Navient
123 South Justison Street, Suite 300, Wilmington, DE, 19801, United States
Overview
Navient Corporation holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP Loans), as well as the portfolio of private education loans (Private Education Loans). FFELP Loans are insured or guaranteed by state or not-for-profit agencies and are also protected by contractual rights to recovery from the United States pursuant to guaranty agreements among the United States Department of Education(ED), and these agencies. The Company operates in four segments: Consumer Lending, Business Services, FFELP Loans and Other. At December 31, 2013, 84% of its FFELP Loan portfolio was funded to term with non-recourse, long-term securitization debt. The Company also sold its Campus Solution business and its 529 college-savings plan administration business in 2013 in connection with better aligning its core business. The results of both of these businesses are reported in discontinued operations for all periods presented
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Education
- Family
- Finance
Investment portfolio
- Marlette Funding
Participated · Equity · Jul 2015
Marlette Funding operates the Best Egg online installment loan marketplace and is based in Wilmington, Delaware. The company was founded in August 2013 and launched Best Egg in March 2014. It plans to begin placing loans on its own balance sheet to support growth and partnership initiatives. Marlette has crossed $1 billion in loans originated through Best Egg, and 2015 originations have already far exceeded its 2014 full-year total of $383 million. The company was described as the fastest-growing marketplace lender by Lend Academy and is profitable on a GAAP basis year-to-date 2015, with cumulative break-even achieved. Management says the capital will accelerate growth, expand partnerships, and position the firm as the online consumer lending market evolves.
Team
No current team members are available.