nni-20200930
--12-31false00012586022020Q3us-gaap:AccountingStandardsUpdate201613Memberus-gaap:AccountingStandardsUpdate201613Memberus-gaap:AccountingStandardsUpdate201613MemberP5D00012586022020-01-012020-09-30xbrli:shares0001258602us-gaap:CommonClassAMember2020-10-310001258602us-gaap:CommonClassBMember2020-10-31iso4217:USD00012586022020-09-3000012586022019-12-31iso4217:USDxbrli:shares0001258602us-gaap:CommonClassAMember2020-09-300001258602us-gaap:CommonClassAMember2019-12-310001258602us-gaap:CommonClassBMember2020-09-300001258602us-gaap:CommonClassBMember2019-12-310001258602us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-09-300001258602us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2019-12-3100012586022020-07-012020-09-3000012586022019-07-012019-09-3000012586022019-01-012019-09-300001258602nni:LoanServicingAndSystemsMember2020-07-012020-09-300001258602nni:LoanServicingAndSystemsMember2019-07-012019-09-300001258602nni:LoanServicingAndSystemsMember2020-01-012020-09-300001258602nni:LoanServicingAndSystemsMember2019-01-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-07-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-07-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2020-01-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMember2019-01-012019-09-300001258602nni:CommunicationsServicesMember2020-07-012020-09-300001258602nni:CommunicationsServicesMember2019-07-012019-09-300001258602nni:CommunicationsServicesMember2020-01-012020-09-300001258602nni:CommunicationsServicesMember2019-01-012019-09-300001258602us-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:NoncontrollingInterestMember2019-07-012019-09-300001258602us-gaap:RetainedEarningsMember2019-07-012019-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-07-012019-09-300001258602us-gaap:CommonClassBMember2019-07-012019-09-300001258602us-gaap:CommonClassAMember2019-07-012019-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-07-012019-09-300001258602us-gaap:AdditionalPaidInCapitalMember2019-07-012019-09-300001258602us-gaap:PreferredStockMember2019-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2019-09-300001258602us-gaap:AdditionalPaidInCapitalMember2019-09-300001258602us-gaap:RetainedEarningsMember2019-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-09-300001258602us-gaap:NoncontrollingInterestMember2019-09-3000012586022019-09-300001258602us-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:NoncontrollingInterestMember2020-06-3000012586022020-06-300001258602us-gaap:NoncontrollingInterestMember2020-07-012020-09-300001258602us-gaap:RetainedEarningsMember2020-07-012020-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300001258602us-gaap:CommonClassAMember2020-07-012020-09-300001258602us-gaap:CommonClassBMember2020-07-012020-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2020-07-012020-09-300001258602us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300001258602us-gaap:PreferredStockMember2020-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2020-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2020-09-300001258602us-gaap:AdditionalPaidInCapitalMember2020-09-300001258602us-gaap:RetainedEarningsMember2020-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300001258602us-gaap:NoncontrollingInterestMember2020-09-300001258602us-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:NoncontrollingInterestMember2019-01-012019-09-300001258602us-gaap:RetainedEarningsMember2019-01-012019-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-09-300001258602us-gaap:CommonClassBMember2019-01-012019-09-300001258602us-gaap:CommonClassAMember2019-01-012019-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-01-012019-09-300001258602us-gaap:AdditionalPaidInCapitalMember2019-01-012019-09-300001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:NoncontrollingInterestMember2018-12-310001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2019-01-012019-09-300001258602us-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:NoncontrollingInterestMember2020-01-012020-09-300001258602us-gaap:RetainedEarningsMember2020-01-012020-09-300001258602us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300001258602us-gaap:CommonClassAMember2020-01-012020-09-300001258602us-gaap:CommonClassBMember2020-01-012020-09-300001258602us-gaap:CommonStockMemberus-gaap:CommonClassAMember2020-01-012020-09-300001258602us-gaap:AdditionalPaidInCapitalMember2020-01-012020-09-300001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2019-12-310001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310001258602us-gaap:CommonStockMemberus-gaap:CommonClassBMember2020-01-012020-09-300001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-01-010001258602srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2019-12-310001258602nni:StudentLoanStaffordAndOtherMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-09-300001258602nni:StudentLoanStaffordAndOtherMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:StudentLoanConsolidationLoanMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-09-300001258602nni:StudentLoanConsolidationLoanMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2020-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-12-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2020-09-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2019-12-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2020-01-302020-01-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2020-07-292020-07-29xbrli:pure00012586022020-07-292020-07-290001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2020-06-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2020-07-012020-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-07-012020-09-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2020-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2020-07-012020-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2019-06-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2019-07-012019-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2019-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-06-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-07-012019-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-09-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2019-06-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2019-07-012019-09-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2019-09-300001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2020-01-012020-09-300001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-01-012020-09-300001258602srt:CumulativeEffectPeriodOfAdoptionAdjustmentMembernni:ConsumerPortfolioSegmentConsumerLoansMember2019-12-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2020-01-012020-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2018-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMember2019-01-012019-09-300001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2018-12-310001258602nni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-01-012019-09-300001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2018-12-310001258602nni:ConsumerPortfolioSegmentConsumerLoansMember2019-01-012019-09-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-09-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-09-300001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-09-300001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-09-300001258602nni:Financingreceivables91120dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-09-300001258602nni:Financingreceivables91120dