|
Page 1 of 9
|
Trust 2014-6 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
| I. |
Deal Parameters
|
| A |
Student Loan Portfolio Characteristics
|
08/14/2014
|
07/31/2025
|
08/31/2025
|
|||||||||
|
Principal Balance
|
$
|
154,772,903.21
|
$
|
46,656,430.58
|
$
|
46,429,467.61
|
|||||||
|
Interest to be Capitalized Balance
|
729,738.48
|
139,444.10
|
153,785.45
|
||||||||||
|
Pool Balance
|
$
|
155,502,641.69
|
$
|
46,795,874.68
|
$
|
46,583,253.06
|
|||||||
|
Specified Reserve Account Balance
|
3,559,801.00
|
- N/A -
|
- N/A -
|
||||||||||
|
Adjusted Pool (1)
|
$
|
159,062,442.69
|
$
|
46,795,874.68
|
$
|
46,583,253.06
|
|||||||
|
Weighted Average Coupon (WAC)
|
5.54%
|
|
5.70%
|
|
5.71%
|
|
|||||||
|
Number of Loans
|
6,838
|
2,028
|
2,005
|
||||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
2,810,349.25
|
$
|
2,848,602.62
|
|||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
43,985,525.43
|
$
|
43,734,650.44
|
|||||||||
|
Pool Factor
|
0.295777014
|
0.294433123
|
|||||||||||
|
Since Issued Constant Prepayment Rate
|
5.83%
|
|
5.76%
|
|
|||||||||
| (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 |
63939BAA7
|
$
|
39,907,010.01
|
$
|
39,633,253.06
|
|||||
| B |
63939BAB5
|
$
|
4,200,000.00
|
$
|
4,200,000.00
|
|||||
| C |
Account Balances
|
08/25/2025
|
09/25/2025
|
||||||
|
Reserve Account Balance
|
$
|
158,213.00
|
$
|
158,213.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
12,261.08
|
$
|
3,940.56
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
| D |
Asset / Liability
|
08/25/2025
|
09/25/2025
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
46,795,874.68
|
$
|
46,583,253.06
|
|||||
|
Total Notes
|
$
|
44,107,010.01
|
$
|
43,833,253.06
|
|||||
|
Difference
|
$
|
2,688,864.67
|
$
|
2,750,000.00
|
|||||
|
Parity Ratio
|
1.06096
|
1.06274
|
|||||||
|
Page 2 of 9
|
Trust 2014-6 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
|
202,046.13
|
||||
|
Guarantor Principal
|
116,067.29
|
||||
|
Consolidation Activity Principal
|
21.97
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
318,135.39
|
|||
| B |
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
80,921.57
|
||||
|
Guarantor Interest
|
6,923.07
|
||||
|
Consolidation Activity Interest
|
0.08
|
||||
|
Special Allowance Payments
|
203,868.16
|
||||
|
Interest Subsidy Payments
|
7,906.44
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
0.00
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
1,024.95
|
||||
|
Total Interest Receipts
|
$
|
300,644.27
|
|||
| C |
Reserves in Excess of Requirement
|
|
-
|
||
| D |
Investment Income
|
$
|
3,063.30
|
||
|
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
|
$ |
12,261.08
|
||
|
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
|
$
|
(41,516.46)
|
|
||
|
Floor Income Rebate Fees to Dept. of Education
|
$ |
(12,281.75)
|
|||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(3,940.56)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
576,365.27
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(91,172.42)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
2,484.07
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
-
|
|||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2014-6 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
| III. |
2014-6 Portfolio Characteristics
|
|
08/31/2025
|
07/31/2025
|
||||||||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
||||||||||||||||||||||||||
|
INTERIM:
|
DEFERMENT
|
6.18%
|
|
37
|
$
|
995,759.02
|
2.145%
|
|
6.03%
|
|
39
|
$
|
1,019,719.76
|
2.186%
|
|
||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
5.40%
|
|
1,636
|
$
|
32,690,140.71
