Navient Student Loan Trust 2014 8
04/07/2026 | Press release | Distributed by Public on 04/07/2026 07:47
Asset-Backed Issuer Distribution Report (Form 10-D)
Navient Student Loan Trust 2014-8
Monthly Servicing Report
Distribution Date 03/25/2026
Collection Period 02/01/2026 - 02/28/2026
Navient Funding, LLC - Depositor
Navient Solutions - Master Servicer and Administrator
Deutsche Bank National Trust Company - Indenture Trustee
Deutsche Bank Trust Company Americas - Eligible Lender Trustee
Navient Funding - Excess Distribution Certificateholder
|
Page 1 of 9
|
Trust 2014-8 Monthly Servicing Report: Collection Period 02/01/2026 - 02/28/2026, Distribution Date 03/25/2026 |
| I. |
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
11/25/2014
|
01/31/2026
|
02/28/2026
|
|||||||||
|
|
Principal Balance
|
$
|
986,262,493.46
|
$
|
227,554,639.67
|
$
|
225,158,235.98
|
||||||
|
|
Interest to be Capitalized Balance
|
9,997,361.62
|
2,893,192.94
|
2,860,810.61
|
|||||||||
|
|
Pool Balance
|
$
|
996,259,855.08
|
$
|
230,447,832.61
|
$
|
228,019,046.59
|
||||||
|
|
Specified Reserve Account Balance
|
5,098,821.00
|
- N/A -
|
- N/A -
|
|||||||||
|
|
Adjusted Pool (1)
|
$
|
1,001,358,676.08
|
$
|
230,447,832.61
|
$
|
228,019,046.59
|
||||||
|
|
Weighted Average Coupon (WAC)
|
5.29%
|
|
6.88%
|
|
6.88%
|
|
||||||
|
|
Number of Loans
|
247,055
|
37,244
|
36,764
|
|||||||||
|
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
22,809,012.42
|
$
|
22,596,423.61
|
||||||||
|
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
207,638,820.19
|
$
|
205,422,622.98
|
||||||||
|
|
Pool Factor
|
0.225981472
|
0.223599759
|
||||||||||
|
|
Since Issued Constant Prepayment Rate
|
(44.03)%
|
|
(44.23)%
|
|
||||||||
| (1) |
The Specified Reserve Account balance is included in the Adjusted Pool until the Pool Balance is less than or equal to 40% of the original pool.
|
|
B
|
Debt Securities
|
Cusip/Isin
|
02/25/2026
|
03/25/2026
|
|||||||
|
A3
|
63939DAC9
|
$
|
200,243,354.28
|
$
|
197,838,856.12
|
||||||
| B |
63939DAD7
|
$
|
27,900,000.00
|
$
|
27,900,000.00
|
||||||
|
C
|
Account Balances
|
02/25/2026
|
03/25/2026
|
||||||
|
|
Reserve Account Balance
|
$
|
1,019,764.00
|
$
|
1,019,764.00
|
||||
|
|
Capitalized Interest Account Balance
|
-
|
-
|
||||||
|
|
Floor Income Rebate Account
|
$
|
274,009.23
|
$
|
111,189.21
|
||||
|
|
Supplemental Loan Purchase Account
|
-
|
-
|
||||||
|
D
|
Asset / Liability
|
02/25/2026
|
03/25/2026
|
||||||
|
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
230,447,832.61
|
$
|
228,019,046.59
|
||||
|
|
Total Notes
|
$
|
228,143,354.28
|
$
|
225,738,856.12
|
||||
|
|
Difference
|
$
|
2,304,478.33
|
$
|
2,280,190.47
|
||||
|
|
Parity Ratio
|
1.01010
|
1.01010
|
||||||
|
Page 2 of 9
|
Trust 2014-8 Monthly Servicing Report: Collection Period 02/01/2026 - 02/28/2026, Distribution Date 03/25/2026 |
| II. |
Trust Activity 02/01/2026 through 02/28/2026
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
433,860.08
|
||||
|
Guarantor Principal
|
1,553,481.00
|
||||
|
Consolidation Activity Principal
|
1,057,067.09
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
46,678.74
|
||||
|
Total Principal Receipts
|
$
|
3,091,086.91
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
229,608.04
|
||||
|
Guarantor Interest
|
69,020.43
|
||||
|
Consolidation Activity Interest
|
44,420.48
|
||||
|
Special Allowance Payments
|
97,000.95
|
||||
|
Interest Subsidy Payments
|
163,806.13
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
0.00 |
|
|||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
21,910.47
|
||||
|
Total Interest Receipts
|
$
|
625,766.50
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
- | ||
|
D
|
Investment Income
|
$
|
11,647.33
|
||
|
E
|
Funds Borrowed from Next Collection Period
|
-
|
|||
|
F
|
Funds Repaid from Prior Collection Period
|
-
|
