Navient Student Loan Trust 2015 1
12/08/2025 | Press release | Distributed by Public on 12/08/2025 08:53
Asset-Backed Issuer Distribution Report (Form 10-D)
Navient Student Loan Trust 2015-1
Monthly Servicing Report
Distribution Date 11/25/2025
Collection Period 10/01/2025 - 10/31/2025
Navient Funding, LLC - Depositor
Navient Solutions - Master Servicer and Administrator
Wells Fargo - Indenture Trustee
Wells Fargo Bank, National Association - Eligible Lender Trustee
Navient Funding - Excess Distribution Certificateholder
|
Page 1 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025 |
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
02/26/2015
|
09/30/2025
|
10/31/2025
|
|||||||||
|
|
Principal Balance
|
$
|
968,675,662.97
|
$
|
272,336,691.54
|
$
|
270,137,362.62
|
||||||
|
|
Interest to be Capitalized Balance |
8,452,423.99
|
2,809,777.62
|
2,853,886.75
|
|||||||||
|
|
Pool Balance
|
$
|
977,128,086.96
|
$
|
275,146,469.16
|
$
|
272,991,249.37
|
||||||
|
|
Specified Reserve Account Balance |
16,379,916.00
|
- N/A -
|
- N/A -
|
|||||||||
|
|
Adjusted Pool (1)
|
$
|
993,508,002.96
|
$
|
275,146,469.16
|
$
|
272,991,249.37
|
||||||
|
|
Weighted Average Coupon (WAC) |
6.11%
|
|
6.62%
|
|
6.62%
|
|
||||||
|
|
Number of Loans |
155,605
|
28,415
|
28,085
|
|||||||||
|
|
Aggregate Outstanding Principal Balance - Tbill |
$
|
36,004,747.87
|
$
|
35,725,370.51
|
||||||||
|
|
Aggregate Outstanding Principal Balance - SOFR |
$
|
239,141,721.29
|
$
|
237,265,878.86
|
||||||||
|
|
Pool Factor |
0.277163616
|
0.274992596
|
||||||||||
|
|
Since Issued Constant Prepayment Rate |
(3.61)%
|
|
(3.62)%
|
|
||||||||
| (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
|
10/27/2025
|
11/25/2025
|
|||||||
|
A2
|
63939FAB6
|
$
|
244,319,272.12
|
$ |
242,196,380.63
|
||||||
|
B
|
63939FAC4
|
$
|
26,700,000.00
|
$
|
26,700,000.00
|
||||||
| C |
Account Balances
|
10/27/2025
|
11/25/2025
|
||||||
|
Reserve Account Balance
|
$
|
992,722.00
|
$
|
992,722.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
104,102.77
|
$
|
170,121.47
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
|
D
|
Asset / Liability
|
10/27/2025
|
11/25/2025
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
275,146,469.16
|
$
|
272,991,249.37
|
|||||
|
Total Notes
|
$
|
271,019,272.12
|
$
|
268,896,380.63
|
|||||
|
Difference
|
$
|
4,127,197.04
|
$
|
4,094,868.74
|
|||||
|
Parity Ratio
|
1.01523
|
1.01523
|
|||||||
|
Page 2 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025 |
|
II.
|
Trust Activity 10/01/2025 through 10/31/2025
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
694,686.90
|
||||
|
Guarantor Principal
|
1,578,546.51
|
||||
|
Consolidation Activity Principal
|
678,766.59
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
2,952,000.00
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
305,750.15
|
||||
|
Guarantor Interest
|
152,878.39
|
||||
|
Consolidation Activity Interest
|
22,966.14
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
4,786.53
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
17,737.37
|
||||
|
Total Interest Receipts
|
$
|
504,118.58
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
|
D
|
Investment Income
|
$
|
14,813.66
|
||
|
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
|
$
|
(99,625.45)
|
|||
|
Floor Income Rebate Fees to Dept. of Education
|
-
|
||||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(66,018.70)
|
|||
|
M
|
AVAILABLE FUNDS
|
$
|
3,305,288.09
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(752,671.08)
|
||
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
33,899.97
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
-
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025 |
|
III.
