SLM Student Loan Trust 2012-3
09/04/2026 | Press release | Distributed by Public on 09/04/2026 11:20
Asset-Backed Issuer Distribution Report (Form 10-D)
SLM Student Loan Trust 2012-3
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 2012-3 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
05/03/2012
|
06/30/2026
|
07/31/2026
|
|||||||||
|
|
Principal Balance |
$
|
1,207,071,961.47
|
$
|
189,202,245.74
|
$
|
186,925,431.61
|
||||||
|
|
Interest to be Capitalized Balance |
24,814,000.46
|
2,595,430.16
|
2,613,863.23
|
|||||||||
|
|
Pool Balance |
$
|
1,231,885,961.93
|
$
|
191,797,675.90
|
$
|
189,539,294.84
|
||||||
|
|
Capitalized Interest Account Balance |
$
|
11,000,000.00
|
-
|
-
|
||||||||
|
|
Specified Reserve Account Balance |
3,123,383.00
|
- N/A -
|
- N/A -
|
|||||||||
|
|
Adjusted Pool (1) |
$
|
1,246,009,344.93
|
$
|
191,797,675.90
|
$
|
189,539,294.84
|
||||||
|
|
Weighted Average Coupon (WAC) |
6.41%
|
|
6.87%
|
|
6.80%
|
|
||||||
|
|
Number of Loans |
294,137
|
28,055
|
27,680
|
|||||||||
|
|
Aggregate Outstanding Principal Balance - Tbill |
$
|
8,071,648.43
|
$
|
8,034,961.61
|
||||||||
|
|
Aggregate Outstanding Principal Balance - SOFR |
$
|
183,726,027.47
|
$
|
181,504,333.23
|
||||||||
|
|
Pool Factor |
0.153517600
|
0.151709960
|
||||||||||
|
|
Since Issued Constant Prepayment Rate |
(54.12)%
|
|
(54.70)%
|
|
||||||||
| (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
|
|||||||
| A |
|
78447AAA2
|
$
|
152,274,699.14
|
$
|
150,038,901.89
|
|||||
| B |
|
78447AAB0
|
$
|
37,605,000.00
|
$
|
37,605,000.00
|
|||||
|
C
|
Account Balances
|
07/27/2026
|
08/25/2026
|
||||||
|
|
Reserve Account Balance |
$
|
1,249,353.00
|
$
|
1,249,353.00
|
||||
|
|
Capitalized Interest Account Balance |
-
|
-
|
||||||
|
|
Floor Income Rebate Account |
$
|
304,541.33
|
$
|
453,729.13
|
||||
|
|
Supplemental Loan Purchase Account |
-
|
-
|
||||||
|
D
|
Asset / Liability
|
07/27/2026
|
08/25/2026
|
||||||
|
|
Adjusted Pool Balance + Supplemental Loan Purchase |
$
|
191,797,675.90
|
$
|
189,539,294.84
|
||||
|
|
Total Notes |
$
|
189,879,699.14
|
$
|
187,643,901.89
|
||||
|
|
Difference |
$
|
1,917,976.76
|
$
|
1,895,392.95
|
||||
|
|
Parity Ratio |
1.01010
|
1.01010
|
||||||
|
Page 2 of 9
|
Trust 2012-3 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
|
355,509.80
|
||||
|
Guarantor Principal
|
1,749,171.40
|
||||
|
Consolidation Activity Principal
|
687,850.83
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
15,060.30
|
||||
|
Total Principal Receipts
|
$
|
2,807,592.33
|
|||
| B |
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
230,713.26
|
||||
|
Guarantor Interest
|
102,003.13
|
||||
|
Consolidation Activity Interest
|
19,267.18
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
(175.23)
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
15,294.34
|
||||
|
Total Interest Receipts
|
$
|
367,102.68
|
|||
| C |
Reserves in Excess of Requirement
|
|
-
|
||
| D |
Investment Income
|
$
|
14,512.35
|
||
|
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
|
$
|
(149,187.80)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
3,040,019.56
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(530,778.20)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
42,258.01
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
$
|
15,112.08
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2012-3 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
III.
