NorthStar Education Finance, Inc. Student Loan Asset-Backed Notes, FFEL Trust Monthly Servicing Report Report Date: November 25, 2014.
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- Emil Gallagher
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1 Asset Coverage Portfolio Principal Balance: Accrued Interest: Special Allowance (SAP) and Interest Subsidy payments (ISP) receivable Total Portfolio Student Loan Portfolio 9/30/2014 Activity 10/31/2014 $2,652,305,229 ($17,958,243) $2,634,346,987 $23,564,228 $165,024 $23,729,252 ($3,233,425) ($1,051,189) ($4,284,614) $2,672,636,032 ($18,844,407) $2,653,791,625 Fund Accounts 9/30/2014 Change 10/31/2014 Acquisition Fund $0 Administration Fund $1,227,505 ($630) $1,226,875 Capitalized Interest Fund $0 Collection Fund $28,496,093 ($2,334,120) $26,161,973 Debt Service Fund $38,930,272 ($38,930,036) $235 Reserve Fund $20,243,608 ($335) $20,243,273 Total Fund Account Balances $88,897,477 ($41,265,121) $47,632,357 Servicer Receivable $ 6,652, $2,656,514 $ 9,309, Net Swap Payments due to or from Issuer $0 Total Assets $95,550,046 ($38,608,606) $56,941,440 Notes Outstanding 9/30/2014 % of O/S 10/31/2014 % of O/S Pool Notes and Certificates Balance Securities Balance Securities Factor Student Loan Asset-Backed Notes, Series 2002 A-2 ARS $51,250, % $51,250, % Student Loan Asset-Backed Notes, Series 2002 A-3 ARS $65,500, % $65,500, % Student Loan Asset-Backed Notes, Series 2002 A-4 ARS $65,500, % $65,500, % Student Loan Asset-Backed Notes, Series 2002 A-5 ARS $51,250, % $51,250, % Student Loan Asset-Backed Notes, Series A-1 FRN $0 0.00% $0 0.00% Student Loan Asset-Backed Notes, Series A-2 FRN $0 0.00% $0 0.00% Student Loan Asset-Backed Notes, Series A-3 FRN $0 0.00% $0 0.00% Student Loan Asset-Backed Notes, Series A-4 FRN $0 0.00% $0 0.00% Student Loan Asset-Backed Notes, Series A-1 FRN $0 0.00% $0 0.00% Student Loan Asset-Backed Notes, Series A-2 FRN $107,347, % $74,552, % Student Loan Asset-Backed Notes, Series A-3 FRN $280,000, % $280,000, % Student Loan Asset-Backed Notes, Series A-4 FRN $249,500, % $249,500, % Student Loan Asset-Backed Notes, Series A-1 FRN $12,184, % $0 0.00% Student Loan Asset-Backed Notes, Series A-2 FRN $118,300, % $106,202, % Student Loan Asset-Backed Notes, Series A-3 FRN $227,900, % $227,900, % Student Loan Asset-Backed Notes, Series A-4 FRN $210,700, % $210,700, % Student Loan Asset-Backed Notes, Series A-5 RRN $67,342, % $67,342, % Student Loan Asset-Backed Notes, Series A-1 FRN $193,000, % $193,000, % Student Loan Asset-Backed Notes, Series A-2 RRN $200,000, % $200,000, % Student Loan Asset-Backed Notes, Series A-3 RRN $235,000, % $235,000, % Student Loan Asset-Backed Notes, Series A-4 ARS $82,050, % $82,050, % Student Loan Asset-Backed Notes, Series A-5 ARS $82,025, % $82,025, % Student Loan Asset-Backed Notes, Series A-6 ARS $82,025, % $82,025, % Student Loan Asset-Backed Notes, Series A-7 ARS $82,025, % $82,025, % Student Loan Asset-Backed Notes, Series A-8 ARS $82,025, % $82,025, % Senior Notes $2,544,923, % $2,487,846, % Student Loan Asset-Backed Notes, Series 2000 B ARS $9,500, % $9,500, % Student Loan Asset-Backed Notes, Series 2002 B-1 ARS $37,000, % $37,000, % Student Loan Asset-Backed Notes, Series B-1 ARS $30,000, % $30,000, % Student Loan Asset-Backed Notes, Series B ARS $25,500, % $25,500, % Student Loan Asset-Backed Notes, Series B ARS $20,000, % $20,000, % Student