Navient is a new name for an old business: namely, the loan management, servicing, and asset recovery unit of SLM Corp. (aka Sallie Mae). The company services a $300 billion student loan portfolio comprised of federal and private education loans of more than 12 million customers. In addition to indebted former students, Navient helps the government, higher education and business clients in asset recovery. Navient manages the largest portfolio of Federal Family Education Loan Program (FFELP) loans as well as the largest portfolio of private education loans. Created from the strategic separation of Sallie Mae, which continues to provide consumer loans, into two parts, Navient began life as an independent company in 2014.