Navient Corporation (NAVI) reported its first-quarter 2024 financial results on Wednesday, falling short of analyst expectations. The student financing provider’s net interest income declined due to rising interest rates, causing the stock to drop by 5.5%. Despite the earnings miss, Navient provided updates on its strategic initiatives and highlighted its commitment to improving customer service. The company expects to finalize an outsourcing agreement soon and evaluate options for divesting its business processing division.