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Navient Corporation (Nasdaq: NAVI) is the nation’s leading loan management, servicing, and asset recovery company. Headquartered in Herndon, Virginia, Navient supports the educational and economic achievements of over 12 million Americans by managing more than $300 billion in student loans. The company operates in three primary segments: Federal Education Loans, Consumer Lending, and Business Processing.
Navient provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions achieve financial success. Their customer-focused, data-driven approach delivers exceptional results for clients in education, healthcare, and government sectors.
Recent strategic actions have been taken to streamline operations and enhance flexibility. This includes outsourcing student loan servicing to MOHELA, exploring strategic options for the business processing division, and reshaping shared services to align with a more focused business model. These measures are expected to reduce the company's expense base and increase operational efficiency.
Navient is committed to transparency and regular communication with stakeholders. The company hosts quarterly earnings calls and provides detailed financial updates. For instance, Navient will hold a live audio webcast on April 24, 2024, to review its first-quarter financial results. This webcast, hosted by senior executives, will offer insights into the company's performance and strategic direction.
For more information, visit Navient.com.
Navient has been recognized by the Women’s Forum of New York for achieving over 35% female representation on its board of directors, highlighting its commitment to promoting gender diversity in leadership. Out of 10 directors, 5 are women, including the chair. The Women’s Forum honors companies that excel in this area, noting that Navient is among the 243 recognized from the S&P 500 and FORTUNE 1000 for exceeding national averages in gender representation on corporate boards.
Navient (Nasdaq: NAVI) announced its 2021 third quarter financial results, which are available on the company’s investor relations website. The earnings report will also be filed as Form 8-K with the SEC. Navient facilitates education loan management and business processing solutions for education and government sectors. A conference call to discuss these results will take place on October 27, 2021, at 8 a.m. ET, featuring key executives. Stakeholders may access a replay of the call until November 10, 2021.
Navient (Nasdaq: NAVI) announced that its proposal to transfer loan servicing for 5.6 million Department of Education-owned student loan accounts to Maximus has received all necessary approvals. The transfer is effective immediately, with Maximus replacing Navient as the contractor. The transition to Maximus’s servicing division, Aidvantage, will be complete by year-end, ensuring continuity of service for borrowers. Approximately 800 Navient employees will also transfer to Maximus as part of this agreement. For more information, borrowers can visit navient.com/aidvantage.
Navient (Nasdaq: NAVI) announced it will release its 2021 third-quarter financial results on October 26, 2021, after market close. A conference call to discuss these results will take place on October 27, 2021, at 8 a.m. ET. The earnings call will cover topics including Navient's proposal to transfer its Department of Education servicing contract to Maximus. Investors will be notified of the results via news release and on social media. Supplemental financial information will be available on Navient's investor website, enhancing accessibility for stakeholders.
Navient (Nasdaq:NAVI) and Maximus (NYSE:MMS) have signed a definitive agreement to transfer U.S. Department of Education-owned student loan servicing from Navient to Maximus, pending approval from the Department. This transition aims to maintain service quality for borrowers. Once finalized, Navient will exit the loan servicing program as planned, with many employees transferring to Maximus to ensure continuity. The contract novation aims for completion starting October 1, 2021, enhancing Maximus's capabilities in federal student loan servicing.
Navient (NAVI) and Maximus (MMS) have signed an agreement to transfer the servicing of U.S. Department of Education-owned student loans from Navient to Maximus, pending approval from the Department's Federal Student Aid (FSA) office. The transition aims to ensure operational continuity while allowing Navient to focus on non-government loan servicing. Many Navient employees will move to Maximus to maintain high service standards. The contract novation is expected to be finalized in Q4 2021, enhancing Maximus's student loan servicing capabilities.
Earnest has acquired Going Merry, a platform providing students access to scholarships and financial aid tools. This acquisition aims to enhance Earnest's offerings in education finance, enabling better access to financial aid opportunities for students. Going Merry, used by over 50% of US high schools, has helped students secure nearly $100 million in additional financial aid since its inception in 2017. The combined resources will provide tools for financial aid analysis, budgeting, and loan comparison, reinforcing Earnest's mission to make education affordable.
Navient (Nasdaq: NAVI) announced that its President and CEO, Jack Remondi, will participate in a virtual fireside chat at the Barclays 2021 Global Financial Services Conference on Sept. 13 at 8:10 a.m. ET. The session will be accessible via a live video webcast on Navient.com/investors, with a replay available about two hours post-presentation until Sept. 27.
Navient specializes in education loan management and business processing solutions for various sectors including education and healthcare.
Navient (Nasdaq: NAVI) has announced a Q3 2021 dividend of $0.16 per share, demonstrating the company’s commitment to returning value to shareholders. The dividend will be paid on September 17, 2021, to shareholders recorded by the close of business on September 3, 2021. This decision highlights Navient's financial stability and shareholder value focus amid its ongoing operations in education loan management.
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