According to a Navient press release, a market leader in student loans, Navient, agreed to buy the Earnest, the fin-tech startup which once aimed to establish a top-notch financial institution, for $155 million in cash. Subject to some regulatory approvals, the deal should finalize by end of the fourth quarter of this year.
For Navient, that is a strategic move and a giant step ahead in the student loans business. Since it started working independently from Sallie Mae in 2014, the company has been dealing mainly with collecting and servicing private and federal student loans accounting for as much as $300 billion in student loans over three years. Since its inception, the management of Navient always showed ambitions to penetrate the student
For Navient, that is a strategic move and a giant step ahead in the student loans business. Since it started working independently from Sallie Mae in 2014, the company has been dealing mainly with collecting and servicing private and federal student loans accounting for as much as $300 billion in student loans over three years. Since its inception, the management of Navient always showed ambitions to penetrate the student