|
Page 1 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
I.
|
Deal Parameters
|
| A |
Student Loan Portfolio Characteristics
|
04/15/2010
|
07/31/2025 |
08/31/2025
|
|||||||||
|
Principal Balance
|
$
|
1,169,871,248.94
|
$
|
109,455,101.74
|
$
|
109,026,782.30
|
|||||||
|
Interest to be Capitalized Balance
|
12,910,478.57
|
1,187,336.75
|
1,254,852.84
|
||||||||||
|
Pool Balance
|
$
|
1,182,781,727.51
|
$
|
110,642,438.49
|
$
|
110,281,635.14
|
|||||||
|
Capitalized Interest Account Balance
|
$
|
7,500,000.00
|
-
|
-
|
|||||||||
|
Specified Reserve Account Balance
|
3,028,129.00
|
- N/A -
|
- N/A -
|
||||||||||
|
Adjusted Pool (1)
|
$
|
1,193,309,856.51
|
$
|
110,642,438.49
|
$
|
110,281,635.14
|
|||||||
|
Weighted Average Coupon (WAC)
|
2.60%
|
|
6.73%
|
|
6.73%
|
|
|||||||
|
Number of Loans
|
482,706
|
27,484
|
27,233
|
||||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
22,168,346.13
|
$
|
22,046,805.78
|
|||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
88,474,092.36
|
$
|
88,234,829.36
|
|||||||||
|
Pool Factor
|
0.091345553
|
0.091047677
|
|||||||||||
|
Since Issued Constant Prepayment Rate
|
(40.06)%
|
|
(40.32)%
|
|
|||||||||
| (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
|
08/25/2025
|
09/25/2025
|
||||||
| A |
78445XAA4
|
$
|
66,198,491.20
|
$
|
65,358,736.29
|
|||||
| B |
78445XAB2
|
$
|
36,780,000.00
|
$
|
36,780,000.00
|
|||||
| C |
Account Balances
|
08/25/2025
|
09/25/2025
|
||||||
|
Reserve Account Balance
|
|
-
|
|
-
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
4,824.40
|
$
|
1,444.82
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
| D |
Asset / Liability
|
08/25/2025
|
09/25/2025
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
110,642,438.49
|
$
|
110,281,635.14
|
|||||
|
Total Notes
|
$
|
102,978,491.20
|
$
|
102,138,736.29
|
|||||
|
Difference
|
$
|
7,663,947.29
|
$
|
8,142,898.85
|
|||||
|
Parity Ratio
|
1.07442
|
1.07972
|
|||||||
|
Page 2 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
II.
|
Trust Activity 08/01/2025 through 08/31/2025
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
274,658.01
|
||||
|
Guarantor Principal
|
306,457.73
|
||||
|
Consolidation Activity Principal
|
274,919.38
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
856,035.12
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
128,387.33
|
||||
|
Guarantor Interest
|
24,109.68
|
||||
|
Consolidation Activity Interest
|
7,274.56
|
||||
|
Special Allowance Payments
|
61,580.35
|
||||
|
Interest Subsidy Payments
|
94,951.03
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
19.50
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
12,724.80
|
||||
|
Total Interest Receipts
|
$
|
329,047.25
|
|||
|
C
|
Reserves in Excess of Requirement
|
-
|
|||
|
D
|
Investment Income
|
$
|
4,326.94
|
||
| 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
|
$ |
4,824.40
|
||
| 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
|
$ |
(4,942.13)
|
|
||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(1,444.82)
|
|
||
| M |
AVAILABLE FUNDS
|
$
|
1,187,846.76
|
||
| N |
Non-Cash Principal Activity During Collection Period
|
$ | (427,715.68) | ||
| O |
Non-Reimbursable Losses During Collection Period
|
$
|
5,640.44
|
||
| P |
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
-
|
||
| Q |
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
III.
