|
Page 1 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026 |
|
I.
|
Deal Parameters
|
|
A
|
Student Loan Portfolio Characteristics
|
02/26/2015
|
06/30/2026
|
07/31/2026
|
|||||||||
|
|
Principal Balance
|
$
|
968,675,662.97
|
$
|
250,065,098.94
|
$
|
248,067,089.18
|
||||||
| Interest to be Capitalized Balance |
8,452,423.99
|
2,831,199.86
|
2,922,882.45
|
||||||||||
|
|
Pool Balance
|
$
|
977,128,086.96
|
$
|
252,896,298.80
|
$
|
250,989,971.63
|
||||||
| Specified Reserve Account Balance |
16,379,916.00
|
- N/A -
|
- N/A -
|
||||||||||
| |
Adjusted Pool (1)
|
$
|
993,508,002.96
|
$
|
252,896,298.80
|
$
|
250,989,971.63
|
||||||
|
|
Weighted Average Coupon (WAC) |
6.11%
|
|
6.64%
|
|
6.57%
|
|
||||||
| Number of Loans |
155,605
|
25,136
|
24,825
|
||||||||||
|
|
Aggregate Outstanding Principal Balance - Tbill |
$
|
34,380,717.93
|
$
|
34,144,180.06
|
||||||||
|
|
Aggregate Outstanding Principal Balance - SOFR |
$
|
218,515,580.87
|
$
|
216,845,791.57
|
||||||||
| Pool Factor |
0.254750326
|
0.252830023
|
|||||||||||
| Since Issued Constant Prepayment Rate |
(3.55)%
|
|
(3.56)%
|
|
|||||||||
| (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
|
07/27/2026
|
08/25/2026
|
|||||||
|
A2
|
63939FAB6
|
$
|
222,402,854.32
|
$ |
220,525,122.06
|
||||||
|
B
|
63939FAC4
|
$
|
26,700,000.00
|
$
|
26,700,000.00
|
||||||
|
C
|
Account Balances
|
07/27/2026
|
08/25/2026
|
||||||
|
Reserve Account Balance
|
$
|
992,722.00
|
$
|
992,722.00
|
|||||
|
Capitalized Interest Account Balance
|
-
|
-
|
|||||||
|
Floor Income Rebate Account
|
$
|
268,845.50
|
$
|
400,712.73
|
|||||
|
Supplemental Loan Purchase Account
|
-
|
-
|
|||||||
|
D
|
Asset / Liability
|
07/27/2026
|
08/25/2026
|
||||||
|
Adjusted Pool Balance + Supplemental Loan Purchase
|
$
|
252,896,298.80
|
$
|
250,989,971.63
|
|||||
|
Total Notes
|
$
|
249,102,854.32
|
$
|
247,225,122.06
|
|||||
|
Difference
|
$
|
3,793,444.48
|
$
|
3,764,849.57
|
|||||
|
Parity Ratio
|
1.01523
|
1.01523
|
|||||||
|
Page 2 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026 |
|
II.
|
Trust Activity 07/01/2026 through 07/31/2026
|
|
A
|
Student Loan Principal Receipts
|
||||
|
Borrower Principal
|
429,483.17
|
||||
|
Guarantor Principal
|
1,443,605.65
|
||||
|
Consolidation Activity Principal
|
959,300.67
|
||||
|
Seller Principal Reimbursement
|
-
|
||||
|
Servicer Principal Reimbursement
|
-
|
||||
|
Rejected Claim Repurchased Principal
|
-
|
||||
|
Other Principal Deposits
|
-
|
||||
|
Total Principal Receipts
|
$
|
2,832,389.49
|
|||
|
B
|
Student Loan Interest Receipts
|
||||
|
Borrower Interest
|
290,301.44
|
||||
|
Guarantor Interest
|
87,109.78
|
||||
|
Consolidation Activity Interest
|
88,932.96
|
||||
|
Special Allowance Payments
|
0.00
|
||||
|
Interest Subsidy Payments
|
0.00
|
||||
|
Seller Interest Reimbursement
|
0.00
|
||||
|
Servicer Interest Reimbursement
|
1,844.69
|
||||
|
Rejected Claim Repurchased Interest
|
0.00
|
||||
|
Other Interest Deposits
|
14,221.50
|
||||
|
Total Interest Receipts
|
$
|
482,410.37
|
|||
|
C
|
Reserves in Excess of Requirement
|
|
-
|
||
|
D
|
Investment Income
|
$
|
14,059.81
|
||
|
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
|
$
|
(92,061.94)
|
|||
|
Floor Income Rebate Fees to Dept. of Education
|
-
|
||||
|
Funds Allocated to the Floor Income Rebate Account
|
$
|
(131,867.23)
|
|||
|
M
|
AVAILABLE FUNDS
|
$
|
3,104,930.50
|
||
|
N
|
Non-Cash Principal Activity During Collection Period
|
$
|
(834,379.73)
|
||
|
O
|
Non-Reimbursable Losses During Collection Period
|
$
|
31,671.01
|
||
|
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 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026 |
|
III.