|
70.408%
|
|
5.44%
|
|
1,640
|
$
|
32,642,407.10
|
69.963%
|
|
||||||||||||||||||
|
31-60 DAYS DELINQUENT
|
6.61%
|
|
49
|
$
|
1,762,398.01
|
3.796%
|
|
6.11%
|
|
49
|
$
|
1,382,372.63
|
2.963%
|
|
|||||||||||||||||||
|
61-90 DAYS DELINQUENT
|
6.39%
|
|
29
|
$
|
1,043,856.50
|
2.248%
|
|
7.37%
|
|
46
|
$
|
2,447,320.57
|
5.245%
|
|
|||||||||||||||||||
|
91-120 DAYS DELINQUENT
|
6.48%
|
|
24
|
$
|
811,751.87
|
1.748%
|
|
5.39%
|
|
26
|
$
|
694,982.96
|
1.490%
|
|
|||||||||||||||||||
|
> 120 DAYS DELINQUENT
|
5.84%
|
|
68
|
$
|
2,562,329.60
|
5.519%
|
|
6.12%
|
|
61
|
$
|
2,634,407.76
|
5.646%
|
|
|||||||||||||||||||
|
FORBEARANCE
|
6.64%
|
|
159
|
$
|
6,550,070.29
|
14.108%
|
|
6.09%
|
|
157
|
$
|
5,678,826.22
|
12.172%
|
|
|||||||||||||||||||
|
CLAIMS IN PROCESS
|
6.69%
|
|
3
|
$
|
13,161.61
|
0.028%
|
|
6.00%
|
|
10
|
$
|
156,393.58
|
0.335%
|
|
|||||||||||||||||||
|
TOTAL
|
2,005
|
$
|
46,429,467.61
|
100.00%
|
|
2,028
|
$
|
46,656,430.58
|
100.00%
|
|
|||||||||||||||||||||||
|
Page 4 of 9
|
Trust 2014-6 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
| IV. |
2014-6 Portfolio Characteristics (cont'd)
|
|
08/31/2025
|
07/31/2025
|
|||||||
|
Pool Balance
|
$
|
46,583,253.06
|
$
|
46,795,874.68
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
1,488,994.62
|
$
|
1,455,858.41
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
153,785.45
|
$
|
139,444.10
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
208,462.04
|
$
|
247,185.46
|
||||
|
Total # Loans
|
2,005
|
2,028
|
||||||
|
Total # Borrowers
|
1,128
|
1,140
|
||||||
|
Weighted Average Coupon
|
5.71%
|
|
5.70%
|
|
||||
|
Weighted Average Remaining Term
|
198.83
|
198.39
|
||||||
|
Non-Reimbursable Losses
|
$
|
2,484.07
|
$
|
3,562.78
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
649,557.28
|
$
|
647,073.21
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
5.76%
|
|
5.83%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
-
|
-
|
||||||
|
Cumulative Rejected Claim Repurchases
|
-
|
-
|
||||||
|
Unpaid Primary Servicing Fees
|
-
|
-
|
||||||
|
Unpaid Administration Fees
|
-
|
-
|
||||||
|
Unpaid Carryover Servicing Fees
|
-
|
-
|
||||||
|
Note Principal Shortfall
|
-
|
$ | 61,135.33 |
|||||
|
Note Interest Shortfall
|
-
|
-
|
||||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
93,612.13
|
$
|
91,716.08
|
||||
|
Borrower Interest Accrued
|
$
|
214,226.33
|
$
|
216,540.22
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
5,970.82
|
$
|
5,757.69
|
||||
|
Special Allowance Payments Accrued
|
$
|
67,937.17
|
$
|
68,215.89
|
||||
|
Page 5 of 9
|
Trust 2014-6 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
| V. |
2014-6 Portfolio Statistics by School and Program
|
| A |
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
||||||||||||
|
- GSL (1) - Subsidized
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
- PLUS (2) Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
- SLS (3) Loans
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
- Consolidation Loans
|
5.71%
|
|
2,005
|
46,429,467.61
|
100.000%
|
|
|||||||||||
|
Total
|
5.71%
|
|
2,005
|
$
|
46,429,467.61
|
100.000%
|
|
||||||||||
| B |
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
||||||||||||
|
- Four Year
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
- Two Year
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
- Technical
|
0.00%
|
|
0
|
-
|
0.000%
|
|
|||||||||||
|
- Other
|
5.71%
|
|
2,005
|
46,429,467.61
|
100.000%
|
|
|||||||||||
|
Total
|
5.71%
|
|
2,005
|
$
|
46,429,467.61
|
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 2014-6 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
