SLM Student Loan Trust 2012-1
11/07/2025 | Press release | Distributed by Public on 11/07/2025 09:38
Asset-Backed Issuer Distribution Report (Form 10-D)
SLM Student Loan Trust 2012-1
Monthly Servicing Report
Distribution Date 10/27/2025
Collection Period 09/01/2025 - 09/30/2025
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 2012-1 Monthly Servicing Report: Collection Period 09/01/2025 - 09/30/2025, Distribution Date 10/27/2025
|
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
01/19/2012
|
08/31/2025
|
09/30/2025
|
|||||||||
|
|
Principal Balance
|
$
|
729,487,882.66
|
$
|
125,227,540.73
|
$
|
124,411,858.45
|
||||||
|
|
Interest to be Capitalized Balance
|
17,615,101.99
|
1,620,644.59
|
1,549,379.14
|
|||||||||
|
|
Pool Balance
|
$
|
747,102,984.65
|
$
|
126,848,185.32
|
$
|
125,961,237.59
|
||||||
|
|
Capitalized Interest Account Balance
|
$
|
5,000,000.00
|
-
|
-
|
||||||||
|
|
Specified Reserve Account Balance
|
1,911,821.00
|
- N/A -
|
- N/A -
|
|||||||||
|
|
Adjusted Pool (1)
|
$
|
754,014,805.65
|
$
|
126,848,185.32
|
$
|
125,961,237.59
|
||||||
|
|
Weighted Average Coupon (WAC)
|
6.64%
|
|
6.88%
|
|
6.88%
|
|
||||||
|
|
Number of Loans
|
174,879
|
18,772
|
18,555
|
|||||||||
|
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
137,223.02
|
$
|
137,493.75
|
||||||||
|
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
126,710,962.30
|
$
|
125,823,743.84
|
||||||||
|
|
Pool Factor
|
0.165873522
|
0.164713701
|
||||||||||
|
|
Since Issued Constant Prepayment Rate
|
(92.94)%
|
|
(92.15)%
|
|
||||||||
| (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
|
09/25/2025
|
10/27/2025
|
||||||
|
|
A3
|
78446WAC1
|
$
|
101,708,185.32
|
$
|
100,862,679.39
|
||||
|
|
B
|
78446WAD9
|
$
|
23,140,000.00
|
$
|
23,140,000.00
|
||||
|
C
|
Account Balances
|
09/25/2025
|
10/27/2025
|
||||||
|
|
Reserve Account Balance
|
$
|
764,728.00
|
$
|
764,728.00
|
||||
|
|
Capitalized Interest Account Balance
|
-
|
-
|
||||||
|
|
Floor Income Rebate Account
|
$
|
29,423.05
|
$
|
56,216.09
|
||||
|
|
Supplemental Loan Purchase Account
|
-
|
-
|
||||||
|
D
|
Asset / Liability
|
09/25/2025
|
10/27/2025
|
||||||
|
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
126,848,185.32
|
$
|
125,961,237.59
|
||||
|
|
Total Notes
|
$
|
124,848,185.32
|
$
|
124,002,679.39
|
||||
|
|
Difference
|
$
|
2,000,000.00
|
$
|
1,958,558.20
|
||||
|
|
Parity Ratio
|
1.01602
|
1.01579
|
||||||
|
Page 2 of 9
|
Trust 2012-1 Monthly Servicing Report: Collection Period 09/01/2025 - 09/30/2025, Distribution Date 10/27/2025
|
|
II.
|
Trust Activity 09/01/2025 through 09/30/2025
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
340,507.97
|
||||
|
Guarantor Principal
|
550,980.59
|
||||
|
Consolidation Activity Principal
|
417,741.52
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
|
|||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
1,309,230.08
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
170,752.19
|
||||
|
Guarantor Interest
|
18,119.36
|
||||
|
Consolidation Activity Interest
|
3,930.21
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
0.00
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
11,074.92
|
||||
|
Total Interest Receipts
|
$
|
203,876.68
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
|
D
|
Investment Income
|
$
|
8,555.85
|
||
|
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
|
|
-
|
||
|
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
|
|
-
|
|
||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(26,793.04)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
1,494,869.57
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(493,547.80)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
14,796.58
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
-
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2012-1 Monthly Servicing Report: Collection Period 09/01/2025 - 09/30/2025, Distribution Date 10/27/2025
|
|
III.
