Results
SLM Student Loan Trust 2012-7
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 2012-7
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 2012-7 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
11/08/2012
|
12/31/2025
|
01/31/2026
|
||||||||
|
Principal Balance
|
$
|
1,189,615,212.08
|
$
|
230,277,715.00
|
$
|
228,547,746.46
|
||||||
|
Interest to be Capitalized Balance
|
29,184,856.28
|
3,313,556.71
|
3,257,079.30
|
|||||||||
|
Pool Balance
|
$
|
1,218,800,068.36
|
$
|
233,591,271.71
|
$
|
231,804,825.76
|
||||||
|
Capitalized Interest Account Balance
|
$
|
10,000,000.00
|
-
|
-
|
||||||||
|
Specified Reserve Account Balance
|
3,121,961.00
|
- N/A -
|
- N/A -
|
|||||||||
|
Adjusted Pool (1)
|
$
|
1,231,922,029.36
|
$
|
233,591,271.71
|
$
|
231,804,825.76
|
||||||
|
Weighted Average Coupon (WAC)
|
6.76%
|
|
6.89%
|
|
6.89%
|
|
||||||
|
Number of Loans
|
283,078
|
32,996
|
32,594
|
|||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
332,404.38
|
$
|
334,717.51
|
||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
233,258,867.33 |
$
|
231,470,108.25 |
||||||||
|
Pool Factor
|
0.187054915
|
0.185624367 |
||||||||||
|
Since Issued Constant Prepayment Rate
|
(76.55)%
|
|
(76.17)%
|
|
||||||||
| (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
|
78447KAC6
|
$
|
193,755,358.99
|
$
|
191,986,777.50
|
|||||
| B |
78447KAD4
|
$
|
37,500,000.00
|
$
|
37,500,000.00
|
|||||
|
C
|
Account Balances
|
01/26/2026
|
02/25/2026
|
||||||
|
Reserve Account Balance
|
$
|
1,248,784.00
|
$
|
1,248,784.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
249,700.57
|
$
|
433,698.52
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
|
D
|
Asset / Liability
|
01/26/2026
|
02/25/2026
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
233,591,271.71
|
$
|
231,804,825.76
|
|||||
|
Total Notes
|
$
|
231,255,358.99
|
$
|
229,486,777.50
|
|||||
|
Difference
|
$
|
2,335,912.72
|
$
|
2,318,048.26
|
|||||
|
Parity Ratio
|
1.01010
|
1.01010
|
|||||||
|
Page 2 of 9
|
Trust 2012-7 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
|
543,529.38
|
||||
|
Guarantor Principal
|
1,514,893.92
|
||||
|
Consolidation Activity Principal
|
529,398.27
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
(30.58)
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
2,587,790.99
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
288,212.71
|
||||
|
Guarantor Interest
|
78,168.77
|
||||
|
Consolidation Activity Interest
|
24,156.62
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
(6.58)
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
18,547.59
|
||||
|
Total Interest Receipts
|
$
|
409,079.11
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
| D |
Investment Income
|
$
|
15,846.72
|
||
|
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
|
$
|
(183,997.95)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
2,828,718.87
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(857,822.45)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
36,087.93
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
-
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
III.
