Navient Student Loan Trust 2015-3
03/10/2026 | Press release | Distributed by Public on 03/10/2026 07:49
Asset-Backed Issuer Distribution Report (Form 10-D)
Navient Student Loan Trust 2015-3
Monthly Servicing Report
Distribution Date 02/25/2026
Collection Period 01/01/2026 - 01/31/2026
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 2015-3 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
I.
|
Deal Parameters
|
|
A |
Student Loan Portfolio Characteristics |
06/18/2015 |
12/31/2025 |
01/31/2026 | |||||||||
|
|
Principal Balance
|
$
|
731,924,193.58
|
$
|
204,769,035.65
|
$
|
203,599,991.94
|
||||||
|
Interest to be Capitalized Balance
|
5,723,713.00
|
1,955,197.12
|
2,061,461.59
|
||||||||||
|
Pool Balance
|
$
|
737,647,906.58
|
$
|
206,724,232.77
|
$
|
205,661,453.53
|
|||||||
|
Specified Reserve Account Balance
|
12,418,487.00
|
- N/A -
|
- N/A -
|
||||||||||
|
Adjusted Pool(1)
|
$
|
750,066,393.58
|
$
|
206,724,232.77
|
$
|
205,661,453.53
|
|||||||
|
Weighted Average Coupon (WAC)
|
5.90%
|
|
6.55%
|
|
6.55%
|
|
|||||||
|
Number of Loans
|
106,911
|
19,538
|
19,313
|
||||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
25,827,672.01
|
$
|
25,840,285.40
|
|||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
180,896,560.76
|
$
|
179,821,168.13
|
|||||||||
|
Pool Factor
|
0.274667109
|
0.273255032
|
|||||||||||
|
Since Issued Constant Prepayment Rate
|
(0.95)%
|
|
(0.99)%
|
|
|
(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 |
01/26/2026 | 02/25/2026 | ||||||
|
A2
|
63939LAB3
|
$
|
183,623,369.28
|
$
|
182,576,531.73
|
|||||
|
B
|
63939LAC1
|
$
|
20,000,000.00
|
$
|
20,000,000.00
|
|||||
| C |
Account Balances
|
01/26/2026
|
02/25/2026
|
||||||
|
Reserve Account Balance
|
$
|
752,636.00
|
$
|
752,636.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
116,373.84
|
$
|
201,398.89
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
| D |
Asset / Liability
|
01/26/2026
|
02/25/2026
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
206,724,232.77
|
$
|
205,661,453.53
|
|||||
|
Total Notes
|
$
|
203,623,369.28
|
$
|
202,576,531.73
|
|||||
|
Difference
|
$
|
3,100,863.49
|
$
|
3,084,921.80
|
|||||
|
Parity Ratio
|
1.01523
|
1.01523
|
|||||||
|
Page 2 of 9
|
Trust 2015-3 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
II.
|
Trust Activity 01/01/2026 through 01/31/2026
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
486,050.41
|
||||
|
Guarantor Principal
|
723,102.95
|
||||
|
Consolidation Activity Principal
|
575,597.73
|
||||
|
Seller Principal Reimbursement
|
476.66
|
||||
|
Servicer Principal Reimbursement
|
- | ||||
|
Rejected Claim Repurchased Principal
|
- | ||||
|
Other Principal Deposits
|
- | ||||
|
Total Principal Receipts
|
$
|
1,785,227.75
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
248,196.67
|
||||
|
Guarantor Interest
|
46,515.46
|
||||
|
Consolidation Activity Interest
|
21,132.56
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
7.53
|
||||
|
Servicer Interest Reimbursement
|
3,362.34
|
|
|||
|
Rejected Claim Repurchased Interest
|
0.00 | ||||
|
Other Interest Deposits
|
11,803.70
|
||||
|
Total Interest Receipts
|
$
|
331,018.26
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
|
D
|
Investment Income
|
$
|
16,098.47
|
||
|
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
|
$
|
(94,862.44)
|
|
||
|
Floor Income Rebate Fees to Dept. of Education
|
-
|
||||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(85,025.05)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
1,952,456.99
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$ |
(616,184.04)
|
||
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
15,289.07
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
- | ||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2015-3 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
III.
