		3.00		September 25, 2024
	$	1,000,000	3.21	%

Interest Rate Caps

In June 2015 and June 2019, the Company paid $2.9 million and $0.3 million, respectively, for interest rate cap contracts to mitigate a rise in interest rates and its impact on earnings related to its student loan portfolio earning a fixed rate. In the event that the one-month LIBOR or three-month LIBOR rate rises above the applicable strike rate, the Company would receive monthly payments related to the spread difference. The following table summarizes these derivative instruments as of June 30, 2019.

Notional amount

Strike rate

Maturity date

$

125,000

2.50% (1-month LIBOR)

July 15, 2020

150,000

4.99 (1-month LIBOR)

July 15, 2020

500,000

2.25 (3-month LIBOR)

September 25, 2020

Consolidated Financial Statement Impact Related to Derivatives

Balance Sheet

The following table summarizes the fair value of the Company’s derivatives as reflected in the consolidated balance sheets. There is no difference between the gross amounts of recognized assets presented in the consolidated balance sheets related to the Company's derivative portfolio and the net amount when excluding derivatives subject to enforceable master netting arrangements and cash collateral received.


	Fair value of asset derivatives				Fair value of liability derivatives
	As of June 30, 2019		As of December 31, 2018	As of June 30, 2019	As of December 31, 2018
Interest rate swap options - floor income hedges	$	1	1,465	—	—
Interest rate caps	229		353	—	—
Total	$	230	1,818	—	—

Income Statement Impact

The following table summarizes the components of "derivative market value adjustments and derivative settlements, net" included in the consolidated statements of income.


	Three months ended June 30,				Six months ended June 30,
	2019		2018	2019	2018
Settlements:
1:3 basis swaps	$	807	2,979	3,140	1,315
Interest rate swaps - floor income hedges	12,165		19,074	28,867	27,664
Interest rate swaps - hybrid debt hedges	—		(125)	—	(285)
Total settlements - income	12,972		21,928	32,007	28,694
Change in fair value:
1:3 basis swaps	4		(2,522)	(2,209)	10,775
Interest rate swaps - floor income hedges	(36,851)		(2,766)	(63,563)	41,434
Interest rate swap options - floor income hedges	(88)		(279)	(1,464)	468
Interest rate caps	(125)		122	(399)	448
Interest rate swaps - hybrid debt hedges	—		548	—	2,010
Total change in fair value - (expense) income	(37,060)		(4,897)	(67,635)	55,135
Derivative market value adjustments and derivative settlements, net - (expense) income	$	(24,088)	17,031	(35,628)	83,829

Investments and Notes Receivable

6 Months Ended

Jun. 30, 2019

Investments [Abstract]

Investments and Notes Receivable

A summary of the Company's investments and notes receivable follows:


	As of June 30, 2019									As of December 31, 2018
	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value		Amortized cost	Gross unrealized gains	Gross unrealized losses	Fair value

Investments (at fair value):
Student loan asset-backed and other debt securities - available-for-sale	$	48,749	4,136	—	52,885		47,931	5,109	—	53,040
Equity securities	12,535		6,648	(1,085)	18,098		12,909	5,145	(407)	17,647
Total investments (at fair value)	$	61,284	10,784	(1,085)	70,983		60,840	10,254	(407)	70,687

Other Investments and Notes Receivable (not measured at fair value):
Venture capital and funds:
Measurement alternative					71,356					70,939
Equity method					15,677					19,230
Other					700					900
Total venture capital and funds					87,733					91,069
Real estate:
Equity method					38,790					29,168
Other					10,622					34,211
Total real estate					49,412					63,379

Beneficial interest in consumer loan securitization					6,953					—
Tax liens and affordable housing					6,855					7,862
Notes receivable					—					16,373
Total investments and notes receivable (not measured at fair value)					150,953					178,683
Total investments and notes receivable					$	221,936				249,370

Intangible Assets

6 Months Ended

Jun. 30, 2019

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible Assets

Intangible assets consist of the following:


	Weighted average remaining useful life as of June 30, 2019 (months)
						As of	As of
				June 30, 2019		December 31, 2018
Amortizable intangible assets, net:
Customer relationships (net of accumulated amortization of $47,287 and $33,968, respectively)	81	$	85,166		98,484
Trade names (net of accumulated amortization of $7,520 and $5,825, respectively)	89	9,173			10,868
Computer software (net of accumulated amortization of $2,249 and $15,420, respectively)	19	3,138			4,938
Total - amortizable intangible assets, net	80	$	97,477		114,290

The Company recorded amortization expense on its intangible assets of $8.3 million and $7.8 million during the three months ended June 30, 2019 and 2018, respectively, and $16.8 million and $14.0 million during the six months ended June 30, 2019 and 2018, respectively. The Company will continue to amortize intangible assets over their remaining useful lives. As of June 30, 2019, the Company estimates it will record amortization expense as follows:


2019 (July 1 - December 31)	$	15,945
2020	29,515
2021	18,761
2022	7,172
2023	6,925
2024 and thereafter	19,159
	$	97,477

Goodwill

6 Months Ended

Jun. 30, 2019

Goodwill [Abstract]

Goodwill

The carrying amount of goodwill as of December 31, 2018 and June 30, 2019 by reportable operating segment was as follows:


	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Asset Generation and Management	Corporate and Other Activities	Total
Goodwill balance	$	23,639	70,278	21,112	41,883	—	156,912

Property and Equipment

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consisted of the following:


		As of		As of
	Useful life	June 30, 2019		December 31, 2018
Non-communications:
Computer equipment and software	1-5 years	$	150,017	137,705
Building and building improvements	5-48 years	38,094		50,138
Office furniture and equipment	1-10 years	23,901		22,796
Leasehold improvements	1-15 years	8,991		9,327
Transportation equipment	5-10 years	5,049		5,123
Land	—	1,400		3,328
Construction in progress	—	2,709		3,578
		230,161		231,995
Accumulated depreciation - non-communications		(138,325)		(123,003)
Non-communications, net property and equipment		91,836		108,992

Communications:
Network plant and fiber	5-15 years	238,248		215,787
Customer located property	3-7 years	24,839		21,234
Central office	5-15 years	17,274		15,688
Transportation equipment	4-10 years	6,732		6,580
Computer equipment and software	1-5 years	5,185		4,943
Other	1-39 years	3,419		3,219
Land	—	70		70
Construction in progress	—	2,466		6,344
		298,233		273,865
Accumulated depreciation - communications		(52,651)		(38,073)
Communications, net property and equipment		245,582		235,792
Total property and equipment, net		$	337,418	344,784

The Company recorded depreciation expense on its property and equipment of $16.2 million and $13.7 million during the three months ended June 30, 2019 and 2018, respectively, and $31.9 million and $26.0 million during the six months ended June 30, 2019 and 2018, respectively.

Earnings per Common Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings per Common Share

Presented below is a summary of the components used to calculate basic and diluted earnings per share. The Company applies the two-class method in computing both basic and diluted earnings per share, which requires the calculation of separate earnings per share amounts for common stock and unvested share-based awards. Unvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock.


	Three months ended June 30,
	2019						2018
	Common shareholders		Unvested restricted stock shareholders	Total	Common shareholders	Unvested restricted stock shareholders	Total
Numerator:
Net income attributable to Nelnet, Inc.	$	24,292	327	24,619	48,860	575	49,435

Denominator:
Weighted-average common shares outstanding - basic and diluted	39,518,652		531,413	40,050,065	40,411,359	475,258	40,886,617
Earnings per share - basic and diluted	$	0.61	0.61	0.61	1.21	1.21	1.21


	Six months ended June 30,
	2019						2018
	Common shareholders		Unvested restricted stock shareholders	Total	Common shareholders	Unvested restricted stock shareholders	Total
Numerator:
Net income attributable to Nelnet, Inc.	$	65,346	864	66,210	161,594	1,765	163,359

Denominator:
Weighted-average common shares outstanding - basic and diluted	39,685,958		524,829	40,210,787	40,476,254	442,142	40,918,396
Earnings per share - basic and diluted	$	1.65	1.65	1.65	3.99	3.99	3.99

Segment Reporting

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Reporting

See note 14 of the notes to consolidated financial statements included in the 2018 Annual Report for a description of the Company's operating segments. The following tables include the results of each of the Company's operating segments reconciled to the consolidated financial statements.


	Three months ended June 30, 2019
	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Asset Generation and Management	Corporate and Other Activities	Eliminations	Total
Total interest income	$	550	1,659	1	243,295	2,258	(974)	246,788
Interest expense	19		11	—	184,035	3,872	(974)	186,963
Net interest income (expense)	531		1,648	1	59,260	(1,614)	—	59,825
Less provision for loan losses	—		—	—	9,000	—	—	9,000
Net interest income (loss) after provision for loan losses	531		1,648	1	50,260	(1,614)	—	50,825
Other income:
Loan servicing and systems revenue	113,985		—	—	—	—	—	113,985
Intersegment servicing revenue	11,598		—	—	—	—	(11,598)	—
Education technology, services, and payment processing revenue	—		60,342	—	—	—	—	60,342
Communications revenue	—		—	15,758	—	—	—	15,758
Other income	2,277		—	362	4,888	8,624	—	16,152

Derivative settlements, net	—		—	—	12,972	—	—	12,972
Derivative market value adjustments, net	—		—	—	(37,060)	—	—	(37,060)
Total other income	127,860		60,342	16,120	(19,200)	8,624	(11,598)	182,149
Cost of services:
Cost to provide education technology, services, and payment processing services	—		15,871	—	—	—	—	15,871
Cost to provide communications services	—		—	5,101	—	—	—	5,101
Total cost of services	—		15,871	5,101	—	—	—	20,972
Operating expenses:
Salaries and benefits	66,496		22,823	5,192	382	16,321	—	111,214
Depreciation and amortization	8,799		3,324	7,737	—	4,623	—	24,484
Loan servicing fees to third parties	—		—	—	3,156	—	—	3,156
Other expenses	17,118		5,805	3,865	3,051	12,423	—	42,261
Intersegment expenses, net	13,604		3,148	716	11,665	(17,535)	(11,598)	—
Total operating expenses	106,017		35,100	17,510	18,254	15,832	(11,598)	181,115
Income (loss) before income taxes	22,374		11,019	(6,490)	12,806	(8,822)	—	30,887
Income tax (expense) benefit	(5,370)		(2,645)	1,558	(3,074)	3,321	—	(6,209)
Net income (loss)	17,004		8,374	(4,932)	9,732	(5,501)	—	24,678
Net income attributable to noncontrolling interests	—		—	—	—	(59)	—	(59)
Net income (loss) attributable to Nelnet, Inc.	$	17,004	8,374	(4,932)	9,732	(5,560)	—	24,619

Total assets as of June 30, 2019	$	267,611	336,896	302,873	22,907,234	595,623	(190,437)	24,219,800


	Three months ended June 30, 2018
	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Asset Generation and Management	Corporate and Other Activities	Eliminations	Total
Total interest income	$	293	748	1	226,509	6,062	(4,425)	229,189
Interest expense	—		—	3,303	169,623	2,949	(4,425)	171,450
Net interest income (expense)	293		748	(3,302)	56,886	3,113	—	57,739
Less provision for loan losses	—		—	—	3,500	—	—	3,500
Net interest income (loss) after provision for loan losses	293		748	(3,302)	53,386	3,113	—	54,239
Other income:
Loan servicing and systems revenue	114,545		—	—	—	—	—	114,545
Intersegment servicing revenue	11,609		—	—	—	—	(11,609)	—
Education technology, services, and payment processing revenue	—		48,742	—	—	—	—	48,742
Communications revenue	—		—	10,320	—	—	—	10,320
Other income	1,956		—	—	2,772	4,851	—	9,580

Derivative settlements, net	—		—	—	22,053	(125)	—	21,928
Derivative market value adjustments, net	—		—	—	(5,446)	548	—	(4,897)
Total other income	128,110		48,742	10,320	19,379	5,274	(11,609)	200,218
Cost of services:
Cost to provide education technology, services, and payment processing services	—		11,317	—	—	—	—	11,317
Cost to provide communications services	—		—	3,865	—	—	—	3,865
Total cost of services	—		11,317	3,865	—	—	—	15,182
Operating expenses:
Salaries and benefits	69,434		19,513	4,668	377	17,126	—	111,118
Depreciation and amortization	8,212		3,286	5,497	—	4,500	—	21,494
Loan servicing fees to third parties	—		—	—	3,204	—	—	3,204
Other expenses	17,490		5,383	3,023	1,288	13,225	—	40,409
Intersegment expenses, net	15,583		2,570	599	11,700	(18,842)	(11,609)	—
Total operating expenses	110,719		30,752	13,787	16,569	16,009	(11,609)	176,225
Income (loss) before income taxes	17,684		7,421	(10,634)	56,196	(7,622)	—	63,050
Income tax (expense) benefit	(4,245)		(1,781)	2,552	(13,487)	3,451	—	(13,511)
Net income (loss)	13,439		5,640	(8,082)	42,709	(4,171)	—	49,539
Net income attributable to noncontrolling interests	—		—	—	—	(104)	—	(104)
Net income (loss) attributable to Nelnet, Inc.	$	13,439	5,640	(8,082)	42,709	(4,275)	—	49,435

Total assets as of June 30, 2018	$	253,140	235,128	252,311	24,092,875	774,086	(398,297)	25,209,244


	Six months ended June 30, 2019
	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Asset Generation and Management	Corporate and Other Activities	Eliminations	Total
Total interest income	$	1,047	3,676	3	490,162	4,310	(1,824)	497,374
Interest expense	19		19	—	372,834	7,685	(1,824)	378,733
Net interest income (expense)	1,028		3,657	3	117,328	(3,375)	—	118,641
Less provision for loan losses	—		—	—	16,000	—	—	16,000
Net interest income (loss) after provision for loan losses	1,028		3,657	3	101,328	(3,375)	—	102,641
Other income:
Loan servicing and systems revenue	228,883		—	—	—	—	—	228,883
Intersegment servicing revenue	23,815		—	—	—	—	(23,815)	—
Education technology, services, and payment processing revenue	—		139,502	—	—	—	—	139,502
Communications revenue	—		—	30,300	—	—	—	30,300
Other income	4,350		—	487	8,413	11,969	—	25,219

Derivative settlements, net	—		—	—	32,007	—	—	32,007
Derivative market value adjustments, net	—		—	—	(67,635)	—	—	(67,635)
Total other income	257,048		139,502	30,787	(27,215)	11,969	(23,815)	388,276
Cost of services:
Cost to provide education technology, services, and payment processing services	—		36,930	—	—	—	—	36,930
Cost to provide communications services	—		—	9,860	—	—	—	9,860
Total cost of services	—		36,930	9,860	—	—	—	46,790
Operating expenses:
Salaries and benefits	132,715		45,830	9,929	760	33,038	—	222,272
Depreciation and amortization	17,671		6,835	15,099	—	9,093	—	48,697
Loan servicing fees to third parties	—		—	—	6,049	—	—	6,049
Other expenses	36,047		11,116	7,342	3,995	24,685	—	83,184
Intersegment expenses, net	27,362		6,447	1,380	23,952	(35,326)	(23,815)	—
Total operating expenses	213,795		70,228	33,750	34,756	31,490	(23,815)	360,202
Income (loss) before income taxes	44,281		36,001	(12,820)	39,357	(22,896)	—	83,925
Income tax (expense) benefit	(10,628)		(8,640)	3,077	(9,446)	8,037	—	(17,600)
Net income (loss)	33,653		27,361	(9,743)	29,911	(14,859)	—	66,325
Net loss (income) attributable to noncontrolling interests	—		—	—	—	(115)	—	(115)
Net income (loss) attributable to Nelnet, Inc.	$	33,653	27,361	(9,743)	29,911	(14,974)	—	66,210

