Navient (NAVI) Q2 FY26 earnings call

Navient reported solid Q2 FY26 core earnings, driven by robust origination growth in refinance and in-school products and significant operating expense reductions. The company is strategically reallocating capital from its legacy private loan portfolio by classifying $528 million as held for sale and adopting fair value accounting for new in-school loans to better align with its growth objectives. While credit performance improved, a moderated pace led to a $23 million reserve build on the remaining private portfolio, reflecting a cautious macroeconomic outlook.