|
2015-3 Portfolio Characteristics
|
|
01/31/2026
|
12/31/2025
|
||||||||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
||||||||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.76%
|
|
9
|
$
|
54,023.00
|
0.027%
|
|
6.76%
|
|
9
|
$
|
54,023.00
|
0.026%
|
|
||||||||||||||||||
|
|
DEFERMENT
|
6.44%
|
|
1,135
|
$
|
9,253,324.09
|
4.545%
|
|
6.52%
|
|
1,184
|
$
|
9,515,598.98
|
4.647%
|
|
||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.53% |
|
12,751 |
$
|
125,224,575.78 |
61.505% |
|
6.52% |
|
12,787 |
$
|
125,410,299.13 |
61.245% |
|
||||||||||||||||||
|
|
31-60 DAYS DELINQUENT
|
6.48%
|
|
656 |
$
|
8,570,050.90
|
4.209%
|
|
6.39%
|
|
745
|
$
|
9,573,848.10
|
4.675%
|
|
||||||||||||||||||
|
|
61-90 DAYS DELINQUENT
|
6.48%
|
|
440
|
$
|
6,020,821.46
|
2.957%
|
|
6.72%
|
|
504
|
$
|
5,523,430.37
|
2.697%
|
|
||||||||||||||||||
|
|
91-120 DAYS DELINQUENT
|
6.55%
|
|
284 |
$
|
3,432,067.50
|
1.686%
|
|
6.67%
|
|
314
|
$
|
5,015,939.71 |
2.450%
|
|
||||||||||||||||||
|
|
> 120 DAYS DELINQUENT
|
6.62% |
|
1,055
|
$
|
13,567,518.90
|
6.664%
|
|
6.55%
|
|
1,218
|
$
|
14,790,614.05
|
7.223%
|
|
||||||||||||||||||
|
|
FORBEARANCE
|
6.61% |
|
2,625 |
$
|
32,531,637.51 |
15.978% |
|
6.61% |
|
2,548 |
$
|
32,403,356.03 |
15.824% |
|
||||||||||||||||||
|
|
CLAIMS IN PROCESS
|
6.87%
|
|
358
|
$
|
4,945,972.80
|
2.429%
|
|
7.14%
|
|
229
|
$
|
2,481,926.28
|
1.212%
|
|
||||||||||||||||||
|
TOTAL
|
|
19,313 |
$
|
203,599,991.94 | 100.00% |
|
19,538 |
$
|
204,769,035.65 |
100.00% |
|
||||||||||||||||||||||
* Percentages may not total 100% due to rounding
|
Page 4 of 9
|
Trust 2015-3 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
IV.
|
2015-3 Portfolio Characteristics (cont'd)
|
|
01/31/2026
|
12/31/2025
|
|||||||
|
Pool Balance
|
$
|
205,661,453.53
|
$
|
206,724,232.77
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
9,770,413.82
|
$
|
9,627,708.45
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
2,061,461.59
|
$
|
1,955,197.12
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,282,642.10
|
$
|
1,318,575.65
|
||||
|
Total # Loans
|
19,313
|
19,538
|
||||||
|
Total # Borrowers
|
8,347
|
8,447
|
||||||
|
Weighted Average Coupon
|
6.55%
|
|
6.55%
|
|
||||
|
Weighted Average Remaining Term
|
207.35
|
206.86
|
||||||
|
Non-Reimbursable Losses
|
$
|
15,289.07
|
$
|
72,687.19
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
4,175,236.14
|
$
|
4,159,947.07
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-0.99%
|
|
-0.95%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
|
- |
|
- |
||||
|
Cumulative Rejected Claim Repurchases
|
$
|
184,693.81
|
$
|
184,693.81
|
||||
|
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
|
$
|
631,709.18
|
$
|
726,331.61
|
||||
|
Borrower Interest Accrued
|
$
|
1,089,826.22
|
$
|
1,098,170.04
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
38,099.66
|
$
|
40,686.92
|
||||
|
Special Allowance Payments Accrued
|
$
|
107,344.71
|
$
|
113,070.28
|
||||
|
Page 5 of 9
|
Trust 2015-3 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
V.
|
2015-3 Portfolio Statistics by School and Program
|
| A |
LOAN TYPE
|
Weighted Average
Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
- GSL (1) - Subsidized
|
6.69%
|
|
7,910
|
38,338,218.98
|
18.830%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.76%
|
|
6,690
|
53,305,725.02
|
26.182%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.43%
|
|
271
|
6,077,887.26
|
2.985%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.28%
|
|
14
|
146,620.75
|
0.072%
|
|
|||||||||||
|
- Consolidation Loans
|
6.28%
|
|
4,428
|
105,731,539.93
|
51.931%
|
|
|||||||||||
|
Total
|
6.55%
|
|
19,313
|
$
|
203,599,991.94
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
|
Weighted Average
Coupon
|
|
|
# LOANS
|
|
|
$ AMOUNT
|
|
|
|
%*
|
|
|||
|
- Four Year
|
6.84%
|
|
12,015
|
83,831,337.13
|
41.175%
|
|
|||||||||||
|
- Two Year
|
6.83%
|
|
2,199
|
10,824,677.37
|
5.317%
|
|
|||||||||||
|
- Technical
|
6.82%
|
|
655
|
3,221,786.45
|
1.582%
|
|
|||||||||||
|
- Other
|
6.28%
|
|
4,444
|
105,722,190.99
|
51.926%
|
|
|||||||||||
|
Total
|
6.55%
|
|
19,313
|
$
|
203,599,991.94
|
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 2015-3 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
VI.
|
2015-3 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
1,952,456.99
|
|||||||
|
A
|
Trustee Fees
|
|
-
|
$
|
1,952,456.99
|
||||
|
B
|
Primary Servicing Fee
|
$
|
40,530.48
|
$
|
1,911,926.51
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
1,905,259.51
|
||||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
682,736.17
|
$
|
1,222,523.34
|
||||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
88,529.33
|
$
|
1,133,994.01
|
||||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
1,133,994.01
|
|||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
1,046,837.55
|
$
|
87,156.46
|
||||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$
|
87,156.46
|
|||||
|
I
|
Class A Noteholders' Accelerated Principal Distribution Amount
|
-
|
$
|
87,156.46
|
|||||
|
J
|
Class B Noteholders' Accelerated Principal Distribution Amount
|
-
|
$
|
87,156.46
|
|||||
|
K
|
Unpaid Expenses of The Trustees
|
-
|
$
|
87,156.46
|
|||||
|
L
|
Carryover Servicing Fee
|
-
|
$
|
87,156.46
|
|||||
|
M
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$
|
87,156.46
|
|||||
|
N
|
Excess Distribution Certificateholder
|
$
|
87,156.46
|
-
|
|||||
|
Waterfall Triggers
|
|||||
|
A
|
Student Loan Principal Outstanding
|
$
|
203,599,991.94
|
||
|
B
|
Interest to be Capitalized
|
$
|
2,061,461.59
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
752,636.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(752,636.00)
|
|
|
|
F
|
Total
|
$
|
205,661,453.53
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
182,576,531.73
|
||
|
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 2015-3 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
VII.
|
2015-3 Distributions
|
Distribution Amounts
|
A2
|
B |
|
||||||
|
Cusip/Isin
|
63939LAB3
|
63939LAC1
|
||||||
|
Beginning Balance
|
$
|
183,623,369.28
|
$
|
20,000,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.65%
|
|
1.50%
|
|
||||
|
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
1 NEW YORK BUSINESS DAY
|
||||||
|
Accrual Period Begin
|
1/26/2026
|
1/26/2026
|
||||||
|
Accrual Period End
|
2/25/2026
|
2/25/2026
|
||||||
|
Daycount Fraction
|
0.08333333
|
0.08333333
|
||||||
|
Interest Rate*
|
4.46176%
|
|
5.31176%
|
|
||||
|
Accrued Interest Factor
|
0.003718133
|
0.004426467
|
||||||
|
Current Interest Due
|
$
|
682,736.17
|
$
|
88,529.33
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
682,736.17
|
$
|
88,529.33
|
||||
|
Interest Paid
|
$
|
682,736.17
|
$
|
88,529.33
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
1,046,837.55
|
-
|
|||||
|
Ending Principal Balance
|
$
|
182,576,531.73
|
$
|
20,000,000.00
|
||||
|
Paydown Factor
|
0.002153987
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.375671876
|
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 2015-3 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
VIII.
|
2015-3 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
203,623,369.28
|
|||
|
Adjusted Pool Balance
|
$
|
205,661,453.53
|
|||
|
Overcollateralization Amount
|
$
|
3,084,921.80
|
|||
|
Principal Distribution Amount
|
$
|
1,046,837.55
|
|||
|
Principal Distribution Amount Paid
|
$
|
1,046,837.55
|
|||
|
B
|
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
$
|
752,636.00
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
$
|
752,636.00
|
|||
|
Required Reserve Acct Balance
|
$
|
752,636.00
|
|||
|
Release to Collection Account
|
|
- | |||
|
Ending Reserve Account Balance
|
$
|
752,636.00
|
|||
|
C
|
Floor Income Rebate Account
|
||||
|
Beginning Period Balance
|
$
|
116,373.84
|
|||
|
Deposits for the Period
|
$
|
85,025.05
|
|||
|
Release to Collection Account
|
-
|
||||
|
Ending Balance
|
$
|
201,398.89
|
|||
|
D
|
Supplemental Purchase Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Supplemental Loan Purchases
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
Page 9 of 9
|
Trust 2015-3 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
Navient Student Loan Trust 2015-3 published this content on March 10, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on March 10, 2026 at 13:49 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]