Subsequent Event	9 Months Ended
Sep. 30, 2026
Subsequent Events [Abstract]
Subsequent Event	Subsequent Events Restructuring Activities In October 2026, we initiated a restructuring program to better align the Company’s workforce and resources with its strategic priorities, reduce costs, and improve operational efficiency. The restructuring program involves a reduction of our workforce by less than 5 percent, contract termination costs, and certain other exit costs to improve our cost structure prospectively. In connection with these actions, we estimate total restructuring expenses to be between $16 million and $18 million, most of which are cash charges related to employee severance and other termination benefits. We expect to substantially complete execution of the restructuring program, and to incur substantially all of the associated charges, by the end of the second quarter of 2027. 2026 Loan Sale On October 21, 2026, we sold Private Education Loans to our existing strategic partner including $113 million in principal, $3 million in capitalized interest and $0.1 million in accrued interest. The loan sales included the amounts that were classified as held for sale as of September 30, 2026, which consist of newly originated loans, some of which were not fully-disbursed. As the loan sale included newly originated loans that were not fully-disbursed, the resulting gain on sale expressed as a percentage was in the low single-digits. The gain will be recognized in the fourth quarter 2026 consolidated statements of income. The transaction qualified for sale treatment and removed the balance of the loans from our balance sheet on the settlement date. We will continue to service these loans and provide loan program management pursuant to the terms of the applicable transaction documents.

In October 2026, we initiated a restructuring program to better align the Company’s workforce and resources with its strategic priorities, reduce costs, and improve operational efficiency. The restructuring program involves a reduction of our workforce by less than 5 percent, contract termination costs, and certain other exit costs to improve our cost structure prospectively. In connection with these actions, we estimate total restructuring expenses to be between $16 million and $18 million, most of which are cash charges related to employee severance and other termination benefits. We expect to substantially complete execution of the restructuring program, and to incur substantially all of the associated charges, by the end of the second quarter of 2027.

On October 21, 2026, we sold Private Education Loans to our existing strategic partner including $113 million in principal, $3 million in capitalized interest and $0.1 million in accrued interest. The loan sales included the amounts that were classified as held for sale as of September 30, 2026, which consist of newly originated loans, some of which were not fully-disbursed.

As the loan sale included newly originated loans that were not fully-disbursed, the resulting gain on sale expressed as a percentage was in the low single-digits. The gain will be recognized in the fourth quarter 2026 consolidated statements of income. The transaction qualified for sale treatment and removed the balance of the loans from our balance sheet on the settlement date. We will continue to service these loans and provide loan program management pursuant to the terms of the applicable transaction documents.