Navient Corporation Stock Price, News & Analysis

Navient (Nasdaq: NAVI) announced its 2021 third quarter financial results, which are available on the company’s investor relations website. The earnings report will also be filed as Form 8-K with the SEC. Navient facilitates education loan management and business processing solutions for education and government sectors. A conference call to discuss these results will take place on October 27, 2021, at 8 a.m. ET, featuring key executives. Stakeholders may access a replay of the call until November 10, 2021.

Navient (Nasdaq: NAVI) announced that its proposal to transfer loan servicing for 5.6 million Department of Education-owned student loan accounts to Maximus has received all necessary approvals. The transfer is effective immediately, with Maximus replacing Navient as the contractor. The transition to Maximus’s servicing division, Aidvantage, will be complete by year-end, ensuring continuity of service for borrowers. Approximately 800 Navient employees will also transfer to Maximus as part of this agreement. For more information, borrowers can visit navient.com/aidvantage.

Navient (Nasdaq: NAVI) announced it will release its 2021 third-quarter financial results on October 26, 2021, after market close. A conference call to discuss these results will take place on October 27, 2021, at 8 a.m. ET. The earnings call will cover topics including Navient's proposal to transfer its Department of Education servicing contract to Maximus. Investors will be notified of the results via news release and on social media. Supplemental financial information will be available on Navient's investor website, enhancing accessibility for stakeholders.

Navient (Nasdaq:NAVI) and Maximus (NYSE:MMS) have signed a definitive agreement to transfer U.S. Department of Education-owned student loan servicing from Navient to Maximus, pending approval from the Department. This transition aims to maintain service quality for borrowers. Once finalized, Navient will exit the loan servicing program as planned, with many employees transferring to Maximus to ensure continuity. The contract novation aims for completion starting October 1, 2021, enhancing Maximus's capabilities in federal student loan servicing.

Navient (NAVI) and Maximus (MMS) have signed an agreement to transfer the servicing of U.S. Department of Education-owned student loans from Navient to Maximus, pending approval from the Department's Federal Student Aid (FSA) office. The transition aims to ensure operational continuity while allowing Navient to focus on non-government loan servicing. Many Navient employees will move to Maximus to maintain high service standards. The contract novation is expected to be finalized in Q4 2021, enhancing Maximus's student loan servicing capabilities.

Earnest has acquired Going Merry, a platform providing students access to scholarships and financial aid tools. This acquisition aims to enhance Earnest's offerings in education finance, enabling better access to financial aid opportunities for students. Going Merry, used by over 50% of US high schools, has helped students secure nearly $100 million in additional financial aid since its inception in 2017. The combined resources will provide tools for financial aid analysis, budgeting, and loan comparison, reinforcing Earnest's mission to make education affordable.

Navient (Nasdaq: NAVI) announced that its President and CEO, Jack Remondi, will participate in a virtual fireside chat at the Barclays 2021 Global Financial Services Conference on Sept. 13 at 8:10 a.m. ET. The session will be accessible via a live video webcast on Navient.com/investors, with a replay available about two hours post-presentation until Sept. 27.

Navient specializes in education loan management and business processing solutions for various sectors including education and healthcare.

Navient (Nasdaq: NAVI) has announced a Q3 2021 dividend of $0.16 per share, demonstrating the company’s commitment to returning value to shareholders. The dividend will be paid on September 17, 2021, to shareholders recorded by the close of business on September 3, 2021. This decision highlights Navient's financial stability and shareholder value focus amid its ongoing operations in education loan management.

Michael Lawson has been appointed to the Navient board of directors, effective August 2, 2021. His extensive background in law, civil rights, and leadership, particularly as president and CEO of the Los Angeles Urban League, is expected to enhance the board's expertise. Lawson's legal career includes significant positions at Skadden, Arps, and service as a U.S. ambassador nominee. His appointment is anticipated to contribute to Navient's mission of empowering education and economic opportunities.