|
Page 1 of 9
|
Trust 2014-6 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026
|
| I. |
Deal Parameters
|
| A |
Student Loan Portfolio Characteristics
|
08/14/2014
|
03/31/2026
|
04/30/2026
|
|||||||||
|
Principal Balance
|
$
|
154,772,903.21
|
$
|
42,796,868.44
|
$
|
42,651,034.00
|
|||||||
|
Interest to be Capitalized Balance
|
729,738.48
|
168,667.61
|
188,088.57
|
||||||||||
|
Pool Balance
|
$
|
155,502,641.69
|
$
|
42,965,536.05
|
$
|
42,839,122.57
|
|||||||
|
Specified Reserve Account Balance
|
3,559,801.00
|
- N/A -
|
- N/A -
|
||||||||||
|
Adjusted Pool (1)
|
$
|
159,062,442.69
|
$
|
42,965,536.05
|
$
|
42,839,122.57
|
|||||||
|
Weighted Average Coupon (WAC)
|
5.54%
|
|
5.69%
|
|
5.71%
|
|
|||||||
|
Number of Loans
|
6,838
|
1,850
|
1,837
|
||||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
2,484,795.49
|
$
|
2,518,597.83
|
|||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
40,480,740.56
|
$
|
40,320,524.74
|
|||||||||
|
Pool Factor
|
0.271567057
|
0.270768051
|
|||||||||||
|
Since Issued Constant Prepayment Rate
|
5.70%
|
|
5.62%
|
|
|||||||||
| (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
|
||||||
| A |
63939BAA7
|
$
|
36,059,375.85
|
$
|
35,899,383.24
|
|||||
| B |
63939BAB5
|
$
|
4,200,000.00
|
$
|
4,200,000.00
|
|||||
| C |
Account Balances
|
04/27/2026
|
05/26/2026
|
||||||
|
Reserve Account Balance
|
$
|
158,213.00
|
$
|
158,213.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
19,998.51
|
$
|
30,332.97
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
| D |
Asset / Liability
|
04/27/2026
|
05/26/2026
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
42,965,536.05
|
$
|
42,839,122.57
|
|||||
|
Total Notes
|
$
|
40,259,375.85
|
$
|
40,099,383.24
|
|||||
|
Difference
|
$
|
2,706,160.20
|
$
|
2,739,739.33
|
|||||
|
Parity Ratio
|
1.06722
|
1.06832
|
|||||||
|
Page 2 of 9
|
Trust 2014-6 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
|
137,913.12
|
||||
|
Guarantor Principal
|
28,440.26
|
||||
|
Consolidation Activity Principal
|
119,994.14
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
286,347.52
|
|||
| B |
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
70,879.54
|
||||
|
Guarantor Interest
|
1,688.04
|
||||
|
Consolidation Activity Interest
|
1,153.13
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
746.73
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
1,670.54
|
||||
|
Total Interest Receipts
|
$
|
76,137.98
|
|||
| C |
Reserves in Excess of Requirement
|
|
-
|
||
| D |
Investment Income
|
$
|
3,484.65
|
||
|
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
|
$
|
(38,568.05)
|
|
||
|
Floor Income Rebate Fees to Dept. of Education
|
-
|
||||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(10,334.46)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
317,067.64
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(140,513.08)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
931.69
|
||
|
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 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026
|
| III. |
2014-6 Portfolio Characteristics
|
|
04/30/2026
|
03/31/2026
|
||||||||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of Principal
|
||||||||||||||||||||||||||
|
INTERIM:
|
DEFERMENT
|
5.82%
|
|
41
|
$
|
1,020,790.44
|
2.393%
|
|
5.90%
|
|
39
|
$
|
830,581.06
|
1.941%
|
|
||||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
5.56%
|
|
1,511
|
$
|
31,507,728.64
|
73.873%
|
|
5.58%
|
|
1,522
|
$
|
31,627,000.56
|
73.900%
|
|
||||||||||||||||||
|
31-60 DAYS DELINQUENT
|
5.94%
|
|
31
|
$
|
752,261.56
|
1.764%
|
|
5.71%
|
|
51
|
$
|
1,214,807.28
|
2.839%
|
|
|||||||||||||||||||
|
61-90 DAYS DELINQUENT
|
5.13%
|
|
25
|
$
|
519,108.51
|
1.217%
|
|
6.37%
|
|
25
|
$
|
1,134,553.95
|
2.651%
|
|
|||||||||||||||||||
|
91-120 DAYS DELINQUENT
|
6.56%
|
|
16
|
$
|
853,015.89
|
2.000%
|
|
6.92%
|
|
8
|
$
|
215,487.01
|
0.504%
|
|
|||||||||||||||||||
|
> 120 DAYS DELINQUENT
|
6.14%
|
|
61
|
$
|
2,383,722.25
|
5.589%
|
|
6.11%
|
|
75
|
$
|
2,790,816.80
|
6.521%
|
|
|||||||||||||||||||
|
FORBEARANCE
|
6.26%
|
|
134
|
$
|
5,107,259.61
|
11.975%
|
|
5.90%
|
|
118
|
$
|
4,682,015.43
|
10.940%
|
|
|||||||||||||||||||
|
CLAIMS IN PROCESS
|
5.62%
|
|
18
|
$
|
507,147.10
|
1.189%
|
|
6.26%
|
|
12
|
$
|
301,606.35
|
0.705%
|
|
|||||||||||||||||||
|
TOTAL
|
1,837
|
$
|
42,651,034.00
|
100.00%
|
|
1,850
|
$
|
42,796,868.44
|
100.00%
|
|
|||||||||||||||||||||||
|
Page 4 of 9
|
Trust 2014-6 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026
|
| IV. |