Loan Asset-Backed Notes, Series 2007 B ARS $32,200, % $32,200, % Subordinate Notes $154,200, % $154,200, % $2,699,123, % $2,642,046, % Student Loan Portfolio Account Balances and Other Trust Assets Aggregate Value of Trust Estate Asset Coverage Percentage 9/30/2014 Change 10/31/2014 $2,672,636,032 ($18,844,407) $2,653,791,625 $95,550,046 ($38,608,606) $56,941,440 $2,768,186,078 ($57,453,013) $2,710,733,065 Accrued Interest and Fees on Senior Notes Outstanding Senior Notes $ 4,283,406 ($992,391) $ 3,291,015 $2,544,923,000 ($57,077,000) $2,487,846,000 Senior Asset Percentage % 0.22% % Accrued Interest and Fees on Senior and Subordinate Notes $5,731,362 ($1,884,291) $3,847,071 Outstanding Senior and Subordinate Notes $2,699,123,000 ($57,077,000) $2,642,046,000 Subordinate Asset Percentage % 0.11% % 1
2 Principal Interest ISP & SAP Portfolio Balances 9/30/2014 $2,652,305,229 $23,564,228 ($3,233,425) Student Loan Cash Activity Principal Interest ISP & SAP Payments Received ($18,746,757) ($6,831,455) THE Bonus Applied ($0) ($0) New Acquisitions Refunds $0 Interest Subsidy Payments (ISP) $0 Special Allowance Payments (SAP) Total Cash Activity Portfolio Transactions and Accruals $0 ($18,746,757) ($6,831,455) $0 Student Loan Non-Cash Activity Principal Interest ISP & SAP Borrower Interest Accruals $7,793,501 Interest Subsidy Payment (ISP) Accruals $179,977 Special Allowance Payment (SAP) Accruals ($1,248,485) Capitalized Interest Other Adjustments Total Non-Cash Activity $796,738 ($796,738) ($8,223) ($284) $17,319 $788,515 $6,996,479 ($1,051,189) Total Student Loan Activity ($17,958,243) $165,024 ($1,051,189) Portfolio Balances 10/31/2014 $2,634,346,987 $23,729,252 ($4,284,614) 2
3 Collection Activity Collection Fund During Collection Period Beginning Account Balance 9/30/2014 $28,496,093 Principal Payments Received $16,890,036 Interest Payments Received $6,031,663 Interest Subsidy Payments $0 Special Allowance Payments $0 Investment Income $2,843 Investment Income From Other Trust Funds $3,821 Net Swap Receipts $0 Transfers From Other Trust Funds $185 Total Funds Received $22,928,548 Payments for Waterfall Distribution $5,955,212 Transfers To Other Trust Funds $19,307,455 Total Use of Funds $25,262,667 Ending Account Balance 10/31/2014 $26,161,973 Administration Fund During Collection Period Beginning Account Balance 9/30/2014 $1,227,505 Investment Income $15 Transfers From Collection Fund $1,160,491 Total Sources of Funds $1,160,506 Department of Education Fees $0 Administrative Allowance $1,115,187 Marketing and School Services Expense Allowance $0 Broker-Dealer Fees $22,726 Auction Agent Fees $4,545 Trustee Fees $18,033 Other Activity $630 Transfers To Collection Fund $15 Total Use of Funds $1,161,136 Ending Account Balance 10/31/2014 $1,226,875 3
4 Security Detail -- Collection Period Floating Rate and Reset Rate Notes -Interest Paid During Collection Period Payment Interest Number Start End Interest Security Description Date Rate of Days Date Date Payment Series A-1 (Paid off) N/A N/A N/A N/A N/A $0 Series A-2 (Paid off) N/A N/A N/A N/A N/A $0 Series A-3 (Paid off) N/A N/A N/A N/A N/A $0 Series A-4 (Paid off) N/A N/A N/A N/A N/A $0 Series A-1 (Paid off) N/A N/A N/A N/A N/A $0 Series A-2 28-Oct % 92 07/28/14 10/27/14 $102,902 Series A-3 28-Oct % 92 07/28/14 10/27/14 $289,872 Series A-4 28-Oct % 92 07/28/14 10/27/14 $296,553 Series A-1 28-Oct % 92 07/28/14 10/27/14 $10,434 Series A-2 28-Oct % 92 07/28/14 10/27/14 $110,378 Series A-3 28-Oct % 92 07/28/14 10/27/14 $235,935 Series A-4 28-Oct % 92 07/28/14 10/27/14 $250,436 Series A-5 28-Oct % 92 07/28/14 10/27/14 $169,532 Series A-1 28-Oct % 92 07/28/14 10/27/14 $165,279 Series A-2 28-Oct % 92 07/28/14 10/27/14 $503,496 Series A-3 28-Oct % 92 07/28/14 10/27/14 $591,607 Payments Made During the Collection Period $2,726,422 Auction Rate Securities - Interest and Fees Paid During Collection Period Payment Interest Number Start End Interest Broker-Dealer Auction Agent Security Description Date Rate of Days Date Date Payment Fees Fees Series 2002 A-2 Notes 24-Oct % 28 09/26/ /23/2014 $59,680 $1,395 $279 Series 2002 A-3 Notes 10-Oct % 28 09/12/ /09/2014 $105,970 $1,783 $357 Series 2002 A-4 Notes 20-Oct % 28 09/22/ /19/2014 $107,176 $1,783 $357 Series 2002 A-5 Notes 24-Oct % 28 09/26/ /23/2014 $67,150 $1,395 $279 Series 2000 B Notes 28-Oct % 28 09/30/ /27/2014 $11,427 $259 $52 Series 2002 B-1 Notes 3-Oct % 28 09/05/ /02/2014 $81,574 $1,007 $ Oct % 28 10/03/ /30/2014 $70,533 $1,007 $201 Series B-1 Notes 8-Oct % 28 09/10/ /07/2014 $26,927 $817 $163 Series B Notes 16-Oct % 28 09/18/ /15/2014 $30,702 $694 $139 Series B Notes 22-Oct % 28 09/24/ /21/2014 $24,080 $544 $109 Series A-4 Notes 9-Oct % 28 09/11/ /08/2014 $103,830 $2,234 $447 Series A-5 Notes 10-Oct % 28 09/12/ /09/2014 $103,926 $2,233 $447 Series A-6 Notes 15-Oct % 28 09/17/ /14/2014 $92,378 $2,233 $447 Series A-7 Notes 16-Oct % 28 09/18/ /15/2014 $102,650 $2,233 $447 Series A-8 Notes 17-Oct % 28 09/19/ /16/2014 $102,650 $2,233 $447 Series 2007-B Notes 10-Oct % 28 09/12/ /09/2014 $38,769 $877 $175 Payments Made During Collection Period $1,129,422 $22,726 $4,545 Interest Payments Paid During Collection Period $3,855,844 Broker-Dealer Fees Paid During Collection Period $22,726 Auction Agent Fees Paid During Collection Period $4,545 Trustee Fee Paid During Collection Period $18,033 Total Payments Made During Collection Period $3,901,148 4
5 Security Detail -- Future Distributions Future Interest Distributions on Floating Rate Notes Security Payment Interest Number Start End Interest Description Date Rate of Days Date Date Payment Series A-1 (Paid off) N/A N/A N/A N/A N/A $0 Series A-2 (Paid off) N/A N/A N/A N/A N/A $0 Series A-3 (Paid off) N/A N/A N/A N/A N/A $0 Series A-4 (Paid off) N/A N/A N/A N/A N/A $0 Series A-1 (Paid off) N/A N/A N/A N/A N/A $0 Series A-2 28-Jan % 92 10/28/2014 1/27/2015 $71,084 Series A-3 28-Jan % 92 10/28/2014 1/27/2015 $288,440 Series A-4 28-Jan % 92 10/28/2014 1/27/2015 $295,278 Series A-1 28-Jan % 92 10/28/2014 1/27/2015 $0 Series A-2 28-Jan % 92 10/28/2014 1/27/2015 $98,547 Series A-3 28-Jan % 92 10/28/2014 1/27/2015 $234,770 Series A-4 28-Jan % 92 10/28/2014 1/27/2015 $249,359 Series A-5 28-Jan % 92 10/28/2014 1/27/2015 $169,188 Series A-1 28-Jan % 92 10/28/2014 1/27/2015 $164,292 Series A-2 28-Jan % 92 10/28/2014 1/27/2015 $502,473 Series A-3 28-Jan % 92 10/28/2014 1/27/2015 $590,406 Total Floating Rate Note Set Aside $2,663,837 Future Interest and Fees Distributions on Auction Rate Securities Security Payment Interest Number Start End Interest Broker-Dealer Auction Agent Description Date Rate of Days Date Date Payment Fees Fees Series 2002 A-2 Notes 21-Nov % 28 10/24/ /20/2014 $39,118 $1,395 $279 Series 2002 A-3 Notes 7-Nov % 28 10/10/ /6/2014 $53,513 $1,783 $357 Series 2002 A-4 Notes 17-Nov % 28 10/20/ /16/2014 $59,592 $1,783 $357 Series 2002 A-5 Notes 21-Nov % 28 10/24/ /20/2014 $41,871 $1,395 $279 Series 2000 B Notes ** 25-Nov % 28 10/28/ /24/2014 $14,539 $259 $52 Series 2002 B-1 Notes ** 28-Nov % 28 10/31/ /27/2014 $68,915 $1,007 $201 Series B-1 Notes 5-Nov % 28 10/8/ /4/2014 $26,903 $817 $163 Series B Notes 13-Nov % 28 10/16/ /12/2014 $30,504 $694 $139 Series B Notes 19-Nov % 28 10/22/ /18/2014 $23,924 $544 $109 Series A-4 Notes 6-Nov % 28 10/9/ /5/2014 $98,150 $2,234 $447 Series A-5 Notes 7-Nov % 28 10/10/ /6/2014 $103,862 $2,233 $447 Series A-6 Notes 12-Nov % 28 10/15/ /11/2014 $90,145 $2,233 $447 Series A-7 Notes 13-Nov % 28 10/16/ /12/2014 $99,141 $2,233 $447 Series A-8 Notes 14-Nov % 28 10/17/ /13/2014 $98,949 $2,233 $447 Series 2007-B Notes 7-Nov % 28 10/10/ /6/2014 $38,518 $877 $175 Auction Rate Note Set Aside $887,646 $21,719 $4,344 ** Estimated Broker-Dealer and Auction Agent Fees Total Interest Payments Set Aside $3,551,483 Broker-Dealer Fees Transfer to Administration Fund $21,719 Auction Agent Fees Transfer to Administration Fund $4,344 Trustee Fee Transfer to Administration Fund $17,557 Total Funds Set Aside $3,595,104 5
6 Portfolio Status Status In School Grace Deferment Forbearance Repayment Grand Total Borrower Status Principal Amount Percentage Number of Loans 9/30/ /31/2014 9/30/ /31/2014 9/30/ /31/2014 $1,680,912 $1,709, % 0.06% $1,322,697 $1,116, % 0.04% $120,267,144 $119,187, % 4.52% 7,796 7,664 $137,093,381 $131,259, % 4.98% 7,213 7,045 $2,391,941,096 $2,381,075, % 90.39% 107, ,758 $2,652,305,229 $2,634,346, % % 122, ,955 Repayment Current Day Delinquent Day Delinquent Day Delinquent Day Delinquent Days Delinquent > 180 Days Delinquent Claims Filed Total Repayment 30 + Days Delinquent 60 + Days Delinquent 90 + Days Delinquent Delinquency Statistics $2,345,807,496 $2,333,457, % 98.00% 104, ,937 $16,200,374 $17,420, % 0.73% 957 1,048 $7,585,766 $7,729, % 0.32% $5,337,815 $4,606, % 0.19% $3,707,138 $4,253, % 0.18% $4,227,508 $3,171, % 0.13% $6,644,706 $7,374, % 0.31% $2,430,294 $3,061, % 0.13% $2,391,941,096 $2,381,075, % % 107, ,758 $43,703,306 $44,555, % 1.87% 2,639 2,669 $27,502,932 $27,135, % 1.14% 1,682 1,621 $19,917,166 $19,405, % 0.81% 1,199 1,128 Portfolio Characteristics Discipline Amount Percentage Number of Loans 9/30/ /31/2014 9/30/ /31/2014 9/30/ /31/2014 Med $1,405,118,243 $1,396,001, % 52.99% 39,436 39,223 Med (Health Professional) $431,154,048 $428,369, % 16.26% 21,991 21,838 Law/MBA $452,029,856 $449,625, % 17.07% 25,048 24,908 Other - Graduate $174,858,131 $173,336, % 6.58% 12,253 12,142 Other - Undergraduate $189,144,951 $187,014, % 7.10% 24,202 23,844 Total $2,652,305,229 $2,634,346, % % 122, ,955 School Type Amount Percentage Number of Loans 9/30/ /31/2014 9/30/ /31/2014 9/30/ /31/2014 Two Year Institution 0.00% 0.00% 0 0 Proprietary School 0.00% 0.00% 0 0 Undergraduate - 4 Year Institution $276,197,930 $273,704, % 10.39% 28,585 28,195 Graduate $2,376,107,299 $2,360,642, % 89.61% 94,345 93,760 Total $2,652,305,229 $2,634,346, % % 122, ,955 Loan Type Amount Percentage Number of Loans 9/30/ /31/2014 9/30/ /31/2014 9/30/ /31/2014 Subsidized Stafford $86,302,889 $85,018, % 3.23% 20,397 20,078 Unsubsidized Stafford $175,265,984 $172,968, % 6.57% 16,856 16,638 PLUS Loans $3,341,407 $3,280, % 0.12% GradPLUS Loans $7,363,838 $7,262, % 0.28% Consolidation $2,380,031,111 $2,365,817, % 89.81% 84,524 84,118 Total $2,652,305,229 $2,634,346, % % 122, ,955 9/30/ /31/2014 Weighted Average Coupon (WAC ) 3.56% 3.55% Weighted Average Remaining Term: Number of Loans 122, ,955 Number of Borrowers 47,166 46,810 Outstanding Loans SAP Indexed to CP/LIBOR (starting 4/1/2012) $2,650,004,381 $2,632,092,963 Outstanding Loans SAP Indexed to T-bill $2,300,848 $2,254,024 CP/LIBOR Based Percent 99.91% 99.91% T-bill Based Percent 0.09% 0.09% 6