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:Financingreceivables91120dayspastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMembernni:Financingreceivables121270dayspastdueMember2020-09-300001258602nni:ConsumerPortfolioSegmentFederallyInsuredMembernni:Financingreceivables121270dayspastdueMember2019-12-310001258602nni:ConsumerPortfolioSegmentFederallyInsuredMembernni:Financingreceivables121270dayspastdueMember2019-09-300001258602nni:Financingreceivables271daysorgreaterpastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2020-09-300001258602nni:Financingreceivables271daysorgreaterpastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-12-310001258602nni:Financingreceivables271daysorgreaterpastdueMembernni:ConsumerPortfolioSegmentFederallyInsuredMember2019-09-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-09-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-12-310001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-09-300001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-09-300001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-12-310001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-09-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-09-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-12-310001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2019-09-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-09-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2019-12-310001258602nni:FinancingReceivables31To60DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2019-09-300001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-09-300001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2019-12-310001258602nni:FinancingReceivables61to90DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2019-09-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-09-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2019-12-310001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:ConsumerPortfolioSegmentConsumerLoansMember2019-09-300001258602nni:StudentLoanGraceOrDefermentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-09-300001258602nni:StudentLoanForbearanceMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-09-300001258602nni:FinancingReceivableNotPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-09-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-09-300001258602nni:FinancingReceivables61to90DaysPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-09-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-09-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentPrivateEducationLoansMember2020-09-300001258602nni:FinancingReceivableNotPastDueMembernni:StudentLoanGraceOrDefermentMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-09-300001258602nni:FinancingReceivableNotPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-09-300001258602nni:FinancingReceivables31To60DaysPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-09-300001258602nni:FinancingReceivables61to90DaysPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-09-300001258602nni:FinancingReceivablesEqualtoGreaterthan91DaysPastDueMembernni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-09-300001258602nni:StudentLoanInRepaymentMembernni:ConsumerPortfolioSegmentConsumerLoansMember2020-09-300001258602nni:FederallyInsuredStudentLoansMembernni:BondsandnotesbasedonindicesMember2020-09-300001258602nni:FederallyInsuredStudentLoansMembernni:BondsandnotesbasedonindicesMembersrt:MinimumMember2020-09-300001258602nni:FederallyInsuredStudentLoansMembersrt:MaximumMembernni:BondsandnotesbasedonindicesMember2020-09-300001258602nni:FederallyInsuredStudentLoansMembernni:BondsAndNotesBasedOnAuctionOrRemarketingMember2020-09-300001258602nni:FederallyInsuredStudentLoansMembernni:BondsAndNotesBasedOnAuctionOrRemarketingMembersrt:MinimumMember2020-09-300001258602nni:FederallyInsuredStudentLoansMembersrt:MaximumMembernni:BondsAndNotesBasedOnAuctionOrRemarketingMember2020-09-300001258602nni:FederallyInsuredStudentLoansMembernni:VariableRateBondsAndNotesMember2020-09-300001258602nni:FixedRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMember2020-09-300001258602nni:FixedRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMembersrt:MinimumMember2020-09-300001258602nni:FixedRateBondsAndNotesMembernni:FederallyInsuredStudentLoansMembersrt:MaximumMember2020-09-300001258602nni:FederallyInsuredStudentLoansMemberus-gaap:WarehouseAgreementBorrowingsMember2020-09-300001258602nni:FederallyInsuredStudentLoansMemberus-gaap:WarehouseAgreementBorrowingsMembersrt:MinimumMember2020-09-300001258602nni:FederallyInsuredStudentLoansMembersrt:MaximumMemberus-gaap:WarehouseAgreementBorrowingsMember2020-09-300001258602nni:PrivateeducationloansMemberus-gaap:WarehouseAgreementBorrowingsMember2020-09-300001258602us-gaap:ConsumerLoanMemberus-gaap:WarehouseAgreementBorrowingsMember2020-09-300001258602nni:PrivateeducationloansMembernni:VariableRateBondsAndNotesMember2020-09-300001258602nni:PrivateeducationloansMembernni:VariableRateBondsAndNotesMembersrt:MinimumMember2020-09-300001258602nni:PrivateeducationloansMembernni:VariableRateBondsAndNotesMembersrt:MaximumMember2020-09-300001258602nni:FixedRateBondsAndNotesMembernni:PrivateeducationloansMember2020-09-300001258602nni:FixedRateBondsAndNotesMembernni:PrivateeducationloansMembersrt:MinimumMember2020-09-300001258602nni:FixedRateBondsAndNotesMembernni:PrivateeducationloansMembersrt:MaximumMember2020-09-300001258602us-gaap:LineOfCreditMember2020-09-300001258602us-gaap:JuniorSubordinatedDebtMember2020-09-300001258602us-gaap:NotesPayableOtherPayablesMember2020-09-300001258602us-gaap:NotesPayableOtherPayablesMembersrt:MinimumMember2020-09-300001258602srt:MaximumMemberus-gaap:NotesPayableOtherPayablesMember2020-09-300001258602nni:FederallyInsuredStudentLoansMembernni:BondsandnotesbasedonindicesMember2019-12-310001258602nni:FederallyInsuredStudentLoansMembernni:BondsandnotesbasedonindicesMembersrt:MinimumMember2019-12-310001258602nni:FederallyInsuredStudentLoansMembersrt:MaximumMembernni:BondsandnotesbasedonindicesMember2019-12-310001258602nni:FederallyInsuredStudentLoansMembernni:BondsAndNotesBasedOnAuctionOrRemarketingMember2019-12-310001258602nni:FederallyInsuredStudentLoansMembernni:BondsAndNotesBasedOnAuctionOrRemarketingMembersrt:MinimumMember2019-12-310001258602nni:FederallyInsuredStudentLoansMembersrt:MaximumMembernni:BondsAndNotesBasedOnAuctionOrRemarketingMember2019-12-310001258602nni:FederallyInsuredStudentLoansMembernni:VariableRateBondsAndNotesMember2019-12-310001258602nni: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:FederallyInsuredStudentLoansMembersrt:MaximumMemberus-gaap:WarehouseAgreementBorrowingsMember2019-12-310001258602us-gaap:ConsumerLoanMemberus-gaap:WarehouseAgreementBorrowingsMember2019-12-310001258602nni:PrivateeducationloansMembernni:VariableRateBondsAndNotesMember2019-12-310001258602nni:PrivateeducationloansMembernni:VariableRateBondsAndNotesMembersrt:MinimumMember2019-12-310001258602nni:PrivateeducationloansMembernni:VariableRateBondsAndNotesMembersrt: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:WarehouseAgreementBorrowingsMember2020-09-300001258602nni:NhelpIiWarehouseMembernni:FederallyInsuredStudentLoansMemberus-gaap:WarehouseAgreementBorrowingsMember2020-09-300001258602nni:NhelpIiWarehouseMembernni:FederallyInsuredStudentLoansMemberus-gaap:SubsequentEventMemberus-gaap:WarehouseAgreementBorrowingsMember2020-11-020001258602nni:NfslwIWarehouseMembernni:FederallyInsuredStudentLoansMemberus-gaap:SubsequentEventMemberus-gaap:WarehouseAgreementBorrowingsMember2020-11-020001258602us-gaap:SecuredDebtMembernni:Notes20201Member2020-09-300001258602nni:Notes20202Memberus-gaap:SecuredDebtMember2020-09-300001258602nni:Notes20203Memberus-gaap:SecuredDebtMember2020-09-300001258602nni:Notes20204Memberus-gaap:SecuredDebtMember2020-09-300001258602us-gaap:SecuredDebtMembernni:Notes2020Member2020-09-300001258602us-gaap:SeniorNotesMembernni:ClassA20201NotesMember2020-09-300001258602nni:ClassA20202NotesMemberus-gaap:SeniorNotesMember2020-09-300001258602nni:ClassA20203NotesMemberus-gaap:SeniorNotesMember2020-09-300001258602nni:ClassA20204NotesMemberus-gaap:SeniorNotesMember2020-09-300001258602us-gaap:SeniorNotesMembernni:ClassANotes2020Member2020-09-300001258602us-gaap:SeniorNotesMembernni:ClassA20201NotesMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-09-300001258602nni:ClassA20203NotesMemberus-gaap:SeniorNotesMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-09-300001258602nni:ClassB20201NotesMemberus-gaap:SubordinatedDebtMember2020-09-300001258602nni:ClassB20202NotesMemberus-gaap:SubordinatedDebtMember2020-09-300001258602us-gaap:SubordinatedDebtMembernni:ClassB20203NotesMember2020-09-300001258602nni:ClassB2020NotesMemberus-gaap:SubordinatedDebtMember2020-09-300001258602nni:ClassB20201NotesMemberus-gaap:SubordinatedDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-09-300001258602us-gaap:SubordinatedDebtMembernni:ClassB20203NotesMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-09-300001258602nni:AssetBackedSecuritiesUnderlyingClassB20204SubordinatedDebtMember2020-09-300001258602us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember2020-09-300001258602nni:PrivateLoanWarehouseFacilityMemberus-gaap:WarehouseAgreementBorrowingsMember2020-02-130001258602nni:PrivateLoanWarehouseFacilityMemberus-gaap:WarehouseAgreementBorrowingsMember2020-03-200001258602nni:PrivateLoanWarehouseFacilityMemberus-gaap:WarehouseAgreementBorrowingsMembersrt:MinimumMember2020-01-012020-09-300001258602nni:PrivateLoanWarehouseFacilityMemberus-gaap:WarehouseAgreementBorrowingsMembersrt:MaximumMember2020-01-012020-09-300001258602nni:PrivateLoanWarehouseFacilityMemberus-gaap:WarehouseAgreementBorrowingsMember2020-09-300001258602us-gaap:WarehouseAgreementBorrowingsMembernni:ConsumerLoanWarehouseFacilityMember2020-09-300001258602us-gaap:WarehouseAgreementBorrowingsMembernni:ConsumerLoanWarehouseFacilityMembersrt:MinimumMember2020-01-012020-09-300001258602us-gaap:WarehouseAgreementBorrowingsMembersrt:MaximumMembernni:ConsumerLoanWarehouseFacilityMember2020-01-012020-09-300001258602us-gaap:WarehouseAgreementBorrowingsMemberus-gaap:SubsequentEventMembernni:ConsumerLoanWarehouseFacilityMember2020-11-030001258602nni:UnsecuredLineofCreditMember2020-09-300001258602us-gaap:SubsequentEventMemberus-gaap:JuniorSubordinatedDebtMember2020-10-012020-11-050001258602nni:OneMonthtoThreeMonthBasisSwapOutstanding1Membernni:OneMonthToThreeMonthLiborBasisSwapMember2020-09-300001258602nni:OneMonthtoThreeMonthBasisSwapOutstanding1Membernni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding2Member2020-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding2Member2019-12-310001258602nni:OneMonthToThreeMonthBasisSwapOutstanding3Membernni:OneMonthToThreeMonthLiborBasisSwapMember2020-09-300001258602nni:OneMonthToThreeMonthBasisSwapOutstanding3Membernni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding4Member2020-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding4Member2019-12-310001258602nni:OneMonthToThreeMonthBasisSwapOutstanding5Membernni:OneMonthToThreeMonthLiborBasisSwapMember2020-09-300001258602nni:OneMonthToThreeMonthBasisSwapOutstanding5Membernni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding6Member2020-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding6Member2019-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding7Member2020-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstanding7Member2019-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMember2020-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMember2019-12-310001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:OneMonthToThreeMonthBasisSwapOutstandingEffectiveStartDateMay2020Member2020-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMemberus-gaap:LondonInterbankOfferedRateLIBORMember2019-12-310001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2020MaturityMemberus-gaap:InterestRateSwapMember2020-09-300001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2020MaturityMemberus-gaap:InterestRateSwapMember2019-12-310001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2021MaturityMemberus-gaap:InterestRateSwapMember2020-09-300001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2021MaturityMemberus-gaap:InterestRateSwapMember2019-12-310001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2022MaturityMemberus-gaap:InterestRateSwapMember2020-09-300001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2022MaturityMemberus-gaap:InterestRateSwapMember2019-12-310001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2023MaturityMemberus-gaap:InterestRateSwapMember2020-09-300001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2023MaturityMemberus-gaap:InterestRateSwapMember2019-12-310001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2024MaturityMemberus-gaap:InterestRateSwapMember2020-09-300001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2024MaturityMemberus-gaap:InterestRateSwapMember2019-12-310001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMember2020-09-300001258602nni:FixedRateFloorIncomeMemberus-gaap:InterestRateSwapMember2019-12-310001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2022MaturityMembernni:InterestRateSwapForwardEffectiveDateJune2021Member2019-12-310001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2022MaturityMembernni:InterestRateSwapForwardEffectiveDateJune2021Member2020-09-300001258602nni:FixedRateFloorIncomeMembernni:FixedRateFloorIncomeInterestRateSwap2022MaturityMembernni:InterestRateSwapsExcludingDerivativesWithForwardEffectiveStartDatesMember2020-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-07-012020-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-07-012019-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-01-012020-09-300001258602nni:OneMonthToThreeMonthLiborBasisSwapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-01-012019-09-300001258602nni:FixedRateFloorIncomeMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-07-012020-09-300001258602nni:FixedRateFloorIncomeMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-07-012019-09-300001258602nni:FixedRateFloorIncomeMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-01-012020-09-300001258602nni:FixedRateFloorIncomeMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-01-012019-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-07-012020-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-07-012019-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-01-012020-09-300001258602nni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-01-012019-09-300001258602nni:InterestrateswapoptionfloorincomehedgesMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-07-012020-09-300001258602nni:InterestrateswapoptionfloorincomehedgesMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-07-012019-09-300001258602nni:InterestrateswapoptionfloorincomehedgesMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-01-012020-09-300001258602nni:InterestrateswapoptionfloorincomehedgesMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-01-012019-