College Loan Corporation Trust I Quarterly Servicing Report. Distribution Period: 10/26/2017-1/25/2017 Collection Period: 10/1/ /31/2016

Transcription

1 Quarterly Servicing Report Distribution Period: 10/26/2017 1/25/2017 Collection Period: 10/1/ /31/2016

2 I. Deal Parameters Student Loan Portfolio Characteristics 10/1/2016 Activity 12/31/2016 A i Portfolio Principal Balance 2,449,636,256 (90,483,980) 2,359,152,276 ii Accrued Interest 34,510,478 (177,679) 34,332,799 iii Pool Balance 2,484,146,734 (90,661,659) 2,393,485,075 B i Weighted Average Coupon (WAC) 4.611% 4.612% ii Weighted Average Remaining Term iii Number of Loans 263, ,084 iv Number of Borrowers 149, ,963 C Notes CUSIP Balance 10/26/2017 % O/S Securities Balance 1/25/2017 % O/S Securities i 20021A AA9 ii 20021A AB7 iii 20021A AC5 iv 20021A AD3 55,150, % 55,150, % v 20021A AE1 22,900, % 14,700, % vi 20021A AF8 vii 20021A AG6 viii 20021A AH4 ix 20021A AJ0 x 20021B AK7 42,000, % 42,000, % xi 20022A AL5 xii 20022A AM3 1,000, % 1,000, % xiii 20022A AN1 27,750, % 27,750, % xiv 20022A AP6 30,000, % 30,000, % xv 20022A AQ4 xvi 20022A AR2 xvii 20022A AS0 7,600, % 7,600, % xviii 20022A AT8 xix 20022A AU5 xx 20022A AV3 xxi 20022A AW1 xxii 20022A AX9 3,700, % 3,700, % xxiii 20022A AY7 21,100, % 14,100, % xxiv 20022A AZ4 1,200, % 1,200, % xxv 20022A BA8 54,000, % 54,000, % xxvi 20022A BB6 17,950, % 17,950, % xxvii 20022A BC4 19,400, % 17,400, % xxviii 20022A BD2 77,500, % 77,500, % xxix 20022A BE0 6,150, % 6,150, % xxx 20022A BF7 28,100, % 16,100, % xxxi 20022A BG5 20,200, % 8,200, % xxxii 20022B BH3 xxxiii 20022B BJ9 xxxiv 20022B BK6 40,000, % 40,000, % xxxv 20031A BL4 xxxvi 20031A BM2 1,700, % 1,700, % xxxvii 20031A BN0 65,850, % 65,850, % xxxviii 20031A BP5 57,000, % 57,000, % xxxix 20031A BQ3 42,450, % 38,850, % xl 20031A BR1 12,450, % 2,450, % xli 20031A BS9 7,900, % 5,900, % xlii 20031A BT7 16,600, % 10,100, % xliii 20031A BU4 xliv 20031A BV2 I

3 I. Deal Parameters Notes CUSIP Balance 10/26/2017 % O/S Securities Balance 1/25/2017 % O/S Securities xlv 20031B BW0 24,900, % 24,900, % xlvi 20031B BX8 xlvii 20032A BY6 xlviii 20032A BZ3 xlix 20032A CA7 l 20041A CB5 li 20041A CC3 lii 20041A CD1 liii 20041A CE9 50,073, % 50,043, % liv 20041B CF6 11,050, % 11,050, % lv 20051A CG4 lvi 20051A CH2 lvii 20051A CJ8 59,420, % 59,420, % lviii 20051A CK5 214,000, % 206,150, % lix 20051A CL3 137,000, % 137,000, % lx 20051B CM1 600, % 600, % lxi 20061A CN9 lxii 20061A CP4 lxiii 20061A CQ2 lxiv 20061A CR0 195,000, % 195,000, % lxv 20061A CS8 300,000, % 300,000, % lxvi 20061A CT6 250,000, % 250,000, % lxvii 20061A7A CW9 24,525, % 24,525, % lxviii 20061A7B CX7 103,000, % 103,000, % lxix 20061B CV1 475, % 475, % lxx 20061AIO CU3 lxxi 20072A CY5 327,787, % 327,787, % lxxii 20072A CZ2 lxxiii 20072A DA6 lxxiv 20072A DB4 lxxv 20072A DC2 lxxvi 20072A DD0 lxxvii 20072A DE8 lxxviii 20072A DF5 lxxix 20072A DG3 lxxx 20072A DH1 3,425, % 3,425, % lxxxi 20072A DJ7 14,000, % 2,000, % lxxxii 20072A DK4 32,200, % 32,200, % lxxxiii 20072A DL2 31,775, % 31,775, % lxxxiv 20072A DM0 30,125, % 28,125, % lxxxv 20072B DN8 35,000, % 35,000, % 2,524,005, ,438,825, D Reserve Fund Requirement 10/26/2017 1/25/2017 i Required Reserve Fund Balance (%) 0.75% 0.75% ii Reserve Fund Requirement 18,930,045 18,291,194 iii Reserve Fund Floor Balance 3,000,000 3,000,000 iv Reserve Fund Balance After Distribution Date 18,930,045 18,291,194 I

