|
Page 1 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
11/08/2012 |
07/31/2025 |
08/31/2025 |
||||||||
|
Principal Balance
|
$
|
1,189,615,212.08 |
$
|
239,002,202.68 |
$
|
237,702,940.70 |
||||||
|
Interest to be Capitalized Balance
|
29,184,856.28 |
3,231,862.64 |
3,303,328.37 |
|||||||||
|
Pool Balance
|
$
|
1,218,800,068.36 |
$
|
242,234,065.32 |
$
|
241,006,269.07 |
||||||
|
Capitalized Interest Account Balance
|
$
|
10,000,000.00 |
- |
- |
||||||||
|
Specified Reserve Account Balance
|
3,121,961.00 |
- N/A - |
- N/A - | |||||||||
|
Adjusted Pool (1)
|
$
|
1,231,922,029.36 |
$
|
242,234,065.32 |
$
|
241,006,269.07 |
||||||
|
Weighted Average Coupon (WAC)
|
6.76% |
|
6.89% |
|
6.89% |
|
||||||
|
Number of Loans
|
283,078 |
34,914 |
34,559 |
|||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
337,609.62 |
$
|
337,796.93 |
||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
241,896,455.70
|
$
|
240,668,472.14
|
||||||||
|
Pool Factor
|
0.193975880 |
0.192992687 |
||||||||||
|
Since Issued Constant Prepayment Rate
|
(77.72)% |
|
(77.93)% |
|
||||||||
| (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
|
||||||
|
A3
|
78447KAC6
|
$
|
202,311,724.67
|
$
|
201,096,206.38
|
|||||
| B |
78447KAD4
|
$
|
37,500,000.00
|
$
|
37,500,000.00
|
|||||
|
C
|
Account Balances
|
08/25/2025
|
09/25/2025
|
||||||
|
Reserve Account Balance
|
$
|
1,248,784.00
|
$
|
1,248,784.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
233,793.52
|
$
|
74,511.09
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
|
D
|
Asset / Liability
|
08/25/2025
|
09/25/2025
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
242,234,065.32
|
$
|
241,006,269.07
|
|||||
|
Total Notes
|
$
|
239,811,724.67
|
$
|
238,596,206.38
|
|||||
|
Difference
|
$
|
2,422,340.65
|
$
|
2,410,062.69
|
|||||
|
Parity Ratio
|
1.01010
|
1.01010
|
|||||||
|
Page 2 of 9
|
Trust 2012-7 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
|
537,910.76
|
||||
|
Guarantor Principal
|
790,514.97
|
||||
|
Consolidation Activity Principal
|
869,315.80
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
2,197,741.53
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
279,130.00
|
||||
|
Guarantor Interest
|
31,375.00
|
||||
|
Consolidation Activity Interest
|
21,137.49
|
||||
|
Special Allowance Payments
|
117,402.50
|
||||
|
Interest Subsidy Payments
|
146,204.78
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
0.00
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
22,387.47
|
||||
|
Total Interest Receipts
|
$
|
617,637.24
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
| D |
Investment Income
|
$
|
16,388.51
|
||
|
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
|
$ |
233,793.52
|
||
|
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
|
$ |
(235,472.81)
|
|
||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(74,511.09)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
2,755,576.90
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(898,479.55)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
20,899.22
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
-
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
III.
