|
Page 1 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 06/01/2026 - 06/30/2026, Distribution Date 07/27/2026
|
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
11/08/2012
|
05/31/2026
|
06/30/2026
|
||||||||
|
Principal Balance
|
$
|
1,189,615,212.08
|
$
|
219,426,594.91
|
$
|
217,218,583.17
|
||||||
|
Interest to be Capitalized Balance
|
29,184,856.28
|
3,303,822.45
|
3,256,200.44
|
|||||||||
|
Pool Balance
|
$
|
1,218,800,068.36
|
$
|
222,730,417.36
|
$
|
220,474,783.61
|
||||||
|
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
|
$
|
222,730,417.36
|
$
|
220,474,783.61
|
||||||
|
Weighted Average Coupon (WAC)
|
6.76%
|
|
6.88%
|
|
6.88%
|
|
||||||
|
Number of Loans
|
283,078
|
30,865
|
30,513
|
|||||||||
|
Aggregate Outstanding Principal Balance - Tbill
|
$
|
333,101.29
|
$
|
330,689.68
|
||||||||
|
Aggregate Outstanding Principal Balance - SOFR
|
$
|
222,397,316.07
|
$
|
220,144,093.93
|
||||||||
|
Pool Factor
|
0.178357774
|
0.176551511
|
||||||||||
|
Since Issued Constant Prepayment Rate
|
(74.67)%
|
|
(74.32)%
|
|
||||||||
| (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
|
06/25/2026
|
07/27/2026
|
||||||
|
A3
|
78447KAC6
|
$
|
181,022,332.14
|
$
|
178,651,172.26
|
|||||
| B |
78447KAD4
|
$
|
37,500,000.00
|
$
|
37,500,000.00
|
|||||
|
C
|
Account Balances
|
06/25/2026
|
07/27/2026
|
||||||
|
Reserve Account Balance
|
-
|
-
|
|||||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
192,315.61
|
$
|
380,554.40
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
| D |
Asset / Liability
|
06/25/2026
|
07/27/2026
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
222,730,417.36
|
$
|
220,474,783.61
|
|||||
|
Total Notes
|
$
|
218,522,332.14
|
$
|
216,151,172.26
|
|||||
|
Difference
|
$
|
4,208,085.22
|
$
|
4,323,611.35
|
|||||
|
Parity Ratio
|
1.01926
|
1.02000
|
|||||||
|
Page 2 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 06/01/2026 - 06/30/2026, Distribution Date 07/27/2026
|
|
II.
|
Trust Activity 06/01/2026 through 06/30/2026
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
398,888.46
|
||||
|
Guarantor Principal
|
1,603,836.65
|
||||
|
Consolidation Activity Principal
|
920,403.09
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
2,923,128.20
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
272,415.40
|
||||
|
Guarantor Interest
|
91,549.96
|
||||
|
Consolidation Activity Interest
|
27,055.34
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
0.00
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
18,657.78
|
||||
|
Total Interest Receipts
|
$
|
409,678.48
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
| D |
Investment Income
|
$
|
11,975.99
|
||
|
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
|
-
|
||||
|
Floor Income Rebate Fees to Dept. of Education
|
|
-
|
|
||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(188,238.79)
|
|
||
|
M
|
AVAILABLE FUNDS
|
$
|
3,156,543.88
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(715,116.46)
|
|
|
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
36,942.36
|
||
|
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 06/01/2026 - 06/30/2026, Distribution Date 07/27/2026
|
|
III.
