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Navient extends final maturity dates of student loan-backed securitizations

Navient Corp. amended transaction agreements for company-sponsored securitizations, totaling $170 million of bonds backed by federally guaranteed student loans.

The amendments, effective Dec. 12, extended the legal final maturity date on the B tranches of SLC Student Loan Trust 2005-3, SLC Student Loan Trust 2006-1, and SLM Student Loan Trust 2005-8 to 2055. The transaction agreement amendments also extended the B tranche of SLM Student Loan Trust 2006-7 to 2056.

Over the last 12 months, Navient has extended the legal final maturity dates on nearly $9.3 billion of bonds from company-sponsored Federal Family Education Loan Program securitizations.