|
Page 1 of 9
|
Trust 2013-3 Monthly Servicing Report: Collection Period 04/01/2025 - 04/30/2025, Distribution Date 05/27/2025 |
| I. |
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
06/20/2013
|
03/31/2025
|
04/30/2025
|
|||||||||
|
Principal Balance
|
$
|
1,205,799,342.60
|
$
|
266,213,849.77
|
$
|
265,504,292.87
|
|||||||
|
Interest to be Capitalized Balance
|
25,233,370.46
|
2,796,114.48
|
2,814,406.12
|
||||||||||
|
Pool Balance
|
$
|
1,231,032,713.06
|
$
|
269,009,964.25
|
$
|
268,318,698.99
|
|||||||
|
Specified Reserve Account Balance
|
6,249,953.00
|
- N/A -
|
- N/A -
|
||||||||||
|
Adjusted Pool(1)
|
$
|
1,237,282,666.06
|
$
|
269,009,964.25
|
$
|
268,318,698.99
|
|||||||
|
Weighted Average Coupon (WAC)
|
6.58%
|
|
6.92%
|
|
6.92%
|
|
|||||||
|
Number of Loans
|
277,088
|
39,730
|
39,410
|
||||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
504,432.72
|
$
|
506,478.15
|
|||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
268,505,531.53
|
$
|
267,812,220.84
|
|||||||||
|
Pool Factor
|
0.215209573
|
0.214656556
|
|||||||||||
|
Since Issued Constant Prepayment Rate
|
(67.67)%
|
|
(69.73)%
|
|
|||||||||
|
(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
|
04/25/2025
|
05/27/2025
|
||||||
|
A3
|
78447YAC6
|
$
|
231,319,864.61
|
$
|
230,635,512.00
|
|||||
|
B
|
78447YAD4
|
$
|
35,000,000.00
|
$
|
35,000,000.00
|
|||||
|
C
|
Account Balances
|
04/25/2025
|
05/27/2025
|
||||||
|
Reserve Account Balance
|
$
|
1,249,991.00
|
$
|
1,249,991.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
137,857.03
|
$
|
205,335.27
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
|
D
|
Asset / Liability
|
04/25/2025
|
05/27/2025
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
269,009,964.25
|
$
|
268,318,698.99
|
|||||
|
Total Notes
|
$
|
266,319,864.61
|
$
|
265,635,512.00
|
|||||
|
Difference
|
$
|
2,690,099.64
|
$
|
2,683,186.99
|
|||||
|
Parity Ratio
|
1.01010
|
1.01010
|
|||||||
|
Page 2 of 9
|
Trust 2013-3 Monthly Servicing Report: Collection Period 04/01/2025 - 04/30/2025, Distribution Date 05/27/2025 |
| II. |
Trust Activity 04/01/2025 through 04/30/2025
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
547,600.78
|
||||
|
Guarantor Principal
|
1,212,871.05
|
||||
|
Consolidation Activity Principal
|
85,027.37
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
0.02
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
10,319.68
|
||||
|
Total Principal Receipts
|
$
|
1,855,818.90
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
325,972.54
|
||||
|
Guarantor Interest
|
42,921.71
|
||||
|
Consolidation Activity Interest
|
3,069.31
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
379.81
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
17,310.24
|
||||
|
Total Interest Receipts
|
$
|
389,653.61
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
|
D
|
Investment Income
|
$
|
14,498.47
|
||
|
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
|
$
|
(67,478.24)
|
|||
|
M
|
AVAILABLE FUNDS
|
$
|
2,192,492.74
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(1,146,262.00)
|
||
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
36,458.44
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
$ |
11,145.34
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2013-3 Monthly Servicing Report: Collection Period 04/01/2025 - 04/30/2025, Distribution Date 05/27/2025 |
| III. |
2013-3 Portfolio Characteristics
|
|
04/30/2025
|
03/31/2025
|
||||||||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
||||||||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.80%
|
|
49
|
$
|
270,430.06
|
0.102%
|
|
6.80%
|
|
49
|
$
|
270,430.06
|
0.102%
|
|
||||||||||||||||||
|
|
DEFERMENT
|
6.78%
|
|
2,329
|
$
|
15,317,450.00
|
5.769%
|
|
6.82%
|
|
2,302
|
$
|
14,888,510.70
|
5.593%
|
|
||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.93%
|
|
25,328
|
$
|
