Navient announces extension of legal final maturity date of FFELP ABS, bringing total bonds extended to $4.8 billion

WILMINGTON, Del., April 18, 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 Navient-sponsored securitizations totaling $1.2 billion of bonds backed by federally guaranteed student loans. The amendments were effective as of April 18, 2016, and extend the legal final maturity date on:

  • SLM Student Loan Trust 2013-6 A3 tranche to 2055 and B tranche to 2083;
  • SLM Student Loan Trust 2014-2 A3 tranche to 2055 and B tranche to 2072; and
  • subordinate tranches of SLM Student Loan Trust 2008-7 and SLM Student Loan 2008-9 to 2083.

Since December 2015, Navient has extended the legal final maturity dates on $4.8 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