Results
SLM Student Loan Trust 2013 4
01/08/2025 | Press release | Distributed by Public on 01/08/2025 11:27
Asset Backed Issuer Distribution Report (Form 10 D)
SLM Student Loan Trust 2013-4
Monthly Servicing Report
Distribution Date 12/26/2024
Collection Period 11/01/2024 - 11/30/2024
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 2013-4 Monthly Servicing Report: Collection Period 11/01/2024 - 11/30/2024, Distribution Date 12/26/2024
|
| I. |
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
08/15/2013
|
10/31/2024
|
11/30/2024
|
|||||||||
|
|
Principal Balance |
$
|
721,402,856.22
|
$
|
138,166,031.46
|
$
|
137,277,585.94
|
||||||
|
|
Interest to be Capitalized Balance |
12,923,603.00
|
1,596,951.43
|
1,523,164.08
|
|||||||||
|
|
Pool Balance |
$
|
734,326,459.22
|
$
|
139,762,982.89
|
$
|
138,800,750.02
|
||||||
|
|
Specified Reserve Account Balance |
3,744,487.00
|
- N/A -
|
- N/A -
|
|||||||||
|
|
Adjusted Pool(1) |
$
|
738,070,946.22
|
$
|
139,762,982.89
|
$
|
138,800,750.02
|
||||||
|
|
Weighted Average Coupon (WAC)
|
6.28%
|
|
7.08%
|
|
7.08%
|
|
||||||
|
|
Number of Loans |
163,648
|
21,548
|
21,345
|
|||||||||
|
|
Aggregate Outstanding Principal Balance - Tbill |
|
-
|
||||||||||
|
|
Aggregate Outstanding Principal Balance - SOFR |
$
|
139,762,982.89
|
$
|
138,800,750.02
|
||||||||
|
|
Pool Factor |
0.186625007
|
0.185340140
|
||||||||||
|
|
Since Issued Constant Prepayment Rate |
(31.90)%
|
|
(34.46)%
|
|
|
(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
|
11/25/2024
|
12/26/2024
|
|||||||
| A |
|
78448AAA1
|
$
|
117,455,731.62
|
$
|
116,812,742.52
|
|||||
| B |
|
78448AAD5
|
$
|
20,600,000.00
|
$
|
20,600,000.00
|
|
C
|
Account Balances
|
11/25/2024
|
12/26/2024
|
||||||
|
|
Reserve Account Balance |
$
|
748,897.00
|
$
|
748,897.00
|
||||
|
|
Capitalized Interest Account Balance |
-
|
-
|
||||||
|
|
Floor Income Rebate Account |
$
|
26,899.25
|
$
|
14,963.92
|
||||
|
|
Supplemental Loan Purchase Account |
-
|
-
|
|
D
|
Asset / Liability
|
11/25/2024
|
12/26/2024
|
||||||
|
|
Adjusted Pool Balance + Supplemental Loan Purchase |
$
|
139,762,982.89
|
$
|
138,800,750.02
|
||||
|
|
Total Notes |
$
|
138,055,731.62
|
$
|
137,412,742.52
|
||||
|
|
Difference |
$
|
1,707,251.27
|
$
|
1,388,007.50
|
||||
|
|
Parity Ratio |
1.01237
|
1.01010
|
|
Page 2 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 11/01/2024 - 11/30/2024, Distribution Date 12/26/2024
|
| II. |
Trust Activity 11/01/2024 through 11/30/2024
|
| A |
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
297,140.33
|
||||
|
Guarantor Principal
|
562,564.76
|
||||
|
Consolidation Activity Principal
|
413,786.18
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
1,273,491.27
|
|||
|
B |
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
184,395.54
|
||||
|
Guarantor Interest
|
24,774.06
|
||||
|
Consolidation Activity Interest
|
4,918.24
|
||||
|
Special Allowance Payments
|
329,476.52
|
||||
|
Interest Subsidy Payments
|
82,624.26
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
0.00
|
|
|||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
5,249.82
|
||||
|
Total Interest Receipts
|
$
|
631,438.44