09-300001258602us-gaap:InterestRateCapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-07-012020-09-300001258602us-gaap:InterestRateCapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-07-012019-09-300001258602us-gaap:InterestRateCapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2020-01-012020-09-300001258602us-gaap:InterestRateCapMembernni:DerivativeMarketValueAdjustmentsAndDerivativeSettlementsNetMember2019-01-012019-09-300001258602us-gaap:VentureCapitalFundsMemberus-gaap:MiscellaneousInvestmentsMember2020-09-300001258602us-gaap:VentureCapitalFundsMemberus-gaap:MiscellaneousInvestmentsMember2019-12-310001258602nni:RealEstateAndSolarInvestmentMemberus-gaap:MiscellaneousInvestmentsMember2020-09-300001258602nni:RealEstateAndSolarInvestmentMemberus-gaap:MiscellaneousInvestmentsMember2019-12-310001258602nni:FederallyInsuredLoanSecuritizationMemberus-gaap:MiscellaneousInvestmentsMember2020-09-300001258602nni:FederallyInsuredLoanSecuritizationMemberus-gaap:MiscellaneousInvestmentsMember2019-12-310001258602us-gaap:ConsumerLoanMemberus-gaap:MiscellaneousInvestmentsMember2020-09-300001258602us-gaap:ConsumerLoanMemberus-gaap:MiscellaneousInvestmentsMember2019-12-310001258602nni:TaxliensandaffordablehousinginvestmentsMemberus-gaap:MiscellaneousInvestmentsMember2020-09-300001258602nni:TaxliensandaffordablehousinginvestmentsMemberus-gaap:MiscellaneousInvestmentsMember2019-12-310001258602nni:SolarInvestmentMember2020-09-300001258602nni:SolarInvestmentMember2020-07-012020-09-300001258602nni:SolarInvestmentMember2020-01-012020-09-300001258602nni: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:CustomerRelationshipsMember2020-09-300001258602us-gaap:CustomerRelationshipsMember2019-12-310001258602us-gaap:CustomerRelationshipsMember2020-01-012020-09-300001258602us-gaap:TradeNamesMember2020-09-300001258602us-gaap:TradeNamesMember2019-12-310001258602us-gaap:TradeNamesMember2020-01-012020-09-300001258602us-gaap:ComputerSoftwareIntangibleAssetMember2020-09-300001258602us-gaap:ComputerSoftwareIntangibleAssetMember2019-12-310001258602us-gaap:ComputerSoftwareIntangibleAssetMember2020-01-012020-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-09-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-12-310001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-09-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-12-310001258602nni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2020-09-300001258602nni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2019-12-310001258602us-gaap:CorporateNonSegmentMember2019-12-310001258602us-gaap:CorporateNonSegmentMember2020-09-300001258602nni:NonCommunicationsMembernni:ComputerEquipmentAndSoftwareMembersrt:MinimumMember2020-01-012020-09-300001258602srt:MaximumMembernni:NonCommunicationsMembernni:ComputerEquipmentAndSoftwareMember2020-01-012020-09-300001258602nni:NonCommunicationsMembernni:ComputerEquipmentAndSoftwareMember2020-09-300001258602nni:NonCommunicationsMembernni:ComputerEquipmentAndSoftwareMember2019-12-310001258602us-gaap:BuildingMembernni:NonCommunicationsMembersrt:MinimumMember2020-01-012020-09-300001258602us-gaap:BuildingMembersrt:MaximumMembernni:NonCommunicationsMember2020-01-012020-09-300001258602us-gaap:BuildingMembernni:NonCommunicationsMember2020-09-300001258602us-gaap:BuildingMembernni:NonCommunicationsMember2019-12-310001258602us-gaap:FurnitureAndFixturesMembernni:NonCommunicationsMembersrt:MinimumMember2020-01-012020-09-300001258602us-gaap:FurnitureAndFixturesMembersrt:MaximumMembernni:NonCommunicationsMember2020-01-012020-09-300001258602us-gaap:FurnitureAndFixturesMembernni:NonCommunicationsMember2020-09-300001258602us-gaap:FurnitureAndFixturesMembernni:NonCommunicationsMember2019-12-310001258602us-gaap:LeaseholdImprovementsMembernni:NonCommunicationsMembersrt:MinimumMember2020-01-012020-09-300001258602us-gaap:LeaseholdImprovementsMembersrt:MaximumMembernni:NonCommunicationsMember2020-01-012020-09-300001258602us-gaap:LeaseholdImprovementsMembernni:NonCommunicationsMember2020-09-300001258602us-gaap:LeaseholdImprovementsMembernni:NonCommunicationsMember2019-12-310001258602us-gaap:TransportationEquipmentMembernni:NonCommunicationsMembersrt:MinimumMember2020-01-012020-09-300001258602us-gaap:TransportationEquipmentMembersrt:MaximumMembernni:NonCommunicationsMember2020-01-012020-09-300001258602us-gaap:TransportationEquipmentMembernni:NonCommunicationsMember2020-09-300001258602us-gaap:TransportationEquipmentMembernni:NonCommunicationsMember2019-12-310001258602us-gaap:LandMembernni:NonCommunicationsMember2020-09-300001258602us-gaap:LandMembernni:NonCommunicationsMember2019-12-310001258602us-gaap:ConstructionInProgressMembernni:NonCommunicationsMember2020-09-300001258602us-gaap:ConstructionInProgressMembernni:NonCommunicationsMember2019-12-310001258602nni:NonCommunicationsMember2020-09-300001258602nni:NonCommunicationsMember2019-12-310001258602nni:NetworkplantandfiberMembernni:CommunicationsSegmentMembersrt:MinimumMember2020-01-012020-09-300001258602nni:NetworkplantandfiberMembersrt:MaximumMembernni:CommunicationsSegmentMember2020-01-012020-09-300001258602nni:NetworkplantandfiberMembernni:CommunicationsSegmentMember2020-09-300001258602nni:NetworkplantandfiberMembernni:CommunicationsSegmentMember2019-12-310001258602us-gaap:EquipmentLeasedToOtherPartyMembernni:CommunicationsSegmentMembersrt:MinimumMember2020-01-012020-09-300001258602us-gaap:EquipmentLeasedToOtherPartyMembersrt:MaximumMembernni:CommunicationsSegmentMember2020-01-012020-09-300001258602us-gaap:EquipmentLeasedToOtherPartyMembernni:CommunicationsSegmentMember2020-09-300001258602us-gaap:EquipmentLeasedToOtherPartyMembernni:CommunicationsSegmentMember2019-12-310001258602nni:CommunicationsSegmentMembernni:CentralofficeMembersrt:MinimumMember2020-01-012020-09-300001258602srt:MaximumMembernni:CommunicationsSegmentMembernni:CentralofficeMember2020-01-012020-09-300001258602nni:CommunicationsSegmentMembernni:CentralofficeMember2020-09-300001258602nni:CommunicationsSegmentMembernni:CentralofficeMember2019-12-310001258602us-gaap:TransportationEquipmentMembernni:CommunicationsSegmentMembersrt:MinimumMember2020-01-012020-09-300001258602us-gaap:TransportationEquipmentMembersrt:MaximumMembernni:CommunicationsSegmentMember2020-01-012020-09-300001258602us-gaap:TransportationEquipmentMembernni:CommunicationsSegmentMember2020-09-300001258602us-gaap:TransportationEquipmentMembernni:CommunicationsSegmentMember2019-12-310001258602nni:ComputerEquipmentAndSoftwareMembernni:CommunicationsSegmentMembersrt:MinimumMember2020-01-012020-09-300001258602srt:MaximumMembernni:ComputerEquipmentAndSoftwareMembernni:CommunicationsSegmentMember2020-01-012020-09-300001258602nni:ComputerEquipmentAndSoftwareMembernni:CommunicationsSegmentMember2020-09-300001258602nni:ComputerEquipmentAndSoftwareMembernni:CommunicationsSegmentMember2019-12-310001258602us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMembernni:CommunicationsSegmentMembersrt:MinimumMember2020-01-012020-09-300001258602us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMembersrt:MaximumMembernni:CommunicationsSegmentMember2020-01-012020-09-300001258602us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMembernni:CommunicationsSegmentMember2020-09-300001258602us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMembernni:CommunicationsSegmentMember2019-12-310001258602us-gaap:LandMembernni:CommunicationsSegmentMember2020-09-300001258602us-gaap:LandMembernni:CommunicationsSegmentMember2019-12-310001258602us-gaap:ConstructionInProgressMembernni:CommunicationsSegmentMember2020-