Total assets as of June 30, 2019	$	267,611	336,896	302,873	22,907,234	595,623	(190,437)	24,219,800


	Six months ended June 30, 2018
	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Asset Generation and Management	Corporate and Other Activities	Eliminations	Total
Total interest income	$	550	1,413	2	426,843	10,813	(7,574)	432,046
Interest expense	—		—	5,812	303,854	4,907	(7,574)	306,999
Net interest income (expense)	550		1,413	(5,810)	122,989	5,906	—	125,047
Less provision for loan losses	—		—	—	7,500	—	—	7,500
Net interest income (loss) after provision for loan losses	550		1,413	(5,810)	115,489	5,906	—	117,547
Other income:
Loan servicing and systems revenue	214,687		—	—	—	—	—	214,687
Intersegment servicing revenue	22,380		—	—	—	—	(22,380)	—
Education technology, services, and payment processing revenue	—		108,963	—	—	—	—	108,963
Communications revenue	—		—	19,509	—	—	—	19,509
Other income	3,248		—	—	6,124	18,765	—	28,135

Derivative settlements, net	—		—	—	28,979	(285)	—	28,694
Derivative market value adjustments, net	—		—	—	53,125	2,010	—	55,135
Total other income	240,315		108,963	19,509	88,228	20,490	(22,380)	455,123
Cost of services:
Cost to provide education technology, services, and payment processing services	—		25,000	—	—	—	—	25,000
Cost to provide communications services	—		—	7,583	—	—	—	7,583
Total cost of services	—		25,000	7,583	—	—	—	32,583
Operating expenses:
Salaries and benefits	127,971		38,580	8,730	759	31,720	—	207,760
Depreciation and amortization	14,280		6,627	10,418	—	8,626	—	39,951
Loan servicing fees to third parties	—		—	—	6,341	—	—	6,341
Other expenses	31,953		10,006	5,660	2,137	24,070	—	73,826
Intersegment expenses, net	28,939		5,136	1,204	22,565	(35,464)	(22,380)	—
Total operating expenses	203,143		60,349	26,012	31,802	28,952	(22,380)	327,878
Income (loss) before income taxes	37,722		25,027	(19,896)	171,915	(2,556)	—	212,209
Income tax (expense) benefit	(9,247)		(6,006)	4,775	(41,260)	2,251	—	(49,487)
Net income (loss)	28,475		19,021	(15,121)	130,655	(305)	—	162,722
Net loss (income) attributable to noncontrolling interests	808		—	—	—	(172)	—	637
Net income (loss) attributable to Nelnet, Inc.	$	29,283	19,021	(15,121)	130,655	(477)	—	163,359

Total assets as of June 30, 2018	$	253,140	235,128	252,311	24,092,875	774,086	(398,297)	25,209,244

Disaggregated Revenue and Deferred Revenue

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Disaggregated Revenue and Deferred Revenue

The following tables provide disaggregated revenue by service offering and/or customer type for the Company's fee-based reportable operating segments.

Loan Servicing and Systems


	Three months ended June 30,				Six months ended June 30,
	2019		2018	2019	2018
Government servicing - Nelnet	$	40,459	39,781	80,099	79,107
Government servicing - Great Lakes	45,973		45,682	93,050	76,437
Private education and consumer loan servicing	8,985		8,882	18,465	21,983
FFELP servicing	6,424		9,147	13,119	16,838
Software services	10,021		8,671	19,762	16,260
Outsourced services and other	2,123		2,382	4,388	4,062
Loan servicing and systems revenue	$	113,985	114,545	228,883	214,687

Education Technology, Services, and Payment Processing


	Three months ended June 30,				Six months ended June 30,
	2019		2018	2019	2018
Tuition payment plan services	$	24,655	20,417	54,829	43,404
Payment processing	21,311		16,026	50,290	35,952
Education technology and services	14,096		12,018	33,805	28,993
Other	280		281	578	614
Education technology, services, and payment processing revenue	$	60,342	48,742	139,502	108,963

Communications


	Three months ended June 30,				Six months ended June 30,
	2019		2018	2019	2018
Internet	$	9,297	5,387	17,726	10,086
Television	4,050		3,086	7,939	5,872
Telephone	2,395		1,827	4,575	3,512
Other	16		20	60	39
Communications revenue	$	15,758	10,320	30,300	19,509

Residential revenue	$	11,890	7,727	22,955	14,472
Business revenue	3,816		2,535	7,230	4,917
Other	52		58	115	120
Communications revenue	$	15,758	10,320	30,300	19,509

Other Income

The following table provides the components of "other income" on the consolidated statements of income:


	Three months ended June 30,				Six months ended June 30,
	2019		2018	2019	2018
Gain (loss) on investments and notes receivable, net	$	4,258	(901)	3,831	7,787
Borrower late fee income	3,161		2,758	6,674	5,741
Management fee revenue	2,051		1,756	3,923	2,917
Gain on sale of loans	1,712		—	1,712	—
Investment advisory fees	731		1,394	1,441	2,986
Other	4,239		4,573	7,638	8,704
Other income	$	16,152	9,580	25,219	28,135

Deferred Revenue

Activity in the deferred revenue balance, which is included in "other liabilities" on the consolidated balance sheets, is shown below:


	Three months ended June 30, 2019
	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Corporate and Other Activities	Total
Balance, beginning of period	$	3,947	18,498	2,756	1,552	26,753
Deferral of revenue	764		24,770	8,798	841	35,173
Recognition of revenue	(1,396)		(21,779)	(8,474)	(782)	(32,431)

Balance, end of period	$	3,315	21,489	3,080	1,611	29,495

	Three months ended June 30, 2018
Balance, beginning of period	$	4,172	15,248	1,827	1,468	22,715
Deferral of revenue	711		20,913	5,974	1,457	29,055
Recognition of revenue	(1,112)		(18,172)	(5,652)	(1,176)	(26,112)

Balance, end of period	$	3,771	17,989	2,149	1,749	25,658

	Six months ended June 30, 2019
Balance, beginning of period	$	4,413	30,556	2,551	1,602	39,122
Deferral of revenue	1,880		38,732	17,064	1,577	59,253
Recognition of revenue	(2,978)		(47,799)	(16,535)	(1,568)	(68,880)
Balance, end of period	$	3,315	21,489	3,080	1,611	29,495

	Six months ended June 30, 2018
Balance, beginning of period	$	4,968	24,164	1,665	1,479	32,276
Deferral of revenue	964		31,688	11,349	2,105	46,106
Recognition of revenue	(2,161)		(37,863)	(10,865)	(1,835)	(52,724)

Balance, end of period	$	3,771	17,989	2,149	1,749	25,658

Major Customer	6 Months Ended
Major Customer	Jun. 30, 2019
Risks and Uncertainties [Abstract]
Major Customer	Major Customer Nelnet Servicing, LLC ("Nelnet Servicing"), a subsidiary of the Company, earns loan servicing revenue from a servicing contract with the Department of Education (the "Department"). Revenue earned by Nelnet Servicing related to this contract was $40.5 million and $39.8 million for the three months ended June 30, 2019 and 2018, and $80.1 million and $79.1 million for the six months ended June 30, 2019 and 2018, respectively. In addition, Great Lakes Educational Loan Services, Inc. ("Great Lakes"), which was acquired by the Company on February 7, 2018, also earns loan servicing revenue from a similar servicing contract with the Department. Revenue earned by Great Lakes related to this contract was $46.0 million and $45.7 million for the three months ended June 30, 2019 and 2018, respectively, and $93.1 million for the six months ended June 30, 2019. Revenue of $76.4 million was earned for the period from February 7, 2018 to June 30, 2018. Nelnet Servicing and Great Lakes' servicing contracts with the Department previously provided for expiration on June 16, 2019. On May 15, 2019, Nelnet Servicing and Great Lakes each received a Modification of Contract from the Department's Office of Federal Student Aid ("FSA") pursuant to which FSA extended the expiration date of the current contracts to December 15, 2019. In addition, Nelnet Servicing's current Authority to Operate as a loan servicer for the Department expires on August 30, 2019, and is currently under review for renewal. The Company cannot predict the timing or outcome of this review. FSA is conducting a contract procurement process entitled Next Generation Financial Services Environment (“NextGen”) for a new framework for the servicing of all student loans owned by the Department. On January 15, 2019, FSA issued solicitations for three NextGen components: •NextGen Enhanced Processing Solution ("EPS") •NextGen Business Process Operations ("BPO") •NextGen Optimal Processing Solution ("OPS") On April 1, 2019, and August 1, 2019, the Company responded to the EPS and BPO components, respectively. In addition, the Company is part of a team that currently intends to respond to the OPS component, although there is no current published deadline. The Company cannot predict the timing, nature, or outcome of these solicitations.

Related Party Transaction	6 Months Ended
Related Party Transaction	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transaction	Related Party TransactionOn July 26, 2019, the Company, as lender, received a $16.0 million promissory note from Hudl, of which David R. Graff, a member of the Company's Board of Directors, is CEO, co-founder, and a director. The promissory note carries a 14 percent interest rate and is due 180 days from the date of issuance. In connection with this promissory note, the Company entered into a Subordination Agreement with Union Bank and Trust Company ("Union Bank"), a related party, effective as of July 26, 2019, which required the Company to subordinate its promissory note from Hudl to existing notes Union Bank holds from Hudl.

Fair Value

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value

The following tables present the Company’s financial assets and liabilities that are measured at fair value on a recurring basis.


	As of June 30, 2019						As of December 31, 2018
	Level 1		Level 2	Total	Level 1	Level 2		Total
Assets:
Investments:
Student loan and other asset-backed securities - available-for-sale	$	—	52,782	52,782	—	52,936		52,936
Equity securities	3,271		—	3,271	2,722	—		2,722
Equity securities measured at net asset value (a)				14,827				14,925
Debt securities - available-for-sale	103		—	103	104	—		104
Total investments	3,374		52,782	70,983	2,826	52,936		70,687
Derivative instruments	—		230	230	—	1,818		1,818
Total assets	$	3,374	53,012	71,213	2,826	54,754		72,505

(a) In accordance with the Fair Value Measurements Topic of the FASB Accounting Standards Codification, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets:


	As of June 30, 2019
	Fair value		Carrying value	Level 1	Level 2	Level 3
Financial assets:
Loans receivable	$	22,152,953	21,455,758	—	—	22,152,953
Cash and cash equivalents	84,400		84,400	84,400	—	—
Investments (at fair value)	70,983		70,983	3,374	52,782	—
Beneficial interest in consumer loan securitization	6,953		6,953	—	—	6,953
Restricted cash	690,580		690,580	690,580	—	—
Restricted cash – due to customers	279,017		279,017	279,017	—	—

Accrued interest receivable	724,011		724,011	—	724,011	—
Derivative instruments	230		230	—	230	—
Financial liabilities:
Bonds and notes payable	21,077,894		21,294,192	—	21,077,894	—
Accrued interest payable	56,471		56,471	—	56,471	—
Due to customers	279,017		279,017	279,017	—	—


	As of December 31, 2018
	Fair value		Carrying value	Level 1	Level 2	Level 3
Financial assets:
Loans receivable	$	23,521,171	22,377,142	—	—	23,521,171
Cash and cash equivalents	121,347		121,347	121,347	—	—
Investments (at fair value)	70,687		70,687	2,826	52,936	—
Notes receivable	16,373		16,373	—	16,373	—
Restricted cash	701,366		701,366	701,366	—	—
Restricted cash – due to customers	369,678		369,678	369,678	—	—

Accrued interest receivable	679,197		679,197	—	679,197	—
Derivative instruments	1,818		1,818	—	1,818	—
Financial liabilities:
Bonds and notes payable	22,270,462		22,218,740	—	22,270,462	—
Accrued interest payable	61,679		61,679	—	61,679	—
Due to customers	369,678		369,678	369,678	—	—

The methodologies for estimating the fair value of financial assets and liabilities are described in note 20 of the notes to consolidated financial statements included in the 2018 Annual Report.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Basis of Financial Reporting - Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Reporting	Basis of Financial ReportingThe accompanying unaudited consolidated financial statements of Nelnet, Inc. and subsidiaries (the “Company”) as of June 30, 2019 and for the three and six months ended June 30, 2019 and 2018 have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2018 and, in the opinion of the Company’s management, the unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of results of operations for the interim periods presented. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results for the year ending December 31, 2019. The unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (the "2018 Annual Report").
Accounting Standard Adopted in 2019	Accounting Standard Adopted in 2019 In the first quarter of 2019, the Company adopted the following new accounting standard: Leases In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Codification Topic 842, Leases ("ASC Topic 842"). The standard requires the identification of arrangements that should be accounted for as leases by lessees and the disclosure of key information about leasing arrangements. The standard establishes a right-of-use ("ROU") model that requires a lessee to recognize a ROU asset and lease liability for all leases with a term longer than twelve months and classify the lease as operating or financing, with the income statement reflecting lease expense for operating leases and amortization/interest expense for financing leases. The Company adopted the standard effective January 1, 2019, using the effective date as its date of initial application. Consequently, financial information is not updated and the disclosures required under the new standard are not provided for dates and periods before January 1, 2019. The Company elected to utilize the ‘package of practical expedients’, which permitted it to not reassess under the new standard its prior conclusions about lease identification, lease classification, and initial direct costs. The most significant impact of the standard relates to (1) the recognition of new ROU assets and lease liabilities on the Company's balance sheet; (2) the deconsolidation of assets and liabilities for certain sale-leaseback transactions arising from build-to-suit lease arrangements for which construction was completed and the Company is leasing the constructed assets that did not qualify for sale accounting prior to the adoption of the new standard; and (3) significant new disclosures about the Company’s leasing activities. The build-to-suit lease arrangements have been reassessed as operating leases as of the effective date under ASC Topic 842.

Basis of Financial Reporting (Tables)

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Impact on Previous Reporting

The cumulative effect of the changes made to the Company's consolidated balance sheet as of January 1, 2019 for the adoption of the new lease standard was as follows:


	Balances at December 31, 2018		Adjustments from adoption of new lease standard	Balances at January 1, 2019
Assets
Cash and cash equivalents	$	121,347	(646)	120,701
Investments and notes receivable	249,370		(23,134)	226,236
Accounts receivable	59,531		(89)	59,442
Property and equipment, net	344,784		(16,974)	327,810
Other assets	45,533		32,804	78,337
Liabilities
Bonds and notes payable	22,218,740		(33,182)	22,185,558
Other liabilities	256,092		31,220	287,312
Equity
Noncontrolling interests	10,315		(6,077)	4,238

Lessee, Assets and Liabilities

The following table provides supplemental balance sheet information related to leases:


	As of
	June 30, 2019
Operating lease ROU assets, which is included in "other assets" on the consolidated balance sheet	$	31,822
Operating lease liabilities, which is included in "other liabilities" on the consolidated balance sheet	$	32,753

Lease Costs, Cash Flows and Weighted Average Remaining Lease Term

The following table provides components of lease expense:


	Three months ended June 30, 2019		Six months ended June 30, 2019
Rental expense, which is included in "other expenses" on the consolidated statements of income (a)	$	2,705	5,500
Rental expense, which is included in "cost to provide communications services" on the consolidated statements of income (a)	631		710
Total operating rental expense	$	3,336	6,210

(a) Includes short-term and variable lease costs, which are immaterial.

