--12-31false00012586022020Q2us-gaap:AccountingStandardsUpdate201613Memberus-gaap:AccountingStandardsUpdate201613Memberus-gaap:AccountingStandardsUpdate201613MemberP5D00012586022020-01-012020-06-30xbrli:shares0001258602us-gaap:CommonClassAMember2020-07-310001258602us-gaap:CommonClassBMember2020-07-31iso4217:USD00012586022020-06-3000012586022019-12-31iso4217:USDxbrli:shares0001258602us-gaap:CommonClassAMember2019-12-310001258602us-gaap:CommonClassAMember2020-06-300001258602us-gaap:CommonClassBMember2019-12-310001258602us-gaap:CommonClassBMember2020-06-300001258602us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-06-300001258602us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2019-12-3100012586022020-04-012020-06-3000012586022019-04-012019-06-3000012586022019-01-012019-06-300001258602nni:LoanServicingAndSystemsMember2020-04-012020-06-300001258602nni:LoanServicingAndSystemsMember2019-04-012019-06-300001258602nni:LoanServicingAndSystemsMember2020-01-012020-06-300001258602nni:LoanServicingAndSystemsMember2019-01-012019-06-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-04-012020-06-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-04-012019-06-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-01-012020-06-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-01-012019-06-300001258602nni:CommunicationsServicesMember2020-04-012020-06-300001258602nni:CommunicationsServicesMember2019-04-012019-06-300001258602nni:CommunicationsServicesMember2020-01-012020-06-300001258602nni:CommunicationsServicesMember2019-01-012019-06-300001258602us-gaap:RetainedEarningsMember2020-01-012020-06-300001258602us-gaap:RetainedEarningsMember2019-01-012019-06-300001258602us-gaap:PreferredStockMember2019-03-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-03-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2019-03-310001258602us-gaap:AdditionalPaidInCapitalMember2019-03-310001258602us-gaap:RetainedEarningsMember2019-03-310001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-310001258602us-gaap:NoncontrollingInterestMember2019-03-3100012586022019-03-310001258602us-gaap:NoncontrollingInterestMember2019-04-012019-06-300001258602us-gaap:RetainedEarningsMember2019-04-012019-06-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-04-012019-06-300001258602us-gaap:CommonClassAMember2019-04-012019-06-300001258602us-gaap:CommonClassBMember2019-04-012019-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-04-012019-06-300001258602us-gaap:AdditionalPaidInCapitalMember2019-04-012019-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2019-04-012019-06-300001258602us-gaap:PreferredStockMember2019-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2019-06-300001258602us-gaap:AdditionalPaidInCapitalMember2019-06-300001258602us-gaap:RetainedEarningsMember2019-06-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-300001258602us-gaap:NoncontrollingInterestMember2019-06-3000012586022019-06-300001258602us-gaap:PreferredStockMember2020-03-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2020-03-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2020-03-310001258602us-gaap:AdditionalPaidInCapitalMember2020-03-310001258602us-gaap:RetainedEarningsMember2020-03-310001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-310001258602us-gaap:NoncontrollingInterestMember2020-03-3100012586022020-03-310001258602us-gaap:NoncontrollingInterestMember2020-04-012020-06-300001258602us-gaap:RetainedEarningsMember2020-04-012020-06-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300001258602us-gaap:CommonClassAMember2020-04-012020-06-300001258602us-gaap:CommonClassBMember2020-04-012020-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2020-04-012020-06-300001258602us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2020-04-012020-06-300001258602us-gaap:PreferredStockMember2020-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2020-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2020-06-300001258602us-gaap:AdditionalPaidInCapitalMember2020-06-300001258602us-gaap:RetainedEarningsMember2020-06-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300001258602us-gaap:NoncontrollingInterestMember2020-06-300001258602us-gaap:PreferredStockMember2018-12-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2018-12-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2018-12-310001258602us-gaap:AdditionalPaidInCapitalMember2018-12-310001258602us-gaap:RetainedEarningsMember2018-12-310001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310001258602us-gaap:NoncontrollingInterestMember2018-12-3100012586022018-12-310001258602us-gaap:NoncontrollingInterestMember2019-01-012019-06-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-06-300001258602us-gaap:CommonClassBMember2019-01-012019-06-300001258602us-gaap:CommonClassAMember2019-01-012019-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-01-012019-06-300001258602us-gaap:AdditionalPaidInCapitalMember2019-01-012019-06-300001258602us-gaap:NoncontrollingInterestMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2019-01-012019-06-300001258602us-gaap:PreferredStockMember2019-12-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-12-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2019-12-310001258602us-gaap:AdditionalPaidInCapitalMember2019-12-310001258602us-gaap:RetainedEarningsMember2019-12-310001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001258602us-gaap:NoncontrollingInterestMember2019-12-310001258602us-gaap:NoncontrollingInterestMember2020-01-012020-06-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-06-300001258602us-gaap:CommonClassAMember2020-01-012020-06-300001258602us-gaap:CommonClassBMember2020-01-012020-06-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2020-01-012020-06-300001258602us-gaap:AdditionalPaidInCapitalMember2020-01-012020-06-300001258602us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2020-01-012020-06-300001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-01-010001258602srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-01-010001258602nni:StudentLoanStaffordAndOtherMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-06-300001258602nni:StudentLoanStaffordAndOtherMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:StudentLoanConsolidationLoanMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-06-300001258602nni:StudentLoanConsolidationLoanMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2020-06-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-12-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2020-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2019-12-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2020-01-302020-01-30xbrli:pure0001258602us-gaap:SubsequentEventMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-07-012020-08-060001258602us-gaap:SubsequentEventMember2020-07-012020-08-060001258602us-gaap:SubsequentEventMembernni:ConsumerPortfolioSegmentConsumerLoansMembersrt:ScenarioForecastMember2020-07-012020-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2020-03-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-03-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2020-04-012020-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-03-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-03-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-04-012020-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2020-03-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-03-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2020-04-012020-06-300001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-03-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2019-03-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-03-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2019-04-012019-06-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2019-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-03-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-03-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-04-012019-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2019-03-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-03-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2019-04-012019-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2019-06-300001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-03-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2020-01-012020-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