|
2012-1 Portfolio Characteristics
|
|
09/30/2025
|
08/31/2025
|
||||||||||||||||||||||||||||||||
|
|
|
Wtd Avg Coupon
|
# Loans |
Principal |
% of Principal
|
Wtd Avg Coupon
|
# Loans
|
Principal
|
% of Principal
|
||||||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.80%
|
|
10
|
$
|
55,670.16
|
0.045%
|
|
6.80%
|
|
12
|
$
|
75,670.16
|
0.060%
|
|
||||||||||||||||||
|
GRACE
|
6.80%
|
|
4
|
$
|
40,500.00
|
0.033%
|
|
6.80%
|
|
2
|
$
|
20,500.00
|
0.016%
|
|
|||||||||||||||||||
|
DEFERMENT
|
6.76%
|
|
1,186
|
$
|
7,112,923.92
|
5.717%
|
|
6.76%
|
|
1,214
|
$
|
7,606,273.71
|
6.074%
|
|
|||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.88%
|
|
11,974
|
$
|
75,426,129.77
|
60.626%
|
|
6.87%
|
|
11,892
|
$
|
73,108,395.88
|
58.380%
|
|
||||||||||||||||||
|
31-60 DAYS DELINQUENT
|
6.94%
|
|
623
|
$
|
4,871,588.87
|
3.916%
|
|
6.89%
|
|
862
|
$
|
6,844,308.10
|
5.465%
|
|
|||||||||||||||||||
|
61-90 DAYS DELINQUENT
|
6.89%
|
|
561
|
$
|
4,441,255.99
|
3.570%
|
|
6.95%
|
|
523
|
$
|
4,428,201.46
|
3.536%
|
|
|||||||||||||||||||
|
91-120 DAYS DELINQUENT
|
6.96%
|
|
321
|
$
|
2,766,738.68
|
2.224%
|
|
6.99%
|
|
311
|
$
|
2,626,425.22
|
2.097%
|
|
|||||||||||||||||||
|
> 120 DAYS DELINQUENT
|
6.89%
|
|
1,322
|
$
|
10,303,173.39
|
8.282%
|
|
6.85%
|
|
1,389
|
$
|
10,390,148.22
|
8.297%
|
|
|||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||
|
|
FORBEARANCE
|
6.89%
|
|
2,364
|
$
|
17,939,903.18
|
14.420%
|
|
6.94%
|
|
2,413
|
$
|
19,073,782.26
|
15.231%
|
|
||||||||||||||||||
|
|
CLAIMS IN PROCESS
|
6.80%
|
|
190
|
$
|
1,453,974.49
|
1.169%
|
|
6.88%
|
|
154
|
$
|
1,053,835.72
|
0.842%
|
|
||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||
|
TOTAL
|
18,555
|
$
|
124,411,858.45
|
100.00%
|
|
18,772
|
$
|
125,227,540.73
|
100.00%
|
|
|||||||||||||||||||||||
* Percentages may not total 100% due to rounding
|
Page 4 of 9
|
Trust 2012-1 Monthly Servicing Report: Collection Period 09/01/2025 - 09/30/2025, Distribution Date 10/27/2025
|
|
IV.