The following table provides supplemental cash flow information related to leases:


	Six months ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows related to operating leases	$	4,792
Supplemental noncash activity:
Operating ROU assets obtained in exchange for lease obligations, excluding impact of adoption	$	3,298

Weighted average remaining lease term and discount rate are shown below:


	As of
	June 30, 2019
Weighted average remaining lease term	6.02 years
Weighted average discount rate	4.00	%

Lease Liability Maturity

Maturity of lease liabilities are shown below:


2019 (July 1 - December 31)	$	4,979
2020	8,864
2021	6,352
2022	4,229
2023	3,395
2024 and thereafter	9,187
Total lease payments	37,006
Imputed interest	(4,253)
Total	$	32,753

Future Minimum Lease Payments

Future minimum lease payments as of December 31, 2018 are shown below:


2019	$	9,181
2020	8,261
2021	5,776
2022	3,745
2023	2,904
2024 and thereafter	5,479
Total minimum lease payments	$	35,346

Loans Receivable and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2019

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Loans receivable consisted of the following:


	As of		As of
	June 30, 2019		December 31, 2018
Federally insured student loans:
Stafford and other	$	4,804,295	4,969,667
Consolidation	16,349,837		17,186,229
Total	21,154,132		22,155,896
Private education loans	198,752		225,975
Consumer loans	237,952		138,627
	21,590,836		22,520,498
Loan discount, net of unamortized loan premiums and deferred origination costs	(38,952)		(53,572)
Non-accretable discount	(33,535)		(29,396)
Allowance for loan losses:
Federally insured loans	(39,056)		(42,310)
Private education loans	(10,157)		(10,838)
Consumer loans	(13,378)		(7,240)
	$	21,455,758	22,377,142

Allowance for Credit Losses on Financing Receivables

Activity in the allowance for loan losses is shown below.


	Three months ended June 30, 2019
	Balance at beginning of period		Provision for loan losses	Charge-offs	Recoveries	Loan sale and other	Balance at end of period
Federally insured loans	$	40,934	2,000	(3,878)	—	—	39,056
Private education loans	10,587		—	(588)	158	—	10,157
Consumer loans	10,257		7,000	(2,652)	273	(1,500)	13,378
	$	61,778	9,000	(7,118)	431	(1,500)	62,591

	Three months ended June 30, 2018
Federally insured loans	$	38,374	2,000	(3,111)	—	—	37,263
Private education loans	12,255		—	(773)	182	—	11,664
Consumer loans	4,665		1,500	(1,378)	1	—	4,788
	$	55,294	3,500	(5,262)	183	—	53,715

	Six months ended June 30, 2019
Federally insured loans	$	42,310	4,000	(7,254)	—	—	39,056
Private education loans	10,838		—	(1,070)	389	—	10,157
Consumer loans	7,240		12,000	(4,658)	296	(1,500)	13,378
	$	60,388	16,000	(12,982)	685	(1,500)	62,591

	Six months ended June 30, 2018
Federally insured loans	$	38,706	4,000	(6,443)	—	1,000	37,263
Private education loans	12,629		—	(1,312)	347	—	11,664
Consumer loans	3,255		3,500	(1,973)	6	—	4,788
	$	54,590	7,500	(9,728)	353	1,000	53,715

Financing Receivable Loan Delinquencies

The table below shows the Company’s loan delinquency amounts.


	As of June 30, 2019						As of December 31, 2018						As of June 30, 2018
Federally insured loans:
Loans in-school/grace/deferment	$	1,222,021			$	1,298,493			$	1,349,739
Loans in forbearance	1,420,120				1,430,291				1,633,600
Loans in repayment status:
Loans current	16,055,368		86.7	%	16,882,252		86.9	%	17,211,088		87.8	%
Loans delinquent 31-60 days	677,113		3.7		683,084		3.5		686,083		3.5
Loans delinquent 61-90 days	443,988		2.4		427,764		2.2		500,480		2.6
Loans delinquent 91-120 days	269,688		1.5		283,831		1.5		261,612		1.3
Loans delinquent 121-270 days	755,093		4.1		806,692		4.2		751,526		3.8
Loans delinquent 271 days or greater	310,741		1.6		343,489		1.7		200,662		1.0
Total loans in repayment	18,511,991		100.0	%	19,427,112		100.0	%	19,611,451		100.0	%
Total federally insured loans	$	21,154,132			$	22,155,896			$	22,594,790
Private education loans:
Loans in-school/grace/deferment	$	3,912			$	4,320			$	4,194
Loans in forbearance	1,143				1,494				2,012
Loans in repayment status:
Loans current	183,414		94.7	%	208,977		95.0	%	168,093		96.2	%
Loans delinquent 31-60 days	3,491		1.8		3,626		1.6		1,498		0.9
Loans delinquent 61-90 days	1,658		0.9		1,560		0.7		1,235		0.7
Loans delinquent 91 days or greater	5,134		2.6		5,998		2.7		3,903		2.2
Total loans in repayment	193,697		100.0	%	220,161		100.0	%	174,729		100.0	%
Total private education loans	$	198,752			$	225,975			$	180,935
Consumer loans:
Loans in repayment status:
Loans current	$	234,944	98.8	%	$	136,130	98.2	%	$	76,401	98.1	%
Loans delinquent 31-60 days	1,254		0.5		1,012		0.7		748		1.0
Loans delinquent 61-90 days	824		0.3		832		0.6		369		0.5
Loans delinquent 91 days or greater	930		0.4		653		0.5		337		0.4
Total loans in repayment	237,952		100.0	%	138,627		100.0	%	77,855		100.0	%
Total consumer loans	$	237,952			$	138,627			$	77,855

Bonds and Notes payable (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The following tables summarize the Company’s outstanding debt obligations by type of instrument:


	As of June 30, 2019
	Carrying amount		Interest rate range	Final maturity
Variable-rate bonds and notes issued in FFELP loan asset-backed securitizations:
Bonds and notes based on indices	$	19,439,363	2.44% - 4.17%	11/25/24 - 6/27/67
Bonds and notes based on auction	782,076		3.34% - 3.84%	3/22/32 - 11/26/46
Total FFELP variable-rate bonds and notes	20,221,439
FFELP warehouse facilities	777,263		2.57% / 2.62%	11/20/20 / 5/31/22
Consumer loan warehouse facility	117,127		4.24%	4/23/22
Variable-rate bonds and notes issued in private education loan asset-backed securitizations	89,612		3.90% / 4.15%	12/26/40 / 6/25/49
Fixed-rate bonds and notes issued in private education loan asset-backed securitization	56,461		3.60% / 5.35%	12/26/40 / 12/28/43
Unsecured line of credit	260,000		3.88% - 3.93%	6/22/23
Unsecured debt - Junior Subordinated Hybrid Securities	20,381		5.97%	9/15/61
Other borrowings	45,585		3.14% - 4.19%	7/3/19 - 5/30/22
	21,587,868
Discount on bonds and notes payable and debt issuance costs	(293,676)
Total	$	21,294,192


	As of December 31, 2018
	Carrying amount		Interest rate range	Final maturity
Variable-rate bonds and notes issued in FFELP loan asset-backed securitizations:
Bonds and notes based on indices	$	20,192,123	2.59% - 4.52%	11/25/24 - 2/25/67
Bonds and notes based on auction	793,476		2.84% - 3.55%	3/22/32 - 11/26/46
Total FFELP variable-rate bonds and notes	20,985,599
FFELP warehouse facilities	986,886		2.65% / 2.71%	5/20/20 / 5/31/21
Variable-rate bonds and notes issued in private education loan asset-backed securitization	50,720		4.26%	12/26/40
Fixed-rate bonds and notes issued in private education loan asset-backed securitization	63,171		3.60% / 5.35%	12/26/40 / 12/28/43
Unsecured line of credit	310,000		3.92% - 4.01%	6/22/23
Unsecured debt - Junior Subordinated Hybrid Securities	20,381		6.17%	9/15/61
Other borrowings	120,342		3.05% - 5.22%	1/3/19 - 12/15/45
	22,537,099
Discount on bonds and notes payable and debt issuance costs	(318,359)
Total	$	22,218,740

Schedule of Line of Credit Facilities

As of June 30, 2019, the Company had two FFELP warehouse facilities as summarized below.


	NFSLW-I (a)		NHELP-II (b)	Total
Maximum financing amount	$	500,000	500,000	1,000,000
Amount outstanding	414,870		362,393	777,263
Amount available	$	85,130	137,607	222,737
Expiration of liquidity provisions	November 20, 2019		May 31, 2020
Final maturity date	November 20, 2020		May 31, 2022


Advanced as equity support	$	21,661	27,658	49,319

(a) On March 8, 2019, the Company decreased the maximum financing amount for this warehouse facility to $500 million. On May 16, 2019, the Company extended the expiration of liquidity provisions to November 20, 2019, and extended the maturity date to November 20, 2020.

(b) On May 30, 2019, the Company extended the expiration of liquidity provisions to May 31, 2020, and extended the maturity date to May 31, 2022.

Schedule of Asset-Backed Securitization

The following table summarizes the asset-backed securitization transactions completed during the first six months of 2019.

2019-1

2019-2

Private education loan 2019-A

Total

Class A-1 Notes

Class A-2 Notes

2019-1 total

Date securities issued

2/27/19

4/30/19

6/25/19

Class A senior notes:

Total principal amount

$

35,700

448,000

483,700

405,000

47,159

935,859

Cost of funds

1-month LIBOR plus 0.30%

1-month LIBOR plus 0.75%

1-month LIBOR plus 0.90%

Prime rate less 1.60%

Final maturity date

4/25/67

6/27/67

6/25/49

Class B subordinated notes:

Total principal amount

13,100

11,100

24,200

Cost of funds

1-month LIBOR plus 1.40%

1-month LIBOR plus 1.50%

Final maturity date

4/25/67

6/27/67

Total principal amount issued

$

35,700

448,000

496,800

416,100

47,159

960,059

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Basis Swap

The following table summarizes the Company’s outstanding basis swaps in which the Company receives three-month LIBOR set discretely in advance and pays one-month LIBOR plus or minus a spread as defined in the agreements (the "1:3 Basis Swaps").


	As of June 30,		As of December 31,
	2019		2018
Maturity	Notional amount		Notional amount
2019	$	1,000,000	3,500,000
2020	1,000,000		1,000,000
2021	250,000		250,000
2022 (a)	2,000,000		2,000,000
2023	750,000		750,000
2024	1,750,000		250,000
2026	1,150,000		1,150,000
2027 (b)	375,000		375,000
2028 (b)	325,000		325,000
2029 (b)	100,000		100,000
2031 (b)	300,000		300,000

	$	9,000,000	10,000,000

(a) $750 million of the notional amount of these derivatives have forward effective start dates in May 2020.

(b) Subsequent to June 30, 2019, the Company terminated $125 million (notional amount), $325 million (notional amount), $100 million (notional amount), and $300 million (notional amount) of 1:3 Basis Swaps that had a maturity date in 2027, 2028, 2029, and 2031, respectively.

Schedule of Interest Rate Swaps, Floor Income Hedge

The following table summarizes the outstanding derivative instruments used by the Company to economically hedge loans earning fixed rate floor income.


	As of June 30, 2019						As of December 31, 2018
Maturity	Notional amount		Weighted average fixed rate paid by the Company (a)		Notional amount		Weighted average fixed rate paid by the Company (a)

2019	$	500,000	1.12	%	$	3,250,000	0.97	%
2020	1,500,000		1.01		1,500,000		1.01
2021	600,000		2.15		100,000		2.95
2022 (b)	500,000		1.90		—		—
2023	400,000		2.24		400,000		2.24
2024	200,000		2.27		300,000		2.28
2027	—		—		25,000		2.35


	$	3,700,000	1.53	%	$	5,575,000	1.18	%

(a) For all interest rate derivatives, the Company receives discrete three-month LIBOR.

(b) $250 million of the notional amount of these derivatives have forward effective start dates in June 2021.

Schedule Of Derivative Swaptions

The following table summarizes these derivative instruments as of June 30, 2019.


If exercised effective date	Notional amount		Weighted average fixed rate paid by the Company		If exercised maturity date
August 21, 2019	$	750,000	3.28	%	August 21, 2024
September 25, 2019	250,000		3.00		September 25, 2024
	$	1,000,000	3.21	%

Schedule of Interest Rate Caps

The following table summarizes these derivative instruments as of June 30, 2019.

Notional amount

Strike rate

Maturity date

$

125,000

2.50% (1-month LIBOR)

July 15, 2020

150,000

4.99 (1-month LIBOR)

July 15, 2020

500,000

2.25 (3-month LIBOR)

September 25, 2020

Schedule of Derivatives as Reflected on Balance Sheet

The following table summarizes the fair value of the Company’s derivatives as reflected in the consolidated balance sheets. There is no difference between the gross amounts of recognized assets presented in the consolidated balance sheets related to the Company's derivative portfolio and the net amount when excluding derivatives subject to enforceable master netting arrangements and cash collateral received.


	Fair value of asset derivatives				Fair value of liability derivatives
	As of June 30, 2019		As of December 31, 2018	As of June 30, 2019	As of December 31, 2018
Interest rate swap options - floor income hedges	$	1	1,465	—	—
Interest rate caps	229		353	—	—
Total	$	230	1,818	—	—

Schedule of Income Statement Impact

The following table summarizes the components of "derivative market value adjustments and derivative settlements, net" included in the consolidated statements of income.


