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Parent Only Statements (Tables)
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
Parent only Condensed Balance Sheets
Parent Only Condensed Balance Sheets
 
 
December 31,
 
 
2019
 
2018
Assets
 
 
 
 
Cash and cash equivalents
 
$
153,508

 
$
191,776

Total investments in subsidiaries (primarily Sallie Mae Bank)
 
3,326,578

 
2,963,949

Tax indemnification receivable
 
27,558

 
39,207

Due from subsidiaries, net
 
42,544

 
48,798

Other assets
 
2,579

 
2,246

Total assets
 
$
3,552,767

 
$
3,245,976

 
 
 
 
 
Liabilities and Equity
 
 
 
 
Liabilities
 
 
 
 
Long-term borrowings
 
$
198,159

 
$
197,348

Income taxes payable, net
 
11,457

 
37,271

Payable due to Navient
 
9,064

 
9,480

Other liabilities
 
22,251

 
29,221

Total liabilities
 
240,931

 
273,320

 
 
 
 
 
Equity
 
 
 
 
Preferred stock, par value $0.20 per share, 20 million shares authorized:
 
 
 
 
Series B: 4 million and 4 million shares issued, respectively, at stated value of $100 per share
 
400,000

 
400,000

Common stock, par value $0.20 per share, 1.125 billion shares authorized: 453.6 million and 449.9 million shares issued, respectively
 
90,720

 
89,972

Additional paid-in capital
 
1,307,630

 
1,274,635

Accumulated other comprehensive income (loss) (net of tax expense (benefit) of ($3,995) and $3,436, respectively)
 
(12,367
)
 
10,623

Retained earnings
 
1,850,512

 
1,340,017

Total SLM Corporation stockholders’ equity before treasury stock
 
3,636,495

 
3,115,247

Less: Common stock held in treasury at cost: 32.5 million and 14.2 million shares, respectively
 
(324,659
)
 
(142,591
)
Total equity
 
3,311,836

 
2,972,656

Total liabilities and equity
 
$
3,552,767

 
$
3,245,976
Parent only Condensed Statements of Income
Parent Only Condensed Statements of Income

 
 
 
Years Ended December 31,
 
 
2019
 
2018
 
2017
 
 
 
 
 
 
 
Interest income
 
$
2,663

 
$
4,693

 
$
5,497

Interest expense
 
11,060

 
11,059

 
8,170

Net interest loss
 
(8,397
)
 
(6,366
)
 
(2,673
)
 
 
 
 
 
 
 
Non-interest loss
 
(10,856
)
 
(93,176
)
 
(33,956
)
Non-interest expenses
 
39,423

 
41,893

 
35,810

 
 
 
 
 
 
 
Loss before income tax benefit and equity in net income from subsidiaries
 
(58,676
)
 
(141,435
)
 
(72,439
)
Income tax benefit
 
(25,260
)
 
(96,170
)
 
(40,598
)
Equity in net income from subsidiaries (primarily Sallie Mae Bank)
 
611,692

 
532,741

 
320,775

Net income
 
578,276

 
487,476

 
288,934

Preferred stock dividends
 
16,837

 
15,640

 
15,714

Net income attributable to SLM Corporation common stock
 
$
561,439

 
$
471,836

 
$
273,220
Parent only Condensed Statements of Cash Flows
Parent Only Condensed Statements of Cash Flows
 
 
Years Ended December 31,
 
 
2019
 
2018
 
2017
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
Net income
 
$
578,276

 
$
487,476

 
$
288,934

Adjustments to reconcile net income to net cash (used in) provided by operating activities:
 

 

 

Undistributed earnings of subsidiaries
 
(611,692
)
 
(532,741
)
 
(320,775
)
Dividends received from Sallie Mae Bank
 
254,000

 
—

 
—

Reduction of tax indemnification receivable
 
11,649

 
92,815

 
31,888

Amortization of unsecured debt upfront fees
 
811

 
809

 
596

Decrease in investment in subsidiaries, net
 
2,611

 
9,495

 
1,158

Decrease in tax indemnification receivable
 
—

 
35,989

 
59,633

Decrease (increase) in due from subsidiaries, net
 
6,254

 
(11,277
)
 
(5,687
)
Increase in other assets
 
(12,999
)
 
(18,040
)
 
(24,627
)
Decrease in income taxes payable, net
 
(25,814
)
 
(123,083
)
 
(87,983
)
Decrease in payable due to entity that is a subsidiary of Navient
 
(416
)
 
(1,089
)
 
(593
)
(Decrease) increase in other liabilities
 
(5,796
)
 
6,807

 
10,205

Total adjustments
 
(381,392
)
 
(540,315
)
 
(336,185
)
Net cash used in operating activities
 
196,884

 
(52,839
)
 
(47,251
)
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
Net cash provided by investing activities
 
—

 
—

 
—

 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
Unsecured debt issued
 
—

 
—

 
197,000

Issuance costs for unsecured debt offering
 
—

 
—

 
(1,057
)
Redemption of Series A Preferred Stock
 
—

 
—

 
(165,000
)
Common stock dividends paid
 
(51,114
)
 
—

 
—

Preferred stock dividends paid
 
(16,837
)
 
(15,640
)
 
(15,714
)
Common stock repurchased
 
(167,201
)
 
—

 
—

Net cash used in financing activities
 
(235,152
)
 
(15,640
)
 
15,229

Net decrease in cash and cash equivalents
 
(38,268
)
 
(68,479
)
 
(32,022
)
Cash and cash equivalents at beginning of year
 
191,776

 
260,255

 
292,277

Cash and cash equivalents at end of year
 
$
153,508

 
$
191,776

 
$
260,255