NEWARK, Del., June 25, 2014 (GLOBE NEWSWIRE) -- Navient (Nasdaq:NAVI) today announced the closing of a new $1 billion private education loan asset-backed commercial paper facility that is supported by four banks and arranged by J.P. Morgan. The facility, which matures on June 24, 2015, will be available for private education loan refinancing and acquisitions.
As the nation's leading loan management, servicing and asset recovery company, Navient (Nasdaq:NAVI) helps customers navigate the path to financial success. Servicing nearly $300 billion in student loans, the company supports the educational and economic achievements of more than 12 million Americans. A growing number of government and higher education clients rely on Navient for proven solutions to meet their financial goals. Learn more at navient.com. Created from the strategic separation of Sallie Mae, Navient began trading on NASDAQ as an independent company on May 1, 2014.