|
Page 1 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026 |
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
02/26/2015
|
03/31/2026
|
04/30/2026
|
|||||||||
|
|
Principal Balance
|
$
|
968,675,662.97
|
$
|
255,054,379.72
|
$
|
253,775,139.29
|
||||||
| Interest to be Capitalized Balance |
8,452,423.99
|
2,704,441.74
|
2,801,914.66
|
||||||||||
|
|
Pool Balance
|
$
|
977,128,086.96
|
$
|
257,758,821.46
|
$
|
256,577,053.95
|
||||||
| Specified Reserve Account Balance |
16,379,916.00
|
- N/A -
|
- N/A -
|
||||||||||
| |
Adjusted Pool (1)
|
$
|
993,508,002.96
|
$
|
257,758,821.46
|
$
|
256,577,053.95
|
||||||
|
|
Weighted Average Coupon (WAC) |
6.11%
|
|
6.64%
|
|
6.64%
|
|
||||||
| Number of Loans |
155,605
|
26,039
|
25,753
|
||||||||||
|
|
Aggregate Outstanding Principal Balance - Tbill |
$
|
34,910,143.34
|
$
|
34,772,443.04
|
||||||||
|
|
Aggregate Outstanding Principal Balance - SOFR |
$
|
222,848,678.12
|
$
|
221,804,610.91
|
||||||||
| Pool Factor |
0.259648496
|
0.258458065
|
|||||||||||
| Since Issued Constant Prepayment Rate |
(3.49)%
|
|
(3.52)%
|
|
|||||||||
| (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
|
04/27/2026
|
05/26/2026
|
|||||||
|
A2
|
63939FAB6
|
$
|
227,192,439.14
|
$ |
226,028,398.14
|
||||||
|
B
|
63939FAC4
|
$
|
26,700,000.00
|
$
|
26,700,000.00
|
||||||
|
C
|
Account Balances
|
04/27/2026
|
05/26/2026
|
||||||
|
Reserve Account Balance
|
$
|
992,722.00
|
$
|
992,722.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
256,951.49
|
$
|
387,127.05
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
|
D
|
Asset / Liability
|
04/27/2026
|
05/26/2026
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
257,758,821.46
|
$
|
256,577,053.95
|
|||||
|
Total Notes
|
$
|
253,892,439.14
|
$
|
252,728,398.14
|
|||||
|
Difference
|
$
|
3,866,382.32
|
$
|
3,848,655.81
|
|||||
|
Parity Ratio
|
1.01523
|
1.01523
|
|||||||
|
Page 2 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026 |
|
II.
|
Trust Activity 04/01/2026 through 04/30/2026
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
517,447.72
|
||||
|
Guarantor Principal
|
1,040,611.31
|
||||
|
Consolidation Activity Principal
|
619,083.18
|
||||
|
Seller Principal Reimbursement
|
1.58
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
2,177,143.79
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
300,492.82
|
||||
|
Guarantor Interest
|
60,512.82
|
||||
|
Consolidation Activity Interest
|
40,560.35
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
435.99
|
||||
|
Servicer Interest Reimbursement
|
5,392.43
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
15,623.53
|
||||
|
Total Interest Receipts
|
$
|
423,017.94
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
|
D
|
Investment Income
|
$
|
22,517.14
|
||
|
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
|
$
|
(93,827.80)
|
|||
|
Floor Income Rebate Fees to Dept. of Education
|
-
|
||||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(130,175.56)
|
|||
|
M
|
AVAILABLE FUNDS
|
$
|
2,398,675.51
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(897,903.36)
|
||
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
23,661.30
|
||
|
P
|
Aggregate Purchased Amounts by the Depositor, Servicer or Seller
|
|
-
|
||
|
Q
|
Aggregate Loan Substitutions
|
-
|
|||
|
Page 3 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026 |
|
III.