|
2015-1 Portfolio Characteristics
|
|
10/31/2025
|
09/30/2025
|
||||||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
||||||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.79%
|
|
22
|
$
|
106,805.69
|
0.040%
|
|
6.79%
|
|
24
|
$
|
117,055.69
|
0.043%
|
|
||||||||||||||||
|
|
GRACE
|
6.80%
|
|
2
|
$
|
10,250.00
|
0.004%
|
|
0.00%
|
|
0
|
|
-
|
0.000%
|
|
||||||||||||||||
|
|
DEFERMENT |
6.60%
|
|
1,664
|
$
|
13,440,007.64
|
4.975%
|
|
6.62%
|
|
1,694
|
$
|
13,882,110.36
|
5.097%
|
|
||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.58%
|
|
17,469
|
$
|
163,275,057.27
|
60.441%
|
|
6.57%
|
|
17,501
|
$
|
161,823,497.13
|
59.420%
|
|
||||||||||||||||
|
|
31-60 DAYS DELINQUENT |
6.76%
|
|
1,116
|
$
|
11,815,957.97
|
4.374%
|
|
6.64%
|
|
1,021
|
$
|
11,551,234.24
|
4.242%
|
|
||||||||||||||||
|
|
61-90 DAYS DELINQUENT |
6.67%
|
|
691
|
$
|
7,924,832.30
|
2.934%
|
|
6.70%
|
|
|
891
|
$
|
8,951,918.54
|
3.287%
|
|
|||||||||||||||
|
|
91-120 DAYS DELINQUENT |
6.71%
|
|
588
|
$
|
6,198,508.28
|
2.295%
|
|
6.55%
|
|
625
|
$
|
6,636,094.57
|
2.437%
|
|
||||||||||||||||
|
|
> 120 DAYS DELINQUENT |
6.56%
|
|
2,111
|
$
|
21,833,026.73
|
8.082%
|
|
6.54%
|
|
2,191
|
$
|
21,663,075.51
|
7.955%
|
|
||||||||||||||||
|
|
FORBEARANCE |
6.78%
|
|
3,995
|
$
|
41,316,094.20
|
15.294%
|
|
6.84%
|
|
4,126
|
$
|
44,147,887.19
|
16.211%
|
|
||||||||||||||||
|
|
CLAIMS IN PROCESS |
6.63%
|
|
427
|
$
|
4,216,822.54
|
1.561%
|
|
6.34%
|
|
342
|
$
|
3,563,818.31
|
1.309%
|
|
||||||||||||||||
|
TOTAL
|
|
28,085 |
$
|
270,137,362.62 |
100.00% |
|
28,415 |
$
|
272,336,691.54 |
100.00% |
|
||||||||||||||||||||
|
*
|
Percentages may not total 100% due to rounding
|
|
Page 4 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025 |
|
IV.
|
2015-1 Portfolio Characteristics (cont'd)
|
|
10/31/2025
|
09/30/2025
|
|||||||
|
Pool Balance
|
$
|
272,991,249.37
|
$
|
275,146,469.16
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
13,101,215.95
|
$
|
12,900,035.24
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
2,853,886.75
|
$
|
2,809,777.62
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,911,459.42
|
$
|
2,022,231.52
|
||||
|
Total # Loans
|
28,085
|
28,415
|
||||||
|
Total # Borrowers
|
12,234
|
12,382
|
||||||
|
Weighted Average Coupon
|
6.62%
|
|
6.62%
|
|
||||
|
Weighted Average Remaining Term
|
203.51
|
202.98
|
||||||
|
Non-Reimbursable Losses
|
$
|
33,899.97
|
$
|
22,554.60
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
5,755,718.34
|
$
|
5,721,818.37
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-3.62%
|
|
-3.61%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
-
|
-
|
||||||
|
Cumulative Rejected Claim Repurchases
|
$
|
405,329.34
|
$
|
405,329.34
|
||||
|
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
|
$
|
785,864.39
|
$
|
1,287,182.14
|
||||
|
Borrower Interest Accrued
|
$
|
1,466,868.46
|
$
|
1,426,749.32
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
48,651.52
|
$
|
47,655.20
|
||||
|
Special Allowance Payments Accrued
|
$
|
142,931.20
|
$
|
153,752.69
|
||||
|
Page 5 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025 |
|
V.
