SLM Student Loan Trust 2003-1

06/03/2026 | Press release | Distributed by Public on 06/03/2026 14:46

Material Event (Form 8-K)

Exhibit 99.1
ANNEX A

The Trust Student Loan Pool as of April 30, 2026

The trust student loans owned by the trust were originally selected from a portfolio of consolidation student loans owned by Student Loan Marketing Association by employing several criteria, including requirements that each trust student loan as of the original cutoff date:

•
was guaranteed as to principal and interest by a guaranty agency under a guarantee agreement and the guaranty agency was, in turn, reinsured by the Department of Education in accordance with the FFELP;

•
contained terms in accordance with those required by the FFELP, the guarantee agreements and other applicable requirements;

•
was more than 120 days past the final disbursement;

•
was not more than 210 days past due;

•
did not have a borrower who was noted in the related records of the servicer as being currently involved in a bankruptcy proceeding; and

•
had special allowance payments, if any, based on the three-month commercial paper rate or the 91-day Treasury bill rate.
No trust student loan as of the original cutoff date was subject to the depositor's or the Student Loan Marketing Association's prior obligation to sell that loan to a third party. The Student Loan Marketing Association was dissolved on December 31, 2004 and all of its obligations were assumed by its affiliate, Navient Credit Finance Corporation.
Unless otherwise specified, all information with respect to the trust student loans is presented as of April 30, 2026, which is the statistical disclosure date.
The following tables provide a description of specified characteristics of the trust student loans as of the statistical disclosure date. The aggregate outstanding principal balance of the loans in each of the following tables includes the principal balance due from borrowers, plus accrued interest of $1,338,671 to be capitalized as of the statistical disclosure date. Percentages and dollar amounts in any table may not total 100% or whole dollars due to rounding. The following tables also contain information concerning the total number of loans and total number of borrowers in the portfolio of trust student loans. For ease of administration, the servicer separates a consolidation loan on its system into two separate loan segments representing subsidized and unsubsidized segments of the same loan. The following tables reflect those loan segments within the number of loans. In addition, 1 borrowers has more than one trust student loan.

2003-1
The distribution by weighted average interest rate applicable to the trust student loans on any date following the statistical disclosure date may vary significantly from that in the following tables as a result of variations in the effective rates of interest applicable to the trust student loans and in rates of principal reduction. Moreover, the information below about the weighted average remaining term to maturity of the trust student loans as of the statistical disclosure date may vary significantly from the actual term to maturity of any of the trust student loans as a result of prepayments or the granting of deferment and forbearance periods.
The following tables also contain information concerning the total number of loans and the total number of borrowers in the portfolio of trust student loans.
Percentages and dollar amounts in any table may not total 100% of the trust student loan balance, as applicable, due to rounding.
COMPOSITION OF THE TRUST STUDENT LOANS AS OF
THE STATISTICAL DISCLOSURE DATE
Aggregate Outstanding Principal Balance
$
168,937,875
Aggregate Outstanding Principal Balance - Treasury Bill
$
23,956,135
Percentage of Aggregate Outstanding Principal Balance - Treasury Bill
14.61
%
Aggregate Outstanding Principal Balance - 30-day Average SOFR
$
139,981,739
Percentage of Aggregate Outstanding Principal Balance - 30-day Average SOFR
85.39
%
Number of Borrowers
2,840
Average Outstanding Principal Balance Per Borrower
$
57,725
Number of Loans
4,965
Average Outstanding Principal Balance Per Loan - Treasury Bill
$
60,802
Average Outstanding Principal Balance Per Loan - One-Mo
$
30,624
Weighted Average Remaining Term to Scheduled Maturity
221 months
Weighted Average Annual Interest Rate
7.41
%
We determined the weighted average remaining term to maturity shown in the table from the statistical disclosure date to the stated maturity date of the applicable trust student loan without giving effect to any deferment or forbearance periods that may be granted in the future. See Appendix A to the preliminary remarketing memorandum.
The weighted average annual borrower interest rate shown in the table is exclusive of special allowance payments. The weighted average spread for special allowance payments to the 91-day Treasury bill rate was 3.10% as of the statistical disclosure date.
The weighted average spread for special allowance payments to the 30-day Average SOFR Rate was 2.64% as of the statistical disclosure date. See "Special Allowance Payments" in Appendix A to the preliminary remarketing memorandum.
For these purposes, the 91-day Treasury bill rate is the weighted average per annum discount rate, expressed on a bond equivalent basis and applied on a daily basis, for direct obligations of the United States with a maturity of thirteen weeks, as reported by the United States Department of the Treasury.
2003-1
DISTRIBUTION OF THE TRUST STUDENT LOANS
BY BORROWER INTEREST RATES AS OF THE STATISTICAL
DISCLOSURE DATE
Interest Rates
Number
of Loans
Aggregate
Outstanding
Principal
Balance
Percent of Pool
by Outstanding
Principal
Balance
Less than or equal to 3.00%
0
$
0
0.0
%
3.01% to 3.50%
0
0
0.0
3.51% to 4.00%
0
0
0.0
4.01% to 4.50%
0
0
0.0
4.51% to 5.00%
2
550
*
5.01% to 5.50%
74
847,013
0.5
5.51% to 6.00%
461
10,353,789
6.3
6.01% to 6.50%
969
21,540,815
13.1
6.51% to 7.00%
1,457
38,128,332
23.3
7.01% to 7.50%
294
10,167,487
6.2
7.51% to 8.00%
670
29,168,477
17.8
8.01% to 8.50%
924
44,133,141
26.9
Equal to or greater than 8.51%
114
9,598,270
5.9
Total
4,965
$
163,937,875
100.0
%
*
Represents a percentage greater than 0% but less than 0.05%.

