Student loan company opens HQ in Wilmington

The snow and frigid temperatures couldn’t keep Navient from celebrating the opening of its brand new headquarters in Wilmington.

The student loan management, servicing and asset recovery company cut the ribbon dedicating its new Riverfront home on Tuesday morning. More than 120 employees moved into the 46,000 square-foot space located at 123 Justison Street in the Star Building earlier this month.

Navient is the nation’s largest student loan servicer. The company provides customer service and collects payments on student loans. In addition, the company provides asset recovery services for a number of government and institutional clients.

“Navient team members deliver best-in-industry service and performance helping our customers on a path to financial success,” said Jack Remondi, president and CEO, Navient. “We’re proud to do that work in Delaware and now be part of the vibrant Wilmington Riverfront.”

“The decision for Navient to establish its nationwide corporate headquarters in Wilmington is a testament to our talented workforce,” said Gov. Jack Markell. “The move is a mark of the progress made in recent years to improve economic opportunities for Delawareans.”

“I thank Navient for demonstrating their commitment and confidence in our city and warmly welcome their employees to Wilmington,” said Wilmington Mayor Dennis Williams. “Navient’s move to the Riverfront represents the growth of new economic opportunities in the city, and supports Wilmington’s longstanding history as a solid investment option for businesses.”

Navient also leases space in the Iron Hill Corporate Center in Newark. The company employs nearly 800 people in Delaware and expects to employ 950 by the end of 2016.

Nonprofit grants 

At the ceremony, company leaders announced three $15,000 grant awards from the Navient Foundation to nonprofits in the city to support economic development and financial literacy: Delaware Children’s Museum, West End Neighborhood House and Duffy’s Hope.

“Limited access to economic resources is one of our community’s greatest needs,” said Paul Calisto, executive director of the West End Neighborhood House. “By supporting economic development and financial literacy, Navient has chosen to invest in the long-term well-being of our community.”

The Navient Foundation and company employees donate resources and volunteer service hours to support other Delaware nonprofits, including the Food Bank of Delaware, Junior Achievement of Delaware, the Nemours Foundation, the Sunday Breakfast Mission, the YMCA of Delaware and the University of Delaware’s NUCLEUS Program, among others.