Navient Student Loan Trust 2015-3
12/08/2025 | Press release | Distributed by Public on 12/08/2025 08:52
Asset-Backed Issuer Distribution Report (Form 10-D)
Navient Student Loan Trust 2015-3
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 2015-3 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025
|
|
I.
|
Deal Parameters
|
|
A |
Student Loan Portfolio Characteristics |
06/18/2015 |
09/30/2025 |
10/31/2025 | |||||||||
|
|
Principal Balance
|
$
|
731,924,193.58
|
$
|
211,408,899.16
|
$
|
210,223,197.69
|
||||||
|
Interest to be Capitalized Balance
|
5,723,713.00
|
2,008,436.49
|
2,096,727.48
|
||||||||||
|
Pool Balance
|
$
|
737,647,906.58
|
$
|
213,417,335.65
|
$
|
212,319,925.17
|
|||||||
|
Specified Reserve Account Balance
|
12,418,487.00
|
- N/A -
|
- N/A -
|
||||||||||
|
Adjusted Pool(1)
|
$
|
750,066,393.58
|
$
|
213,417,335.65
|
$
|
212,319,925.17
|
|||||||
|
Weighted Average Coupon (WAC)
|
5.90%
|
|
6.55%
|
|
6.56%
|
|
|||||||
|
Number of Loans
|
106,911
|
20,357
|
20,114
|
||||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
26,957,989.74
|
$
|
26,967,270.63
|
|||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
186,459,345.91
|
$
|
185,352,654.54
|
|||||||||
|
Pool Factor
|
0.283559995
|
0.282101905
|
|||||||||||
|
Since Issued Constant Prepayment Rate
|
(0.98)%
|
|
(1.02)%
|
|
|
(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
|
63939LAB3
|
$
|
190,359,796.54
|
$
|
189,135,126.29
|
|||||
|
B
|
63939LAC1
|
$
|
20,000,000.00
|
$
|
20,000,000.00
|
|||||
|
C |
Account Balances
|
|
10/27/2025
|
11/25/2025
|
|||||
|
Reserve Account Balance
|
|
$
|
752,636.00
|
$
|
752,636.00
|
||||
|
Capitalized Interest Account Balance
|
|
-
|
-
|
||||||
|
Floor Income Rebate Account
|
$
|
67,846.67
|
$
|
110,577.88
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
| D |
Asset / Liability
|
10/27/2025
|
11/25/2025
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
213,417,335.65
|
$
|
212,319,925.17
|
|||||
|
Total Notes
|
$
|
210,359,796.54
|
$
|
209,135,126.29
|
|||||
|
Difference
|
$
|
3,057,539.11
|
$
|
3,184,798.88
|
|||||
|
Parity Ratio
|
1.01453
|
1.01523
|
|||||||
|
Page 2 of 9
|
Trust 2015-3 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
|
583,441.90
|
||||
|
Guarantor Principal
|
853,268.91
|
||||
|
Consolidation Activity Principal
|
585,659.52
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
1.97
|
||||
|
Rejected Claim Repurchased Principal
|
- |
||||
|
Other Principal Deposits
|
- |
||||
|
Total Principal Receipts
|
$
|
2,022,372.30
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
257,722.78
|
||||
|
Guarantor Interest
|
56,288.16
|
||||
|
Consolidation Activity Interest
|
10,663.88
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
(438.95)
|
||||
|
Servicer Interest Reimbursement
|
3,662.06
|
|
|||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
14,897.64
|
||||
|
Total Interest Receipts
|
$
|
342,795.57
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
- |
||
|
D
|
Investment Income
|
$
|
12,173.23
|
||
|
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
|
$
|
(98,118.04)
|
|
||
|
Floor Income Rebate Fees to Dept. of Education
|
-
|
||||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(42,731.21)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
2,236,491.85
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$ |
(836,670.83)
|
||
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
16,596.25
|
||
|
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 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025
|
|
III.