	Three months ended June 30,				Six months ended June 30,
	2019		2018	2019	2018
Settlements:
1:3 basis swaps	$	807	2,979	3,140	1,315
Interest rate swaps - floor income hedges	12,165		19,074	28,867	27,664
Interest rate swaps - hybrid debt hedges	—		(125)	—	(285)
Total settlements - income	12,972		21,928	32,007	28,694
Change in fair value:
1:3 basis swaps	4		(2,522)	(2,209)	10,775
Interest rate swaps - floor income hedges	(36,851)		(2,766)	(63,563)	41,434
Interest rate swap options - floor income hedges	(88)		(279)	(1,464)	468
Interest rate caps	(125)		122	(399)	448
Interest rate swaps - hybrid debt hedges	—		548	—	2,010
Total change in fair value - (expense) income	(37,060)		(4,897)	(67,635)	55,135
Derivative market value adjustments and derivative settlements, net - (expense) income	$	(24,088)	17,031	(35,628)	83,829

Investments and Notes Receivable (Tables)

6 Months Ended

Jun. 30, 2019

Investments [Abstract]

Summary Investment Holdings

A summary of the Company's investments and notes receivable follows:


	As of June 30, 2019									As of December 31, 2018
	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value		Amortized cost	Gross unrealized gains	Gross unrealized losses	Fair value

Investments (at fair value):
Student loan asset-backed and other debt securities - available-for-sale	$	48,749	4,136	—	52,885		47,931	5,109	—	53,040
Equity securities	12,535		6,648	(1,085)	18,098		12,909	5,145	(407)	17,647
Total investments (at fair value)	$	61,284	10,784	(1,085)	70,983		60,840	10,254	(407)	70,687

Other Investments and Notes Receivable (not measured at fair value):
Venture capital and funds:
Measurement alternative					71,356					70,939
Equity method					15,677					19,230
Other					700					900
Total venture capital and funds					87,733					91,069
Real estate:
Equity method					38,790					29,168
Other					10,622					34,211
Total real estate					49,412					63,379

Beneficial interest in consumer loan securitization					6,953					—
Tax liens and affordable housing					6,855					7,862
Notes receivable					—					16,373
Total investments and notes receivable (not measured at fair value)					150,953					178,683
Total investments and notes receivable					$	221,936				249,370

Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2019

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Schedule of Intangible Assets

Intangible assets consist of the following:


	Weighted average remaining useful life as of June 30, 2019 (months)
						As of	As of
				June 30, 2019		December 31, 2018
Amortizable intangible assets, net:
Customer relationships (net of accumulated amortization of $47,287 and $33,968, respectively)	81	$	85,166		98,484
Trade names (net of accumulated amortization of $7,520 and $5,825, respectively)	89	9,173			10,868
Computer software (net of accumulated amortization of $2,249 and $15,420, respectively)	19	3,138			4,938
Total - amortizable intangible assets, net	80	$	97,477		114,290

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of June 30, 2019, the Company estimates it will record amortization expense as follows:


2019 (July 1 - December 31)	$	15,945
2020	29,515
2021	18,761
2022	7,172
2023	6,925
2024 and thereafter	19,159
	$	97,477

Goodwill (Tables)

6 Months Ended

Jun. 30, 2019

Goodwill [Abstract]

Schedule of Goodwill

The carrying amount of goodwill as of December 31, 2018 and June 30, 2019 by reportable operating segment was as follows:


	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Asset Generation and Management	Corporate and Other Activities	Total
Goodwill balance	$	23,639	70,278	21,112	41,883	—	156,912

Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consisted of the following:


		As of		As of
	Useful life	June 30, 2019		December 31, 2018
Non-communications:
Computer equipment and software	1-5 years	$	150,017	137,705
Building and building improvements	5-48 years	38,094		50,138
Office furniture and equipment	1-10 years	23,901		22,796
Leasehold improvements	1-15 years	8,991		9,327
Transportation equipment	5-10 years	5,049		5,123
Land	—	1,400		3,328
Construction in progress	—	2,709		3,578
		230,161		231,995
Accumulated depreciation - non-communications		(138,325)		(123,003)
Non-communications, net property and equipment		91,836		108,992

Communications:
Network plant and fiber	5-15 years	238,248		215,787
Customer located property	3-7 years	24,839		21,234
Central office	5-15 years	17,274		15,688
Transportation equipment	4-10 years	6,732		6,580
Computer equipment and software	1-5 years	5,185		4,943
Other	1-39 years	3,419		3,219
Land	—	70		70
Construction in progress	—	2,466		6,344
		298,233		273,865
Accumulated depreciation - communications		(52,651)		(38,073)
Communications, net property and equipment		245,582		235,792
Total property and equipment, net		$	337,418	344,784

Earnings per Common Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Presented below is a summary of the components used to calculate basic and diluted earnings per share. The Company applies the two-class method in computing both basic and diluted earnings per share, which requires the calculation of separate earnings per share amounts for common stock and unvested share-based awards. Unvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock.


	Three months ended June 30,
	2019						2018
	Common shareholders		Unvested restricted stock shareholders	Total	Common shareholders	Unvested restricted stock shareholders	Total
Numerator:
Net income attributable to Nelnet, Inc.	$	24,292	327	24,619	48,860	575	49,435

Denominator:
Weighted-average common shares outstanding - basic and diluted	39,518,652		531,413	40,050,065	40,411,359	475,258	40,886,617
Earnings per share - basic and diluted	$	0.61	0.61	0.61	1.21	1.21	1.21


	Six months ended June 30,
	2019						2018
	Common shareholders		Unvested restricted stock shareholders	Total	Common shareholders	Unvested restricted stock shareholders	Total
Numerator:
Net income attributable to Nelnet, Inc.	$	65,346	864	66,210	161,594	1,765	163,359

Denominator:
Weighted-average common shares outstanding - basic and diluted	39,685,958		524,829	40,210,787	40,476,254	442,142	40,918,396
Earnings per share - basic and diluted	$	1.65	1.65	1.65	3.99	3.99	3.99

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables include the results of each of the Company's operating segments reconciled to the consolidated financial statements.


	Three months ended June 30, 2019
	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Asset Generation and Management	Corporate and Other Activities	Eliminations	Total
Total interest income	$	550	1,659	1	243,295	2,258	(974)	246,788
Interest expense	19		11	—	184,035	3,872	(974)	186,963
Net interest income (expense)	531		1,648	1	59,260	(1,614)	—	59,825
Less provision for loan losses	—		—	—	9,000	—	—	9,000
Net interest income (loss) after provision for loan losses	531		1,648	1	50,260	(1,614)	—	50,825
Other income:
Loan servicing and systems revenue	113,985		—	—	—	—	—	113,985
Intersegment servicing revenue	11,598		—	—	—	—	(11,598)	—
Education technology, services, and payment processing revenue	—		60,342	—	—	—	—	60,342
Communications revenue	—		—	15,758	—	—	—	15,758
Other income	2,277		—	362	4,888	8,624	—	16,152

Derivative settlements, net	—		—	—	12,972	—	—	12,972
Derivative market value adjustments, net	—		—	—	(37,060)	—	—	(37,060)
Total other income	127,860		60,342	16,120	(19,200)	8,624	(11,598)	182,149
Cost of services:
Cost to provide education technology, services, and payment processing services	—		15,871	—	—	—	—	15,871
Cost to provide communications services	—		—	5,101	—	—	—	5,101
Total cost of services	—		15,871	5,101	—	—	—	20,972
Operating expenses:
Salaries and benefits	66,496		22,823	5,192	382	16,321	—	111,214
Depreciation and amortization	8,799		3,324	7,737	—	4,623	—	24,484
Loan servicing fees to third parties	—		—	—	3,156	—	—	3,156
Other expenses	17,118		5,805	3,865	3,051	12,423	—	42,261
Intersegment expenses, net	13,604		3,148	716	11,665	(17,535)	(11,598)	—
Total operating expenses	106,017		35,100	17,510	18,254	15,832	(11,598)	181,115
Income (loss) before income taxes	22,374		11,019	(6,490)	12,806	(8,822)	—	30,887
Income tax (expense) benefit	(5,370)		(2,645)	1,558	(3,074)	3,321	—	(6,209)
Net income (loss)	17,004		8,374	(4,932)	9,732	(5,501)	—	24,678
Net income attributable to noncontrolling interests	—		—	—	—	(59)	—	(59)
Net income (loss) attributable to Nelnet, Inc.	$	17,004	8,374	(4,932)	9,732	(5,560)	—	24,619

Total assets as of June 30, 2019	$	267,611	336,896	302,873	22,907,234	595,623	(190,437)	24,219,800


	Three months ended June 30, 2018
	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Asset Generation and Management	Corporate and Other Activities	Eliminations	Total
Total interest income	$	293	748	1	226,509	6,062	(4,425)	229,189
Interest expense	—		—	3,303	169,623	2,949	(4,425)	171,450
Net interest income (expense)	293		748	(3,302)	56,886	3,113	—	57,739
Less provision for loan losses	—		—	—	3,500	—	—	3,500
Net interest income (loss) after provision for loan losses	293		748	(3,302)	53,386	3,113	—	54,239
Other income:
Loan servicing and systems revenue	114,545		—	—	—	—	—	114,545
Intersegment servicing revenue	11,609		—	—	—	—	(11,609)	—
Education technology, services, and payment processing revenue	—		48,742	—	—	—	—	48,742
Communications revenue	—		—	10,320	—	—	—	10,320
Other income	1,956		—	—	2,772	4,851	—	9,580

Derivative settlements, net	—		—	—	22,053	(125)	—	21,928
Derivative market value adjustments, net	—		—	—	(5,446)	548	—	(4,897)
Total other income	128,110		48,742	10,320	19,379	5,274	(11,609)	200,218
Cost of services:
Cost to provide education technology, services, and payment processing services	—		11,317	—	—	—	—	11,317
Cost to provide communications services	—		—	3,865	—	—	—	3,865
Total cost of services	—		11,317	3,865	—	—	—	15,182
Operating expenses:
Salaries and benefits	69,434		19,513	4,668	377	17,126	—	111,118
Depreciation and amortization	8,212		3,286	5,497	—	4,500	—	21,494
Loan servicing fees to third parties	—		—	—	3,204	—	—	3,204
Other expenses	17,490		5,383	3,023	1,288	13,225	—	40,409
Intersegment expenses, net	15,583		2,570	599	11,700	(18,842)	(11,609)	—
Total operating expenses	110,719		30,752	13,787	16,569	16,009	(11,609)	176,225
Income (loss) before income taxes	17,684		7,421	(10,634)	56,196	(7,622)	—	63,050
Income tax (expense) benefit	(4,245)		(1,781)	2,552	(13,487)	3,451	—	(13,511)
Net income (loss)	13,439		5,640	(8,082)	42,709	(4,171)	—	49,539
Net income attributable to noncontrolling interests	—		—	—	—	(104)	—	(104)
Net income (loss) attributable to Nelnet, Inc.	$	13,439	5,640	(8,082)	42,709	(4,275)	—	49,435

Total assets as of June 30, 2018	$	253,140	235,128	252,311	24,092,875	774,086	(398,297)	25,209,244


	Six months ended June 30, 2019
	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Asset Generation and Management	Corporate and Other Activities	Eliminations	Total
Total interest income	$	1,047	3,676	3	490,162	4,310	(1,824)	497,374
Interest expense	19		19	—	372,834	7,685	(1,824)	378,733
Net interest income (expense)	1,028		3,657	3	117,328	(3,375)	—	118,641
Less provision for loan losses	—		—	—	16,000	—	—	16,000
Net interest income (loss) after provision for loan losses	1,028		3,657	3	101,328	(3,375)	—	102,641
Other income:
Loan servicing and systems revenue	228,883		—	—	—	—	—	228,883
Intersegment servicing revenue	23,815		—	—	—	—	(23,815)	—
Education technology, services, and payment processing revenue	—		139,502	—	—	—	—	139,502
Communications revenue	—		—	30,300	—	—	—	30,300
Other income	4,350		—	487	8,413	11,969	—	25,219

Derivative settlements, net	—		—	—	32,007	—	—	32,007
Derivative market value adjustments, net	—		—	—	(67,635)	—	—	(67,635)
Total other income	257,048		139,502	30,787	(27,215)	11,969	(23,815)	388,276
Cost of services:
Cost to provide education technology, services, and payment processing services	—		36,930	—	—	—	—	36,930
Cost to provide communications services	—		—	9,860	—	—	—	9,860
Total cost of services	—		36,930	9,860	—	—	—	46,790
Operating expenses:
Salaries and benefits	132,715		45,830	9,929	760	33,038	—	222,272
Depreciation and amortization	17,671		6,835	15,099	—	9,093	—	48,697
Loan servicing fees to third parties	—		—	—	6,049	—	—	6,049
Other expenses	36,047		11,116	7,342	3,995	24,685	—	83,184
Intersegment expenses, net	27,362		6,447	1,380	23,952	(35,326)	(23,815)	—
Total operating expenses	213,795		70,228	33,750	34,756	31,490	(23,815)	360,202
Income (loss) before income taxes	44,281		36,001	(12,820)	39,357	(22,896)	—	83,925
Income tax (expense) benefit	(10,628)		(8,640)	3,077	(9,446)	8,037	—	(17,600)
Net income (loss)	33,653		27,361	(9,743)	29,911	(14,859)	—	66,325
Net loss (income) attributable to noncontrolling interests	—		—	—	—	(115)	—	(115)
Net income (loss) attributable to Nelnet, Inc.	$	33,653	27,361	(9,743)	29,911	(14,974)	—	66,210

Total assets as of June 30, 2019	$	267,611	336,896	302,873	22,907,234	595,623	(190,437)	24,219,800


	Six months ended June 30, 2018
	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Asset Generation and Management	Corporate and Other Activities	Eliminations	Total
Total interest income	$	550	1,413	2	426,843	10,813	(7,574)	432,046
Interest expense	—		—	5,812	303,854	4,907	(7,574)	306,999
Net interest income (expense)	550		1,413	(5,810)	122,989	5,906	—	125,047
Less provision for loan losses	—		—	—	7,500	—	—	7,500
Net interest income (loss) after provision for loan losses	550		1,413	(5,810)	115,489	5,906	—	117,547
Other income:
Loan servicing and systems revenue	214,687		—	—	—	—	—	214,687
Intersegment servicing revenue	22,380		—	—	—	—	(22,380)	—
Education technology, services, and payment processing revenue	—		108,963	—	—	—	—	108,963
Communications revenue	—		—	19,509	—	—	—	19,509
Other income	3,248		—	—	6,124	18,765	—	28,135

Derivative settlements, net	—		—	—	28,979	(285)	—	28,694
Derivative market value adjustments, net	—		—	—	53,125	2,010	—	55,135
Total other income	240,315		108,963	19,509	88,228	20,490	(22,380)	455,123
Cost of services:
Cost to provide education technology, services, and payment processing services	—		25,000	—	—	—	—	25,000
Cost to provide communications services	—		—	7,583	—	—	—	7,583
Total cost of services	—		25,000	7,583	—	—	—	32,583
Operating expenses:
Salaries and benefits	127,971		38,580	8,730	759	31,720	—	207,760
Depreciation and amortization	14,280		6,627	10,418	—	8,626	—	39,951
Loan servicing fees to third parties	—		—	—	6,341	—	—	6,341
Other expenses	31,953		10,006	5,660	2,137	24,070	—	73,826
Intersegment expenses, net	28,939		5,136	1,204	22,565	(35,464)	(22,380)	—
Total operating expenses	203,143		60,349	26,012	31,802	28,952	(22,380)	327,878
Income (loss) before income taxes	37,722		25,027	(19,896)	171,915	(2,556)	—	212,209
Income tax (expense) benefit	(9,247)		(6,006)	4,775	(41,260)	2,251	—	(49,487)
Net income (loss)	28,475		19,021	(15,121)	130,655	(305)	—	162,722
Net loss (income) attributable to noncontrolling interests	808		—	—	—	(172)	—	637
Net income (loss) attributable to Nelnet, Inc.	$	29,283	19,021	(15,121)	130,655	(477)	—	163,359

Total assets as of June 30, 2018	$	253,140	235,128	252,311	24,092,875	774,086	(398,297)	25,209,244

Disaggregated Revenue and Deferred Revenue (Tables)

6 Months Ended

Jun. 30, 2019

Disaggregation of Revenue [Line Items]

Schedule of Other Income, by Component

The following table provides the components of "other income" on the consolidated statements of income:


	Three months ended June 30,				Six months ended June 30,
	2019		2018	2019	2018
Gain (loss) on investments and notes receivable, net	$	4,258	(901)	3,831	7,787
Borrower late fee income	3,161		2,758	6,674	5,741
Management fee revenue	2,051		1,756	3,923	2,917
Gain on sale of loans	1,712		—	1,712	—
Investment advisory fees	731		1,394	1,441	2,986
Other	4,239		4,573	7,638	8,704
Other income	$	16,152	9,580	25,219	28,135

Schedule of Liabilities from Contracts with Customers

Activity in the deferred revenue balance, which is included in "other liabilities" on the consolidated balance sheets, is shown below:


	Three months ended June 30, 2019
	Loan Servicing and Systems		Education Technology, Services, and Payment Processing	Communications	Corporate and Other Activities	Total
Balance, beginning of period	$	3,947	18,498	2,756	1,552	26,753
Deferral of revenue	764		24,770	8,798	841	35,173
Recognition of revenue	(1,396)		(21,779)	(8,474)	(782)	(32,431)

Balance, end of period	$	3,315	21,489	3,080	1,611	29,495

	Three months ended June 30, 2018
Balance, beginning of period	$	4,172	15,248	1,827	1,468	22,715
Deferral of revenue	711		20,913	5,974	1,457	29,055
Recognition of revenue	(1,112)		(18,172)	(5,652)	(1,176)	(26,112)

Balance, end of period	$	3,771	17,989	2,149	1,749	25,658

	Six months ended June 30, 2019
Balance, beginning of period	$	4,413	30,556	2,551	1,602	39,122
Deferral of revenue	1,880		38,732	17,064	1,577	59,253
Recognition of revenue	(2,978)		(47,799)	(16,535)	(1,568)	(68,880)
Balance, end of period	$	3,315	21,489	3,080	1,611	29,495

	Six months ended June 30, 2018
Balance, beginning of period	$	4,968	24,164	1,665	1,479	32,276
Deferral of revenue	964		31,688	11,349	2,105	46,106
Recognition of revenue	(2,161)		(37,863)	(10,865)	(1,835)	(52,724)

Balance, end of period	$	3,771	17,989	2,149	1,749	25,658

Loan Servicing and Systems

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

Loan Servicing and Systems


	Three months ended June 30,				Six months ended June 30,
	2019		2018	2019	2018
Government servicing - Nelnet	$	40,459	39,781	80,099	79,107
Government servicing - Great Lakes	45,973		45,682	93,050	76,437
Private education and consumer loan servicing	8,985		8,882	18,465	21,983
FFELP servicing	6,424		9,147	13,119	16,838
Software services	10,021		8,671	19,762	16,260
Outsourced services and other	2,123		2,382	4,388	4,062
Loan servicing and systems revenue	$	113,985	114,545	228,883	214,687

Education Technology, Services, and Payment Processing

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

Education Technology, Services, and Payment Processing


	Three months ended June 30,				Six months ended June 30,
	2019		2018	2019	2018
Tuition payment plan services	$	24,655	20,417	54,829	43,404
Payment processing	21,311		16,026	50,290	35,952
Education technology and services	14,096		12,018	33,805	28,993
Other	280		281	578	614
Education technology, services, and payment processing revenue	$	60,342	48,742	139,502	108,963

Communications

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

Communications


	Three months ended June 30,				Six months ended June 30,
	2019		2018	2019	2018
Internet	$	9,297	5,387	17,726	10,086
Television	4,050		3,086	7,939	5,872
Telephone	2,395		1,827	4,575	3,512
Other	16		20	60	39
Communications revenue	$	15,758	10,320	30,300	19,509

Residential revenue	$	11,890	7,727	22,955	14,472
Business revenue	3,816		2,535	7,230	4,917
Other	52		58	115	120
Communications revenue	$	15,758	10,320	30,300	19,509

Fair Value (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present the Company’s financial assets and liabilities that are measured at fair value on a recurring basis.


	As of June 30, 2019						As of December 31, 2018
	Level 1		Level 2	Total	Level 1	Level 2		Total
Assets:
Investments:
Student loan and other asset-backed securities - available-for-sale	$	—	52,782	52,782	—	52,936		52,936
Equity securities	3,271		—	3,271	2,722	—		2,722
Equity securities measured at net asset value (a)				14,827				14,925
Debt securities - available-for-sale	103		—	103	104	—		104
Total investments	3,374		52,782	70,983	2,826	52,936		70,687
Derivative instruments	—		230	230	—	1,818		1,818
Total assets	$	3,374	53,012	71,213	2,826	54,754		72,505

(a) In accordance with the Fair Value Measurements Topic of the FASB Accounting Standards Codification, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

Fair Value, by Balance Sheet Grouping

The following table summarizes the fair values of all of the Company’s financial instruments on the consolidated balance sheets:


	As of June 30, 2019
	Fair value		Carrying value	Level 1	Level 2	Level 3
Financial assets:
Loans receivable	$	22,152,953	21,455,758	—	—	22,152,953
Cash and cash equivalents	84,400		84,400	84,400	—	—
Investments (at fair value)	70,983		70,983	3,374	52,782	—
Beneficial interest in consumer loan securitization	6,953		6,953	—	—	6,953
Restricted cash	690,580		690,580	690,580	—	—
Restricted cash – due to customers	279,017		279,017	279,017	—	—

Accrued interest receivable	724,011		724,011	—	724,011	—
Derivative instruments	230		230	—	230	—
Financial liabilities:
Bonds and notes payable	21,077,894		21,294,192	—	21,077,894	—
Accrued interest payable	56,471		56,471	—	56,471	—
Due to customers	279,017		279,017	279,017	—	—


	As of December 31, 2018
	Fair value		Carrying value	Level 1	Level 2	Level 3
Financial assets:
Loans receivable	$	23,521,171	22,377,142	—	—	23,521,171
Cash and cash equivalents	121,347		121,347	121,347	—	—
Investments (at fair value)	70,687		70,687	2,826	52,936	—
Notes receivable	16,373		16,373	—	16,373	—
Restricted cash	701,366		701,366	701,366	—	—
Restricted cash – due to customers	369,678		369,678	369,678	—	—

Accrued interest receivable	679,197		679,197	—	679,197	—
Derivative instruments	1,818		1,818	—	1,818	—
Financial liabilities:
Bonds and notes payable	22,270,462		22,218,740	—	22,270,462	—
Accrued interest payable	61,679		61,679	—	61,679	—
Due to customers	369,678		369,678	369,678	—	—

Basis of Financial Reporting - Narrative (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability		$ 32,753
Right of use asset		31,822
Total assets deconsolidated		24,219,800	$ 25,220,968	$ 25,209,244
Total liabilities deconsolidated		$ 21,893,182	$ 22,906,189
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability	$ 33,700
Right of use asset	32,800
Failed Sale-Leaseback Transaction \| Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total assets deconsolidated	43,800
Total liabilities deconsolidated	34,800
Reduction to noncontrolling interest	$ 6,100

Basis of Presentation - Schedule of ASU 842 Adoption Impact (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Assets:
Cash and cash equivalents	$ 84,400	$ 120,701	$ 121,347	$ 67,867	$ 66,752
Investments and notes receivable	221,936	226,236	249,370
Accounts receivable	65,414	59,442	59,531
Property and equipment, net	337,418	327,810	344,784
Other assets	106,647	78,337	45,533
Liabilities:
Bonds and notes payable	21,294,192	22,185,558	22,218,740
Other liabilities	263,502	287,312	256,092
Equity:
Noncontrolling interests	$ 4,292	4,238	$ 10,315
Accounting Standards Update 2016-02
Assets:
Cash and cash equivalents		(646)
Investments and notes receivable		(23,134)
Accounts receivable		(89)
Property and equipment, net		(16,974)
Other assets		32,804
Liabilities:
Bonds and notes payable		(33,182)
Other liabilities		31,220
Equity:
Noncontrolling interests		$ (6,077)

Basis of Financial Reporting - Lease Assets and Liabilities (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating lease ROU assets, which is included in "other assets" on the consolidated balance sheet	$ 31,822
Operating lease liabilities, which is included in "other liabilities" on the consolidated balance sheet	$ 32,753

Basis of Financial Reporting - Lease Costs, Cash Flows and Weighted Average Remaining Lease Term (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)
Lessee, Lease, Description [Line Items]
Total operating rental expense	$ 3,336	$ 6,210
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows related to operating leases		4,792
Supplemental noncash activity:
Operating ROU assets obtained in exchange for lease obligations, excluding impact of adoption		$ 3,298
Weighted average remaining lease term	6 years 7 days	6 years 7 days
Weighted average discount rate	4.00%	4.00%
Rental expense, which is included in "other expenses" on the consolidated statement of income
Lessee, Lease, Description [Line Items]
Total operating rental expense	$ 2,705	$ 5,500
Rental expense, which is included in "cost to provide communications services" on the consolidated statements of income (a)
Lessee, Lease, Description [Line Items]
Total operating rental expense	$ 631	$ 710

Basis of Financial Reporting - Lease Liability Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Operating Lease Liabilities, Payments Due [Abstract]
2019 (July 1 - December 31)	$ 4,979
2020	8,864
2021	6,352
2022	4,229
2023	3,395
2024 and thereafter	9,187
Total lease payments	37,006
Imputed interest	(4,253)
Total	$ 32,753
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2019		$ 9,181
2020		8,261
2021		5,776
2022		3,745
2023		2,904
2024 and thereafter		5,479
Total minimum lease payments		$ 35,346

Loans Receivable and Allowance for Loan Losses - Loans Receivable (Details) - USD ($) $ in Thousands	May 01, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		$ 21,590,836		$ 22,520,498
Loan discount, net of unamortized loan premiums and deferred origination costs		(38,952)		(53,572)
Allowance for loan losses		(62,591)	$ (61,778)	(60,388)	$ (53,715)	$ (55,294)	$ (54,590)
Loans receivable		21,455,758		22,377,142
Non-accretable discount
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan discount, net of unamortized loan premiums and deferred origination costs		(33,535)		(29,396)
Federally insured loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		21,154,132		22,155,896
Allowance for loan losses		(39,056)	(40,934)	(42,310)	(37,263)	(38,374)	(38,706)
Federally insured loans \| Stafford and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		4,804,295		4,969,667
Federally insured loans \| Consolidation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		16,349,837		17,186,229
Private education loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		198,752		225,975
Allowance for loan losses		(10,157)	(10,587)	(10,838)	(11,664)	(12,255)	(12,629)
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		237,952		138,627
Allowance for loan losses		$ (13,378)	$ (10,257)	$ (7,240)	$ (4,788)	$ (4,665)	$ (3,255)
Consumer loans \| Financing receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans sold (par value)	$ 47,700
Gain on sale of loan	$ 1,700
Beneficial interest received as partial consideration	11.00%

Loans Receivable and Allowance for Loan Losses - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	$ 61,778	$ 55,294	$ 60,388	$ 54,590
Provision for loan losses	9,000	3,500	16,000	7,500
Charge-offs	(7,118)	(5,262)	(12,982)	(9,728)
Recoveries	431	183	685	353
Loan sale and other	(1,500)	0	(1,500)	1,000
Balance at end of period	62,591	53,715	62,591	53,715
Federally insured loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	40,934	38,374	42,310	38,706
Provision for loan losses	2,000	2,000	4,000	4,000
Charge-offs	(3,878)	(3,111)	(7,254)	(6,443)
Recoveries	0	0	0	0
Loan sale and other	0	0	0	1,000
Balance at end of period	39,056	37,263	39,056	37,263
Private education loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	10,587	12,255	10,838	12,629
Provision for loan losses	0	0	0	0
Charge-offs	(588)	(773)	(1,070)	(1,312)
Recoveries	158	182	389	347
Loan sale and other	0	0	0	0
Balance at end of period	10,157	11,664	10,157	11,664
Consumer loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	10,257	4,665	7,240	3,255
Provision for loan losses	7,000	1,500	12,000	3,500
Charge-offs	(2,652)	(1,378)	(4,658)	(1,973)
Recoveries	273	1	296	6
Loan sale and other	(1,500)	0	(1,500)	0
Balance at end of period	$ 13,378	$ 4,788	$ 13,378	$ 4,788

Loans Receivable and Allowance for Loan Losses - Student Loan Status and Delinquency (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Loans in repayment status:
Total loans	$ 21,590,836	$ 22,520,498
Federally insured loans
Loans in repayment status:
Total loans	21,154,132	22,155,896
Federally insured loans \| Federally insured loans:
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	1,222,021	1,298,493	$ 1,349,739
Loans in forbearance	1,420,120	1,430,291	1,633,600
Loans in repayment status:
Loans current	16,055,368	16,882,252	17,211,088
Total loans in repayment	$ 18,511,991	$ 19,427,112	$ 19,611,451
Loans current, percentage	86.70%	86.90%	87.80%
Total loans in repayment, percentage	100.00%	100.00%	100.00%
Total loans	$ 21,154,132	$ 22,155,896	$ 22,594,790
Federally insured loans \| Loans delinquent 31-60 days \| Federally insured loans:
Loans in repayment status:
Loans past due	$ 677,113	$ 683,084	$ 686,083
Loans past due, percentage	3.70%	3.50%	3.50%
Federally insured loans \| Loans delinquent 61-90 days \| Federally insured loans:
Loans in repayment status:
Loans past due	$ 443,988	$ 427,764	$ 500,480
Loans past due, percentage	2.40%	2.20%	2.60%
Federally insured loans \| Loans delinquent 91-120 days \| Federally insured loans:
Loans in repayment status:
Loans past due	$ 269,688	$ 283,831	$ 261,612
Loans past due, percentage	1.50%	1.50%	1.30%
Federally insured loans \| Loans delinquent 121-270 days \| Federally insured loans:
Loans in repayment status:
Loans past due	$ 755,093	$ 806,692	$ 751,526
Loans past due, percentage	4.10%	4.20%	3.80%
Federally insured loans \| Loans delinquent 271 days or greater \| Federally insured loans:
Loans in repayment status:
Loans past due	$ 310,741	$ 343,489	$ 200,662
Loans past due, percentage	1.60%	1.70%	1.00%
Private education loans
Loans in repayment status:
Total loans	$ 198,752	$ 225,975
Private education loans \| Private education loans:
Financing Receivable, Recorded Investment [Line Items]
Loans in-school/grace/deferment	3,912	4,320	$ 4,194
Loans in forbearance	1,143	1,494	2,012
Loans in repayment status:
Loans current	183,414	208,977	168,093
Total loans in repayment	$ 193,697	$ 220,161	$ 174,729
Loans current, percentage	94.70%	95.00%	96.20%
Total loans in repayment, percentage	100.00%	100.00%	100.00%
Total loans	$ 198,752	$ 225,975	$ 180,935
Private education loans \| Loans delinquent 31-60 days \| Private education loans:
Loans in repayment status:
Loans past due	$ 3,491	$ 3,626	$ 1,498
Loans past due, percentage	1.80%	1.60%	0.90%
Private education loans \| Loans delinquent 61-90 days \| Private education loans:
Loans in repayment status:
Loans past due	$ 1,658	$ 1,560	$ 1,235
Loans past due, percentage	0.90%	0.70%	0.70%
Private education loans \| Loans delinquent 91 days or greater \| Private education loans:
Loans in repayment status:
Loans past due	$ 5,134	$ 5,998	$ 3,903
Loans past due, percentage	2.60%	2.70%	2.20%
Consumer loans
Loans in repayment status:
Total loans	$ 237,952	$ 138,627
Consumer loans \| Consumer loans:
Loans in repayment status:
Loans current	234,944	136,130	$ 76,401
Total loans in repayment	$ 237,952	$ 138,627	$ 77,855
Loans current, percentage	98.80%	98.20%	98.10%
Total loans in repayment, percentage	100.00%	100.00%	100.00%
Total loans	$ 237,952	$ 138,627	$ 77,855
Consumer loans \| Loans delinquent 31-60 days \| Consumer loans:
Loans in repayment status:
Loans past due	$ 1,254	$ 1,012	$ 748
Loans past due, percentage	0.50%	0.70%	1.00%
Consumer loans \| Loans delinquent 61-90 days \| Consumer loans:
Loans in repayment status:
Loans past due	$ 824	$ 832	$ 369
Loans past due, percentage	0.30%	0.60%	0.50%
Consumer loans \| Loans delinquent 91 days or greater \| Consumer loans:
Loans in repayment status:
Loans past due	$ 930	$ 653	$ 337
Loans past due, percentage	0.40%	0.50%	0.40%

