SLM Student Loan Trust 2012-1
09/04/2026 | Press release | Distributed by Public on 09/04/2026 11:19
Asset-Backed Issuer Distribution Report (Form 10-D)
SLM Student Loan Trust 2012-1
Monthly Servicing Report
Distribution Date 08/25/2026
Collection Period 07/01/2026 - 07/31/2026
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 2012-1 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
01/19/2012
|
06/30/2026
|
07/31/2026
|
|||||||||
|
|
Principal Balance
|
$
|
729,487,882.66
|
$
|
114,164,253.56
|
$
|
113,059,651.96
|
||||||
|
|
Interest to be Capitalized Balance
|
17,615,101.99
|
1,691,142.58
|
1,732,405.31
|
|||||||||
|
|
Pool Balance
|
$
|
747,102,984.65
|
$
|
115,855,396.14
|
$
|
114,792,057.27
|
||||||
|
|
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
|
$
|
115,855,396.14
|
$
|
114,792,057.27
|
||||||
|
|
Weighted Average Coupon (WAC)
|
6.64%
|
|
6.87%
|
|
6.84%
|
|
||||||
|
|
Number of Loans
|
174,879
|
16,556
|
16,367
|
|||||||||
|
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
141,959.32
|
$
|
142,584.95
|
||||||||
|
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
115,713,436.82
|
$
|
114,649,472.32
|
||||||||
|
|
Pool Factor
|
0.151498759
|
0.150108279
|
||||||||||
|
|
Since Issued Constant Prepayment Rate
|
(85.35)%
|
|
(84.66)%
|
|
||||||||
| (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
|
07/27/2026
|
08/25/2026
|
||||||
|
|
A3
|
78446WAC1
|
$
|
90,743,118.83
|
$
|
89,665,338.21
|
||||
|
|
B
|
78446WAD9
|
$
|
23,140,000.00
|
$
|
23,140,000.00
|
||||
|
C
|
Account Balances
|
07/27/2026
|
08/25/2026
|
||||||
|
|
Reserve Account Balance
|
$
|
764,728.00
|
$
|
764,728.00
|
||||
|
|
Capitalized Interest Account Balance
|
-
|
-
|
||||||
|
|
Floor Income Rebate Account
|
$
|
178,831.03
|
$
|
266,415.66
|
||||
|
|
Supplemental Loan Purchase Account
|
-
|
-
|
||||||
|
D
|
Asset / Liability
|
07/27/2026
|
08/25/2026
|
||||||
|
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
115,855,396.14
|
$
|
114,792,057.27
|
||||
|
|
Total Notes
|
$
|
113,883,118.83
|
$
|
112,805,338.21
|
||||
|
|
Difference
|
$
|
1,972,277.31
|
$
|
1,986,719.06
|
||||
|
|
Parity Ratio
|
1.01732
|
1.01761
|
||||||
|
Page 2 of 9
|
Trust 2012-1 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
II.
|
Trust Activity 07/01/2026 through 07/31/2026
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
240,271.15
|
||||
|
Guarantor Principal
|
544,929.01
|
||||
|
Consolidation Activity Principal
|
637,511.56
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
|
|||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
1,422,711.72
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
150,270.28
|
||||
|
Guarantor Interest
|
27,416.16
|
||||
|
Consolidation Activity Interest
|
17,055.90
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
(29.77)
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
13,849.79
|
||||
|
Total Interest Receipts
|
$
|
208,562.36
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
|
D
|
Investment Income
|
$
|
7,359.68
|
||
|
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
|
$
|
(87,584.63)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
1,551,049.13
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(318,110.12)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
12,525.42
|
||
|
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 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
III.
