Navient Corporation · NASDAQ:NAVI

Navient — Q4 2014 Earnings Presentation

54 slides from Navient's earnings presentation, Mar 2, 2015

1. Slide 1: 2014 4th Quarter Investor Deck

   Exhibit 99.1 2014 4th March 2, Quarter 2015 Investor Deck

2. Slide 2: Forward-Looking Statements

   Forward-Looking 2014 in presentation. Forward-looking factors with company including marketplace to of delays portfolio business among other The assumptions does Navient consumer gains/losses decisions companies. and Confidential this its our core following preparation compliance not credit (the str

3. Slide 3: Overview

   Navient Corporation Confidential and proprietary Overview information © 2015 Navient Solutions, Inc. All rights reserved. 3

4. Slide 4: Key Highlights: leading education loan management, servicing and asset recovery company

   We Key Servicing •Asset As Confidential Taxes Private Department Guarantor Government Court/Municipal Schools of are Businesses December Management Recovery the Education • leading FFELP Servicing and of receivables •Highlights Education 31, proprietary Education loan Loans •Loans Loan 2014 FFELP ma

5. Slide 5: Core Earnings Results

   (In2013 of Gains Debt Adjusted Expenses Reported Operating Confidential millions, repurchase from transactions Core associated Results expenses residual sales except and EPSgains proprietary of“Core before per subsidiaries—$0.14—$0.24 $0.53 $215 (excluding sales listed with ——$0.07 share Earning” $2

6. Slide 6: FFELP Loans Segment Results

   (In millions) Net Average FFELP Annualized Greater Acquired $312 Confidential income million Loans Loan than FFELP $11.3 charge-off $82 90-day and Q4 of spread Segment billion gains $81 Loans 14 proprietary Q4 delinquency 1.00% $296 from rate of $99,323 13 “Core FFELP $513 2014 0.05% residual 1.01%

7. Slide 7: FFELP Loans: Largest Portfolio Holder

   FFELP Largest Portfolio 80% Fully (1) Confidential Ending of integrated Loans portfolio holder is FFELP 97-98% and Segment ofservicing funded proprietary FFELP Loans, government Portfolio toLoans, and net, term information asset aswith guaranteed $105 Characteristics of recovery December securitizat

8. Slide 8: FFELP Loans Credit Quality

   FFELP Credit ($‘s December Balance% Total Percentage Delinquencies Loans repayment Confidential inFFELP in-school/grace/deferment current delinquent in Quality millions) Loans repayment forbearance Balance% 31, 16.6% and ofand Loans Loans, FFELP 65,221 Segment 2014 as “Core forbearance FFELP proprie

9. Slide 9: Outstanding Federal Student Loans Market Distribution

   Outstanding FFELP Federal Source: Confidential owned Loans, Student Loans Department Government and owned by $157 Loan proprietary Navient, ofby Market Education, ED, Student $98 information $875Loan U.S. Department Market © 2015Distribution Navient of Education Solutions, FFYEFY 9/30/2014 Inc. 2014

10. Slide 10: Private Education Loans Segment Results

    (In millions, Net Average Private Provision Charge-offs Annualized Total Greater Forbearance Acquired Confidential income delinquency Education than Private $1.6 forcharge-off $92 $174 rate except 90-day and loan billion $86 Education 3.8% proprietary $230 Loans Loan rate losses FICO delinquency $35

11. Slide 11: Private Education Loan Portfolio Characteristics

    Private $30 22% Approximately Average Higher Integrated (1) Confidential Ending billion of education Education Navient’s FICO underwriting, Private portfolio(1) andat 64%proprietary origination loans total Loans Education of student portfolio typically servicing Segment information of Loans, loan 71

12. Slide 12: Private Education Loans Credit Quality

    Private ($‘s December Balance% Total Percentage Delinquencies Loans repayment Confidential inPrivate in-school/grace/deferment current delinquent delinqent in millions) Education repayment forbearance Balance% 31, and ofand Education Private 24,761 2014 as forbearance greater Private proprietary a61