|
2015-1 Portfolio Characteristics
|
|
04/30/2026
|
03/31/2026
|
||||||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
||||||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.82%
|
|
15
|
$
|
76,738.69
|
0.030%
|
|
6.82%
|
|
15
|
$
|
76,738.69
|
0.030%
|
|
||||||||||||||||
|
GRACE
|
6.69%
|
|
7
|
$
|
26,600.00
|
0.010%
|
|
6.69%
|
|
7
|
$
|
26,600.00
|
0.010%
|
|
|||||||||||||||||
| DEFERMENT |
6.49%
|
|
1,568
|
$
|
12,620,044.70
|
4.973%
|
|
6.51%
|
|
1,626
|
$
|
12,754,490.10
|
5.001%
|
|
|||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.58%
|
|
16,565
|
$
|
158,238,490.38
|
62.354%
|
|
6.61%
|
|
16,951
|
$
|
161,896,612.42
|
63.475%
|
|
||||||||||||||||
| 31-60 DAYS DELINQUENT |
6.85%
|
|
979
|
$
|
10,361,723.29
|
4.083%
|
|
6.74%
|
|
858
|
$
|
9,290,950.18
|
3.643%
|
|
|||||||||||||||||
| 61-90 DAYS DELINQUENT |
6.80%
|
|
568
|
$
|
6,186,873.32
|
2.438%
|
|
6.53%
|
|
633
|
$
|
6,118,937.56
|
2.399%
|
|
|||||||||||||||||
| 91-120 DAYS DELINQUENT |
6.43%
|
|
407
|
$
|
3,765,444.72
|
1.484%
|
|
7.01%
|
|
405
|
$
|
4,908,158.58
|
1.924%
|
|
|||||||||||||||||
| > 120 DAYS DELINQUENT |
6.83%
|
|
1,325
|
$
|
15,641,551.56
|
6.164%
|
|
6.64%
|
|
1,413
|
$
|
16,054,917.42
|
6.295%
|
|
|||||||||||||||||
| FORBEARANCE |
6.77%
|
|
3,993
|
$
|
43,527,225.00
|
17.152%
|
|
6.74%
|
|
3,819
|
$
|
41,307,038.66
|
16.195%
|
|
|||||||||||||||||
| CLAIMS IN PROCESS |
6.70%
|
|
326
|
$
|
3,330,447.63
|
1.312%
|
|
6.57%
|
|
312
|
$
|
2,619,936.11
|
1.027%
|
|
|||||||||||||||||
|
TOTAL
|
25,753 |
$
|
253,775,139.29 |
100.00% |
|
26,039 |
$
|
255,054,379.72 |
100.00% |
|
|||||||||||||||||||||
|
*
|
Percentages may not total 100% due to rounding
|
|
Page 4 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026 |
|
IV.
|
2015-1 Portfolio Characteristics (cont'd)
|
|
04/30/2026
|
03/31/2026
|
|||||||
|
Pool Balance
|
$
|
256,577,053.95
|
$
|
257,758,821.46
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
12,862,089.41
|
$
|
12,848,515.29
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
2,801,914.66
|
$
|
2,704,441.74
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,430,094.43
|
$
|
1,393,571.82
|
||||
|
Total # Loans
|
25,753
|
26,039
|
||||||
|
Total # Borrowers
|
11,192
|
11,308
|
||||||
|
Weighted Average Coupon
|
6.64%
|
|
6.64%
|
|
||||
|
Weighted Average Remaining Term
|
206.74
|
205.95
|
||||||
|
Non-Reimbursable Losses
|
$
|
23,661.30
|
$
|
124,215.59
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
6,067,554.44
|
$
|
6,043,893.14
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-3.52%
|
|
-3.49%
|
|
||||
|
Loan Substitutions
|
-
|
-
|
||||||
|
Cumulative Loan Substitutions
|
-
|
-
|
||||||
|
Rejected Claim Repurchases
|
-
|
-
|
||||||
|
Cumulative Rejected Claim Repurchases
|
$
|
405,329.34
|
$
|
405,329.34
|
||||
|
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
|
$
|
920,994.49
|
$
|
1,126,733.62
|
||||
|
Borrower Interest Accrued
|
$
|
1,335,658.99
|
$
|
1,394,171.26
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
44,183.56
|
$
|
46,863.49
|
||||
|
Special Allowance Payments Accrued
|
$
|
104,160.58
|
$
|
109,942.33
|
||||
|
Page 5 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026 |
|
V.
|
2015-1 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted Average Coupon
|
# LOANS
|
$ AMOUNT
|
% *
|
||||||||||||
|
- GSL (1) - Subsidized
|
6.68%
|
|
11,523
|
58,757,573.11
|
23.153%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.79%
|
|
9,835
|
82,359,526.73
|
32.454%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.33%
|
|
352
|
7,886,189.67
|
3.108%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.26%
|
|
35
|
321,872.69
|
0.127%
|
|
|||||||||||
|
- Consolidation Loans
|
6.36%
|
|
4,008
|
104,449,977.09
|
41.158%
|
|
|||||||||||
|
Total
|
6.64%
|
|
25,753
|
$
|
253,775,139.29
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted Average Coupon
|
# LOANS
|
$ AMOUNT
|
% *
|
||||||||||||
|
- Four Year
|
6.84%
|
|
17,525
|
127,291,459.37
|
50.159%
|
|
|||||||||||
|
- Two Year
|
6.77%
|
|
3,331
|
17,121,679.72
|
6.747%
|
|
|||||||||||
|
- Technical
|
6.79%
|
|
887
|
4,909,555.66
|
1.935%
|
|
|||||||||||
|
- Other
|
6.36%
|
|
4,010
|
104,452,444.54
|
41.159%
|
|
|||||||||||
|
Total
|
6.64%
|
|
25,753
|
$
|
253,775,139.29
|
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 2015-1 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026 |
|
VI.
