Navient is hopeful that its purchase of $6.9 billion of student loans from JPMorgan Chase could encourage other banks to consider selling their portfolios.

On Tuesday, after the close of the market, the company announced plans to acquire $3.7 billion in federally guaranteed student loans and $3.2 billion in private education loans from the bank.  It hopes to complete the acquisition in stages this quarter and eventually move the loans to its servicing platforms.

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