|
2012-7 Portfolio Characteristics
|
|
06/30/2026
|
05/31/2026
|
||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.72%
|
|
48
|
$
|
225,039.70
|
0.104%
|
|
6.73%
|
|
44
|
$
|
220,976.42
|
0.101%
|
|
||||||||||||
|
GRACE
|
6.80%
|
|
11
|
$
|
67,836.72
|
0.031%
|
|
6.77%
|
|
17
|
$
|
81,400.00
|
0.037%
|
|
|||||||||||||
|
DEFERMENT
|
6.76%
|
|
1,824
|
$
|
12,139,218.93
|
5.588%
|
|
6.76%
|
|
1,800
|
$
|
12,103,370.13
|
5.516%
|
|
|||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.88%
|
|
20,546
|
$
|
136,637,626.03
|
62.903%
|
|
6.89%
|
|
20,872
|
$
|
138,967,823.18
|
63.332%
|
|
||||||||||||
|
31-60 DAYS DELINQUENT
|
6.94%
|
|
1,127
|
$
|
9,823,551.19
|
4.522%
|
|
6.82%
|
|
1,038
|
$
|
8,012,635.84
|
3.652%
|
|
|||||||||||||
|
61-90 DAYS DELINQUENT
|
6.81%
|
|
648
|
$
|
5,188,063.45
|
2.388%
|
|
6.94%
|
|
648
|
$
|
5,655,256.47
|
2.577%
|
|
|||||||||||||
|
91-120 DAYS DELINQUENT
|
6.99%
|
|
389
|
$
|
3,435,490.58
|
1.582%
|
|
6.92%
|
|
497
|
$
|
4,082,325.67
|
1.860%
|
|
|||||||||||||
|
> 120 DAYS DELINQUENT
|
6.92%
|
|
1,522
|
$
|
13,076,935.58
|
6.020%
|
|
6.93%
|
|
1,518
|
$
|
13,150,304.81
|
5.993%
|
|
|||||||||||||
|
FORBEARANCE
|
6.90%
|
|
4,099
|
$
|
34,177,328.73
|
15.734%
|
|
6.90%
|
|
4,121
|
$
|
34,304,274.76
|
15.634%
|
|
|||||||||||||
|
CLAIMS IN PROCESS
|
6.85%
|
|
299
|
$
|
2,447,492.26
|
1.127%
|
|
6.87%
|
|
310
|
$
|
2,848,227.63
|
1.298%
|
|
|||||||||||||
|
TOTAL
|
30,513
|
$
|
217,218,583.17
|
100.00%
|
|
30,865
|
$
|
219,426,594.91
|
100.00%
|
|
|||||||||||||||||
|
*
|
Percentages may not total 100% due to rounding
|
|
Page 4 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 06/01/2026 - 06/30/2026, Distribution Date 07/27/2026
|
|
IV.
|
2012-7 Portfolio Characteristics (cont'd)
|
|
06/30/2026
|
05/31/2026
|
|||||||
|
Pool Balance
|
$
|
220,474,783.61
|
$
|
222,730,417.36
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
12,123,660.37
|
$
|
12,088,095.74
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
3,256,200.44
|
$
|
3,303,822.45
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,150,434.68
|
$
|
1,191,626.65
|
||||
|
Total # Loans
|
30,513
|
30,865
|
||||||
|
Total # Borrowers
|
13,685
|
13,846
|
||||||
|
Weighted Average Coupon
|
6.88%
|
|
6.88%
|
|
||||
|
Weighted Average Remaining Term
|
205.08
|
204.44
|
||||||
|
Non-Reimbursable Losses
|
$
|
36,942.36
|
$
|
28,551.75
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
7,783,498.83
|
$
|
7,746,556.47
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-74.32%
|
|
-74.67%
|
|
||||
|
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
|
$
|
178,651,172.26
|
$ |
181,022,332.14
|
||||
|
Note Interest Shortfall
|
$ |
527,849.92
|
$ |
341,426.57
|
||||
|
Unpaid Interest Carryover
|
-
|
-
|
||||||
|
Non-Cash Principal Activity - Capitalized Interest
|
$
|
752,847.26
|
$
|
797,521.00
|
||||
|
Borrower Interest Accrued
|
$
|
1,179,203.47
|
$
|
1,229,463.79
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
44,477.01
|
$
|
47,480.84
|
||||
|
Special Allowance Payments Accrued
|
$
|
35,420.78
|
$
|
36,388.17
|
||||
|
Page 5 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 06/01/2026 - 06/30/2026, Distribution Date 07/27/2026
|
|
V.
|
2012-7 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|||||||||||
|
- GSL (1) - Subsidized
|
6.77%
|
16,131
|
82,384,299.29
|
37.927%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.78%
|
13,742
|
121,159,116.50
|
55.778%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.48%
|
639
|
13,665,841.43
|
6.291%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.19%
|
1
|
9,325.95
|
0.004%
|
|
|||||||||||
|
- Consolidation Loans
|
0.00%
|
0
|
-
|
0.000%
|
|
|||||||||||
|
Total
|
6.88%
|
30,513
|
$
|
217,218,583.17
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
%*
|
|||||||||||
|
- Four Year
|
6.89%
|
25,663
|
190,748,051.71
|
87.814%
|
|
|||||||||||
|
- Two Year
|
6.83%
|
3,878
|
21,162,259.18
|
9.742%
|
|
|||||||||||
|
- Technical
|
6.81%
|
950
|
5,140,351.20
|
2.366%
|
|
|||||||||||
|
- Other
|
6.79%
|
22
|
167,921.08
|
0.077%
|
|
|||||||||||
|
Total
|
6.88%
|
30,513
|
$
|
217,218,583.17
|
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 06/01/2026 - 06/30/2026, Distribution Date 07/27/2026
|
|
VI.
