Page 1 of 9
|
Trust 2012-6 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023 |
I. |
Deal Parameters
|
A
|
Student Loan Portfolio Characteristics
|
09/20/2012
|
11/30/2022
|
12/31/2022
|
|||||||||
Principal Balance
|
$
|
1,181,065,142.80
|
$
|
294,443,256.39
|
$
|
288,017,262.24
|
|||||||
|
Interest to be Capitalized Balance
|
42,536,761.45
|
3,716,098.84
|
3,698,581.24
|
|||||||||
Pool Balance
|
$
|
1,223,601,904.25
|
$
|
298,159,355.23
|
$
|
291,715,843.48
|
|||||||
|
Capitalized Interest Account Balance
|
$
|
10,000,000.00
|
-
|
-
|
||||||||
|
Specified Reserve Account Balance
|
3,118,972.00
|
- N/A -
|
- N/A -
|
|||||||||
|
Adjusted Pool (1)
|
$
|
1,236,720,876.25
|
$
|
298,159,355.23
|
$
|
291,715,843.48
|
||||||
|
Weighted Average Coupon (WAC)
|
6.70%
|
|
6.72%
|
|
6.72%
|
|
||||||
|
Number of Loans
|
245,812
|
46,782
|
45,581
|
|||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
1,271,254.38
|
$
|
1,271,502.86
|
||||||||
|
Aggregate Outstanding Principal Balance - LIBOR
|
$
|
296,888,100.85
|
$
|
290,444,340.62
|
||||||||
|
Pool Factor
|
0.238988481
|
0.233823709
|
||||||||||
|
Since Issued Constant Prepayment Rate
|
(17.05)%
|
|
(18.08)%
|
|
(1) |
The Specified Reserve Account balance is included in the Adjusted Pool until the Pool Balance is less than 40% of the original pool.
|
B
|
Debt Securities
|
Cusip/Isin
|
12/27/2022
|
01/25/2023
|
|||||||
A3
|
78447GAC5
|
$
|
257,777,761.68
|
$
|
251,398,685.05
|
||||||
B |
78447GAD3
|
$
|
37,400,000.00
|
$
|
37,400,000.00
|
C
|
Account Balances
|
12/27/2022
|
01/25/2023
|
||||||
Reserve Account Balance
|
$
|
1,247,589.00
|
$
|
1,247,589.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
||||||
|
Floor Income Rebate Account
|
$
|
226,760.87
|
$
|
370,018.62
|
||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
D
|
Asset / Liability
|
12/27/2022
|
01/25/2023
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
298,159,355.23
|
$
|
291,715,843.48
|
||||
|
Total Notes
|
$
|
295,177,761.68
|
$
|
288,798,685.05
|
||||
|
Difference
|
$
|
2,981,593.55
|
$
|
2,917,158.43
|
||||
|
Parity Ratio
|
1.01010
|
1.01010
|
Page 2 of 9
|
Trust 2012-6 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
|
817,416.51
|
||||
Guarantor Principal
|
1,653,480.62
|
||||
Consolidation Activity Principal
|
5,034,594.69
|
||||
Seller Principal Reimbursement
|
-
|
||||
Servicer Principal Reimbursement
|
689.06
|
||||
Rejected Claim Repurchased Principal
|
-
|
||||
Other Principal Deposits
|
227.58
|
||||
Total Principal Receipts
|
$
|
7,506,408.46
|
|||
B
|
Student Loan Interest Receipts
|
||||
Borrower Interest
|
439,032.19
|
||||
Guarantor Interest
|
65,388.82
|
||||
Consolidation Activity Interest
|
294,546.24
|
||||
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
|
38,812.32
|
||||
Total Interest Receipts
|
$
|
837,779.57
|
|||
C |
Reserves in Excess of Requirement
|
|
-
|
||
D
|
Investment Income
|
$
|
38,820.53
|
||
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
|
$
|
(143,257.75)
|
|
||
M
|
AVAILABLE FUNDS
|
$
|
8,239,750.81
|
||
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(1,080,414.31)
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
40,171.87
|
||
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
$
|
228.52
|
||
Q
|
Aggregate Loan Substitutions
|
-
|
Page 3 of 9
|
Trust 2012-6 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023 |
III. |
2012-6 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
|
6.27%
|
|
45
|
$
|
218,906.83
|
0.076%
|
|
6.32%
|
|
51
|
$
|
240,217.83
|
0.082%
|
|
||||||||||||||||||
GRACE
|
6.80%
|
|
13
|
$
|
53,089.00
|
0.018%
|
|
6.80%
|
|
7
|
$
|
31,778.00
|
0.011%
|
|
|||||||||||||||||||
DEFERMENT
|
6.64%
|
|
2,605
|
$
|
14,595,524.07
|