|
2015-1 Portfolio Characteristics
|
|
07/31/2026
|
06/30/2026
|
||||||||||||||||||||||||||||||
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
Wtd Avg
Coupon
|
# Loans
|
Principal
|
% of
Principal
|
||||||||||||||||||||||||
|
INTERIM:
|
IN SCHOOL
|
6.76%
|
|
14
|
$
|
66,184.00
|
0.027%
|
|
6.92%
|
|
14
|
$
|
50,335.00
|
0.020%
|
|
||||||||||||||||
|
GRACE
|
6.48%
|
|
8
|
$
|
36,979.69
|
0.015%
|
|
6.69%
|
|
8
|
$
|
52,878.69
|
0.021%
|
|
|||||||||||||||||
| DEFERMENT |
6.48%
|
|
1,491
|
$
|
12,181,462.87
|
4.911%
|
|
6.56%
|
|
1,491
|
$
|
12,321,079.24
|
4.927%
|
|
|||||||||||||||||
|
REPAYMENT:
|
CURRENT
|
6.52%
|
|
16,292
|
$
|
158,594,961.18
|
63.932%
|
|
6.60%
|
|
16,471
|
$
|
158,700,930.92
|
63.464%
|
|
||||||||||||||||
| 31-60 DAYS DELINQUENT |
6.77%
|
|
905
|
$
|
10,314,981.77
|
4.158%
|
|
6.69%
|
|
932
|
$
|
11,181,827.52
|
4.472%
|
|
|||||||||||||||||
| 61-90 DAYS DELINQUENT |
6.76%
|
|
652
|
$
|
8,743,445.69
|
3.525%
|
|
6.67%
|
|
537
|
$
|
6,160,659.66
|
2.464%
|
|
|||||||||||||||||
| 91-120 DAYS DELINQUENT |
6.51%
|
|
374
|
$
|
4,013,705.61
|
1.618%
|
|
6.77%
|
|
502
|
$
|
5,122,753.70
|
2.049%
|
|
|||||||||||||||||
| > 120 DAYS DELINQUENT |
6.71%
|
|
1,263
|
$
|
12,826,897.10
|
5.171%
|
|
6.83%
|
|
1,218
|
$
|
13,668,107.03
|
5.466%
|
|
|||||||||||||||||
| FORBEARANCE |
6.69%
|
|
3,565
|
$
|
38,159,212.53
|
15.383%
|
|
6.74%
|
|
3,666
|
$
|
39,836,170.32
|
15.930%
|
|
|||||||||||||||||
| CLAIMS IN PROCESS |
6.46%
|
|
261
|
$
|
3,129,258.74
|
1.261%
|
|
6.47%
|
|
297
|
$
|
2,970,356.86
|
1.188%
|
|
|||||||||||||||||
|
TOTAL
|
24,825
|
$
|
248,067,089.18 |
100.00%
|
|
25,136
|
$
|
250,065,098.94 |
100.00%
|
|
|||||||||||||||||||||
|
*
|
Percentages may not total 100% due to rounding
|
|
Page 4 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026 |
|
IV.
