Putting the big squeeze onto consumers for 16 cents a share. https://seekingalpha.com/news/3576947-navient-declares-0_16-dividend
Feeling guilty?
Navient workers are paying the price for the company's greedy nature. While the organization professes to help students and their families, it is little more than a group of federal debt collectors and private debt sellers (think SLABS). Some of... — read more
Disaster Management Earnings Call
Everyone was listening. No one was laughing. Read between the lines and cut the BS. You know it's not good when they are discussing liquidity. "We were able to quickly and successfully move 90% of our team to a work-from-home status." (Does... — read more
‘I Was Horrified’: For Millions of Borrowers, the Coronavirus Stimulus Law Offers No Relief
"But when he called his student-loan servicer, Navient, Smith was told that he is among the millions of borrowers making payments on commercially held loans who are excluded from the stimulus law. It suspends payments only on federally held loans... — read more
FED SLAB Bailout (TALF 2)
https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20200323b3.pdf
Navient Senior Notes on Sale
Buy Navient Senior Notes and get a 9% annual return. What could possibly go wrong? https://collegemeltdown.blogspot.com/2020/03/coronavirus-and-college-meltdown.html
Navient shares dropping like a rock
https://collegemeltdown.blogspot.com/2020/03/coronavirus-and-college-meltdown.html
States picking up the slack
Legislative action in several states. "Virginia and New Jersey are not alone—Connecticut, New York, Colorado, and more states are positioned to provide students and higher education regulators with more information about arbitration proceedings... — read more
How Navient maximized profits...
SumZero: So Navient is actually incentivized to put student borrowers into delinquency? Taylor Mann, Pine Capital Partners: That’s the one question that really cuts through and clarifies where the heart of this trade lies: the moral hazard. Prior... — read more
Navient revenues down 33 percent from previous year
https://seekingalpha.com/news/3532904-navient-q4-2019-earnings-preview
Video playlist for Navient employees
Have you seen my College Meltdown video playlist? I think you'll find it very educational. Please take a look and share it with your people. https://www.youtube.com/playlist?list=PLcq7zwhpdzfk4Id4RDVVgURl44elXTGLT Please let me know what you... — read more
SLAB Shell Game
"The issuers—student-loan packagers like Navient Corp. and Nelnet Inc.—do not want their bonds downgraded. The investors who own the bonds do not want them downgraded....You just extend the maturity date. If the bond matures in 2026, and you aren’t... — read more
"Navient's High-Yield Bonds Are An Attractive Value"
Just don't take a look underneath it all. https://seekingalpha.com/article/4305378-navients-high-yield-bonds-attractive-value
Revenues down but profits up?
How are profits up when revenues are down so dramatically? "The consensus EPS Estimate is $0.57 (+7.5% Y/Y) and the consensus Revenue Estimate is $294.5M (-42.4% Y/Y)." https://seekingalpha.com/news/3507321-navient-q3-2019-earnings-preview — read more
Will 2U have ripple effect on Navient?
The College Meltdown reaches elite universities.... https://www.linkedin.com/pulse/2u-whistleblowers-detail-rampant-overpricing-behavior-dahn-shaulis/
Fox in charge of hen house
https://www.forbes.com/sites/zackfriedman/2019/08/26/student-loans-elizabeth-warren/#577178f33466
Navient EPS beats by $0.21, beats on net interest income
Navient (NASDAQ:NAVI): Q2 Non-GAAP EPS of $0.74 beats by $0.21; GAAP EPS of $0.64 beats by $0.13. https://seekingalpha.com/news/3480470-navient-eps-beats-0_21-beats-net-interest-income
Music to remember how evil life is..