|
2012-1 Portfolio Characteristics (cont'd)
|
|
09/30/2025
|
08/31/2025
|
|||||||
|
Pool Balance
|
$
|
125,961,237.59
|
$
|
126,848,185.32
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
6,022,085.10
|
$
|
6,042,612.86
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
1,549,379.14
|
$
|
1,620,644.59
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
809,403.77
|
$
|
798,704.93
|
||||
|
Total # Loans
|
18,555
|
18,772
|
||||||
|
Total # Borrowers
|
7,866
|
7,962
|
||||||
|
Weighted Average Coupon
|
6.88%
|
|
6.88%
|
|
||||
|
Weighted Average Remaining Term
|
190.69
|
190.00
|
||||||
|
Non-Reimbursable Losses
|
$
|
14,796.58
|
$
|
12,976.47
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
4,617,473.62
|
$
|
4,602,677.04
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-92.15%
|
|
-92.94%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
-
|
-
|
||||||
|
Cumulative Rejected Claim Repurchases
|
$
|
385,108.47
|
$
|
385,108.47
|
||||
|
Unpaid Primary Servicing Fees
|
-
|
-
|
||||||
|
Unpaid Administration Fees
|
-
|
-
|
||||||
|
Unpaid Carryover Servicing Fees
|
-
|
-
|
||||||
|
Note Principal Shortfall
|
$ |
41,441.80
|
|
-
|
||||
|
Note Interest Shortfall
|
-
|
-
|
||||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
508,388.17
|
$
|
452,226.97
|
||||
|
Borrower Interest Accrued
|
$
|
675,065.03
|
$
|
700,676.34
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
25,984.66
|
$
|
27,667.62
|
||||
|
Special Allowance Payments Accrued
|
$
|
25,485.61
|
$
|
24,086.14
|
||||
|
Page 5 of 9
|
Trust 2012-1 Monthly Servicing Report: Collection Period 09/01/2025 - 09/30/2025, Distribution Date 10/27/2025
|
|
V.
|
2012-1 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
|
- GSL (1) - Subsidized
|
6.77%
|
|
9,948
|
48,887,047.82
|
39.295%
|
|
||||||||||
|
|
- GSL - Unsubsidized
|
6.79%
|
|
8,201
|
68,251,869.19
|
54.860%
|
|
||||||||||
|
|
- PLUS (2) Loans
|
8.47%
|
|
406
|
7,272,941.44
|
5.846%
|
|
||||||||||
|
|
- SLS (3) Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
- Consolidation Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
Total
|
6.88%
|
|
18,555
|
$
|
124,411,858.45
|
100.000%
|
|
|||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
|
- Four Year
|
6.88%
|
|
15,233
|
106,989,056.56
|
85.996%
|
|
||||||||||
|
|
- Two Year
|
6.86%
|
|
2,777
|
14,403,510.90
|
11.577%
|
|
||||||||||
|
|
- Technical
|
6.85%
|
|
543
|
3,017,842.14
|
2.426%
|
|
||||||||||
|
|
- Other
|
6.80%
|
|
2
|
1,448.85
|
0.001%
|
|
||||||||||
|
|
Total
|
6.88%
|
|
18,555
|
$
|
124,411,858.45
|
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 2012-1 Monthly Servicing Report: Collection Period 09/01/2025 - 09/30/2025, Distribution Date 10/27/2025
|
|
VI.
|
2012-1 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
1,494,869.57
|
|||||||
|
A |
Trustee Fees |
- |
$ |
1,494,869.57 |
|||||
|
B
|
Primary Servicing Fee
|
$
|
41,149.23
|
$
|
1,453,720.34
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
1,447,053.34
|
||||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
490,053.54
|
$
|
956,999.80
|
||||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
111,493.87
|
$
|
845,505.93
|
||||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
845,505.93
|
|||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
845,505.93
|
|
-
|
||||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
|
-
|
|||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
|
-
|
|||||
|
J
|
Carryover Servicing Fee
|
-
|
|
-
|
|||||
|
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
|
-
|
|||||
|
L
|
Excess Distribution Certificateholder
|
|
-
|
|
-
|
|
|||
|
Waterfall Triggers
|
|||||
| A |
Student Loan Principal Outstanding
|
$
|
124,411,858.45
|
||
|
B
|
Interest to be Capitalized
|
$
|
1,549,379.14
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
764,728.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(764,728.00)
|
|
|
|
F
|
Total
|
$
|
125,961,237.59
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
100,862,679.39
|
||
|
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 2012-1 Monthly Servicing Report: Collection Period 09/01/2025 - 09/30/2025, Distribution Date 10/27/2025
|
|
VII.
