UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36228 Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) ...

Financial Data and Key Metrics Changes - Core earnings for the quarter totaled $149 million, with adjusted core earnings per share (EPS) of $0.92, leading to an increase in the adjusted core EPS forecast for 2021 to at least $4.50 per share, which is over 40% higher than the initial forecast [8][9][26] - Net interest income increased by $17 million compared to the prior quarter, benefiting from a favorable interest rate environment and lower funding costs [10] - GAAP net income for the third quarter was $173 million or $1.04 per share, compared to $207 million or $1.07 per share in the same quarter of 2020 [41] Business Line Data and Key Metrics Changes - In the Business Processing Solutions (BPS) segment, revenue increased by 36% year-over-year due to contracts assisting states with COVID-related projects [13] - The Consumer Lending segment saw a total of $1.6 billion in private education loans originated, including $153 million in new in-school loans, with expectations to exceed the year-end target of at least $5.5 billion in total volume [32][34] - The Federal Education Loans segment experienced a net interest margin increase of 1 basis point to 104 basis points, despite a 6% decline in net interest income [28] Market Data and Key Metrics Changes - The company originated $1.5 billion in refinancing student loans, a 16% increase from the same quarter last year, despite a tempered demand due to the extension of the interest waiver on federal direct loans [11] - Delinquency rates for loans decreased to 8.5% from 9.3% a year ago, indicating strong credit performance [28] Company Strategy and Development Direction - The company announced the transfer of its servicing contract with the Department of Education to Maximus, which simplifies its business model and allows for a greater focus on growing its Consumer Lending and BPS segments [17][22] - The management emphasized the importance of maintaining a strong efficiency ratio, which was 50% for the quarter, as they transition away from pandemic-related contracts [15][37] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about increased demand for refinancing loans in 2022 following the expiration of the interest and payment waiver on federal loans [12][34] - The company remains cautious about the potential impact of the return to repayment of the federal direct loan portfolio in February, which is reflected in their loan loss reserves [14] Other Important Information - The company reduced its total unsecured debt outstanding by 9% during the quarter, amounting to $757 million, and has no existing maturities for the remainder of 2021 [38] - The company repurchased 26.9 million shares this year, representing 14% of shares outstanding, as part of its capital allocation strategy [16][40] Q&A Session Summary Question: Can you elaborate on the new guidance range and its components? - Management indicated that the guidance reflects better net interest margins (NIM) and portfolio performance, with expectations for NIM to trend lower due to a shift in loan mix [46][48] Question: What are the expectations for in-school loan originations moving forward? - Management noted that in-school loan volume builds upon itself each year, and they aim to significantly grow this volume in the coming academic years [51][54] Question: How does the company view the competitive environment in 2022? - Management expects the marketplace to remain competitive but believes their differentiated product offerings and operational efficiencies will provide an advantage [77][80] Question: What is the anticipated impact of the servicing contract transfer? - Management expects the transfer to simplify operations and reduce costs, with an estimated EPS impact of less than $0.10 for 2022 [90] Question: How does the company plan to allocate capital between dividends and share repurchases? - Management stated that they see value in both dividends and share repurchases, with a preference for returning excess capital through buybacks [72][81]

2021 3rd Quarter Earnings Call Presentation October 27, 2021 Forward-Looking Statements; Non-GAAP Financial Measures The following information is current as of September 30, 2021 (unless otherwise noted) and should be read in connection with Navient Corporation's "Navient" Annual Report on Form 10-K for the year ended December 31, 2020 (the "2020 Form 10-K"), filed by Navient with the Securities and Exchange Commission (the "SEC") on February 26, 2021 and subsequent reports filed by Navient with the SEC. De ...

NAVIENT Barclays Global Financial Services Conference September 13, 2021 Forward-Looking Statements; Non-GAAP Financial Measures The following information is current as of June 30, 2021 (unless otherwise noted) and should be read in connection with Navient Corporation's "Navient" Annual Report on Form 10-K for the year ended December 31, 2020 (the "2020 Form 10-K"), filed by Navient with the Securities and Exchange Commission (the "SEC") on February 26, 2021 and subsequent reports filed by Navient with the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36228 Navient Corporation (Exact name of registrant as specified in its charter) Delaware 46-4054283 (State or other jurisdictio ...