|||
|
G
|
Loan Sale or Purchase Proceeds
|
-
|
|||
|
H
|
Initial Deposits to Collection Account
|
-
|
|||
|
I
|
Excess Transferred from Other Accounts
|
$ |
274,009.23
|
||
|
J
|
Other Deposits
|
-
|
|||
|
K
|
Funds Released from Capitalized Interest Account
|
-
|
|||
|
L
|
Less: Funds Previously Remitted:
|
||||
|
Servicing Fees to Servicer
|
-
|
||||
|
Consolidation Loan Rebate Fees to Dept. of Education
|
-
|
||||
|
Floor Income Rebate Fees to Dept. of Education
|
$ |
(210,760.29)
|
|||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(111,189.21)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
3,680,560.47
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(694,683.22)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
33,917.86
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
$ |
47,632.01
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2014-8 Monthly Servicing Report: Collection Period 02/01/2026 - 02/28/2026, Distribution Date 03/25/2026 |
| III. |
2014-8 Portfolio Characteristics
|
|
02/28/2026
|
01/31/2026
|
||||||||||||||||||||||||||||||||
|
Wtd Avg Coupon
|
# Loans
|
Principal
|
% of Principal
|
Wtd Avg Coupon
|
# Loans
|
Principal
|
% of Principal
|
||||||||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.32%
|
|
21
|
$
|
101,931.00
|
0.045%
|
|
6.32%
|
|
21
|
$
|
101,931.00
|
0.045%
|
|
||||||||||||||||||
|
|
GRACE |
6.06%
|
|
4
|
$
|
7,500.00
|
0.003%
|
|
6.06%
|
|
4
|
$
|
7,500.00
|
0.003%
|
|
||||||||||||||||||
|
|
DEFERMENT |
6.62%
|
|
2,383
|
$
|
14,006,833.56
|
6.221%
|
|
6.61%
|
|
2,332
|
$
|
13,390,087.45
|
5.884%
|
|
||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.87%
|
|
23,575
|
$
|
133,282,339.20
|
59.195%
|
|
6.87%
|
|
23,611
|
$
|
132,600,640.43
|
58.272%
|
|
||||||||||||||||||
|
|
31-60 DAYS DELINQUENT
|
7.03%
|
|
1,281
|
$
|
9,074,205.38
|
4.030%
|
|
6.91%
|
|
1,385
|
$
|
9,785,250.75
|
4.300%
|
|
||||||||||||||||||
|
|
61-90 DAYS DELINQUENT
|
6.91%
|
|
897
|
$
|
6,871,784.82
|
3.052%
|
|
6.94%
|
|
953
|
$
|
6,861,761.45
|
3.015%
|
|
||||||||||||||||||
|
|
91-120 DAYS DELINQUENT
|
6.96%
|
|
616
|
$
|
4,778,522.69
|
2.122%
|
|
6.89%
|
|
599
|
$
|
4,360,683.62
|
1.916%
|
|
||||||||||||||||||
|
|
> 120 DAYS DELINQUENT
|
6.93%
|
|
2,195
|
$
|
16,640,006.34
|
7.390%
|
|
6.94%
|
|
2,418
|
$
|
18,061,686.30
|
7.937%
|
|
||||||||||||||||||
|
|
FORBEARANCE |
6.97%
|
|
4,992
|
$
|
35,110,269.31
|
15.594%
|
|
6.98%
|
|
5,124
|
$
|
36,827,129.48
|
16.184%
|
|
||||||||||||||||||
|
|
CLAIMS IN PROCESS
|
6.86%
|
|
800
|
$
|
5,284,843.68
|
2.347%
|
|
6.86%
|
|
797
|
$
|
5,557,969.19
|
2.442%
|
|
||||||||||||||||||
|
TOTAL
|
36,764
|
$
|
225,158,235.98
|
100.00%
|
|
37,244
|
$
|
227,554,639.67
|
100.00%
|
|
|||||||||||||||||||||||
* Percentages may not total 100% due to rounding
|
Page 4 of 9
|
Trust 2014-8 Monthly Servicing Report: Collection Period 02/01/2026 - 02/28/2026, Distribution Date 03/25/2026 |
| IV. |
2014-8 Portfolio Characteristics (cont'd)
|
|
02/28/2026
|
01/31/2026
|
|||||||
|
Pool Balance
|
$
|
228,019,046.59
|
$
|
230,447,832.61
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
11,294,023.34
|
$
|
11,229,162.17
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
2,860,810.61
|
$
|
2,893,192.94
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,493,942.91
|
$
|
1,552,933.86
|
||||
|
Total # Loans
|
36,764
|
37,244
|
||||||
|
Total # Borrowers
|
13,609
|
13,796
|
||||||
|
Weighted Average Coupon
|
6.88% |
|
6.88% |
|
||||
|
Weighted Average Remaining Term
|
194.79
|
193.95
|
||||||
|
Non-Reimbursable Losses
|
$
|
33,917.86
|
$
|
14,874.71
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
6,505,527.28
|
$
|
6,471,609.42
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-44.23%
|
|
-44.03%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
|
-
|
-
|
|||||
|
Cumulative Rejected Claim Repurchases
|