7 Triggers Triggers Dates Capitalized Interest Account Step-down Dates January 28, April 27, 2010 $21,372,375 April 28, July 27, 2010 $14,772,375 July 28, October 27, 2010 $3,272,375 October 28, $0 Net Loan Rate Trigger Date N/A Senior Asset Percentage % Subordinate Asset Percentage % 7
8 Waterfall for Distributions Waterfall Fund Balance Calculation Date 11/24/2014 Deposits 10/31/2014 Total Available Funds (Collection Account Balance) $26,161,973 First Payments required under a Joint Sharing Agreement $0 $26,161,973 Second Payments Due the Department of Education a) Consolidation Loan Fees $2,086,871 $24,075,102 a) Quarterly SAP and excess interest $4,284,614 $19,790,488 Third Administrative Fund for Administrative and Servicing Fees $1,151,227 $18,639,261 Fourth Interest on Notes for Payment of Interest Accruing or Coming Due on Senior Notes $3,348,179 $15,291,081 Fifth Principal on Notes for Principal Payments coming Due on Senior Notes $0 $15,291,081 a) Principal Payments Coming Due b) Principal Payments Coming Due c) Principal Payments Coming Due d) Principal Payments Coming Due Sixth Interest on Notes for Payment of Interest Accruing or Coming Due on Subordinate Notes $203,304 $15,087,777 Seventh Principal Account for Principal on Subordinate Notes Due in Coming Month $0 $15,087,777 a) Principal Payments Coming Due b) Principal Payments Coming Due c) Principal Payments Coming Due d) Principal Payments Coming Due Eighth Reserve Fund $0 $15,087,777 Ninth Interest Account for Interest on Junior Subordinate Notes $0 $15,087,777 Tenth Principal Account for Principal on Junior Subordinate Notes $0 $15,087,777 Eleventh Retirement Account Deposit for Scheduled Principal Distributions a) Retirement Account for Scheduled Principal Distribution b) Retirement Account for Scheduled Principal Distribution c) Retirement Account for Scheduled Principal Distribution d) Retirement Account for Scheduled Principal Distribution $0 $15,087,777 $15,087,777 $0 Twelfth Remarketing fees in excess of previously set aside Thirteenth THE Bonus Fourteenth Retirement Account for Scheduled Principal Distributions (Balance of the next schedule distribution) a) Retirement Account for Scheduled Principal Distribution b) Retirement Account for Scheduled Principal Distribution c) Retirement Account for Scheduled Principal Distribution d) Retirement Account for Scheduled Principal Distribution Fifteenth Until Senior Asset Percentage is % to Retirement Account for Scheduled Principal Distributions (Acquisition Fund during revolving period) Sixteenth Interest Account for Carryover Amounts and Interest on Senior Notes Seventeenth Interest Account for Carryover Amounts and Interest on Subordinate Notes Eighteenth Interest Account for Termination Payments Due Under Senior Swap Agreements Nineteenth Interest Account for Termination Payments Due Under Subordinate Swap Agreements Twentieth Acquisition Fund (Revolving