|
2012-7 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
|
6.73%
|
|
55
|
$
|
263,376.42
|
0.115%
|
|
6.73%
|
|
57
|
$
|
272,876.42
|
0.118%
|
|
||||||||||||
|
|
GRACE
|
6.80%
|
|
10
|
$
|
60,000.00
|
0.026%
|
|
6.80%
|
|
8
|
$
|
50,500.00
|
0.022%
|
|
||||||||||||
|
|
DEFERMENT
|
6.72%
|
|
2,005
|
$
|
12,828,067.60
|
5.613%
|
|
6.74%
|
|
2,040
|
$
|
13,153,157.05
|
5.712%
|
|
||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.89%
|
|
21,178
|
$
|
138,545,174.06
|
60.620%
|
|
6.89%
|
|
21,026
|
$
|
134,279,308.35
|
58.312%
|
|
||||||||||||
|
|
31-60 DAYS DELINQUENT
|
6.92%
|
|
1,059
|
$
|
8,383,666.45
|
3.668%
|
|
6.91%
|
|
1,301
|
$
|
10,449,588.00
|
4.538%
|
|
||||||||||||
|
|
61-90 DAYS DELINQUENT
|
6.88%
|
|
841
|
$
|
6,939,696.12
|
3.036%
|
|
6.90%
|
|
833
|
$
|
7,335,334.37
|
3.185%
|
|
||||||||||||
|
|
91-120 DAYS DELINQUENT
|
6.95%
|
|
537
|
$
|
4,819,757.10
|
2.109%
|
|
6.81%
|
|
632
|
$
|
5,175,283.61
|
2.247%
|
|
||||||||||||
|
|
> 120 DAYS DELINQUENT
|
6.90%
|
|
1,709
|
$
|
14,590,851.27
|
6.384%
|
|
6.94%
|
|
2,074
|
$
|
17,522,721.38
|
7.609%
|
|
||||||||||||
|
|
FORBEARANCE
|
6.90%
|
|
4,519
|
$
|
36,564,416.58
|
15.999%
|
|
6.91%
|
|
4,544
|
$
|
38,233,204.39
|
16.603%
|
|
||||||||||||
|
|
CLAIMS IN PROCESS
|
6.95%
|
|
681
|
$
|
5,552,740.86
|
2.430%
|
|
6.96%
|
|
481
|
$
|
3,805,741.43
|
1.653%
|
|
||||||||||||
|
TOTAL
|
32,594
|
$
|
228,547,746.46
|
100.00%
|
|
32,996
|
$
|
230,277,715.00
|
100.00%
|
|
|||||||||||||||||
|
*
|
Percentages may not total 100% due to rounding
|
|
Page 4 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
IV.
|
2012-7 Portfolio Characteristics (cont'd)
|
|
01/31/2026
|
12/31/2025
|
|||||||
|
Pool Balance
|
$
|
231,804,825.76
|
$
|
233,591,271.71
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
11,891,472.19
|
$
|
11,892,102.95
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
3,257,079.30
|
$
|
3,313,556.71
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,349,954.73
|
$
|
1,474,651.43
|
||||
|
Total # Loans
|
32,594
|
32,996
|
||||||
|
Total # Borrowers
|
14,655
|
14,850
|
||||||
|
Weighted Average Coupon
|
6.89%
|
|
6.89%
|
|
||||
|
Weighted Average Remaining Term
|
200.72
|
199.81
|
||||||
|
Non-Reimbursable Losses
|
$
|
36,087.93
|
$
|
56,494.62
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
7,551,797.18
|
$
|
7,515,709.25
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-76.17%
|
|
-76.55%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
|
-
|
-
|
|||||
|
Cumulative Rejected Claim Repurchases
|
$
|
364,278.81
|
$
|
364,278.81
|
||||
|
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
|
$
|
894,107.32
|
$
|
847,072.58
|
||||
|
Borrower Interest Accrued
|
$
|
1,283,562.33
|
$
|
1,292,683.87
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
49,034.20
|
$
|
50,391.21
|
||||
|
Special Allowance Payments Accrued
|
$
|
35,119.11
|
$
|
34,238.49
|
||||
|
Page 5 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
V.
|
2012-7 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|||||||||||
|
- GSL (1) - Subsidized
|
6.77%
|
17,253
|
86,911,036.34
|
38.028%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.78%
|
14,639
|
126,792,541.35
|
55.477%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.48%
|
701
|
14,837,010.21
|
6.492%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.19%
|
1
|
7,158.56
|
0.003%
|
|
|||||||||||
|
- Consolidation Loans
|
0.00%
|
0
|
-
|
0.000%
|
|
|||||||||||
|
Total
|
6.89%
|
32,594
|
$
|
228,547,746.46
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|||||||||||
|
- Four Year
|
6.90%
|
27,226
|
199,677,025.93
|
87.368%
|
|
|||||||||||
|
- Two Year
|
6.82%
|
4,325
|
23,208,956.52
|
10.155%
|
|
|||||||||||
|
- Technical
|
6.83%
|
1,021
|
5,494,992.24
|
2.404%
|
|
|||||||||||
|
- Other
|
6.79%
|
22
|
166,771.77
|
0.073%
|
|
|||||||||||
|
Total
|
6.89%
|
32,594
|
$
|
228,547,746.46
|
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 2012-7 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
VI.
