SLM Student Loan Trust 2012-7
10/08/2026 | Press release | Distributed by Public on 10/08/2026 08:01
Asset-Backed Issuer Distribution Report (Form 10-D)
SLM Student Loan Trust 2012-7
Monthly Servicing Report
Distribution Date 09/25/2026
Collection Period 08/01/2026 - 08/31/2026
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 2012-7 Monthly Servicing Report: Collection Period 08/01/2026 - 08/31/2026, Distribution Date 09/25/2026
|
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
11/08/2012
|
07/31/2026
|
08/31/2026
|
|||||||||
|
Principal Balance
|
$
|
1,189,615,212.08
|
$
|
215,177,487.03
|
$
|
214,316,700.38
|
|||||||
|
Interest to be Capitalized Balance
|
29,184,856.28
|
3,211,597.87
|
3,321,776.17
|
||||||||||
|
Pool Balance
|
$
|
1,218,800,068.36
|
$
|
218,389,084.90
|
$
|
217,638,476.55
|
|||||||
|
Capitalized Interest Account Balance
|
$
|
10,000,000.00
|
-
|
-
|
|||||||||
|
Specified Reserve Account Balance
|
3,121,961.00
|
- N/A -
|
- N/A -
|
||||||||||
|
Adjusted Pool (1)
|
$
|
1,231,922,029.36
|
$
|
218,389,084.90
|
$
|
217,638,476.55
|
|||||||
|
Weighted Average Coupon (WAC)
|
6.76%
|
|
6.85%
|
|
6.85%
|
|
|||||||
|
Number of Loans
|
283,078
|
30,147
|
29,930
|
||||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
329,961.68
|
$
|
329,435.57
|
|||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
218,059,123.22
|
$
|
217,309,040.98
|
|||||||||
|
Pool Factor
|
0.174881328
|
0.174280256
|
|||||||||||
|
Since Issued Constant Prepayment Rate
|
(74.00)%
|
|
(73.73)%
|
|
|||||||||
| (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
|
08/25/2026
|
09/25/2026
|
||||||
|
A3
|
78447KAC6
|
$
|
176,438,221.87
|
$
|
175,260,508.94
|
|||||
| B |
78447KAD4
|
$
|
37,500,000.00
|
$
|
37,500,000.00
|
|||||
|
C
|
Account Balances
|
08/25/2026
|
09/25/2026
|
||||||
|
Reserve Account Balance
|
|
-
|
|
-
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
567,253.24
|
$
|
181,544.39
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
|
D
|
Asset / Liability
|
08/25/2026
|
09/25/2026
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
218,389,084.90
|
$
|
217,638,476.55
|
|||||
|
Total Notes
|
$
|
213,938,221.87
|
$
|
212,760,508.94
|
|||||
|
Difference
|
$
|
4,450,863.03
|
$
|
4,877,967.61
|
|||||
|
Parity Ratio
|
1.02080
|
1.02293
|
|||||||
|
Page 2 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2026 - 08/31/2026, Distribution Date 09/25/2026
|
|
II.
|
Trust Activity 08/01/2026 through 08/31/2026
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
454,166.47
|
||||
|
Guarantor Principal
|
701,694.57
|
||||
|
Consolidation Activity Principal
|
378,748.34
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
1,534,609.38
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
259,389.58
|
||||
|
Guarantor Interest
|
27,041.88
|
||||
|
Consolidation Activity Interest
|
18,689.24
|
||||
|
Special Allowance Payments
|
101,370.24
|
||||
|
Interest Subsidy Payments
|
142,350.69
|
||||
|
Seller Interest Reimbursement
|
(411.96)
|
||||
|
Servicer Interest Reimbursement
|
0.00
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
11,651.08
|
||||
|
Total Interest Receipts
|
$
|
560,080.75
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
| D |
Investment Income
|
$
|
11,237.54
|
||
|
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
|
$ |
567,253.24
|
||
|
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
|
$ |
(567,344.83)
|
|
||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(181,544.39)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
1,924,291.69
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(673,822.73)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
17,910.58
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
-
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2026 - 08/31/2026, Distribution Date 09/25/2026
|
|
III.
