---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-22-012394"
form_type: "8-K"
ticker: "NAVI"
cik: "0001593538"
company_name: "NAVIENT CORP"
filed_at: "2022-09-13T23:59:59+00:00"
generated_at: "2026-06-23T10:04:51.508093+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Navient estimates up to $390M net cash flow reduction if 10% of FFELP borrowers consolidate under debt relief plan

## Summary
- As of June 30, 2022: $427M loan premium, $364M debt deferred fees, $245M loan loss allowance, $125M unrecognized fees, $232M goodwill in FFELP portfolio.
- 10% consolidation of 2M borrowers would accelerate ~$340M cash flows but reduce net cash flows by ~$390M.
- Accelerated amortization of premiums and deferred fees reduces net income; partially offset by allowance release and unrecognized fee recognition.
- $232M goodwill may be impaired depending on the level of loan consolidation activity.
- Impact timeline uncertain; applications accepted through end of 2023; Education Dept. may expand eligibility to privately held federal loans.

## SEC filing metadata
- accession: 0001654954-22-012394
- form_type: 8-K
- ticker: NAVI
- cik: 0001593538
- company_name: NAVIENT CORP
- filed_at: 2022-09-13T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1593538/000165495422012394/0001654954-22-012394-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1593538/000165495422012394/navi_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-22-012394
- JSON: https://secwatch.observer/filing/0001654954-22-012394.json
- Plain text: https://secwatch.observer/filing/0001654954-22-012394.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.