2014-6 Portfolio Characteristics (cont'd)
|
|
04/30/2026
|
03/31/2026
|
|||||||
|
Pool Balance
|
$
|
42,839,122.57
|
$
|
42,965,536.05
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
1,648,699.59
|
$
|
1,678,174.91
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
188,088.57
|
$
|
168,667.61
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
208,376.45
|
$
|
222,727.99
|
||||
|
Total # Loans
|
1,837
|
1,850
|
||||||
|
Total # Borrowers
|
1,035
|
1,043
|
||||||
|
Weighted Average Coupon
|
5.71% |
|
5.69% |
|
||||
|
Weighted Average Remaining Term
|
196.89
|
196.44
|
||||||
|
Non-Reimbursable Losses
|
$
|
931.69
|
$
|
8,095.54
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
667,405.56
|
$
|
666,473.87
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
5.62% |
|
5.70% |
|
||||
|
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
|
$ |
10,260.67
|
$ |
43,839.80
|
||||
|
Note Interest Shortfall
|
-
|
-
|
||||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
138,824.55
|
$
|
75,883.88
|
||||
|
Borrower Interest Accrued
|
$
|
190,324.31
|
$
|
198,752.15
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
5,214.10
|
$
|
5,578.16
|
||||
|
Special Allowance Payments Accrued
|
$
|
45,869.74
|
$
|
49,240.19
|
||||
|
Page 5 of 9
|
Trust 2014-6 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026
|
| 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%
|
|
1,837
|
42,651,034.00
|
100.000%
|
|
|||||||||||
|
Total
|
5.71%
|
|
1,837
|
$
|
42,651,034.00
|
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%
|
|
1,837
|
42,651,034.00
|
100.000%
|
|
|||||||||||
|
Total
|
5.71%
|
|
1,837
|
$
|
42,651,034.00
|
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 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026
|
| VI. |
2014-6 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
317,067.64
|
|||||||
| A |
Trustee Fees
|
-
|
$
|
317,067.64
|
|||||
| B |
Primary Servicing Fee
|
$
|
5,684.35
|
$
|
311,383.29
|
||||
| C |
Administration Fee
|
$
|
6,667.00
|
$
|
304,716.29
|
||||
| D |
Class A Noteholders' Interest Distribution Amount
|
$
|
126,928.56
|
$
|
177,787.73
|
||||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
17,795.12
|
$
|
159,992.61
|
||||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
159,992.61
|
|||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
159,992.61
|
|
-
|
||||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
-
|
||||||
|
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
|
$
|
42,651,034.00
|
||
| B |
Interest to be Capitalized
|
$
|
188,088.57
|
||
| 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
|
$
|
42,839,122.57
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
35,899,383.24
|
||
|
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 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026
|
| VII. |
2014-6 Distributions
|
| A |
|
B |
|
|||||
|
Cusip/Isin
|
63939BAA7
|
63939BAB5
|
||||||
|
Beginning Balance
|
$
|
36,059,375.85
|
$
|
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
|
4/27/2026
|
4/27/2026
|
||||||
|
Accrual Period End
|
5/26/2026
|
5/26/2026
|
||||||
|
Daycount Fraction
|
0.08055556
|
0.08055556
|
||||||
|
Interest Rate*
|
4.36964%
|
|
5.25964%
|
|
||||
|
Accrued Interest Factor
|
0.003519988
|
0.004236933
|
||||||
|
Current Interest Due
|
$
|
126,928.56
|
$
|
17,795.12
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
126,928.56
|
$
|
17,795.12
|
||||
|
Interest Paid
|
$
|
126,928.56
|
$
|
17,795.12
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
159,992.61
|
-
|
|||||
|
Ending Principal Balance
|
$
|
35,899,383.24
|
$
|
4,200,000.00
|
||||
|
Paydown Factor
|
0.001040264
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.233416016
|
1.000000000
|
||||||
|
Page 8 of 9
|
Trust 2014-6 Monthly Servicing Report: Collection Period 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026
|
| VIII. |
2014-6 Reconciliations
|
| A |
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
40,259,375.85
|
|||
|
Adjusted Pool Balance
|
$
|
42,839,122.57
|
|||
|
Overcollateralization Amount
|
$
|
2,750,000.00
|
|||
|
Principal Distribution Amount
|
$
|
170,253.28
|
|||
|
Principal Distribution Amount Paid
|
$
|
159,992.61
|
|||
| 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
|
$
|
19,998.51
|
|||
|
Deposits for the Period
|
$
|
10,334.46
|
|||
|
Release to Collection Account
|
-
|
||||
|
Ending Balance
|
$
|
30,332.97
|
|||
| 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 04/01/2026 - 04/30/2026, Distribution Date 05/26/2026
|