|
|||
| C |
Reserves in Excess of Requirement
|
|
-
|
||
| D |
Investment Income
|
$
|
7,800.83
|
||
|
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
|
$ |
26,899.25
|
|
|
|
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
|
$ |
(20,413.10)
|
|
||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(14,963.92)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
1,904,252.77
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(385,045.75)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
10,382.13
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
-
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|
Page 3 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 11/01/2024 - 11/30/2024, Distribution Date 12/26/2024
|
| III. |
2013-4 Portfolio Characteristics
|
|
11/30/2024
|
10/31/2024
|
||||||||||||||||||||||||||||||||
|
Wtd Avg Coupon
|
# Loans
|
Principal
|
% of Principal
|
Wtd Avg Coupon
|
# Loans
|
Principal
|
% of Principal
|
||||||||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.81%
|
|
20
|
$
|
155,522.07
|
0.113%
|
|
6.81%
|
|
20
|
$
|
155,522.07
|
0.113%
|
|
||||||||||||||||||
|
|
GRACE |
6.93%
|
|
4
|
$
|
37,000.00
|
0.027%
|
|
6.93%
|
|
4
|
$
|
37,000.00
|
0.027%
|
|
||||||||||||||||||
|
|
DEFERMENT |
6.87%
|
|
1,218
|
$
|
7,799,076.18
|
5.681%
|
|
6.86%
|
|
1,245
|
$
|
7,727,467.48
|
5.593%
|
|
||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
7.08%
|
|
14,442
|
$
|
87,132,164.99
|
63.472%
|
|
7.07%
|
|
14,419
|
$
|
85,828,145.34
|
62.120%
|
|
||||||||||||||||||
|
|
31-60 DAYS DELINQUENT |
7.08%
|
|
981
|
$
|
7,000,620.45
|
5.100%
|
|
7.22%
|
|
663
|
$
|
4,944,411.98
|
3.579%
|
|
||||||||||||||||||
|
|
61-90 DAYS DELINQUENT |
7.20%
|
|
529
|
$
|
3,932,855.86
|
2.865%
|
|
7.07%
|
|
424
|
$
|
2,961,200.72
|
2.143%
|
|
||||||||||||||||||
|
|
91-120 DAYS DELINQUENT |
7.04%
|
|
346
|
$
|
2,439,620.07
|
1.777%
|
|
7.02%
|
|
291
|
$
|
2,579,484.60
|
1.867%
|
|
||||||||||||||||||
|
|
> 120 DAYS DELINQUENT |
7.09%
|
|
912
|
$
|
7,134,521.95
|
5.197%
|
|
7.11%
|
|
852
|
$
|
6,273,144.78
|
4.540%
|
|
||||||||||||||||||
|
|
FORBEARANCE |
7.13%
|
|
2,806
|
$
|
21,149,338.79
|
15.406%
|
|
7.15%
|
|
3,499
|
$
|
26,820,923.17
|
19.412%
|
|
||||||||||||||||||
|
|
CLAIMS IN PROCESS |
7.21%
|
|
87
|
$
|
496,865.58
|
0.362%
|
|
7.06%
|
|
131
|
$
|
838,731.32
|
0.607%
|
|
||||||||||||||||||
|
TOTAL
|
21,345
|
$
|
137,277,585.94
|
100.00%
|
|
21,548
|
$
|
138,166,031.46
|
100.00%
|
|
* Percentages may not total 100% due to rounding
|
Page 4 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 11/01/2024 - 11/30/2024, Distribution Date 12/26/2024
|
| IV. |
2013-4 Portfolio Characteristics (cont'd)
|
|
11/30/2024
|
10/31/2024
|
|||||||
|
Pool Balance
|
$
|
138,800,750.02
|
$
|
139,762,982.89
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
7,012,339.99
|
$
|
6,854,925.83
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
1,523,164.08
|
$
|
1,596,951.43
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
752,877.45
|
$
|
619,024.49
|
||||
|
Total # Loans
|
21,345
|
21,548
|
||||||
|
Total # Borrowers
|
6,877
|
6,952
|
||||||
|
Weighted Average Coupon
|
7.08%
|
|
7.08%
