Navient Student Loan Trust 2014 2
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 2014-2
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 2014-2 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
| I. |
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
08/14/2014
|
12/31/2025
|
01/31/2026
|
|||||||||
|
|
Principal Balance
|
$
|
257,208,313.46
|
$
|
71,014,657.40
|
$
|
70,623,203.88
|
||||||
|
|
Interest to be Capitalized Balance
|
1,145,436.55
|
518,495.20
|
514,218.59
|
|||||||||
|
|
Pool Balance
|
$
|
258,353,750.01
|
$
|
71,533,152.60
|
$
|
71,137,422.47
|
||||||
|
|
Specified Reserve Account Balance
|
5,924,254.00
|
- N/A -
|
- N/A -
|
|||||||||
|
|
Adjusted Pool (1)
|
$
|
264,278,004.01
|
$
|
71,533,152.60
|
$
|
71,137,422.47
|
||||||
|
|
Weighted Average Coupon (WAC)
|
5.68% |
|
5.75% |
|
5.75%
|
|
||||||
|
|
Number of Loans
|
10,746 |
2,909 |
2,885
|
|||||||||
|
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
5,440,922.34
|
$
|
5,378,320.36
|
||||||||
|
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
66,092,230.26
|
$
|
65,759,102.11
|
||||||||
|
|
Pool Factor
|
0.271679077
|
0.270176115
|
||||||||||
|
|
Since Issued Constant Prepayment Rate
|
6.42%
|
|
6.36%
|
|
||||||||
| (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
|
|||||||
| A |
|
63938GAA7
|
$
|
61,331,217.12
|
$
|
61,006,724.56
|
|||||
| B |
|
63938GAB5
|
$
|
7,000,000.00
|
$
|
7,000,000.00
|
|||||
|
C
|
Account Balances
|
01/26/2026
|
02/25/2026
|
||||||
|
|
Reserve Account Balance
|
$
|
263,300.00
|
$
|
263,300.00
|
||||
|
|
Capitalized Interest Account Balance
|
-
|
-
|
||||||
|
|
Floor Income Rebate Account
|
$
|
21,036.33
|
$
|
36,205.62
|
||||
|
|
Supplemental Loan Purchase Account
|
-
|
-
|
||||||
|
D
|
Asset / Liability
|
01/26/2026
|
02/25/2026
|
||||||
|
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
71,533,152.60
|
$
|
71,137,422.47
|
||||
|
|
Total Notes
|
$
|
68,331,217.12
|
$
|
68,006,724.56
|
||||
|
|
Difference
|
$
|
3,201,935.48
|
$
|
3,130,697.91
|
||||
|
|
Parity Ratio
|
1.04686
|
1.04604
|
||||||
|
Page 2 of 9
|
Trust 2014-2 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
|
309,963.67
|
||||
|
Guarantor Principal
|
155,047.77
|
||||
|
Consolidation Activity Principal
|
74,398.81
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
539,410.25
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
121,093.76
|
||||
|
Guarantor Interest
|
7,838.54
|
||||
|
Consolidation Activity Interest
|
1,186.52
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
1,587.52
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
2,791.91
|
||||
|
Total Interest Receipts
|
$
|
134,498.25
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
|
D
|
Investment Income
|
$
|
4,139.58
|
||
|
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
|
$
|
(64,225.81)
|
|
||
|
Floor Income Rebate Fees to Dept. of Education
|
|
-
|
|||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(15,169.29)
|
|
||
|
M |
AVAILABLE FUNDS
|
$
|
598,652.98
|
||
|
N |
Non-Cash Principal Activity During Collection Period
|
$
|
(147,956.73)
|
|
|
|
O |
Non-Reimbursable Losses During Collection Period
|
$
|
2,192.44
|
||
|
P |
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
-
|
||
|
Q |
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2014-2 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
| III. |
2014-2 Portfolio Characteristics
|
|
01/31/2026
|
12/31/2025
|
||||||||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
#
Loans
|
Principal
|
%
of Principal
|
Wtd Avg
Coupon
|
#
Loans
|
Principal
|
%
of Principal
|
||||||||||||||||||||||||||
|
INTERIM:
|
DEFERMENT
|
5.90%
|
|
65
|
$
|
2,586,761.95
|
3.663%
|
|
5.94%
|
|
61
|
$
|
2,395,900.37
|
3.374%
|
|
||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
5.56%
|
|
2,347
|
$
|
47,734,793.03
|
67.591%