Bonds and Notes Payable - Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Bonds and notes payable	$ 21,294,192	$ 22,185,558	$ 22,218,740
Discount on bonds and notes payable and debt issuance costs	(293,676)		(318,359)
Warehouse facilities \| FFELP warehouse facilities
Debt Instrument [Line Items]
Bonds and notes payable	777,263		986,886
Unsecured line of credit
Debt Instrument [Line Items]
Bonds and notes payable	260,000		310,000
Unsecured debt - Junior Subordinated Hybrid Securities
Debt Instrument [Line Items]
Bonds and notes payable	$ 20,381		$ 20,381
Interest rate range	5.97%		6.17%
Other borrowings
Debt Instrument [Line Items]
Bonds and notes payable	$ 45,585		$ 120,342
Bonds and notes payable, gross
Debt Instrument [Line Items]
Bonds and notes payable	21,587,868		22,537,099
Federally insured \| Bonds and notes based on indices
Debt Instrument [Line Items]
Bonds and notes payable	19,439,363		20,192,123
Federally insured \| Bonds and notes based on auction
Debt Instrument [Line Items]
Bonds and notes payable	782,076		793,476
Federally insured \| Variable-rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable	20,221,439		20,985,599
Consumer loan \| Warehouse facilities
Debt Instrument [Line Items]
Bonds and notes payable	$ 117,127
Interest rate range	4.24%
Private education \| Variable-rate bonds and notes
Debt Instrument [Line Items]
Bonds and notes payable	$ 89,612		$ 50,720
Interest rate range			4.26%
Private education \| Fixed-rate bonds and notes issued in private education loan asset-backed securitization
Debt Instrument [Line Items]
Bonds and notes payable	$ 56,461		$ 63,171
Minimum \| Warehouse facilities \| FFELP warehouse facilities
Debt Instrument [Line Items]
Interest rate range	2.57%		2.65%
Minimum \| Unsecured line of credit
Debt Instrument [Line Items]
Interest rate range	3.88%		3.92%
Minimum \| Other borrowings
Debt Instrument [Line Items]
Interest rate range	3.14%		3.05%
Minimum \| Federally insured \| Bonds and notes based on indices
Debt Instrument [Line Items]
Interest rate range	2.44%		2.59%
Minimum \| Federally insured \| Bonds and notes based on auction
Debt Instrument [Line Items]
Interest rate range	3.34%		2.84%
Minimum \| Private education \| Variable-rate bonds and notes
Debt Instrument [Line Items]
Interest rate range	3.90%
Minimum \| Private education \| Fixed-rate bonds and notes issued in private education loan asset-backed securitization
Debt Instrument [Line Items]
Interest rate range	3.60%		3.60%
Maximum \| Warehouse facilities \| FFELP warehouse facilities
Debt Instrument [Line Items]
Interest rate range	2.62%		2.71%
Maximum \| Unsecured line of credit
Debt Instrument [Line Items]
Interest rate range	3.93%		4.01%
Maximum \| Other borrowings
Debt Instrument [Line Items]
Interest rate range	4.19%		5.22%
Maximum \| Federally insured \| Bonds and notes based on indices
Debt Instrument [Line Items]
Interest rate range	4.17%		4.52%
Maximum \| Federally insured \| Bonds and notes based on auction
Debt Instrument [Line Items]
Interest rate range	3.84%		3.55%
Maximum \| Private education \| Variable-rate bonds and notes
Debt Instrument [Line Items]
Interest rate range	4.15%
Maximum \| Private education \| Fixed-rate bonds and notes issued in private education loan asset-backed securitization
Debt Instrument [Line Items]
Interest rate range	5.35%		5.35%

Bonds and Notes Payable - Outstanding Lines of Credit (Details) - FFELP warehouse facilities - Warehouse facilities - USD ($)	Jun. 30, 2019	Mar. 08, 2019
Line of Credit Facility [Line Items]
Maximum financing amount	$ 1,000,000,000
Amount outstanding	777,263,000
Amount available	222,737,000
Advanced as equity support	49,319,000
NFSLW-I
Line of Credit Facility [Line Items]
Maximum financing amount	500,000,000	$ 500,000,000
Amount outstanding	414,870,000
Amount available	85,130,000
Advanced as equity support	21,661,000
NHELP-II
Line of Credit Facility [Line Items]
Maximum financing amount	500,000,000
Amount outstanding	362,393,000
Amount available	137,607,000
Advanced as equity support	$ 27,658,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Bonds and Notes Payable - Schedule of Asset-Backed Securitizations (Details)	6 Months Ended
	Jun. 30, 2019 USD ($)
Secured debt
Debt Instrument [Line Items]
Total principal amount issued	$ 960,059,000
2019-1 \| Secured debt
Debt Instrument [Line Items]
Total principal amount issued	496,800,000
2019-1, Class A Notes \| Senior notes
Debt Instrument [Line Items]
Total principal amount issued	483,700,000
2019-1, Class A-1 Notes \| Senior notes
Debt Instrument [Line Items]
Total principal amount issued	$ 35,700,000
2019-1, Class A-1 Notes \| Senior notes \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable interest rate	0.30%
2019-1, Class A-1 Notes \| Secured debt
Debt Instrument [Line Items]
Total principal amount issued	$ 35,700,000
2019-1, Class A-2 Notes \| Senior notes
Debt Instrument [Line Items]
Total principal amount issued	$ 448,000,000
2019-1, Class A-2 Notes \| Senior notes \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable interest rate	0.75%
2019-1, Class A-2 Notes \| Secured debt
Debt Instrument [Line Items]
Total principal amount issued	$ 448,000,000
2019-1, Class B Notes \| Subordinated debt
Debt Instrument [Line Items]
Total principal amount issued	$ 13,100,000
2019-1, Class B Notes \| Subordinated debt \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable interest rate	1.40%
2019-2 \| Secured debt
Debt Instrument [Line Items]
Total principal amount issued	$ 416,100,000
2019-2, Class A Notes \| Senior notes
Debt Instrument [Line Items]
Total principal amount issued	$ 405,000,000
2019-2, Class A Notes \| Senior notes \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable interest rate	0.90%
2019-2, Class B Notes \| Subordinated debt
Debt Instrument [Line Items]
Total principal amount issued	$ 11,100,000
2019-2, Class B Notes \| Subordinated debt \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable interest rate	1.50%
Private education loan 2019-A \| Senior notes
Debt Instrument [Line Items]
Total principal amount issued	$ 47,159,000
Private education loan 2019-A \| Senior notes \| Prime Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate	1.60%
Private education loan 2019-A \| Secured debt
Debt Instrument [Line Items]
Total principal amount issued	$ 47,159,000
2019 Class A \| Senior notes
Debt Instrument [Line Items]
Total principal amount issued	935,859,000
2019 Class B \| Subordinated debt
Debt Instrument [Line Items]
Total principal amount issued	$ 24,200,000

Bonds and Notes Payable - Narrative (Details) - USD ($)				3 Months Ended	6 Months Ended
Bonds and Notes Payable - Narrative (Details) - USD ($)	Jun. 07, 2019	May 30, 2019	Jan. 11, 2019	Sep. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Apr. 25, 2019	Jan. 01, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Payment of premium to extinguish debt					$ 1,394,000	$ 0
Loss on extinguishment of debt					1,801,000	$ 0
Unsecured Line of Credit
Debt Instrument [Line Items]
Maximum financing amount					382,500,000
Amount outstanding					260,000,000.0
Amount available					122,500,000
Higher borrowing capacity option					400,000,000.0
FFELP Asset-Backed Security Investment
Debt Instrument [Line Items]
Other borrowings subject to repurchase agreement					40,600,000				$ 41,400,000
Private education loans
Debt Instrument [Line Items]
Other borrowings subject to repurchase agreement									$ 45,000,000.0
Secured Line Of Credit Maturing May 2022
Debt Instrument [Line Items]
Maximum financing amount		$ 22,000,000.0
Amount outstanding					5,000,000.0
Amount available					17,000,000.0
Secured Line Of Credit Maturing May 2022 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable interest rate		1.75%
Asset-backed securities
Debt Instrument [Line Items]
Amount of debt extinguished	$ 93,000,000.0
Payment of premium to extinguish debt	1,400,000
Write off of debt issuance costs	400,000
Loss on extinguishment of debt	$ 1,800,000
Asset-backed securities \| Scenario, Forecast
Debt Instrument [Line Items]
Amount of debt extinguished				$ 579,000,000
Payment of premium to extinguish debt				13,000,000
Write off of debt issuance costs				2,000,000
Loss on extinguishment of debt				$ 15,000,000
Warehouse facilities \| Consumer Loan Warehouse Facility
Debt Instrument [Line Items]
Maximum financing amount			$ 100,000,000.0				$ 200,000,000.0
Amount outstanding					117,100,000
Amount available					82,900,000
Advanced as equity support					$ 41,300,000
Minimum \| Warehouse facilities \| Consumer Loan Warehouse Facility
Debt Instrument [Line Items]
Advance rate			70.00%
Maximum \| Warehouse facilities \| Consumer Loan Warehouse Facility
Debt Instrument [Line Items]
Advance rate			75.00%
Accounting Standards Update 2016-02
Debt Instrument [Line Items]
Debt unconsolidated								$ 33,900,000
Partnerships For Certain Real Estate Development Projects
Debt Instrument [Line Items]
Noncontrolling interest ownership percentage					50.00%

Derivative Financial Instruments - Schedule of Basis Swap (Details) - 1:3 basis swaps - USD ($)	Aug. 08, 2019	Jun. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Notional amount		$ 9,000,000,000	$ 10,000,000,000
2019
Derivative [Line Items]
Notional amount		1,000,000,000	3,500,000,000
2020
Derivative [Line Items]
Notional amount		1,000,000,000	1,000,000,000
2021
Derivative [Line Items]
Notional amount		250,000,000	250,000,000
2022
Derivative [Line Items]
Notional amount		2,000,000,000	2,000,000,000
Effective Start Date May 2020
Derivative [Line Items]
Notional amount		750,000,000
2023
Derivative [Line Items]
Notional amount		750,000,000	750,000,000
2024
Derivative [Line Items]
Notional amount		1,750,000,000	250,000,000
2026
Derivative [Line Items]
Notional amount		1,150,000,000	1,150,000,000
2027
Derivative [Line Items]
Notional amount		375,000,000	375,000,000
2027 \| Subsequent event
Derivative [Line Items]
Notional amount, terminated	$ 125,000,000
2028
Derivative [Line Items]
Notional amount		325,000,000	325,000,000
2028 \| Subsequent event
Derivative [Line Items]
Notional amount, terminated	325,000,000
2029
Derivative [Line Items]
Notional amount		100,000,000	100,000,000
2029 \| Subsequent event
Derivative [Line Items]
Notional amount, terminated	100,000,000
2031
Derivative [Line Items]
Notional amount		$ 300,000,000	$ 300,000,000
2031 \| Subsequent event
Derivative [Line Items]
Notional amount, terminated	$ 300,000,000

Derivative Financial Instruments - Schedule of Interest Rate Swaps, Floor Income Hedge (Details) - Interest rate swaps - floor income hedges - Interest rate swap - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Notional amount	$ 3,700,000,000	$ 5,575,000,000
Weighted average fixed rate paid by the Company	1.53%	1.18%
2019
Derivative [Line Items]
Notional amount	$ 500,000,000	$ 3,250,000,000
Weighted average fixed rate paid by the Company	1.12%	0.97%
2020
Derivative [Line Items]
Notional amount	$ 1,500,000,000	$ 1,500,000,000
Weighted average fixed rate paid by the Company	1.01%	1.01%
2021
Derivative [Line Items]
Notional amount	$ 600,000,000	$ 100,000,000
Weighted average fixed rate paid by the Company	2.15%	2.95%
2022
Derivative [Line Items]
Notional amount	$ 500,000,000	$ 0
Weighted average fixed rate paid by the Company	1.90%
2022, Effective June 2021
Derivative [Line Items]
Notional amount	$ 250,000,000
2023
Derivative [Line Items]
Notional amount	$ 400,000,000	$ 400,000,000
Weighted average fixed rate paid by the Company	2.24%	2.24%
2024
Derivative [Line Items]
Notional amount	$ 200,000,000	$ 300,000,000
Weighted average fixed rate paid by the Company	2.27%	2.28%
2027
Derivative [Line Items]
Notional amount	$ 0	$ 25,000,000
Weighted average fixed rate paid by the Company		2.35%

Derivative Financial Instruments - Schedule of Interest Rate Swap Options, Floor Income Hedges (Details)	Jun. 30, 2019 USD ($)
Swaption
Derivative [Line Items]
Notional amount	$ 1,000,000
Weighted average fixed rate paid by the Company	3.21%
Swaption August 2024
Derivative [Line Items]
Notional amount	$ 750,000
Weighted average fixed rate paid by the Company	3.28%
Swaption September 2024
Derivative [Line Items]
Notional amount	$ 250,000
Weighted average fixed rate paid by the Company	3.00%

Derivative Financial Instruments - Schedule of Interest Rate Caps (Details) - Interest rate caps	Jun. 30, 2019 USD ($)
Interest Rate Cap 1 Maturing July 2020
Derivative [Line Items]
Notional amount	$ 125,000,000
Interest Rate Cap 2 Maturing July 2020
Derivative [Line Items]
Notional amount	150,000,000
Interest Rate Cap Maturing September 2020
Derivative [Line Items]
Notional amount	$ 500,000,000
London Interbank Offered Rate (LIBOR) \| Interest Rate Cap 1 Maturing July 2020
Derivative [Line Items]
Strike rate, spread above variable rate	2.50%
London Interbank Offered Rate (LIBOR) \| Interest Rate Cap 2 Maturing July 2020
Derivative [Line Items]
Strike rate, spread above variable rate	4.99%
London Interbank Offered Rate (LIBOR) \| Interest Rate Cap Maturing September 2020
Derivative [Line Items]
Strike rate, spread above variable rate	2.25%

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2015	Dec. 31, 2018	Dec. 31, 2014
1:3 basis swaps
Derivative [Line Items]
Weighted average basis point paid	0.096%		0.094%
Swaption
Derivative [Line Items]
Payments to enter into derivative instruments			$ 4.6	$ 9.1
Interest rate caps
Derivative [Line Items]
Payments to enter into derivative instruments	$ 0.3	$ 2.9