5.068%
|
|
6.62%
|
|
2,891
|
$
|
15,830,869.77
|
5.377%
|
|
|||||||||||||||||||
REPAYMENT:
|
CURRENT
|
6.72%
|
|
28,013
|
$
|
168,751,009.72
|
58.591%
|
|
6.73%
|
|
29,065
|
$
|
174,266,940.01
|
59.185%
|
|
||||||||||||||||||
|
31-60 DAYS DELINQUENT
|
6.73%
|
|
1,363
|
$
|
8,997,294.00
|
3.124%
|
|
6.76%
|
|
1,454
|
$
|
10,136,105.69
|
3.442%
|
|
||||||||||||||||||
|
61-90 DAYS DELINQUENT
|
6.76%
|
|
852
|
$
|
6,135,137.75
|
2.130%
|
|
6.57%
|
|
920
|
$
|
6,161,131.84
|
2.092%
|
|
||||||||||||||||||
|
91-120 DAYS DELINQUENT
|
6.59%
|
|
518
|
$
|
3,283,514.36
|
1.140%
|
|
6.58%
|
|
817
|
$
|
5,190,446.08
|
1.763%
|
|
||||||||||||||||||
|
> 120 DAYS DELINQUENT
|
6.66%
|
|
3,243
|
$
|
23,513,638.52
|
8.164%
|
|
6.72%
|
|
3,548
|
$
|
26,874,457.98
|
9.127%
|
|
||||||||||||||||||
|
FORBEARANCE
|
6.76%
|
|
8,498
|
$
|
59,437,822.42
|
20.637%
|
|
6.75%
|
|
7,596
|
$
|
52,848,535.60
|
17.949%
|
|
||||||||||||||||||
|
CLAIMS IN PROCESS
|
6.79%
|
|
431
|
$
|
3,031,325.57
|
1.052%
|
|
6.63%
|
|
433
|
$
|
2,862,773.59
|
0.972%
|
|
||||||||||||||||||
TOTAL
|
45,581
|
$
|
288,017,262.24
|
100.00%
|
|
46,782
|
$
|
294,443,256.39
|
100.00%
|
|
Page 4 of 9
|
Trust 2012-6 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023 |
IV.
|
2012-6 Portfolio Characteristics (cont'd)
|
12/31/2022
|
11/30/2022
|
|||||||
Pool Balance
|
$
|
291,715,843.48
|
$
|
298,159,355.23
|
||||
Outstanding Borrower Accrued Interest
|
$
|
13,501,693.76
|
$
|
13,832,314.71
|
||||
Borrower Accrued Interest to be Capitalized
|
$
|
3,698,581.24
|
$
|
3,716,098.84
|
||||
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,544,607.36
|
$
|
1,767,858.62
|
||||
Total # Loans
|
45,581
|
46,782
|
||||||
Total # Borrowers
|
21,054
|
21,604
|
||||||
Weighted Average Coupon
|
6.72%
|
|
6.72%
|
|
||||
Weighted Average Remaining Term
|
169.62
|
167.43
|
||||||
Non-Reimbursable Losses
|
$
|
40,171.87
|
$
|
39,254.99
|
||||
Cumulative Non-Reimbursable Losses
|
$
|
5,621,067.53
|
$
|
5,580,895.66
|
||||
Since Issued Constant Prepayment Rate (CPR)
|
-18.08%
|
|
-17.05%
|
|
||||
Loan Substitutions
|
-
|
-
|
||||||
Cumulative Loan Substitutions
|
-
|
-
|
||||||
Rejected Claim Repurchases
|
-
|
-
|
||||||
Cumulative Rejected Claim Repurchases
|
$
|
606,646.74
|
$
|
606,646.74
|
||||
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
|
$
|
1,120,256.79
|
$
|
1,109,428.36
|
||||
Borrower Interest Accrued
|
$
|
1,589,946.76
|
$
|
1,578,922.50
|
||||
Interest Subsidy Payments Accrued
|
$
|
42,560.86
|
$
|
43,971.94
|
||||
Special Allowance Payments Accrued
|
$
|
106,921.29
|
$
|
95,886.06
|
Page 5 of 9
|
Trust 2012-6 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023 |
V.
|
2012-6 Portfolio Statistics by School and Program
|
A |
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
- GSL (1) - Subsidized
|
6.32%
|
|
23,243
|
97,568,356.26
|
33.876%
|
|
|||||||||||
- GSL - Unsubsidized
|
6.48%
|
|
20,211
|
147,200,324.96
|
51.108%
|
|
|||||||||||
- PLUS (2) Loans
|
8.45%
|
|
2,069
|
42,679,621.08
|
14.818%
|
|
|||||||||||
- SLS (3) Loans
|
5.95%
|
|
58
|
568,959.94
|
0.198%
|
|
|||||||||||
- Consolidation Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
Total
|
6.72%
|
|
45,581
|
$
|
288,017,262.24
|
100.000%
|
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
- Four Year
|
6.75%
|
|
36,608
|
247,444,472.29
|
85.913%
|
|
|||||||||||
- Two Year
|
6.51%
|
|
8,042
|
36,156,481.02
|
12.554%
|
|
|||||||||||
- Technical
|
6.59%
|
|
920
|
4,372,090.94
|
1.518%
|
|
|||||||||||
- Other
|
5.60%
|
|
11
|
44,217.99
|
0.015%
|
|
|||||||||||
Total
|
6.72%
|
|
45,581
|
$
|
288,017,262.24
|
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 2012-6 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023 |
VI.
