Business development / Finance

Student loan giant Navient cuts ribbon on new Wilmington HQ

The servicer of over $310 billion in student loans moved into its new space in Wilmington earlier this month.

Gov. Jack Markell spoke at the Navient grand opening in Wilmington on Tuesday. (Photo via Facebook)

Gov. Jack Markell spoke at the Navient corporate headquarters ribbon cutting ceremony in Wilmington on Tuesday.
Last April, the student loan management company announced that it had chosen Wilmington for its headquarters. The company, which formed after splitting from Sallie Mae in 2014, is the nation’s largest student loan servicer. It manages over $310 billion in student loans, according to a company press release.
Navient signed a 7-year lease for the 46,000-square-foot building at 123 Justison St., on the riverfront. The company moved into the two-floor space earlier this month.
“I am glad that Navient chose the city of Wilmington as headquarters for this growing new company,” Markell said in the release. “Wilmington is a hub for many financial services companies, and Navient will fit right in. We look forward to working together to help Navient grow and expand in the years to come.”
According to the News Journal, the company plans to add 150 workers by the end of 2016.
Mayor Dennis P. Williams said the riverfront location provides access to the Amtrak station and conveniences for employees.
“This is a strong signal that Wilmington remains a good investment option for businesses and is a preferred location to settle. The city looks forward to working with Navient, and we wish them much success,” Williams said.
At the ceremony, company leaders announced three $15,000 grant awards from the Navient Foundation to various nonprofits in Wilmington. The grants, which were awarded to the Delaware Children’s Museum, West End Neighborhood House and Duffy’s Hope, will support economic development and financial literacy.
Navient is already looking to fill 12 positions at its new offices. Visit the company’s career page here.

Companies: City of Wilmington

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