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Navient announces extension of legal final maturity dates of FFELP ABS, bringing total bonds extended to $9.3 billion

Dec 13, 2016

WILMINGTON, Del., Dec. 13, 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 $170 million of bonds backed by federally guaranteed student loans. The amendments were effective as of Dec. 12, 2016, and extended the legal final maturity date on the B tranches of SLC Student Loan Trust 2005-3, SLC Student Loan Trust 2006-1, and SLM Student Loan Trust 2005-8 to 2055 and the B tranche of SLM Student Loan Trust 2006-7 to 2056.

Since December 2015, Navient has extended the legal final maturity dates on nearly $9.3 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