Navient is a U.S. corporation based in Wilmington, Delaware, whose operations include servicing and collecting student loans. Managing nearly $300 billion in student loans for more than 12 million debtors, the company was formed in 2014 by the split of Sallie Mae into two distinct entities, Sallie Mae Bank and Navient. Navient employs 6,000 individuals at offices across the U.S. As of 2018, Navient services 25% of student loans in the United States. Navient was established as Sallie Mae in 1973 as a Government-Sponsored Enterprise called Student Loan Marketing Association . The company was created by Congress to support the student loan program established by the Higher Education Act of 1965.