|
|
||||
|
Weighted Average Remaining Term
|
185.31
|
184.91
|
||||||
|
Non-Reimbursable Losses
|
$
|
10,382.13
|
$
|
3,288.06
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
2,620,952.74
|
$
|
2,610,570.61
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-34.46 %
|
|
-31.90 %
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
-
|
-
|
||||||
|
Cumulative Rejected Claim Repurchases
|
$
|
145,788.07
|
$
|
145,788.07
|
||||
|
Unpaid Primary Servicing Fees
|
-
|
-
|
||||||
|
Unpaid Administration Fees
|
-
|
-
|
||||||
|
Unpaid Carryover Servicing Fees
|
-
|
-
|
||||||
|
Note Principal Shortfall
|
|
-
|
-
|
|||||
|
Note Interest Shortfall
|
-
|
-
|
||||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
395,497.75
|
$
|
606,178.32
|
||||
|
Borrower Interest Accrued
|
$
|
767,861.11
|
$
|
797,434.82
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
25,310.52
|
$
|
26,081.13
|
||||
|
Special Allowance Payments Accrued
|
$
|
53,545.16
|
$
|
71,727.84
|
|
Page 5 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 11/01/2024 - 11/30/2024, Distribution Date 12/26/2024
|
| V. |
2013-4 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
|
- GSL (1) - Subsidized |
6.90%
|
|
11,449
|
50,892,128.25
|
37.072%
|
|
||||||||||
|
|
- GSL - Unsubsidized |
6.90%
|
|
9,258
|
71,319,502.03
|
51.953%
|
|
||||||||||
|
|
- PLUS (2) Loans |
8.50%
|
|
638
|
15,065,955.66
|
10.975%
|
|
||||||||||
|
|
- SLS (3) Loans |
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
- Consolidation Loans |
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
Total |
7.08%
|
|
21,345
|
$
|
137,277,585.94
|
100.000%
|
|
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
|
- Four Year |
7.09%
|
|
18,828
|
127,224,318.90
|
92.677%
|
|
||||||||||
|
|
- Two Year |
6.97%
|
|
2,077
|
8,343,757.38
|
6.078%
|
|
||||||||||
|
|
- Technical |
7.01%
|
|
440
|
1,709,509.66
|
1.245%
|
|
||||||||||
|
|
- Other |
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
Total |
7.08%
|
|
21,345
|
$
|
137,277,585.94
|
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 2013-4 Monthly Servicing Report: Collection Period 11/01/2024 - 11/30/2024, Distribution Date 12/26/2024
|
| VI. |
2013-4 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
1,904,252.77
|
|||||||
|
A |
Trustee Fees |
- |
$ |
1,904,252.77
|
|||||
|
B |
Primary Servicing Fee
|
$
|
34,182.26
|
$
|
1,870,070.51
|
||||
|
C |
Administration Fee
|
$
|
6,667.00
|
$
|
1,863,403.51
|
||||
|
D |
Class A Noteholders' Interest Distribution Amount
|
$
|
546,018.45
|
$
|
1,317,385.06
|
||||
|
E |
Class B Noteholders' Interest Distribution Amount
|
$
|
112,615.51
|
$
|
1,204,769.55
|
||||
|
F |
Reserve Account Reinstatement
|
-
|
$
|
1,204,769.55
|
|||||
|
G |
Class A Noteholders' Principal Distribution Amount
|
$
|
642,989.10
|
$ |
561,780.45
|
||||
|
H |
Class B Noteholders' Principal Distribution Amount
|
-
|
$ |
561,780.45
|
|||||
|
I |
Unpaid Expenses of The Trustees
|
-
|
$ |
561,780.45
|
|||||
|
J |
Carryover Servicing Fee
|
-
|
$ |
561,780.45
|
|||||
|
K |
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$ |
561,780.45
|
|||||
|
L |
Excess Distribution Certificateholder
|
