 For example, a debt buyer and debt seller may enter an agreement to transact $20 million face value of debt each month for 12 months at a price of 7%.Since 2005, Navient acquired the portfolio of "private student loans, Direct Department of Education Loans, and student loans that originated under the Federal Family Education Loan (FFEL) Program" account receivables from Sallie Mae.By 2015 U.S. Department of Education had contracted out to various federal accounts receivable collectors, including "Navient-owned Pioneer Credit Recovery, as well as Coast Professional, Enterprise Recovery Systems, National Recoveries and West Asset Management", the management of the "$744.3 billion portfolio of direct student loans".