|
2012-7 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
|||||||
|
Total Available Funds
|
$
|
3,156,543.88
|
||||||
|
A
|
Trustee Fees |
- |
$ | 3,156,543.88 |
||||
|
B
|
Primary Servicing Fee
|
$
|
71,967.20
|
$
|
3,084,576.68
|
|||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
3,077,909.68
|
|||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
706,749.80
|
$
|
2,371,159.88
|
|||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
|
-
|
$
|
2,371,159.88
|
|||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
2,371,159.88
|
||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
2,371,159.88
|
|
-
|
|||
|
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
|
$
|
217,218,583.17
|
||
|
B
|
Interest to be Capitalized
|
$
|
3,256,200.44
|
||
|
C
|
Capitalized Interest Account Balance
|
-
|
|||
|
D
|
Reserve Account Balance (after any reinstatement)
|
|
-
|
||
|
E
|
Less: Specified Reserve Account Balance
|
$
|
(1,248,784.00)
|
|
|
|
F
|
Total
|
$
|
219,225,999.61
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
178,651,172.26
|
||
|
H
|
Insolvency Event or Event of Default Under Indenture
|
Y |
|
||
|
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)
|
Y |
|
||
|
Page 7 of 9
|
Trust 2012-7 Monthly Servicing Report: Collection Period 06/01/2026 - 06/30/2026, Distribution Date 07/27/2026
|
|
VII.
|
2012-7 Distributions
|
|
A3
|
B |
|
||||||
|
Cusip/Isin
|
78447KAC6
|
78447KAD4
|
||||||
|
Beginning Balance
|
$
|
181,022,332.14
|
$
|
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
|
6/25/2026
|
6/25/2026
|
||||||
|
Accrual Period End
|
7/27/2026
|
7/27/2026
|
||||||
|
Daycount Fraction
|
0.08888889
|
0.08888889
|
||||||
|
Interest Rate*
|
4.39224%
|
|
5.54224%
|
|
||||
|
Accrued Interest Factor
|
0.003904213
|
0.000000000
|
||||||
|
Current Interest Due
|
$
|
706,749.80
|
$
|
527,849.92
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
$ |
343,108.59
|
|||||
|
Total Interest Due
|
$
|
706,749.80
|
$
|
527,849.92
|
||||
|
Interest Paid
|
$
|
706,749.80
|
|
-
|
||||
|
Interest Shortfall
|
-
|
$ |
527,849.92
|
|||||
|
Principal Paid
|
$
|
2,371,159.88
|
-
|
|||||
|
Ending Principal Balance
|
$
|
178,651,172.26
|
$
|
37,500,000.00
|
||||
|
Paydown Factor
|
0.004123756
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.310697691
|
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 06/01/2026 - 06/30/2026, Distribution Date 07/27/2026
|
|
VIII.
|
2012-7 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
218,522,332.14
|
|||
|
Adjusted Pool Balance
|
$
|
220,474,783.61
|
|||
|
Overcollateralization Amount
|
$
|
2,204,747.84
|
|||
|
Principal Distribution Amount
|
$
|
181,022,332.14
|
|||
|
Principal Distribution Amount Paid
|
$
|
2,371,159.88
|
|||
| B |
Reserve Account Reconciliation
|
||||
|
Beginning Period Balance
|
|
-
|
|||
|
Reserve Funds Utilized
|
0.00
|
||||
|
Reserve Funds Reinstated
|
0.00
|
||||
|
Balance Available
|
|
-
|
|||
|
Required Reserve Acct Balance
|
$
|
1,248,784.00
|
|||
|
Release to Collection Account
|
|
-
|
|||
|
Ending Reserve Account Balance
|
|
-
|
|||
| C |
Capitalized Interest Account
|
||||
|
Beginning Period Balance
|
-
|
||||
|
Transfers to Collection Account
|
-
|
||||
|
Ending Balance
|
-
|
||||
| D |
Floor Income Rebate Account
|
||||
|
Beginning Period Balance
|
$
|
192,315.61
|
|||
|
Deposits for the Period
|
$
|
188,238.79
|
|||
|
Release to Collection Account
|
-
|
|
|||
|
Ending Balance
|
$
|
380,554.40
|
|||
| 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 06/01/2026 - 06/30/2026, Distribution Date 07/27/2026
|