|
2015-1 Portfolio Characteristics (cont'd)
|
|
07/31/2026
|
06/30/2026
|
|||||||
|
Pool Balance
|
$
|
250,989,971.63
|
$
|
252,896,298.80
|
||||
|
Outstanding Borrower Accrued Interest
|
$
|
13,002,938.88
|
$
|
12,999,678.59
|
||||
|
Borrower Accrued Interest to be Capitalized
|
$
|
2,922,882.45
|
$
|
2,831,199.86
|
||||
|
Borrower Accrued Interest >30 Days Delinquent
|
$
|
1,299,984.23
|
$
|
1,339,240.95
|
||||
|
Total # Loans
|
24,825
|
25,136
|
||||||
|
Total # Borrowers
|
10,742
|
10,894
|
||||||
|
Weighted Average Coupon
|
6.57%
|
|
6.64%
|
|
||||
|
Weighted Average Remaining Term
|
207.78
|
207.94
|
||||||
|
Non-Reimbursable Losses
|
$
|
31,671.01
|
$
|
26,810.76
|
||||
|
Cumulative Non-Reimbursable Losses
|
$
|
6,146,621.45
|
$
|
6,114,950.44
|
||||
|
Since Issued Constant Prepayment Rate (CPR)
|
-3.56%
|
|
-3.55%
|
|
||||
|
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
|
$
|
862,973.19
|
$
|
908,494.67
|
||||
|
Borrower Interest Accrued
|
$
|
1,335,880.64
|
$
|
1,315,484.25
|
||||
|
Interest Subsidy Payments Accrued
|
$
|
43,394.47
|
$
|
43,289.85
|
||||
|
Special Allowance Payments Accrued
|
$
|
108,718.34
|
$
|
101,045.33
|
||||
|
Page 5 of 9
|
Trust 2015-1 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026 |
|
V.
|
2015-1 Portfolio Statistics by School and Program
|
|
A
|
LOAN TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
% *
|
||||||||||||
|
- GSL (1) - Subsidized
|
6.55%
|
|
11,143
|
57,371,254.35
|
23.127%
|
|
|||||||||||
|
- GSL - Unsubsidized
|
6.69%
|
|
9,492
|
80,457,944.54
|
32.434%
|
|
|||||||||||
|
- PLUS (2) Loans
|
8.26%
|
|
329
|
7,552,973.65
|
3.045%
|
|
|||||||||||
|
- SLS (3) Loans
|
7.15%
|
|
32
|
316,877.43
|
0.128%
|
|
|||||||||||
|
- Consolidation Loans
|
6.37%
|
|
3,829
|
102,368,039.21
|
41.266%
|
|
|||||||||||
|
Total
|
6.57%
|
|
24,825
|
$
|
248,067,089.18
|
100.000%
|
|
||||||||||
|
B
|
SCHOOL TYPE
|
Weighted
Average Coupon
|
# LOANS
|
$ AMOUNT
|
% *
|
||||||||||||
|
- Four Year
|
6.73%
|
|
16,978
|
124,425,754.88
|
50.158%
|
|
|||||||||||
|
- Two Year
|
6.67%
|
|
3,184
|
16,532,657.88
|
6.665%
|
|
|||||||||||
|
- Technical
|
6.66%
|
|
832
|
4,738,169.76
|
1.910%
|
|
|||||||||||
|
- Other
|
6.37%
|
|
3,831
|
102,370,506.66
|
41.267%
|
|
|||||||||||
|
Total
|
6.57%
|
|
24,825
|
$
|
248,067,089.18
|
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 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026 |
|
VI.
