|
Page 1 of 9
|
Trust 2010-01 Quarterly Servicing Report: Collection Period 02/01/2023 - 04/30/2023, Distribution Date 05/25/2023
|
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
01/31/2023
|
04/30/2023
|
||||||
|
Principal Balance
|
$
|
208,874,329.48
|
$
|
202,131,885.65
|
|||||
|
Interest to be Capitalized Balance
|
1,680,435.29
|
1,647,624.61
|
|||||||
|
Pool Balance
|
$
|
210,554,764.77
|
$
|
203,779,510.26
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Specified Reserve Account Balance
|
- N/A -
|
- N/A -
|
|||||||
|
Adjusted Pool (1)
|
$
|
210,554,764.77
|
$
|
203,779,510.26
|
|||||
|
Weighted Average Coupon (WAC)
|
5.93%
|
|
5.95%
|
|
|||||
|
Weighted Average Remaining Term
|
187.26
|
189.19
|
|||||||
|
Number of Loans
|
17,440
|
16,687
|
|||||||
|
Number of Borrowers
|
7,867
|
7,546
|
|||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
7,986,209.67
|
$
|
7,794,479.46
|
|||||
|
Aggregate Outstanding Principal Balance - LIBOR
|
$
|
202,568,555.10
|
$
|
195,985,030.80
|
|||||
|
Pool Factor
|
0.262990139
|
0.254527613
|
|||||||
|
Since Issued Constant Prepayment Rate
|
0.46%
|
|
0.48%
|
|
|||||
| (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
|
02/27/2023
|
05/25/2023
|
|||||||
| A |
|
78444WAA7
|
$
|
69,627,115.13
|
$
|
60,595,251.76
|
|||||
|
C
|
Account Balances
|
02/27/2023
|
05/25/2023
|
||||||
|
Reserve Account Balance
|
$
|
1,200,450.00
|
$
|
1,200,450.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
D
|
Asset / Liability
|
02/27/2023
|
05/25/2023
|
||||||
|
Adjusted Pool Balance
|
$
|
210,554,764.77
|
$
|
203,779,510.26
|
|||||
|
Total Notes
|
$
|
69,627,115.13
|
$
|
60,595,251.76
|
|||||
|
Difference
|
$
|
140,927,649.64
|
$
|
143,184,258.50
|
|||||
|
Parity Ratio
|
3.02403
|
3.36296
|
|||||||
|
Page 2 of 9
|
Trust 2010-01 Quarterly Servicing Report: Collection Period 02/01/2023 - 04/30/2023, Distribution Date 05/25/2023
|
|
II.
|
Trust Activity 02/01/2023 through 04/30/2023
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
1,378,543.28
|
||||
|
Guarantor Principal
|
2,577,462.73
|
||||
|
Consolidation Activity Principal
|
4,561,630.61
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
161.07
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
8,244.03
|
||||
|
Total Principal Receipts
|
$
|
8,526,041.72
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
681,472.40
|
||||
|
Guarantor Interest
|
144,188.33
|
||||
|
Consolidation Activity Interest
|
270,907.26
|
||||
|
Special Allowance Payments
|
742,250.45
|
||||
|
Interest Subsidy Payments
|
101,356.98
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
5,426.05
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
34,645.02
|
||||
|
Total Interest Receipts
|
$
|
1,980,246.49
|
|||
|
C
|
Reserves in Excess of Requirement
|
-
|
|||
|
D
|
Investment Income
|
$
|
116,528.22
|
||
|
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
|
0.00
|
|||
| L |
Less: Funds Previously Remitted:
|
||||
|
Servicing Fees to Servicer
|
$
|
(50,836.50)
|
|
||
|
Consolidation Loan Rebate Fees to Dept. of Education
|
$
|
(406,183.49)
|
|
||
|
Floor Income Rebate Fees to Dept. of Education
|
$
|
(102,630.55)
|
|
||
| M |
AVAILABLE FUNDS
|
$
|
10,063,165.89
|
||
| N |
Non-Cash Principal Activity During Collection Period
|
$
|
(1,783,597.89)
|
|
|
| O |
Non-Reimbursable Losses During Collection Period
|
$
|
53,496.68
|
||
| P |
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
$ |
9,132.42
|
||
| Q |
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2010-01 Quarterly Servicing Report: Collection Period 02/01/2023 - 04/30/2023, Distribution Date 05/25/2023
|
|
III.
