|
Page 1 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
08/26/2010
|
09/30/2022
|
10/31/2022
|
|||||||||
|
Principal Balance
|
$
|
679,589,352.80
|
$
|
172,004,566.33
|
$
|
169,786,860.62
|
|||||||
|
Interest to be Capitalized Balance
|
17,411,085.17
|
2,761,778.22
|
2,952,699.26
|
||||||||||
|
Pool Balance
|
$
|
697,000,437.97
|
$
|
174,766,344.55
|
$
|
172,739,559.88
|
|||||||
|
Capitalized Interest Account Balance
|
$
|
3,000,000.00
|
- | - | |||||||||
|
Specified Reserve Account Balance
|
3,768,055.00
|
- N/A -
|
- N/A -
|
||||||||||
|
Adjusted Pool (1)
|
$
|
703,768,492.97
|
$
|
174,766,344.55
|
$
|
172,739,559.88
|
|||||||
|
Weighted Average Coupon (WAC)
|
5.14%
|
|
5.95%
|
|
5.95%
|
|
|||||||
|
Number of Loans
|
193,647
|
28,470
|
28,001
|
||||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
33,906,858.24
|
$
|
33,402,717.09
|
|||||||||
|
Aggregate Outstanding Principal Balance - LIBOR
|
$
|
140,859,486.31
|
$
|
139,336,842.79
|
|||||||||
|
Pool Factor
|
0.237880588
|
0.235121861
|
|||||||||||
|
Since Issued Constant Prepayment Rate
|
(26.86)%
|
|
(27.49)%
|
|
|||||||||
| (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 |
78446AAA3
|
$
|
147,387,344.55
|
$
|
145,360,559.88
|
||||||
| B |
78446AAB1
|
$
|
22,379,000.00
|
$
|
22,379,000.00
|
||||||
|
C
|
Account Balances
|
10/25/2022
|
11/25/2022
|
||||||
|
Reserve Account Balance
|
$
|
1,130,416.00
|
$
|
1,130,416.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
441,144.55
|
$
|
579,646.77
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
|
D
|
Asset / Liability
|
10/25/2022
|
11/25/2022
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
174,766,344.55
|
$
|
172,739,559.88
|
|||||
|
Total Notes
|
$
|
169,766,344.55
|
$
|
167,739,559.88
|
|||||
|
Difference
|
$
|
5,000,000.00
|
$
|
5,000,000.00
|
|||||
|
Parity Ratio
|
1.02945
|
1.02981
|
|||||||
|
Page 2 of 9
|
Trust 2010-2 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
|
293,447.34
|
||||
|
Guarantor Principal
|
665,066.53
|
||||
|
Consolidation Activity Principal
|
1,846,543.61
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
454.89
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
2,805,512.37
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
136,161.11
|
||||
|
Guarantor Interest
|
23,425.68
|
||||
|
Consolidation Activity Interest
|
95,629.84
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
9.30
|
||||
|
Servicer Interest Reimbursement
|
1,425.14
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
13,334.68
|
||||
|
Total Interest Receipts
|
$
|
269,985.75
|
|||
|
C
|
Reserves in Excess of Requirement
|
-
|
|||
|
D
|
Investment Income
|
$
|
9,875.76
|
||
|
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
|
$
|
(138,502.22)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
2,946,871.66
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(587,806.66)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
15,797.47
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
-
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
|
III.