|
2012-1 Portfolio Characteristics
|
|
07/31/2026
|
06/30/2026
|
||||||||||||||||||||||||||||||||
|
|
|
Wtd Avg Coupon
|
# Loans |
Principal |
% of Principal
|
Wtd Avg Coupon
|
# Loans
|
Principal
|
% of Principal
|
||||||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.80%
|
|
12
|
$
|
87,245.16
|
0.077%
|
|
6.80%
|
|
12
|
$
|
87,245.16
|
0.076%
|
|
||||||||||||||||||
|
DEFERMENT
|
6.70%
|
|
1,041
|
$
|
6,519,399.22
|
5.766%
|
|
6.77%
|
|
1,044
|
$
|
6,525,532.51
|
5.716%
|
|
|||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.84%
|
|
11,211
|
$
|
72,696,505.71
|
64.299%
|
|
6.87%
|
|
11,323
|
$
|
72,882,242.50
|
63.840%
|
|
||||||||||||||||||
|
31-60 DAYS DELINQUENT
|
6.82%
|
|
538
|
$
|
4,085,915.12
|
3.614%
|
|
6.91%
|
|
547
|
$
|
4,500,127.58
|
3.942%
|
|
|||||||||||||||||||
|
61-90 DAYS DELINQUENT
|
6.93%
|
|
332
|
$
|
2,710,289.13
|
2.397%
|
|
6.85%
|
|
347
|
$
|
2,905,873.06
|
2.545%
|
|
|||||||||||||||||||
|
91-120 DAYS DELINQUENT
|
6.81%
|
|
263
|
$
|
2,090,648.83
|
1.849%
|
|
6.92%
|
|
233
|
$
|
2,116,779.61
|
1.854%
|
|
|||||||||||||||||||
|
> 120 DAYS DELINQUENT
|
6.88%
|
|
714
|
$
|
6,423,699.26
|
5.682%
|
|
6.87%
|
|
781 |
$
|
6,812,812.82
|
5.968%
|
|
|||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||
|
|
FORBEARANCE
|
6.84%
|
|
2,098
|
$
|
17,114,367.24
|
15.137%
|
|
6.92%
|
|
2,143
|
$
|
17,419,059.82
|
15.258%
|
|
||||||||||||||||||
|
|
CLAIMS IN PROCESS
|
6.78%
|
|
158 |
$
|
1,331,582.29
|
1.178%
|
|
6.87%
|
|
126
|
$
|
914,580.50
|
0.801%
|
|
||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||
|
TOTAL
|
16,367
|
$
|
113,059,651.96
|
100.00%
|
|
16,556
|
$
|
114,164,253.56
|
100.00%
|
|
|||||||||||||||||||||||
* Percentages may not total 100% due to rounding
|
Page 4 of 9
|
Trust 2012-1 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
IV.
|
2012-1 Portfolio Characteristics (cont'd)
|
|
07/31/2026
|
06/30/2026
|
|||||||
|
Pool Balance
|
$
|
114,792,057.27
|
$
|
115,855,396.14
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
6,129,657.71
|
$
|
6,023,854.25
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
1,732,405.31
|
$
|
1,691,142.58
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
528,530.80
|
$
|
517,381.30
|
||||
|
Total # Loans
|
16,367
|
16,556
|
||||||
|
Total # Borrowers
|
6,894
|
6,983
|
||||||
|
Weighted Average Coupon
|
6.84%
|
|
6.87%
|
|
||||
|
Weighted Average Remaining Term
|
198.97
|
198.25
|
||||||
|
Non-Reimbursable Losses
|
$
|
12,525.42
|
$
|
17,357.48
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
4,831,544.92
|
$
|
4,819,019.50
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-84.66%
|
|
-85.35%
|
|
||||
|
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
|
$ |
13,280.94
|
$ |
27,722.69
|
||||
|
Note Interest Shortfall
|
-
|
-
|
||||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
328,846.31
|
$
|
401,271.47
|
||||
|
Borrower Interest Accrued
|
$
|
631,586.36
|
$
|
618,782.01
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
23,876.37
|
$
|
23,182.70
|
||||
|
Special Allowance Payments Accrued
|
$
|
18,875.95
|
$
|
17,674.91
|
||||
|
Page 5 of 9
|
Trust 2012-1 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
V.
