Page 1 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
I.
|
Deal Parameters
|
A |
Student Loan Portfolio Characteristics
|
04/15/2010
|
09/30/2022 |
10/31/2022
|
|||||||||
Principal Balance
|
$
|
1,169,871,248.94
|
$
|
168,864,498.49
|
$
|
165,457,567.01
|
|||||||
Interest to be Capitalized Balance
|
12,910,478.57
|
836,729.24
|
901,613.37
|
||||||||||
Pool Balance
|
$
|
1,182,781,727.51
|
$
|
169,701,227.73
|
$
|
166,359,180.38
|
|||||||
Capitalized Interest Account Balance
|
$
|
7,500,000.00
|
-
|
-
|
|||||||||
Specified Reserve Account Balance
|
3,028,129.00
|
- N/A -
|
- N/A -
|
||||||||||
Adjusted Pool (1)
|
$
|
1,193,309,856.51
|
$
|
169,701,227.73
|
$
|
166,359,180.38
|
|||||||
Weighted Average Coupon (WAC)
|
2.60%
|
|
3.75%
|
|
3.75%
|
|
|||||||
Number of Loans
|
482,706
|
48,506
|
47,491
|
||||||||||
Aggregate Outstanding Principal Balance - Tbill
|
$
|
33,878,708.55
|
$
|
33,134,102.67
|
|||||||||
Aggregate Outstanding Principal Balance - LIBOR
|
$
|
135,822,519.18
|
$
|
133,225,077.71
|
|||||||||
Pool Factor
|
0.140104039
|
0.137344870
|
|||||||||||
Since Issued Constant Prepayment Rate
|
(31.02)%
|
|
(31.19)%
|
|
(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
|
10/25/2022
|
11/25/2022
|
||||||
A |
78445XAA4
|
$
|
129,998,230.13
|
$
|
126,802,392.22
|
|||||
B |
78445XAB2
|
$
|
36,780,000.00
|
$
|
36,780,000.00
|
C |
Account Balances
|
10/25/2022
|
11/25/2022
|
||||||
Reserve Account Balance
|
$
|
1,211,252.00
|
$
|
1,211,252.00
|
|||||
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
Floor Income Rebate Account
|
$
|
33,941.79
|
$
|
43,899.83
|
|||||
Supplemental Loan Purchase Account
|
-
|
-
|
D |
Asset / Liability
|
10/25/2022
|
11/25/2022
|
||||||
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
169,701,227.73
|
$
|
166,359,180.38
|
|||||
Total Notes
|
$
|
166,778,230.13
|
$
|
163,582,392.22
|
|||||
Difference
|
$
|
2,922,997.60
|
$
|
2,776,788.16
|
|||||
Parity Ratio
|
1.01753
|
1.01697
|
Page 2 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
II.
|
Trust Activity 10/01/2022 through 10/31/2022
|
A
|
Student Loan Principal Receipts
|
||||
Borrower Principal
|
445,880.19
|
||||
Guarantor Principal
|
706,674.95
|
||||
Consolidation Activity Principal
|
2,529,684.55
|
||||
Seller Principal Reimbursement
|
499.52
|
||||
Servicer Principal Reimbursement
|
53.14
|
||||
Rejected Claim Repurchased Principal
|
3,453.69
|
||||
Other Principal Deposits
|
13,595.72
|
||||
Total Principal Receipts
|
$
|
3,699,841.76
|
|||
B
|
Student Loan Interest Receipts
|
||||
Borrower Interest
|
113,780.49
|
||||
Guarantor Interest
|
19,933.71
|
||||
Consolidation Activity Interest
|
36,827.36
|
||||
Special Allowance Payments
|
0.00
|
||||
Interest Subsidy Payments
|
0.00
|
||||
Seller Interest Reimbursement
|
17.32
|
||||
Servicer Interest Reimbursement
|
5,290.53
|
||||
Rejected Claim Repurchased Interest
|
103.49
|
||||
Other Interest Deposits
|
17,629.54
|
||||
Total Interest Receipts
|
$
|
193,582.44
|
|||
C
|
Reserves in Excess of Requirement
|
-
|
|||
D
|
Investment Income
|
$
|
10,910.41
|
||
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
|
$
|
(9,958.04)
|
|
||
M |
AVAILABLE FUNDS
|
$
|
3,894,376.57
|
||
N |
Non-Cash Principal Activity During Collection Period
|
$ | (292,910.28) | ||
O |
Non-Reimbursable Losses During Collection Period
|
$
|
12,245.93
|
||
P |
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
$
|
17,337.42
|
||
Q |
Aggregate Loan Substitutions
|
-
|
Page 3 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
III.