|
2012-3 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
|
6.69%
|
|
29
|
$
|
131,689.87
|
0.070%
|
|
6.75%
|
|
29
|
$
|
131,689.87
|
0.070%
|
|
||||||||||||||||||
|
|
GRACE |
6.94%
|
|
16
|
$
|
50,385.00
|
0.027%
|
|
6.94%
|
|
16
|
$
|
50,385.00
|
0.027%
|
|
||||||||||||||||||
|
|
DEFERMENT |
6.76%
|
|
1,682
|
$
|
11,482,980.36
|
6.143%
|
|
6.82%
|
|
1,670
|
$
|
11,228,001.43
|
5.934%
|
|
||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.79%
|
|
18,703
|
$
|
116,306,630.18
|
62.221%
|
|
6.86%
|
|
19,042
|
$
|
117,792,912.00
|
62.258%
|
|
||||||||||||||||||
|
|
31-60 DAYS DELINQUENT |
6.82%
|
|
907
|
$
|
7,322,553.72
|
3.917%
|
|
6.87%
|
|
913
|
$
|
7,684,507.24
|
4.062%
|
|
||||||||||||||||||
|
|
61-90 DAYS DELINQUENT |
6.84%
|
|
608
|
$
|
5,378,685.74
|
2.877%
|
|
6.89%
|
|
657
|
$
|
5,302,740.89
|
2.803%
|
|
||||||||||||||||||
|
|
91-120 DAYS DELINQUENT |
6.86%
|
|
477
|
$
|
3,902,068.42
|
2.088%
|
|
6.81%
|
|
463
|
$
|
3,888,162.28
|
2.055%
|
|
||||||||||||||||||
|
|
> 120 DAYS DELINQUENT |
6.84%
|
|
1,453
|
$
|
12,102,778.87
|
6.475%
|
|
6.91%
|
|
1,480
|
$
|
12,683,285.23
|
6.704%
|
|
||||||||||||||||||
|
|
FORBEARANCE |
6.83%
|
|
3,482
|
$
|
27,340,673.89
|
14.627%
|
|
6.92%
|
|
3,416
|
$
|
27,412,579.08
|
14.489%
|
|
||||||||||||||||||
|
|
CLAIMS IN PROCESS |
6.77%
|
|
323
|
$
|
2,906,985.56
|
1.555%
|
|
6.86%
|
|
369
|
$
|
3,027,982.72
|
1.600%
|
|
||||||||||||||||||
|
TOTAL
|
27,680
|
$
|
186,925,431.61
|
100.00%
|
|
28,055
|
$
|
189,202,245.74
|
100.00%
|
|
|||||||||||||||||||||||
|
*
|
Percentages may not total 100% due to rounding
|
|
Page 4 of 9
|
Trust 2012-3 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
IV.
|
2012-3 Portfolio Characteristics (cont'd)
|
|
07/31/2026
|
06/30/2026
|
|||||||
|
Pool Balance
|
$
|
189,539,294.84
|
$
|
191,797,675.90
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
10,028,670.51
|
$
|
9,918,012.52
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
2,613,863.23
|
$
|
2,595,430.16
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,017,613.11
|
$
|
1,050,358.39
|
||||
|
Total # Loans
|
27,680
|
28,055
|
||||||
|
Total # Borrowers
|
12,777
|
12,960
|
||||||
|
Weighted Average Coupon
|
6.80%
|
|
6.87%
|
|
||||
|
Weighted Average Remaining Term
|
202.08
|
201.77
|
||||||
|
Non-Reimbursable Losses
|
$
|
42,258.01
|
$
|
30,422.33
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
9,668,735.39
|
$
|
9,626,477.38
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-54.70%
|
|
-54.12%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
|
-
|
-
|
|||||
|
Cumulative Rejected Claim Repurchases
|
$
|
926,143.85
|
$
|
926,143.85
|
||||
|
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
|
$
|
568,255.62
|
$
|
814,607.30
|
||||
|
Borrower Interest Accrued
|
$
|
1,036,547.15
|
$
|
1,025,142.77
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
40,559.50
|
$
|
40,163.00
|
||||
|
Special Allowance Payments Accrued
|
$
|
32,940.44
|
$
|
28,537.21
|
||||
|
Page 5 of 9
|
Trust 2012-3 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
V.
|
2012-3 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
|
- GSL (1) - Subsidized |
6.70%
|
|
14,983
|
75,530,476.78
|
40.407%
|
|
||||||||||
|
|
- GSL - Unsubsidized |
6.73%
|
|
12,180
|
102,010,628.75
|
54.573%
|
|
||||||||||
|
|
- PLUS (2) Loans |
8.37%
|
|
517
|
9,384,326.08
|
5.020%
|
|
||||||||||
|
|
- SLS (3) Loans |
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
- Consolidation Loans |
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
Total |
6.80%
|
|
27,680
|
$
|
186,925,431.61
|
100.000%
|
|
|||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
|
- Four Year |
6.81%
|
|
22,603
|
160,276,112.66
|
85.743%
|
|
||||||||||
|
|
- Two Year |
6.76%
|
|
4,056
|
21,045,054.80
|
11.259%
|
|
||||||||||
|
|
- Technical |
6.77%
|
|
1,004
|
5,509,370.86
|
2.947%
|
|
||||||||||
|
|
- Other |
6.63%
|
|
17
|
94,893.29
|
0.051%
|
|
||||||||||
|
|
Total |
6.80%
|
|
27,680
|
$
|
186,925,431.61
|
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 2012-3 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
VI.