|
2012-7 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
|
6.73%
|
|
56
|
$
|
252,501.42
|
0.106%
|
|
6.73%
|
|
56
|
$
|
260,669.42
|
0.109%
|
|
||||||||||||
|
GRACE
|
6.80%
|
|
9
|
$
|
70,875.00
|
0.030%
|
|
6.80%
|
|
7
|
$
|
50,375.00
|
0.021%
|
|
|||||||||||||
|
DEFERMENT
|
6.83%
|
|
2,186
|
$
|
13,882,140.36
|
5.840%
|
|
6.81%
|
|
2,329
|
$
|
14,660,497.60
|
6.134%
|
|
|||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.89%
|
|
21,462
|
$
|
134,615,478.58
|
56.632%
|
|
6.89%
|
|
21,473
|
$
|
133,300,394.37
|
55.774%
|
|
||||||||||||
|
31-60 DAYS DELINQUENT
|
6.88%
|
|
1,410
|
$
|
10,694,592.46
|
4.499%
|
|
6.89%
|
|
1,553
|
$
|
12,637,592.69
|
5.288%
|
|
|||||||||||||
|
61-90 DAYS DELINQUENT
|
6.91%
|
|
1,044
|
$
|
8,554,014.00
|
3.599%
|
|
6.92%
|
|
995
|
$
|
7,968,608.35
|
3.334%
|
|
|||||||||||||
|
91-120 DAYS DELINQUENT
|
6.88%
|
|
630
|
$
|
4,859,363.41
|
2.044%
|
|
6.90%
|
|
685
|
$
|
5,720,792.37
|
2.394%
|
|
|||||||||||||
|
> 120 DAYS DELINQUENT
|
6.93%
|
|
2,613
|
$
|
21,324,845.46
|
8.971%
|
|
6.93%
|
|
2,653
|
$
|
21,038,470.27
|
8.803%
|
|
|||||||||||||
|
FORBEARANCE
|
6.91%
|
|
4,841
|
$
|
40,821,420.85
|
17.173%
|
|
6.91%
|
|
4,911
|
$
|
41,229,459.07
|
17.251%
|
|
|||||||||||||
|
CLAIMS IN PROCESS
|
7.03%
|
|
308
|
$
|
2,627,709.16
|
1.105%
|
|
6.99%
|
|
252
|
$
|
2,135,343.54
|
0.893%
|
|
|||||||||||||
|
TOTAL
|
34,559
|
$
|
237,702,940.70
|
100.00%
|
|
34,914
|
$
|
239,002,202.68
|
100.00%
|
|
|||||||||||||||||
|
*
|
Percentages may not total 100% due to rounding
|
|
Page 4 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
IV.
|
2012-7 Portfolio Characteristics (cont'd)
|
|
08/31/2025
|
07/31/2025
|
|||||||
|
Pool Balance
|
$
|
241,006,269.07
|
$
|
242,234,065.32
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
11,861,077.74
|
$
|
11,776,084.19
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
3,303,328.37
|
$
|
3,231,862.64
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,700,377.10
|
$
|
1,665,738.30
|
||||
|
Total # Loans
|
34,559
|
34,914
|
||||||
|
Total # Borrowers
|
15,586
|
15,764
|
||||||
|
Weighted Average Coupon
|
6.89%
|
|
6.89%
|
|
||||
|
Weighted Average Remaining Term
|
196.79
|
196.18
|
||||||
|
Non-Reimbursable Losses
|
$
|
20,899.22
|
$
|
23,140.75
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
7,370,004.80
|
$
|
7,349,105.58
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-77.93%
|
|
-77.72%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
|
-
|
-
|
|||||
|
Cumulative Rejected Claim Repurchases
|
$
|
364,278.81
|
$
|
364,278.81
|
||||
|
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
|
$
|
919,610.90
|
$
|
1,002,600.35
|
||||
|
Borrower Interest Accrued
|
$
|
1,336,359.81
|
$
|
1,344,799.99
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
48,397.79
|
$
|
49,602.61
|
||||
|
Special Allowance Payments Accrued
|
$
|
43,552.29
|
$
|
43,589.66
|
||||
|
Page 5 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
V.
|
2012-7 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|||||||||||
|
- GSL (1) - Subsidized
|
6.77%
|
18,315
|
90,705,038.95
|
38.159%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.79%
|
15,485
|
131,033,151.61
|
55.125%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.48%
|
757
|
15,957,591.59
|
6.713%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.19%
|
2
|
7,158.55
|
0.003%
|
|
|||||||||||
|
- Consolidation Loans
|
0.00%
|
0
|
-
|
0.000%
|
|
|||||||||||
|
Total
|
6.89%
|
34,559
|
$
|
237,702,940.70
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|||||||||||
|
- Four Year
|
6.90%
|
28,795
|
207,279,306.97
|
87.201%
|
|
|||||||||||
|
- Two Year
|
6.82%
|
4,652
|
24,527,988.39
|
10.319%
|
|
|||||||||||
|
- Technical
|
6.84%
|
1,089
|
5,732,451.98
|
2.412%
|
|
|||||||||||
|
- Other
|
6.79%
|
23
|
163,193.36
|
0.069%
|
|
|||||||||||
|
Total
|
6.89%
|
34,559
|
$
|
237,702,940.70
|
100.000%
|
|
||||||||||
|
*
|
Percentages may not total 100% due to rounding.
