Navient Funding LLC remarkets up to $250.6mln SLM Student Loan Trust notes.

Navient Funding, LLC has filed a registration statement with the SEC for the offering of up to $250.6mln Class A-5 Notes from the SLM Student Loan Trust 2005-5. The notes are backed by student loans and are being remarketed by Navient Funding. The registration statement and prospectus are available on the SEC website.

Navient Funding, LLC has filed a registration statement with the Securities and Exchange Commission (SEC) for the offering of up to $250.6 million in Class A-5 Notes from the SLM Student Loan Trust 2005-5. The notes are backed by student loans and are being remarketed by Navient Funding. The registration statement and prospectus are available on the SEC website [1].

The offering, which includes up to $250.6 million in Class A-5 Notes, is a significant move for Navient Funding as it seeks to capitalize on the remarketing of student loans. The notes are expected to be attractive to investors due to their backing by student loans, which have historically shown resilience in the face of economic fluctuations.

The filing comes at a time when the federal student loan landscape is undergoing substantial changes. President Donald Trump recently signed the "Big, Beautiful Bill," a massive budget reconciliation bill that will significantly alter federal student loan repayment and forgiveness programs. The bill, among other things, repeals the SAVE and PAYE plans, two of the most affordable income-driven repayment options, and introduces a new repayment plan called the Repayment Assistance Plan (RAP) [2].

The changes in federal student loan programs are set to impact many borrowers, including those in the SAVE and PAYE plans. Borrowers in these plans will need to switch to either the Income-Based Repayment (IBR) plan or the new RAP by July 1, 2028. The Big, Beautiful Bill also affects Parent PLUS borrowers, who will lose access to income-driven repayment options if they do not consolidate their loans by July 1, 2026 [2].

Navient Funding's offering is likely to attract investors seeking exposure to the student loan market, given the ongoing changes in federal student loan programs. The notes are being remarketed by Navient Funding, a company with a strong track record in the student loan servicing industry.

Investors should carefully review the registration statement and prospectus available on the SEC website to fully understand the terms and conditions of the offering. The filing provides detailed information about the notes, including their structure, risk factors, and the terms of the offering.

In conclusion, Navient Funding's offering of up to $250.6 million in Class A-5 Notes from the SLM Student Loan Trust 2005-5 is a significant development in the student loan market. The offering is likely to attract investors seeking exposure to the student loan market, given the ongoing changes in federal student loan programs. Investors should carefully review the registration statement and prospectus to make informed investment decisions.

References:
[1] Navient Funding, LLC Registration Statement, SEC Filing.
[2] Adam Minsky, "Student Loan Borrowers Do These 5 Things as the Big Beautiful Bill Takes Effect," Forbes, July 15, 2025.