09-300001258602us-gaap:ConstructionInProgressMembernni:CommunicationsSegmentMember2019-12-310001258602nni:CommunicationsSegmentMember2020-09-300001258602nni:CommunicationsSegmentMember2019-12-310001258602nni:CommonShareholdersMember2020-07-012020-09-300001258602nni:UnvestedRestrictedStockShareholdersMember2020-07-012020-09-300001258602nni:CommonShareholdersMember2019-07-012019-09-300001258602nni:UnvestedRestrictedStockShareholdersMember2019-07-012019-09-300001258602nni:CommonShareholdersMember2020-01-012020-09-300001258602nni:UnvestedRestrictedStockShareholdersMember2020-01-012020-09-300001258602nni:CommonShareholdersMember2019-01-012019-09-300001258602nni:UnvestedRestrictedStockShareholdersMember2019-01-012019-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-07-012020-09-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-07-012020-09-300001258602nni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001258602us-gaap:CorporateNonSegmentMember2020-07-012020-09-300001258602us-gaap:IntersegmentEliminationMember2020-07-012020-09-300001258602nni:LoanServicingAndSystemsMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-07-012020-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-07-012020-09-300001258602nni:LoanServicingAndSystemsMembernni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:CorporateNonSegmentMember2020-07-012020-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:IntersegmentEliminationMember2020-07-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-07-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-07-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMembernni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:CorporateNonSegmentMember2020-07-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:IntersegmentEliminationMember2020-07-012020-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:CommunicationsServicesMember2020-07-012020-09-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:CommunicationsServicesMember2020-07-012020-09-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:CommunicationsServicesMember2020-07-012020-09-300001258602nni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMembernni:CommunicationsServicesMember2020-07-012020-09-300001258602us-gaap:CorporateNonSegmentMembernni:CommunicationsServicesMember2020-07-012020-09-300001258602us-gaap:IntersegmentEliminationMembernni:CommunicationsServicesMember2020-07-012020-09-300001258602us-gaap:IntersegmentEliminationMember2020-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-07-012019-09-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-07-012019-09-300001258602nni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001258602us-gaap:CorporateNonSegmentMember2019-07-012019-09-300001258602us-gaap:IntersegmentEliminationMember2019-07-012019-09-300001258602nni:LoanServicingAndSystemsMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-07-012019-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-07-012019-09-300001258602nni:LoanServicingAndSystemsMembernni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:CorporateNonSegmentMember2019-07-012019-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:IntersegmentEliminationMember2019-07-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-07-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-07-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMembernni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:CorporateNonSegmentMember2019-07-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:IntersegmentEliminationMember2019-07-012019-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:CommunicationsServicesMember2019-07-012019-09-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:CommunicationsServicesMember2019-07-012019-09-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:CommunicationsServicesMember2019-07-012019-09-300001258602nni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMembernni:CommunicationsServicesMember2019-07-012019-09-300001258602us-gaap:CorporateNonSegmentMembernni:CommunicationsServicesMember2019-07-012019-09-300001258602us-gaap:IntersegmentEliminationMembernni:CommunicationsServicesMember2019-07-012019-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-09-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-09-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-09-300001258602nni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2019-09-300001258602us-gaap:CorporateNonSegmentMember2019-09-300001258602us-gaap:IntersegmentEliminationMember2019-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-01-012020-09-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-01-012020-09-300001258602nni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001258602us-gaap:CorporateNonSegmentMember2020-01-012020-09-300001258602us-gaap:IntersegmentEliminationMember2020-01-012020-09-300001258602nni:LoanServicingAndSystemsMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-01-012020-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-01-012020-09-300001258602nni:LoanServicingAndSystemsMembernni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:CorporateNonSegmentMember2020-01-012020-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:IntersegmentEliminationMember2020-01-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-01-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-01-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMembernni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:CorporateNonSegmentMember2020-01-012020-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:IntersegmentEliminationMember2020-01-012020-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:CommunicationsServicesMember2020-01-012020-09-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:CommunicationsServicesMember2020-01-012020-09-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:CommunicationsServicesMember2020-01-012020-09-300001258602nni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMembernni:CommunicationsServicesMember2020-01-012020-09-300001258602us-gaap:CorporateNonSegmentMembernni:CommunicationsServicesMember2020-01-012020-09-300001258602us-gaap:IntersegmentEliminationMembernni:CommunicationsServicesMember2020-01-012020-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-01-012019-09-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-01-012019-09-300001258602nni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001258602us-gaap:CorporateNonSegmentMember2019-01-012019-09-300001258602us-gaap:IntersegmentEliminationMember2019-01-012019-09-300001258602nni:LoanServicingAndSystemsMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-01-012019-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-01-012019-09-300001258602nni:LoanServicingAndSystemsMembernni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:CorporateNonSegmentMember2019-01-012019-09-300001258602nni:LoanServicingAndSystemsMemberus-gaap:IntersegmentEliminationMember2019-01-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMembernni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-01-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-01-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMembernni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:CorporateNonSegmentMember2019-01-012019-09-300001258602nni:EducationTechnologyServicesAndPaymentProcessingServicesMemberus-gaap:IntersegmentEliminationMember2019-01-012019-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMembernni:CommunicationsServicesMember2019-01-012019-