|
2010-1 Portfolio Characteristics
|
10/31/2022
|
09/30/2022
|
||||||||||||||||||||||||||||||||
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of Principal
|
||||||||||||||||||||||||||
INTERIM:
|
IN SCHOOL
|
3.57%
|
|
39
|
$
|
129,256.35
|
0.078%
|
|
3.58%
|
|
39
|
$
|
127,481.35
|
0.075%
|
|
||||||||||||||||||
GRACE
|
2.84%
|
|
2
|
$
|
8,250.00
|
0.005%
|
|
2.84%
|
|
2
|
$
|
10,025.00
|
0.006%
|
|
|||||||||||||||||||
DEFERMENT
|
3.14%
|
|
3,226
|
$
|
11,252,024.02
|
6.801%
|
|
3.11%
|
|
3,236
|
$
|
11,204,409.86
|
6.635%
|
|
|||||||||||||||||||
REPAYMENT:
|
CURRENT
|
3.77%
|
|
28,212
|
$
|
91,802,948.31
|
55.484%
|
|
3.77%
|
|
29,099
|
$
|
94,643,319.88
|
56.047%
|
|
||||||||||||||||||
31-60 DAYS DELINQUENT
|
3.84%
|
|
1,824
|
$
|
6,876,009.81
|
4.156%
|
|
3.84%
|
|
2,156
|
$
|
8,087,301.32
|
4.789%
|
|
|||||||||||||||||||
61-90 DAYS DELINQUENT
|
3.83%
|
|
1,280
|
$
|
4,916,158.85
|
2.971%
|
|
3.84%
|
|
1,453
|
$
|
5,991,810.27
|
3.548%
|
|
|||||||||||||||||||
91-120 DAYS DELINQUENT
|
3.92%
|
|
866
|
$
|
3,506,720.32
|
2.119%
|
|
3.84%
|
|
973
|
$
|
3,602,471.52
|
2.133%
|
|
|||||||||||||||||||
> 120 DAYS DELINQUENT
|
3.83%
|
|
3,242
|
$
|
12,691,255.73
|
7.670%
|
|
3.85%
|
|
3,158
|
$
|
12,619,316.68
|
7.473%
|
|
|||||||||||||||||||
FORBEARANCE
|
3.81%
|
|
8,316
|
$
|
32,322,385.84
|
19.535%
|
|
3.81%
|
|
7,964
|
$
|
30,875,048.32
|
18.284%
|
|
|||||||||||||||||||
CLAIMS IN PROCESS
|
4.04%
|
|
484
|
$
|
1,952,557.78
|
1.180%
|
|
3.93%
|
|
424
|
$
|
1,699,825.71
|
1.007%
|
|
|||||||||||||||||||
AGED CLAIMS REJECTED
|
0.00%
|
|
0
|
|
-
|
0.000%
|
|
3.44%
|
|
2
|
$
|
3,488.58
|
0.002%
|
|
|||||||||||||||||||
TOTAL
|
47,491
|
$
|
165,457,567.01
|
100.00%
|
|
48,506
|
$
|
168,864,498.49
|
100.00%
|
|
Page 4 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
IV.
