JSM

This is a series of senior notes issued by Navient Corporation, a major servicer and collector of student loans in the United States. These debt securities represent obligations of Navient and pay periodic interest to holders until maturity. Navient was spun off from Sallie Mae in 2014 and manages one of the largest portfolios of federal and private student loans in the country. The company provides loan servicing, asset recovery, and business processing solutions. Investors in these notes are creditors of Navient and face credit risk based on the company's financial performance and ability to meet its debt obligations.