09-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMembernni:CommunicationsServicesMember2019-01-012019-09-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMembernni:CommunicationsServicesMember2019-01-012019-09-300001258602nni:AssetGenerationAndManagementSegmentMemberus-gaap:OperatingSegmentsMembernni:CommunicationsServicesMember2019-01-012019-09-300001258602us-gaap:CorporateNonSegmentMembernni:CommunicationsServicesMember2019-01-012019-09-300001258602us-gaap:IntersegmentEliminationMembernni:CommunicationsServicesMember2019-01-012019-09-300001258602nni:GovernmentServicingNelnetMember2020-07-012020-09-300001258602nni:GovernmentServicingNelnetMember2019-07-012019-09-300001258602nni:GovernmentServicingNelnetMember2020-01-012020-09-300001258602nni:GovernmentServicingNelnetMember2019-01-012019-09-300001258602nni:GovernmentServicingGreatLakesMember2020-07-012020-09-300001258602nni:GovernmentServicingGreatLakesMember2019-07-012019-09-300001258602nni:GovernmentServicingGreatLakesMember2020-01-012020-09-300001258602nni:GovernmentServicingGreatLakesMember2019-01-012019-09-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2020-07-012020-09-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2019-07-012019-09-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2020-01-012020-09-300001258602nni:PrivateEducationAndConsumerLoanServicingMember2019-01-012019-09-300001258602nni:FFELPServicingMember2020-07-012020-09-300001258602nni:FFELPServicingMember2019-07-012019-09-300001258602nni:FFELPServicingMember2020-01-012020-09-300001258602nni:FFELPServicingMember2019-01-012019-09-300001258602nni:SoftwareServicesMember2020-07-012020-09-300001258602nni:SoftwareServicesMember2019-07-012019-09-300001258602nni:SoftwareServicesMember2020-01-012020-09-300001258602nni:SoftwareServicesMember2019-01-012019-09-300001258602nni:OutsourcedServicesRevenueAndOtherMember2020-07-012020-09-300001258602nni:OutsourcedServicesRevenueAndOtherMember2019-07-012019-09-300001258602nni:OutsourcedServicesRevenueAndOtherMember2020-01-012020-09-300001258602nni:OutsourcedServicesRevenueAndOtherMember2019-01-012019-09-300001258602nni:LoanServicingAndSystemsRevenueMember2020-07-012020-09-300001258602nni:LoanServicingAndSystemsRevenueMember2019-07-012019-09-300001258602nni:LoanServicingAndSystemsRevenueMember2020-01-012020-09-300001258602nni:LoanServicingAndSystemsRevenueMember2019-01-012019-09-300001258602nni:TuitionPaymentPlanServicesMember2020-07-012020-09-300001258602nni:TuitionPaymentPlanServicesMember2019-07-012019-09-300001258602nni:TuitionPaymentPlanServicesMember2020-01-012020-09-300001258602nni:TuitionPaymentPlanServicesMember2019-01-012019-09-300001258602nni:PaymentProcessingMember2020-07-012020-09-300001258602nni:PaymentProcessingMember2019-07-012019-09-300001258602nni:PaymentProcessingMember2020-01-012020-09-300001258602nni:PaymentProcessingMember2019-01-012019-09-300001258602nni:EducationTechnologyAndServicesMember2020-07-012020-09-300001258602nni:EducationTechnologyAndServicesMember2019-07-012019-09-300001258602nni:EducationTechnologyAndServicesMember2020-01-012020-09-300001258602nni:EducationTechnologyAndServicesMember2019-01-012019-09-300001258602nni:OtherServiceOfferingMember2020-07-012020-09-300001258602nni:OtherServiceOfferingMember2019-07-012019-09-300001258602nni:OtherServiceOfferingMember2020-01-012020-09-300001258602nni:OtherServiceOfferingMember2019-01-012019-09-300001258602nni:InternetMember2020-07-012020-09-300001258602nni:InternetMember2019-07-012019-09-300001258602nni:InternetMember2020-01-012020-09-300001258602nni:InternetMember2019-01-012019-09-300001258602nni:TelevisionMember2020-07-012020-09-300001258602nni:TelevisionMember2019-07-012019-09-300001258602nni:TelevisionMember2020-01-012020-09-300001258602nni:TelevisionMember2019-01-012019-09-300001258602nni:TelephoneMember2020-07-012020-09-300001258602nni:TelephoneMember2019-07-012019-09-300001258602nni:TelephoneMember2020-01-012020-09-300001258602nni:TelephoneMember2019-01-012019-09-300001258602nni:OtherCommunicationRevenueMember2020-07-012020-09-300001258602nni:OtherCommunicationRevenueMember2019-07-012019-09-300001258602nni:OtherCommunicationRevenueMember2020-01-012020-09-300001258602nni:OtherCommunicationRevenueMember2019-01-012019-09-300001258602nni:CommunicationRevenueServiceOfferingMember2020-07-012020-09-300001258602nni:CommunicationRevenueServiceOfferingMember2019-07-012019-09-300001258602nni:CommunicationRevenueServiceOfferingMember2020-01-012020-09-300001258602nni:CommunicationRevenueServiceOfferingMember2019-01-012019-09-300001258602nni:ResidentialRevenueMember2020-07-012020-09-300001258602nni:ResidentialRevenueMember2019-07-012019-09-300001258602nni:ResidentialRevenueMember2020-01-012020-09-300001258602nni:ResidentialRevenueMember2019-01-012019-09-300001258602nni:BusinessRevenueMember2020-07-012020-09-300001258602nni:BusinessRevenueMember2019-07-012019-09-300001258602nni:BusinessRevenueMember2020-01-012020-09-300001258602nni:BusinessRevenueMember2019-01-012019-09-300001258602nni:OtherCustomerRevenueMember2020-07-012020-09-300001258602nni:OtherCustomerRevenueMember2019-07-012019-09-300001258602nni:OtherCustomerRevenueMember2020-01-012020-09-300001258602nni:OtherCustomerRevenueMember2019-01-012019-09-300001258602nni:CommunicationsRevenueCustomerMember2020-07-012020-09-300001258602nni:CommunicationsRevenueCustomerMember2019-07-012019-09-300001258602nni:CommunicationsRevenueCustomerMember2020-01-012020-09-300001258602nni:CommunicationsRevenueCustomerMember2019-01-012019-09-300001258602us-gaap:InvestmentAdviceMember2020-07-012020-09-300001258602us-gaap:InvestmentAdviceMember2019-07-012019-09-300001258602us-gaap:InvestmentAdviceMember2020-01-012020-09-300001258602us-gaap:InvestmentAdviceMember2019-01-012019-09-300001258602us-gaap:AdministrativeServiceMember2020-07-012020-09-300001258602us-gaap:AdministrativeServiceMember2019-07-012019-09-300001258602us-gaap:AdministrativeServiceMember2020-01-012020-09-300001258602us-gaap:AdministrativeServiceMember2019-01-012019-09-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2020-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2020-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2020-06-300001258602us-gaap:CorporateNonSegmentMember2020-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2019-06-300001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2019-06-300001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2019-06-300001258602us-gaap:CorporateNonSegmentMember2019-06-300001258602nni:LoanServicingAndSystemsSegmentMemberus-gaap:OperatingSegmentsMember2018-12-310001258602us-gaap:OperatingSegmentsMembernni:EducationTechnologyServicesAndPaymentProcessingServicesSegmentMember2018-12-310001258602us-gaap:OperatingSegmentsMembernni:CommunicationsSegmentMember2018-12-310001258602us-gaap:CorporateNonSegmentMember2018-12-310001258602nni:NelnetServicingMemberus-gaap:CustomerConcentrationRiskMembernni:DepartmentOfEducationMember2020-07-012020-09-300001258602nni:NelnetServicingMemberus-gaap:CustomerConcentrationRiskMembernni:DepartmentOfEducationMember2019-07-012019-09-300001258602nni:NelnetServicingMemberus-gaap:CustomerConcentrationRiskMembernni:DepartmentOfEducationMember2020-01-012020-09-300001258602nni:NelnetServicingMemberus-gaap:CustomerConcentrationRiskMembernni:DepartmentOfEducationMember2019-01-012019-09-300001258602us-gaap:CustomerConcentrationRiskMembernni:DepartmentOfEducationMembernni:GreatLakesEducationalLoanServicesMember2020-07-012020-09-300001258602us-gaap:CustomerConcentrationRiskMembernni:DepartmentOfEducationMembernni:GreatLakesEducationalLoanServicesMember2019-07-012019-09-300001258602us-gaap:CustomerConcentrationRiskMembernni:DepartmentOfEducationMembernni:GreatLakesEducationalLoanServicesMember2020-01-012020-09-300001258602us-gaap:CustomerConcentrationRiskMembernni:DepartmentOfEducationMembernni:GreatLakesEducationalLoanServicesMember2019-01-012019-09-30nni:extensionOption0001258602us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMember2020-09-300001258602us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMember2020-09-300001258602us-gaap:AssetBackedSecuritiesMember2020-09-300001258602us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMember2019-12-310001258602us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMember2019-12-310001258602us-gaap:AssetBackedSecuritiesMember2019-12-310001258602us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel1Member2020-09-300001258602us-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMember2020-09-300001258602us-gaap:EquitySecuritiesMember2020-09-300001258602us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel1Member2019-12-310001258602us-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMember2019-12-310001258602us-gaap:EquitySecuritiesMember2019-12-310001258602nni:AlternativeInvestmentMember2020-09-300001258602nni:AlternativeInvestmentMember2019-12-310001258602us-gaap:FairValueInputsLevel1Memberus-gaap:DebtSecuritiesMember2020-09-300001258602us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMember2020-09-300001258602us-gaap:DebtSecuritiesMember2020-09-300001258602us-gaap:FairValueInputsLevel1Memberus-gaap:DebtSecuritiesMember2019-12-310001258602us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMember2019-12-310001258602us-gaap:DebtSecuritiesMember2019-12-310001258602us-gaap:FairValueInputsLevel1Member2020-09-300001258602us-gaap:FairValueInputsLevel2Member2020-09-300001258602us-gaap:FairValueInputsLevel1Member2019-12-310001258602us-gaap:FairValueInputsLevel2Member2019-12-310001258602us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300001258602us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300001258602us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300001258602us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300001258602us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300001258602us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001258602us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001258602us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001258602us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001258602us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001258602nni:ALLOMemberus-gaap:SubsequentEventMember2020-10-152020-10-150001258602nni:ALLOMemberus-gaap:SubsequentEventMember2020-10-152020-10-150001258602nni:ALLOMemberus-gaap:SubsequentEventMember2020-10-010001258602nni:ALLOMemberus-gaap:SubsequentEventMember2020-10-010001258602srt:ScenarioForecastMembernni:ALLOMembernni:SDCALLOHoldingsLLCMember2020-12-312020-12-310001258602srt:ScenarioForecastMembernni:ALLOMember2020-12-312020-12-310001258602srt:ScenarioForecastMembernni:ALLOMembernni:MembersOfALLOManagementMember2020-12-312020-12-310001258602srt:ScenarioForecastMembernni:ALLOMember2020-10-012020-12-310001258602srt:ScenarioForecastMembernni:SDCALLOHoldingsLLCMembersrt:MinimumMember2020-10-012020-12-310001258602srt:ScenarioForecastMembersrt:MaximumMembernni:SDCALLOHoldingsLLCMember2020-10-012020-12-310001258602nni:NelnetBankMemberus-gaap:SubsequentEventMember2020-11-022020-11-020001258602nni:NelnetBankMemberus-gaap:AssetPledgedAsCollateralMemberus-gaap:SubsequentEventMember2020-11-02


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 September 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 October 31, 2020, there were 27,169,876 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
September 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
 September 30, 2020December 31, 2019
Assets:  
Loans and accrued interest receivable (net of allowance for loan losses of $185,899 and
   $61,914, respectively)
$20,076,542 21,402,868 
Cash and cash equivalents:  
Cash and cash equivalents - not held at a related party31,998 13,922 
Cash and cash equivalents - held at a related party64,318 119,984 
Total cash and cash equivalents96,316 133,906 
Investments 476,827 247,099 
Restricted cash519,143 650,939 
Restricted cash - due to customers286,082 437,756 
Accounts receivable (net of allowance for doubtful accounts of $3,731 and $4,455, respectively)
69,916 115,391 
Goodwill156,912 156,912 
Intangible assets, net58,701 81,532 
Property and equipment, net360,490 348,259 
Other assets121,597 134,308 
Total assets$22,222,526 23,708,970 
Liabilities:  
Bonds and notes payable$19,215,053 20,529,054 
Accrued interest payable29,612 47,285 
Other liabilities288,948 303,781 
Due to customers286,082 437,756 
Total liabilities19,819,695 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 27,163,588
     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 capital1,704 5,715 
Retained earnings2,393,113 2,377,627 
Accumulated other comprehensive earnings4,284 2,972 
Total Nelnet, Inc. shareholders' equity2,399,485 2,386,712 
Noncontrolling interests3,346 4,382 
Total equity2,402,831 2,391,094 
Total liabilities and equity$22,222,526 23,708,970 
Supplemental information - assets and liabilities of consolidated education and other lending
variable interest entities:
Loans and accrued interest receivable$20,085,382 21,399,382 
Restricted cash501,080 639,847 
Bonds and notes payable(19,349,111)(20,742,798)
Accrued interest payable and other liabilities (88,911)(162,494)
Net assets of consolidated education and other lending variable interest entities$1,148,440 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 endedNine months ended
 September 30,September 30,
 2020201920202019
Interest income:  
Loan interest$134,507 229,063 462,439 709,618 
Investment interest5,238 9,882 18,379 26,701 
Total interest income139,745 238,945 480,818 736,319 
Interest expense: 
Interest on bonds and notes payable58,423 172,488 277,788 551,221 
Net interest income81,322 66,457 203,030 185,098 
Less (negative provision) provision for loan losses(5,821)10,000 73,476 26,000 
Net interest income after provision for loan losses87,143 56,457 129,554 159,098 
Other income/expense: 
Loan servicing and systems revenue113,794 113,286 337,571 342,169 
Education technology, services, and payment processing revenue
74,121 74,251 217,100 213,753 
Communications revenue20,211 16,470 57,390 46,770 
Gain on sale of loans14,817  33,023 1,712 
Other income1,502 13,439 69,910 36,946 
Impairment expense  (34,419) 
Derivative market value adjustments and derivative settlements, net
1,049 1,668 (13,406)(33,959)
Total other income/expense225,494 219,114 667,169 607,391 
Cost of services:
Cost to provide education technology, services, and payment processing services
25,243 25,671 63,424 62,601 
Cost to provide communications services5,914 5,236 17,240 15,096 
Total cost of services31,157 30,907 80,664 77,697 
Operating expenses:  
Salaries and benefits126,096 116,670 365,220 338,942 
Depreciation and amortization30,308 27,701 87,349 76,398 
Other expenses34,744 58,329 115,184 147,562 
Total operating expenses191,148 202,700 567,753 562,902 
Income before income taxes90,332 41,964 148,306 125,890 
Income tax expense19,156 8,829 30,286 26,429 
Net income71,176 33,135 118,020 99,461 
Net loss (income) attributable to noncontrolling interests
327 77 (568)(38)
Net income attributable to Nelnet, Inc.