|
2012-3 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
3,040,019.56
|
|||||||
|
A |
Trustee Fees |
|
- |
|
|
$ |
3,040,019.56 |
|
|
|
B |
Primary Servicing Fee
|
$
|
70,340.69
|
$
|
2,969,678.87
|
||||
|
C |
Administration Fee
|
$
|
6,667.00
|
$
|
2,963,011.87
|
||||
|
D |
Class A Noteholders' Interest Distribution Amount
|
$
|
537,344.59
|
$
|
2,425,667.28
|
||||
|
E |
Class B Noteholders' Interest Distribution Amount
|
$
|
141,787.81
|
$
|
2,283,879.47
|
||||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
2,283,879.47
|
|||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
2,235,797.25
|
$
|
48,082.22
|
||||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$
|
48,082.22
|
|||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
$
|
48,082.22
|
|||||
|
J
|
Carryover Servicing Fee
|
-
|
$
|
48,082.22
|
|||||
|
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$
|
48,082.22
|
|||||
|
L
|
Excess Distribution Certificateholder
|
$
|
48,082.22
|
-
|
|||||
|
Waterfall Triggers
|
|||||
| A |
Student Loan Principal Outstanding
|
$
|
186,925,431.61
|
||
| B |
Interest to be Capitalized
|
$
|
2,613,863.23
|
||
| C |
Capitalized Interest Account Balance
|
-
|
|||
| D |
Reserve Account Balance (after any reinstatement)
|
$
|
1,249,353.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(1,249,353.00)
|
|
|
|
F
|
Total
|
$
|
189,539,294.84
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
150,038,901.89
|
||
|
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 2012-3 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
VII.
|
2012-3 Distributions
|
Distribution Amounts
| A |
|
B |
|
|||||
|
Cusip/Isin
|
78447AAA2
|
78447AAB0
|
||||||
|
Beginning Balance
|
$
|
152,274,699.14
|
$
|
37,605,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.65%
|
|
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*
|
4.38056%
|
|
4.68056%
|
|
||||
|
Accrued Interest Factor
|
0.003528784
|
0.003770451
|
||||||
|
Current Interest Due
|
$
|
537,344.59
|
$
|
141,787.81
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
537,344.59
|
$
|
141,787.81
|
||||
|
Interest Paid
|
$
|
537,344.59
|
$
|
141,787.81
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
2,235,797.25
|
-
|
|||||
|
Ending Principal Balance
|
$
|
150,038,901.89
|
$
|
37,605,000.00
|
||||
|
Paydown Factor
|
0.001840920
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.123539648
|
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 2012-3 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
|
VIII.
|
2012-3 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
|
Notes Outstanding Principal Balance |
$
|
189,879,699.14
|
||
|
|
Adjusted Pool Balance |
$
|
189,539,294.84
|
||
|
|
Overcollateralization Amount |
$
|
1,895,392.95
|
||
|
|
Principal Distribution Amount |
$
|
2,235,797.25
|
||
|
|
Principal Distribution Amount Paid |
$
|
2,235,797.25
|
||
|
B
|
Reserve Account Reconciliation
|
||||
|
|
Beginning Period Balance |
$
|
1,249,353.00
|
||
|
|
Reserve Funds Utilized |
0.00
|
|||
|
|
Reserve Funds Reinstated |
0.00
|
|||
|
|
Balance Available |
$
|
1,249,353.00
|
||
|
|
Required Reserve Acct Balance |
$
|
1,249,353.00
|
||
|
|
Release to Collection Account |
|
-
|
||
|
|
Ending Reserve Account Balance |
$
|
1,249,353.00
|
||
|
C
|
Capitalized Interest Account
|
||||
|
|
Beginning Period Balance |
-
|
|||
|
|
Transfers to Collection Account |
-
|
|||
|
|
Ending Balance |
-
|
|||
|
D
|
Floor Income Rebate Account
|
||||
|
|
Beginning Period Balance |
$
|
304,541.33
|
||
|
|
Deposits for the Period |
$
|
149,187.80
|
||
|
|
Release to Collection Account |
|
-
|
|
|
|
|
Ending Balance |
$
|
453,729.13
|
||
|
E
|
Supplemental Purchase Account
|
||||
|
|
Beginning Period Balance |
-
|
|||
|
|
Supplemental Loan Purchases |
-
|
|||
|
|
Transfers to Collection Account |
-
|
|||
|
|
Ending Balance |
-
|
|||
|
Page 9 of 9
|
Trust 2012-3 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026
|
SLM Student Loan Trust 2012-3 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]