The Department of Education extended its contract with student loan servicer Navient, according to data obtained on a federal procurement website. Here’s what that means for borrowers. (iStock) Student loan servicer Navient extended its federal contract with the Department of Education through 2023, despite previously announcing on Sept. 28 its intention to exit the federal student loan business. The contract renewal was posted on SAM.gov, a website that hosts data about government contracts. The two-year contract extension comes with a $391 million price tag, according to the renewal document. Navient will be responsible for managing “student aid obligations, including, but not limited to, servicing, specialty programs, and consolidation of outstanding…