13. Slide 13: Private Education Loan Portfolio Quality by Risk Segment

    2.9% 90% 100% 80% 70% 30% 40% 50% 60% Dec 0% Low Private 10.4% 12.6% 15% 17.3% 20% 21.3% -25% 6.7% 7.7% 10% 5.6% 5% 9.4% 2.8% 2.6% 1.0% 2008 0% Low 6.3% 08 Risk 14% 27% 28% 57% 6.8% 5.4% 11.1% Education Credit: Credit Dec 4.3% 5.6% 13% 25% 29% 59% Moderate 4.6% 3.9% 3.1% 2.7% Confidential Risk 2009

14. Slide 14: Private Education Loans Historical Default Performance

    0% Private Historical 100% 81% 57% 69% 76% 7% 12% 50% 12 5% 84% 57% Percent87% Education 3% #Defaults Seasoned The 24Defaults of Confidential Payments 89% 36 2% 48 2% total probability Per portfolio Made 90% 60 Loans by 2% 7292% Payments 2% defaults Payments andof 84 Segment proprietary default with

15. Slide 15: Private Education Loans Traditional and Non-Traditional December 2014

    December Traditional Non-Traditional Monthly Loan Not Loans Total Charge-offs Confidential Yet Loans Seasoning Status ininScheduled Forbearance Repayment- Repayment 31, Portfolio in as 0-12 and 2014 Repayment a –Portfolio % proprietary payments “Core of Payments Current Delinq 376 62 438 loans 2,777

16. Slide 16: Private Education Loans Traditional and Non-Traditional December 2013

    December Traditional Non-Traditional Monthly Loan Not Loans Total Charge-offs Confidential Yet Loans Seasoning Status ininScheduled Forbearance Repayment- Repayment 31, Portfolio in as 0-12 and 2013 Repayment a –Portfolio % proprietary payments “Core of Payments Current Delinq 423 70 493 loans 3,535

17. Slide 17: Business Services Segment Results

    Business (In Net Federal Third-Party Department Contingency Asset FFELP Confidential millions) income recovery Loans Loans Services $98 Loan of and Q4 asset beginning serviced Education revenue $187 14 proprietary servicing Segment recovery Q4$428 13 ($’s $80 in on accounts 2014 revenue $609 “Core i

18. Slide 18: Business Services: Federal Loan Servicing

    Business $in 2011 Reducing Largest We Federal Every Confidential 300 275 250 200 175 150 billions promote 2012 week servicer Loan Loans loans Services Student $2013 we 225 success and Servicing serviced Serviced help of 2014 proprietary Loan Segment federal nearly through by & by Default Navient Cus

19. Slide 19: Business Services: Asset Recovery

    Business 2014 Other 12% ED Key Generated Strong Opportunities Non-ED Confidential Related Characteristics Related Asset Revenues compliance government Services $388 Recovery Revenues and Revenues to million -Not expand proprietary Segment infrastructure asset student Revenues 17% 71% of into revenue

20. Slide 20: Funding and Liquidity

    Funding and and Confidential Liquidity proprietary information © 2015 Navient Solutions, Inc. All rights reserved. 20

21. Slide 21: 2014 Capital Markets Summary

    2014 Capital Acquired Refinanced Issued Closed Returned Maintained Confidential $6.8 $1.9 on$849 $13 a$18 $1.1 strong billion $1 and Markets billion billion million billion billion proprietary capital of of ABS long-term in Summary Private toof student FFELP shareholders position FFELP information L

22. Slide 22: 2014 Secured Issuance Funding

    165432 Secured 2014 Issuance Funding Ally Ford 14,252 Chase 13,423 Citigroup Santander Navient 8,350 Auto Auto 10,600 Drive 6,816 // Floorplans Floorplans Credit Credit 6,921 StudentCard Card Auto Loan 7Confidential 10 11 12 13 14 15 16 17 18 19 20 Navient Over Additional Maximum (1) As Toyota GE Ne