$
|
618,889.27
|
$
|
618,889.27
|
||||
|
Unpaid Primary Servicing Fees
|
-
|
-
|
||||||
|
Unpaid Administration Fees
|
-
|
-
|
||||||
|
Unpaid Carryover Servicing Fees
|
-
|
-
|
||||||
|
Note Principal Shortfall
|
-
|
-
|
||||||
|
Note Interest Shortfall
|
-
|
-
|
||||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
728,997.70
|
$
|
896,599.05
|
||||
|
Borrower Interest Accrued
|
$
|
1,138,959.60
|
$
|
1,274,130.98
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
48,410.19
|
$
|
52,060.11
|
||||
|
Special Allowance Payments Accrued
|
$
|
31,463.29
|
$
|
34,370.26
|
||||
|
Page 5 of 9
|
Trust 2014-8 Monthly Servicing Report: Collection Period 02/01/2026 - 02/28/2026, Distribution Date 03/25/2026 |
| V. |
2014-8 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
% *
|
|
|||||||||||
|
|
- GSL (1) - Subsidized
|
6.77%
|
|
20,354
|
92,047,726.18
|
40.881%
|
|
||||||||||
|
|
- GSL - Unsubsidized
|
6.76%
|
|
15,643
|
116,421,690.84
|
51.707%
|
|
||||||||||
|
|
- PLUS (2) Loans
|
8.37%
|
|
645
|
15,639,026.45
|
6.946%
|
|
||||||||||
|
|
- SLS (3) Loans
|
7.28%
|
|
122
|
1,049,792.51
|
0.466%
|
|
||||||||||
|
|
- Consolidation Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
Total
|
6.88%
|
|
36,764
|
$
|
225,158,235.98
|
100.000%
|
|
|||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
% *
|
|
|||||||||||
|
|
- Four Year
|
6.89%
|
|
29,067
|
191,157,678.00
|
84.899%
|
|
||||||||||
|
|
- Two Year
|
6.82%
|
|
5,909
|
26,257,515.38
|
11.662%
|
|
||||||||||
|
|
- Technical
|
6.87%
|
|
1,762
|
7,619,052.35
|
3.384%
|
|
||||||||||
|
|
- Other
|
6.59%
|
|
26
|
123,990.25
|
0.055%
|
|
||||||||||
|
|
Total
|
6.88%
|
|
36,764
|
$
|
225,158,235.98
|
100.000%
|
|
|||||||||
*Percentages may not total 100% due to rounding.
| (1) |
Guaranteed Stafford Loan
|
| (2) |
Parent Loans for Undergraduate Students
|
| (3) |
Supplemental Loans to Students. The Unsubsidized Stafford Loan program replaced the SLS program on July 1, 1994.
|
|
Page 6 of 9
|
Trust 2014-8 Monthly Servicing Report: Collection Period 02/01/2026 - 02/28/2026, Distribution Date 03/25/2026 |
| VI. |
2014-8 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
3,680,560.47
|
|||||||
|
A
|
Trustee Fees
|
-
|
$
|
3,680,560.47
|
|||||
|
B
|
Primary Servicing Fee
|
$
|
67,571.37
|
$
|
3,612,989.10
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
3,606,322.10
|
||||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
682,425.57
|
$
|
2,923,896.53
|
||||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
114,612.67
|
$
|
2,809,283.86
|
||||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
2,809,283.86
|
|||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
2,404,498.16
|
$
|
404,785.70
|
||||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$
|
404,785.70
|
|||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
$
|
404,785.70
|
|||||
|
J
|
Carryover Servicing Fee
|
-
|
$
|
404,785.70
|
|||||
|
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$
|
404,785.70
|
|||||
|
L
|
Excess Distribution Certificateholder
|
$
|
404,785.70
|
-
|
|||||
|
Waterfall Triggers
|
|||||
|
A
|
Student Loan Principal Outstanding
|
$
|
225,158,235.98
|
||
|
B
|
Interest to be Capitalized
|
$
|
2,860,810.61
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
1,019,764.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(1,019,764.00)
|
|
|
|
F
|
Total
|
$
|
228,019,046.59
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
197,838,856.12
|
||
|
H
|
Insolvency Event or Event of Default Under Indenture
|
N |
|
||
|
I
|
Available Funds Applied to Class A Noteholders' Distribution Amount Before Any Amounts are Applied to the Class B Noteholders' Distribution Amount (G>F or H=Y)
|
N |
|
||
|
Page 7 of 9
|
Trust 2014-8 Monthly Servicing Report: Collection Period 02/01/2026 - 02/28/2026, Distribution Date 03/25/2026 |
|
VII.