Derivative Financial Instruments - Schedule of Derivatives as Reflected on Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	$ 230	$ 1,818
Fair value of asset derivatives
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	230	1,818
Fair value of asset derivatives \| Swaption
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	1	1,465
Fair value of asset derivatives \| Interest rate caps
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	229	353
Fair value of liability derivatives
Derivatives, Fair Value [Line Items]
Fair value of liability derivatives	0	0
Fair value of liability derivatives \| Swaption
Derivatives, Fair Value [Line Items]
Fair value of liability derivatives	0	0
Fair value of liability derivatives \| Interest rate caps
Derivatives, Fair Value [Line Items]
Fair value of liability derivatives	$ 0	$ 0

Derivative Financial Instruments - Schedule of Income Statement Impact (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	$ 12,972	$ 21,928	$ 32,007	$ 28,694
Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	12,972	21,928	32,007	28,694
Change in fair value	(37,060)	(4,897)	(67,635)	55,135
Derivative market value adjustments and derivative settlements, net - (expense) income	(24,088)	17,031	(35,628)	83,829
1:3 basis swaps \| Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	807	2,979	3,140	1,315
Change in fair value	4	(2,522)	(2,209)	10,775
Interest rate swaps - floor income hedges \| Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	12,165	19,074	28,867	27,664
Change in fair value	(36,851)	(2,766)	(63,563)	41,434
Interest rate swap options - floor income hedges \| Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(88)	(279)	(1,464)	468
Interest rate caps \| Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value	(125)	122	(399)	448
Interest rate swaps - hybrid debt hedges \| Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative settlements, net	0	(125)	0	(285)
Change in fair value	$ 0	$ 548	$ 0	$ 2,010

Investments and Notes Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Investments (at fair value):
Amortized cost	$ 48,749		$ 47,931
Gross unrealized gains	4,136		5,109
Gross unrealized losses	0		0
Fair value	52,885		53,040
Equity securities
Amortized cost	12,535		12,909
Gross unrealized gains	6,648		5,145
Gross unrealized losses	(1,085)		(407)
Fair value	18,098		17,647
Total investments (at fair value)
Amortized cost	61,284		60,840
Gross unrealized gains	10,784		10,254
Gross unrealized losses	(1,085)		(407)
Fair value	70,983		70,687
Other Investments and Notes Receivable (not measured at fair value):
Other Investments, Total	150,953		178,683
Total investments and notes receivable	221,936	$ 226,236	249,370
Other Investments and Notes Receivable (not measured at fair value): \| Venture capital and funds:
Other Investments and Notes Receivable (not measured at fair value):
Measurement alternative	71,356		70,939
Equity method	15,677		19,230
Other	700		900
Other Investments, Total	87,733		91,069
Other Investments and Notes Receivable (not measured at fair value): \| Real estate:
Other Investments and Notes Receivable (not measured at fair value):
Equity method	38,790		29,168
Other	10,622		34,211
Other Investments, Total	49,412		63,379
Other Investments and Notes Receivable (not measured at fair value): \| Notes receivable
Other Investments and Notes Receivable (not measured at fair value):
Other Investments, Total	0		16,373
Other Investments and Notes Receivable (not measured at fair value): \| Consumer loan
Other Investments and Notes Receivable (not measured at fair value):
Beneficial interest in consumer loan securitization	6,953		0
Other Investments and Notes Receivable (not measured at fair value): \| Tax liens and affordable housing
Other Investments and Notes Receivable (not measured at fair value):
Other Investments, Total	$ 6,855		$ 7,862

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life			80 months
Amortizable intangible assets, net	$ 97,477		$ 97,477		$ 114,290
Amortization of intangible assets	8,300	$ 7,800	$ 16,800	$ 14,000
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life			81 months
Amortizable intangible assets, net	85,166		$ 85,166		98,484
Accumulated amortization of intangible assets	47,287		$ 47,287		33,968
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life			89 months
Amortizable intangible assets, net	9,173		$ 9,173		10,868
Accumulated amortization of intangible assets	7,520		$ 7,520		5,825
Computer software
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life			19 months
Amortizable intangible assets, net	3,138		$ 3,138		4,938
Accumulated amortization of intangible assets	$ 2,249		$ 2,249		$ 15,420

Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2019 (July 1 - December 31)	$ 15,945
2020	29,515
2021	18,761
2022	7,172
2023	6,925
2024 and thereafter	19,159
Amortizable intangible assets, net	$ 97,477	$ 114,290

Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill	$ 156,912	$ 156,912
Loan servicing and systems revenue
Goodwill [Line Items]
Goodwill	23,639	23,639
Education technology, services, and payment processing revenue
Goodwill [Line Items]
Goodwill	70,278	70,278
Communications
Goodwill [Line Items]
Goodwill	21,112	21,112
Asset Generation and Management
Goodwill [Line Items]
Goodwill	41,883	41,883
Corporate and Other Activities
Goodwill [Line Items]
Goodwill	$ 0	$ 0

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 337,418		$ 337,418		$ 327,810	$ 344,784
Depreciation	16,200	$ 13,700	31,900	$ 26,000
Non-communications
Property, Plant and Equipment [Line Items]
Property and equipment, gross	230,161		230,161			231,995
Accumulated depreciation	(138,325)		(138,325)			(123,003)
Property and equipment, net	91,836		91,836			108,992
Non-communications \| Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	150,017		$ 150,017			137,705
Non-communications \| Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Useful life			1 year
Non-communications \| Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Useful life			5 years
Non-communications \| Building and building improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	38,094		$ 38,094			50,138
Non-communications \| Building and building improvements \| Minimum
Property, Plant and Equipment [Line Items]
Useful life			5 years
Non-communications \| Building and building improvements \| Maximum
Property, Plant and Equipment [Line Items]
Useful life			48 years
Non-communications \| Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	23,901		$ 23,901			22,796
Non-communications \| Office furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life			1 year
Non-communications \| Office furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life			10 years
Non-communications \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,991		$ 8,991			9,327
Non-communications \| Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Useful life			1 year
Non-communications \| Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Useful life			15 years
Non-communications \| Transportation equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,049		$ 5,049			5,123
Non-communications \| Transportation equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life			5 years
Non-communications \| Transportation equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life			10 years
Non-communications \| Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,400		$ 1,400			3,328
Non-communications \| Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,709		2,709			3,578
Communications
Property, Plant and Equipment [Line Items]
Property and equipment, gross	298,233		298,233			273,865
Accumulated depreciation	(52,651)		(52,651)			(38,073)
Property and equipment, net	245,582		245,582			235,792
Communications \| Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,185		$ 5,185			4,943
Communications \| Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Useful life			1 year
Communications \| Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Useful life			5 years
Communications \| Transportation equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,732		$ 6,732			6,580
Communications \| Transportation equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life			4 years
Communications \| Transportation equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life			10 years
Communications \| Network plant and fiber
Property, Plant and Equipment [Line Items]
Property and equipment, gross	238,248		$ 238,248			215,787
Communications \| Network plant and fiber \| Minimum
Property, Plant and Equipment [Line Items]
Useful life			5 years
Communications \| Network plant and fiber \| Maximum
Property, Plant and Equipment [Line Items]
Useful life			15 years
Communications \| Customer located property
Property, Plant and Equipment [Line Items]
Property and equipment, gross	24,839		$ 24,839			21,234
Communications \| Customer located property \| Minimum
Property, Plant and Equipment [Line Items]
Useful life			3 years
Communications \| Customer located property \| Maximum
Property, Plant and Equipment [Line Items]
Useful life			7 years
Communications \| Central office
Property, Plant and Equipment [Line Items]
Property and equipment, gross	17,274		$ 17,274			15,688
Communications \| Central office \| Minimum
Property, Plant and Equipment [Line Items]
Useful life			5 years
Communications \| Central office \| Maximum
Property, Plant and Equipment [Line Items]
Useful life			15 years
Communications \| Other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,419		$ 3,419			3,219
Communications \| Other \| Minimum
Property, Plant and Equipment [Line Items]
Useful life			1 year
Communications \| Other \| Maximum
Property, Plant and Equipment [Line Items]
Useful life			39 years
Communications \| Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	70		$ 70			70
Communications \| Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,466		$ 2,466			$ 6,344

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 24,619	$ 49,435	$ 66,210	$ 163,359
Weighted average common shares outstanding - basic and diluted (in shares)	40,050,065	40,886,617	40,210,787	40,918,396
Earnings per share - basic and diluted (in dollars per share)	$ 0.61	$ 1.21	$ 1.65	$ 3.99
Common shareholders
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 24,292	$ 48,860	$ 65,346	$ 161,594
Weighted average common shares outstanding - basic and diluted (in shares)	39,518,652	40,411,359	39,685,958	40,476,254
Earnings per share - basic and diluted (in dollars per share)	$ 0.61	$ 1.21	$ 1.65	$ 3.99
Unvested restricted stock shareholders
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to Nelnet, Inc.	$ 327	$ 575	$ 864	$ 1,765
Weighted average common shares outstanding - basic and diluted (in shares)	531,413	475,258	524,829	442,142
Earnings per share - basic and diluted (in dollars per share)	$ 0.61	$ 1.21	$ 1.65	$ 3.99

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Segment Reporting (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total interest income	$ 246,788	$ 229,189	$ 497,374	$ 432,046
Interest expense	186,963	171,450	378,733	306,999
Net interest income	59,825	57,739	118,641	125,047
Less provision for loan losses	9,000	3,500	16,000	7,500
Net interest income after provision for loan losses	50,825	54,239	102,641	117,547
Other income:
Intersegment servicing revenue	0	0	0	0
Other income	16,152	9,580	25,219	28,135
Derivative settlements, net	12,972	21,928	32,007	28,694
Derivative market value adjustments, net	(37,060)	(4,897)	(67,635)	55,135
Total other income	182,149	200,218	388,276	455,123
Cost of services:
Cost of services	20,972	15,182	46,790	32,583
Operating expenses:
Salaries and benefits	111,214	111,118	222,272	207,760
Depreciation and amortization	24,484	21,494	48,697	39,951
Loan servicing fees to third parties	3,156	3,204	6,049	6,341
Other expenses	42,261	40,409	83,184	73,826
Intersegment expenses, net	0	0	0	0
Total operating expenses	181,115	176,225	360,202	327,878
Income before income taxes	30,887	63,050	83,925	212,209
Income tax (expense) benefit	(6,209)	(13,511)	(17,600)	(49,487)
Net income	24,678	49,539	66,325	162,722
Net income attributable to noncontrolling interests	(59)	(104)	(115)	637
Net income attributable to Nelnet, Inc.	24,619	49,435	66,210	163,359
Total assets	24,219,800	25,209,244	24,219,800	25,209,244	$ 25,220,968
Operating Segments \| Loan Servicing and Systems
Segment Reporting Information [Line Items]
Total interest income	550	293	1,047	550
Interest expense	19	0	19	0
Net interest income	531	293	1,028	550
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	531	293	1,028	550
Other income:
Intersegment servicing revenue	11,598	11,609	23,815	22,380
Other income	2,277	1,956	4,350	3,248
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income	127,860	128,110	257,048	240,315
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	66,496	69,434	132,715	127,971
Depreciation and amortization	8,799	8,212	17,671	14,280
Loan servicing fees to third parties	0	0	0	0
Other expenses	17,118	17,490	36,047	31,953
Intersegment expenses, net	13,604	15,583	27,362	28,939
Total operating expenses	106,017	110,719	213,795	203,143
Income before income taxes	22,374	17,684	44,281	37,722
Income tax (expense) benefit	(5,370)	(4,245)	(10,628)	(9,247)
Net income	17,004	13,439	33,653	28,475
Net income attributable to noncontrolling interests	0	0	0	808
Net income attributable to Nelnet, Inc.	17,004	13,439	33,653	29,283
Total assets	267,611	253,140	267,611	253,140
Operating Segments \| Education Technology, Services, and Payment Processing
Segment Reporting Information [Line Items]
Total interest income	1,659	748	3,676	1,413
Interest expense	11	0	19	0
Net interest income	1,648	748	3,657	1,413
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	1,648	748	3,657	1,413
Other income:
Intersegment servicing revenue	0	0	0	0
Other income	0	0	0	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income	60,342	48,742	139,502	108,963
Cost of services:
Cost of services	15,871	11,317	36,930	25,000
Operating expenses:
Salaries and benefits	22,823	19,513	45,830	38,580
Depreciation and amortization	3,324	3,286	6,835	6,627
Loan servicing fees to third parties	0	0	0	0
Other expenses	5,805	5,383	11,116	10,006
Intersegment expenses, net	3,148	2,570	6,447	5,136
Total operating expenses	35,100	30,752	70,228	60,349
Income before income taxes	11,019	7,421	36,001	25,027
Income tax (expense) benefit	(2,645)	(1,781)	(8,640)	(6,006)
Net income	8,374	5,640	27,361	19,021
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	8,374	5,640	27,361	19,021
Total assets	336,896	235,128	336,896	235,128
Operating Segments \| Communications
Segment Reporting Information [Line Items]
Total interest income	1	1	3	2
Interest expense	0	3,303	0	5,812
Net interest income	1	(3,302)	3	(5,810)
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	1	(3,302)	3	(5,810)
Other income:
Intersegment servicing revenue	0	0	0	0
Other income	362	0	487	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income	16,120	10,320	30,787	19,509
Cost of services:
Cost of services	5,101	3,865	9,860	7,583
Operating expenses:
Salaries and benefits	5,192	4,668	9,929	8,730
Depreciation and amortization	7,737	5,497	15,099	10,418
Loan servicing fees to third parties	0	0	0	0
Other expenses	3,865	3,023	7,342	5,660
Intersegment expenses, net	716	599	1,380	1,204
Total operating expenses	17,510	13,787	33,750	26,012
Income before income taxes	(6,490)	(10,634)	(12,820)	(19,896)
Income tax (expense) benefit	1,558	2,552	3,077	4,775
Net income	(4,932)	(8,082)	(9,743)	(15,121)
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	(4,932)	(8,082)	(9,743)	(15,121)
Total assets	302,873	252,311	302,873	252,311
Operating Segments \| Asset Generation and Management
Segment Reporting Information [Line Items]
Total interest income	243,295	226,509	490,162	426,843
Interest expense	184,035	169,623	372,834	303,854
Net interest income	59,260	56,886	117,328	122,989
Less provision for loan losses	9,000	3,500	16,000	7,500
Net interest income after provision for loan losses	50,260	53,386	101,328	115,489
Other income:
Intersegment servicing revenue	0	0	0	0
Other income	4,888	2,772	8,413	6,124
Derivative settlements, net	12,972	22,053	32,007	28,979
Derivative market value adjustments, net	(37,060)	(5,446)	(67,635)	53,125
Total other income	(19,200)	19,379	(27,215)	88,228
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	382	377	760	759
Depreciation and amortization	0	0	0	0
Loan servicing fees to third parties	3,156	3,204	6,049	6,341
Other expenses	3,051	1,288	3,995	2,137
Intersegment expenses, net	11,665	11,700	23,952	22,565
Total operating expenses	18,254	16,569	34,756	31,802
Income before income taxes	12,806	56,196	39,357	171,915
Income tax (expense) benefit	(3,074)	(13,487)	(9,446)	(41,260)
Net income	9,732	42,709	29,911	130,655
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	9,732	42,709	29,911	130,655
Total assets	22,907,234	24,092,875	22,907,234	24,092,875
Operating Segments \| Corporate and Other Activities
Segment Reporting Information [Line Items]
Total interest income	2,258	6,062	4,310	10,813
Interest expense	3,872	2,949	7,685	4,907
Net interest income	(1,614)	3,113	(3,375)	5,906
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	(1,614)	3,113	(3,375)	5,906
Other income:
Intersegment servicing revenue	0	0	0	0
Other income	8,624	4,851	11,969	18,765
Derivative settlements, net	0	(125)	0	(285)
Derivative market value adjustments, net	0	548	0	2,010
Total other income	8,624	5,274	11,969	20,490
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	16,321	17,126	33,038	31,720
Depreciation and amortization	4,623	4,500	9,093	8,626
Loan servicing fees to third parties	0	0	0	0
Other expenses	12,423	13,225	24,685	24,070
Intersegment expenses, net	(17,535)	(18,842)	(35,326)	(35,464)
Total operating expenses	15,832	16,009	31,490	28,952
Income before income taxes	(8,822)	(7,622)	(22,896)	(2,556)
Income tax (expense) benefit	3,321	3,451	8,037	2,251
Net income	(5,501)	(4,171)	(14,859)	(305)
Net income attributable to noncontrolling interests	(59)	(104)	(115)	(172)
Net income attributable to Nelnet, Inc.	(5,560)	(4,275)	(14,974)	(477)
Total assets	595,623	774,086	595,623	774,086
Eliminations
Segment Reporting Information [Line Items]
Total interest income	(974)	(4,425)	(1,824)	(7,574)
Interest expense	(974)	(4,425)	(1,824)	(7,574)
Net interest income	0	0	0	0
Less provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	0	0	0	0
Other income:
Intersegment servicing revenue	(11,598)	(11,609)	(23,815)	(22,380)
Other income	0	0	0	0
Derivative settlements, net	0	0	0	0
Derivative market value adjustments, net	0	0	0	0
Total other income	(11,598)	(11,609)	(23,815)	(22,380)
Cost of services:
Cost of services	0	0	0	0
Operating expenses:
Salaries and benefits	0	0	0	0
Depreciation and amortization	0	0	0	0
Loan servicing fees to third parties	0	0	0	0
Other expenses	0	0	0	0
Intersegment expenses, net	(11,598)	(11,609)	(23,815)	(22,380)
Total operating expenses	(11,598)	(11,609)	(23,815)	(22,380)
Income before income taxes	0	0	0	0
Income tax (expense) benefit	0	0	0	0
Net income	0	0	0	0
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Nelnet, Inc.	0	0	0	0
Total assets	(190,437)	(398,297)	(190,437)	(398,297)
Loan servicing and systems revenue
Other income:
Revenue	113,985	114,545	228,883	214,687
Loan servicing and systems revenue \| Operating Segments \| Loan Servicing and Systems
Other income:
Revenue	113,985	114,545	228,883	214,687
Loan servicing and systems revenue \| Operating Segments \| Education Technology, Services, and Payment Processing
Other income:
Revenue	0	0	0	0
Loan servicing and systems revenue \| Operating Segments \| Communications
Other income:
Revenue	0	0	0	0
Loan servicing and systems revenue \| Operating Segments \| Asset Generation and Management
Other income:
Revenue	0	0	0	0
Loan servicing and systems revenue \| Operating Segments \| Corporate and Other Activities
Other income:
Revenue	0	0	0	0
Loan servicing and systems revenue \| Eliminations
Other income:
Revenue	0	0	0	0
Education technology, services, and payment processing revenue
Other income:
Revenue	60,342	48,742	139,502	108,963
Cost of services:
Cost of services	15,871	11,317	36,930	25,000
Education technology, services, and payment processing revenue \| Operating Segments \| Loan Servicing and Systems
Other income:
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Education technology, services, and payment processing revenue \| Operating Segments \| Education Technology, Services, and Payment Processing
Other income:
Revenue	60,342	48,742	139,502	108,963
Cost of services:
Cost of services	15,871	11,317	36,930	25,000
Education technology, services, and payment processing revenue \| Operating Segments \| Communications
Other income:
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Education technology, services, and payment processing revenue \| Operating Segments \| Asset Generation and Management
Other income:
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Education technology, services, and payment processing revenue \| Operating Segments \| Corporate and Other Activities
Other income:
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Education technology, services, and payment processing revenue \| Eliminations
Other income:
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Communications services
Other income:
Revenue	15,758	10,320	30,300	19,509
Cost of services:
Cost of services	5,101	3,865	9,860	7,583
Communications services \| Operating Segments \| Loan Servicing and Systems
Other income:
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Communications services \| Operating Segments \| Education Technology, Services, and Payment Processing
Other income:
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Communications services \| Operating Segments \| Communications
Other income:
Revenue	15,758	10,320	30,300	19,509
Cost of services:
Cost of services	5,101	3,865	9,860	7,583
Communications services \| Operating Segments \| Asset Generation and Management
Other income:
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Communications services \| Operating Segments \| Corporate and Other Activities
Other income:
Revenue	0	0	0	0
Cost of services:
Cost of services	0	0	0	0
Communications services \| Eliminations
Other income:
Revenue	0	0	0	0
Cost of services:
Cost of services	$ 0	$ 0	$ 0	$ 0