23. Slide 23: Recent NAVSL FFELP ABS Issuance

    (2) Recent NAVSL Priced: Settled: Issuance US FFELP Collateral: Prepayment Tranching: A-1 (M)($M)(M)($M) A-2 B (1) Actual Aa1 A1Estimated Govt. Aaa $28 $27 average FFELP February Stafford, February 2015-1 Pricing $344 $630 Amount: Guaranteed 8.3 Confidential 11.8 Class Speed L+190 based 1.5 7.1 ABS

24. Slide 24: Recent Private Education Loan ABS Issuance

    Recent NAVSL Priced: Settled: Issuance Collateral: Prepayment Tranching: A-1 (M)($M)(M)($M) A-2A A-2B A3 B (1) https://www.navient.com/about/investors/debtasset/slmsltrusts/. (2) Confidential Aa3 Yield Estimated Aaa Aaa Aaa $83 Private January $75 January Trust $224 Amount: on $154 Private 9.9 Class

25. Slide 25: Unsecured Debt Maturities

    $4.2 Unsecured As $2.2 $2.5 $2.8 2015 $0.1 $0.8 $1.1 $1.8of 2016 Fitch Senior OutlookDecember $2.1 ConfidentialDebt Moody’s Unsecured Stable 2017 and 31, S&P 2014 Stable 2018 BB(par proprietary Debt2019 Stable Ba3 2020value, 2021$ 2022 information BB in© billions) 2015 2023+Navient Solutions, Inc. A

26. Slide 26: Conservative Balance Sheet Profile

    $51.7 Conservative $70 (par $60 $48.7 $20 $20.1 $10 $0 2006 Years 1.30 value, $501.00 $38.0 $40 $30 $28.0 $30.2 $24.01.20 1.15 December Total Tangible Unsecured$47.2 $45.1 Ending $Debt $39.4 $21.8 Confidential $17.0 1.05 2007 Managed in 1.25Unsecured Equity Net $17.8 31, 2008 billions) December $22.

27. Slide 27: Education Loan Projected Cash Flows

    Education Projected $’s FFELP 12/31/13 12/31/14 Floor $7.1 $7.3 4.2 3.8 1.9 $13.0 Private $14.9 Residual Secured 1.4 1.3 Servicing $12.5 $13.2 6.9 6.8 Unencumbered $13.9 $14.5 Combined $20.8 $21.3 before Enhancing $35.3 $36.2 + Total Cash Since -billion These Confidential 2014 Highly Includes In Add

28. Slide 28: FFELP Loans Projected Cash Flows

    FFELP as 2023 Projected Total No Assumptions These Confidential ofFloor 12/31/14 2024 Cash projections Cash Income, Total FFELP Excess Servicing 2025 Flows and Flows 2015 Revenue 2026 proprietary Spread Average from are CPR/CDR Highly Revenue 2016 based 2027 Projected $1,402 $562 $896 $379 2017 Bala

29. Slide 29: Secured Financings and Residual Cash Flow

    $Secured Servicing Residual Net Average FFELP Private Term Other Total *Note: Confidential in Cash NetResidual* Millions Proceeds Private FFELP Securitized residual Totals Secured Credit Cash Principal (Excess Flow (Cash may and Credit $2014 and Flow represents (Excess FFELP Financings 1,302 95,079

30. Slide 30: FFELP ABS Appendix

    FFELP ABS Appendix Confidential and proprietary information © 2015 Navient Solutions, Inc. All rights reserved. 30

31. Slide 31: Recent FFELP ABS Issue Characteristics

    Recent FFELP Issue Tranches Triple-A Floating Amortizing Navient Collateral Insurance Typically Formerly Offer (1) Confidential Education. Principal size significantly FFELP ABS Solutions, rate rated or anon-dischargeable of or Characteristics 20% tranches pass-through $500M guarantee Transaction an

32. Slide 32: FFELP Program Parameters

    FFELPBased Parameter Parents Consolidation Borrower Needs Students Federal Principal Interest Special Payments Repayment Undergraduate: Aggregate Graduate: (1) Loan Allowance or Guarantee Subsidy Aggregate and Student (SAP) $65,500 Graduate Subsidized Loan Term Yes Program Accrued $23,000 Yes Limit