Financial Performance - Adjusted Core Earnings per share increased by 8% to $0.98 compared to $0.91 in the year-ago quarter[15] - Business Processing revenue increased by $66 million, or 103%, to $130 million compared to the year-ago quarter[15] - The company returned $227 million to shareholders through dividends and share repurchases[15] - The Adjusted Tangible Equity Ratio rose to 6.3% compared to 3.6% in Q2 2020, with a pro forma Adjusted Tangible Equity Ratio of 8.0%[15] - Increased 2021 EPS Guidance to $4.20 - $4.30[10] Segment Performance - Federal Education Loans segment net interest margin was stable at 0.97%[8, 17] - Federal Education Loans segment annualized charge-off rate declined to 0.04%[8, 17] - Consumer Lending segment originated $1.3 billion of private education loans[8, 21] - Consumer Lending segment net interest margin was 2.95%[8, 20] - Consumer Lending segment annualized charge-off rate declined to 0.71%[8, 20] - Business Processing segment EBITDA margin was 30%[8, 23]

Navient Corporation (NASDAQ:NAVI) Q2 2021 Earnings Conference Call July 28, 2021 8:00 AM ET Company Participants Nathan Rutledge - Investor Relations Jack Remondi - Chief Executive Officer Joe Fisher - Chief Financial Officer Conference Call Participants Mark DeVries - Barclays Rick Shane - JPMorgan John Hecht - Jefferies Lee Cooperman - Omega Family Office Moshe Orenbuch - Credit Suisse Sanjay Sakhrani - KBW Arren Cyganovich - Citi Operator Ladies and gentlemen, thank you for standing by and welcome to the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36228 Navient Corporation (Exact name of registrant as specified in its charter) Delaware 46-4054283 (State or other jurisdicti ...

Financial Data and Key Metrics Changes - The company reported a record high core net income of $304.5 million, with adjusted core earnings of $1.71 per share, representing a 235% increase compared to the same quarter last year [9][41] - GAAP net income for the first quarter was $370 million or $2 per share, compared to a net loss of $106 million or $0.53 per share in the first quarter of 2020 [41] - The adjusted tangible equity ratio improved to 6.2%, exceeding the target due to strong financial performance and capital release from loan sales [20][40] Business Line Data and Key Metrics Changes - In the federal education loans segment, net interest income increased by 9% to $144 million, despite a 9% decline in average loan balances, driven by a favorable interest rate environment [27] - The consumer lending segment saw a $180 million increase in net income, largely due to two loan sales, with a net interest margin of 299 basis points [29] - The Business Processing Services (BPS) segment achieved an EBITDA margin of 29%, with total revenues doubling to $125 million, primarily due to COVID-related services [35] Market Data and Key Metrics Changes - Delinquency rates for both FFELP and private education loans declined significantly, with total delinquency rates down 21% to $3.8 billion [28] - The charge-off rate in the consumer lending segment fell to 68 basis points, indicating improved credit performance [30] Company Strategy and Development Direction - The company aims to grow its in-school lending business, projecting at least $5.5 billion in new loan originations for 2021 [13] - The strategy includes opportunistically capturing benefits from the low interest rate environment and strong investor demand for quality assets [8][11] - The company plans to increase share repurchases by $200 million to a total of $600 million for the year, reflecting confidence in its financial position [20][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's ability to adapt to changing economic conditions and customer needs, highlighting strong portfolio performance and earnings outlook [21] - The ongoing economic uncertainty has led to a cautious approach in maintaining strong loan loss reserves, despite better-than-expected credit performance [17][31] - Management noted that while COVID-related project work is expected to decline, there are opportunities for more permanent contracts with states [58] Other Important Information - The company completed several financings to achieve lower cost objectives and reduced the balances of expensive debt [18][39] - The company has exited a lease on a more expensive office as part of its efforts to improve operational efficiency [19] Q&A Session Summary Question: Factors leading to loan sales and future sales strategy - Management indicated that strong demand for their asset class and favorable interest rates influenced the decision to sell loans, but they do not plan to adopt a make-and-sell model going forward [44][45] Question: Regulatory and political environment - Management noted a stable regulatory environment with no new developments, while discussing the challenges of broad-based student debt forgiveness proposals [47][48] Question: Business Processing segment scalability and revenue pressure - Management highlighted the agility of their operations during the pandemic, but expects revenue from COVID-related services to decline as the economy reopens [54][58] Question: Analysis of loan sales and future asset management - Management confirmed that they evaluate the present value of cash flows against gains on sale, indicating that current market conditions made the recent sales attractive [64][66] Question: Charge-off outlook and loan origination mix - Management stated they are on track to be below original charge-off targets and reaffirmed the $5.5 billion loan origination forecast without breaking down the mix [78][80]

2021 1st Quarter Earnings Call Presentation April 28, 2021 Forward-Looking Statements; Non-GAAP Financial Measures The following information is current as of March 31, 2021 (unless otherwise noted) and should be read in connection with Navient Corporation's "Navient" Annual Report on Form 10-K for the year ended December 31, 2020 (the "2020 Form 10-K"), filed by Navient with the Securities and Exchange Commission (the "SEC") on February 26, 2021 and subsequent reports filed by Navient with the SEC. Definiti ...