Our Story

Our Expertise Spans Five Decades

Helping People Achieve Their Education and Business Goals

We enhance the financial success of our clients and customers by delivering innovative solutions and insights with compassion and personalized service.

Our History

2023

Named one of America’s Best Employers for Diversity.

Recognized by Training magazine with an Apex award for the tenth consecutive year.

2022

Named a Military Friendly Employer for the ninth consecutive year.

Named a Champion of Board Diversity for the eighth time.

2021

Transfers Department of Education student loan servicing contract.

Partners with Boys & Girls Clubs of America to bring career- and college-planning resources to support equity for youth, including those from under-resourced communities.

Acquires Going Merry, a one-stop financial aid platform where students match to and apply for scholarships, institutional aid, and government grants through a single free application.

2020

Earnest recognized as Best Student Loan Refinancing Product by NerdWallet.

2019

Launches private student loans.

2018

Designated a “Trendsetter” in the CPA-Zicklin Index of Corporate Political Disclosure and Accountability.

Announces agreement for First Data to acquire Navient’s student loan technology platform.

2017

Acquires Earnest, a leading financial technology and education finance company.

Purchases $6.9 billion student loan portfolio.

Launches Career Playbook video series to connect customers with leading career advice.

Acquires Duncan Solutions, expanding the company’s tolling, parking, mobility, and infrastructure expertise.

2016

The U.S. Department of Treasury's Internal Revenue Service selects Pioneer Credit Recovery to support its national recovery program.

2015

Launches first study on the financial health of young Americans, Money Under 35.

Receives ClearMark Award of Distinction for providing clear and effective messaging to support successful customer transitions.

Headquarters is established in Wilmington, Delaware.

2014

Surpasses gender parity with more than 50 percent women on its board, attracting nationwide recognition from 2020 Women on Boards, the Women's Forum of New York, and the New York Stock Exchange.

Separates from Sallie Mae and becomes a publicly traded company on the Nasdaq under the ticker symbol NAVI.

2012

Becomes the first student loan servicer to offer a dedicated customer service team to serve military members with student loans.

2010

Congress passes legislation ending the Federal Family Education Loan Program (FFELP); U.S. Department of Education expands its direct lending program to replace FFELP.

2009

Selected to service federal loans on behalf of the U.S. Department of Education.

2004

Government Sponsored Enterprise status is dissolved.

2002

Acquires Pioneer Credit Recovery, an industry-leading asset recovery company, deepening student loan-related services and expanding into other collection services.

2000

USA Group combines with company, expanding services.

1995

First securitization transaction is valued at $1 billion.

1993

Introduces incentives to reward borrowers for establishing good payment habits.

1987

The number of employees doubles in one year as three new servicing centers are opened to better serve two million customers, roughly a quarter of student loans outstanding.

1984

Shares begin publicly trading.

1979

Total assets exceed $1 billion.

1978

Board authorizes in-house loan servicing operations.

1975

First shareholder meeting is held.

First loan is purchased from 1st Pennsylvania Bank.

1973

The Student Loan Marketing Association (nicknamed "Sallie Mae") opens its doors as a Government-Sponsored Enterprise (GSE) to support the student loan program created by the Higher Education Act of 1965.

Our Awards

We're proud to be recognized by diversity and humanitarian organizations for our company's work and for our employees' unwavering commitment.

  • BBB’s Torch Award for Ethics

  • Best Board Diversity Initiative Award

  • Better Business Bureau

  • Champion of Board Diversity

  • ClearMark Award of Distinction

  • Company that Cares

  • CPA-Zicklin "Trendsetter"

  • Financial Capability Innovation Award

  • Governor's ImPAct Award

  • Healthy Workplace Continuing Excellence

  • Human Rights Campaign Corporate Equality Index

  • Military Friendly Employer Award

  • Training Apex Award

  • "W" Company Award

Navient HQ

Our Locations

Members of Team Navient work in service centers in western New York, northeastern Pennsylvania, Indiana, Texas, and Virginia, and in work-from-home settings nationwide.