156,421,981.56
|
58.915%
|
|
6.92%
|
|
25,133
|
$
|
153,450,656.40
|
57.642%
|
|
||||||||||||||||||
|
|
31-60 DAYS DELINQUENT
|
6.92%
|
|
1,491
|
$
|
11,015,307.06
|
4.149%
|
|
6.91%
|
|
1,815
|
$
|
14,439,390.09
|
5.424%
|
|
||||||||||||||||||
|
|
61-90 DAYS DELINQUENT
|
6.89%
|
|
1,277
|
$
|
10,204,077.55
|
3.843%
|
|
6.93%
|
|
1,538
|
$
|
12,797,744.55
|
4.807%
|
|
||||||||||||||||||
|
|
91-120 DAYS DELINQUENT
|
6.94%
|
|
1,106
|
$
|
9,389,435.89
|
3.536%
|
|
6.97%
|
|
790
|
$
|
6,527,057.95
|
2.452%
|
|
||||||||||||||||||
|
|
> 120 DAYS DELINQUENT
|
6.91%
|
|
2,492
|
$
|
19,864,536.63
|
7.482%
|
|
6.90%
|
|
2,687
|
$
|
20,878,883.47
|
7.843%
|
|
||||||||||||||||||
|
|
FORBEARANCE
|
6.95%
|
|
5,078
|
$
|
41,145,911.55
|
15.497%
|
|
6.96%
|
|
5,130
|
$
|
40,952,272.25
|
15.383%
|
|
||||||||||||||||||
|
|
CLAIMS IN PROCESS
|
6.91%
|
|
260 |
$
|
1,875,162.57
|
0.706%
|
|
6.88%
|
|
286
|
$
|
2,008,904.30
|
0.755%
|
|
||||||||||||||||||
|
TOTAL
|
39,410 |
$
|
265,504,292.87 |
100.00% |
|
39,730 |
$
|
266,213,849.77 |
100.00% |
|
|||||||||||||||||||||||
|
Page 4 of 9
|
Trust 2013-3 Monthly Servicing Report: Collection Period 04/01/2025 - 04/30/2025, Distribution Date 05/27/2025 |
| IV. |
2013-3 Portfolio Characteristics (cont'd)
|
|
04/30/2025
|
03/31/2025
|
|||||||
|
Pool Balance
|
$
|
268,318,698.99
|
$
|
269,009,964.25
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
12,380,782.76
|
$
|
12,486,914.40
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
2,814,406.12
|
$
|
2,796,114.48
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,808,144.56
|
$
|
1,891,518.82
|
||||
|
Total # Loans
|
39,410
|
39,730
|
||||||
|
Total # Borrowers
|
16,356
|
16,507
|
||||||
|
Weighted Average Coupon
|
6.92%
|
|
6.92%
|
|
||||
|
Weighted Average Remaining Term
|
194.90
|
193.87
|
||||||
|
Non-Reimbursable Losses
|
$
|
36,458.44
|
$
|
20,608.19
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
6,225,237.15
|
$
|
6,188,778.71
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-69.73 %
|
|
-67.67 %
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
-
|
-
|
||||||
|
Cumulative Rejected Claim Repurchases
|
$
|
587,377.65
|
$
|
587,377.65
|
||||
|
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
|
$
|
1,182,929.79
|
$
|
1,115,240.32
|
||||
|
Borrower Interest Accrued
|
$
|
1,453,887.12
|
$
|
1,507,700.56
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
49,180.99
|
$
|
50,004.61
|
||||
|
Special Allowance Payments Accrued
|
$
|
49,891.04
|
$
|
51,026.92
|
||||
|
Page 5 of 9
|
Trust 2013-3 Monthly Servicing Report: Collection Period 04/01/2025 - 04/30/2025, Distribution Date 05/27/2025 |
| V. |
2013-3 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
% *
|
||||||||||||
|
- GSL (1) - Subsidized
|
6.81%
|
|
20,906
|
103,286,565.24
|
38.902%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.84%
|
|
17,738
|
148,005,115.68
|
55.745%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.50%
|
|
766
|
14,212,611.95
|
5.353%
|
|
|||||||||||
|
- SLS (3) Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
- Consolidation Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
Total
|
6.92%
|
|
39,410
|
$
|
265,504,292.87
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
% *
|
||||||||||||
|
- Four Year
|
6.92%
|
|
33,672
|
236,191,649.03
|
88.960%
|
|
|||||||||||
|
- Two Year
|
6.89%
|
|
4,881
|
24,889,946.94
|
9.375%
|
|
|||||||||||
|
- Technical
|
6.88%
|
|
818
|
4,237,297.24
|
1.596%
|
|
|||||||||||
|
- Other
|
7.10%
|
|
39
|
185,399.66
|
0.070%
|
|
|||||||||||
|
Total
|
6.92%
|
|
39,410
|
$
|
265,504,292.87
|
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 2013-3 Monthly Servicing Report: Collection Period 04/01/2025 - 04/30/2025, Distribution Date 05/27/2025 |
| VI. |
2013-3 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance |
||||||||
|
Total Available Funds
|
$
|
2,192,492.74
|
|||||||
