Navient Resolves Legal Matters with Consumer Financial Protection Bureau

About this update from Navient Corporation

HERNDON, Va. , Sept. 12, 2024 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI) today released the following statement after reaching an agreement with the Consumer Financial Protection Bureau to resolve previously disclosed litigation and investigations: This agreement puts these decade-old issues behind us. While we do not agree with the CFPB’s allegations, this resolution is consistent with our go-forward activities and is an important positive milestone in our transformation of the company. Navient is no longer a servicer or purchaser of federal student loans. In 2021, with the approval of the Department of Education , Navient transferred its contract to service government student loans to a third party, and earlier this year, Navient reached an agreement to outsource student loan servicing of its legacy FFELP student loan portfolios, which began on July 1, 2024 . Navient will oversee its third-party servicing provider to meet all operational terms of the agreement. About Navient Navient (Nasdaq: NAVI) provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions of people achieve success. Our customer-focused, data-driven services deliver exceptional results for clients in education, healthcare, and government. Learn more at navient.com . Contact: Media: Paul Hartwick , 302-283-4026, [email protected] Investors: Jen Earyes , 703-984-6801, [email protected] Source: Navient Corporation

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