Description

Navient Corporation, established in 1973 and based in Wilmington, Delaware, specializes in offering extensive education loan management and business process outsourcing solutions. The company caters to a broad range of clients, including those in the education, healthcare, and government sectors, supporting federal, state, and local entities across the United States. Its operational framework is divided into three primary divisions: Federal Education Loans, Consumer Lending, and Business Processing. Under the Federal Education Loans segment, Navient possesses Federal Family Education Loan Program (FFELP) loans, which are backed by guarantees from state or non-profit organizations. This division also handles the servicing and recovery of assets from its proprietary loan portfolio, and it extends asset recovery services to FFELP loans held by other institutions. The Consumer Lending segment focuses on private education loans, actively engaging in their ownership, origination, acquisition, and servicing. This encompasses both refinance products and in-school loans for students currently pursuing their education. Lastly, the Business Processing segment provides a diverse array of services. For healthcare clients, including hospitals, health systems, medical centers, significant physician groups, and public health departments, it offers solutions such as revenue cycle outsourcing, accounts receivable management, extended business office support, consulting, and public health program management. Additionally, this segment delivers business processing services to various governmental bodies, including state agencies, judicial systems, municipal organizations, and authorities responsible for parking and tolling. Beyond these core offerings, Navient also develops tailored solutions to meet specific client requirements and furnishes corporate liquidity portfolio services.