33. Slide 33: Navient Historical Annualized CPRs: Stafford/PLUS

    Navient Annualized Higher Historical 60% 70% 50% 2003 CPR 30% Quarterly 0% 2010 10% 2008 *-10% 2014 Confidential 2004 Quarterly 2012 2002 2006 40% 2013 prepayment Stafford 20% Stafford/PLUS 2005 CPR CPRs and 2007 & proprietary assumes for PLUS activity Stafford/PLUS ABS School Loan ininformation mid

34. Slide 34: Navient Historical CPRs: Consolidation Loans

    Navient CPRs Higher Historical 20% 25% CPR Quarterly *0% Confidential 15% Quarterly 2011 2002 2004 for prepayment Consolidation 2012 Consolidation 5% Consolidation 2003 2005 CPR and 2007 -5% 10% proprietary assumes 2009 2014 activity 2006 Loan ABS ABS School inPrepayments information trusts CPRs mid

35. Slide 35: Private Education Loan ABS Appendix

    Private Education Confidential and proprietary Loan ABS information Appendix © 2015 Navient Solutions, Inc. All rights reserved. 35

36. Slide 36: Recent Private Education Loan ABS Issue Characteristics

    Recentsize Private Issue Triple-A 20-30% Amortizing Fixed Complies Navient Collateral Collateralized Underwritten 70-80% Many Typically Confidential rate seasoned Private Education Triple-A Solutions, with rated non-dischargeable with of Characteristics ortranches $500M and floating cosigners, using

37. Slide 37: Navient Private Education Loan Programs

    P- Navient Smart Undergraduate/Graduate/ Med/Law/MBA $10k term, Typical interest deferred Origination Certification Disbursement FICO, Borrower and $100,000 Borrowing $150,000 For-Profit; Current Non-Profit; School 1.5% judgmental avg in-school Option Historical L+0% FICO, UW only, Borrower Co-signe

38. Slide 38: Navient Private Education Loan ABS Trusts Summary

    (1) Navient Summary 2011- NAV 11-A Bond Initial Loan Signature/Law/MBA/Med Smart Consolidation Direct Career Total Payment School, Repayment Forbearance % WA WtdLoans FICO Avg 11-B NAV Enhancement 100% Program Amount 2015YTD AAA Option to Training Grace, Private Assumes Status Consumer with Term FIC

39. Slide 39: Navient Private Education Loan Trusts Constant Prepayment Rate

    12 Navient Constant 10 Prepayment ant 20Const Rate 2006-B 2012-A 002-A Private 6prepayment 4 2012-B Confidential 2003-A 2006-CandEducation (CPR) 8 rates 2003-B 2007-A 2012-C Loan increased proprietary 2003-C 2010-A 2012-D Trusts in –Prepayment information 2004-A 2010-B 2012-E 2007 due2013-B 2013-A 2

40. Slide 40: Cohort Default Triangles: Selection Criteria

    (3) Cohort securitization Undergraduate/Graduate DTC Career -Private The (1) trust Program FICO Excludes Undergraduate/Graduate following cohort loans: Training Default Consolidation scores Career Confidential types loans default 670 criteria are cohort andTriangles Training loans: include made base

41. Slide 41: Cohort Default Triangles: Terms

    Cohort The Terms Defaulted -Because Confidential Years Total Repayment Disbursed Periodic cohort and –Default inthe The Repayment Defaults principal calculations default Principal numerator and Year sum Triangles proprietary of –triangles –is includes The Periodic Defaulted Entering –not includes us

42. Slide 42: Cohort Default Triangle: Undergraduate/Graduate

    Cohort Disbursed Undergraduate/Graduate(1) Entering Repayment 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Note: (1) (3) Confidential Undergraduate/Graduate Numerator $1,870 $11 $28 $70 $187 $386 $682 $1,132 $1,537 $2,013 $2,451 $2,933 $3,241 $2,769 $1,101 $49

43. Slide 43: Cohort Default Triangle: Undergraduate/Graduate With and Without Co-signer

    Cohort Undergraduate/Graduate(1) Disbursed Entering Repayment 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Note: (1) (3) Confidential Undergraduate/Graduate Numerator $1,353 $518 $6 $37 $90 $196 $367 $632 $843 $1,121 $1,408 $1,758 $2,075 $1,853 $849 $387 $176

