Navient is preparing the first student loan securitization of 2015, the $689.0 million Navient Private Education Loan Trust 2015-A according to Fitch Ratings.

Navient, which was spun off from Salle Mae, issued two private student loan deals in 2014 totaling just over $1 billion. Compared with recent transactions, the pool of loans backing 2015-A has noticeably more loans made to two-year and proprietary/vocational schools, 12.4%, which Fitch expects to perform worse than loans made to four-year schools.

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