|
2012-7 Portfolio Characteristics
|
|
08/31/2026
|
07/31/2026
|
||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.65%
|
|
50
|
$
|
230,169.42
|
0.107%
|
|
6.65%
|
|
50
|
$
|
230,169.42
|
0.107%
|
|
||||||||||||
|
|
GRACE
|
6.80%
|
|
9
|
$
|
62,707.00
|
0.029%
|
|
6.80%
|
|
9
|
$
|
62,707.00
|
0.029%
|
|
||||||||||||
|
|
DEFERMENT
|
6.73%
|
|
1,764
|
$
|
12,129,539.60
|
5.660%
|
|
6.73%
|
|
1,814
|
$
|
12,351,430.82
|
5.740%
|
|
||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.85%
|
|
20,196
|
$
|
134,519,695.71
|
62.767%
|
|
6.85%
|
|
20,432
|
$
|
135,722,658.51
|
63.075%
|
|
||||||||||||
|
|
31-60 DAYS DELINQUENT
|
6.86%
|
|
1,000
|
$
|
8,254,309.30
|
3.851%
|
|
6.85%
|
|
974
|
$
|
8,097,694.45
|
3.763%
|
|
||||||||||||
|
|
61-90 DAYS DELINQUENT
|
6.83%
|
|
696
|
$
|
6,042,836.92
|
2.820%
|
|
6.94%
|
|
727
|
$
|
6,756,300.51
|
3.140%
|
|
||||||||||||
|
|
91-120 DAYS DELINQUENT
|
6.98%
|
|
469
|
$
|
4,697,310.32
|
2.192%
|
|
6.77%
|
|
419
|
$
|
3,448,301.89
|
1.603%
|
|
||||||||||||
|
|
> 120 DAYS DELINQUENT
|
6.90%
|
|
1,374
|
$
|
11,849,366.57
|
5.529%
|
|
6.92%
|
|
1,448
|
$
|
12,475,736.98
|
5.798%
|
|
||||||||||||
|
|
FORBEARANCE
|
6.87%
|
|
4,082
|
$
|
33,872,989.55
|
15.805%
|
|
6.88%
|
|
4,018
|
$
|
33,743,882.71
|
15.682%
|
|
||||||||||||
|
|
CLAIMS IN PROCESS
|
6.93%
|
|
290
|
$
|
2,657,775.99
|
1.240%
|
|
6.93%
|
|
256
|
$
|
2,288,604.74
|
1.064%
|
|
||||||||||||
|
TOTAL
|
29,930
|
$
|
214,316,700.38
|
100.00%
|
|
30,147
|
$
|
215,177,487.03
|
100.00%
|
|
|||||||||||||||||
|
*
|
Percentages may not total 100% due to rounding
|
|
Page 4 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2026 - 08/31/2026, Distribution Date 09/25/2026
|
|
IV.
|
2012-7 Portfolio Characteristics (cont'd)
|
|
08/31/2026
|
07/31/2026
|
|||||||
|
Pool Balance
|
$
|
217,638,476.55
|
$
|
218,389,084.90
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
12,449,884.96
|
$
|
12,253,019.35
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
3,321,776.17
|
$
|
3,211,597.87
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,153,758.17
|
$
|
1,174,184.23
|
||||
|
Total # Loans
|
29,930
|
30,147
|
||||||
|
Total # Borrowers
|
13,411
|
13,515
|
||||||
|
Weighted Average Coupon
|
6.85%
|
|
6.85%
|
|
||||
|
Weighted Average Remaining Term
|
206.38
|
205.65
|
||||||
|
Non-Reimbursable Losses
|
$
|
17,910.58
|
$
|
30,072.56
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
7,831,481.97
|
$
|
7,813,571.39
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-73.73%
|
|
-74.00%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
|
-
|
-
|
|||||
|
Cumulative Rejected Claim Repurchases
|
$
|
364,278.81
|
$
|
364,278.81
|
||||
|
Unpaid Primary Servicing Fees
|
-
|
-
|
||||||
|
Unpaid Administration Fees
|
-
|
-
|
||||||
|
Unpaid Carryover Servicing Fees
|
-
|
-
|
||||||
|
Note Principal Shortfall
|
$
|
175,260,508.94
|
$ |
176,438,221.87
|
||||
|
Note Interest Shortfall
|
$ |
880,073.99
|
$ |
697,270.58
|
||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
691,618.89
|
$
|
703,709.72
|
||||
|
Borrower Interest Accrued
|
$
|
1,194,226.86
|
$
|
1,202,223.69
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
46,209.57
|
$
|
47,069.10
|
||||
|
Special Allowance Payments Accrued
|
$
|
39,287.58
|
$
|
38,357.00
|
||||
|
Page 5 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2026 - 08/31/2026, Distribution Date 09/25/2026
|
|
V.