|
|
5.52%
|
|
2,359
|
$
|
47,234,944.62
|
66.514%
|
|
||||||||||||||||||
|
|
31-60 DAYS DELINQUENT
|
5.60%
|
|
68
|
$
|
2,342,504.31
|
3.317%
|
|
6.08%
|
|
100
|
$
|
3,865,573.80
|
5.443%
|
|
||||||||||||||||||
|
|
61-90 DAYS DELINQUENT
|
5.40%
|
|
56
|
$
|
1,882,815.02
|
2.666%
|
|
6.13%
|
|
48
|
$
|
1,675,210.59
|
2.359%
|
|
||||||||||||||||||
|
|
91-120 DAYS DELINQUENT
|
6.66%
|
|
21
|
$
|
805,830.80
|
1.141%
|
|
6.54%
|
|
35
|
$
|
1,744,451.29
|
2.456%
|
|
||||||||||||||||||
|
|
> 120 DAYS DELINQUENT
|
6.21%
|
|
87
|
$
|
3,505,808.30
|
4.964%
|
|
6.18%
|
|
80
|
$
|
3,017,222.63
|
4.249%
|
|
||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||
|
|
FORBEARANCE
|
6.20%
|
|
215
|
$
|
9,644,176.61
|
13.656%
|
|
6.33%
|
|
209
|
$
|
10,319,942.55
|
14.532%
|
|
||||||||||||||||||
|
|
CLAIMS IN PROCESS
|
7.24%
|
|
26
|
$
|
2,120,513.86
|
3.003%
|
|
5.60%
|
|
17
|
$
|
761,411.55
|
1.072%
|
|
||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||
|
TOTAL
|
|
2,885
|
$
|
70,623,203.88
|
100.00%
|
|
2,909
|
$
|
71,014,657.40
|
100.00%
|
|
||||||||||||||||||||||
* Percentages may not total 100% due to rounding
|
Page 4 of 9
|
Trust 2014-2 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
| IV. |
2014-2 Portfolio Characteristics (cont'd)
|
|
01/31/2026
|
12/31/2025
|
|||||||
|
Pool Balance
|
$
|
71,137,422.47
|
$
|
71,533,152.60
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
3,145,930.81
|
$
|
3,095,411.66
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
514,218.59
|
$
|
518,495.20
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
389,679.74
|
$
|
403,863.30
|
||||
|
Total # Loans
|
2,885
|
2,909
|
||||||
|
Total # Borrowers
|
1,635
|
1,648
|
||||||
|
Weighted Average Coupon
|
5.75%
|
|
5.75%
|
|
||||
|
Weighted Average Remaining Term
|
203.54
|
203.34
|
||||||
|
Non-Reimbursable Losses
|
$
|
2,192.44
|
$
|
6,456.04
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
1,195,807.55
|
$
|
1,193,615.11
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
6.36%
|
|
6.42%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
-
|
-
|
||||||
|
Cumulative Rejected Claim Repurchases
|
$
|
110,678.37
|
$
|
110,678.37
|
||||
|
Unpaid Primary Servicing Fees
|
-
|
-
|
||||||
|
Unpaid Administration Fees
|
-
|
-
|
||||||
|
Unpaid Carryover Servicing Fees
|
-
|
-
|
||||||
|
Note Principal Shortfall
|
$ |
70,486.10
|
$ |
17,056.39
|
||||
|
Note Interest Shortfall
|
-
|
-
|
||||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
150,106.05
|
$
|
160,053.90
|
||||
|
Borrower Interest Accrued
|
$
|
330,353.99
|
$
|
332,563.14
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
9,290.82
|
$
|
9,345.22
|
||||
|
Special Allowance Payments Accrued
|
$
|
77,685.39
|
$
|
83,648.26
|
||||
|
Page 5 of 9
|
Trust 2014-2 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
| V. |
2014-2 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
|
- GSL (1) - Subsidized
|
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
- GSL - Unsubsidized
|
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
- PLUS (2) Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
- SLS (3) Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
- Consolidation Loans
|
5.75%
|
|
2,885
|
70,623,203.88
|
100.000%
|
|
||||||||||
|
|
Total
|
5.75%
|
|
2,885
|
$
|
70,623,203.88
|
100.000%
|
|
|||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
|
- Four Year
|
9.00%
|
|
1
|
41,481.13
|
0.059%
|
|
||||||||||
|
|
- Two Year
|
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
- Technical
|
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
|
|
- Other
|
5.75%
|
|
2,884
|
70,581,722.75
|
99.941%
|
|
||||||||||
|
|
Total
|
5.75%
|
|
2,885
|
$
|
70,623,203.88
|
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 2014-2 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
| VI. |