|
2010-01 Portfolio Characteristics
|
|
04/30/2023
|
01/31/2023
|
||||||||||||||||||||||||||||||||
|
Wtd Avg
Coupon |
# Loans
|
Principal
|
% of
Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
||||||||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
3.23%
|
|
66
|
$
|
293,803.43
|
0.145%
|
|
3.23%
|
|
66
|
$
|
293,803.43
|
0.141%
|
|
||||||||||||||||||
| DEFERMENT |
5.80%
|
|
960
|
$
|
9,166,158.55
|
4.535%
|
|
5.67% |
|
929
|
$
|
8,797,781.14
|
4.212%
|
|
|||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
5.85%
|
|
11,459
|
$
|
138,391,391.79
|
68.466%
|
|
5.79%
|
|
11,921
|
$
|
138,560,046.20
|
66.337%
|
|
||||||||||||||||||
|
31-60 DAYS DELINQUENT
|
6.37%
|
|
578
|
$
|
7,386,330.25
|
3.654%
|
|
6.40%
|
|
431
|
$
|
6,431,848.59
|
3.079%
|
|
|||||||||||||||||||
|
61-90 DAYS DELINQUENT
|
6.29%
|
|
318
|
$
|
4,759,445.63
|
2.355%
|
|
6.46%
|
|
309
|
$
|
4,448,783.50
|
2.130%
|
|
|||||||||||||||||||
|
91-120 DAYS DELINQUENT
|
6.22%
|
|
202
|
$
|
3,352,751.93
|
1.659%
|
|
6.77%
|
|
164
|
$
|
2,559,012.29
|
1.225%
|
|
|||||||||||||||||||
|
> 120 DAYS DELINQUENT
|
6.37%
|
|
617
|
$
|
8,741,753.80
|
4.325%
|
|
6.17% |
|
850
|
$
|
9,088,445.80
|
4.351%
|
|
|||||||||||||||||||
| FORBEARANCE |
6.18%
|
|
2,308
|
$
|
28,605,245.49
|
14.152%
|
|
6.30%
|
|
2,548
|
$
|
36,526,905.14
|
17.488%
|
|
|||||||||||||||||||
|
CLAIMS IN PROCESS
|
5.80%
|
|
179
|
$
|
1,435,004.78
|
0.710%
|
|
6.01% |
|
222
|
$
|
2,167,703.39
|
1.038%
|
|
|||||||||||||||||||
|
TOTAL
|
16,687
|
$
|
202,131,885.65
|
100.00%
|
|
17,440
|
$
|
208,874,329.48
|
100.00%
|
|
|||||||||||||||||||||||
|
Page 4 of 9
|
Trust 2010-01 Quarterly Servicing Report: Collection Period 02/01/2023 - 04/30/2023, Distribution Date 05/25/2023
|
|
IV.
|
2010-01 Portfolio Characteristics (cont’d)
|
|
04/30/2023
|
01/31/2023
|
|||||||
|
Pool Balance
|
$
|
203,779,510.26
|
$
|
210,554,764.77
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
11,305,207.40
|
$
|
11,415,222.37
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
1,647,624.61
|
$
|
1,680,435.29
|
||||
|
Total # Loans
|
16,687
|
17,440
|
||||||
|
Total # Borrowers
|
7,546
|
7,867
|
||||||
|
Weighted Average Coupon
|
5.95%
|
|
5.93%
|
|
||||
|
Weighted Average Remaining Term m
|
189.19
|
187.26
|
||||||
|
Non-Reimbursable Losses
|
$
|
53,496.68
|
$
|
45,973.79
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
5,405,216.89
|
$
|
5,351,720.21
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
0.48%
|
|
0.46%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
-
|
|
-
|
|||||
|
Unpaid Primary Servicing Fees
|
-
|
-
|
||||||
|
Unpaid Administration Fees
|
-
|
-
|
||||||
|
Unpaid Carryover Servicing Fees
|
-
|
-
|
||||||
|
Note Interest Shortfall
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
1,836,722.32
|
$
|
2,114,999.91
|
||||
|
Borrower Interest Accrued
|
$
|
2,824,823.36
|
$
|
3,018,072.11
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
92,114.28
|
$
|
98,563.39
|
||||
|
Special Allowance Payments Accrued
|
$
|
958,420.69
|
$
|
837,765.46
|
||||
|
Page 5 of 9
|
Trust 2010-01 Quarterly Servicing Report: Collection Period 02/01/2023 - 04/30/2023, Distribution Date 05/25/2023
|
|
V.