|
2012-7 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|||||||||||
|
- GSL (1) - Subsidized
|
6.73%
|
15,825
|
81,279,333.19
|
37.925%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.75%
|
13,475
|
119,625,587.21
|
55.817%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.46%
|
629
|
13,402,454.03
|
6.254%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.09%
|
1
|
9,325.95
|
0.004%
|
|
|||||||||||
|
- Consolidation Loans
|
0.00%
|
0
|
-
|
0.000%
|
|
|||||||||||
|
Total
|
6.85%
|
29,930
|
$
|
214,316,700.38
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|||||||||||
|
- Four Year
|
6.86%
|
25,177
|
188,173,078.34
|
87.801%
|
|
|||||||||||
|
- Two Year
|
6.80%
|
3,844
|
21,208,573.15
|
9.896%
|
|
|||||||||||
|
- Technical
|
6.73%
|
887
|
4,765,824.03
|
2.224%
|
|
|||||||||||
|
- Other
|
6.76%
|
22
|
169,224.86
|
0.079%
|
|
|||||||||||
|
Total
|
6.85%
|
29,930
|
$
|
214,316,700.38
|
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 2012-7 Monthly Servicing Report: Collection Period 08/01/2026 - 08/31/2026, Distribution Date 09/25/2026
|
|
VI.
|
2012-7 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
|||||||
|
Total Available Funds
|
$
|
1,924,291.69
|
||||||
|
A
|
Trustee Fees |
|
-
|
$
|
1,924,291.69
|
|||
|
B
|
Primary Servicing Fee
|
$
|
70,241.62
|
$
|
1,854,050.07
|
|||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
1,847,383.07
|
|||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
669,670.14
|
$
|
1,177,712.93
|
|||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
-
|
$
|
1,177,712.93
|
||||
|
F
|
Reserve Account Reinstatement
|
|
-
|
$ |
1,177,712.93
|
|||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$ |
1,177,712.93
|
|
-
|
|||
|
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
|
$
|
214,316,700.38
|
||
|
B
|
Interest to be Capitalized
|
$
|
3,321,776.17
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
|
-
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(1,248,784.00)
|
|
|
|
F
|
Total
|
$
|
216,389,692.55
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
175,260,508.94
|
||
|
H
|
Insolvency Event or Event of Default Under Indenture
|
Y |
|
||
|
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)
|
Y |
|
||
|
Page 7 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2026 - 08/31/2026, Distribution Date 09/25/2026
|
|
VII.
|
2012-7 Distributions
|
Distribution Amounts
|
A3
|
B |
|
||||||
|
Cusip/Isin
|
78447KAC6
|
78447KAD4
|
||||||
|
Beginning Balance
|
$
|
176,438,221.87
|
$
|
37,500,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.65%
|
|
1.80%
|
|
||||
|
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
1 NEW YORK BUSINESS DAY
|
||||||
|
Accrual Period Begin
|
8/25/2026
|
8/25/2026
|
||||||
|
Accrual Period End
|
9/25/2026
|
9/25/2026
|
||||||
|
Daycount Fraction
|
0.08611111
|
0.08611111
|
||||||
|
Interest Rate*
|
4.40767%
|
|
5.55767%
|
|
||||
|
Accrued Interest Factor
|
0.003795494
|
0.000000000
|
||||||
|
Current Interest Due
|
$
|
669,670.14
|
$
|
880,073.99
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
$ |
700,607.56
|
|||||
|
Total Interest Due
|
$
|
669,670.14
|
$
|
880,073.99
|
||||
|
Interest Paid
|
$
|
669,670.14
|
|
-
|
||||
|
Interest Shortfall
|
-
|
$ |
880,073.99
|
|||||
|
Principal Paid
|
$
|
1,177,712.93
|
-
|
|||||
|
Ending Principal Balance
|
$
|
175,260,508.94
|
$
|
37,500,000.00
|
||||
|
Paydown Factor
|
0.002048196
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.304800885
|
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 2012-7 Monthly Servicing Report: Collection Period 08/01/2026 - 08/31/2026, Distribution Date 09/25/2026
|
|
VIII.
|
2012-7 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
213,938,221.87
|
|||
|
Adjusted Pool Balance
|
$
|
217,638,476.55
|
|||
|
Overcollateralization Amount
|
$
|
2,176,384.77
|
|||
|
Principal Distribution Amount
|
$
|
176,438,221.87
|
|||
|
Principal Distribution Amount Paid
|
$
|
1,177,712.93
|
|||
| B |
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
|
-
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
|
-
|
|||
|
Required Reserve Acct Balance
|
$
|
1,248,784.00
|
|||
|
Release to Collection Account
|
|
-
|
|||
|
Ending Reserve Account Balance
|
|
-
|
|||
| C |
Capitalized Interest Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
| D |
Floor Income Rebate Account
|
||||
|
Beginning Period Balance
|
$
|
567,253.24
|
|||
|
Deposits for the Period
|
$
|
181,544.39
|
|||
|
Release to Collection Account
|
$ |
(567,253.24)
|
|
||
|
Ending Balance
|
$
|
181,544.39
|
|||
| E |
Supplemental Purchase Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Supplemental Loan Purchases
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
Page 9 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2026 - 08/31/2026, Distribution Date 09/25/2026
|
SLM Student Loan Trust 2012-7 published this content on October 08, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on October 08, 2026 at 14:02 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]