Navient Corporation plans an internal reorganization in the fourth quarter of 2026, creating Navient Holdings, Inc. as parent of Navient LLC and E Parent, Inc. (Earnest). Navient Corporation would merge into Relay Merger Sub LLC, which would survive as Navient LLC. Existing common shares would convert one-for-one into Navient Holdings common shares, with no stockholder action required under Section 251(g); the company says the plan could be delayed or not completed.
Upon completion, Navient LLC is to assume the obligations of Navient Corporation’s listed 6% Senior Notes due December 15, 2043 and remain a reporting company. The presentation says Navient LLC will hold legacy loans and Earnest loans originated through December 31, 2026, while Earnest will originate and service new loans. As of June 30, 2026, total loan assets were $42.2 billion, including $31.9 billion in non-strategic legacy assets.
The presentation’s portfolio projection as of June 30, 2026 lists $4.7 billion of discretionary cash before overhead and taxes through 2045, after repayment of secured borrowings. It reports a 9.0% Adjusted Tangible Equity percentage as of June 30, 2026, and an 8%–12% range for the current rating. The common stock is expected to continue trading under NAVI, and the company states holders would not recognize U.S. federal income tax gain or loss on the exchange.
Dimensional Fund Advisors reported beneficial ownership of 4,506,577 Navient Corp (JSM) common shares, equal to 4.8% of the class as of September 30, 2026. It reported sole voting power over 4,408,313 shares and sole dispositive power over 4,506,577 shares; shared voting and dispositive power were zero.
Dimensional stated that the shares are owned by investment companies, trusts, and accounts it advises or manages, and disclaimed beneficial ownership. The Funds have rights to dividends or sale proceeds from their respective accounts; Dimensional stated that, to its knowledge, no individual Fund’s interest exceeds 5% of the class.
NAVIENT CORP director Diane E. Offereins acquired a grant of 10,035 restricted stock shares on September 24, 2026, with a reported per-share price of $0.0000. Her reported holdings after the grant were 10,035 shares. The award is under the Navient Corporation 2024 Omnibus Incentive Plan. Vesting is subject to continued active service on the board: 33.33% on the grant date, 33.33% on November 1, 2026, and 33.34% on February 1, 2027.
NAVIENT CORP (JSM) director Diane E. Offereins reported no securities owned. The holding entry dated September 24, 2026 lists 0 shares held directly.
Navient Corporation appointed Diane E. Offereins to its board effective September 24, 2026. The board determined that she meets the qualifications of an independent director under Nasdaq rules and the company’s Corporate Governance Guidelines. As a non-employee director, she will participate in the compensation program described in Navient’s 2026 proxy statement.
Offereins has over 35 years of financial-services experience and currently serves on the boards of Lendbuzz, Flywire and Brighthouse Financial. She spent over 24 years with Discover Financial Services, where she served as Global Chief Information Officer and later as Executive Vice President, Payment Services. The appointment followed the retirement of a board member in June 2026.
Navient Corporation reported improved profitability for the quarter ended June 30, 2026. GAAP net income was $25 million, or $0.26 per diluted share, up from $14 million and $0.13 a year earlier. Core Earnings net income was $27 million versus $21 million. For the first six months, GAAP net income rose to $42 million from $11 million, while Core Earnings were $47 million, unchanged from the prior year period.
Navient owns and manages education loans totaling $42,249 million net, including $15,674 million of Private Education Loans and $26,575 million of FFELP Loans. Second‑quarter Private Education Loan originations reached $815 million, a 63% year‑over‑year increase, led by refinance loans. The Consumer Lending segment net interest margin was 2.26%, while the Federal Education Loans segment generated a 0.68% margin.
Credit metrics improved but remain a key focus. Private Education Loan net charge‑offs were 1.84% annualized, with delinquencies over 30 days at 5.4% of loans in repayment. FFELP Loans had a 14.7% delinquency rate and a 12.8% forbearance rate. Navient continued restructuring, achieving more than $400 million of expense reductions since 2024, returning $2 million via share repurchases and $15 million in dividends in the quarter. The GAAP equity‑to‑asset ratio was 5.1%, and the Adjusted Tangible Equity Ratio was 9.0%.
Navient Corporation reported second-quarter 2026 GAAP net income of $25 million, or $0.26 diluted earnings per share, compared with $14 million, or $0.13, a year earlier. For the first six months of 2026, GAAP net income was $42 million versus $11 million in the prior-year period. On a Core Earnings basis, net income was $27 million and diluted EPS was $0.29 for the quarter.
In the Consumer Lending segment, net income was $27 million with a net interest margin of 2.26%. Navient originated $815 million of Private Education Loans, a 63% increase from $500 million, including $735 million of refinance originations versus $443 million. Consumer Lending provision for loan losses fell to $18 million from $29 million, while net charge-offs declined and 90‑day delinquencies decreased to $349 million from $459 million, though management notes delinquency and default levels remain elevated. The Federal Education Loans segment generated net income of $26 million versus $30 million a year ago, with a net interest margin of 0.68%.
Operating expenses were $82 million, down from $100 million in the prior-year quarter, reflecting lower transition and restructuring costs partly offset by higher marketing spend. Navient reported a GAAP equity‑to‑asset ratio of 5.1% and an adjusted tangible equity ratio of 9.0%, with total assets of $47.3 billion and total equity of $2.4 billion as of June 30, 2026. Liquidity included $770 million of unrestricted cash and total primary liquidity sources of $1.1 billion. During the quarter, Navient issued $500 million of unsecured debt and $1.3 billion of asset‑backed securities, paid $15 million in common dividends, and repurchased $2 million of common shares. The CEO stated that Navient is “moving forward in a position of strength,” citing benefits from its strategic transformation.
Dimensional Fund Advisors LP reports beneficial ownership of 5,310,075 shares of Navient Corp common stock, representing 5.6% of the class in a report dated June 30, 2026. Dimensional has sole voting power over 5,204,018 shares and sole dispositive power over 5,310,075 shares. The shares are held by underlying funds for which it provides advisory services, and Dimensional disclaims beneficial ownership except for Section 13(d) reporting purposes.
Navient Corporation reports a material cybersecurity incident at a third‑party law firm that provides services to the company. A ransomware attack on the firm’s systems allowed an unauthorized actor to access Company‑related borrower data, including customer names, dates of birth, addresses and Social Security numbers.
Navient engaged external cybersecurity experts, is notifying affected individuals and regulators under applicable laws, and has informed law enforcement. The incident was limited to the law firm’s environment, with no identified unauthorized access to Navient’s own systems and no disruption to operations or customer services. As of this report, Navient does not believe the incident is reasonably likely to have a material impact on its financial condition or results of operations.
Lawson Michael A reported acquisition or exercise transactions in this Form 4 filing.
Navient Corp director Michael A. Lawson received a grant of 18,018 shares of common stock on June 4, 2026, treated as restricted stock under the Navient Corporation 2024 Omnibus Incentive Plan at a reference price of $7.77 per share.
The restrictions lift in four equal installments: 25% on the June 4, 2026 grant date, 25% on August 1, 2026, 25% on November 1, 2026, and 25% on February 1, 2027, subject to continued service on the board. Following this grant, Lawson directly holds 55,928.256 shares of Navient common stock, which include 186.324 dividend equivalent rights that mirror the value of common shares.