|
2010-1 Portfolio Characteristics (cont’d)
|
10/31/2022
|
09/30/2022
|
|||||||
Pool Balance
|
$
|
166,359,180.38
|
$
|
169,701,227.73
|
||||
Outstanding Borrower Accrued Interest
|
$
|
4,193,609.04
|
$
|
4,167,117.03
|
||||
Borrower Accrued Interest to be Capitalized
|
$
|
901,613.37
|
$
|
836,729.24
|
||||
Borrower Accrued Interest >30 Days Delinquent
|
$
|
571,566.38
|
$
|
558,187.40
|
||||
Total # Loans
|
47,491
|
48,506
|
||||||
Total # Borrowers
|
18,195
|
18,584
|
||||||
Weighted Average Coupon
|
3.75%
|
|
3.75%
|
|
||||
Weighted Average Remaining Term
|
137.71
|
137.44
|
||||||
Non-Reimbursable Losses
|
$
|
12,245.93
|
$
|
6,148.01
|
||||
Cumulative Non-Reimbursable Losses
|
$
|
6,536,120.58
|
$
|
6,523,874.65
|
||||
Since Issued Constant Prepayment Rate (CPR)
|
-31.19 %
|
|
-31.02 %
|
|
||||
Loan Substitutions
|
-
|
-
|
||||||
Cumulative Loan Substitutions
|
-
|
-
|
||||||
Rejected Claim Repurchases
|
$ |
3,557.18
|
-
|
|||||
Cumulative Rejected Claim Repurchases
|
$
|
3,841,238.52
|
$
|
3,837,681.34
|
||||
Unpaid Primary Servicing Fees
|
-
|
-
|
||||||
Unpaid Administration Fees
|
-
|
-
|
||||||
Unpaid Carryover Servicing Fees
|
-
|
-
|
||||||
Note Principal Shortfall
|
$ |
223,211.84
|
$ |
77,002.40
|
||||
Note Interest Shortfall
|
-
|
-
|
||||||
Unpaid Interest Carryover
|
-
|
-
|
||||||
Non-Cash Principal Activity - Capitalized Interest
|
$
|
305,647.01
|
$
|
358,268.13
|
||||
Borrower Interest Accrued
|
$
|
504,353.46
|
$
|
496,638.55
|
||||
Interest Subsidy Payments Accrued
|
$
|
21,385.08
|
$
|
21,429.89
|
||||
Special Allowance Payments Accrued
|
$
|
335,746.89
|
$
|
258,238.14
|
Page 5 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
V.
|
2010-1 Portfolio Statistics by School and Program
|
A |
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
- GSL (1) - Subsidized
|
3.69%
|
|
28,430
|
80,173,659.30
|
48.456%
|
|
|||||||||||
- GSL - Unsubsidized
|
3.72%
|
|
18,307
|
78,780,877.48
|
47.614%
|
|
|||||||||||
- PLUS (2) Loans
|
4.60%
|
|
655
|
5,844,473.57
|
3.532%
|
|
|||||||||||
- SLS (3) Loans
|
6.01%
|
|
99
|
658,556.66
|
0.398%
|
|
|||||||||||
- Consolidation Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
Total
|
3.75%
|
|
47,491
|
$
|
165,457,567.01
|
100.000%
|
|
B |
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
- Four Year
|
3.76%
|
|
34,701
|
131,536,876.56
|
79.499%
|
|
|||||||||||
- Two Year
|
3.69%
|
|
10,849
|
28,559,419.35
|
17.261%
|
|
|||||||||||
- Technical
|
3.84%
|
|
1,771
|
4,900,013.83
|
2.961%
|
|
|||||||||||
- Other
|
3.58%
|
|
170
|
461,257.27
|
0.279%
|
|
|||||||||||
Total
|
3.75%
|
|
47,491
|
$
|
165,457,567.01
|
100.000%
|
|
(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 2010-1 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
VI.