$71,503 33,212 117,452 99,423 
Earnings per common share:
Net income attributable to Nelnet, Inc. shareholders - basic and diluted
$1.86 0.83 2.99 2.48 
Weighted average common shares outstanding - basic and diluted
38,538,476 39,877,129 39,229,932 40,098,346 

See accompanying notes to consolidated financial statements.
3



NELNET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Dollars in thousands)
(unaudited)
Three months endedNine months ended
September 30,September 30,
2020201920202019
Net income$71,176 33,135 118,020 99,461 
Other comprehensive income (loss):
Available-for-sale securities:
Unrealized holding gains (losses) arising during period, net1,893 (334)2,114 (1,306)
Reclassification adjustment for (gains) losses recognized in net income, net
(513) (390) 
Income tax effect(329)80 (412)313 
Total other comprehensive income (loss)1,051 (254)1,312 (993)
Comprehensive income72,227 32,881 119,332 98,468 
Comprehensive loss (income) attributable to noncontrolling interests327 77 (568)(38)
Comprehensive income attributable to Nelnet, Inc.$72,554 32,958 118,764 98,430 

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 June 30, 2019 28,399,526 11,279,641 $ 284 113 1,670 2,317,115 3,144 4,292 2,326,618 
Issuance of noncontrolling interests— — — — — — — — — 4,165 4,165 
Net income (loss)— — — — — — — 33,212 — (77)33,135 
Other comprehensive loss— — — — — — — — (254)— (254)
Distribution to noncontrolling interests— — — — — — — — — (3,865)(3,865)
Cash dividends on Class A and Class B common stock - $0.18 per share
— — — — — — — (7,142)— — (7,142)
Issuance of common stock, net of forfeitures— 15,345 — — — — 524 — — — 524 
Compensation expense for stock based awards— — — — — — 1,705 — — — 1,705 
Repurchase of common stock— (3,365)— — — — (221)— — — (221)
Balance as of September 30, 2019 28,411,506 11,279,641 $ 284 113 3,678 2,343,185 2,890 4,515 2,354,665 
Balance as of June 30, 2020 27,232,836 11,171,609 $ 272 112 1,867 2,331,312 3,233 3,990 2,340,786 
Issuance of noncontrolling interests— — — — — — — — — 14 14 
Net income (loss)— — — — — — — 71,503 — (327)71,176 
Other comprehensive income— — — — — — — — 1,051 — 1,051 
Distribution to noncontrolling interests— — — — — — — — — (331)(331)
Cash dividends on Class A and Class B common stock - $0.20 per share
— — — — — — — (7,664)— — (7,664)
Issuance of common stock, net of forfeitures— 24,132 — — — — 553 — — — 553 
Compensation expense for stock based awards— — — — — — 1,864 — — — 1,864 
Repurchase of common stock— (93,380)— — — — (2,580)(2,038)— — (4,618)
Balance as of September 30, 2020 27,163,588 11,171,609 $ 272 112 1,704 2,393,113 4,284 3,346 2,402,831 

See accompanying notes to consolidated financial statements.
5


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 capitalRetained earningsAccumulated other comprehensive (loss) earningsNoncontrolling interestsTotal equity
Class AClass B
Balance as of December 31, 2018 28,798,464 11,459,641 $ 288 115 622 2,299,556 3,883 10,315 2,314,779 
Issuance of noncontrolling interests— — — — — — — — — 4,217 4,217 
Net income— — — — — — — 99,423 — 38 99,461 
Other comprehensive loss— — — — — — — — (993)— (993)
Distribution to noncontrolling interests— — — — — — — — — (3,978)(3,978)
Cash dividends on Class A and Class B common stock - $0.54 per share
— — — — — — — (21,546)— — (21,546)
Issuance of common stock, net of forfeitures— 156,874 — — 1 — 4,400 — — — 4,401 
Compensation expense for stock based awards— — — — — — 4,663 — — — 4,663 
Repurchase of common stock— (723,832)— — (7)— (6,007)(34,248)— — (40,262)
Impact of adoption of new accounting standard— — — — — — — — — (6,077)(6,077)
Conversion of common stock— 180,000 (180,000)— 2 (2)— — — —  
Balance as of September 30, 2019 28,411,506 11,279,641 $ 284 113 3,678 2,343,185 2,890 4,515 2,354,665 
Balance as of December 31, 2019 28,458,495 11,271,609 $ 285 113 5,715 2,377,627 2,972 4,382 2,391,094 
Issuance of noncontrolling interests— — — — — — — — — 66 66 
Net income— — — — — — — 117,452 — 568 118,020 
Other comprehensive income— — — — — — — — 1,312 — 1,312 
Distribution to noncontrolling interests— — — — — — — — — (920)(920)
Cash dividends on Class A and Class B common stock - $0.60 per share
— — — — — — — (23,343)— — (23,343)
Issuance of common stock, net of forfeitures— 196,407 — — 2 — 5,153 — — — 5,155