Student loan servicer Navient Corp. said Tuesday that it had extended the maturity of another $469 million of bonds backed by federally guaranteed student loans.

The amendment was effective as of Nov. 14; it extends the legal final maturity a single tranche of notes, the class A3, of a deal completed in 2014. The legal final maturity of the A3 tranche of Navient Trust 2014-8 is now 2049.

Since December 2015, Navient has extended the legal final maturity dates on $7.8 billion of bonds from Navient-sponsored FFELP securitizations.

Nelnet, the second-largest student loan servicer, has also been taking steps to avoid maturity defaults on deal that is sponsors. In September, the company said it had received investor consent to extend the legal final maturity on nine federally guaranteed student loan backed securitizations, by five years: NSLT securities: 2014-4 A1, 2014-4 A2, 2014-4 B, 2011-1 A, 2010-1 A, 2015-3 A3, 2015-3 A2, 2015-3 B, 2015-1 A, 2015-1 B, 2015-2 A2, 2015-2 B, 2014-6 A, 2014-6 B, 2014-5 A, 2014-5 B, and 2010-2 A.

At the time, the company expected to launch a process to seek investor consent to extend its NSLT 2012-3, 2014-2 and 2014-3 transactions “in the very near future.”

Extending a maturity date is considered to be the most effective way to avoid a maturity default, but it requires consent from 100% of investors.

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