Navient Corporation (NasdaqGS:NAVI) is looking for acquisitions. Last week, Navient closed on an $8 billion secured borrowing facility which matures on January 2016. This facility replaced the existing $5.5 billion facility that was set to expire in January 2015.

Joe Depaulo, Principal Financial Officer and Executive Vice President said that the additional $2.5 billion will be available for federally guaranteed loans, acquisitions, or refinancing.