2014-2 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
598,652.98
|
|||||||
|
A
|
Trustee Fees
|
|
-
|
$
|
598,652.98
|
||||
|
B
|
Primary Servicing Fee
|
$
|
8,981.60
|
$
|
589,671.38
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
583,004.38
|
||||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
227,526.55
|
$
|
355,477.83
|
||||
| E |
Class B Noteholders' Interest Distribution Amount
|
$
|
30,985.27
|
$
|
324,492.56
|
||||
| F |
Reserve Account Reinstatement
|
-
|
$
|
324,492.56
|
|||||
| G |
Class A Noteholders' Principal Distribution Amount
|
$
|
324,492.56
|
|
-
|
||||
| H |
Class B Noteholders' Principal Distribution Amount
|
-
|
|
-
|
|||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
|
-
|
|||||
| J |
Carryover Servicing Fee
|
-
|
|
-
|
|||||
| K |
Remaining Amounts to the Noteholders after the first auction date
|
-
|
|
-
|
|||||
| L |
Excess Distribution Certificateholder
|
|
-
|
-
|
|
||||
|
Waterfall Triggers
|
|||||
|
A
|
Student Loan Principal Outstanding
|
$
|
70,623,203.88
|
||
|
B
|
Interest to be Capitalized
|
$
|
514,218.59
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
263,300.00
|
||
| E |
Less: Specified Reserve Account Balance
|
$
|
(263,300.00)
|
|
|
| F |
Total
|
$
|
71,137,422.47
|
||
| G |
Class A Notes Outstanding (after application of available funds)
|
$
|
61,006,724.56
|
||
| 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 2014-2 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
| VII. |
2014-2 Distributions
|
Distribution Amounts
| A |
|
B |
|
|||||
|
Cusip/Isin
|
63938GAA7
|
63938GAB5
|
||||||
|
Beginning Balance
|
$
|
61,331,217.12
|
$
|
7,000,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.64%
|
|
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*
|
4.45176%
|
|
5.31176%
|
|
||||
|
Accrued Interest Factor
|
0.003709800
|
0.004426467
|
||||||
|
Current Interest Due
|
$
|
227,526.55
|
$
|
30,985.27
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
227,526.55
|
$
|
30,985.27
|
||||
|
Interest Paid
|
$
|
227,526.55
|
$
|
30,985.27
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
324,492.56
|
-
|
|||||
|
Ending Principal Balance
|
$
|
61,006,724.56
|
$
|
7,000,000.00
|
||||
|
Paydown Factor
|
0.001267549
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.238307518
|
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 2014-2 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
| VIII. |
2014-2 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
|
Notes Outstanding Principal Balance
|
$
|
68,331,217.12
|
||
|
|
Adjusted Pool Balance
|
$
|
71,137,422.47
|
||
|
|
Overcollateralization Amount
|
$
|
3,201,184.01
|
||
|
|
Principal Distribution Amount
|
$
|
394,978.66
|
||
|
|
Principal Distribution Amount Paid
|
$
|
324,492.56
|
||
|
|
|||||
|
B
|
Reserve Account Reconciliation
|
||||
|
|
Beginning Period Balance
|
$
|
263,300.00
|
||
|
|
Reserve Funds Utilized
|
0.00
|
|||
|
|
Reserve Funds Reinstated
|
0.00
|
|||
|
|
Balance Available
|
$
|
263,300.00
|
||
|
|
Required Reserve Acct Balance
|
$
|
263,300.00
|
||
|
|
Release to Collection Account
|
|
-
|
||
|
|
Ending Reserve Account Balance
|
$
|
263,300.00
|
||
|
|
|||||
|
C
|
Floor Income Rebate Account
|
||||
|
|
Beginning Period Balance
|
$
|
21,036.33
|
||
|
|
Deposits for the Period
|
$
|
15,169.29
|
||
|
|
Release to Collection Account
|
-
|
|||
|
|
Ending Balance
|
$
|
36,205.62
|
||
|
|
|||||
|
D
|
Supplemental Purchase Account
|
||||
|
|
Beginning Period Balance
|
-
|
|||
|
|
Supplemental Loan Purchases
|
-
|
|||
|
|
Transfers to Collection Account
|
-
|
|||
|
|
Ending Balance
|
-
|
|||
|
Page 9 of 9
|
Trust 2014-2 Monthly Servicing Report: Collection Period 01/01/2026 - 01/31/2026, Distribution Date 02/25/2026
|
Navient Student Loan Trust 2014 2 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]