|
2010-01 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
- GSL (1) - Subsidized
|
5.44%
|
|
5,521
|
$
|
22,294,203.38
|
11.030%
|
|
||||||||||
|
- GSL - Unsubsidized
|
5.72%
|
|
4,286
|
30,530,953.47
|
15.104%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.41%
|
|
116
|
3,217,502.79
|
1.592%
|
|
|||||||||||
|
- SLS (3) Loans
|
6.24%
|
|
158
|
1,781,428.39
|
0.881%
|
|
|||||||||||
|
- Consolidation Loans
|
6.01%
|
|
6,606
|
144,307,797.62
|
71.393%
|
|
|||||||||||
|
Total
|
5.95%
|
|
16,687
|
$
|
202,131,885.65
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
||||||||||||
|
- Four Year
|
5.74%
|
|
8,306
|
$
|
50,095,946.21
|
24.784%
|
|
||||||||||
|
- Two Year
|
5.97%
|
|
1,476
|
6,300,538.75
|
3.117%
|
|
|||||||||||
|
- Technical
|
6.47%
|
|
294
|
1,410,496.29
|
0.698%
|
|
|||||||||||
|
- Other
|
6.01%
|
|
6,611
|
144,324,904.40
|
71.401%
|
|
|||||||||||
|
Total
|
5.95%
|
|
16,687
|
$
|
202,131,885.65
|
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 2010-01 Quarterly Servicing Report: Collection Period 02/01/2023 - 04/30/2023, Distribution Date 05/25/2023
|
|
VI.
|
2010-01 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
10,063,165.89
|
|||||||
|
A
|
Indenture trustee, administrator, indenture admin, owner trustee or eligible lender trustee fees
|
$
|
25,000.00
|
$
|
10,038,165.89
|
||||
|
B
|
Primary Servicing Fee
|
$
|
24,833.25
|
$
|
10,013,332.64
|
||||
|
C
|
Class A Noteholders’ Interest Distribution Amount
|
$
|
981,469.27
|
$
|
9,031,863.37
|
||||
|
D
|
Class A Noteholders’ Principal Distribution Amount
|
-
|
$
|
9,031,863.37
|
|||||
|
E
|
Reserve Account Reinstatement
|
-
|
$
|
9,031,863.37
|
|||||
| F |
Additional Principal Distribution Amount
|
$
|
9,031,863.37
|
$ |
0.00
|
||||
| G |
Carryover Servicing Fee
|
-
|
$ |
0.00
|
|||||
| H |
Unpaid Expenses of The Trustees + Irish Exchange
|
-
|
$ | 0.00 | |||||
|
I
|
Excess Distribution Certificateholder
|
-
|
$ |
0.00
|
|||||
|
Page 7 of 9
|
Trust 2010-01 Quarterly Servicing Report: Collection Period 02/01/2023 - 04/30/2023, Distribution Date 05/25/2023
|
|
VII.
|
2010-01 Distributions
|
| A | ||||
|
Cusip/Isin
|
78444WAA7
|
|||
|
Beginning Balance
|
$
|
69,627,115.13
|
||
|
Index
|
LIBOR
|
|||
|
Spread/Fixed Rate
|
0.875%
|
|
||
|
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
|||
|
Accrual Period Begin
|
2/27/2023
|
|||
|
Accrual Period End
|
5/25/2023
|
|||
|
Daycount Fraction
|
0.24166667
|
|||
|
Interest Rate*
|
5.83286%
|
|
||
|
Accrued Interest Factor
|
0.014096078
|
|||
|
Current Interest Due
|
$
|
981,469.27
|
||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
|||
|
Total Interest Due
|
$
|
981,469.27
|
||
|
Interest Paid
|
$
|
981,469.27
|
||
|
Interest Shortfall
|
-
|
|||
|
Principal Paid
|
$
|
9,031,863.37
|
||
|
Ending Principal Balance
|
$
|
60,595,251.76
|
||
|
Paydown Factor
|
0.010563583
|
|||
|
Ending Balance Factor
|
0.070871639
|
|||
|
Page 8 of 9
|
Trust 2010-01 Quarterly Servicing Report: Collection Period 02/01/2023 - 04/30/2023, Distribution Date 05/25/2023
|
|
VIII.
|
2010-01 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
69,627,115.13
|
|||
|
Adjusted Pool Balance
|
$
|
203,779,510.26
|
|||
|
Overcollateralization Amount
|
$
|
14,264,565.72
|
|||
|
Principal Distribution Amount
|
-
|
||||
|
Principal Distribution Amount Paid
|
$
|
9,031,863.37
|
|||
|
B
|
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
$
|
1,200,450.00
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
$
|
1,200,450.00
|
|||
|
Required Reserve Acct Balance
|
$
|
1,200,450.00
|
|||
|
Release to Collection Account
|
-
|
||||
|
Ending Reserve Account Balance
|
$
|
1,200,450.00
|
|||
|
C
|
Capitalized Interest Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
Page 9 of 9
|
Trust 2010-01 Quarterly Servicing Report: Collection Period 02/01/2023 - 04/30/2023, Distribution Date 05/25/2023
|