We determined the interest rates shown in the table above using the interest rates applicable to the trust student loans as of the statistical disclosure date. Because trust student loans with different interest rates are likely to be repaid at different rates, this information is not likely to remain applicable to the trust student loans after the statistical disclosure date. See Appendix A to the preliminary remarketing memorandum and "The Student Loan Pools - Sallie Mae's Student Loan Financing Business" in the original prospectus.

2003-1
DISTRIBUTION OF THE TRUST STUDENT LOANS BY
OUTSTANDING PRINCIPAL BALANCE PER BORROWER
AS OF THE STATISTICAL DISCLOSURE DATE
Range of Outstanding
Principal Balance
Number of Borrowers
Aggregate
Outstanding
Principal Balance
Percent of Pool
by Outstanding
Principal Balance
Less than $5,000.00
345
$
841,636
0.5
%
$5,000.00-$ 9,999.99
234
1,737,274
1.1
$10,000.00-$14,999.99
183
2,272,949
1.4
$15,000.00-$19,999.99
193
3,399,366
2.1
$20,000.00-$24,999.99
202
4,544,556
2.8
$25,000.00-$29,999.99
185
5,061,807
3.1
$30,000.00-$34,999.99
162
5,300,931
3.2
$35,000.00-$39,999.99
133
4,980,155
3.0
$40,000.00-$44,999.99
97
4,100,885
2.5
$45,000.00-$49,999.99
95
4,511,101
2.8
$50,000.00-$54,999.99
96
5,048,540
3.1
$55,000.00-$59,999.99
67
3,848,739
2.3
$60,000.00-$64,999.99
65
4,063,462
2.5
$65,000.00-$69,999.99
84
5,669,389
3.5
$70,000.00-$74,999.99
61
4,422,451
2.7
$75,000.00-$79,999.99
42
3,251,425
2.0
$80,000.00-$84,999.99
60
4,938,525
3.0
$85,000.00-$89,999.99
36
3,145,601
1.9
$90,000.00-$94,999.99
31
2,874,486
1.8
$95,000.00-$99,999.99
40
3,906,981
2.4
$100,000.00 and above
429
86,017,615
52.5
Total
2,840
$
163,937,875
100.0
%
2003-1
DISTRIBUTION OF THE TRUST STUDENT LOANS
BY DELINQUENCY STATUS AS OF THE
STATISTICAL DISCLOSURE DATE
Number of Days Delinquent
Number
of Loans
Aggregate
Outstanding
Principal Balance
Percent of Pool
by Outstanding
Principal Balance
0-30 days
4,553
$
144,707,243
88.3
%
31-60 days
116
3,312,867
2.0
61-90 days
83
6,576,837
4.0
91-120 days
43
1,936,579
1.2
121-150 days
19
495,754
0.3
151-180 days
37
1,631,977
1.0
181-210 days
24
765,738
0.5
Greater than 210 days
90
4,510,879
2.8
Total
4,965
$
163,937,875
100.0
%
2003-1
DISTRIBUTION OF THE TRUST STUDENT LOANS
BY REMAINING TERM TO SCHEDULED MATURITY
AS OF THE STATISTICAL DISCLOSURE DATE
Number of Months
Remaining to
Scheduled Maturity
Number
of Loans
Aggregate
Outstanding
Principal Balance
Percent of Pool
by Outstanding
Principal Balance
0 to 3
35
$
14,082
*
4 to 12
215
316,959
0.2
%
13 to 24
270
832,903
0.5
25 to 36
247
1,323,168
0.8
37 to 48
217
2,230,805
1.4
49 to 60
264
3,195,313
1.9
61 to 72
375
4,664,520
2.8
73 to 84
340
5,216,649
3.2
85 to 96
227
4,431,319
2.7
97 to 108
155
3,759,047
2.3
109 to 120
196
4,918,179
3.0
121 to 132
230
6,733,704
4.1
133 to 144
217
8,123,255
5.0
145 to 156
137
5,276,374
3.2
157 to 168
131
5,494,770
3.4
169 to 180
109
4,102,678
2.5
181 to 192
97
4,272,883
2.6
193 to 204
83
3,227,876
2.0
205 to 216
86
3,858,520
2.4
217 to 228
63
2,528,948
1.5
229 to 240
82
3,602,892
2.2
241 to 252
65
3,917,812
2.4
253 to 264
52
2,219,699
1.4
265 to 276
60
3,624,812
2.2
277 to 288
55
3,444,230
2.1
289 to 300
192
17,893,310
10.9
301 to 312
721
49,917,552
30.4
313 to 324
10
1,200,238
0.7
325 to 336
6
958,517
0.6
337 to 348
2
140,238
0.1
349 to 360
3
641,889
0.4
361 and above
23
1,854,736
1.1
Total
4,965
$
163,937,875
100.0
%
*
Represents a percentage greater than 0% but less than 0.05%.