|
2010-1 Waterfall for Distributions
|
Paid
|
Remaining
Funds Balance
|
||||||||
Total Available Funds
|
$
|
3,894,376.57
|
|||||||
A |
Trustee Fees |
- |
$ |
3,894,376.57 |
|||||
B
|
Primary Servicing Fee
|
$
|
103,649.83
|
$
|
3,790,726.74
|
||||
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
3,784,059.74
|
||||
D
|
Class A Noteholders’ Interest Distribution Amount
|
$
|
446,156.35
|
$
|
3,337,903.39
|
||||
E
|
Class B Noteholders’ Interest Distribution Amount
|
$
|
142,065.48
|
$
|
3,195,837.91
|
||||
F |
Class A Noteholders’ Principal Distribution Amount
|
$
|
3,195,837.91
|
-
|
|||||
G |
Class B Noteholders’ Principal Distribution Amount
|
-
|
-
|
||||||
H |
Reserve Account Reinstatement
|
-
|
-
|
||||||
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
|
$
|
165,457,567.01
|
|||
B
|
Interest to be Capitalized
|
$
|
901,613.37
|
|||
C
|
Capitalized Interest Account Balance
|
-
|
||||
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
1,211,252.00
|
|||
E |
Less: Specified Reserve Account Balance
|
$
|
(1,211,252.00)
|
|
||
F |
Total
|
$
|
166,359,180.38
|
|||
G |
Class A Notes Outstanding (after application of available funds)
|
$
|
126,802,392.22
|
|||
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 2010-1 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
VII.
|
2010-1 Distributions
|
A |
|
B |
|
|||||
Cusip/Isin
|
78445XAA4
|
78445XAB2
|
||||||
Beginning Balance
|
$
|
129,998,230.13
|
$
|
36,780,000.00
|
||||
Index
|
LIBOR
|
LIBOR
|
||||||
Spread/Fixed Rate
|
0.40%
|
|
0.90%
|
|
||||
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
1 NEW YORK BUSINESS DAY
|
||||||
Accrual Period Begin
|
10/25/2022
|
10/25/2022
|
||||||
Accrual Period End
|
11/25/2022
|
11/25/2022
|
||||||
Daycount Fraction
|
0.08611111
|
0.08611111
|
||||||
Interest Rate*
|
3.98557%
|
|
4.48557%
|
|
||||
Accrued Interest Factor
|
0.003432019
|
0.003862574
|
||||||
Current Interest Due
|
$
|
446,156.35
|
$
|
142,065.48
|
||||
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
Total Interest Due
|
$
|
446,156.35
|
$
|
142,065.48
|
||||
Interest Paid
|
$
|
446,156.35
|
$
|
142,065.48
|
||||
Interest Shortfall
|
-
|
-
|
||||||
Principal Paid
|
$
|
3,195,837.91
|
-
|
|||||
Ending Principal Balance
|
$
|
126,802,392.22
|
$
|
36,780,000.00
|
||||
Paydown Factor
|
0.002696910
|
0.000000000
|
||||||
Ending Balance Factor
|
0.107006238
|
1.000000000
|
Page 8 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
VIII.
|
2010-1 Reconciliations
|
A
|
Principal Distribution Reconciliation
|
||||
Notes Outstanding Principal Balance
|
$
|
166,778,230.13
|
|||
Adjusted Pool Balance
|
$
|
166,359,180.38
|
|||
Overcollateralization Amount
|
$
|
3,000,000.00
|
|||
Principal Distribution Amount
|
$
|
3,419,049.75
|
|||
Principal Distribution Amount Paid
|
$
|
3,195,837.91
|
|||
B |
Reserve Account Reconciliation
|
||||
Beginning Period Balance
|
$
|
1,211,252.00
|
|||
Reserve Funds Utilized
|
0.00
|
||||
Reserve Funds Reinstated
|
0.00
|
||||
Balance Available
|
$
|
1,211,252.00
|
|||
Required Reserve Acct Balance
|
$
|
1,211,252.00
|
|||
Release to Collection Account
|
-
|
||||
Ending Reserve Account Balance
|
$
|
1,211,252.00
|
|||
C |
Capitalized Interest Account
|
||||
Beginning Period Balance
|
-
|
||||
Transfers to Collection Account
|
-
|
||||
Ending Balance
|
-
|
||||
D |
Floor Income Rebate Account
|
||||
Beginning Period Balance
|
$
|
33,941.79
|
|||
Deposits for the Period
|
$
|
9,958.04
|
|||
Release to Collection Account
|
-
|
|
|||
Ending Balance
|
$
|
43,899.83
|
|||
E |
Supplemental Purchase Account
|
||||
Beginning Period Balance
|
-
|
||||
Supplemental Loan Purchases
|
-
|
||||
Transfers to Collection Account
|
-
|
||||
Ending Balance
|
-
|
Page 9 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|