We’re Committed to Transparency
Transparency in Policy Engagement and Political Participation Report
Our goal is to support the success of our customers, employees, and shareholders. We are committed to fulfilling our role as an active corporate citizen with integrity and transparency.
This mid-year report covers activities from January 1, 2023 through June 30, 2023. You can also access the previous reports: 2022 Full Year, 2022 Semiannual, 2021 Full Year, 2021 Semiannual, 2020 Full Year, 2020 Semiannual, 2019 Full Year, 2019 Semiannual, 2018 Full Year, 2018 Semiannual, 2017 Full Year, 2017 Semiannual, 2016 Full Year, 2016 Semiannual, 2015 Full Year
The company’s Government Relations Department, under the direction of the chief legal officer, is responsible for government relations policies and activities and manages all political activities conducted by or on behalf of Navient. The department reports semi-annually to the Board of Directors’ Nominations and Governance Committee on political contribution matters and major lobbying priorities. As required by its charter, the Nominations and Governance Committee is composed entirely of independent directors and receives periodic reports on political risk, payments made to trade associations, and contributions made to other tax-exempt political organizations, as well as contributions by the company’s Political Action Committee. The company maintains compliance processes intended to ensure that Navient and its employees conduct all its activities in accordance with our Code of Business Conduct and with all relevant laws governing political contributions and lobbying activities.
State and Federal Engagement
Policy proposals, legislation, and regulation can have an impact on our customers, employees, and shareholders. Federal, state, and local policy changes can significantly affect our operations, customer outcomes and service experience, revenues, and costs. Because of this impact, we have a responsibility to engage with policymakers to educate, provide fact-based information, and to advance the success of our company and our stakeholders.
We regularly share our expertise, express our views, and provide public officials with factual briefings to inform their decisions. We monitor legislative activities, analyze trends, and advance ideas to benefit our constituencies. Because of our 50 year history in helping customers navigate their way to financial success, members of Congress, congressional and legislative staff, and other policymakers frequently consult with us about the impact of federal and state proposals.
Meaningful engagement requires Navient to participate in the legislative process. The staff of Navient’s Government Relations Department is registered to lobby and actively lobbies on issues that affect our customers and business. Only members of the Government Relations team are authorized to direct lobbying activities on behalf of Navient. Navient policy requires these professionals to work with counsel to ensure that they conduct their activities in compliance with applicable laws, rules, and regulations as well as maintain the highest standards of professional integrity.
We disclose publicly all federal lobbying topics and expenditures on a quarterly basis, in accordance with the Lobbying Disclosure Act. Navient’s quarterly filings are available at Registrations & Quarterly Activity Reports | Lobbying Disclosure. Navient’s political expenditures reflect our interests as a company and are made without regard for the political preferences of any individual director, officer, or employee.
Navient’s disclosures provide all federal lobbying expenditures, including fees paid to outside consultants. During the first half of 2023, Navient engaged the services of the Bose Public Affairs Group, the Madison Group, 1607 Strategies, Tiger Hill Partners, and Stumptown Strategies, each of whom also file disclosures on their fees and activities on behalf of Navient. For the first half of 2023, Navient spent $800,000 on federal lobbying expenditures, including fees paid to outside consultants. This amount was Navient's lowest expenditure in the last 10 years. The chart below shows lobbying expenditures by quarter during that period.
|Trade Association||2023 Membership and Other Fees|
|American FinTech Council||$25,000|
|International Bridge, Tunnel & Turnpike Association||$10,400|
|Organization||2023 Membership and Other Fees|
|Democratic Attorneys General Association||$25,000|
|Democratic Governors Association||$25,000|
|Republican Attorneys General Association||$25,000|
|Republican Governors Association||$25,000|
|U.S. House Candidate||State||District||2023 Contribution|
|Rep. Pete Aguilar (D)||CA||Congressional District 33||$2,500|
|Rep. Nikki Budzinski (D)||IL||Congressional District 13||$1,000|
|Rep. Tom Emmer (R)||MN||Congressional District 06||$5,000|
|Rep. Michelle Fischbach (R)||MN||Congressional District 07||$1,000|
|Rep. Virginia Foxx (R)||NC||Congressional District 05||$1,000|
|Rep. Jennifer Kiggans (R)||VA||Congressional District 02||$1,000|
|Rep. Julia Letlow (R)||LA||Congressional District 05||$2,500|
|Rep. Stephen Lynch (D)||MA||Congressional District 08||$1,000|
|Rep. Kevin McCarthy (R)||CA||Congressional District 20||$2,500|
|Rep. Lisa McClain (R)||MI||Congressional District 10||$1,500|
|Jennifer McClellan (D)||VA||Congressional District 04||$1,000|
|Rep. Patrick McHenry (R)||NC||Congressional District 10||$2,500|
|Rep. Joe Neguse (D)||CO||Congressional District 02||$1,000|
|Rep. Bryan Steil (R)||WI||Congressional District 01||$2,000|
|Rep. Maxine Waters (D)||CA||Congressional District 43||$1,500|
|Rep. Nikema Williams (D)||GA||Congressional District 05||$1,000|
|U.S. Senate Candidate||State||District||2023 Contribution|
|Sen. Marsha Blackburn (R)||TN||United States Senate||$2,500|
|Sen. William Cassidy (R)||LA||United States Senate||$1,000|
|Sen. Chris Coons (D)||DE||United States Senate||$1,000|
|Sen. Eric Schmitt (R)||MO||United States Senate||$1,000|
|Sen. Thomas Tuberville (R)||AL||United States Senate||$1,000|
|Leadership PAC||Sponsor||2023 Contribution|
|CASS PAC||Sen. Bill Cassidy (R-LA)||$1,000|
|BARR PAC||Rep. Andy Barr (R-KY)||$5,000|
|Blue Hen PAC||Sen. Chris Coons (D-DE)||$5,000|
|Defend the Dream PAC||Sen. Alex Padilla (D-CA)||$1,000|
|TIM PAC||Sen. Tim Scott (R-SC)||$5,000|
|Congressional Black Caucus PAC (D)||$5,000|
|Equality PAC (D)||$5,000|
|New Democrat Coalition Action Fund (D)||$5,000|