We have determined the number of months remaining to scheduled maturity shown in the table from the statistical disclosure date to the stated maturity date of the applicable trust student loan without giving effect to any deferment or forbearance periods that may be granted in the future. See Appendix A to the preliminary remarketing memorandum and "The Student Loan Pools - Sallie Mae's Student Loan Financing Business" in the original prospectus.

2003-1
DISTRIBUTION OF THE TRUST STUDENT LOANS
BY CURRENT BORROWER PAYMENT STATUS
AS OF THE STATISTICAL DISCLOSURE DATE
Current Borrower Payment
Status
Number
of Loans
Aggregate
Outstanding
Principal Balance
Percent of Pool
by Outstanding
Principal Balance
Deferment
81
$
3,991,114
2.4
%
Forbearance
364
19,712,392
12.0
Repayment
First year in repayment
34
2,229,324
1.4
Second year in repayment
33
2,839,698
1.7
Third year in repayment
43
3,860,937
2.4
More than 3 years in repayment
4,410
131,304,409
80.1
Total
4,965
$
163,937,875
100.0
%
Current borrower payment status refers to the status of the borrower of each trust student loan as of the statistical disclosure date. The borrower:

•
may have temporarily ceased repaying the loan through a deferment or a forbearance period; or

•
may be currently required to repay the loan - repayment.
See Appendix A to the preliminary remarketing memorandum and "The Student Loan Pools - Sallie Mae's Student Loan Financing Business" in the original prospectus.
The weighted average number of months in repayment for all trust student loans currently in repayment is approximately 157.3 calculated as the term to maturity at the commencement of repayment less the number of months remaining to scheduled maturity as of the statistical disclosure date.

2003-1
SCHEDULED WEIGHTED AVERAGE REMAINING MONTHS IN
STATUS OF THE TRUST STUDENT LOANS BY
CURRENT BORROWER PAYMENT STATUS AS OF THE
STATISTICAL DISCLOSURE DATE

Scheduled Months in Status Remaining
Current Borrower Payment Status
Deferment
Forbearance
Repayment
Deferment
21.7
-
236.9
Forbearance
-
11.4
246.4
Repayment
-
-
215.1

We have determined the scheduled weighted average remaining months in status shown in the previous table without giving effect to any deferment or forbearance periods that may be granted in the future. Of the $3,991,114 aggregate outstanding principal balance of the trust student loans in deferment as of the statistical disclosure date, $2,558,836 or approximately 64.1% of such loans are to borrowers who had not graduated as of that date. We expect that a significant portion of these loans could qualify for additional deferments or forbearances at the end of their current deferment periods as the related borrowers continue their education beyond their current degree programs. As a result, the overall duration of any applicable deferment and forbearance periods as well as the likelihood of future deferment and forbearance periods within this pool of trust student loans is likely to be higher than in other pools of student loans without similar numbers of in-school consolidation loans. See Appendix A to the original prospectus.