period only) Twenty-First Until Subordinate Asset Percentage is % Retirement Account for Redemption or Distribution of Principal with respect to Notes (Acquisition Fund during Revolving Period) Twenty-Second Interest Account to pay carry-over with respect to senior auction Notes Twenty-third Interest Account to pay carry-over with respect to subordinate auction Notes Twenty-fourth Interest Account to pay carry-over with respect to junior auction Notes Twenty-fifth Retirement Account for redemption of, or distribution of principal Twenty-Sixth Funds to Issuer (Subject to release levels) Unencumbered Funds Remaining in Collection Fund $0 8
9 Trend Key Statistics Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Asset Backed Securities $2,813,468,000 $2,758,622,000 $2,758,622,000 $2,758,622,000 $2,699,123,000 $2,699,123,000 $2,699,123,000 $2,642,046,000 Portfolio Principal Balance $2,750,094,871 $2,732,228,784 $2,713,996,837 $2,698,287,526 $2,687,574,892 $2,669,897,210 $2,652,305,229 $2,634,346,987 Portfolio Accrued Interest $29,778,770 $30,097,978 $29,980,444 $29,299,221 $24,188,966 $23,677,702 $23,564,228 $23,729,252 SAP & ISP Receivable -$3,244,512 -$4,302,328 -$2,121,686 -$3,178,105 -$4,237,774 -$2,146,745 -$3,233,425 -$4,284,614 Total Loan Portfolio Number of Loans Number of Borrowers $2,776,629,128 $2,758,024,435 $2,741,855,596 $2,724,408,642 $2,707,526,083 $2,691,428,167 $2,672,636,032 $2,653,791, , , , , , , , ,955 49,225 48,896 48,566 48,191 47,865 47,536 47,166 46,810 Borrower Principal Payments Borrower Interest Payments Weighted Average Coupon (WAC) Weighted Average Remaining Term $17,617,577 $18,575,263 $19,480,574 $17,150,835 $17,018,877 $19,032,185 $18,315,946 $18,746,757 $6,155,571 $6,712,304 $6,797,444 $6,742,610 $6,726,429 $6,956,323 $6,864,673 $6,831, % 3.56% 3.56% 3.56% 3.56% 3.56% 3.56% 3.55% Senior Asset Percentage % % % % % % % % Subordinate Asset Percentage % % % % % % % % 9
10 Maximum Rate -- Lesser of the Following A per annum interest rate which when taken together with the interest rate for the one year period ending on the final day of the proposed auction period results in an average interest rate for such period not being in excess of: Maximum Auction Rate -- (i.e. T-bill Cap) 2000B 2002A 2002B B B B A B a) the average of the 91 Day T-bill rate plus 1.20% if rating is Aa3 or AA- or better 1.20% 1.20% b) the average of the 91 Day T-bill rate plus 1.50% if rating is less than Aa3 or AA- but all are at least any category of A 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% c) the average of the 91 day T-bill plus 1.75% if rating is less than lowest category of A Maximum Interest Rate 2000B 2002A 2002B B B B A B Lesser of : a) stated per annum interest rate 18.00% 18.00% 18.00% 18.00% 18.00% 18.00% 18.00% 18.00% b) highest rate Issuer may legally pay LIBOR Cap 2000B 2002A 2002B B B B A B a) One-Month LIBOR b) Plus spread (i.e. 1.0%) 1.00% 1.50% 1.50% 1.50% 1.50% Net Loan Rate 2000B 2002A 2002B B B B A B The rate of interest per annum equal to the Adjusted Student Loan Portfolio Rate of Return for the calendar month less the Program Expense Percentage a) Adjusted Portfolio Rate of Return -- multiply components listed below by 12 to annualize and divide by the Average Daily Outstanding Principal Balance A) Interest 1) Interest Revenue 2) Interest Subsidy Payments 3) Special Allowance Payments B) Counter Party Swap