Navient amended 16 of its securitization trusts, backed by federally guaranteed student loans and under review for downgrade, to give the sponsor the option to purchase up to 10% of the student loans in those trusts; as well as to provide loans to the trust under a revolving credit agreement (RCA).

The loan purchases and any borrowings under the RCA are designed to help ensure payment obligations are met by the trusts' legal final maturity dates, according to a Navient press release. The sponsor was previously allowed to purchase up to 2% of the loans from these trusts.

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