SLM Student Loan Trust 2012-7
07/08/2026 | Press release | Distributed by Public on 07/08/2026 09:24
Asset-Backed Issuer Distribution Report (Form 10-D)
SLM Student Loan Trust 2012-7
Monthly Servicing Report
Distribution Date 06/25/2026
Collection Period 05/01/2026 - 05/31/2026
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 05/01/2026 - 05/31/2026, Distribution Date 06/25/2026 |
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
11/08/2012
|
04/30/2026
|
05/31/2026
|
||||||||
|
Principal Balance
|
$
|
1,189,615,212.08
|
$
|
220,978,699.04
|
$
|
219,426,594.91
|
||||||
|
Interest to be Capitalized Balance
|
29,184,856.28
|
3,312,718.74
|
3,303,822.45
|
|||||||||
|
Pool Balance
|
$
|
1,218,800,068.36
|
$
|
224,291,417.78
|
$
|
222,730,417.36
|
||||||
|
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
|
$
|
224,291,417.78
|
$
|
222,730,417.36
|
||||||
|
Weighted Average Coupon (WAC)
|
6.76%
|
|
6.88%
|
|
6.88%
|
|
||||||
|
Number of Loans
|
283,078
|
31,171
|
30,865
|
|||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
333,217.61
|
$
|
333,101.29
|
||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
223,958,200.17
|
$
|
222,397,316.07
|
||||||||
|
Pool Factor
|
0.179607790
|
0.178357774
|
||||||||||
|
Since Issued Constant Prepayment Rate
|
(74.98)%
|
|
(74.67)%
|
|
||||||||
| (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
|
05/26/2026
|
06/25/2026
|
||||||
|
A3
|
78447KAC6
|
$
|
183,026,970.06
|
$
|
181,022,332.14
|
|||||
| B |
78447KAD4
|
$
|
37,500,000.00
|
$
|
37,500,000.00
|
|||||
|
C
|
Account Balances
|
05/26/2026
|
06/25/2026
|
||||||
|
Reserve Account Balance
|
|
-
|
|
-
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
547,521.40
|
$
|
192,315.61
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
|
D
|
Asset / Liability
|
05/26/2026
|
06/25/2026
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
224,291,417.78
|
$
|
222,730,417.36
|
|||||
|
Total Notes
|
$
|
220,526,970.06
|
$
|
218,522,332.14
|
|||||
|
Difference
|
$
|
3,764,447.72
|
$
|
4,208,085.22
|
|||||
|
Parity Ratio
|
1.01707
|
1.01926
|
|||||||
|
Page 2 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 05/01/2026 - 05/31/2026, Distribution Date 06/25/2026 |
|
II.
|
Trust Activity 05/01/2026 through 05/31/2026
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
452,312.34
|
||||
|
Guarantor Principal
|
1,039,923.30
|
||||
|
Consolidation Activity Principal
|
817,052.99
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
569.57
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
11,217.45
|
||||
|
Total Principal Receipts
|
$
|
2,321,075.65
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
262,988.32
|
||||
|
Guarantor Interest
|
52,513.22
|
||||
|
Consolidation Activity Interest
|
34,519.54
|
||||
|
Special Allowance Payments
|
98,491.69
|
||||
|
Interest Subsidy Payments
|
145,309.21
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
2.13
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
17,103.99
|
||||
|
Total Interest Receipts
|
$
|
610,928.10
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
| D |
Investment Income
|
$
|
13,866.30
|
||
|
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
|
$ |
547,521.40
|
||
|
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
|
$ |
(549,516.45)
|
|
||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(192,315.61)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
2,751,559.39
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(768,971.52)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
28,551.75
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
$
|
11,649.21
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 05/01/2026 - 05/31/2026, Distribution Date 06/25/2026 |
|
III.