4 I. Deal Parameters E Fund Balances 10/1/ /31/2016 i Acquisition Fund Balance 2,000,000 2,000,000 ii Administration Fund 1,261,864 1,258,862 iii Capitalized Interest Fund iv Collection Fund Balance 40,232, ,506, v Interest Account 4,137,997 4,136,994 vi Reserve Fund Balance 19,346,295 18,716,069 vii Retirement Account 25,507,268 28,963,614 viii Surplus Account ix Total 92,485,933 96,581,941 F Asset Percentage 10/25/2016 1/25/2017 i Portfolio Principal Balance (as of the end of collection period) 2,449,636,256 2,359,152,276 ii Accrued IRB/IRG/SAP (as of the end of collection period) 34,840,478 34,713,501 iii Total Fund Balance 62,562,267 66,384,320 iv Less: Accrued Interest on All Notes (4,392,000) (5,322,000) v Asset Value 2,542,647,001 2,454,928,097 vi Total Bonds Outstanding 2,524,005,951 2,438,825,906 vii Difference 18,641,050 16,102,191 viii Asset Percentage % % I

5 II. Transactions: 10/1/ /31/2016 A Student Loan Principal Collection Activity i Regular Principal Collections (57,442,900) ii Paydown due to Loan Consolidation (22,386,014) iii Principal Claim Collections from Guarantor (15,406,948) iv School Refunds and Cancellations 0 v Other Adjustments vi Total Principal Collections (95,235,862) B Student Loan NonCash Principal Activity i Capitalized Interest 4,812,622 ii Principal Realized Losses WriteOffs (299,525) iii Principal Realized Losses Borrower Benefits (55,500) iv Other Adjustments 294,425 v Total NonCash Principal Activity 4,752,022 C Student Loan Principal Purchases (141) D Total Student Loan Principal Activity (90,483,980) E Student Loan Interest Activity i Regular Interest Collections (19,846,385) ii Interest due to Loan Consolidation (555,821) iii Government Interest Collections (1,314,419) iv Interest Claims Collections from Guarantors (1,056,960) v School Refunds and Cancellations vi Other Adjustments vii Total Interest Collections (22,773,585) F Student Loan NonCash Interest Activity i Regular Interest Accruals 26,445,623 ii Government Interest Accruals 1,292,818 iii Capitalized Interest (4,812,622) iv Interest Realized Losses Writeoffs (19,699) v Other Adjustments (310,207) vi Total NonCash Interest Activity 22,595,913 G Student Loan Interest Purchases (7) H Total Student Loan Interest Activity (177,679) I Defaults Paid this Quarter 13,803,066 J Cumulative Defaults Paid to Date 1,558,406,124 K NonDefault Claims Paid this Quarter 7,148,595 L NonDefault Claims Paid to Date 367,596,386 M NonReimbursable Losses During Collection Period 316,203 N Cumulative NonReimbursable Losses to Date 31,248,126 II

6 III. Monthly Distributions: 10/1/ /31/2016 A Collection Fund Deposits Available 121,649,661 B Distributions i Allocations to the Acquisition Fund (4,815,199) ii Paid or accrued fees owed to the Department of Education (7,669,856) (includes monthly consolidation rebate fees and quarterly LaRS accrual) iii Allocations to the Administration Fund (1,842,614) iv Allocations to the Interest Account for Senior Notes (7,602,283) v Allocations to the Interest Account for Subordinate Notes (773,336) vi Allocations to the Retirement Account (86,813,140) vii Allocations to the Surplus Fund (10,859,342) viii Total Distributions (120,375,769) C Collection Fund Reconciliation i Beginning Balance 40,232,509 ii Deposits During Collection Period 121,649,661 iii Distributions During Collection Period (120,375,769) iv Funds Available for Distribution 41,506,402 III