|
2015-1 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
% *
|
||||||||||||
|
- GSL (1) - Subsidized
|
6.68%
|
|
12,557
|
62,818,220.23
|
23.254%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.79%
|
|
10,715
|
87,511,775.41
|
32.395%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.33%
|
|
387
|
8,488,951.48
|
3.142%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.26%
|
|
39
|
331,751.82
|
0.123%
|
|
|||||||||||
|
- Consolidation Loans
|
6.32%
|
|
4,387
|
110,986,663.68
|
41.085%
|
|
|||||||||||
|
Total
|
6.62%
|
|
28,085
|
$
|
270,137,362.62
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
% *
|
||||||||||||
|
- Four Year
|
6.84%
|
|
19,083
|
135,509,818.35
|
50.163%
|
|
|||||||||||
|
- Two Year
|
6.77%
|
|
3,656
|
18,485,786.98
|
6.843%
|
|
|||||||||||
|
- Technical
|
6.79%
|
|
957
|
5,152,504.23
|
1.907%
|
|
|||||||||||
|
- Other
|
6.32%
|
|
4,389
|
110,989,253.06
|
41.086%
|
|
|||||||||||
|
Total
|
6.62%
|
|
28,085
|
$
|
270,137,362.62
|
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 2015-1 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025 |
|
VI.
|
2015-1 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
3,305,288.09
|
|||||||
|
A
|
Trustee Fees
|
-
|
$
|
3,305,288.09
|
|||||
|
B
|
Primary Servicing Fee
|
$
|
58,524.73
|
$
|
3,246,763.36
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
3,240,096.36
|
||||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
963,845.16
|
$
|
2,276,251.20
|
||||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
124,689.62
|
$
|
2,151,561.58
|
||||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
2,151,561.58
|
|||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
2,122,891.49
|
$
|
28,670.09
|
||||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$
|
28,670.09
|
|||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
$
|
28,670.09
|
|||||
|
J
|
Carryover Servicing Fee
|
-
|
$
|
28,670.09
|
|||||
|
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$
|
28,670.09
|
|||||
|
L
|
Excess Distribution Certificateholder
|
$
|
28,670.09
|
-
|
|||||
|
Waterfall Triggers
|
|||||
|
A
|
Student Loan Principal Outstanding
|
$
|
270,137,362.62
|
||
|
B
|
Interest to be Capitalized
|
$
|
2,853,886.75
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
992,722.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(992,722.00)
|
|
|
|
F
|
Total
|
$
|
272,991,249.37
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
242,196,380.63
|
||
|
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 2015-1 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025 |
|
VII.
|
2015-1 Distributions
|
Distribution Amounts
|
A2
|
B |
|
||||||
|
Cusip/Isin
|
63939FAB6
|
63939FAC4
|
||||||
|
Beginning Balance
|
$
|
244,319,272.12
|
$
|
26,700,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.60%
|
|
1.50%
|
|
||||
|
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
1 NEW YORK BUSINESS DAY
|
||||||
|
Accrual Period Begin
|
10/27/2025
|
10/27/2025
|
||||||
|
Accrual Period End
|
11/25/2025
|
11/25/2025
|
||||||
|
Daycount Fraction
|
0.08055556
|
0.08055556
|
||||||
|
Interest Rate*
|
4.89727%
|
|
5.79727%
|
|
||||
|
Accrued Interest Factor
|
0.003945023
|
0.004670023
|
||||||
|
Current Interest Due
|
$
|
963,845.16
|
$
|
124,689.62
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
963,845.16
|
$
|
124,689.62
|
||||
|
Interest Paid
|
$
|
963,845.16
|
$
|
124,689.62
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
2,122,891.49
|
|
-
|
||||
|
Ending Principal Balance
|
$
|
242,196,380.63
|
$
|
26,700,000.00
|
||||
|
Paydown Factor
|
0.003371274
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.384621853
|
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 2015-1 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025 |
|
VIII.
|
2015-1 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
271,019,272.12
|
|||
|
Adjusted Pool Balance
|
$
|
272,991,249.37
|
|||
|
Overcollateralization Amount
|
$
|
4,094,868.74
|
|||
|
Principal Distribution Amount
|
$
|
2,122,891.49
|
|||
|
Principal Distribution Amount Paid
|
$
|
2,122,891.49
|
|||
|
B
|
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
$
|
992,722.00
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
$
|
992,722.00
|
|||
|
Required Reserve Acct Balance
|
$
|
992,722.00
|
|||
|
Release to Collection Account
|
|
-
|
|||
|
Ending Reserve Account Balance
|
$
|
992,722.00
|
|||
|
C
|
Floor Income Rebate Account
|
||||
|
Beginning Period Balance
|
$
|
104,102.77
|
|||
|
Deposits for the Period
|
$
|
66,018.70
|
|||
|
Release to Collection Account
|
-
|
||||
|
Ending Balance
|
$
|
170,121.47
|
|||
|
D
|
Supplemental Purchase Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Supplemental Loan Purchases
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
Page 9 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025 |
Navient Student Loan Trust 2015 1 published this content on December 08, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on December 08, 2025 at 14:53 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]