What exactly is Navient?
Navient is actually a company one properties government and personal student education loans. Up until now, Navient had an agreement to provider government student education loans belonging to the newest U.S. Agencies off Knowledge, together with a huge number of financing generated beneath the Direct Financing Program and you will an inferior level of money produced in Federal Nearest and dearest Student loan (FFEL) System. Into , the latest You.S. Agency from Knowledge announced the new import on the deal from Navient so you’re able to Aidvantage, a division away from Maximus Government Features, Inc. But not, Navient will continue to solution government college loans produced within the FFEL Program which might be belonging to private lenders as well as non-government individual college loans.
Navient is made inside the 2014, if the providers then called Sallie Mae (officially, SLM Enterprise), split up their loan servicing and you can recuperation organization from its individual financial business.