|
2012-7 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
|||||||
|
Total Available Funds
|
$
|
2,828,718.87
|
||||||
|
A |
Trustee Fees |
|
- |
$ |
2,828,718.87
|
|||
|
B
|
Primary Servicing Fee
|
$
|
77,170.87
|
$
|
2,751,548.00
|
|||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
2,744,881.00
|
|||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
720,408.26
|
$
|
2,024,472.74
|
|||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
175,367.50
|
$
|
1,849,105.24
|
|||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
1,849,105.24
|
||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
1,768,581.49
|
$ |
80,523.75
|
|||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$ |
80,523.75
|
||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
$ |
80,523.75
|
||||
|
J
|
Carryover Servicing Fee
|
-
|
$ |
80,523.75
|
||||
|
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$ |
80,523.75
|
||||
|
L
|
Excess Distribution Certificateholder
|
$ |
80,523.75
|
-
|
||||
|
Waterfall Triggers
|
|||||
|
A
|
Student Loan Principal Outstanding
|
$
|
228,547,746.46
|
||
|
B
|
Interest to be Capitalized
|
$
|
3,257,079.30
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
1,248,784.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(1,248,784.00)
|
|
|
|
F
|
Total
|
$
|
231,804,825.76
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
191,986,777.50
|
||
|
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 2012-7 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
VII.
|
2012-7 Distributions
|
Distribution Amounts
|
A3
|
B |
|
||||||
|
Cusip/Isin
|
78447KAC6
|
78447KAD4
|
||||||
|
Beginning Balance
|
$
|
193,755,358.99
|
$
|
37,500,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.65%
|
|
1.80%
|
|
||||
|
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%
|
|
5.61176%
|
|
||||
|
Accrued Interest Factor
|
0.003718133
|
0.004676467
|
||||||
|
Current Interest Due
|
$
|
720,408.26
|
$
|
175,367.50
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
720,408.26
|
$
|
175,367.50
|
||||
|
Interest Paid
|
$
|
720,408.26
|
$
|
175,367.50
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
1,768,581.49
|
-
|
|||||
|
Ending Principal Balance
|
$
|
191,986,777.50
|
$
|
37,500,000.00
|
||||
|
Paydown Factor
|
0.003075794
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.333890048
|
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 2012-7 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
|
VIII.
|
2012-7 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
231,255,358.99
|
|||
|
Adjusted Pool Balance
|
$
|
231,804,825.76
|
|||
|
Overcollateralization Amount
|
$
|
2,318,048.26
|
|||
|
Principal Distribution Amount
|
$
|
1,768,581.49
|
|||
|
Principal Distribution Amount Paid
|
$
|
1,768,581.49
|
|||
| B |
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
$
|
1,248,784.00
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
$
|
1,248,784.00
|
|||
|
Required Reserve Acct Balance
|
$
|
1,248,784.00
|
|||
|
Release to Collection Account
|
|
-
|
|||
|
Ending Reserve Account Balance
|
$
|
1,248,784.00
|
|||
| C |
Capitalized Interest Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
| D |
Floor Income Rebate Account
|
||||
|
Beginning Period Balance
|
$
|
249,700.57
|
|||
|
Deposits for the Period
|
$
|
183,997.95
|
|||
|
Release to Collection Account
|
|
-
|
|
||
|
Ending Balance
|
$
|
433,698.52
|
|||
| E |
Supplemental Purchase Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Supplemental Loan Purchases
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
Page 9 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
SLM Student Loan Trust 2012-7 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]