-01-012020-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2020-01-012020-06-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2018-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2019-01-012019-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2018-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-01-012019-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2018-12-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2019-01-012019-06-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredNotCoveredByFederalGuarantyMember2020-06-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-06-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-06-300001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-06-300001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-06-300001258602nni:Financingreceivables91120dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-06-300001258602nni:Financingreceivables91120dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:Financingreceivables91120dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-06-300001258602nni:Financingreceivables121270dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-06-300001258602nni:Financingreceivables121270dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:Financingreceivables121270dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-06-300001258602nni:Financingreceivables271daysorgreaterpastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-06-300001258602nni:Financingreceivables271daysorgreaterpastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:Financingreceivables271daysorgreaterpastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMembernni:FinancingReceivables31To60DaysPastDueMember2020-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMembernni:FinancingReceivables31To60DaysPastDueMember2019-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMembernni:FinancingReceivables31To60DaysPastDueMember2019-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMembernni:FinancingReceivables61to90DaysPastDueMember2020-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMembernni:FinancingReceivables61to90DaysPastDueMember2019-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMembernni:FinancingReceivables61to90DaysPastDueMember2019-06-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-06-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-12-310001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMembernni:FinancingReceivables31To60DaysPastDueMember2020-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMembernni:FinancingReceivables31To60DaysPastDueMember2019-12-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMembernni:FinancingReceivables31To60DaysPastDueMember2019-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMembernni:FinancingReceivables61to90DaysPastDueMember2020-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMembernni:FinancingReceivables61to90DaysPastDueMember2019-12-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMembernni:FinancingReceivables61to90DaysPastDueMember2019-06-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-06-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2019-12-310001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2019-06-300001258602nni:StudentLoanGraceOrDefermentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMembernni:StudentLoanForbearanceMember2020-06-300001258602nni:FinancingReceivableNotPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-06-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMembernni:FinancingReceivables31To60DaysPastDueMember2020-06-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMembernni:FinancingReceivables61to90DaysPastDueMember2020-06-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-06-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-06-300001258602nni:FinancingReceivableNotPastDueMembernni:StudentLoanGraceOrDefermentMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-06-300001258602nni:FinancingReceivableNotPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-06-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerLoansMembernni:FinancingReceivables31To60DaysPastDueMember2020-06-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerLoansMembernni:FinancingReceivables61to90DaysPastDueMember2020-06-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-06-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-06-300001258602nni:BondsandnotesbasedonindicesMembernni:FederallyInsuredStudentLoansMember2020-06-300001258602nni:BondsandnotesbasedonindicesMembernni:FederallyInsuredStudentLoansMembersrt:MinimumMember2020-06-300001258602nni:BondsandnotesbasedonindicesMembernni:FederallyInsuredStudentLoansMembersrt:MaximumMember2020-06-300001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembernni:FederallyInsuredStudentLoansMember2020-06-300001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembernni:FederallyInsuredStudentLoansMembersrt:MinimumMember2020-06-300001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembernni:FederallyInsuredStudentLoansMembersrt:MaximumMember2020-06-300001258602nni:VariableRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMember2020-06-300001258602nni:FixedRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMember2020-06-300001258602nni:FixedRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMembersrt:MinimumMember2020-06-300001258602nni:FixedRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMembersrt:MaximumMember2020-06-300001258602nni:FederallyInsuredStudentLoansMemberus-gaap:WarehouseAgreementBorrowingsMember2020-06-300001258602nni:FederallyInsuredStudentLoansMemberus-gaap:WarehouseAgreementBorrowingsMembersrt:MinimumMember2020-06-300001258602nni:FederallyInsuredStudentLoansMemberus-gaap:WarehouseAgreementBorrowingsMembersrt:MaximumMember2020-06-300001258602nni:PrivateeducationloansMemberus-gaap:WarehouseAgreementBorrowingsMember2020-06-300001258602us-gaap:ConsumerLoanMemberus-gaap:WarehouseAgreementBorrowingsMember2020-06-300001258602nni:VariableRateBondsAndNotesMembernni:PrivateeducationloansMember2020-06-300001258602nni:VariableRateBondsAndNotesMembernni:PrivateeducationloansMembersrt:MinimumMember2020-06-300001258602nni:VariableRateBondsAndNotesMembernni:PrivateeducationloansMembersrt:MaximumMember2020-06-300001258602nni:FixedRateBondsAndNotesMembernni:PrivateeducationloansMember2020-06-300001258602nni:FixedRateBondsAndNotesMembernni:PrivateeducationloansMembersrt:MinimumMember2020-06-300001258602nni:FixedRateBondsAndNotesMembernni:PrivateeducationloansMembersrt:MaximumMember2020-06-300001258602us-gaap:LineOfCreditMember2020-06-300001258602us-gaap:JuniorSubordinatedDebtMember2020-06-300001258602us-gaap:NotesPayableOtherPayablesMember2020-06-300001258602us-gaap:NotesPayableOtherPayablesMembersrt:MinimumMember2020-06-300001258602us-gaap:NotesPayableOtherPayablesMembersrt:MaximumMember2020-06-300001258602nni:BondsandnotesbasedonindicesMembernni:FederallyInsuredStudentLoansMember2019-12-310001258602nni:BondsandnotesbasedonindicesMembernni:FederallyInsuredStudentLoansMembersrt:MinimumMember2019-12-310001258602nni:BondsandnotesbasedonindicesMembernni:FederallyInsuredStudentLoansMembersrt:MaximumMember2019-12-310001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembernni:FederallyInsuredStudentLoansMember2019-12-310001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembernni:FederallyInsuredStudentLoansMembersrt:MinimumMember2019-12-310001258602nni:BondsAndNotesBasedOnAuctionOrRemarketingMembernni:FederallyInsuredStudentLoansMembersrt:MaximumMember2019-12-310001258602nni:VariableRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMember2019-12-310001258602nni:FixedRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMember2019-12-310001258602nni:FixedRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMembersrt:MinimumMember2019-12-310001258602nni:FixedRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMembersrt:MaximumMember2019-12-310001258602nni:FederallyInsuredStudentLoansMemberus-gaap:WarehouseAgreementBorrowingsMember2019-12-310001258602nni:FederallyInsuredStudentLoansMemberus-gaap:WarehouseAgreementBorrowingsMembersrt:MinimumMember2019-12-310001258602nni:FederallyInsuredStudentLoansMemberus-gaap:WarehouseAgreementBorrowingsMembersrt:MaximumMember2019-12-310001258602us-gaap:ConsumerLoanMemberus-gaap:WarehouseAgreementBorrowingsMember2019-12-310001258