SLM Student Loan Trust 2012-5

03/10/2026 | Press release | Distributed by Public on 03/10/2026 07:52

Asset-Backed Issuer Distribution Report (Form 10-D)


SLM Student Loan Trust 2012-5

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

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 2012-5 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
I.
Deal Parameters

A
Student Loan Portfolio Characteristics
07/19/2012
12/31/2025
01/31/2026

Principal Balance
$
1,137,585,474.26
$
234,389,096.22
$
233,119,827.84

Interest to be Capitalized Balance
26,114,209.92
2,683,648.44
2,725,385.58

Pool Balance
$
1,163,699,684.18
$
237,072,744.66
$
235,845,213.42

Capitalized Interest Account Balance
$
10,000,000.00
-
-

Specified Reserve Account Balance
3,125,116.00
- N/A -
- N/A -

Adjusted Pool(1)
$
1,176,824,800.18
$
237,072,744.66
$
235,845,213.42

Weighted Average Coupon (WAC)
6.67%

6.87%

6.87%


Number of Loans
274,625
34,119
33,729

Aggregate Outstanding Principal Balance - Tbill
-
-

Aggregate Outstanding Principal Balance - SOFR
$
237,072,744.66
$
235,845,213.42

Pool Factor
0.189651073
0.188669085

Since Issued Constant Prepayment Rate
(81.51)%

(83.13)%


(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
A3
78447EAC0
$
197,902,017.21
$
196,686,761.29
B
78447EAD8
$
36,800,000.00
$
36,800,000.00

C
Account Balances
01/26/2026
02/25/2026

Reserve Account Balance
$
1,250,046.00
$
1,250,046.00

Capitalized Interest Account Balance
-
-

Floor Income Rebate Account
$
266,230.85
$
460,069.71

Supplemental Loan Purchase Account
-
-

D
Asset / Liability
01/26/2026
02/25/2026

Adjusted Pool Balance + Supplemental Loan Purchase
$
237,072,744.66
$
235,845,213.42

Total Notes
$
234,702,017.21
$
233,486,761.29

Difference
$
2,370,727.45
$
2,358,452.13

Parity Ratio
1.01010
1.01010

Page 2 of 9
Trust 2012-5 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
517,217.11
Guarantor Principal
1,018,254.95
Consolidation Activity Principal
698,266.65
Seller Principal Reimbursement
-
Servicer Principal Reimbursement
-
Rejected Claim Repurchased Principal
-
Other Principal Deposits
-
Total Principal Receipts
$
2,233,738.71
B
Student Loan Interest Receipts
Borrower Interest
281,169.01
Guarantor Interest
52,786.14
Consolidation Activity Interest
10,537.44
Special Allowance Payments
0.00
Interest Subsidy Payments
0.00
Seller Interest Reimbursement
0.00
Servicer Interest Reimbursement
7.30
Rejected Claim Repurchased Interest
0.00
Other Interest Deposits
21,301.61
Total Interest Receipts
$
365,801.50
C
Reserves in Excess of Requirement

-
D
Investment Income
$
17,981.16
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
$
(193,838.86)

M
AVAILABLE FUNDS
$
2,423,682.51
N
Non-Cash Principal Activity During Collection Period
$
(964,470.33)

O
Non-Reimbursable Losses During Collection Period
$
20,752.25
P
Aggregate Purchased Amounts by the Depositor, Servicer or Seller

-
Q
Aggregate Loan Substitutions
-

Page 3 of 9
Trust 2012-5 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
III.
2012-5 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
6.80%

5
$
27,688.00
0.012%

6.80%

5
$
27,688.00
0.012%


GRACE
6.80%

2
$
7,500.00
0.003%

6.80%

2
$
7,500.00
0.003%


DEFERMENT
6.76%

2,044
$
13,959,969.67
5.988%

6.77%

2,062
$
14,106,674.72
6.018%

REPAYMENT:
CURRENT
6.88%

22,073
$
140,252,941.08
60.163%

6.87%

22,228
$
139,955,953.44
59.711%


31-60 DAYS DELINQUENT
6.89%

1,203
$
9,796,993.52
4.203%

6.91%

1,177
$
10,003,803.60
4.268%


61-90 DAYS DELINQUENT
6.92%

754
$
6,410,311.90
2.750%

6.87%

939
$
7,605,828.56
3.245%


91-120 DAYS DELINQUENT
6.83%

634
$
5,267,531.98
2.260%

6.87%

720
$
5,810,360.04
2.479%


> 120 DAYS DELINQUENT
6.85%

2,090
$
16,836,375.73
7.222%

6.85%

2,391
$
19,443,953.56
8.296%



FORBEARANCE
6.89%

4,311
$
35,725,831.32
15.325%

6.90%

4,195
$
34,454,352.42
14.700%


CLAIMS IN PROCESS
6.84%

613
$
4,834,684.64
2.074%

6.80%

400
$
2,972,981.88
1.268%

TOTAL
33,729
$
233,119,827.84
100.00%

34,119
$
234,389,096.22
100.00%


* Percentages may not total 100% due to rounding

Page 4 of 9
Trust 2012-5 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
IV.
 2012-5 Portfolio Characteristics (cont'd)

01/31/2026
12/31/2025
Pool Balance
$
235,845,213.42
$
237,072,744.66
Outstanding Borrower Accrued Interest
$
11,258,851.13
$
11,283,068.54
Borrower Accrued Interest to be Capitalized
$
2,725,385.58
$
2,683,648.44
Borrower Accrued Interest >30 Days Delinquent
$
1,391,998.30
$
1,510,919.55
Total # Loans
33,729
34,119
Total # Borrowers
16,027
16,208
Weighted Average Coupon
6.87%

