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Navient announces call of $636 million in student loan trusts

WILMINGTON, Del., Sept. 9, 2015 (GLOBE NEWSWIRE) -- Navient (Nasdaq:NAVI), the nation's leading loan management, servicing and asset recovery company, today announced that it is exercising call options on four trusts, SLM Student Loan Trusts 2004-6, 2004-9, 2005-1, 2005-2, backed by federally guaranteed student loans. As a result, all outstanding bonds issued by the four trusts representing $636 million of bonds will be repaid on Oct. 26, 2015.

Earlier this year, the company exercised its call option with respect to eight trusts representing $429 million in bonds, bringing the year-to-date total to $1.1 billion in twelve trusts.

About Navient

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.

CONTACT: Media: Patricia Nash Christel, 302-283-4076, patricia.christel@navient.com Investors: Joe Fisher, 302-283-4075, joe.fisher@navient.com

Source:Navient