CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 4,455,292	$ 5,563,877
Investments
Trading investments at fair value (cost of $12,551)	16,923	0
Available-for-sale investments	1,996,634	487,669
Other investments	80,794	84,420
Total investments	2,094,351	572,089
Loans held for investment (net of allowance for losses of $1,361,723 and $441,912, respectively)	19,183,143	24,667,792
Loans held for sale	2,885,640	0
Restricted cash	154,417	156,883
Other interest-earning assets	42,874	52,564
Accrued interest receivable	1,387,305	1,392,725
Premises and equipment, net	154,670	134,749
Income taxes receivable, net	374,706	88,844
Tax indemnification receivable	18,492	27,558
Other assets	19,533	29,398
Total assets	30,770,423	32,686,479
Liabilities
Deposits	22,666,039	24,283,983
Short-term borrowings	0	289,230
Long-term borrowings	5,189,217	4,354,037
Upromise member accounts	0	192,662
Other liabilities	352,332	254,731
Total liabilities	28,207,588	29,374,643
Commitments and contingencies
Preferred stock, par value $0.20 per share, 20 million shares authorized:
Common stock, par value $0.20 per share, 1.125 billion shares authorized: 456.7 million and 453.6 million shares issued, respectively	91,346	90,720
Additional paid-in capital	1,331,247	1,307,630
Accumulated other comprehensive loss (net of tax benefit of $(10,908) and $(3,995), respectively)	(34,200)	(12,367)
Retained earnings	1,722,365	1,850,512
Total SLM Corporation stockholders’ equity before treasury stock	3,361,828	3,636,495
Less: Common stock held in treasury at cost: 81.4 million and 32.5 million shares, respectively	(798,993)	(324,659)
Total equity	2,562,835	3,311,836
Total liabilities and equity	30,770,423	32,686,479
Series B Preferred Stock
Preferred stock, par value $0.20 per share, 20 million shares authorized:
Series B: 2.5 million and 4 million shares issued, respectively, at stated value of $100 per share	$ 251,070	$ 400,000