| VI. |
2014-6 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
576,365.27
|
|||||||
| A |
Trustee Fees
|
-
|
$
|
576,365.27
|
|||||
| B |
Primary Servicing Fee
|
$
|
6,030.60
|
$
|
570,334.67
|
||||
| C |
Administration Fee
|
$
|
6,667.00
|
$
|
563,667.67
|
||||
| D |
Class A Noteholders' Interest Distribution Amount
|
$
|
174,325.98
|
$
|
389,341.69
|
||||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
21,565.71
|
$
|
367,775.98
|
||||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
367,775.98
|
|||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
273,756.95
|
$
|
94,019.03
|
||||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$
|
94,019.03
|
|||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
$
|
94,019.03
|
|||||
|
J
|
Carryover Servicing Fee
|
-
|
$
|
94,019.03
|
|||||
|
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$
|
94,019.03
|
|||||
|
L
|
Excess Distribution Certificateholder
|
$
|
94,019.03
|
-
|
|||||
|
Waterfall Triggers
|
|||||
| A |
Student Loan Principal Outstanding
|
$
|
46,429,467.61
|
||
| B |
Interest to be Capitalized
|
$
|
153,785.45
|
||
| C |
Capitalized Interest Account Balance
|
-
|
|||
| D |
Reserve Account Balance (after any reinstatement)
|
$
|
158,213.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(158,213.00)
|
|
|
|
F
|
Total
|
$
|
46,583,253.06
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
39,633,253.06
|
||
|
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 2014-6 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
| VII. |
2014-6 Distributions
|
| A |
|
B |
|
|||||
|
Cusip/Isin
|
63939BAA7
|
63939BAB5
|
||||||
|
Beginning Balance
|
$
|
39,907,010.01
|
$
|
4,200,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.61%
|
|
1.50%
|
|
||||
|
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*
|
5.07287%
|
|
5.96287%
|
|
||||
|
Accrued Interest Factor
|
0.004368305
|
0.005134693
|
||||||
|
Current Interest Due
|
$
|
174,325.98
|
$
|
21,565.71
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
174,325.98
|
$
|
21,565.71
|
||||
|
Interest Paid
|
$
|
174,325.98
|
$
|
21,565.71
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
273,756.95
|
-
|
|||||
|
Ending Principal Balance
|
$
|
39,633,253.06
|
$
|
4,200,000.00
|
||||
|
Paydown Factor
|
0.001779954
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.257693453
|
1.000000000
|
||||||
|
Page 8 of 9
|
Trust 2014-6 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|
| VIII. |
2014-6 Reconciliations
|
| A |
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
44,107,010.01
|
|||
|
Adjusted Pool Balance
|
$
|
46,583,253.06
|
|||
|
Overcollateralization Amount
|
$
|
2,750,000.00
|
|||
|
Principal Distribution Amount
|
$
|
273,756.95
|
|||
|
Principal Distribution Amount Paid
|
$
|
273,756.95
|
|||
| B |
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
$
|
158,213.00
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
$
|
158,213.00
|
|||
|
Required Reserve Acct Balance
|
$
|
158,213.00
|
|||
|
Release to Collection Account
|
|
-
|
|||
|
Ending Reserve Account Balance
|
$
|
158,213.00
|
|||
| C |
Floor Income Rebate Account
|
||||
|
Beginning Period Balance
|
$
|
12,261.08
|
|||
|
Deposits for the Period
|
$
|
3,940.56
|
|||
|
Release to Collection Account
|
$ |
(12,261.08)
|
|||
|
Ending Balance
|
$
|
3,940.56
|
|||
| D |
|||||
|
Supplemental Purchase Account
|
|||||
|
Beginning Period Balance
|
-
|
||||
|
Supplemental Loan Purchases
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
Page 9 of 9
|
Trust 2014-6 Monthly Servicing Report: Collection Period 08/01/2025 - 08/31/2025, Distribution Date 09/25/2025
|