2003-1
GEOGRAPHIC DISTRIBUTION OF THE TRUST STUDENT LOANS
AS OF THE STATISTICAL DISCLOSURE DATE
State
Number
of Loans
Aggregate
Outstanding
Principal Balance
Percent of Pool
by Outstanding
Principal Balance
Alabama
73
$
2,152,100
1.3
%
Alaska
7
251,692
0.2
Arizona
101
3,627,246
2.2
Arkansas
87
1,999,907
1.2
California
579
21,108,611
12.9
Colorado
96
2,541,814
1.6
Connecticut
43
968,086
0.6
Delaware
15
425,640
0.3
District of Columbia
15
406,295
0.2
Florida
318
11,720,896
7.1
Georgia
176
7,653,756
4.7
Hawaii
13
337,251
0.2
Idaho
21
1,019,460
0.6
Illinois
240
7,493,616
4.6
Indiana
76
1,523,052
0.9
Iowa
28
878,412
0.5
Kansas
115
4,839,605
3.0
Kentucky
46
1,898,133
1.2
Louisiana
213
6,430,608
3.9
Maine
12
565,175
0.3
Maryland
96
3,621,796
2.2
Massachusetts
50
1,269,863
0.8
Michigan
169
6,342,247
3.9
Minnesota
93
2,023,924
1.2
Mississippi
72
2,078,529
1.3
Missouri
168
5,635,706
3.4
Montana
23
393,872
0.2
Nebraska
24
628,302
0.4
Nevada
57
1,547,088
0.9
New Hampshire
15
429,321
0.3
New Jersey
64
2,531,209
1.5
New Mexico
11
578,440
0.4
New York
159
6,384,435
3.9
North Carolina
94
3,760,137
2.3
North Dakota
1
32,178
*
Ohio
25
526,881
0.3
Oklahoma
139
3,796,013
2.3
Oregon
112
3,965,932
2.4
Pennsylvania
89
2,617,085
1.6
Rhode Island
7
252,996
0.2
South Carolina
49
1,788,805
1.1
South Dakota
6
146,778
0.1
Tennessee
127
3,181,005
1.9
Texas
576
16,643,288
10.2
Utah
22
886,583
0.5
Vermont
5
306,813
0.2
Virginia
91
3,479,817
2.1
Washington
160
5,734,227
3.5
West Virginia
14
285,542
0.2
Wisconsin
120
3,217,745
2.0
Wyoming
5
104,951
0.1
Other
48
1,921,055
1.2
Total
4,965
$
163,937,875
100.0
%
*
Represents a percentage greater than 0% but less than 0.05%.

2003-1
We have based the geographic distribution shown in the table on the billing addresses of the borrowers of the trust student loans shown on the servicer's records as of the statistical disclosure date.
Each of the trust student loans provides or will provide for the amortization of its outstanding principal balance over a series of regular payments. Except as described below, each regular payment consists of an installment of interest which is calculated on the basis of the outstanding principal balance of the trust student loan. The amount received is applied first to interest accrued to the date of payment and the balance of the payment, if any, is applied to reduce the unpaid principal balance. Accordingly, if a borrower pays a regular installment before its scheduled due date, the portion of the payment allocable to interest for the period since the preceding payment was made will be less than it would have been had the payment been made as scheduled, and the portion of the payment applied to reduce the unpaid principal balance will be correspondingly greater. Conversely, if a borrower pays a monthly installment after its scheduled due date, the portion of the payment allocable to interest for the period since the preceding payment was made will be greater than it would have been had the payment been made as scheduled, and the portion of the payment applied to reduce the unpaid principal balance will be correspondingly less.
In either case, subject to any applicable deferment periods or forbearance periods, and except as provided below, the borrower pays a regular installment until the final scheduled payment date, at which time the amount of the final installment is increased or decreased as necessary to repay the then outstanding principal balance of that trust student loan.
The servicer makes available to borrowers of student loans it holds (including the trust student loans) payment terms that may result in the lengthening of the remaining term of the student loans. For example, not all of the loans sold to the trust provide for level payments throughout the repayment term of the loans. Some student loans provide for interest only payments to be made for a designated portion of the term of the loans, with amortization of the principal of the loans occurring only when payments increase in the latter stage of the term of the loans. Other loans provide for a graduated phase in of the amortization of principal with a greater portion of principal amortization being required in the latter stages than would be the case if amortization were on a level payment basis. The servicer also offers an income-sensitive repayment plan, under which repayments are based on the borrower's income. Under that plan, ultimate repayment may be delayed up to five years. Borrowers under trust student loans will continue to be eligible for the graduated payment and income-sensitive repayment plans. These programs are applicable to the trust student loans and may be offered by the servicer to related borrowers at its discretion.
The following table provides certain information about trust student loans subject to the repayment terms described in the preceding paragraphs.

