CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 2,717,752	$ 4,455,292
Investments
Trading investments at fair value (cost of $29,049 and $12,551)	36,792	16,923
Available-for-sale investments at fair value (cost of $2,506,087 and $1,986,957, respectively)	2,505,372	1,996,634
Other investments	140,725	80,794
Total investments	2,682,889	2,094,351
Loans held for investment (net of allowance for losses of $1,215,407 and $1,361,723, respectively)	21,281,527	19,183,143
Loans held for sale	0	2,885,640
Restricted cash	175,473	154,417
Other interest-earning assets	11,890	42,874
Accrued interest receivable	1,403,146	1,387,305
Premises and equipment, net	153,334	154,670
Income taxes receivable, net	320,136	374,706
Tax indemnification receivable	12,486	18,492
Other assets	32,506	19,533
Total assets	28,791,139	30,770,423
Liabilities
Deposits	20,890,860	22,666,039
Short-term borrowings	199,583	0
Long-term borrowings	5,219,748	5,189,217
Other liabilities	349,687	352,332
Total liabilities	26,659,878	28,207,588
Commitments and contingencies
Equity
Preferred stock	251,070	251,070
Common stock, par value $0.20 per share, 1.125 billion shares authorized: 432.0 million and 456.7 million shares issued, respectively	86,403	91,346
Additional paid-in capital	1,068,059	1,331,247
Accumulated other comprehensive loss (net of tax benefit of ($6,288) and ($10,908), respectively)	(19,703)	(34,200)
Retained earnings	2,543,411	1,722,365
Total SLM Corporation stockholders’ equity before treasury stock	3,929,240	3,361,828
Less: Common stock held in treasury at cost: 138.8 million and 81.4 million shares, respectively	(1,797,979)	(798,993)
Total equity	2,131,261	2,562,835
Total liabilities and equity	$ 28,791,139	$ 30,770,423