Asset-Backed Securities

Sallie Mae securitizes private education loan assets by selling private education loans to SMB Private Education Loan Trusts. Select a Trust from the list below to view current/historical reports and ABS issuance details.

SMB Private Education Loan Trusts

The asset-backed securities issued by the Trusts do not represent interests in or obligations of, and are not guaranteed or insured by SLM Corporation, Sallie Mae Bank, or any of their affiliates, in any capacity, or by the United States, any governmental agency, or any other entity. The asset-backed securities issued by an SMB Private Education Loan Trust listed herein are described in an offering memorandum containing information about the terms and conditions of the asset-backed securities, financial characteristics and servicing information related to the underlying student loan assets, trading information about the asset-backed securities, and other issuance details.

Regulation AB Historical Performance Data

The information accessible through the links below provides historical performance data for SMB Private Education Loan Trust static pools as well as historical performance data for Sallie Mae Bank's Smart Option Loan portfolio.

Factor and current rate information extracts

With respect to the SMB Private Education Loan Trusts listed herein, you may view or download current useful payment and trading data and other information. These extracts contain data listed by CUSIP for all SMB Trust securities.

Servicing and distribution reports

Servicing and Distribution Reports for the SMB Private Education Loan Trusts contain statistical, interest rate, and fee information related to the private education loan-backed notes and certificates. The reports also contain cash flow, outstanding balance information, and loan characteristics for the underlying private education loans, as well as the distributions being made to note holders and certificate holders.

All bonds indexed to 1-Month LIBOR will transition to adjusted 1-Month CME Term SOFR after June 30, 2023.  The term “adjusted 1-Month CME Term SOFR” includes the Benchmark Replacement Adjustment of 11.448bps. 

Since Issued CPR

Since Issued CPRs is a pre-payment speed estimate based on the current period's ending pool balance calculated against the original pool balance of a particular issues. See Historical Since Issue CPRs for all SMB Private Education Loan Trusts.

Important legal information concerning SMB Private Education Loan Trust Securities

Unless otherwise disclosed, the asset-backed securities issued by the SMB Private Education Loan Trusts have not been approved or disapproved by the United States Securities and Exchange Commission, any state securities commission or any other regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the offering of the asset-backed securities.

Investment considerations

Investment in securities issued by an SMB Private Education Loan Trust entails certain risks described in the applicable offering documents. Prospective investors should consult their own financial and legal advisors about risks associated with investment in a particular issue of securities and the suitability of investing in the securities in light of their particular circumstances.

No offer or solicitation

The asset-backed securities issued by the SMB Private Education Loan Trusts have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. This website and the information contained in the materials on this website do not constitute an offer or the solicitation of an offer for the purchase or sale of any securities as they have been provided for informational purposes only. The securities described in the materials on this website are traded in the secondary market. For further information concerning secondary market trading, consult with an investment advisor or broker.

No liability

The materials on this website have been electronically converted from the magnetic media format from which the original version of each such document was printed, and no SMB Private Education Loan Trust has tested or verified the accuracy or completeness of any of these documents on this website. Neither SLM Corporation, Sallie Mae Bank, any SMB Private Education Loan Trust, nor any initial purchaser or underwriter assumes any responsibility for errors or omissions in any documents which are referenced by or linked thereto resulting from such electronic conversion. In no event shall SLM Corporation, Sallie Mae Bank, any SMB Private Education Loan Trust, or initial purchaser or underwriter be liable for any special, incidental, indirect, or consequential damages of any kind, or any damages whatsoever, on any theory of liability arising out of or in connection with the use of any materials on this website.