|
Page 1 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
08/26/2010
|
07/31/2025
|
08/31/2025
|
|||||||||
|
Principal Balance
|
$
|
679,589,352.80
|
$
|
105,876,906.99
|
$
|
104,972,805.05
|
|||||||
|
Interest to be Capitalized Balance
|
17,411,085.17
|
1,712,422.41
|
1,765,236.32
|
||||||||||
|
Pool Balance
|
$
|
697,000,437.97
|
$
|
107,589,329.40
|
$
|
106,738,041.37
|
|||||||
|
Capitalized Interest Account Balance
|
$
|
3,000,000.00
|
- | - | |||||||||
|
Specified Reserve Account Balance
|
3,768,055.00
|
- N/A -
|
- N/A -
|
||||||||||
|
Adjusted Pool (1)
|
$
|
703,768,492.97
|
$
|
107,589,329.40
|
$
|
106,738,041.37
|
|||||||
|
Weighted Average Coupon (WAC)
|
5.14%
|
|
6.82%
|
|
6.82%
|
|
|||||||
|
Number of Loans
|
193,647
|
14,964
|
14,770
|
||||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
21,919,445.61
|
$
|
21,676,853.44
|
|||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
85,669,883.79
|
$
|
85,061,187.93
|
|||||||||
|
Pool Factor
|
0.146443602 |
0.145284884 |
|||||||||||
|
Since Issued Constant Prepayment Rate
|
(39.47)%
|
|
(39.77)%
|
|
|||||||||
| (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 |
78446AAA3
|
$
|
80,210,329.40
|
$
|
79,359,041.37
|
||||||
| B |
78446AAB1
|
$
|
22,379,000.00
|
$
|
22,379,000.00
|
||||||
|
C
|
Account Balances
|
08/25/2025
|
09/25/2025
|
||||||
|
Reserve Account Balance
|
$
|
1,130,416.00
|
$
|
1,130,416.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
81,949.32
|
$
|
26,059.32
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
|
D
|
Asset / Liability
|
08/25/2025
|
09/25/2025
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
107,589,329.40
|
$
|
106,738,041.37
|
|||||
|
Total Notes
|
$
|
102,589,329.40
|
$
|
101,738,041.37
|
|||||
|
Difference
|
$
|
5,000,000.00
|
$
|
5,000,000.00
|
|||||
|
Parity Ratio
|
1.04874
|
1.04915
|
|||||||
|
Page 2 of 9
|
Trust 2010-2 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
|
204,702.73
|
||||
|
Guarantor Principal
|
509,911.32
|
||||
|
Consolidation Activity Principal
|
569,962.37
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
6,116.93
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
1,290,693.35
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
102,946.12
|
||||
|
Guarantor Interest
|
24,013.10
|
||||
|
Consolidation Activity Interest
|
26,013.25
|
||||
|
Special Allowance Payments
|
50,206.74
|
||||
|
Interest Subsidy Payments
|
74,370.54
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
371.76
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
20,104.05
|
||||
|
Total Interest Receipts
|
$
|
298,025.56
|
|||
|
C
|
Reserves in Excess of Requirement
|
-
|
|||
|
D
|
Investment Income
|
$
|
10,409.45
|
||
|
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
|
$
|
81,949.32
|
||
|
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
|
$
|
(82,439.73)
|
|
||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(26,059.32)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
1,572,578.63
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(386,591.41)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
13,375.55
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
-
|
|||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
III.