|
2015-3 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
|
6.76%
|
|
9
|
$
|
54,023.00
|
0.026%
|
|
6.76%
|
|
9
|
$
|
54,023.00
|
0.026%
|
|
||||||||||||||||||
|
|
DEFERMENT |
6.38%
|
|
1,213
|
$
|
9,905,497.06
|
4.712%
|
|
6.33%
|
|
1,170
|
$
|
9,602,599.86
|
4.542%
|
|
||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.47%
|
|
12,909
|
$
|
122,883,678.12
|
58.454%
|
|
6.47%
|
|
13,144 |
$
|
125,691,917.70
|
59.454%
|
|
||||||||||||||||||
|
|
31-60 DAYS DELINQUENT
|
6.43%
|
|
784
|
$
|
9,897,859.81
|
4.708%
|
|
6.74%
|
|
756
|
$
|
11,186,613.69
|
5.291%
|
|
||||||||||||||||||
|
|
61-90 DAYS DELINQUENT
|
6.78%
|
|
446
|
$
|
6,873,401.43
|
3.270%
|
|
6.65%
|
|
501
|
$
|
6,005,311.10
|
2.841%
|
|
||||||||||||||||||
|
|
91-120 DAYS DELINQUENT
|
6.41%
|
|
324
|
$
|
4,375,333.25
|
2.081%
|
|
6.48%
|
|
341
|
$
|
5,180,094.36
|
2.450%
|
|
||||||||||||||||||
|
|
> 120 DAYS DELINQUENT
|
6.70%
|
|
1,299
|
$
|
16,460,513.78
|
7.830%
|
|
6.62%
|
|
1,432
|
$
|
17,965,486.86
|
8.498%
|
|
||||||||||||||||||
|
|
FORBEARANCE
|
6.78%
|
|
2,832
|
$
|
35,769,472.28
|
17.015%
|
|
6.83%
|
|
2,750
|
$
|
33,262,239.17
|
15.734%
|
|
||||||||||||||||||
|
|
CLAIMS IN PROCESS
|
6.91%
|
|
298
|
$
|
4,003,418.96
|
1.904%
|
|
6.49%
|
|
254 |
$
|
2,460,613.42
|
1.164%
|
|
||||||||||||||||||
|
TOTAL
|
20,114
|
$
|
210,223,197.69
|
100.00%
|
|
20,357
|
$
|
211,408,899.16
|
100.00%
|
|
|||||||||||||||||||||||
* Percentages may not total 100% due to rounding
|
Page 4 of 9
|
Trust 2015-3 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025
|
|
IV.
|
2015-3 Portfolio Characteristics (cont'd)
|
|
10/31/2025
|
09/30/2025
|
|||||||
|
Pool Balance
|
$
|
212,319,925.17
|
$
|
213,417,335.65
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
9,711,156.65
|
$
|
9,765,649.22
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
2,096,727.48
|
$
|
2,008,436.49
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,505,421.18
|
$
|
1,664,814.59
|
||||
|
Total # Loans
|
20,114
|
20,357
|
||||||
|
Total # Borrowers
|
8,713
|
8,817
|
||||||
|
Weighted Average Coupon
|
6.56%
|
|
6.55%
|
|
||||
|
Weighted Average Remaining Term
|
205.96
|
205.16
|
||||||
|
Non-Reimbursable Losses
|
$
|
16,596.25
|
$
|
21,799.94
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
4,056,577.15
|
$
|
4,039,980.90
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-1.02%
|
|
-0.98%
|
|
||||
|
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
|
-
|
$ |
143,720.92
|
|||||
|
Note Interest Shortfall
|
-
|
-
|
||||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
853,041.23
|
$
|
763,160.04
|
||||
|
Borrower Interest Accrued
|
$
|
1,126,830.64
|
$
|
1,097,714.43
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
39,711.75
|
$
|
36,898.13
|
||||
|
Special Allowance Payments Accrued
|
$
|
134,235.62
|
$
|
143,893.01
|
||||
|
Page 5 of 9
|
Trust 2015-3 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025
|
|
V.