Lots of pain (blues, metal, etc.) around https://www.youtube.com/watch?v=QQtb8EtD458 https://www.youtube.com/watch?v=hfNm_z48gig https://www.youtube.com/watch?v=w5JBNcTDtVo https://www.youtube.com/watch?v=96KiSEMHy7Y Here's a really good rap from a... — read more
Maine becomes the latest state with a 'Student Loan Bill of Rights'
"The legislation follows similar actions taken by about a dozen states, including Connecticut and Illinois..." https://finance.yahoo.com/news/more-states-are-taking-matters-into-their-own-hands-on-student-loans-142352038.html
Meet Josh Shapiro
"His lawsuit against Navient is one of about a half dozen around the country against the student-loan servicer. So why is he picking up the mantle of the defanged Consumer Financial Protection Bureau? Because the state is ground zero for student-loan... — read more
Education Affiliates is another subprime college in trouble
With student loan repayment rates of 20 to 24 percent, Education Affiliates is in trouble. Fortis Colleges and Fortis Institutes are the largest brands. https://www.thelayoff.com/t/YYnTEUG
Navient Foundation supports YMCA of Delaware’s Black Achievers program annual college tour
Trying to give back...when you take so much... https://seekingalpha.com/pr/17481258-navient-foundation-supports-ymca-delaware-s-black-achievers-program-annual-college-tour
Navient issuing private student loans
This will hasten the College Meltdown. https://seekingalpha.com/pr/17478287-earnest-launches-private-student-loans
Canyon Capital proceeds with proxy fight at Navient
A takeover will lead to downsizing, but downsizing is inevitable. Looks like a sinking ship... https://seekingalpha.com/news/3448625-canyon-capital-proceeds-proxy-fight-navient
Hoping for a recession? Think again...
"Some investors in higher education may be hoping for an economic downturn, because the industry has typically been counter-cyclical. But this time, there may be no guarantee that a recession will improve the financial condition of the industry... — read more
"Condemned to Debt"
News and analysis of the student loan mess by Professor Richard Fossey https://www.condemnedtodebt.org/
Workers Expose Subprime College Crash in Real Time at TheLayoff.com
"Other pages to watch the larger college meltdown include student loan servicers such as Navient, Sallie Mae, and Nelnet, private colleges such as Liberty University, internet lead generators such as QuinStreet and public universities such as... — read more
Takeover from Canyon Capital?
This should be interesting...but it certainly doesn't look good for workers. https://seekingalpha.com/news/3434479-navient-surges-6_4-percent-canyons-still-willing-deal
America's Most Endangered Private Colleges in 2019
"In 2016, Jeff Selingo and EY published a report stating that more than 800 schools were facing major downsizing, mergers, and closures. But their report did not list the schools most likely to fail. It would appear that higher education and business... — read more
Deceived by DeVry
In 2019, DeVry University continues to deceive consumers through its DeVry website and online recruiting. As a subsidiary of Cogswell Education and Palm Ventures, a shoe-string operation in comparison to its previous parent company, matters could get... — read more
College Meltdown shows few signs of slowing in 2019
"Student loan debt continues to rise. In 2018, there was a significant number of news articles disclosing the negative effects of student loan debt on the lives of Millenials and their families."... — read more
Former Louisiana Attorney General: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Navient Corporation
"KSF’s investigation is focusing on whether Navient’s officers and/or directors breached their fiduciary duties to Navient’s shareholders or otherwise violated state or federal laws. If you have information that would assist KSF in its investigation... — read more
Navient shares continue to drop
How low can it go? https://seekingalpha.com/symbol/NAVI
Say hello to Seth Frotman
Are you prepared? https://www.washingtonpost.com/local/education/new-watchdog-group-aims-to-spur-action-on-student-debt/2018/11/27/8d07afa6-f288-11e8-aeea-b85fd44449f5_story.html?utm_term=.b85cec1e5cc6 https://www.npr.org/sections/money/
Student loan justice and others
Student Loan Justice, Strike Debt, Debt Collective, ITT Tech Warriors, I Am Ai, Higher Ed Not Debt are just a few groups looking for debt relief. https://collegemeltdown.blogspot.com/
AP Expose About Navient
"One of the nation’s largest student loan servicing companies may have driven tens of thousands of borrowers struggling with their debts into higher-cost repayment plans. That’s the finding of a Department of Education audit of practices at Navient... — read more
Bottom Line: Revenues down 17%
Read all the other BS here... https://seekingalpha.com/article/4213955-navient-corp-navi-ceo-jack-remondi-q3-2018-results-earnings-call-transcript?part=single
The Student Loan Debt Crisis Is About to Get Worse (Bloomberg)
"The next generation of graduates will include more borrowers who may never be able to repay." https://www.bloomberg.com/news/articles/2018-10-17/the-student-loan-debt-crisis-is-about-to-get-worse
Did I mention Navient was being sued by four states?
California, Illinois, Pennsylvania, Washington. https://www.nytimes.com/2018/06/28/business/navient-student-loans-california.html
NAVIENT INVESTIGATION INITIATED by Former Louisiana Attorney General
NEW ORLEANS--(BUSINESS WIRE)-- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Navient Corporation (NasdaqGS: NAVI)... — read more