Page 1 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023
|
I. |
Deal Parameters
|
A
|
Student Loan Portfolio Characteristics
|
08/15/2013
|
11/30/2022
|
12/31/2022
|
|||||||||
Principal Balance |
$
|
721,402,856.22
|
$
|
199,644,411.86
|
$
|
195,397,468.31
|
|||||||
Interest to be Capitalized Balance |
12,923,603.00
|
2,304,581.62
|
2,241,122.28
|
||||||||||
Pool Balance |
$
|
734,326,459.22
|
$
|
201,948,993.48
|
$
|
197,638,590.59
|
|||||||
Specified Reserve Account Balance |
3,744,487.00
|
- N/A -
|
- N/A -
|
||||||||||
|
Adjusted Pool(1) |
$
|
738,070,946.22
|
$
|
201,948,993.48
|
$
|
197,638,590.59
|
||||||
Weighted Average Coupon (WAC)
|
6.28%
|
|
6.50%
|
|
6.50%
|
|
|||||||
Number of Loans |
163,648
|
34,295
|
33,351
|
||||||||||
Aggregate Outstanding Principal Balance - Tbill |
-
|
-
|
|||||||||||
Aggregate Outstanding Principal Balance - LIBOR |
$
|
201,948,993.48
|
$
|
197,638,590.59
|
|||||||||
Pool Factor |
0.269661762
|
0.263906097
|
|||||||||||
Since Issued Constant Prepayment Rate |
(8.45)%
|
|
(8.81)%
|
|
B
|
Debt Securities
|
Cusip/Isin
|
12/27/2022
|
01/25/2023
|
|||||||
A |
|
78448AAA1
|
$
|
179,329,503.55
|
$
|
175,062,204.68
|
|||||
B |
|
78448AAD5
|
$
|
20,600,000.00
|
$
|
20,600,000.00
|
C
|
Account Balances
|
12/27/2022
|
01/25/2023
|
||||||
Reserve Account Balance |
$
|
748,897.00
|
$
|
748,897.00
|
|||||
Capitalized Interest Account Balance |
-
|
-
|
|||||||
Floor Income Rebate Account |
$
|
117,021.46
|
$
|
179,077.34
|
|||||
Supplemental Loan Purchase Account |
-
|
-
|
D
|
Asset / Liability
|
12/27/2022
|
01/25/2023
|
||||||
Adjusted Pool Balance + Supplemental Loan Purchase |
$
|
201,948,993.48
|
$
|
197,638,590.59
|
|||||
Total Notes |
$
|
199,929,503.55
|
$
|
195,662,204.68
|
|||||
Difference |
$
|
2,019,489.93
|
$
|
1,976,385.91
|
|||||
Parity Ratio |
1.01010
|
1.01010
|
Page 2 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023
|
II. |
Trust Activity 12/01/2022 through 12/31/2022
|
A |
Student Loan Principal Receipts
|
||||
Borrower Principal
|
518,580.99
|
||||
Guarantor Principal
|
775,304.55
|
||||
Consolidation Activity Principal
|
3,777,832.49
|
||||
Seller Principal Reimbursement
|
-
|
||||
Servicer Principal Reimbursement
|
577.32
|
||||
Rejected Claim Repurchased Principal
|
-
|
||||
Other Principal Deposits
|
-
|
||||
Total Principal Receipts
|
$
|
5,072,295.35
|
|||
B |
Student Loan Interest Receipts
|
||||
Borrower Interest
|
268,304.39
|
||||
Guarantor Interest
|
37,004.11
|
||||
Consolidation Activity Interest
|
111,446.91
|
||||
Special Allowance Payments
|
0.00
|
||||
Interest Subsidy Payments
|
0.00
|
||||
Seller Interest Reimbursement
|
0.00
|
||||
Servicer Interest Reimbursement
|
0.00
|
|
|||
Rejected Claim Repurchased Interest
|
0.00
|
||||
Other Interest Deposits
|
30,086.47
|
||||
Total Interest Receipts
|
$
|
446,841.88
|
|||
C |
Reserves in Excess of Requirement