|
2012-1 Distributions
|
Distribution Amounts
|
A3
|
B |
|
||||||
|
Cusip/Isin
|
78446WAC1
|
78446WAD9
|
||||||
|
Beginning Balance
|
$
|
101,708,185.32
|
$
|
23,140,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.95%
|
|
0.95%
|
|
||||
|
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
1 NEW YORK BUSINESS DAY
|
||||||
|
Accrual Period Begin
|
9/25/2025
|
9/25/2025
|
||||||
|
Accrual Period End
|
10/27/2025
|
10/27/2025
|
||||||
|
Daycount Fraction
|
0.08888889
|
0.08888889
|
||||||
|
Interest Rate*
|
5.42051%
|
|
5.42051%
|
|
||||
|
Accrued Interest Factor
|
0.004818231
|
0.004818231
|
||||||
|
Current Interest Due
|
$
|
490,053.54
|
$
|
111,493.87
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
490,053.54
|
$
|
111,493.87
|
||||
|
Interest Paid
|
$
|
490,053.54
|
$
|
111,493.87
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
845,505.93
|
-
|
|||||
|
Ending Principal Balance
|
$
|
100,862,679.39
|
$
|
23,140,000.00
|
||||
|
Paydown Factor
|
0.002440133
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.291089984
|
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 2012-1 Monthly Servicing Report: Collection Period 09/01/2025 - 09/30/2025, Distribution Date 10/27/2025
|
|
VIII.
|
2012-1 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
|
Notes Outstanding Principal Balance
|
$
|
124,848,185.32
|
||
|
|
Adjusted Pool Balance
|
$
|
125,961,237.59
|
||
|
|
Overcollateralization Amount
|
$
|
2,000,000.00
|
||
|
|
Principal Distribution Amount
|
$
|
886,947.73
|
||
|
|
Principal Distribution Amount Paid
|
$
|
845,505.93
|
||
|
B
|
Reserve Account Reconciliation
|
||||
|
|
Beginning Period Balance
|
$
|
764,728.00
|
||
|
|
Reserve Funds Utilized
|
0.00
|
|||
|
|
Reserve Funds Reinstated
|
0.00
|
|||
|
|
Balance Available
|
$
|
764,728.00
|
||
|
|
Required Reserve Acct Balance
|
$
|
764,728.00
|
||
|
|
Release to Collection Account
|
|
-
|
||
|
|
Ending Reserve Account Balance
|
$
|
764,728.00
|
||
|
C
|
Capitalized Interest Account
|
||||
|
|
Beginning Period Balance
|
-
|
|||
|
|
Transfers to Collection Account
|
-
|
|||
|
|
Ending Balance
|
-
|
|||
|
|
|||||
|
D
|
Floor Income Rebate Account
|
||||
|
|
Beginning Period Balance
|
$
|
29,423.05
|
||
|
|
Deposits for the Period
|
$
|
26,793.04
|
||
|
|
Release to Collection Account
|
|
-
|
|
|
|
|
Ending Balance
|
$
|
56,216.09
|
||
|
|
|||||
|
E
|
Supplemental Purchase Account
|
||||
|
|
Beginning Period Balance
|
-
|
|||
|
|
Supplemental Loan Purchases
|
-
|
|||
|
|
Transfers to Collection Account
|
-
|
|||
|
|
Ending Balance
|
-
|
|||
|
Page 9 of 9
|
Trust 2012-1 Monthly Servicing Report: Collection Period 09/01/2025 - 09/30/2025, Distribution Date 10/27/2025
|
SLM Student Loan Trust 2012-1 published this content on November 07, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on November 07, 2025 at 15:39 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]