602nni:VariableRateBondsAndNotesMembernni:PrivateeducationloansMember2019-12-310001258602nni:VariableRateBondsAndNotesMembernni:PrivateeducationloansMembersrt:MinimumMember2019-12-310001258602nni:VariableRateBondsAndNotesMembernni:PrivateeducationloansMembersrt:MaximumMember2019-12-310001258602nni:FixedRateBondsAndNotesMembernni:PrivateeducationloansMember2019-12-310001258602nni:FixedRateBondsAndNotesMembernni:PrivateeducationloansMembersrt:MinimumMember2019-12-310001258602nni:FixedRateBondsAndNotesMembernni:PrivateeducationloansMembersrt:MaximumMember2019-12-310001258602us-gaap:LineOfCreditMember2019-12-310001258602us-gaap:JuniorSubordinatedDebtMember2019-12-310001258602us-gaap:NotesPayableOtherPayablesMember2019-12-310001258602nni:NfslwIWarehouseMembernni:FederallyInsuredStudentLoansMemberus-gaap:WarehouseAgreementBorrowingsMember2020-06-300001258602nni:FederallyInsuredStudentLoansMemberus-gaap:WarehouseAgreementBorrowingsMembernni:NhelpIiWarehouseMember2020-06-300001258602us-gaap:SecuredDebtMembernni:Notes20201Member2020-06-300001258602us-gaap:SecuredDebtMembernni:Notes20202Member2020-06-300001258602nni:Notes20203Memberus-gaap:SecuredDebtMember2020-06-300001258602us-gaap:SecuredDebtMembernni:Notes2020Member2020-06-300001258602us-gaap:SeniorNotesMembernni:ClassA20201NotesMember2020-06-300001258602nni:ClassA20202NotesMemberus-gaap:SeniorNotesMember2020-06-300001258602us-gaap:SeniorNotesMembernni:ClassA20203NotesMember2020-06-300001258602nni:ClassANotes2020Memberus-gaap:SeniorNotesMember2020-06-300001258602us-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:SeniorNotesMembernni:ClassA20201NotesMember2020-01-012020-06-300001258602us-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:SeniorNotesMembernni:ClassA20203NotesMember2020-01-012020-06-300001258602us-gaap:SubordinatedDebtMembernni:ClassB20201NotesMember2020-06-300001258602nni:ClassB20202NotesMemberus-gaap:SubordinatedDebtMember2020-06-300001258602nni:ClassB20203NotesMemberus-gaap:SubordinatedDebtMember2020-06-300001258602us-gaap:SubordinatedDebtMembernni:ClassB2020NotesMember2020-06-300001258602us-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:SubordinatedDebtMembernni:ClassB20201NotesMember2020-01-012020-06-300001258602us-gaap:LondonInterbankOfferedRateLIBORMembernni:ClassB20203NotesMemberus-gaap:SubordinatedDebtMember2020-01-012020-06-300001258602us-gaap:WarehouseAgreementBorrowingsMembernni:PrivateLoanWarehouseFacilityMember2020-02-130001258602us-gaap:WarehouseAgreementBorrowingsMembernni:PrivateLoanWarehouseFacilityMember2020-03-200001258602us-gaap:WarehouseAgreementBorrowingsMembernni:PrivateLoanWarehouseFacilityMembersrt:MinimumMember2020-01-012020-06-300001258602us-gaap:WarehouseAgreementBorrowingsMembernni:PrivateLoanWarehouseFacilityMembersrt:MaximumMember2020-01-012020-06-300001258602us-gaap:WarehouseAgreementBorrowingsMembernni:PrivateLoanWarehouseFacilityMember2020-06-300001258602us-gaap:WarehouseAgreementBorrowingsMembernni:ConsumerLoanWarehouseFacilityMember2020-06-300001258602us-gaap:WarehouseAgreementBorrowingsMembernni:ConsumerLoanWarehouseFacilityMembersrt:MinimumMember2020-01-012020-06-300001258602us-gaap:WarehouseAgreementBorrowingsMembernni:ConsumerLoanWarehouseFacilityMembersrt:MaximumMember2020-01-012020-06-300001258602nni:UnsecuredLineofCreditMember2020-06-300001258602nni:OneMonthtoThreeMonthBasisSwapOutstanding1Membernni:OneMonthToThreeMonthLiborBasisSwapMember2020-06-300001258602nni:OneMonthToThreeMonthBasisSwapOutstanding2Membernni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthBasisSwapOutstanding2Membernni:OneMonthToThreeMonthLiborBasisSwapMember2020-06-300001258602nni:OneMonthToThreeMonthBasisSwapOutstanding3Membernni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthBasisSwapOutstanding3Membernni:OneMonthToThreeMonthLiborBasisSwapMember2020-06-300001258602nni:OneMonthToThreeMonthBasisSwapOutstanding4Membernni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthBasisSwapOutstanding4Membernni:OneMonthToThreeMonthLiborBasisSwapMember2020-06-300001258602nni:OneMonthToThreeMonthBasisSwapOutstanding5Membernni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthBasisSwapOutstanding5Membernni:OneMonthToThreeMonthLiborBasisSwapMember2020-06-300001258602nni:OneMonthToThreeMonthBasisSwapOutstanding6Membernni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthBasisSwapOutstanding6Membernni:OneMonthToThreeMonthLiborBasisSwapMember2020-06-300001258602nni:OneMonthToThreeMonthBasisSwapOutstanding7Membernni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthBasisSwapOutstanding7Membernni:OneMonthToThreeMonthLiborBasisSwapMember2020-06-300001258602nni:OneMonthToThreeMonthBasisSwapOutstanding8Membernni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMember2020-06-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthBasisSwapOutstandingEffectiveStartDateMay2020Membernni:OneMonthToThreeMonthLiborBasisSwapMember2020-06-300001258602us-gaap:LondonInterbankOfferedRateLIBORMembernni:OneMonthToThreeMonthLiborBasisSwapMember2020-06-300001258602us-gaap:LondonInterbankOfferedRateLIBORMembernni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:FixedRateFloorIncomeInterestRateSwap2020MaturityMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeMember2020-06-300001258602nni:FixedRateFloorIncomeInterestRateSwap2020MaturityMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeMember2019-12-310001258602nni:FixedRateFloorIncomeInterestRateSwap2021MaturityMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeMember2020-06-300001258602nni:FixedRateFloorIncomeInterestRateSwap2021MaturityMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeMember2019-12-310001258602nni:FixedRateFloorIncomeInterestRateSwap2022MaturityMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeMember2020-06-300001258602nni:FixedRateFloorIncomeInterestRateSwap2022MaturityMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeMember2019-12-310001258602nni:FixedRateFloorIncomeInterestRateSwap2023MaturityMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeMember2020-06-300001258602nni:FixedRateFloorIncomeInterestRateSwap2023MaturityMemberus-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeMember2019-12-310001258602us-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeMember2020-06-300001258602us-gaap:InterestRateSwapMembernni:FixedRateFloorIncomeMember2019-12-310001258602nni:InterestRateSwapForwardEffectiveDateJune2021Membernni:FixedRateFloorIncomeInterestRateSwap2022MaturityMembernni:FixedRateFloorIncomeMember2020-06-300001258602nni:InterestRateSwapForwardEffectiveDateAugust2020Membernni:FixedRateFloorIncomeInterestRateSwap2022MaturityMembernni:FixedRateFloorIncomeMember2020-06-300001258602nni:FixedRateFloorIncomeInterestRateSwap2023MaturityMembernni:InterestRateSwapForwardEffectiveDateJuly2020Membernni:FixedRateFloorIncomeMember2020-06-300001258602nni:InterestRateSwapsExcludingDerivativesWithForwardEffectiveStartDatesMembernni:FixedRateFloorIncomeInterestRateSwap2022MaturityMembernni:FixedRateFloorIncomeMember2020-06-300001258602us-gaap:InterestRateCapMember2015-06-012015-06-300001258602us-gaap:InterestRateCapMember2019-06-012019-06-300001258602nni:InterestRateCapMaturingJuly2020Memberus-gaap:InterestRateCapMember2020-06-300001258602nni:InterestRateCapMaturingJuly2020Memberus-gaap:InterestRateCapMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-06-300001258602us-gaap:InterestRateCapMembernni:InterestRateCap2MaturingJuly2020Member2020-06-300001258602us-gaap:InterestRateCapMemberus-gaap:LondonInterbankOfferedRateLIBORMembernni:InterestRateCap2MaturingJuly2020Member2020-06-300001258602us-gaap:InterestRateCapMembernni:InterestRateCapMaturingSeptember2020Member2020-06-300001258602us-gaap:InterestRateCapMemberus-gaap:LondonInterbankOfferedRateLIBORMembernni:InterestRateCapMaturingSeptember2020Member2020-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:OneMonthToThreeMonthLiborBasisSwapMember2020-04-012020-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:OneMonthToThreeMonthLiborBasisSwapMember2019-04-012019-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:OneMonthToThreeMonthLiborBasisSwapMember2020-01-012020-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:OneMonthToThreeMonthLiborBasisSwapMember2019-01-012019-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:FixedRateFloorIncomeMember2020-04-012020-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:FixedRateFloorIncomeMember2019-04-012019-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:FixedRateFloorIncomeMember2020-01-012020-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:FixedRateFloorIncomeMember2019-01-012019-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-04-012020-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-04-012019-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-01-012020-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-01-012019-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:InterestrateswapoptionfloorincomehedgesMember2020-04-012020-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:InterestrateswapoptionfloorincomehedgesMember2019-04-012019-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:InterestrateswapoptionfloorincomehedgesMember2020-01-012020-06-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMembernni:InterestrateswapoptionfloorincomehedgesMember2019-01-012019-06-300001258602us-gaap:InterestRateCapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-04-012020-06-300001258602us-gaap:InterestRateCapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-04-012019-06-300001258602us-gaap:InterestRateCapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-01-012020-06-300001258602us-gaap:InterestRateCapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-01-012019-06-300001258602us-gaap:VentureCapitalFundsMemberus-gaap:MiscellaneousInvestmentsMember2020-06-300001258602us-gaap:VentureCapitalFundsMemberus-gaap:MiscellaneousInvestmentsMember2019-12-310001258602us-gaap:MiscellaneousInvestmentsMembernni:RealEstateAndSolarInvestmentMember2020-06-300001258602us-gaap:MiscellaneousInvestmentsMembernni:RealEstateAndSolarInvestmentMember2019-12-310001258602us-gaap:MiscellaneousInvestmentsMembernni:FederallyInsuredLoanSecuritizationMember2020-06-300001258602us-gaap:MiscellaneousInvestmentsMembernni:FederallyInsuredLoanSecuritizationMember2019-12-310001258602us-gaap:MiscellaneousInvestmentsMemberus-gaap:ConsumerLoanMember2020-06-300001258602us-gaap:MiscellaneousInvestmentsMemberus-gaap:ConsumerLoanMember2019-12-310001258602us-gaap:MiscellaneousInvestmentsMembernni:TaxliensandaffordablehousinginvestmentsMember2020-06-300001258602us-gaap:MiscellaneousInvestmentsMembernni:TaxliensandaffordablehousinginvestmentsMember2019-12-310001258602nni:HudlMember2020-05-202020-05-200001258602nni:HudlMember2020-05-190001258602nni:HudlMember2020-04-012020-06-3000012586022020-01-012020-03-310001258602us-gaap:ConsumerLoanMember2020-01-012020-03-310001258602us-gaap:VentureCapitalFundsMember2020-01-012020-03-310001258602us-gaap:CustomerRelationshipsMember2020-06-300001258602us-gaap:CustomerRelationshipsMember2019-12-310001258602us-gaap:CustomerRelationshipsMember2020-01-012020-06-300001258602us-gaap:TradeNamesMember2020-06-300001258602us-gaap:TradeNamesMember2019-12-310001258602us-gaap:TradeNamesMember2020-01-012020-06-300001258602us-gaap:ComputerSoftwareIntangibleAssetMember2020-06-300001258602us-gaap:ComputerSoftwareIntangibleAssetMember2019-12-310001258602us-gaap:ComputerSoftwareIntangibleAssetMember2020-01-012020-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-12-310001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-12-310001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2020-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2019-12-310001258602us-gaap:CorporateNonSegmentMember2020-06-300001258602us-gaap:CorporateNonSegmentMember2019-12-310001258602nni:NonCommunicationsMembernni:ComputerEquipmentAndSoftwareMembersrt:MinimumMember2020-01-012020-06-300001258602nni:NonCommunicationsMembernni:ComputerEquipmentAndSoftwareMembersrt:MaximumMember2020-01-012020-06-300001258602nni:NonCommunicationsMembernni:ComputerEquipmentAndSoftwareMember2020-06-300001258602nni:NonCommunicationsMembernni:ComputerEquipmentAndSoftwareMember2019-12-310001258602nni:NonCommunicationsMemberus-gaap:BuildingMembersrt:MinimumMember2020-01-012020-06-300001258602nni:NonCommunicationsMemberus-gaap:BuildingMembersrt:MaximumMember2020-01-012020-06-300001258602nni:NonCommunicationsMemberus-gaap:BuildingMember2020-06-300001258602nni:NonCommunicationsMemberus-gaap:BuildingMember2019-12-310001258602nni:NonCommunicationsMemberus-gaap:FurnitureAndFixturesMembersrt:MinimumMember2020-01-012020-06-300001258602nni:NonCommunicationsMemberus-gaap:FurnitureAndFixturesMembersrt:MaximumMember2020-01-012020-06-300001258602nni:NonCommunicationsMemberus-gaap:FurnitureAndFixturesMember2020-06-300001258602nni:NonCommunicationsMemberus-gaap:FurnitureAndFixturesMember2019-12-310001258602nni:NonCommunicationsMembersrt:MinimumMemberus-gaap:LeaseholdImprovementsMember2020-01-012020-06-300001258602nni:NonCommunicationsMembersrt:MaximumMemberus-gaap:LeaseholdImprovementsMember2020-01-012020-06-300001258602nni:NonCommunicationsMemberus-gaap:LeaseholdImprovementsMember2020-06-300001258602nni:NonCommunicationsMemberus-gaap:LeaseholdImprovementsMember2019-12-310001258602nni:NonCommunicationsMemberus-gaap:TransportationEquipmentMembersrt:MinimumMember2020-01-012020-06-300001258602nni:NonCommunicationsMemberus-gaap:TransportationEquipmentMembersrt:MaximumMember2020-01-012020-06-300001258602nni:NonCommunicationsMemberus-gaap:TransportationEquipmentMember2020-06-300001258602nni:NonCommunicationsMemberus-gaap:TransportationEquipmentMember2019-12-310001258602us-gaap:LandMembernni:NonCommunicationsMember2020-06-300001258602us-gaap:LandMembernni:NonCommunicationsMember2019-12-310001258602us-gaap:ConstructionInProgressMembernni:NonCommunicationsMember2020-06-300001258602us-gaap:ConstructionInProgressMembernni:NonCommunicationsMember2019-12-310001258602nni:NonCommunicationsMember2020-06-300001258602nni:NonCommunicationsMember2019-12-310001258602nni:NetworkplantandfiberMembersrt:MinimumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602nni:NetworkplantandfiberMembersrt:MaximumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602nni:NetworkplantandfiberMembernni:CommunicationsSegmentMember2020-06-300001258602nni:NetworkplantandfiberMembernni:CommunicationsSegmentMember2019-12-310001258602us-gaap:EquipmentLeasedToOtherPartyMembersrt:MinimumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602us-gaap:EquipmentLeasedToOtherPartyMembersrt:MaximumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602us-gaap:EquipmentLeasedToOtherPartyMembernni:CommunicationsSegmentMember2020-06-300001258602us-gaap:EquipmentLeasedToOtherPartyMembernni:CommunicationsSegmentMember2019-12-310001258602nni:CentralofficeMembersrt:MinimumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602nni:CentralofficeMembersrt:MaximumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602nni:CentralofficeMembernni:CommunicationsSegmentMember2020-06-300001258602nni:CentralofficeMembernni:CommunicationsSegmentMember2019-12-310001258602us-gaap:TransportationEquipmentMembersrt:MinimumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602us-gaap:TransportationEquipmentMembersrt:MaximumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602us-gaap:TransportationEquipmentMembernni:CommunicationsSegmentMember2020-06-300001258602us-gaap:TransportationEquipmentMembernni:CommunicationsSegmentMember2019-12-310001258602nni:ComputerEquipmentAndSoftwareMembersrt:MinimumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602nni:ComputerEquipmentAndSoftwareMembersrt:MaximumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602nni:ComputerEquipmentAndSoftwareMembernni:CommunicationsSegmentMember2020-06-300001258602nni:ComputerEquipmentAndSoftwareMembernni:CommunicationsSegmentMember2019-12-310001258602us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMembersrt:MinimumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMembersrt:MaximumMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMembernni:CommunicationsSegmentMember2020-06-300001258602us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMembernni:CommunicationsSegmentMember2019-12-310001258602us-gaap:LandMembernni:CommunicationsSegmentMember2020-06-300001258602us-gaap:LandMembernni:CommunicationsSegmentMember2019-12-310001258602us-gaap:ConstructionInProgressMembernni:CommunicationsSegmentMember2020-06-300001258602us-gaap:ConstructionInProgressMembernni:CommunicationsSegmentMember2019-12-310001258602nni:CommunicationsSegmentMember2020-06-300001258602nni:CommunicationsSegmentMember2019-12-310001258602nni:CommonShareholdersMember2020-04-012020-06-300001258602nni:UnvestedRestrictedStockShareholdersMember2020-04-012020-06-300001258602nni:CommonShareholdersMember2019-04-012019-06-300001258602nni:UnvestedRestrictedStockShareholdersMember2019-04-012019-06-300001258602nni:CommonShareholdersMember2020-01-012020-06-300001258602nni:UnvestedRestrictedStockShareholdersMember2020-01-012020-06-300001258602nni:CommonShareholdersMember2019-01-012019-06-300001258602nni:UnvestedRestrictedStockShareholdersMember2019-01-012019-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-04-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-04-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2020-04-012020-06-300001258602us-gaap:CorporateNonSegmentMember2020-04-012020-06-300001258602us-gaap:IntersegmentEliminationMember2020-04-012020-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2020-04-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:LoanServicingAndSystemsMember2020-04-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:LoanServicingAndSystemsMember2020-04-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:LoanServicingAndSystemsMember2020-04-012020-06-300001258602us-gaap:CorporateNonSegmentMembernni:LoanServicingAndSystemsMember2020-04-012020-06-300001258602us-gaap:IntersegmentEliminationMembernni:LoanServicingAndSystemsMember2020-04-012020-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-04-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-04-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-04-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-04-012020-06-300001258602us-gaap:CorporateNonSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-04-012020-06-300001258602us-gaap:IntersegmentEliminationMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-04-012020-06-300001258602nni:LoanServicingAndSystemsSegmentMembernni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-04-012020-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-04-012020-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2020-04-012020-06-300001258602nni:CommunicationsServicesMemberus-gaap:CorporateNonSegmentMember2020-04-012020-06-300001258602nni:CommunicationsServicesMemberus-gaap:IntersegmentEliminationMember2020-04-012020-06-300001258602us-gaap:IntersegmentEliminationMember2020-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-04-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-04-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2019-04-012019-06-300001258602us-gaap:CorporateNonSegmentMember2019-04-012019-06-300001258602us-gaap:IntersegmentEliminationMember2019-04-012019-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2019-04-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:LoanServicingAndSystemsMember2019-04-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:LoanServicingAndSystemsMember2019-04-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:LoanServicingAndSystemsMember2019-04-012019-06-300001258602us-gaap:CorporateNonSegmentMembernni:LoanServicingAndSystemsMember2019-04-012019-06-300001258602us-gaap:IntersegmentEliminationMembernni:LoanServicingAndSystemsMember2019-04-012019-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-04-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-04-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-04-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-04-012019-06-300001258602us-gaap:CorporateNonSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-04-012019-06-300001258602us-gaap:IntersegmentEliminationMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-04-012019-06-300001258602nni:LoanServicingAndSystemsSegmentMembernni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-04-012019-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-04-012019-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2019-04-012019-06-300001258602nni:CommunicationsServicesMemberus-gaap:CorporateNonSegmentMember2019-04-012019-06-300001258602nni:CommunicationsServicesMemberus-gaap:IntersegmentEliminationMember2019-04-012019-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2019-06-300001258602us-gaap:CorporateNonSegmentMember2019-06-300001258602us-gaap:IntersegmentEliminationMember2019-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-01-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2020-01-012020-06-300001258602us-gaap:CorporateNonSegmentMember2020-01-012020-06-300001258602us-gaap:IntersegmentEliminationMember2020-01-012020-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2020-01-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:LoanServicingAndSystemsMember2020-01-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:LoanServicingAndSystemsMember2020-01-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:LoanServicingAndSystemsMember2020-01-012020-06-300001258602us-gaap:CorporateNonSegmentMembernni:LoanServicingAndSystemsMember2020-01-012020-06-300001258602us-gaap:IntersegmentEliminationMembernni:LoanServicingAndSystemsMember2020-01-012020-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-01-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-01-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-01-012020-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-01-012020-06-300001258602us-gaap:CorporateNonSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-01-012020-06-300001258602us-gaap:IntersegmentEliminationMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-01-012020-06-300001258602nni:LoanServicingAndSystemsSegmentMembernni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-01-012020-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-01-012020-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2020-01-012020-06-300001258602nni:CommunicationsServicesMemberus-gaap:CorporateNonSegmentMember2020-01-012020-06-300001258602nni:CommunicationsServicesMemberus-gaap:IntersegmentEliminationMember2020-01-012020-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-01-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-01-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2019-01-012019-06-300001258602us-gaap:CorporateNonSegmentMember2019-01-012019-06-300001258602us-gaap:IntersegmentEliminationMember2019-01-012019-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:LoanServicingAndSystemsMember2019-01-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:LoanServicingAndSystemsMember2019-01-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:LoanServicingAndSystemsMember2019-01-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:LoanServicingAndSystemsMember2019-01-012019-06-300001258602us-gaap:CorporateNonSegmentMembernni:LoanServicingAndSystemsMember2019-01-012019-06-300001258602us-gaap:IntersegmentEliminationMembernni:LoanServicingAndSystemsMember2019-01-012019-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-01-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-01-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-01-012019-06-300001258602us-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-01-012019-06-300001258602us-gaap:CorporateNonSegmentMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-01-012019-06-300001258602us-gaap:IntersegmentEliminationMembernni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-01-012019-06-300001258602nni:LoanServicingAndSystemsSegmentMembernni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-01-012019-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-01-012019-06-300001258602nni:CommunicationsServicesMemberus-gaap:OperatingSegmentsMembernni:AssetGenerationAndManagementSegmentMember2019-01-012019-06-300001258602nni:CommunicationsServicesMemberus-gaap:CorporateNonSegmentMember2019-01-012019-06-300001258602nni:CommunicationsServicesMemberus-gaap:IntersegmentEliminationMember2019-01-012019-06-300001258602nni:GovernmentServicingNelnetMember2020-04-012020-06-300001258602nni:GovernmentServicingNelnetMember2019-04-012019-06-300001258602nni:GovernmentServicingNelnetMember2020-01-012020-06-300001258602nni:GovernmentServicingNelnetMember2019-01-012019-06-300001258602nni:GovernmentServicingGreatLakesMember2020-04-012020-06-300001258602nni:GovernmentServicingGreatLakesMember2019-04-012019-06-300001258602nni:GovernmentServicingGreatLakesMember2020-01-012020-06-300001258602nni:GovernmentServicingGreatLakesMember2019-01-012019-06-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2020-04-012020-06-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2019-04-012019-06-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