|
2015-1 Waterfall for Distributions
|
|
Paid
|
Remaining
Funds Balance
|
||||||||
|
Total Available Funds
|
$
|
3,104,930.50
|
|||||||
|
A
|
Trustee Fees
|
-
|
$
|
3,104,930.50
|
|||||
|
B
|
Primary Servicing Fee
|
$
|
53,025.38
|
$
|
3,051,905.12
|
||||
|
C
|
Administration Fee
|
$
|
6,667.00
|
$
|
3,045,238.12
|
||||
|
D
|
Class A Noteholders' Interest Distribution Amount
|
$
|
775,853.84
|
$
|
2,269,384.28
|
||||
|
E
|
Class B Noteholders' Interest Distribution Amount
|
$
|
112,500.63
|
$
|
2,156,883.65
|
||||
|
F
|
Reserve Account Reinstatement
|
-
|
$
|
2,156,883.65
|
|||||
|
G
|
Class A Noteholders' Principal Distribution Amount
|
$
|
1,877,732.26
|
$
|
279,151.39
|
||||
|
H
|
Class B Noteholders' Principal Distribution Amount
|
-
|
$
|
279,151.39
|
|||||
|
I
|
Unpaid Expenses of The Trustees
|
-
|
$
|
279,151.39
|
|||||
|
J
|
Carryover Servicing Fee
|
-
|
$
|
279,151.39
|
|||||
|
K
|
Remaining Amounts to the Noteholders after the first auction date
|
-
|
$
|
279,151.39
|
|||||
|
L
|
Excess Distribution Certificateholder
|
$
|
279,151.39
|
-
|
|||||
|
Waterfall Triggers
|
|||||
|
A
|
Student Loan Principal Outstanding
|
$
|
248,067,089.18
|
||
|
B
|
Interest to be Capitalized
|
$
|
2,922,882.45
|
||
|
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
|
$
|
250,989,971.63
|
||
|
G
|
Class A Notes Outstanding (after application of available funds)
|
$
|
220,525,122.06
|
||
|
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 2015-1 Monthly Servicing Report: Collection Period 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026 |
|
VII.
|
2015-1 Distributions
|
|
A2
|
B |
|
||||||
|
Cusip/Isin
|
63939FAB6
|
63939FAC4
|
||||||
|
Beginning Balance
|
$
|
222,402,854.32
|
$
|
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
|
7/27/2026
|
7/27/2026
|
||||||
|
Accrual Period End
|
8/25/2026
|
8/25/2026
|
||||||
|
Daycount Fraction
|
0.08055556
|
0.08055556
|
||||||
|
Interest Rate*
|
4.33056%
|
|
5.23056%
|
|
||||
|
Accrued Interest Factor
|
0.003488507
|
0.004213507
|
||||||
|
Current Interest Due
|
$
|
775,853.84
|
$
|
112,500.63
|
||||
|
Interest Shortfall from Prior Period Plus Accrued Interest
|
-
|
-
|
||||||
|
Total Interest Due
|
$
|
775,853.84
|
$
|
112,500.63
|
||||
|
Interest Paid
|
$
|
775,853.84
|
$
|
112,500.63
|
||||
|
Interest Shortfall
|
-
|
-
|
||||||
|
Principal Paid
|
$
|
1,877,732.26
|
-
|
|||||
|
Ending Principal Balance
|
$
|
220,525,122.06
|
$
|
26,700,000.00
|
||||
|
Paydown Factor
|
0.002981947
|
0.000000000
|
||||||
|
Ending Balance Factor
|
0.350206641
|
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 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026 |
|
VIII.
|
2015-1 Reconciliations
|
|
A
|
Principal Distribution Reconciliation
|
||||
|
Notes Outstanding Principal Balance
|
$
|
249,102,854.32
|
|||
|
Adjusted Pool Balance
|
$
|
250,989,971.63
|
|||
|
Overcollateralization Amount
|
$
|
3,764,849.57
|
|||
|
Principal Distribution Amount
|
$
|
1,877,732.26
|
|||
|
Principal Distribution Amount Paid
|
$
|
1,877,732.26
|
|||
|
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
|
$
|
268,845.50
|
|||
|
Deposits for the Period
|
$
|
131,867.23
|
|||
|
Release to Collection Account
|
-
|
||||
|
Ending Balance
|
$
|
400,712.73
|
|||
|
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 07/01/2026 - 07/31/2026, Distribution Date 08/25/2026 |