Disaggregated Revenue and Deferred Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Communications revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 15,758	$ 10,320	$ 30,300	$ 19,509
Residential revenue
Disaggregation of Revenue [Line Items]
Revenue	11,890	7,727	22,955	14,472
Business revenue
Disaggregation of Revenue [Line Items]
Revenue	3,816	2,535	7,230	4,917
Other
Disaggregation of Revenue [Line Items]
Revenue	52	58	115	120
Loan servicing and systems revenue
Disaggregation of Revenue [Line Items]
Revenue	113,985	114,545	228,883	214,687
Government servicing - Nelnet
Disaggregation of Revenue [Line Items]
Revenue	40,459	39,781	80,099	79,107
Government servicing - Great Lakes
Disaggregation of Revenue [Line Items]
Revenue	45,973	45,682	93,050	76,437
Private education and consumer loan servicing
Disaggregation of Revenue [Line Items]
Revenue	8,985	8,882	18,465	21,983
FFELP servicing
Disaggregation of Revenue [Line Items]
Revenue	6,424	9,147	13,119	16,838
Software services
Disaggregation of Revenue [Line Items]
Revenue	10,021	8,671	19,762	16,260
Outsourced services and other
Disaggregation of Revenue [Line Items]
Revenue	2,123	2,382	4,388	4,062
Education technology, services, and payment processing revenue
Disaggregation of Revenue [Line Items]
Revenue	60,342	48,742	139,502	108,963
Tuition payment plan services
Disaggregation of Revenue [Line Items]
Revenue	24,655	20,417	54,829	43,404
Payment processing
Disaggregation of Revenue [Line Items]
Revenue	21,311	16,026	50,290	35,952
Education technology and services
Disaggregation of Revenue [Line Items]
Revenue	14,096	12,018	33,805	28,993
Other
Disaggregation of Revenue [Line Items]
Revenue	280	281	578	614
Communications revenue
Disaggregation of Revenue [Line Items]
Revenue	15,758	10,320	30,300	19,509
Internet
Disaggregation of Revenue [Line Items]
Revenue	9,297	5,387	17,726	10,086
Television
Disaggregation of Revenue [Line Items]
Revenue	4,050	3,086	7,939	5,872
Telephone
Disaggregation of Revenue [Line Items]
Revenue	2,395	1,827	4,575	3,512
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 16	$ 20	$ 60	$ 39

Disaggregated Revenue and Deferred Revenue - Schedule of Other Income by Component (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Gain (loss) on investments and notes receivable, net	$ 4,258	$ (901)	$ 3,831	$ 7,787
Borrower late fee income	3,161	2,758	6,674	5,741
Gain on sale of loans	1,712	0	1,712	0
Other	4,239	4,573	7,638	8,704
Other income	16,152	9,580	25,219	28,135
Management fees
Disaggregation of Revenue [Line Items]
Revenue	2,051	1,756	3,923	2,917
Investment advisory fees
Disaggregation of Revenue [Line Items]
Revenue	$ 731	$ 1,394	$ 1,441	$ 2,986

Disaggregated Revenue and Deferred Revenue - Schedule of Changes in Liabilities from Contract with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Contract With Customer Liability [Heading Roll Forward]
Balance, beginning of period	$ 26,753	$ 22,715	$ 39,122	$ 32,276
Deferral of revenue	35,173	29,055	59,253	46,106
Recognition of revenue	(32,431)	(26,112)	(68,880)	(52,724)
Balance, end of period	29,495	25,658	29,495	25,658
Loan Servicing and Systems
Contract With Customer Liability [Heading Roll Forward]
Balance, beginning of period	3,947	4,172	4,413	4,968
Deferral of revenue	764	711	1,880	964
Recognition of revenue	(1,396)	(1,112)	(2,978)	(2,161)
Balance, end of period	3,315	3,771	3,315	3,771
Education Technology, Services, and Payment Processing
Contract With Customer Liability [Heading Roll Forward]
Balance, beginning of period	18,498	15,248	30,556	24,164
Deferral of revenue	24,770	20,913	38,732	31,688
Recognition of revenue	(21,779)	(18,172)	(47,799)	(37,863)
Balance, end of period	21,489	17,989	21,489	17,989
Communications
Contract With Customer Liability [Heading Roll Forward]
Balance, beginning of period	2,756	1,827	2,551	1,665
Deferral of revenue	8,798	5,974	17,064	11,349
Recognition of revenue	(8,474)	(5,652)	(16,535)	(10,865)
Balance, end of period	3,080	2,149	3,080	2,149
Corporate and Other Activities
Contract With Customer Liability [Heading Roll Forward]
Balance, beginning of period	1,552	1,468	1,602	1,479
Deferral of revenue	841	1,457	1,577	2,105
Recognition of revenue	(782)	(1,176)	(1,568)	(1,835)
Balance, end of period	$ 1,611	$ 1,749	$ 1,611	$ 1,749

Major Customer (Details) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
Major Customer (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Government servicing - Nelnet
Concentration Risk [Line Items]
Revenue	$ 40,459	$ 39,781		$ 80,099	$ 79,107
Government servicing - Nelnet \| Customer concentration risk
Concentration Risk [Line Items]
Revenue	40,500	39,800		80,100	79,100
Government servicing - Great Lakes
Concentration Risk [Line Items]
Revenue	45,973	45,682		93,050	$ 76,437
Government servicing - Great Lakes \| Customer concentration risk
Concentration Risk [Line Items]
Revenue	$ 46,000	$ 45,700		$ 93,100
Government servicing - Great Lakes \| Great Lakes Educational Loan Service \| Customer concentration risk
Concentration Risk [Line Items]
Acquiree revenue since acquisition			$ 76,400

Related Party Disclosures (Details) - Subsequent event - Director $ in Millions	Jul. 26, 2019 USD ($)
Related Party Transaction [Line Items]
Note receivable, related party	$ 16.0
Notes receivable, related party, interest rate	14.00%
Notes receivable, related party, term	180 days

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$ 70,983		$ 70,687
Derivative instruments	230		1,818
Total assets	71,213		72,505
Financial assets:
Loans receivable	21,455,758		22,377,142
Total cash and cash equivalents	84,400	$ 120,701	121,347	$ 67,867	$ 66,752
Restricted cash - due to customers	279,017		369,678	$ 154,760	$ 187,121
Accrued interest receivable	724,011		679,197
Derivative instruments	230		1,818
Financial liabilities:
Bonds and notes payable	21,294,192	$ 22,185,558	22,218,740
Accrued interest payable	56,471		61,679
Due to customers	279,017		369,678
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	3,374		2,826
Derivative instruments	0		0
Total assets	3,374		2,826
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	52,782		52,936
Derivative instruments	230		1,818
Total assets	53,012		54,754
Fair value
Financial assets:
Loans receivable	22,152,953		23,521,171
Total cash and cash equivalents	84,400		121,347
Investments (at fair value)	70,983		70,687
Beneficial interest in consumer loan securitization	6,953
Notes receivable			16,373
Restricted cash	690,580		701,366
Restricted cash - due to customers	279,017		369,678
Accrued interest receivable	724,011		679,197
Derivative instruments	230		1,818
Financial liabilities:
Bonds and notes payable	21,077,894		22,270,462
Accrued interest payable	56,471		61,679
Due to customers	279,017		369,678
Fair value \| Level 1
Financial assets:
Loans receivable	0		0
Total cash and cash equivalents	84,400		121,347
Investments (at fair value)	3,374		2,826
Beneficial interest in consumer loan securitization	0
Notes receivable			0
Restricted cash	690,580		701,366
Restricted cash - due to customers	279,017		369,678
Accrued interest receivable	0		0
Derivative instruments	0		0
Financial liabilities:
Bonds and notes payable	0		0
Accrued interest payable	0		0
Due to customers	279,017		369,678
Fair value \| Level 2
Financial assets:
Loans receivable	0		0
Total cash and cash equivalents	0		0
Investments (at fair value)	52,782		52,936
Beneficial interest in consumer loan securitization	0
Notes receivable			16,373
Restricted cash	0		0
Restricted cash - due to customers	0		0
Accrued interest receivable	724,011		679,197
Derivative instruments	230		1,818
Financial liabilities:
Bonds and notes payable	21,077,894		22,270,462
Accrued interest payable	56,471		61,679
Due to customers	0		0
Fair value \| Level 3
Financial assets:
Loans receivable	22,152,953		23,521,171
Total cash and cash equivalents	0		0
Investments (at fair value)	0		0
Beneficial interest in consumer loan securitization	6,953
Notes receivable			0
Restricted cash	0		0
Restricted cash - due to customers	0		0
Accrued interest receivable	0		0
Derivative instruments	0		0
Financial liabilities:
Bonds and notes payable	0		0
Accrued interest payable	0		0
Due to customers	0		0
Carrying value
Financial assets:
Loans receivable	21,455,758		22,377,142
Total cash and cash equivalents	84,400		121,347
Investments (at fair value)	70,983		70,687
Beneficial interest in consumer loan securitization	6,953
Notes receivable			16,373
Restricted cash	690,580		701,366
Restricted cash - due to customers	279,017		369,678
Accrued interest receivable	724,011		679,197
Derivative instruments	230		1,818
Financial liabilities:
Bonds and notes payable	21,294,192		22,218,740
Accrued interest payable	56,471		61,679
Due to customers	279,017		369,678
Student loan and other asset-backed securities - available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	52,782		52,936
Student loan and other asset-backed securities - available-for-sale \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	0		0
Student loan and other asset-backed securities - available-for-sale \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	52,782		52,936
Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	3,271		2,722
Equity securities \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	3,271		2,722
Equity securities \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	0		0
Equity securities measured at net asset value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	14,827		14,925
Debt securities - available-for-sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	103		104
Debt securities - available-for-sale \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	103		104
Debt securities - available-for-sale \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$ 0		$ 0

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 1,264,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(6,077,000)
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(743,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	2,007,000
Noncontrolling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (6,077,000)