Navient helps new college grads build a better budget

Apr 29, 2015

WILMINGTON, Del., April 29, 2015 (GLOBE NEWSWIRE) -- As college seniors prepare to walk across the stage to accept their diplomas next month, many of them also will be stepping into financial independence for the first time. While some Class of 2015 grads are ready for the financial challenges ahead, others may benefit from a few more courses - in personal finance.

Navient, the nation's leading loan management, servicing and asset recovery company, today launched a new interactive learning module about budgeting. Part of the Path to Success series, the budgeting module is free of charge and available to the public. Path to Success features a series of 10-minute learning modules that cover such topics as federal student loan payment options, saving, investing and credit scores. The programs are self-paced and contain knowledge checks that allow users to measure what they have learned.

"We are dedicated to helping customers navigate the path to financial success, and Navient's new budgeting module is another way to help take control of your finances," said Nikki Lavoie, spokeswoman at Navient. "Creating a budget and dedicating yourself to that plan and lifestyle can seem challenging at first, but it can be one of the most important things you can do for your financial future."

The online budgeting module includes tips on separating needs vs. wants; the difference between fixed costs (housing, food, and basic clothing) and voluntary costs (entertainment, expensive clothing and the latest gadgets); and more in-depth content, such as budgeting ratios to help people achieve their goals.

In addition, Navient offers these helpful budget tips for new college graduates:

  • Create a budget. It sounds simple, but it's an important first step. Start by conducting a straightforward accounting of your likely income and anticipated expenses. Figure out how much money you'll earn and what you'll need to spend - and stick to it.
  • Ask yourself: Should I really buy that? A new piece of technology or pair of shoes may seem like a must-have today, but if the cost sets you back from achieving your budgeting goal for the month, it may be best to wait. While everyone deserves to treat themselves now and then, the real power of a budget is the possibility to not only meet your current financial priorities, but also to set and meet important financial goals that will enable you to thrive in the future.
  • Anticipate student loan payments. Most student loans offer a six-month grace period after graduation before payments begin. Use the U.S. Department of Education repayment estimator to explore repayment options and factor your future student loan payments into your budget.
  • Manage other credit wisely. You may find that a check card tied to your bank account will meet your needs and keep nonessential purchases in check. If you choose to use a credit card, be sure to make payments on time and to be responsible about your spending.

For a short preview of Path to Success, visit Navient's YouTube channel. Anyone can also visit for the full series, including the new budgeting course.

Connect with @Navient on FacebookTwitter and LinkedIn.

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 government and higher education clients rely on Navient for proven solutions to meet their financial goals. Learn more at Navient began trading on Nasdaq as an independent company on May 1, 2014.

CONTACT: Media: Nikki Lavoie, 302-283-4057,

         Customers: 888-272-5543