|
2014-8 Distributions
|
Distribution Amounts
|
A3
|
B |
|
||||||
|
Cusip/Isin
|
63939DAC9
|
63939DAD7
|
||||||
|
Beginning Balance
|
$
|
200,243,354.28
|
$
|
27,900,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.60%
|
|
1.50%
|
|
||||
|
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
1 NEW YORK BUSINESS DAY
|
||||||
|
Accrual Period Begin
|
2/25/2026
|
2/25/2026
|
||||||
|
Accrual Period End
|
3/25/2026
|
3/25/2026
|
||||||
|
Daycount Fraction
|
0.07777778
|
0.07777778
|
||||||
|
Interest Rate*
|
4.38169%
|
|
5.28169%
|
|
||||
|
Accrued Interest Factor
|
0.003407981
|
0.004107981
|
||||||
|
Current Interest Due
|
$
|
682,425.57
|
$
|
114,612.67
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
682,425.57
|
$
|
114,612.67
|
||||
|
Interest Paid
|
$
|
682,425.57
|
$
|
114,612.67
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
2,404,498.16
|
-
|
|||||
|
Ending Principal Balance
|
$
|
197,838,856.12
|
$
|
27,900,000.00
|
||||
|
Paydown Factor
|
0.005129049
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.422011212
|
1.000000000
|
||||||
* Pay rates for Current Distribution. For the interest rates applicable to the next distribution date, please see https://images.navient.com/investors/data/abrate.txt.
|
Page 8 of 9
|
Trust 2014-8 Monthly Servicing Report: Collection Period 02/01/2026 - 02/28/2026, Distribution Date 03/25/2026 |
| VIII. |
2014-8 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
|
Notes Outstanding Principal Balance
|
$
|
228,143,354.28
|
||
|
|
Adjusted Pool Balance
|
$
|
228,019,046.59
|
||
|
|
Overcollateralization Amount
|
$
|
2,280,190.47
|
||
|
|
Principal Distribution Amount
|
$
|
2,404,498.16
|
||
|
|
Principal Distribution Amount Paid
|
$
|
2,404,498.16
|
||
|
B
|
Reserve Account Reconciliation
|
||||
|
|
Beginning Period Balance
|
$
|
1,019,764.00
|
||
|
|
Reserve Funds Utilized
|
0.00
|
|||
|
|
Reserve Funds Reinstated
|
0.00
|
|||
|
|
Balance Available
|
$
|
1,019,764.00
|
||
|
|
Required Reserve Acct Balance
|
$
|
1,019,764.00
|
||
|
|
Release to Collection Account
|
|
- | ||
|
|
Ending Reserve Account Balance
|
$
|
1,019,764.00
|
||
|
C
|
Floor Income Rebate Account
|
||||
|
|
Beginning Period Balance
|
$
|
274,009.23
|
||
|
|
Deposits for the Period
|
$
|
111,189.21
|
||
|
|
Release to Collection Account
|
$ |
(274,009.23)
|
||
|
|
Ending Balance
|
$
|
111,189.21
|
||
|
|
|||||
|
D
|
Supplemental Purchase Account
|
||||
|
|
Beginning Period Balance
|
-
|
|||
|
|
Supplemental Loan Purchases
|
-
|
|||
|
|
Transfers to Collection Account
|
-
|
|||
|
|
Ending Balance
|
-
|
|||
|
Page 9 of 9
|
Trust 2014-8 Monthly Servicing Report: Collection Period 02/01/2026 - 02/28/2026, Distribution Date 03/25/2026 |
Navient Student Loan Trust 2014 8 published this content on April 07, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 07, 2026 at 13:47 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]