|
2012-7 Portfolio Characteristics
|
|
05/31/2026
|
04/30/2026
|
||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.73%
|
|
44
|
$
|
220,976.42
|
0.101%
|
|
6.74%
|
|
49
|
$
|
250,851.42
|
0.114%
|
|
||||||||||||
|
|
GRACE
|
6.77%
|
|
17
|
$
|
81,400.00
|
0.037%
|
|
6.75%
|
|
12
|
$
|
51,525.00
|
0.023%
|
|
||||||||||||
|
|
DEFERMENT
|
6.76%
|
|
1,800
|
$
|
12,103,370.13
|
5.516%
|
|
6.76%
|
|
1,975
|
$
|
13,094,234.87
|
5.926%
|
|
||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.89%
|
|
20,872
|
$
|
138,967,823.18
|
63.332%
|
|
6.88%
|
|
20,932
|
$
|
137,214,345.70
|
62.094%
|
|
||||||||||||
|
|
31-60 DAYS DELINQUENT
|
6.82%
|
|
1,038
|
$
|
8,012,635.84
|
3.652%
|
|
6.96%
|
|
977
|
$
|
8,248,417.98
|
3.733%
|
|
||||||||||||
|
|
61-90 DAYS DELINQUENT
|
6.94%
|
|
648
|
$
|
5,655,256.47
|
2.577%
|
|
6.92%
|
|
666
|
$
|
5,709,501.79
|
2.584%
|
|
||||||||||||
|
|
91-120 DAYS DELINQUENT
|
6.92%
|
|
497
|
$
|
4,082,325.67
|
1.860%
|
|
6.86%
|
|
423
|
$
|
3,634,792.17
|
1.645%
|
|
||||||||||||
|
|
> 120 DAYS DELINQUENT
|
6.93%
|
|
1,518
|
$
|
13,150,304.81
|
5.993%
|
|
6.92%
|
|
1,485
|
$
|
12,755,973.77
|
5.772%
|
|
||||||||||||
|
|
FORBEARANCE
|
6.90%
|
|
4,121
|
$
|
34,304,274.76
|
15.634%
|
|
6.90%
|
|
4,371
|
$
|
37,220,591.80
|
16.844%
|
|
||||||||||||
|
|
CLAIMS IN PROCESS
|
6.87%
|
|
310
|
$
|
2,848,227.63
|
1.298%
|
|
7.02%
|
|
281
|
$
|
2,798,464.54
|
1.266%
|
|
||||||||||||
|
TOTAL
|
30,865
|
$
|
219,426,594.91 |
100.00% |
|
31,171 |
$
|
220,978,699.04 |
100.00% |
|
|||||||||||||||||
|
*
|
Percentages may not total 100% due to rounding
|
|
Page 4 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 05/01/2026 - 05/31/2026, Distribution Date 06/25/2026 |
|
IV.
|
2012-7 Portfolio Characteristics (cont'd)
|
|
5/31/2026 |
4/30/2026 |
|||||||
|
Pool Balance
|
$
|
222,730,417.36
|
$
|
224,291,417.78
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
12,088,095.74
|
$
|
12,005,693.66
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
3,303,822.45
|
$
|
3,312,718.74
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,191,626.65
|
$
|
1,154,370.57
|
||||
|
Total # Loans
|
30,865
|
31,171
|
||||||
|
Total # Borrowers
|
13,846
|
13,994
|
||||||
|
Weighted Average Coupon
|
6.88%
|
6.88% | ||||||
|
Weighted Average Remaining Term
|
204.44
|
|
203.74
|
|
||||
|
Non-Reimbursable Losses
|
$
|
28,551.75
|
$
|
29,344.66
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
7,746,556.47
|
$
|
7,718,004.72
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-74.67% |
|
-74.98% |
|
||||
|
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
|
$ |
181,022,332.14
|
$ |
183,026,970.06
|
||||
|
Note Interest Shortfall
|
$ |
341,426.57
|
$ |
167,947.46
|
||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
797,521.00
|
$
|
800,639.18
|
||||
|
Borrower Interest Accrued
|
$
|
1,229,463.79
|
$
|
1,196,819.10
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
47,480.84
|
$
|
48,917.65
|
||||
|
Special Allowance Payments Accrued
|
$
|
36,388.17
|
$
|
35,162.66
|
||||
|
Page 5 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 05/01/2026 - 05/31/2026, Distribution Date 06/25/2026 |
|
V.
|
2012-7 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|||||||||||
|
- GSL (1) - Subsidized
|
6.77% |
16,315 |
83,156,825.85 |
37.897% |
|
|||||||||||
|
- GSL - Unsubsidized
|
6.78%
|
13,896
|
122,466,193.46
|
55.812%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.48%
|
653 |
13,794,374.63
|
6.287%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.19%
|
1
|
9,200.97
|
0.004%
|
|
|||||||||||
|
- Consolidation Loans
|
0.00%
|
0 |
-
|
0.000%
|
|
|||||||||||
|
Total
|
6.88% |
30,865 |
$
|
219,426,594.91 |
100.000% |
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|||||||||||
|
- Four Year
|
6.89% |
25,949 |
192,667,204.48 |
87.805% |
|
|||||||||||
|
- Two Year
|
6.82%
|
3,925
|
21,370,551.59
|
9.739%
|
|
|||||||||||
|
- Technical
|
6.81%
|
969
|
5,221,022.60
|
2.379%
|
|
|||||||||||
|
- Other
|
6.79%
|
22
|
167,816.24
|
0.076%
|
|
|||||||||||
|
Total
|
6.88% |
30,865 |
$
|
219,426,594.91 | 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 05/01/2026 - 05/31/2026, Distribution Date 06/25/2026 |
|
VI.
