"...Moody's has cut ratings on...$3.9 billion worth of bonds administered by Navient Corp....Some student borrowers are opting to make smaller regular payments while others are putting off their repayment plans for years."
http://www.investopedia.com/news/bonds-based-student-loans-face-downgrades-jpm-navi/?utm_source=linkedin&utm_medium=social&utm_campaign=shareurlbuttons