44. Slide 44: Cohort Default Triangle: Non-Profit and For-Profit

    Cohort Undergraduate/Graduate(1) Disbursed Entering Repayment 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Note: (1) (3) Confidential Undergraduate/Graduate Numerator $1,664 $206 $11 $26 $68 $180 $360 $630 $1,006 $1,362 $1,767 $2,103 $2,458 $2,686 $2,378 $1,00

45. Slide 45: Cohort Default Triangle: FICO Undergraduate/Graduate

    Cohort Undergraduate/Graduate(1) Disbursed Entering Repayment 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Note: (2) (4) Confidential FICO Numerator $831 $482 $6 $22 $64 $137 $248 $424 $574 $762 $937 $1,130 $1,325 $1,186 $507 $233 $104 $3 $8 $20 $54 $111 $194

46. Slide 46: Cohort Default Triangle: FICO Undergraduate/Graduate

    Cohort Undergraduate/Graduate(1) Disbursed Entering Repayment 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Note: (2) (4) Confidential FICO Numerator $355 $202 $3 $7 $37 $77 $134 $222 $298 $402 $504 $623 $662 $543 $199 $89 $41 $2 $6 $14 $32 $61 $107 $165 $226 $

47. Slide 47: Cohort Default Triangle: Private Consolidation Loans

    Cohort Private Disbursed Entering Repayment 2006 2007 2008 Note: (1) (2) Confidential Periodic Numerator $249 $675 $376 $125 $295 $133 Data Default Consolidation Periodic Principal 0.0% as Year Defaults and of isTriangles 12/31/14. 0.1% 0.4% 0.0% 0.2% Repayment the proprietary Defaults amount for Lo

48. Slide 48: Cohort Default Triangle: DTC

    Cohort DTC Disbursed Entering Repayment 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Note: (1) (3) Confidential FICO Numerator $192 $88 With Without $8 $65 $139 $245 $369 $396 $314 $104 $23 $2 $19 $66 $158 $255 $235 $152 $47 $5 Data Default 0.0% Periodic scores 0.1% 0.0% Principal Co-signer, 0.

49. Slide 49: Cohort Default Triangle: Career Training

    Cohort Career Disbursed Entering Repayment 2003 2004 2005 2006 2007 2008 2009 2010 Note: (1) (3) Confidential FICO Numerator $291 $382 $513 $630 $672 $581 $169 $19 Data Training Default Periodic scores 0.0% Principal 0.0% as Year and of isTriangles 0.6% Loans, are 12/31/14. 0.3% 0.4% 0.5% 0.6% 0.2%

50. Slide 50: Appendix

    Navient Corporation Confidential and proprietary Appendix information © 2015 Navient Solutions, Inc. All rights reserved. 50

51. Slide 51: GAAP Results

    GAAP (In Net EPS Operating Provision Average Confidential millions, income $0.64 Results Student $138 expenses $0.60 $263 except and$190 Loans proprietary $2.69 $270 per $215 $628 $1,149 $3.12 $130,192 share $305 $839 information amounts) $1,418 $987 $144,026 $1,042 Q4©14 $134,334 2015 Q4Navient 13

52. Slide 52: Differences between Core Earnings and GAAP

    Differences Year GAAP Net Total 1“Core Confidential Includes impact income ended “Core Earnings” net restructuring income of December tax between Earnings” and SLM derivative goodwill effect adjustments net proprietary $BankCo1 1,149 income “Core 208 31, adjustments and and accounting(573) 2014 Earn

53. Slide 53: Investor Relations Website

    Investor -•https://www.navient.com/about/investors/ Confidential Accrued Archived Additional Static Quarterly Historical Since Distribution Current Prospectus SLM /issued pool NAVI Relations and rates interest and distribution trust information for and historical factors CPR student historical publi

54. Slide 54: Navient

    NAVI=NT.

Navient — Q4 2014 Earnings Presentation on 6ix