2003-1
DISTRIBUTION OF THE TRUST STUDENT LOANS BY REPAYMENT
TERMS AS OF THE STATISTICAL DISCLOSURE DATE

Loan Repayment Terms
Number
of Loans
Aggregate
Outstanding
Principal Balance
Percent of Pool
by Outstanding
Principal Balance
Level Repayment
1,968
$
55,250,105
33.7
%
Other Repayment Options(1)
1,584
35,181,767
21.5
Income-driven Repayment(2)
1,413
73,506,003
44.8
Total
4,965
$
163,937,875
100.0
%
(1) Includes, among others, graduated repayment and interest-only period loans.
(2) Includes income sensitive and income based repayment.
With respect to interest-only loans, as of the statistical disclosure date, there are 41 loans with an aggregate outstanding principal balance of $1,912,651 currently in an interest-only period. These interest-only loans represent approximately 1.2% of the aggregate outstanding principal balance of the trust student loans. Interest-only periods range up to 48 months in overall length.
The servicer may in the future offer repayment terms similar to those described above to borrowers of trust student loans who are not entitled to these repayment terms as of the statistical disclosure date. If repayment terms are offered to and accepted by those borrowers, the weighted average life of the securities could be lengthened.
DISTRIBUTION OF THE TRUST STUDENT LOANS BY LOAN
TYPE AS OF THE STATISTICAL DISCLOSURE DATE
Loan Type
Number
of Loans
Aggregate
Outstanding
Principal Balance
Percent of Pool
by Outstanding
Principal Balance
Subsidized
2,499
$
71,443,730
43.6
%
Unsubsidized
2,466
92,494,145
56.4
Total
4,965
$
163,937,875
100.0
%

2003-1
The following table provides information about the trust student loans regarding date of disbursement.

DISTRIBUTION OF THE TRUST STUDENT LOANS
BY DATE OF DISBURSEMENT AS OF
THE STATISTICAL DISCLOSURE DATE

Disbursement Date
Number
of Loans
Aggregate
Outstanding
Principal
Balance
Percent of Pool
by Outstanding
Principal
Balance
September 30, 1993 and earlier
11
$
341,011
0.2
%
October 1, 1993 through June 30, 2006
4,954
163,596,863
99.8
July 1, 2006 and later
0
0
0.0
Total
4,965
$
163,937,875
100.0
%
Guaranty Agencies for the Trust Student Loans. The eligible lender trustee has entered into a separate guarantee agreement with each of the guaranty agencies listed below, under which each of the guarantors has agreed to serve as guarantor for specified trust student loans.
The following table provides information with respect to the portion of the trust student loans guaranteed by each guarantor.
DISTRIBUTION OF THE TRUST STUDENT LOANS
BY GUARANTY AGENCY AS OF
THE STATISTICAL DISCLOSURE DATE
Name of Guaranty Agency
Number
of Loans
Aggregate
Outstanding
Principal Balance
Percent of Pool
by Outstanding
Principal
Balance
American Student Assistance
255
$
4,298,218
2.6
%
College Assist
8
284,296
0.2
Educational Credit Management Corporation
561
16,516,641
10.1
Great Lakes Higher Education Corporation
2,527
89,836,858
54.8
Kentucky Higher Educ. Asst. Auth.
80
2,086,968
1.3
Michigan Guaranty Agency
103
3,056,824
1.9
Oklahoma Guaranteed Stud Loan Prog
157
3,888,392
2.4
Pennsylvania Higher Education Assistance Agency
537
18,980,133
11.6
Texas Guaranteed Student Loan Corp
737
24,989,546
15.2
Total
4,965
$
163,937,875
100.0
%

2003-1
SLM Student Loan Trust 2003-1 published this content on June 03, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on June 03, 2026 at 20:46 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]