7 IV

8 V. Waterfall For Distribution: 1/25/2017 Distributions Remaining Funds Balance Funds Available for Distribution 41,506,402 a Payments under the Joint Sharing Agreement 41,506,402 b Payments to the Department of Education 2,109,304 39,397,098 bb Allocations to the Department Rebate Fund 39,397,098 c Allocations to the Administration Fund for payment of servicing, admin and other fees 562,059 38,835,039 d Payment of interest on Senior Notes 2,824,126 36,010,913 e Payment of principal on Senior Notes 36,010,913 f Payment of interest on Subordinate Notes 238,195 35,772,718 g Payment of principal on Subordinate Notes 35,772,718 h Allocations to the Reserve fund to restore Reserve Fund Requirement 35,772,718 i Payment of interest on Junior Subordinate Notes 35,772,718 j Payment of Principal on Junior Subordinate Notes 35,772,718 k Payments required by the Supplemental Indenture to satisfy Rating Agency Conditions 35,772,718 l Allocations to the Acquisition Fund to purchase addon loans or bankruptcy claims 1,830,643 discharged in a court of law m Allocations to the Retirement Fund for the payment of principal on the notes n Allocations to the Acquisition Fund to purchase subsequent disbursements for Stafford and Plus loans o Payment of CarryOver amounts with respect to Senior Notes p Payment of CarryOver amounts with respect to Subordinate Notes q Payment of CarryOver amounts with respect to Junior Subordinate Notes r Senior Swap Agreement Termination Payments s Subordinate Swap Agreement Termination Payments t Junior Subordinate Swap Agreement Termination Payments u Payment of interest on Senior notes with intervals of more than every 60 days v Payment of interest on Subordinate notes with intervals of more than every 60 days w Allocations to the Retirement Fund for the payment of principal on the notes 26,741,543 7,200,532 x Payment of CarryOver Interest with respect to the Series IO note 7,200,532 y Any excess funds to the Surplus Fund 7,200,532 V

9 VI. Trust Fund Reconciliations: 10/1/ /31/2016 A Acquisition Fund i Beginning Balance: 10/1/2016 2,000,000 ii Allocations from Collection Fund 4,815,200 iii Securitization Proceeds iv Loans funded (4,815,200) v Cost of issuance disbursements vi Interest earned 901 vii Interest transferred to Collection Fund (901) viii Ending Balance: 12/31/2016 2,000,000 B Administration Fund i Beginning Balance: 10/1/2016 1,261,864 ii Allocations from Collection Fund 9,512,469 iii Administration fees (613,430) iv Servicing fees (1,122,595) v Broker Dealer fees (25,390) vi Auction Agent fees (19,700) vii Trustee fees (59,499) viii Cost of issuance fees ix Miscellaneous Fees (5,000) x Consolidation Rebate Fees (5,935,936) xi Net LaRS Payable (1,733,920) xii Interest earned 647 xiii Interest transferred to Collection Fund (647) xiv Ending Balance: 12/31/2016 1,258,863 C Capitalized Interest Fund i Beginning Balance: 10/1/2016 ii Securitization Deposit iii Funds released to Collection Fund iv Interest earned v Interest transferred to Collection Fund vi Ending Balance: 12/31/2016 VI

10 VI. Trust Fund Reconciliations: 10/1/ /31/2016 D Interest Account i Beginning Balance: 10/1/2016 4,137,997 ii Allocations from Collection Fund 8,375,619 iii Interest payments on the notes (8,376,622) iv Interest earned 1,974 v Interest transferred to Collection Fund (1,974) vi Ending Balance: 12/31/2016 4,136,994 E Reserve Fund i Beginning Balance: 10/1/ ,346,295 ii Funds released to Collection Fund (634,536) iii Allocations from Collection Fund iv Securitization Deposit v Interest Earned 17,487 vi Interest Transferred to Collection Fund (13,177) vii Ending Balance: 12/31/ ,716,069 F Retirement Account i Beginning Balance: 10/1/ ,507,268 ii Allocations from Collection Fund 86,813,140 iii Transfer from Surplus Fund iv Principal payments or redemption of the notes (83,327,500) v Interest earned 8,361 vi Interest transferred to Collection Fund (37,654) vii Ending Balance: 12/31/ ,963,614 G Surplus Account i Beginning Balance: 10/1/2016 ii Allocations from Collection Fund 11,359,342 iii Transfer to Retirement Account (11,359,342) iv Release to Issuer v Interest earned vi Interest transferred to Collection Fund vii Ending Balance: 12/31/2016 VI

