President and CEO
President and CEO
Since our creation in 1973, we have learned, evolved, and led in loan management, servicing and asset recovery. Today, Navient supports the educational and economic achievements of millions of customers.
Navient receives the ClearMark Award of Distinction for providing clear and effective messaging during its company separation.
Navient surpasses gender parity with more than 50 percent women on its board and soon after attracts nationwide recognition from 2020 Women on Boards, the Women's Forum of New York, and the New York Stock Exchange Governance Services.
Navient separates from Sallie Mae and becomes a publicly traded company on the NASDAQ under the ticker symbol NAVI.
Sallie Mae celebrates 40 years of helping make education accessible to families around the country. The company announces plans to separate into two publicly traded companies – an education loan management business to be launched with a new name, and a consumer banking business, which will retain the name Sallie Mae.
Sallie Mae begins trading on the NASDAQ stock market under the ticker symbol SLM.
Congress passes the Health Care and Education Reconciliation Act of 2010, which eliminates the public-private partnership Federal Family Education Loan Program (FFELP). Effective July 1, 2010, all federal loans are originated directly by the U.S. Department of Education.
Sallie Mae is selected to service federal loans on behalf of the U.S. Department of Education.
The Higher Education Opportunity Act is enacted, providing new guidelines regarding lender-school relations and loan application disclosures.
Sallie Mae is fully privatized, four years ahead of schedule.
The company acquires two industry-leading default management and collections companies to extend services to schools, guarantors, and borrowers.
Shareholders approve privatization of Sallie Mae.
First securitization transaction valued at $1 billion.
William D. Ford Direct Student Loan Program enacted into law. Clinton Administration announces that Sallie Mae should restructure itself from a GSE to a private company.
Sallie Mae introduces incentives to reward borrowers for establishing good payment habits.
Number of Sallie Mae employees doubles in one year as three new servicing centers are opened to better serve customers.
Sallie Mae owns 24 percent of student loans outstanding, servicing 2 million accounts.
Sallie Mae shares publicly traded on the New York Stock Exchange under ticker symbol SLM.
Total assets exceed $1 billion.
Board authorizes in-house loan servicing operations.
First shareholder meeting is held.
First loan is purchased from 1st Pennsylvania Bank.
The Student Loan Marketing Association (nicknamed “Sallie Mae”) opens its doors as a Government-Sponsored Enterprise (GSE). It is designed to support the guaranteed student loan program created by the Higher Education Act of 1965.