|
2010-1 Portfolio Characteristics
|
|
08/31/2025
|
07/31/2025
|
|||||||||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of Principal
|
|||||||||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.54%
|
|
28
|
$
|
94,199.46
|
0.086%
|
|
6.57%
|
|
26
|
$
|
88,949.46
|
0.081%
|
|
|||||||||||||||||||
|
GRACE
|
0.00%
|
|
0
|
|
- |
0.000%
|
|
6.06%
|
|
2
|
$
|
5,250.00
|
0.005%
|
|
||||||||||||||||||||
|
DEFERMENT
|
6.20%
|
|
1,789
|
$
|
7,154,180.42
|
6.562%
|
|
6.19%
|
|
1,859
|
$
|
7,455,154.06
|
6.811%
|
|
||||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.77%
|
|
17,237
|
$
|
63,914,434.61
|
58.623%
|
|
6.77%
|
|
17,427
|
$
|
64,206,787.43
|
58.660%
|
|
|||||||||||||||||||
|
31-60 DAYS DELINQUENT
|
6.74%
|
|
1,184
|
$
|
5,208,015.67
|
4.777%
|
|
6.75%
|
|
1,260
|
$
|
5,718,570.40
|
5.225%
|
|
||||||||||||||||||||
|
61-90 DAYS DELINQUENT
|
6.74%
|
|
827
|
$
|
3,815,965.28
|
3.500%
|
|
6.75%
|
|
793
|
$
|
3,714,505.58
|
3.394%
|
|
||||||||||||||||||||
|
91-120 DAYS DELINQUENT
|
6.74%
|
|
476
|
$
|
2,106,328.26
|
1.932%
|
|
6.77%
|
|
495
|
$
|
2,188,695.74
|
2.000%
|
|
||||||||||||||||||||
|
> 120 DAYS DELINQUENT
|
6.78%
|
|
1,817
|
$
|
8,176,243.43
|
7.499%
|
|
6.80%
|
|
1,883
|
$
|
8,502,601.44
|
7.768%
|
|
||||||||||||||||||||
|
FORBEARANCE
|
6.78%
|
|
3,563
|
$
|
17,097,126.88
|
15.682%
|
|
6.78%
|
|
3,527
|
$
|
16,725,129.07
|
15.280%
|
|
||||||||||||||||||||
|
CLAIMS IN PROCESS
|
6.81%
|
|
312
|
$
|
1,460,288.29
|
1.339%
|
|
6.79%
|
|
212
|
$
|
849,458.56
|
0.776%
|
|
||||||||||||||||||||
|
TOTAL
|
27,233
|
$
|
109,026,782.30
|
100.00%
|
|
27,484
|
$
|
109,455,101.74
|
100.00%
|
|
||||||||||||||||||||||||
|
Page 4 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
IV.
|
2010-1 Portfolio Characteristics (cont’d)
|
|
08/31/2025
|
07/31/2025
|
|||||||
|
Pool Balance
|
$
|
110,281,635.14
|
$
|
110,642,438.49
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
5,902,172.61
|
$
|
5,904,246.63
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
1,254,852.84
|
$
|
1,187,336.75
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
797,329.05
|
$
|
797,486.70
|
||||
|
Total # Loans
|
27,233
|
27,484
|
||||||
|
Total # Borrowers
|
10,240
|
10,346
|
||||||
|
Weighted Average Coupon
|
6.73%
|
|
6.73%
|
|
||||
|
Weighted Average Remaining Term
|
202.83
|
202.20
|
||||||
|
Non-Reimbursable Losses
|
$
|
5,640.44
|
$
|
6,869.12
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
6,881,045.26
|
$
|
6,875,404.82
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-40.32 %
|
|
-40.06 %
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
-
|
-
|
||||||
|
Cumulative Rejected Claim Repurchases
|
$
|
3,858,431.10
|
$
|
3,858,431.10
|
||||
|
Unpaid Primary Servicing Fees
|
-
|
-
|
||||||
|
Unpaid Administration Fees
|
-
|
-
|
||||||
|
Unpaid Carryover Servicing Fees
|
-
|
-
|
||||||
|
Note Principal Shortfall
|
$ |
65,358,736.29
|
$ |
66,198,491.20
|
||||
|
Note Interest Shortfall
|
$ |
1,175,286.14
|
$ |
1,000,813.33
|
||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
433,474.55
|
$
|
441,581.96
|
||||
|
Borrower Interest Accrued
|
$
|
592,450.36
|
$
|
595,500.42
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
28,314.37
|
$
|
28,075.41
|
||||
|
Special Allowance Payments Accrued
|
$
|
38,402.54
|
$
|
39,747.39
|
||||
|
Page 5 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
V.
|
2010-1 Portfolio Statistics by School and Program
|
| A |
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
- GSL (1) - Subsidized
|
6.73%
|
|
16,429
|
52,799,792.74
|
48.428%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.69%
|
|
10,444
|
52,649,466.43
|
48.290%
|
|
|||||||||||
|
- PLUS (2) Loans
|
7.44%
|
|
306
|
3,128,171.97
|
2.869%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.25%
|
|
54
|
449,351.16
|
0.412%
|
|
|||||||||||
|
- Consolidation Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
Total
|
6.73%
|
|
27,233
|
$
|
109,026,782.30
|
100.000%
|
|
||||||||||
| B |
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|
|||||||||||
|
- Four Year
|
6.73%
|
|
20,409
|
87,984,767.53
|
80.700%
|
|
|||||||||||
|
- Two Year
|
6.72%
|
|
5,189
|
15,897,244.85
|
14.581%
|
|
|||||||||||
|
- Technical
|
6.75%
|
|
1,542
|
4,849,824.35
|
4.448%
|
|
|||||||||||
|
- Other
|
6.74%
|
|
93
|
294,945.57
|
0.271%
|
|
|||||||||||
|
Total
|
6.73%
|
|
27,233
|
$
|
109,026,782.30
|
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 2010-1 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
VI.