|
2010-2 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
|
4.53%
|
|
30
|
$
|
97,289.10
|
0.057%
|
|
4.33%
|
|
29
|
$
|
90,914.10
|
0.053%
|
|
||||||||||||||||||
| GRACE |
5.76%
|
|
5
|
$
|
30,041.11
|
0.018%
|
|
6.11%
|
|
6
|
$
|
36,416.11
|
0.021%
|
|
|||||||||||||||||||
|
DEFERMENT
|
5.78%
|
|
1,808
|
$
|
10,715,895.60
|
6.311%
|
|
5.82%
|
|
1,817
|
$
|
10,750,513.73
|
6.250%
|
|
|||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
5.86%
|
|
14,930
|
$
|
83,790,657.44
|
49.350%
|
|
5.85%
|
|
15,128
|
$
|
84,285,536.10
|
49.002%
|
|
||||||||||||||||||
|
31-60 DAYS DELINQUENT
|
5.87%
|
|
1,007
|
$
|
6,652,557.10
|
3.918%
|
|
5.89%
|
|
1,381
|
$
|
8,933,196.44
|
5.194%
|
|
|||||||||||||||||||
|
61-90 DAYS DELINQUENT
|
5.89%
|
|
784
|
$
|
5,327,499.81
|
3.138%
|
|
6.00%
|
|
917
|
$
|
6,113,622.96
|
3.554%
|
|
|||||||||||||||||||
|
91-120 DAYS DELINQUENT
|
5.96%
|
|
598
|
$
|
3,762,914.79
|
2.216%
|
|
5.86%
|
|
699
|
$
|
5,244,803.24
|
3.049%
|
|
|||||||||||||||||||
|
> 120 DAYS DELINQUENT
|
5.94%
|
|
2,272
|
$
|
15,527,643.27
|
9.145%
|
|
5.98%
|
|
2,263
|
$
|
14,922,398.45
|
8.676%
|
|
|||||||||||||||||||
| |
FORBEARANCE |
6.21%
|
|
6,196
|
$
|
41,582,860.61
|
24.491%
|
|
6.21%
|
|
5,913
|
$
|
39,712,738.87
|
23.088%
|
|
||||||||||||||||||
|
CLAIMS IN PROCESS
|
5.91%
|
|
371
|
$
|
2,299,501.79
|
1.354%
|
|
5.90%
|
|
317
|
$
|
1,914,426.33
|
1.113%
|
|
|||||||||||||||||||
|
TOTAL
|
28,001
|
$
|
169,786,860.62
|
100.00%
|
|
28,470
|
$
|
172,004,566.33
|
100.00%
|
|
|||||||||||||||||||||||
|
Page 4 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
|
IV.
|
2010-2 Portfolio Characteristics (cont’d)
|
|
10/31/2022
|
09/30/2022
|
|||||||
|
Pool Balance
|
$
|
172,739,559.88
|
$
|
174,766,344.55
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
7,453,907.39
|
$
|
7,486,175.98
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
2,952,699.26
|
$
|
2,761,778.22
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,060,566.53
|
$
|
1,136,081.20
|
||||
|
Total # Loans
|
28,001
|
28,470
|
||||||
|
Total # Borrowers
|
12,335
|
12,527
|
||||||
|
Weighted Average Coupon
|
5.95%
|
|
5.95%
|
|
||||
|
Weighted Average Remaining Term
|
160.99
|
159.96
|
||||||
|
Non-Reimbursable Losses
|
$
|
15,797.47
|
$
|
12,909.10
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
6,067,442.19
|
$
|
6,051,644.72
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-27.49%
|
|
-26.86%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
-
|
-
|
||||||
|
Cumulative Rejected Claim Repurchases
|
$
|
1,992,082.97
|
$
|
1,992,082.97
|
||||
|
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
|
$
|
603,688.05
|
$
|
675,746.95
|
||||
|
Borrower Interest Accrued
|
$
|
830,592.86
|
$
|
810,737.28
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
27,758.53
|
$
|
28,169.48
|
||||
|
Special Allowance Payments Accrued
|
$
|
115,032.09
|
$
|
93,518.29
|
||||
|
Page 5 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
|
V.
|
2010-2 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
||||||||||||
|
- GSL (1) - Subsidized
|
5.48%
|
|
15,424
|
66,801,741.63
|
39.344%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.18%
|
|
11,943
|
94,386,133.67
|
55.591%
|
|
|||||||||||
|
- PLUS (2) Loans
|
7.26%
|
|
509
|
7,615,981.84
|
4.486%
|
|
|||||||||||
|
- SLS (3) Loans
|
6.19%
|
|
125
|
983,003.48
|
0.579%
|
|
|||||||||||
|
- Consolidation Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
Total
|
5.95%
|
|
28,001
|
$
|
169,786,860.62
|
100.000% |
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
||||||||||||
|
- Four Year
|
6.00%
|
|
21,967
|
144,272,356.19
|
84.973%
|
|
|||||||||||
|
- Two Year
|
5.76%
|
|
4,530
|
19,371,641.92
|
11.409%
|
|
|||||||||||
|
- Technical
|
5.57%
|
|
1,483
|
6,089,277.10
|
3.586%
|
|
|||||||||||
|
- Other
|
5.15%
|
|
21
|
53,585.41
|
0.032%
|
|
|||||||||||
|
Total
|
5.95%
|
|
28,001
|
$
|
169,786,860.62
|
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 2010-2 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
|
VI.
