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Navient announces extension of legal final maturity dates of FFELP ABS, bringing total bonds extended to $6 billion

WILMINGTON, Del., June 06, 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 $1.1 billion of bonds backed by federally guaranteed student loans. The amendments were effective as of June 6, 2016, and extend the legal final maturity date on SLM Trust 2003-14 A7 and B tranches to 2065, SLM Trust 2004-3 A6 and B tranches to 2064, and the subordinate tranche of SLM Trust 2014-1 to 2068.

Since Dec. 2015, Navient has extended the legal final maturity dates on $6 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