2020-01-012020-06-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2019-01-012019-06-300001258602nni:FFELPServicingMember2020-04-012020-06-300001258602nni:FFELPServicingMember2019-04-012019-06-300001258602nni:FFELPServicingMember2020-01-012020-06-300001258602nni:FFELPServicingMember2019-01-012019-06-300001258602nni:SoftwareServicesMember2020-04-012020-06-300001258602nni:SoftwareServicesMember2019-04-012019-06-300001258602nni:SoftwareServicesMember2020-01-012020-06-300001258602nni:SoftwareServicesMember2019-01-012019-06-300001258602nni:OutsourcedServicesRevenueAndOtherMember2020-04-012020-06-300001258602nni:OutsourcedServicesRevenueAndOtherMember2019-04-012019-06-300001258602nni:OutsourcedServicesRevenueAndOtherMember2020-01-012020-06-300001258602nni:OutsourcedServicesRevenueAndOtherMember2019-01-012019-06-300001258602nni:LoanServicingAndSystemsRevenueMember2020-04-012020-06-300001258602nni:LoanServicingAndSystemsRevenueMember2019-04-012019-06-300001258602nni:LoanServicingAndSystemsRevenueMember2020-01-012020-06-300001258602nni:LoanServicingAndSystemsRevenueMember2019-01-012019-06-300001258602nni:TuitionPaymentPlanServicesMember2020-04-012020-06-300001258602nni:TuitionPaymentPlanServicesMember2019-04-012019-06-300001258602nni:TuitionPaymentPlanServicesMember2020-01-012020-06-300001258602nni:TuitionPaymentPlanServicesMember2019-01-012019-06-300001258602nni:PaymentProcessingMember2020-04-012020-06-300001258602nni:PaymentProcessingMember2019-04-012019-06-300001258602nni:PaymentProcessingMember2020-01-012020-06-300001258602nni:PaymentProcessingMember2019-01-012019-06-300001258602nni:EducationTechnologyAndServicesMember2020-04-012020-06-300001258602nni:EducationTechnologyAndServicesMember2019-04-012019-06-300001258602nni:EducationTechnologyAndServicesMember2020-01-012020-06-300001258602nni:EducationTechnologyAndServicesMember2019-01-012019-06-300001258602nni:OtherServiceOfferingMember2020-04-012020-06-300001258602nni:OtherServiceOfferingMember2019-04-012019-06-300001258602nni:OtherServiceOfferingMember2020-01-012020-06-300001258602nni:OtherServiceOfferingMember2019-01-012019-06-300001258602nni:InternetMember2020-04-012020-06-300001258602nni:InternetMember2019-04-012019-06-300001258602nni:InternetMember2020-01-012020-06-300001258602nni:InternetMember2019-01-012019-06-300001258602nni:TelevisionMember2020-04-012020-06-300001258602nni:TelevisionMember2019-04-012019-06-300001258602nni:TelevisionMember2020-01-012020-06-300001258602nni:TelevisionMember2019-01-012019-06-300001258602nni:TelephoneMember2020-04-012020-06-300001258602nni:TelephoneMember2019-04-012019-06-300001258602nni:TelephoneMember2020-01-012020-06-300001258602nni:TelephoneMember2019-01-012019-06-300001258602nni:OtherCommunicationRevenueMember2020-04-012020-06-300001258602nni:OtherCommunicationRevenueMember2019-04-012019-06-300001258602nni:OtherCommunicationRevenueMember2020-01-012020-06-300001258602nni:OtherCommunicationRevenueMember2019-01-012019-06-300001258602nni:CommunicationRevenueServiceOfferingMember2020-04-012020-06-300001258602nni:CommunicationRevenueServiceOfferingMember2019-04-012019-06-300001258602nni:CommunicationRevenueServiceOfferingMember2020-01-012020-06-300001258602nni:CommunicationRevenueServiceOfferingMember2019-01-012019-06-300001258602nni:ResidentialRevenueMember2020-04-012020-06-300001258602nni:ResidentialRevenueMember2019-04-012019-06-300001258602nni:ResidentialRevenueMember2020-01-012020-06-300001258602nni:ResidentialRevenueMember2019-01-012019-06-300001258602nni:BusinessRevenueMember2020-04-012020-06-300001258602nni:BusinessRevenueMember2019-04-012019-06-300001258602nni:BusinessRevenueMember2020-01-012020-06-300001258602nni:BusinessRevenueMember2019-01-012019-06-300001258602nni:OtherCustomerRevenueMember2020-04-012020-06-300001258602nni:OtherCustomerRevenueMember2019-04-012019-06-300001258602nni:OtherCustomerRevenueMember2020-01-012020-06-300001258602nni:OtherCustomerRevenueMember2019-01-012019-06-300001258602nni:CommunicationsRevenueCustomerMember2020-04-012020-06-300001258602nni:CommunicationsRevenueCustomerMember2019-04-012019-06-300001258602nni:CommunicationsRevenueCustomerMember2020-01-012020-06-300001258602nni:CommunicationsRevenueCustomerMember2019-01-012019-06-300001258602us-gaap:InvestmentAdviceMember2020-04-012020-06-300001258602us-gaap:InvestmentAdviceMember2019-04-012019-06-300001258602us-gaap:InvestmentAdviceMember2020-01-012020-06-300001258602us-gaap:InvestmentAdviceMember2019-01-012019-06-300001258602us-gaap:AdministrativeServiceMember2020-04-012020-06-300001258602us-gaap:AdministrativeServiceMember2019-04-012019-06-300001258602us-gaap:AdministrativeServiceMember2020-01-012020-06-300001258602us-gaap:AdministrativeServiceMember2019-01-012019-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-03-310001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-03-310001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-03-310001258602us-gaap:CorporateNonSegmentMember2020-03-310001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-03-310001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-03-310001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-03-310001258602us-gaap:CorporateNonSegmentMember2019-03-310001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2018-12-310001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2018-12-310001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2018-12-310001258602us-gaap:CorporateNonSegmentMember2018-12-310001258602nni:GovernmentServicingNelnetMemberus-gaap:CustomerConcentrationRiskMember2020-04-012020-06-300001258602nni:GovernmentServicingNelnetMemberus-gaap:CustomerConcentrationRiskMember2019-04-012019-06-300001258602nni:GovernmentServicingNelnetMemberus-gaap:CustomerConcentrationRiskMember2020-01-012020-06-300001258602nni:GovernmentServicingNelnetMemberus-gaap:CustomerConcentrationRiskMember2019-01-012019-06-300001258602nni:GreatLakesEducationalLoanServiceMember2020-04-012020-06-300001258602nni:GreatLakesEducationalLoanServiceMember2019-04-012019-06-300001258602nni:GreatLakesEducationalLoanServiceMember2020-01-012020-06-300001258602nni:GreatLakesEducationalLoanServiceMember2019-01-012019-06-30nni:extensionOption0001258602us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2020-06-300001258602us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMember2020-06-300001258602us-gaap:AssetBackedSecuritiesMember2020-06-300001258602us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2019-12-310001258602us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMember2019-12-310001258602us-gaap:AssetBackedSecuritiesMember2019-12-310001258602us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel1Member2020-06-300001258602us-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMember2020-06-300001258602us-gaap:EquitySecuritiesMember2020-06-300001258602us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel1Member2019-12-310001258602us-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMember2019-12-310001258602us-gaap:EquitySecuritiesMember2019-12-310001258602nni:AlternativeInvestmentMember2020-06-300001258602nni:AlternativeInvestmentMember2019-12-310001258602us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2020-06-300001258602us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMember2020-06-300001258602us-gaap:DebtSecuritiesMember2020-06-300001258602us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2019-12-310001258602us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMember2019-12-310001258602us-gaap:DebtSecuritiesMember2019-12-310001258602us-gaap:FairValueInputsLevel1Member2020-06-300001258602us-gaap:FairValueInputsLevel2Member2020-06-300001258602us-gaap:FairValueInputsLevel1Member2019-12-310001258602us-gaap:FairValueInputsLevel2Member2019-12-310001258602us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001258602us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-06-300001258602us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001258602us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001258602us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001258602us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001258602us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001258602us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001258602us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001258602us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-31