|
| (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 2012-7 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
VI.
|
2012-7 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
|||||||
|
Total Available Funds
|
$
|
2,755,576.90
|
||||||
| A |
Trustee Fees |
- |
$ |
2,755,576.90 |
||||
|
B
|
Primary Servicing Fee
|
$
|
79,568.23
|
$
|
2,676,008.67
|
|||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
2,669,341.67
|
|||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
890,727.78
|
$
|
1,778,613.89
|
|||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
202,238.51
|
$
|
1,576,375.38
|
|||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
1,576,375.38
|
||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
1,215,518.29
|
$ |
360,857.09
|
|||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$ |
360,857.09
|
||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
$ |
360,857.09
|
||||
|
J
|
Carryover Servicing Fee
|
-
|
$ |
360,857.09
|
||||
|
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$ |
360,857.09
|
||||
|
L
|
Excess Distribution Certificateholder
|
$ |
360,857.09
|
-
|
||||
|
Waterfall Triggers
|
|||||
|
A
|
Student Loan Principal Outstanding
|
$
|
237,702,940.70
|
||
|
B
|
Interest to be Capitalized
|
$
|
3,303,328.37
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
1,248,784.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(1,248,784.00)
|
|
|
|
F
|
Total
|
$
|
241,006,269.07
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
201,096,206.38
|
||
|
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 2012-7 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
VII.
|
2012-7 Distributions
|
|
A3
|
B |
|
||||||
|
Cusip/Isin
|
78447KAC6
|
78447KAD4
|
||||||
|
Beginning Balance
|
$
|
202,311,724.67
|
$
|
37,500,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.65%
|
|
1.80%
|
|
||||
|
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*
|
5.11287%
|
|
6.26287%
|
|
||||
|
Accrued Interest Factor
|
0.004402749
|
0.005393027
|
||||||
|
Current Interest Due
|
$
|
890,727.78
|
$
|
202,238.51
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
890,727.78
|
$
|
202,238.51
|
||||
|
Interest Paid
|
$
|
890,727.78
|
$
|
202,238.51
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
1,215,518.29
|
-
|
|||||
|
Ending Principal Balance
|
$
|
201,096,206.38
|
$
|
37,500,000.00
|
||||
|
Paydown Factor
|
0.002113945
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.349732533
|
1.000000000
|
||||||
|
*
|
Pay rates for Current Distribution. For the interest rates applicable to the next distribution date, please see https://images.navient.com/investors/data/abrate.txt.
|
|
Page 8 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
|
VIII.
|
2012-7 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
239,811,724.67
|
|||
|
Adjusted Pool Balance
|
$
|
241,006,269.07
|
|||
|
Overcollateralization Amount
|
$
|
2,410,062.69
|
|||
|
Principal Distribution Amount
|
$
|
1,215,518.29
|
|||
|
Principal Distribution Amount Paid
|
$
|
1,215,518.29
|
|||
| B |
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
$
|
1,248,784.00
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
$
|
1,248,784.00
|
|||
|
Required Reserve Acct Balance
|
$
|
1,248,784.00
|
|||
|
Release to Collection Account
|
|
-
|
|||
|
Ending Reserve Account Balance
|
$
|
1,248,784.00
|
|||
| C |
Capitalized Interest Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
| D |
Floor Income Rebate Account
|
||||
|
Beginning Period Balance
|
$
|
233,793.52
|
|||
|
Deposits for the Period
|
$
|
74,511.09
|
|||
|
Release to Collection Account
|
$ |
(233,793.52)
|
|
||
|
Ending Balance
|
$
|
74,511.09
|
|||
| E |
Supplemental Purchase Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Supplemental Loan Purchases
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
Page 9 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|