|
|
-
|
||
D |
Investment Income
|
$
|
26,875.21
|
||
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
|
$
|
(62,055.88)
|
|
||
M
|
AVAILABLE FUNDS
|
$
|
5,483,956.56
|
||
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(825,351.80)
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
17,043.32
|
||
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
-
|
||
Q
|
Aggregate Loan Substitutions
|
-
|
Page 3 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023
|
III. |
2013-4 Portfolio Characteristics
|
12/31/2022
|
11/30/2022
|
||||||||||||||||||||||||||||||||
Wtd Avg Coupon
|
# Loans
|
Principal
|
% of Principal
|
Wtd Avg Coupon
|
# Loans
|
Principal
|
% of Principal
|
||||||||||||||||||||||||||
INTERIM:
|
IN SCHOOL
|
6.10%
|
|
44
|
$
|
309,132.73
|
0.158%
|
|
6.10%
|
|
44
|
$
|
309,132.73
|
0.155%
|
|
||||||||||||||||||
GRACE |
5.13%
|
|
5
|
$
|
39,625.00
|
0.020%
|
|
5.13%
|
|
5
|
$
|
39,625.00
|
0.020%
|
|
|||||||||||||||||||
DEFERMENT |
6.25%
|
|
1,889
|
$
|
10,068,523.01
|
5.153%
|
|
6.27%
|
|
2,013
|
$
|
10,855,670.13
|
5.438%
|
|
|||||||||||||||||||
REPAYMENT:
|
CURRENT
|
6.52%
|
|
20,936
|
$
|
115,709,771.42
|
59.218%
|
|
6.51%
|
|
21,614
|
$
|
117,453,142.80
|
58.831%
|
|
||||||||||||||||||
31-60 DAYS DELINQUENT |
6.45%
|
|
989
|
$
|
6,358,008.38
|
3.254%
|
|
6.64%
|
|
998
|
$
|
6,533,492.03
|
3.273%
|
|
|||||||||||||||||||
61-90 DAYS DELINQUENT |
6.73%
|
|
582
|
$
|
3,531,615.45
|
1.807%
|
|
6.51%
|
|
632
|
$
|
3,673,342.68
|
1.840%
|
|
|||||||||||||||||||
91-120 DAYS DELINQUENT |
6.41%
|
|
327
|
$
|
1,935,529.81
|
0.991%
|
|
6.67%
|
|
549
|
$
|
3,777,256.72
|
1.892%
|
|
|||||||||||||||||||
> 120 DAYS DELINQUENT |
6.54%
|
|
2,012
|
$
|
13,584,543.78
|
6.952%
|
|
6.55%
|
|
2,453
|
$
|
16,653,814.80
|
8.342%
|
|
|||||||||||||||||||
FORBEARANCE |
6.48%
|
|
6,196
|
$
|
41,481,200.70
|
21.229%
|
|
6.48%
|
|
5,717
|
$
|
38,844,360.90
|
19.457%
|
|
|||||||||||||||||||
CLAIMS IN PROCESS |
6.77%
|
|
371
|
$
|
2,379,518.03
|
1.218%
|
|
6.45%
|
|
270
|
$
|
1,504,574.07
|
0.754%
|
|
|||||||||||||||||||
TOTAL
|
33,351
|
$
|
195,397,468.31
|
100.00%
|
|
34,295
|
$
|
199,644,411.86
|
100.00%
|
|
Page 4 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023
|
IV. |
2013-4 Portfolio Characteristics (cont'd)
|
12/31/2022
|
11/30/2022
|
|||||||
Pool Balance
|
$
|
197,638,590.59
|
$
|
201,948,993.48
|
||||
Outstanding Borrower Accrued Interest
|
$
|
8,719,438.25
|
$
|
8,938,136.73
|
||||
Borrower Accrued Interest to be Capitalized
|
$
|
2,241,122.28
|
$
|
2,304,581.62
|
||||
Borrower Accrued Interest >30 Days Delinquent
|
$
|
940,349.51
|
$
|
1,078,194.44
|
||||
Total # Loans
|
33,351
|
34,295
|
||||||
Total # Borrowers
|
10,921
|
11,232
|
||||||
Weighted Average Coupon
|
6.50%
|
|
6.50%
|
|
||||
Weighted Average Remaining Term
|
166.82
|
165.36
|
||||||
Non-Reimbursable Losses
|
$
|
17,043.32
