To change the pager name we can do the following steps.

Step1:

Click on Template> HTML > Jump to widget, blog1

Then expand this line.

Step 2:

Do This.
Ctrl+F for <data:newerPageTitle/>
OR watch this line <data:newerPageTitle/> in the image as given below.and replace it with own name e.g. Newer Essay etc

Step3:

Similarly do this.
Ctrl+F for <data:olderPageTitle/>
and replace this by own text e.g. Older Essay etc.
Result of this edit: See the image given below ; which is obtained after edit.