Payments C) Amount required to be paid to the DOE or to be repaid to Guarantee Agencies with respect to Financed Student Loans that do not qualify for Guarantees $7,793, $7,793, $7,793, $7,793, $7,793, $7,793, $7,793, $179, $179, $179, $179, $179, $179, $179, ($1,248,484.94) ($1,248,484.94) ($1,248,484.94) ($1,248,484.94) ($1,248,484.94) ($1,248,484.94) ($1,248,484.94) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($2,086,871.33) ($2,086,871.33) ($2,086,871.33) ($2,086,871.33) ($2,086,871.33) ($2,086,871.33) ($2,086,871.33) D) The aggregate amount of default claims filed during the month with respect to Financed Student Loans which 1) Exceed the amount the related Guarantee Agency is required to pay ($18,454.48) ($18,454.48) ($18,454.48) ($18,454.48) ($18,454.48) ($18,454.48) ($18,454.48) 2) are payable only by a Guarantor that is in default of its Guarantee obligations and has not provided collateral security sufficient to pay claims $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 E) any reduction in interest as a result of borrower incentive programs * $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 F) any issuer Swap Payments $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Total $4,619, $4,619, $4,619, $4,619, $4,619, $4,619, $4,619, Annualized $55,436, $55,436, $55,436, $55,436, $55,436, $55,436, $55,436, Average Daily Balance $2,639,510,272 $2,639,510,272 $2,639,510,272 $2,639,510,272 $2,639,510,272 $2,639,510,272 $2,639,510,272 Adjusted Portfolio Rate of Return 2.110% 2.110% 2.110% 2.110% 2.110% 2.110% 2.110% Less b) Program Expense Percentage A) Note Fees i) Broker-Dealer Fee ii) Auction-Agent Fee iii) Trustee Fee % % % % % % % % % % % % % % % % % % % % % C) Marketing Expense % % % % % % % D) Servicing Expense % % % % % % % Net Loan Rate % % % % % % % * T.H.E. Bonus is currently not being paid. Reduction in Interest is the result of PLUS Origination Fee Rebates 10
NorthStar Education Finance, Inc. Student Loan Asset-Backed Notes, FFEL Trust Monthly Servicing Report Report Date: July 25, 2014.
Asset Coverage Portfolio Principal Balance: Accrued Interest: Special Allowance (SAP) and Interest Subsidy payments (ISP) receivable Total Portfolio Student Loan Portfolio 5/31/2014 Activity 6/30/2014
More informationTotal 104,300,000 79,408,472 51,767 2,076,410 77,332,061 100.00% (a) Should include Principal Pmts in the current distribution month (b) Footnotes
Student Loan Backed Reporting Mixed Deal FFELP Quarterly Distribution Report Issuer Distribution Date Collection Period Contact Name Contact Number Contact Email Website South Texas Higher Education Authority
More informationStudent Loan Backed Reporting Mixed Deal - FFELP Monthly/Quarterly Distribution Report. Notes/Bonds - Group I (FFELP) Portfolio Summary
Student Loan Backed Reporting Mixed Deal FFELP Monthly/Quarterly Distribution Report Issuer South Texas Higher Education Authority Contact Name Adam Gonzalez Contact Number 9569713304 Contact Email agonzalez@costep.org
More informationStudent Loan Backed Reporting Mixed Deal - FFELP Quarterly Distribution Report. Notes/Bonds - Group I (FFELP) Funds and Accounts
Student Loan Backed Reporting Mixed Deal FFELP Quarterly Distribution Report Issuer South Texas Higher Education Authority Deal Name 20131 Distribution D 4/1/2015 Collection Per Ending 02/28/15 Contact
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