|
2012-1 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
|
- GSL (1) - Subsidized
|
6.73%
|
|
8,762
|
44,246,433.06
|
39.135%
|
|
||||||||||
|
|
- GSL - Unsubsidized
|
6.75%
|
|
7,274
|
62,586,742.44
|
55.357%
|
|
||||||||||
|
|
- PLUS (2) Loans
|
8.46%
|
|
331
|
6,226,476.46
|
5.507%
|
|
||||||||||
|
|
- SLS (3) Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
- Consolidation Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
Total
|
6.84%
|
|
16,367 |
$
|
113,059,651.96
|
100.000%
|
|
|||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
|
- Four Year
|
6.84%
|
|
13,503
|
97,574,229.42
|
86.303%
|
|
||||||||||
|
|
- Two Year
|
6.82%
|
|
2,380
|
12,699,038.62
|
11.232%
|
|
||||||||||
|
|
- Technical
|
6.82%
|
|
482
|
2,785,040.24
|
2.463%
|
|
||||||||||
|
|
- Other
|
6.80%
|
|
2
|
1,343.68
|
0.001%
|
|
||||||||||
|
|
Total
|
6.84%
|
|
16,367
|
$
|
113,059,651.96
|
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 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
VI.
|
2012-1 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
1,551,049.13
|
|||||||
| A |
Trustee Fees |
- |
$ |
1,551,049.13
|
|||||
| B |
Primary Servicing Fee
|
$
|
37,210.78
|
$
|
1,513,838.35
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
1,507,171.35
|
||||
| D |
Class A Noteholders' Interest Distribution Amount
|
$
|
342,142.49
|
$
|
1,165,028.86
|
||||
| E |
Class B Noteholders' Interest Distribution Amount
|
$
|
87,248.24
|
$
|
1,077,780.62
|
||||
| F |
Reserve Account Reinstatement
|
|
- |
$
|
1,077,780.62
|
||||
| G |
Class A Noteholders' Principal Distribution Amount
|
$
|
1,077,780.62
|
|
- | ||||
| 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
|
$
|
113,059,651.96
|
||
|
B
|
Interest to be Capitalized
|
$
|
1,732,405.31
|
||
|
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
|
$
|
114,792,057.27
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
89,665,338.21
|
||
|
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 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
VII.
|
2012-1 Distributions
|
Distribution Amounts
|
A3
|
B |
|
||||||
|
Cusip/Isin
|
78446WAC1
|
78446WAD9
|
||||||
|
Beginning Balance
|
$
|
90,743,118.83
|
$
|
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
|
7/27/2026
|
7/27/2026
|
||||||
|
Accrual Period End
|
8/25/2026
|
8/25/2026
|
||||||
|
Daycount Fraction
|
0.08055556
|
0.08055556
|
||||||
|
Interest Rate*
|
4.68056%
|
|
4.68056%
|
|
||||
|
Accrued Interest Factor
|
0.003770451
|
0.003770451
|
||||||
|
Current Interest Due
|
$
|
342,142.49
|
$
|
87,248.24
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
342,142.49
|
$
|
87,248.24
|
||||
|
Interest Paid
|
$
|
342,142.49
|
$
|
87,248.24
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
1,077,780.62
|
-
|
|||||
|
Ending Principal Balance
|
$
|
89,665,338.21
|
$
|
23,140,000.00
|
||||
|
Paydown Factor
|
0.003110478
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.258774425
|
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 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
VIII.
|
2012-1 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
|
Notes Outstanding Principal Balance
|
$
|
113,883,118.83
|
||
|
|
Adjusted Pool Balance
|
$
|
114,792,057.27
|
||
|
|
Overcollateralization Amount
|
$
|
2,000,000.00
|
||
|
|
Principal Distribution Amount
|
$
|
1,091,061.56
|
||
|
|
Principal Distribution Amount Paid
|
$
|
1,077,780.62
|
||
|
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
|
$
|
178,831.03
|
||
|
|
Deposits for the Period
|
$
|
87,584.63
|
||
|
|
Release to Collection Account
|
|
-
|
|
|
|
|
Ending Balance
|
$
|
266,415.66
|
||
|
|
|||||
|
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 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
SLM Student Loan Trust 2012-1 published this content on September 04, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on September 04, 2026 at 17:20 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]