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Navient announces extension of legal final maturity date of 6 FFELP bonds

WILMINGTON, Del., April 07, 2016 (GLOBE NEWSWIRE) -- Navient (Nasdaq:NAVI), the nation’s leading loan management, servicing and asset recovery company, today announced the amendment of transaction agreements for six Navient-sponsored securitizations totaling $281 million of bonds backed by federally guaranteed student loans. The amendments were effective as of April 6, 2016, and extend the legal final maturity date on the subordinate tranches of SLM Student Loan Trust 2007-7 to 2070, SLM Student Loan Trust 2008-2 to 2083, SLM Student Loan Trust 2008-3 to 2083, SLM Student Loan Trust 2008-6 to 2083, SLM Student Loan Trust 2012-2 to 2072 and SLM Student Loan Trust 2012-3 to 2072.

Since December 2015, Navient has extended the legal final maturity dates on $3.5 billion of bonds from Navient-sponsored FFELP securitizations.

Holders of other bonds may visit Navient’s online investor communication forum at www.dealvector.com/navient to discuss requested legal final maturity date amendments with fellow investors or with Navient directly.

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 public and private sector 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 Corporation