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Organization and Business | 12 Months Ended
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Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Organization and Business | 1. Organization and B usiness Navient’s Business 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, health care and government. Learn more at navient.com. With a focus on data-driven insights, service, compliance and innovative support, Navient’s business consists of: • Federal Education Loans We own a portfolio of $38 billion of federally guaranteed Federal Family Education Loan Program (FFELP) Loans. As a servicer on our own portfolio and for third parties, we deploy data-driven approaches to support the success of our customers. Our flexible and scalable infrastructure manages large volumes of complex transactions, simplifying the customer experience and continually improving efficiency. • Consumer Lending We help students and families succeed through the college journey with innovative planning tools, student loans and refinancing products. Our $17 billion Private Education Loan portfolio demonstrates high customer success rates. In 2023, we originated approximately $1 billion of Private Education Loans. • Business Processing We leverage our loan servicing expertise to provide business processing solutions for approximately 500 public sector and healthcare organizations, and their tens of millions of clients, patients, and constituents. Our suite of omnichannel customer experience, digital processing and revenue cycle solutions enables our clients to deliver better results for the people they serve.

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