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020 
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from  to . 
Commission File Number: 001-31924
NELNET, INC.
(Exact name of registrant as specified in its charter)
Nebraska
84-0748903
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
121 South 13th Street, Suite 100
Lincoln,Nebraska68508
(Address of principal executive offices)
(Zip Code)
(402) 458-2370
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Class A Common Stock, Par Value $0.01 per ShareNNINew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.        Yes No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).        Yes No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer                                                Accelerated filer
Non-accelerated filer      Smaller reporting company
  Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  No
As of July 31, 2020, there were 27,152,828 and 11,171,609 shares of Class A Common Stock and Class B Common Stock, par value $0.01 per share, outstanding, respectively (excluding a total of 11,305,731 shares of Class A Common Stock held by wholly owned subsidiaries).




NELNET, INC.
FORM 10-Q
INDEX
June 30, 2020


 
 Item 1.
 Item 2.
 Item 3.
 Item 4.
    
 
Item 1.
 Item 1A.
 Item 2.
 Item 6.
    
 






PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

NELNET, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except share data)
(unaudited)
 
As of
As of
 June 30, 2020December 31, 2019
Assets:  
Loans and accrued interest receivable (net of allowance for loan losses of $209,445 and
   $61,914, respectively)
$20,460,873  21,402,868  
Cash and cash equivalents:  
Cash and cash equivalents - not held at a related party14,242  13,922  
Cash and cash equivalents - held at a related party53,298  119,984  
Total cash and cash equivalents67,540  133,906  
Investments 449,700  247,099  
Restricted cash585,236  650,939  
Restricted cash - due to customers268,539  437,756  
Accounts receivable (net of allowance for doubtful accounts of $3,901 and $4,455, respectively)
73,783  115,391  
Goodwill156,912  156,912  
Intangible assets, net66,733  81,532  
Property and equipment, net350,043  348,259  
Other assets131,849  134,308  
Total assets$22,611,208  23,708,970  
Liabilities:  
Bonds and notes payable$19,726,158  20,529,054  
Accrued interest payable32,760  47,285  
Other liabilities242,965  303,781  
Due to customers268,539  437,756  
Total liabilities20,270,422  21,317,876  
Commitments and contingencies
Equity:
  Nelnet, Inc. shareholders' equity:  
Preferred stock, $0.01 par value. Authorized 50,000,000 shares; no shares issued or outstanding
    