|
2010-1 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
1,187,846.76
|
|||||||
|
A
|
Trustee Fees |
|
-
|
$
|
1,187,846.76
|
||||
|
B
|
Primary Servicing Fee
|
$
|
64,220.56
|
$
|
1,123,626.20
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
1,116,959.20
|
||||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
277,204.29
|
$
|
839,754.91
|
||||
| E |
Class B Noteholders' Interest Distribution Amount
|
|
-
|
$ |
839,754.91
|
||||
| F |
Class A Noteholders' Principal Distribution Amount
|
$ |
839,754.91
|
-
|
|||||
| G |
Class B Noteholders' Principal Distribution Amount
|
-
|
-
|
||||||
| H |
Reserve Account Reinstatement
|
-
|
-
|
||||||
| I |
Unpaid Expenses of The Trustees
|
-
|
-
|
||||||
| J |
Carryover Servicing Fee
|
-
|
-
|
||||||
| K |
Remaining Amounts to the Noteholders after the first auction date
|
-
|
-
|
||||||
| L |
Excess Distribution Certificateholder
|
- |
- |
||||||
|
Waterfall Triggers
|
||||||
|
A
|
Student Loan Principal Outstanding
|
$
|
109,026,782.30
|
|||
|
B
|
Interest to be Capitalized
|
$
|
1,254,852.84
|
|||
|
C
|
Capitalized Interest Account Balance
|
-
|
||||
|
D
|
Reserve Account Balance (after any reinstatement)
|
|
-
|
|||
| E |
Less: Specified Reserve Account Balance
|
$
|
(1,211,252.00)
|
|
||
| F |
Total
|
$
|
109,070,383.14
|
|||
| G |
Class A Notes Outstanding (after application of available funds)
|
$
|
65,358,736.29
|
|||
| H |
Insolvency Event or Event of Default Under Indenture
|
Y |
|
|||
| 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)
|
Y |
|
|||
|
Page 7 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
VII.
|
2010-1 Distributions
|
| A |
|
B |
|
|||||
|
Cusip/Isin
|
78445XAA4
|
78445XAB2
|
||||||
|
Beginning Balance
|
$
|
66,198,491.20
|
$
|
36,780,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.40%
|
|
0.90%
|
|
||||
|
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
1 NEW YORK BUSINESS DAY
|
||||||
|
Accrual Period Begin
|
8/25/2025
|
8/25/2025
|
||||||
|
Accrual Period End
|
9/25/2025
|
9/25/2025
|
||||||
|
Daycount Fraction
|
0.08611111
|
0.08611111
|
||||||
|
Interest Rate*
|
4.86287%
|
|
5.36287%
|
|
||||
|
Accrued Interest Factor
|
0.004187471
|
0.000000000
|
||||||
|
Current Interest Due
|
$
|
277,204.29
|
$
|
1,175,286.14
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
$ |
1,005,435.11
|
|||||
|
Total Interest Due
|
$
|
277,204.29
|
$
|
1,175,286.14
|
||||
|
Interest Paid
|
$
|
277,204.29
|
|
-
|
||||
|
Interest Shortfall
|
-
|
$ |
1,175,286.14
|
|||||
|
Principal Paid
|
$
|
839,754.91
|
-
|
|||||
|
Ending Principal Balance
|
$
|
65,358,736.29
|
$
|
36,780,000.00
|
||||
|
Paydown Factor
|
0.000708654
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.055155052
|
1.000000000
|
||||||
|
Page 8 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
VIII.
|
2010-1 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
102,978,491.20
|
|||
|
Adjusted Pool Balance
|
$
|
110,281,635.14
|
|||
|
Overcollateralization Amount
|
$
|
3,000,000.00
|
|||
|
Principal Distribution Amount
|
$
|
66,198,491.20
|
|||
|
Principal Distribution Amount Paid
|
$
|
839,754.91
|
|||
| B |
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
|
-
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
-
|
||||
|
Required Reserve Acct Balance
|
$
|
1,211,252.00
|
|||
|
Release to Collection Account
|
-
|
||||
|
Ending Reserve Account Balance
|
|
-
|
|||
| C |
Capitalized Interest Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
| D |
Floor Income Rebate Account
|
||||
|
Beginning Period Balance
|
$
|
4,824.40
|
|||
|
Deposits for the Period
|
$
|
1,444.82
|
|||
|
Release to Collection Account
|
$ |
(4,824.40)
|
|
||
|
Ending Balance
|
$
|
1,444.82
|
|||
| E |
Supplemental Purchase Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Supplemental Loan Purchases
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
Page 9 of 9
|
Trust 2010-1 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|