|
2015-1 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
2,398,675.51
|
|||||||
|
A
|
Trustee Fees
|
-
|
$
|
2,398,675.51
|
|||||
|
B
|
Primary Servicing Fee
|
$
|
55,034.83
|
$
|
2,343,640.68
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
2,336,973.68
|
||||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
797,884.45
|
$
|
1,539,089.23
|
||||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
113,126.09
|
$
|
1,425,963.14
|
||||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
1,425,963.14
|
|||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
1,164,041.00
|
$
|
261,922.14
|
||||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$
|
261,922.14
|
|||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
$
|
261,922.14
|
|||||
|
J
|
Carryover Servicing Fee
|
-
|
$
|
261,922.14
|
|||||
|
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$
|
261,922.14
|
|||||
|
L
|
Excess Distribution Certificateholder
|
$
|
261,922.14
|
$ |
(0.00)
|
|
|||
|
Waterfall Triggers
|
|||||
|
A
|
Student Loan Principal Outstanding
|
$
|
253,775,139.29
|
||
|
B
|
Interest to be Capitalized
|
$
|
2,801,914.66
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
$
|
992,722.00
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(992,722.00)
|
|
|
|
F
|
Total
|
$
|
256,577,053.95
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
226,028,398.14
|
||
|
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 2015-1 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026 |
|
VII.
|
2015-1 Distributions
|
|
A2
|
B |
|
||||||
|
Cusip/Isin
|
63939FAB6
|
63939FAC4
|
||||||
|
Beginning Balance
|
$
|
227,192,439.14
|
$
|
26,700,000.00
|
||||
|
Index
|
SOFR
|
SOFR
|
||||||
|
Spread/Fixed Rate
|
0.60%
|
|
1.50%
|
|
||||
|
Record Date (Days Prior to Distribution)
|
1 NEW YORK BUSINESS DAY
|
1 NEW YORK BUSINESS DAY
|
||||||
|
Accrual Period Begin
|
4/27/2026
|
4/27/2026
|
||||||
|
Accrual Period End
|
5/26/2026
|
5/26/2026
|
||||||
|
Daycount Fraction
|
0.08055556
|
0.08055556
|
||||||
|
Interest Rate*
|
4.35964%
|
|
5.25964%
|
|
||||
|
Accrued Interest Factor
|
0.003511932
|
0.004236932
|
||||||
|
Current Interest Due
|
$
|
797,884.45
|
$
|
113,126.09
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
797,884.45
|
$
|
113,126.09
|
||||
|
Interest Paid
|
$
|
797,884.45
|
$
|
113,126.09
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
1,164,041.00
|
-
|
|||||
|
Ending Principal Balance
|
$
|
226,028,398.14
|
$
|
26,700,000.00
|
||||
|
Paydown Factor
|
0.001848564
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.358946162
|
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 2015-1 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026 |
|
VIII.
|
2015-1 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
253,892,439.14
|
|||
|
Adjusted Pool Balance
|
$
|
256,577,053.95
|
|||
|
Overcollateralization Amount
|
$
|
3,848,655.81
|
|||
|
Principal Distribution Amount
|
$
|
1,164,041.00
|
|||
|
Principal Distribution Amount Paid
|
$
|
1,164,041.00
|
|||
|
B
|
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
$
|
992,722.00
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
$
|
992,722.00
|
|||
|
Required Reserve Acct Balance
|
$
|
992,722.00
|
|||
|
Release to Collection Account
|
|
-
|
|||
|
Ending Reserve Account Balance
|
$
|
992,722.00
|
|||
|
C
|
Floor Income Rebate Account
|
||||
|
Beginning Period Balance
|
$
|
256,951.49
|
|||
|
Deposits for the Period
|
$
|
130,175.56
|
|||
|
Release to Collection Account
|
-
|
||||
|
Ending Balance
|
$
|
387,127.05
|
|||
|
D
|
Supplemental Purchase Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Supplemental Loan Purchases
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
|
Page 9 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026 |