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Last updated: July 02. 2014 11:15PM - 3260 Views
By - tkellar@civitasmedia.com



Sallie Mae in the Hanover Industrial Park has separated into two independent companies, Sallie Mae and Navient. Unveiling a new sign Wednesday morning in the park, standing left to right, are Wilkes-Barre Mayor Tom Leighton; Lisa Stashik, vice president Navient; Troy Standish, senior vice president; and Mark Davis of state Sen. John Yudichak's office.
Sallie Mae in the Hanover Industrial Park has separated into two independent companies, Sallie Mae and Navient. Unveiling a new sign Wednesday morning in the park, standing left to right, are Wilkes-Barre Mayor Tom Leighton; Lisa Stashik, vice president Navient; Troy Standish, senior vice president; and Mark Davis of state Sen. John Yudichak's office.
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HANOVER TWP. — Navient used the occasion of unveiling its new look on Wednesday to announce its intention to put more Wyoming Valley residents to work.


The company, which came about when Sallie Mae split into two entities on April 30, introduced a new sign at its Hanover Industrial Park location. Sallie Mae will continue to serve as a consumer banking business, while Navient will handle loan management, servicing and asset recovery.


Nikki Lavoie, corporate communications director for Navient, said a job fair will be held 3 p.m. to 6 p.m. July 9. The company will be hiring new employees for customer service and collection jobs. Manager positions will also be offered.


Lavoie said those interested should bring their résumés with them to the job fair.


Lavoie said there are currently 1,050 employees with Navient, and that the plan is to hire approximately 100 by the end of the year. By the end of 2015, Lavoie said the company will have nearly 1,300 employees at its location in Hanover Township.


“We expect to continue to hire and grow in Wilkes-Barre,” Lavoie said.


The organization announced the new name, Navient, in February.


“Navient is a new name in town, but we have been part of the Wilkes-Barre community for more than 27 years,” said Lisa Stashik, vice president of Navient, in a news release. “The new name represents our commitment to helping Americans navigate the path to financial success.”


Wilkes-Barre Mayor Tom Leighton was present as the new sign was unveiled. He was thankful that the company will remain in the area and offer more employment opportunities.


“I’m pleased to help introduce Navient to the greater Wilkes-Barre area,” Leighton said. “Navient has been a proven leader in workforce development and their commitment to job creation in our region is vital for a stronger economy.”


Sallie Mae, formerly known as SLM Corp., started its operations locally in 1987 at the former Faith Shoe factory on Beekman Street in South Wilkes-Barre. The Wilkes-Barre employees relocated to a newly built center in Hanover Industrial Estates in 1990.


Sallie Mae used to act as an intermediary and earned fees making student loans backed by the federal government, in addition to making private student loans. But a 2010 law consolidated the federal loan program to save costs and cut private lenders out of the process.


Navient will service nearly $300 billion in student loans and provide customer support to assist 12 million customers in paying their education loans. It will also continue to perform asset recovery for government, higher education and business clients and manage a portfolio of FFELP and private education loans.


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