|
2015-3 Portfolio Statistics by School and Program
|
| A |
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
- GSL (1) - Subsidized
|
6.69%
|
|
8,251
|
39,522,001.13
|
18.800%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.77%
|
|
6,933
|
54,515,919.85
|
25.932%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.43%
|
|
288
|
6,515,251.70
|
3.099%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.29%
|
|
15
|
167,391.07
|
0.080%
|
|
|||||||||||
|
- Consolidation Loans
|
6.29%
|
|
4,627
|
109,502,633.94
|
52.089%
|
|
|||||||||||
|
Total
|
6.56%
|
|
20,114
|
$
|
210,223,197.69
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
|
Weighted
Average Coupon
|
|
|
# LOANS
|
|
|
$ AMOUNT
|
|
|
|
%*
|
|
|||
|
- Four Year
|
6.85%
|
|
12,488
|
86,207,559.14
|
41.008%
|
|
|||||||||||
|
- Two Year
|
6.84%
|
|
2,310
|
11,281,134.50
|
5.366%
|
|
|||||||||||
|
- Technical
|
6.83%
|
|
672
|
3,237,074.04
|
1.540%
|
|
|||||||||||
|
- Other
|
6.29%
|
|
4,644
|
109,497,430.01
|
52.086%
|
|
|||||||||||
|
Total
|
6.56%
|
|
20,114
|
$
|
210,223,197.69
|
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 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025
|
|
VI.
|
2015-3 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
2,236,491.85
|
|||||||
|
A
|
Trustee Fees
|
|
-
|
$
|
2,236,491.85
|
||||
|
B
|
Primary Servicing Fee
|
$
|
42,311.28
|
$
|
2,194,180.57
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
2,187,513.57
|
||||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
758,641.06
|
$
|
1,428,872.51
|
||||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
93,400.46
|
$
|
1,335,472.05
|
||||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
1,335,472.05
|
|||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
1,224,670.25
|
$
|
110,801.80
|
||||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$
|
110,801.80
|
|||||
|
I
|
Class A Noteholders' Accelerated Principal Distribution Amount
|
-
|
$
|
110,801.80
|
|||||
|
J
|
Class B Noteholders' Accelerated Principal Distribution Amount
|
-
|
$
|
110,801.80
|
|||||
|
K
|
Unpaid Expenses of The Trustees
|
-
|
$
|
110,801.80
|
|||||
|
L
|
Carryover Servicing Fee
|
-
|
$
|
110,801.80
|
|||||
|
M
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$
|
110,801.80
|
|||||
|
N
|
Excess Distribution Certificateholder
|
$
|
110,801.80
|
-
|
|||||
|
Waterfall Triggers
|
|||||
|
A
|
Student Loan Principal Outstanding
|
$
|
210,223,197.69
|
||
|
B
|
Interest to be Capitalized
|
$
|
2,096,727.48
|
||
|
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
|
$
|
212,319,925.17
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
189,135,126.29
|
||
|
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 2015-3 Monthly Servicing Report: Collection Period 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025
|
|
VII.
|
2015-3 Distributions
|
Distribution Amounts
|
A2
|
B |
|
||||||
|
Cusip/Isin
|
63939LAB3
|
63939LAC1
|
||||||
|
Beginning Balance
|
$
|
190,359,796.54
|
$
|
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
|
10/27/2025
|
10/27/2025
|
||||||
|
Accrual Period End
|
11/25/2025
|
11/25/2025
|
||||||
|
Daycount Fraction
|
0.08055556
|
0.08055556
|
||||||
|
Interest Rate*
|
4.94727%
|
|
5.79727%
|
|
||||
|
Accrued Interest Factor
|
0.003985301
|
0.004670023
|
||||||
|
Current Interest Due
|
$
|
758,641.06
|
$
|
93,400.46
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
758,641.06
|
$
|
93,400.46
|
||||
|
Interest Paid
|
$
|
758,641.06
|
$
|
93,400.46
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
1,224,670.25
|
-
|
|||||
|
Ending Principal Balance
|
$
|
189,135,126.29
|
$
|
20,000,000.00
|
||||
|
Paydown Factor
|
0.002519898
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.389166927
|
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 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025
|
|
VIII.
|
2015-3 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
210,359,796.54
|
|||
|
Adjusted Pool Balance
|
$
|
212,319,925.17
|
|||
|
Overcollateralization Amount
|
$
|
3,184,798.88
|
|||
|
Principal Distribution Amount
|
$
|
1,224,670.25
|
|||
|
Principal Distribution Amount Paid
|
$
|
1,224,670.25
|
|||
|
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
|
$
|
67,846.67
|
|||
|
Deposits for the Period
|
$
|
42,731.21
|
|||
|
Release to Collection Account
|
-
|
||||
|
Ending Balance
|
$
|
110,577.88
|
|||
|
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 10/01/2025 - 10/31/2025, Distribution Date 11/25/2025
|
Navient Student Loan Trust 2015-3 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]