|
2012-7 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
|||||||
|
Total Available Funds
|
$
|
2,751,559.39 |
||||||
|
A |
Trustee Fees |
- |
$ |
2,751,559.39 | ||||
|
B |
Primary Servicing Fee
|
$
|
72,727.66 |
$
|
2,678,831.73 |
|||
|
C |
Administration Fee
|
$
|
6,667.00 |
$
|
2,672,164.73 | |||
|
D |
Class A Noteholders' Interest Distribution Amount
|
$
|
667,526.81 |
$
|
2,004,637.92 |
|||
|
E |
Class B Noteholders' Interest Distribution Amount
|
|
- |
$
|
2,004,637.92 | |||
|
F |
Reserve Account Reinstatement
|
- |
$
|
2,004,637.92 | ||||
|
G |
Class A Noteholders' Principal Distribution Amount
|
$
|
2,004,637.92 |
|
- |
|||
|
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
|
$
|
219,426,594.91 |
||
| B |
Interest to be Capitalized
|
$
|
3,303,822.45
|
||
| C |
Capitalized Interest Account Balance
|
-
|
|||
| D |
Reserve Account Balance (after any reinstatement)
|
|
-
|
||
| E |
Less: Specified Reserve Account Balance
|
$
|
(1,248,784.00)
|
|
|
| F |
Total
|
$
|
221,481,633.36
|
||
| G |
Class A Notes Outstanding (after application of available funds)
|
$
|
181,022,332.14
|
||
| 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 05/01/2026 - 05/31/2026, Distribution Date 06/25/2026 |
|
VII.
|
2012-7 Distributions
|
Distribution Amounts
|
A3 |
B |
|
||||||
|
Cusip/Isin
|
78447KAC6 |
78447KAD4 |
||||||
|
Beginning Balance
|
$
|
183,026,970.06
|
$
|
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
|
5/26/2026
|
5/26/2026
|
||||||
|
Accrual Period End
|
6/25/2026
|
6/25/2026
|
||||||
|
Daycount Fraction
|
0.08333333
|
0.08333333
|
||||||
|
Interest Rate*
|
4.37658% |
|
5.52658% |
|
||||
|
Accrued Interest Factor
|
0.003647150
|
0.000000000
|
||||||
|
Current Interest Due
|
$
|
667,526.81
|
$
|
341,426.57
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
$ |
168,720.94
|
|||||
|
Total Interest Due
|
$
|
667,526.81
|
$
|
341,426.57
|
||||
|
Interest Paid
|
$
|
667,526.81
|
|
-
|
||||
|
Interest Shortfall
|
-
|
$ |
341,426.57
|
|||||
|
Principal Paid
|
$
|
2,004,637.92
|
-
|
|||||
|
Ending Principal Balance
|
$
|
181,022,332.14
|
$
|
37,500,000.00
|
||||
|
Paydown Factor
|
0.003486327 |
0.000000000
|
||||||
|
Ending Balance Factor
|
0.314821447
|
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 05/01/2026 - 05/31/2026, Distribution Date 06/25/2026 |
|
VIII.
|
2012-7 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
220,526,970.06 |
|||
|
Adjusted Pool Balance
|
$
|
222,730,417.36
|
|||
|
Overcollateralization Amount
|
$
|
2,227,304.17
|
|||
|
Principal Distribution Amount
|
$
|
183,026,970.06
|
|||
|
Principal Distribution Amount Paid
|
$
|
2,004,637.92
|
|||
| 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
|
$
|
547,521.40 |
|||
|
Deposits for the Period
|
$
|
192,315.61
|
|||
|
Release to Collection Account
|
$ |
(547,521.40)
|
|
||
|
Ending Balance
|
$
|
192,315.61
|
|||
| 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 05/01/2026 - 05/31/2026, Distribution Date 06/25/202 |
SLM Student Loan Trust 2012-7 published this content on July 08, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on July 08, 2026 at 15:24 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]