| A |
Trustee Fees |
- |
$ |
2,192,492.74 |
|||||
|
B
|
Primary Servicing Fee
|
$
|
81,502.40
|
$
|
2,110,990.34
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
2,104,323.34
|
||||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
1,021,543.48
|
$
|
1,082,779.86
|
||||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
185,676.40
|
$
|
897,103.46
|
||||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
897,103.46
|
|||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
684,352.61
|
$
|
212,750.85
|
||||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$
|
212,750.85
|
|||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
$
|
212,750.85
|
|||||
|
J
|
Carryover Servicing Fee
|
-
|
$
|
212,750.85
|
|||||
|
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$
|
212,750.85
|
|||||
|
L
|
Excess Distribution Certificateholder
|
$
|
212,750.85
|
$ |
0.00
|
||||
|
Waterfall Triggers
|
|||||
|
A
|
Student Loan Principal Outstanding
|
$
|
265,504,292.87
|
||
|
B
|
Interest to be Capitalized
|
$
|
2,814,406.12
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
1,249,991.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(1,249,991.00)
|
||
|
F
|
Total
|
$
|
268,318,698.99
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
230,635,512.00
|
||
|
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 2013-3 Monthly Servicing Report: Collection Period 04/01/2025 - 04/30/2025, Distribution Date 05/27/2025 |
| VII. |
2013-3 Distributions
|
|
A3
|
B
|
|||||||||
|
Cusip/Isin
|
78447YAC6
|
78447YAD4
|
||||||||
|
Beginning Balance
|
$
|
231,319,864.61
|
$
|
35,000,000.00
|
||||||
|
Index
|
SOFR
|
SOFR
|
||||||||
|
Spread/Fixed Rate
|
0.50%
|
|
1.50% |
|
||||||
|
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
1 NEW YORK BUSINESS DAY
|
||||||||
|
Accrual Period Begin
|
4/25/2025
|
4/25/2025
|
||||||||
|
Accrual Period End
|
5/27/2025
|
5/27/2025
|
||||||||
|
Daycount Fraction
|
0.08888889
|
0.08888889
|
||||||||
|
Interest Rate*
|
4.96817%
|
|
5.96817%
|
|
||||||
|
Accrued Interest Factor
|
0.004416151
|
0.005305040
|
||||||||
|
Current Interest Due
|
$
|
1,021,543.48
|
$
|
185,676.40
|
||||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||||
|
Total Interest Due
|
$
|
1,021,543.48
|
$
|
185,676.40
|
||||||
|
Interest Paid
|
$
|
1,021,543.48
|
$
|
185,676.40
|
||||||
|
Interest Shortfall
|
-
|
-
|
||||||||
|
Principal Paid
|
$
|
684,352.61
|
-
|
|||||||
|
Ending Principal Balance
|
$
|
230,635,512.00
|
$
|
35,000,000.00
|
||||||
|
Paydown Factor
|
0.001079421
|
0.000000000
|
||||||||
|
Ending Balance Factor
|
0.363778410
|
1.000000000
|
||||||||
|
Page 8 of 9
|
Trust 2013-3 Monthly Servicing Report: Collection Period 04/01/2025 - 04/30/2025, Distribution Date 05/27/2025 |
| VIII. |
2013-3 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
266,319,864.61
|
|||
|
Adjusted Pool Balance
|
$
|
268,318,698.99
|
|||
|
Overcollateralization Amount
|
$
|
2,683,186.99
|
|||
|
Principal Distribution Amount
|
$
|
684,352.61
|
|||
|
Principal Distribution Amount Paid
|
$
|
684,352.61
|
|||
|
B
|
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
$
|
1,249,991.00
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
$
|
1,249,991.00
|
|||
|
Required Reserve Acct Balance
|
$
|
1,249,991.00
|
|||
|
Release to Collection Account
|
|
-
|
|||
|
Ending Reserve Account Balance
|
$
|
1,249,991.00
|
|||
|
C
|
Floor Income Rebate Account
|
||||
|
Beginning Period Balance
|
$
|
137,857.03
|
|||
|
Deposits for the Period
|
$
|
67,478.24
|
|||
|
Release to Collection Account
|
-
|
||||
|
Ending Balance
|
$
|
205,335.27
|
|||
|
D
|
Supplemental Purchase Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Supplemental Loan Purchases
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
Page 9 of 9
|
Trust 2013-3 Monthly Servicing Report: Collection Period 04/01/2025 - 04/30/2025, Distribution Date 05/27/2025 |