|
$
|
17,662.16
|
||||
Cumulative Non-Reimbursable Losses
|
$
|
2,172,381.76
|
$
|
2,155,338.44
|
||||
Since Issued Constant Prepayment Rate (CPR)
|
-8.81 %
|
|
-8.45 %
|
|
||||
Loan Substitutions
|
-
|
-
|
||||||
Cumulative Loan Substitutions
|
-
|
-
|
||||||
Rejected Claim Repurchases
|
-
|
-
|
||||||
Cumulative Rejected Claim Repurchases
|
$
|
145,788.07
|
$
|
145,788.07
|
||||
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
|
$
|
844,772.64
|
$
|
690,838.71
|
||||
Borrower Interest Accrued
|
$
|
1,042,305.87
|
$
|
1,037,075.61
|
||||
Interest Subsidy Payments Accrued
|
$
|
29,928.90
|
$
|
30,708.60
|
||||
Special Allowance Payments Accrued
|
$
|
102,548.50
|
$
|
91,935.47
|
Page 5 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023
|
V. |
2013-4 Portfolio Statistics by School and Program
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
- GSL (1) - Subsidized |
6.21%
|
|
17,947
|
73,211,762.76
|
37.468%
|
|
||||||||||
- GSL - Unsubsidized |
6.32%
|
|
14,363
|
100,545,391.82
|
51.457%
|
|
|||||||||||
|
- PLUS (2) Loans |
8.30%
|
|
1,041
|
21,640,313.73
|
11.075%
|
|
||||||||||
|
- SLS (3) Loans |
0.00%
|
|
0
|
-
|
0.000%
|
|
||||||||||
- Consolidation Loans |
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
Total |
6.50%
|
|
33,351
|
$
|
195,397,468.31
|
100.000%
|
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
- Four Year |
6.52%
|
|
29,164
|
180,146,190.29
|
92.195%
|
|
|||||||||||
- Two Year |
6.20%
|
|
3,539
|
12,988,338.14
|
6.647%
|
|
|||||||||||
- Technical |
6.11%
|
|
644
|
2,242,171.16
|
1.147%
|
|
|||||||||||
- Other |
3.44%
|
|
4
|
20,768.72
|
0.011%
|
|
|||||||||||
Total |
6.50%
|
|
33,351
|
$
|
195,397,468.31
|
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 2013-4 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023
|
VI. |
2013-4 Waterfall for Distributions
|
Paid
|
Remaining
Funds Balance
|
||||||||
Total Available Funds
|
$
|
5,483,956.56
|
|||||||
A |
Trustee Fees
|
|
-
|
$
|
5,483,956.56
|
||||
B |
Primary Servicing Fee
|
$
|
52,076.12
|
$
|
5,431,880.44
|
||||
C |
Administration Fee
|
$
|
6,667.00
|
$
|
5,425,213.44
|
||||
D |
Class A Noteholders' Interest Distribution Amount
|
$
|
713,445.44
|
$
|
4,711,768.00
|
||||
E
|
Class B Noteholders' Interest Distribution Amount
|
$ |
97,719.87
|
$
|
4,614,048.13
|
||||
F
|
Reserve Account Reinstatement
|
|
-
|
$ |
4,614,048.13
|
||||
G
|
Class A Noteholders' Principal Distribution Amount
|
$ |
4,267,298.87
|
$ |
346,749.26
|
||||
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$ |
346,749.26
|
|||||
I
|
Unpaid Expenses of The Trustees
|
-
|
$ |
346,749.26
|
|||||
J
|
Carryover Servicing Fee
|
-
|
$ |
346,749.26
|
|||||
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$ |
346,749.26
|
|||||
L |
Excess Distribution Certificateholder
|
$ |
346,749.26
|
-
|
Waterfall Triggers
|
|||||
A |
Student Loan Principal Outstanding
