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Why Shares of Navient Fell Today

·2 min read
Why Shares of Navient Fell Today
In this article:
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Shares of student loan servicer Navient (NASDAQ: NAVI) closed Wednesday's trading session down by almost 14% after the company said it had agreed to transfer the servicing of its U.S. Department of Education loans to Maximus (NYSE: MMS). Servicing those loans only provided about 6% of Navient's revenue. Navient adds another 5.6 million borrowers to the list.