|
2010-2 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
|
6.80%
|
|
10
|
$
|
58,625.00
|
0.056%
|
|
6.80%
|
|
10
|
$
|
58,625.00
|
0.055% |
|
||||||||||||||||||
| GRACE |
7.46%
|
|
1
|
$
|
1,311.99
|
0.001%
|
|
7.46%
|
|
1
|
$
|
1,311.99
|
0.001% |
|
|||||||||||||||||||
|
DEFERMENT
|
6.80%
|
|
1,037
|
$
|
7,350,477.95
|
7.002%
|
|
6.79%
|
|
1,134
|
$
|
7,684,283.00 |
7.258% |
|
|||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.83%
|
|
8,976
|
$
|
57,811,304.90
|
55.073%
|
|
6.84%
|
|
8,915
|
$
|
58,348,011.52 |
55.109% |
|
||||||||||||||||||
|
31-60 DAYS DELINQUENT
|
6.85%
|
|
548
|
$
|
4,879,155.10
|
4.648%
|
|
6.76%
|
|
674
|
$
|
4,890,199.41 |
4.619% |
|
|||||||||||||||||||
|
61-90 DAYS DELINQUENT
|
6.78%
|
|
459
|
$
|
3,313,803.78
|
3.157%
|
|
6.85%
|
|
439
|
$
|
3,675,876.42 |
3.472% |
|
|||||||||||||||||||
|
91-120 DAYS DELINQUENT
|
6.83%
|
|
301
|
$
|
2,458,082.24
|
2.342%
|
|
6.83%
|
|
400
|
$
|
3,299,919.69 |
3.117% |
|
|||||||||||||||||||
|
> 120 DAYS DELINQUENT
|
6.82%
|
|
1,164
|
$
|
9,834,937.06
|
9.369%
|
|
6.82%
|
|
1,159
|
$
|
9,930,093.97 |
9.379% |
|
|||||||||||||||||||
| |
FORBEARANCE |
6.79%
|
|
2,100
|
$
|
17,624,426.97
|
16.790%
|
|
6.79%
|
|
2,087
|
$
|
16,811,703.51 |
15.879% |
|
||||||||||||||||||
|
CLAIMS IN PROCESS
|
6.91%
|
|
174
|
$
|
1,640,680.06
|
1.563%
|
|
6.95%
|
|
145
|
$
|
1,176,882.48 |
1.112% |
|
|||||||||||||||||||
|
TOTAL
|
14,770
|
$
|
104,972,805.05
|
100.00%
|
|
14,964
|
$
|
105,876,906.99 |
100.00% |
|
|||||||||||||||||||||||
|
Page 4 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
IV.
|
2010-2 Portfolio Characteristics (cont’d)
|
|
08/31/2025
|
07/31/2025
|
|||||||
|
Pool Balance
|
$
|
106,738,041.37
|
$
|
107,589,329.40
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
5,750,520.60
|
$
|
5,721,291.91
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
1,765,236.32
|
$
|
1,712,422.41
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
841,684.03
|
$
|
844,813.02
|
||||
|
Total # Loans
|
14,770
|
14,964
|
||||||
|
Total # Borrowers
|
6,510
|
6,587
|
||||||
|
Weighted Average Coupon
|
6.82%
|
|
6.82%
|
|
||||
|
Weighted Average Remaining Term
|
189.79
|
188.78
|
||||||
|
Non-Reimbursable Losses
|
$
|
13,375.55
|
$
|
18,023.44
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
6,653,970.67
|
$
|
6,640,595.12
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-39.77%
|
|
-39.47%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
-
|
-
|
||||||
|
Cumulative Rejected Claim Repurchases
|
$
|
1,998,784.46
|
$
|
1,998,784.46
|
||||
|
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
|
$
|
400,089.22
|
$
|
417,908.26
|
||||
|
Borrower Interest Accrued
|
$
|
584,841.79
|
$
|
591,561.06
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
24,534.36
|
$
|
23,530.33
|
||||
|
Special Allowance Payments Accrued
|
$
|
21,106.96
|
$
|
21,872.05
|
||||
|
Page 5 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
V.
|
2010-2 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
||||||||||||
|
- GSL (1) - Subsidized
|
6.67%
|
|
8,244
|
40,224,966.44
|
38.319%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.83%
|
|
6,206
|
59,499,014.70
|
56.680%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.05%
|
|
229
|
4,394,292.43
|
4.186%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.26%
|
|
91
|
854,531.48
|
0.814%
|
|
|||||||||||
|
- Consolidation Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
Total
|
6.82%
|
|
14,770
|
$
|
104,972,805.05
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
||||||||||||
|
- Four Year
|
6.84%
|
|
11,718
|
89,985,609.09
|
85.723%
|
|
|||||||||||
|
- Two Year
|
6.75%
|
|
2,165
|
10,715,504.43
|
10.208%
|
|
|||||||||||
|
- Technical
|
6.76%
|
|
877
|
4,265,828.43
|
4.064%
|
|
|||||||||||
|
- Other
|
6.85%
|
|
10
|
5,863.10
|
0.006%
|
|
|||||||||||
|
Total
|
6.82%
|
|
14,770
|
$
|
104,972,805.05
|
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 2010-2 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
VI.