|
$
|
195,397,468.31
|
||
B |
Interest to be Capitalized
|
$
|
2,241,122.28
|
||
C |
Capitalized Interest Account Balance
|
-
|
|||
D |
Reserve Account Balance (after any reinstatement)
|
$
|
748,897.00
|
||
E
|
Less: Specified Reserve Account Balance
|
$
|
(748,897.00)
|
|
|
F
|
Total
|
$
|
197,638,590.59
|
||
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
175,062,204.68
|
||
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 2013-4 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023
|
VII. |
2013-4 Distributions
|
A |
|
B |
|
|||||
Cusip/Isin
|
78448AAA1
|
78448AAD5
|
||||||
Beginning Balance
|
$
|
179,329,503.55
|
$
|
20,600,000.00
|
||||
Index
|
LIBOR
|
LIBOR
|
||||||
Spread/Fixed Rate
|
0.55%
|
|
1.50%
|
|
||||
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
1 NEW YORK BUSINESS DAY
|
||||||
Accrual Period Begin
|
12/27/2022
|
12/27/2022
|
||||||
Accrual Period End
|
1/25/2023
|
1/25/2023
|
||||||
Daycount Fraction
|
0.08055556
|
0.08055556
|
||||||
Interest Rate*
|
4.93871%
|
|
5.88871%
|
|
||||
Accrued Interest Factor
|
0.003978405
|
0.004743683
|
||||||
Current Interest Due
|
$
|
713,445.44
|
$
|
97,719.87
|
||||
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
Total Interest Due
|
$
|
713,445.44
|
$
|
97,719.87
|
||||
Interest Paid
|
$
|
713,445.44
|
$
|
97,719.87
|
||||
Interest Shortfall
|
-
|
-
|
||||||
Principal Paid
|
$
|
4,267,298.87
|
-
|
|||||
Ending Principal Balance
|
$
|
175,062,204.68
|
$
|
20,600,000.00
|
||||
Paydown Factor
|
0.005877822
|
0.000000000
|
||||||
Ending Balance Factor
|
0.241132513
|
1.000000000
|
Page 8 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023
|
VIII. |
2013-4 Reconciliations
|
A
|
Principal Distribution Reconciliation
|
||||
Notes Outstanding Principal Balance |
$
|
199,929,503.55
|
|||
Adjusted Pool Balance |
$
|
197,638,590.59
|
|||
Overcollateralization Amount |
$
|
1,976,385.91
|
|||
Principal Distribution Amount |
$
|
4,267,298.87
|
|||
Principal Distribution Amount Paid |
$
|
4,267,298.87
|
|||
B
|
Reserve Account Reconciliation
|
||||
Beginning Period Balance |
$
|
748,897.00
|
|||
Reserve Funds Utilized |
0.00
|
||||
Reserve Funds Reinstated |
0.00
|
||||
Balance Available |
$
|
748,897.00
|
|||
Required Reserve Acct Balance |
$
|
748,897.00
|
|||
Release to Collection Account |
|
-
|
|||
Ending Reserve Account Balance |
$
|
748,897.00
|
|||
C
|
Floor Income Rebate Account
|
||||
Beginning Period Balance |
$
|
117,021.46
|
|||
Deposits for the Period |
$
|
62,055.88
|
|||
Release to Collection Account |
-
|
|
|||
Ending Balance |
$
|
179,077.34
|
|||
D
|
Supplemental Purchase Account
|
||||
Beginning Period Balance |
-
|
||||
Supplemental Loan Purchases |
-
|
||||
Transfers to Collection Account |
-
|
||||
Ending Balance |
-
|
Page 9 of 9
|
Trust 2013-4 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023
|