NEWARK, Del., Oct. 13, 2014 (GLOBE NEWSWIRE) -- More than 12 million student loan customers nationwide will soon see the new name in loan servicing on their accounts. Navient, the nation's leading loan management, servicing and asset recovery company, today completed the transition of its servicing operations. The transition follows the separation of Navient from Sallie Mae in May 2014.
A video accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=28288
"We have been working hard over the past few months to ensure our customers are aware of the change and to incorporate servicing enhancements that make it even easier for them to successfully manage their payments," said John Kane, chief operating officer, Navient. "As we welcome our customers to the Navient brand, we are also excited to launch new online resources to help them navigate the path to financial success."
At its new website, Navient.com, customers will see a new, fresh look designed to assist them manage their online accounts. They will use the same user name and password to access their online account information. If they're in repayment, they can continue to send payments to the same address they have always used. Customers only need to change the payee name to "Navient."
In addition, Navient partnered with EverFi, the leading education technology company, to offer a free interactive online series for customers and the public called the Navient Path to Success. This interactive series covers a range of financial scenarios and other topics for student loan borrowers, including repayment plans, credit scores, and saving money.
Starting in November, many Class of 2014 graduates will begin repaying the money they borrowed for college, as the six-month grace period on their student loans will end. The series explains the range of repayment options available for recent graduates. A Navient customer introduces the interactive learning course, which follows four scenarios covering federal loan repayment plans: Standard, Graduated, Income-Based and Pay As You Earn. The interactive series provides examples, charts and illustrations to make it simple.
The Navient Path to Success series will be expanded over the following months as the company develops and launches six additional new custom modules to help customers.
Customers can visit www.Navient.com/path for the full series.
Over the past few months, the company also has rolled out a new mobile-friendly federal loan payment system, with simple steps to allocate extra payments to a specific loan, implemented an education campaign on income-driven repayment, and developed research-based communications to assist customers facing financial difficulty.
As the nation's leading loan management, servicing and asset recovery company, Navient (Nasdaq:NAVI) helps customers navigate the path to financial success. Servicing more than $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.