|
2010-2 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
1,572,578.63
|
|||||||
| A | Trustee Fees |
|
- |
$
|
1,572,578.63
|
||||
|
B
|
Primary Servicing Fee
|
$
|
37,599.02
|
$
|
1,534,979.61
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
1,528,312.61
|
||||
|
D
|
Class A Noteholders’ Interest Distribution Amount
|
$
|
342,785.46
|
$
|
1,185,527.15
|
||||
|
E
|
Class B Noteholders’ Interest Distribution Amount
|
$ |
103,346.82
|
$
|
1,082,180.33
|
||||
|
F
|
Reserve Account Reinstatement
|
|
-
|
$ |
1,082,180.33
|
||||
|
G
|
Class A Noteholders’ Principal Distribution Amount
|
$ |
851,288.03
|
$ |
230,892.30
|
||||
|
H
|
Class B Noteholders’ Principal Distribution Amount
|
-
|
$ |
230,892.30
|
|||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
$ |
230,892.30
|
|||||
|
J
|
Carryover Servicing Fee
|
-
|
$ |
230,892.30
|
|||||
|
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$ |
230,892.30
|
|||||
| L |
Excess Distribution Certificateholder
|
$ | 230,892.30 |
- |
|||||
|
Waterfall Triggers
|
|||||
|
A
|
Student Loan Principal Outstanding
|
$
|
104,972,805.05
|
||
|
B
|
Interest to be Capitalized
|
$
|
1,765,236.32
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
1,130,416.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(1,130,416.00)
|
|
|
|
F
|
Total
|
$
|
106,738,041.37
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
79,359,041.37
|
||
|
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 2010-2 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
VII.
|
2010-2 Distributions
|
| A | B | |||||||
|
Cusip/Isin
|
78446AAA3
|
78446AAB1
|
||||||
|
Beginning Balance
|
$
|
80,210,329.40
|
$
|
22,379,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.50%
|
|
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*
|
4.96287%
|
|
5.36287%
|
|
||||
|
Accrued Interest Factor
|
0.004273582
|
0.004618027
|
||||||
|
Current Interest Due
|
$
|
342,785.46
|
$
|
103,346.82
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
342,785.46
|
$
|
103,346.82
|
||||
|
Interest Paid
|
$
|
342,785.46
|
$
|
103,346.82
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
851,288.03
|
-
|
|||||
|
Ending Principal Balance
|
$
|
79,359,041.37
|
$
|
22,379,000.00
|
||||
|
Paydown Factor
|
0.001153507
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.107532576
|
1.000000000
|
||||||
|
Page 8 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
VIII.
|
2010-2 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
102,589,329.40
|
|||
|
Adjusted Pool Balance
|
$
|
106,738,041.37
|
|||
|
Overcollateralization Amount
|
$
|
5,000,000.00
|
|||
|
Principal Distribution Amount
|
$
|
851,288.03
|
|||
|
Principal Distribution Amount Paid
|
$
|
851,288.03
|
|||
|
B
|
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
$
|
1,130,416.00
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
$
|
1,130,416.00
|
|||
|
Required Reserve Acct Balance
|
$
|
1,130,416.00
|
|||
|
Release to Collection Account
|
|
-
|
|||
|
Ending Reserve Account Balance
|
$
|
1,130,416.00
|
|||
|
C
|
Capitalized Interest Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
D
|
Floor Income Rebate Account
|
||||
|
Beginning Period Balance
|
$
|
81,949.32
|
|||
|
Deposits for the Period
|
$
|
26,059.32
|
|||
|
Release to Collection Account
|
$ |
(81,949.32)
|
|
||
|
Ending Balance
|
$
|
26,059.32
|
|||
|
E
|
Supplemental Purchase Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Supplemental Loan Purchases
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
Page 9 of 9
|
Trust 2010-2 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|