|
2010-2 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
2,946,871.66
|
|||||||
| A | Trustee Fees |
- | $ | 2,946,871.66 |
|||||
| B |
Primary Servicing Fee
|
$
|
67,374.05
|
$
|
2,879,497.61
|
||||
| C |
Administration Fee
|
$
|
6,667.00
|
$
|
2,872,830.61
|
||||
| D |
Class A Noteholders’ Interest Distribution Amount
|
$
|
518,527.80
|
$
|
2,354,302.81
|
||||
| E |
Class B Noteholders’ Interest Distribution Amount
|
$
|
86,440.55
|
$
|
2,267,862.26
|
||||
| F |
Reserve Account Reinstatement
|
|
-
|
$
|
2,267,862.26
|
||||
| G |
Class A Noteholders’ Principal Distribution Amount
|
$
|
2,026,784.67
|
$ |
241,077.59
|
||||
| H |
Class B Noteholders’ Principal Distribution Amount
|
-
|
$ |
241,077.59
|
|||||
| I |
Unpaid Expenses of The Trustees
|
-
|
$ |
241,077.59
|
|||||
| J |
Carryover Servicing Fee
|
-
|
$ |
241,077.59
|
|||||
| K |
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$ |
241,077.59
|
|||||
| L |
Excess Distribution Certificateholder
|
$ |
241,077.59
|
-
|
|||||
|
Waterfall Triggers
|
|||||||||
|
A
|
Student Loan Principal Outstanding
|
$
|
169,786,860.62
|
||||||
|
B
|
Interest to be Capitalized
|
$
|
2,952,699.26
|
||||||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||||||
|
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
1,130,416.00
|
||||||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(1,130,416.00)
|
|
|||||
|
F
|
Total
|
$
|
172,739,559.88
|
||||||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
145,360,559.88
|
||||||
|
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 2010-2 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
|
VII.
|
2010-2 Distributions
|
| A | B | |||||||
|
Cusip/Isin
|
78446AAA3
|
78446AAB1
|
||||||
|
Beginning Balance
|
$
|
147,387,344.55
|
$
|
22,379,000.00
|
||||
|
Index
|
LIBOR
|
LIBOR
|
||||||
|
Spread/Fixed Rate
|
0.50%
|
|
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*
|
4.08557%
|
|
4.48557%
|
|
||||
|
Accrued Interest Factor
|
0.003518130
|
0.003862574
|
||||||
|
Current Interest Due
|
$
|
518,527.80
|
$
|
86,440.55
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
518,527.80
|
$
|
86,440.55
|
||||
|
Interest Paid
|
$
|
518,527.80
|
$
|
86,440.55
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
2,026,784.67
|
-
|
|||||
|
Ending Principal Balance
|
$
|
145,360,559.88
|
$
|
22,379,000.00
|
||||
|
Paydown Factor
|
0.002746321
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.196965528
|
1.000000000
|
||||||
|
Page 8 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|
|
VIII.
|
2010-2 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
|||
|
Notes Outstanding Principal Balance
|
$
|
169,766,344.55 | ||
|
Adjusted Pool Balance
|
$
|
172,739,559.88 | ||
|
Overcollateralization Amount
|
$
|
5,000,000.00 | ||
|
Principal Distribution Amount
|
$
|
2,026,784.67 | ||
|
Principal Distribution Amount Paid
|
$
|
2,026,784.67 | ||
|
B
|
Reserve Account Reconciliation
|
|||
|
Beginning Period Balance
|
$
|
1,130,416.00 | ||
|
Reserve Funds Utilized
|
0.00 |
|||
|
Reserve Funds Reinstated
|
0.00 |
|||
|
Balance Available
|
$
|
1,130,416.00 | ||
| Required Reserve Acct Balance | $ | 1,130,416.00 |
||
|
Release to Collection Account
|
|
- |
||
|
Ending Reserve Account Balance
|
$
|
1,130,416.00 | ||
|
C
|
Capitalized Interest Account
|
|||
|
Beginning Period Balance
|
|
- |
||
|
Transfers to Collection Account
|
- | |||
|
Ending Balance
|
- | |||
|
D
|
Floor Income Rebate Account
|
|||
|
Beginning Period Balance
|
$
|
441,144.55 | ||
|
Deposits for the Period
|
$
|
138,502.22 | ||
|
Release to Collection Account
|
- | |||
|
Ending Balance
|
$
|
579,646.77 | ||
|
E
|
Supplemental Purchase Account
|
|||
|
Beginning Period Balance
|
- |
|||
|
Supplemental Loan Purchases
|
- |
|||
|
Transfers to Collection Account
|
- |
|||
|
Ending Balance
|
- |
|||
|
Page 9 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 10/01/2022 - 10/31/2022, Distribution Date 11/25/2022
|