6.87%

Weighted Average Remaining Term
199.07
198.01
Non-Reimbursable Losses
$
20,752.25
$
68,370.29
Cumulative Non-Reimbursable Losses
$
8,710,725.55
$
8,689,973.30
Since Issued Constant Prepayment Rate (CPR)
-83.13%

-81.51%

Loan Substitutions
-
-
Cumulative Loan Substitutions
-
-
Rejected Claim Repurchases
-
-
Cumulative Rejected Claim Repurchases
$
482,656.09
$
482,656.09
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
$
984,783.91
$
855,185.46
Borrower Interest Accrued
$
1,305,636.24
$
1,316,166.28
Interest Subsidy Payments Accrued
$
51,432.41
$
51,389.47
Special Allowance Payments Accrued
$
33,946.66
$
33,033.72

Page 5 of 9
Trust 2012-5 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
V.
 2012-5 Portfolio Statistics by School and Program

A
LOAN TYPE
Weighted
Average Coupon
# LOANS
$ AMOUNT
%*


- GSL (1) - Subsidized
6.77%

17,858
92,387,438.53
39.631%


- GSL - Unsubsidized
6.79%

15,135
128,012,926.50
54.913%


- PLUS (2) Loans
8.48%

736
12,719,462.81
5.456%


- SLS (3) Loans
0.00%

0
-
0.000%


- Consolidation Loans
0.00%

0
-
0.000%


Total
6.87%

33,729
$
233,119,827.84
100.000%


B
SCHOOL TYPE
Weighted
Average Coupon
# LOANS
$ AMOUNT
%*


- Four Year
6.88%

27,946
202,539,122.02
86.882%


- Two Year
6.82%

4,821
25,516,157.15
10.946%


- Technical
6.81%

917
4,875,158.02
2.091%


- Other
6.73%

45
189,390.65
0.081%


Total
6.87%

33,729
$
233,119,827.84
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 2012-5 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
VI.
 2012-5 Waterfall for Distributions

Paid
Remaining
Funds Balance
Total Available Funds
$
2,423,682.51
A
 Trustee Fees
 -
 $ 2,423,682.51
B
Primary Servicing Fee
$
85,088.36
$
2,338,594.15
C
Administration Fee
$
6,667.00
$
2,331,927.15
D
Class A Noteholders' Interest Distribution Amount
$
760,563.84
$
1,571,363.31
E
Class B Noteholders' Interest Distribution Amount
$
147,560.64
$
1,423,802.67
F
Reserve Account Reinstatement
-
$
1,423,802.67
G
Class A Noteholders' Principal Distribution Amount
$
1,215,255.92
$
208,546.75
H
Class B Noteholders' Principal Distribution Amount
-
$
208,546.75
I
Unpaid Expenses of The Trustees
-
$
208,546.75
J
Carryover Servicing Fee
-
$
208,546.75
K
Remaining Amounts to the Noteholders after the first auction date
-
$
208,546.75
L
Excess Distribution Certificateholder
$
208,546.75
$
(0.00)

Waterfall Triggers
A
Student Loan Principal Outstanding
$
233,119,827.84
B
Interest to be Capitalized
$
2,725,385.58
C
Capitalized Interest Account Balance
-
D
Reserve Account Balance (after any reinstatement)
$
1,250,046.00
E
Less: Specified Reserve Account Balance
$
(1,250,046.00)

F
Total
$
235,845,213.42
G
Class A Notes Outstanding (after application of available funds)
$
196,686,761.29
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 2012-5 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
VII.
 2012-5 Distributions

Distribution Amounts

A3
B

Cusip/Isin
78447EAC0
78447EAD8
Beginning Balance
$
197,902,017.21
$
36,800,000.00
Index
SOFR
SOFR
Spread/Fixed Rate
0.80%

1.00%

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*
4.61176%

4.81176%

Accrued Interest Factor
0.003843133
0.004009800
Current Interest Due
$
760,563.84
$
147,560.64
Interest Shortfall from Prior Period Plus Accrued Interest
-
-
Total Interest Due
$
760,563.84
$
147,560.64
Interest Paid
$
760,563.84
$
147,560.64
Interest Shortfall
-
-
Principal Paid
$
1,215,255.92
-
Ending Principal Balance
$
196,686,761.29
$
36,800,000.00
Paydown Factor
0.002113489
0.000000000
Ending Balance Factor
0.342063933
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 2012-5 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
VIII.
 2012-5 Reconciliations

A
Principal Distribution Reconciliation

Notes Outstanding Principal Balance
$
234,702,017.21

Adjusted Pool Balance
$
235,845,213.42

Overcollateralization Amount
$
2,358,452.13

Principal Distribution Amount
$
1,215,255.92

Principal Distribution Amount Paid
$
1,215,255.92
B
Reserve Account Reconciliation

Beginning Period Balance
$
1,250,046.00

Reserve Funds Utilized
0.00

Reserve Funds Reinstated
0.00

Balance Available
$
1,250,046.00

Required Reserve Acct Balance
$
1,250,046.00

Release to Collection Account
-

Ending Reserve Account Balance
$
1,250,046.00
C
Capitalized Interest Account

Beginning Period Balance
-

Transfers to Collection Account
-

Ending Balance
-
D
Floor Income Rebate Account

Beginning Period Balance
$
266,230.85

Deposits for the Period
$
193,838.86

Release to Collection Account

-


Ending Balance
$
460,069.71
E
Supplemental Purchase Account

Beginning Period Balance
-

Supplemental Loan Purchases
-

Transfers to Collection Account
-

Ending Balance
-


Page 9 of 9
Trust 2012-5 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
SLM Student Loan Trust 2012-5 published this content on March 10, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on March 10, 2026 at 13:52 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]