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Navient Corporation is an American student loan servicer based in Wilmington, Delaware. Managing nearly $300 billion in student loans for more than 12 million debtors, the company was formed in 2014 by the split of Sallie Mae into two distinct entities: Sallie Mae Bank and Navient.
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In 2022, Navient offered relief or restitution to select borrowers following a lawsuit by 39 state attorneys general. Eligible borrowers were notified by email in 2022 and received relief ...
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking.Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans.
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It was one of the four largest companies which service United States federal student loans: Great Lakes, Nelnet, Navient, and the Pennsylvania Higher Education Assistance Agency. [2] In 2018, the loan servicing part of the organization was sold to Nelnet .
But it split into two independent companies in 2014 — with one company becoming Navient. Sallie Mae now exclusively offers private student loans to help college students pay for school. It has ...
Navient directed student loan borrowers into more costly repayment plans and away from lower-cost income-based choices, an investigation by the CFPB found. Navient is looking at paying $100 ...