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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.
KLANE LARRY A reported acquisition or exercise transactions in this Form 4 filing.
NAVIENT CORP director Larry A. Klane received a grant of phantom stock units as board compensation. He was awarded 18,018.0180 phantom stock units tied to Navient common stock at a reference price of $7.77 per unit, bringing his reported phantom unit balance to 82,436.0625 units.
The units were granted under the Navient Corporation Deferred Compensation Plan for Directors and will be settled in shares of common stock on a one-to-one basis upon distribution. Vesting occurs over time with 25% vesting on the grant date of June 4, 2026, and additional 25% tranches vesting on August 1, 2026, November 1, 2026, and February 1, 2027. His reported holdings also include 4,205.7759 dividend equivalent rights accrued on earlier phantom stock units.
CABRAL ANNA ESCOBEDO reported acquisition or exercise transactions in this Form 4 filing.
Navient Corp director Anna Escobedo Cabral received a grant of 18,018.018 Phantom Stock Units tied to company common stock. These units were awarded under the Navient Corporation Deferred Compensation Plan for Directors and are settled in Navient common shares on a one-to-one basis upon distribution.
The phantom units vest over time with continued service on the Navient Board: 25% on the grant date of June 4, 2026, and additional 25% tranches on August 1, 2026, November 1, 2026, and February 1, 2027. Following this award and accrued dividend equivalents, Cabral holds a total of 84,915.1339 phantom stock units.
ARNOLD FREDERICK reported acquisition or exercise transactions in this Form 4 filing.
NAVIENT CORP director Frederick Arnold received a grant of 18,018 shares of Common Stock as restricted stock compensation at $7.77 per share. After this award, he directly holds 98,885.256 shares of Navient common stock, including 186.324 dividend-equivalent units that track the stock’s value.
The restricted shares vest in four equal installments, with 25% vesting on the June 4, 2026 grant date, and additional 25% tranches scheduled to vest on August 1, 2026, November 1, 2026, and February 1, 2027, subject to continued service on the board.
NAVIENT CORP President & CEO David L. Yowan reported several equity compensation-related transactions in Navient common stock. He exercised 107,363.314 shares of restricted stock units into common stock at $0.00 per share, and Navient withheld 58,158.142 shares
Yowan disposed of 63,881.172 shares36,235.221 PSUs18,018 shares
Following these awards, exercises, tax withholdings, and dispositions, Yowan directly holds 393,243.051 shares
Navient Corporation reported the results of its 2026 Annual Meeting of Shareholders. As of the April 6, 2026 record date, 93,989,417 common shares were outstanding, and 87,236,916 shares, or about 92.81% of those entitled to vote, were represented in person or by proxy.
Shareholders elected six directors, including Frederick Arnold, Edward J. Bramson, Anna Escobedo Cabral, Larry A. Klane, Michael A. Lawson, and David L. Yowan, each receiving substantially more votes "for" than "against." They also ratified KPMG LLP as independent registered public accounting firm for the year ending December 31, 2026.
In advisory votes, shareholders approved the compensation of Navient’s named executive officers and expressed a preference for holding future say-on-pay votes every one year, with one-year frequency receiving the largest support among the alternatives.
Navient Corporation completed a public debt offering of $500,000,000 aggregate principal amount of its 9.375% Senior Notes due 2031. The notes were sold to an underwriting syndicate for resale to the public under Navient’s effective shelf registration statement on Form S-3, using a related prospectus and prospectus supplement.
The notes were issued under Navient’s existing base indenture dated July 18, 2014, as amended by a seventeenth supplemental indenture dated May 29, 2026, with The Bank of New York Mellon serving as trustee. The underwriting agreement includes customary covenants, representations, warranties, indemnification and contribution provisions.