Common stock:
Class A, $0.01 par value. Authorized 600,000,000 shares; issued and outstanding 27,232,836
     shares and 28,458,495 shares, respectively
272  285  
Class B, convertible, $0.01 par value. Authorized 60,000,000 shares; issued and outstanding
     11,171,609 shares and 11,271,609 shares, respectively
112  113  
Additional paid-in capital1,867  5,715  
Retained earnings2,331,312  2,377,627  
Accumulated other comprehensive earnings3,233  2,972  
Total Nelnet, Inc. shareholders' equity2,336,796  2,386,712  
Noncontrolling interests3,990  4,382  
Total equity2,340,786  2,391,094  
Total liabilities and equity$22,611,208  23,708,970  
Supplemental information - assets and liabilities of consolidated education and other lending variable interest entities:
Loans and accrued interest receivable$20,488,321  21,399,382  
Restricted cash567,064  639,816  
Other assets30  31  
Bonds and notes payable(19,856,362) (20,742,798) 
Accrued interest payable and other liabilities (97,523) (162,494) 
Net assets of consolidated education and other lending variable interest entities$1,101,530  1,133,937  
See accompanying notes to consolidated financial statements.
2



NELNET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except share data)
(unaudited)
 Three months endedSix months ended
 June 30,June 30,
 2020201920202019
Interest income:  
Loan interest$146,140  238,222  327,933  480,555  
Investment interest5,743  8,566  13,141  16,819  
Total interest income151,883  246,788  341,074  497,374  
Interest expense: 
Interest on bonds and notes payable85,248  186,963  219,366  378,733  
Net interest income66,635  59,825  121,708  118,641  
Less provision for loan losses2,999  9,000  79,297  16,000  
Net interest income after provision for loan losses63,636  50,825  42,411  102,641  
Other income/expense: 
Loan servicing and systems revenue111,042  113,985  223,778  228,883  
Education technology, services, and payment processing revenue
59,304  60,342  142,979  139,502  
Communications revenue18,998  15,758  37,179  30,300  
Gain on sale of loans  1,712  18,206  1,712  
Other income60,127  14,440  68,408  23,507  
Impairment expense(332)   (34,419)   
Derivative market value adjustments and derivative settlements, net
1,910  (24,088) (14,455) (35,628) 
Total other income/expense251,049  182,149  441,676  388,276  
Cost of services:
Cost to provide education technology, services, and payment processing services
15,376  15,871  38,181  36,930  
Cost to provide communications services5,743  5,101  11,325  9,860  
Total cost of services21,119  20,972  49,506  46,790  
Operating expenses:  
Salaries and benefits119,247  111,214  239,125  222,272  
Depreciation and amortization29,393  24,484  57,041  48,697  
Other expenses37,052  45,417  80,439  89,233  
Total operating expenses185,692  181,115  376,605  360,202  
Income before income taxes107,874  30,887  57,976  83,925  
Income tax expense21,264  6,209  11,131  17,600  
Net income86,610  24,678  46,845  66,325  
Net income attributable to noncontrolling interests
(128) (59) (895) (115) 
Net income attributable to Nelnet, Inc.
$86,482  24,619  45,950  66,210  
Earnings per common share:
Net income attributable to Nelnet, Inc. shareholders - basic and diluted
$2.21  0.61  1.16  1.65  
Weighted average common shares outstanding - basic and diluted
39,203,404  40,050,065  39,579,459  40,210,787  

See accompanying notes to consolidated financial statements.
3



NELNET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Dollars in thousands)
(unaudited)
Three months endedSix months ended
June 30,June 30,
2020201920202019
Net income$86,610  24,678  46,845  66,325  
Other comprehensive income (loss):
Available-for-sale securities:
Unrealized holding gains (losses) arising during period, net3,236  (537) 221  (972) 
Reclassification adjustment for (gains) losses recognized in net income, net
(112)   123    
Income tax effect(750) 129  (83) 233  
Total other comprehensive income (loss)2,374  (408) 261  (739) 
Comprehensive income88,984  24,270  47,106  65,586  
Comprehensive income attributable to noncontrolling interests(128) (59) (895) (115) 
Comprehensive income attributable to Nelnet, Inc.$88,856  24,211  46,211  65,471  

See accompanying notes to consolidated financial statements.
4



NELNET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
(Dollars in thousands, except share data)
(unaudited)
 
Nelnet, Inc. Shareholders
 Preferred stock sharesCommon stock sharesPreferred stockClass A common stockClass B common stockAdditional paid-in capital Retained earningsAccumulated other comprehensive (loss) earningsNoncontrolling interestsTotal equity
 Class AClass B
Balance as of March 31, 2019  28,628,528  11,459,641  $  286  115  636  2,321,407  3,552  4,298  2,330,294  
Issuance of noncontrolling interests—  —  —  —  —  —  —  —  —  26  26  
Net income—  —  —  —  —  —  —  24,619  —  59  24,678  
Other comprehensive loss—  —  —  —  —  —  —  —  (408) —  (408) 
Distribution to noncontrolling interests—  —  —  —  —  —  —  —  —  (91) (91) 
Cash dividends on Class A and Class B common stock - $0.18 per share
—  —  —  —  —  —  —  (7,172) —  —  (7,172) 
Issuance of common stock, net of forfeitures—  10,138  —  —  —  —  1,384  —  —  —  1,384  
Compensation expense for stock based awards—  —  —  —  —  —  1,590  —  —  —  1,590  
Repurchase of common stock—  (419,140) —  —  (4) —  (1,940) (21,739) —  —  (23,683) 
Conversion of common stock—  180,000  (180,000) —  2  (2) —  —  —  —    
Balance as of June 30, 2019  28,399,526  11,279,641  $  284  113  1,670  2,317,115  3,144  4,292  2,326,618  
Balance as of March 31, 2020  28,582,032  11,271,609  $  286  113  9,140  2,310,282  859  5,120  2,325,800  
Issuance of noncontrolling interests—  —  —  —  —  —  —  —  —  26  26  
Net income—  —  —  —  —  —  —  86,482  —  128  86,610  
Other comprehensive income—  —  —  —  —  —  —  —  2,374  —  2,374  
Distribution to noncontrolling interests—  —  —  —  —  —  —  —  —  (534) (534) 
Cash dividends on Class A and Class B common stock - $0.20 per share
—  —  —  —  —  —  —  (7,733) —  —  (7,733) 
Issuance of common stock, net of forfeitures—  23,853  —  —  —  —  1,660  —  —  —  1,660  
Compensation expense for stock based awards—  —  —  —  —  —  1,857  —  —  —  1,857  
Repurchase of common stock—  (1,473,049) —  —  (15) —  (10,790) (56,469) —  —  (67,274) 
Conversion of common stock—