$ |
561,780.45
|
- |
|
Waterfall Triggers
|
|||||
| A |
Student Loan Principal Outstanding
|
$
|
137,277,585.94
|
||
| B |
Interest to be Capitalized
|
$
|
1,523,164.08
|
||
| C |
Capitalized Interest Account Balance
|
-
|
|||
| D |
Reserve Account Balance (after any reinstatement)
|
$
|
748,897.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(748,897.00)
|
|
|
|
F
|
Total
|
$
|
138,800,750.02
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
116,812,742.52
|
||
|
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 2013-4 Monthly Servicing Report: Collection Period 11/01/2024 - 11/30/2024, Distribution Date 12/26/2024
|
| VII. |
2013-4 Distributions
|
Distribution Amounts
| A |
|
B |
|
|||||
|
Cusip/Isin
|
78448AAA1
|
78448AAD5
|
||||||
|
Beginning Balance
|
$
|
117,455,731.62
|
$
|
20,600,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.55%
|
|
1.50%
|
|
||||
|
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
1 NEW YORK BUSINESS DAY
|
||||||
|
Accrual Period Begin
|
11/25/2024
|
11/25/2024
|
||||||
|
Accrual Period End
|
12/26/2024
|
12/26/2024
|
||||||
|
Daycount Fraction
|
0.08611111
|
0.08611111
|
||||||
|
Interest Rate*
|
5.39851%
|
|
6.34851%
|
|
||||
|
Accrued Interest Factor
|
0.004648717
|
0.005466772
|
||||||
|
Current Interest Due
|
$
|
546,018.45
|
$
|
112,615.51
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
546,018.45
|
$
|
112,615.51
|
||||
|
Interest Paid
|
$
|
546,018.45
|
$
|
112,615.51
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
642,989.10
|
-
|
|||||
|
Ending Principal Balance
|
$
|
116,812,742.52
|
$
|
20,600,000.00
|
||||
|
Paydown Factor
|
0.000885660
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.160899094
|
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 2013-4 Monthly Servicing Report: Collection Period 11/01/2024 - 11/30/2024, Distribution Date 12/26/2024
|
| VIII. |
2013-4 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
|
Notes Outstanding Principal Balance |
$
|
138,055,731.62
|
||
|
|
Adjusted Pool Balance |
$
|
138,800,750.02
|
||
|
|
Overcollateralization Amount |
$
|
1,388,007.50
|
||
|
|
Principal Distribution Amount |
$
|
642,989.10
|
||
|
|
Principal Distribution Amount Paid |
$
|
642,989.10
|
||
|
B
|
Reserve Account Reconciliation
|
||||
|
|
Beginning Period Balance |
$
|
748,897.00
|
||
|
|
Reserve Funds Utilized |
0.00
|
|||
|
|
Reserve Funds Reinstated |
0.00
|
|||
|
|
Balance Available |
$
|
748,897.00
|
||
|
|
Required Reserve Acct Balance |
$
|
748,897.00
|
||
|
|
Release to Collection Account |
|
-
|
||
|
|
Ending Reserve Account Balance |
$
|
748,897.00
|
||
|
C
|
Floor Income Rebate Account
|
||||
|
|
Beginning Period Balance |
$
|
26,899.25
|
||
|
|
Deposits for the Period |
$
|
14,963.92
|
||
|
|
Release to Collection Account | $ |
(26,899.25)
|
|
|
|
|
Ending Balance |
$
|
14,963.92
|
||
|
D
|
Supplemental Purchase Account
|
||||
|
|
Beginning Period Balance |
-
|
|||
|
|
Supplemental Loan Purchases |
-
|
|||
|
|
Transfers to Collection Account |
-
|
|||
|
|
Ending Balance |
-
|
|
Page 9 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 11/01/2024 - 11/30/2024, Distribution Date 12/26/2024
|