|
2012-6 Waterfall for Distributions
|
Paid
|
Remaining
Funds Balance
|
|||||||
Total Available Funds
|
$
|
8,239,750.81
|
||||||
A
|
Trustee Fees
|
|
-
|
$
|
8,239,750.81
|
|||
B |
Primary Servicing Fee
|
$
|
102,340.86
|
$
|
8,137,409.95
|
|||
C |
Administration Fee
|
$
|
6,667.00
|
$
|
8,130,742.95
|
|||
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
1,067,075.27
|
$
|
7,063,667.68
|
|||
E
|
Class B Noteholders' Interest Distribution Amount
|
$ |
162,349.86
|
$
|
6,901,317.82
|
|||
F
|
Reserve Account Reinstatement
|
|
-
|
$
|
6,901,317.82
|
|||
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
6,379,076.63
|
$
|
522,241.19
|
|||
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$
|
522,241.19
|
||||
I
|
Unpaid Expenses of The Trustees
|
-
|
$
|
522,241.19
|
||||
J
|
Carryover Servicing Fee
|
-
|
$
|
522,241.19
|
||||
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$ |
522,241.19
|
||||
L |
Excess Distribution Certificateholder
|
$ | 522,241.19 |
-
|
Waterfall Triggers
|
|||||
A
|
Student Loan Principal Outstanding
|
$
|
288,017,262.24
|
||
B
|
Interest to be Capitalized
|
$
|
3,698,581.24
|
||
C
|
Capitalized Interest Account Balance
|
-
|
|||
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
1,247,589.00
|
||
E
|
Less: Specified Reserve Account Balance
|
$
|
(1,247,589.00)
|
|
|
F
|
Total
|
$
|
291,715,843.48
|
||
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
251,398,685.05
|
||
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 2012-6 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023 |
VII.
|
2012-6 Distributions
|
A3
|
B | |||||||
Cusip/Isin
|
78447GAC5
|
78447GAD3
|
||||||
Beginning Balance
|
$
|
257,777,761.68
|
$
|
37,400,000.00
|
||||
Index
|
LIBOR
|
LIBOR
|
||||||
Spread/Fixed Rate
|
0.75%
|
|
1.00%
|
|
||||
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*
|
5.13871%
|
|
5.38871%
|
|
||||
Accrued Interest Factor
|
0.004139516
|
0.004340905
|
||||||
Current Interest Due
|
$
|
1,067,075.27
|
$
|
162,349.86
|
||||
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
Total Interest Due
|
$
|
1,067,075.27
|
$
|
162,349.86
|
||||
Interest Paid
|
$
|
1,067,075.27
|
$
|
162,349.86
|
||||
Interest Shortfall
|
-
|
-
|
||||||
Principal Paid
|
$
|
6,379,076.63
|
-
|
|||||
Ending Principal Balance
|
$
|
251,398,685.05
|
$
|
37,400,000.00
|
||||
Paydown Factor
|
0.011094046
|
0.000000000
|
||||||
Ending Balance Factor
|
0.437215104
|
1.000000000
|
Page 8 of 9
|
Trust 2012-6 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023 |
VIII.
|
2012-6 Reconciliations
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
295,177,761.68
|
||
|
Adjusted Pool Balance
|
$
|
291,715,843.48
|
||
|
Overcollateralization Amount
|
$
|
2,917,158.43
|
||
|
Principal Distribution Amount
|
$
|
6,379,076.63
|
||
Principal Distribution Amount Paid
|
$
|
6,379,076.63
|
|||
B
|
Reserve Account Reconciliation
|
||||
Beginning Period Balance
|
$
|
1,247,589.00
|
|||
Reserve Funds Utilized
|
0.00
|
||||
Reserve Funds Reinstated
|
0.00
|
||||
Balance Available
|
$
|
1,247,589.00
|
|||
|
Required Reserve Acct Balance
|
$
|
1,247,589.00
|
||
|
Release to Collection Account
|
-
|
|||
Ending Reserve Account Balance
|
$
|
1,247,589.00
|
|||
C
|
Capitalized Interest Account
|
||||
|
Beginning Period Balance
|
-
|
|||
|
Transfers to Collection Account
|
-
|
|||
|
Ending Balance
|
-
|
|||
D
|
Floor Income Rebate Account
|
||||
Beginning Period Balance
|
$
|
226,760.87
|
|||
Deposits for the Period
|
$
|
143,257.75
|
|||
|
Release to Collection Account
|
|
-
|
|
|
|
Ending Balance
|
$
|
370,018.62
|
||
E
|
Supplemental Purchase Account
|
||||
Beginning Period Balance
|
-
|
||||
|
Supplemental Loan Purchases
|
-
|
|||
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
Page 9 of 9
|
Trust 2012-6 Monthly Servicing Report: Collection Period 12/01/2022 - 12/31/2022, Distribution Date 01/25/2023 |