11 VII. LIBOR Rate Note Detail: 10/26/2017 1/25/2017 A LIBOR Rate Notes Interest Payments During Distribution Period Note Description Payment Date LIBOR Spread Interest Rate Start Date End Date Days Outstanding Interest Due Interest Paid Shortfall Accrued Interest Factor 20032A A A A A A A4 12/20/ % % % 10/25/ /20/ A4 1/25/ % % % 10/25/2016 1/25/ , , A A A3 1/25/ % % % 10/25/2016 1/25/ , , A4 1/25/ % % % 10/25/2016 1/25/ , , A5 1/25/ % % % 10/25/2016 1/25/ , , A A A A4 1/25/ % % % 10/25/2016 1/25/ , , A5 1/25/ % % % 10/25/2016 1/25/ , , A6 1/25/ % % % 10/25/2016 1/25/ , , A7A 1/25/ % % % 10/25/2016 1/25/ , , A7B 1/25/ % % % 10/25/2016 1/25/ , , A1 1/25/ % % % 10/25/2016 1/25/ , , AIO Total 4,668,225 4,668,225 B LIBOR Rate Notes Note Balances and Principal Redemptions During Distribution Period Note Description Maturity Date 10/26/2017 Note Balance Note Pool Factor Payment Date Principal Redemption Principal Factor Note Balance Note Pool Factor 20032A1 7/25/ A2 1/25/ A3 7/25/ A1 4/25/ A2 4/25/ A3 4/25/ A4 4/25/ ,073, /20/ , ,043, A1 1/25/ A2 7/25/ A3 10/25/ ,420, ,420, A4 4/25/ ,000, /25/2017 7,850, ,150, A5 10/25/ ,000, ,000, A1 1/25/ A2 4/25/ A3 10/25/ A4 1/25/ ,000, ,000, A5 7/25/ ,000, ,000, A6 1/25/ ,000, ,000, A7A 4/25/ ,525, ,525, A7B 4/25/ ,000, ,000, AIO 7/25/ A1 1/25/ ,787, ,787, Total 1,660,805,951 7,880,044 1,652,925,906 1/25/2017 VII

12 VIII. Auction Rate Note Detail: 10/26/2017 1/25/2017 A Auction Rate Notes Interest and Fee Payments During Distribution Period Note Description Payment Date Interest Rate Start Date End Date Days Outstanding Broker Dealer Fees Auction Agent Fees Interest Due Interest Paid Shortfall 20021A4 11/14/ % 10/14/ /14/ ,034 89, A4 12/9/ % 11/14/ /9/ ,816 74, A4 1/6/ % 12/9/2016 1/6/ ,648 85, A5 11/15/ % 10/18/ /15/ ,338 33, A5 12/13/ % 11/15/ /13/ ,826 34, A5 1/10/ % 12/13/2016 1/10/ ,068 36, A5 1/12/ % 1/10/2017 1/12/ B1 11/1/ % 10/4/ /1/ ,159 65, B1 11/29/ % 11/1/ /29/ ,352 65, B1 12/27/ % 11/29/ /27/ ,670 67, B1 1/24/ % 12/27/2016 1/24/ ,058 22, A11 11/3/ % 10/6/ /3/ ,475 1, A11 12/1/ % 11/3/ /1/ ,481 1, A11 12/29/ % 12/1/ /29/ ,552 1, A12 11/7/ % 10/11/ /7/ ,466 39, A12 12/5/ % 11/7/ /5/ ,142 41, A12 1/3/ % 12/5/2016 1/3/ ,171 45, A13 11/15/ % 10/18/ /15/ ,674 43, A13 12/13/ % 11/15/ /13/ ,624 45, A13 1/10/ % 12/13/2016 1/10/ ,250 47, A16 11/1/ % 10/4/ /1/ ,920 10, A16 11/29/ % 11/1/ /29/ ,198 11, A16 12/27/ % 11/29/ /27/ ,058 12, A16 1/24/ % 12/27/2016 1/24/ ,361 12, A21 11/10/ % 10/13/ /10/ ,403 5, A21 12/8/ % 11/10/ /8/ ,619 5, A21 1/5/ % 12/8/2016 1/5/ ,700 5, A22 11/14/ % 10/14/ /14/ ,064 34, A22 11/28/ % 11/14/ /28/ ,317 5, A22 12/9/ % 11/14/ /9/ ,128 19, A22 1/6/ % 12/9/2016 1/6/ ,897 21, A23 11/8/ % 10/11/ /8/ ,770 1, A23 12/6/ % 11/8/ /6/ ,781 1, A23 1/3/ % 12/6/2016 1/3/ ,896 1, A24 11/14/ % 10/14/ /14/ ,178 87, A24 12/9/ % 11/14/ /9/ ,256 73, A24 1/6/ % 12/9/2016 1/6/ ,862 83, A25 11/14/ % 10/17/ /14/ ,149 21, A25 12/12/ % 11/14/ /12/ ,988 27, A25 1/9/ % 12/12/2016 1/9/ ,959 29, A26 11/14/ % 10/17/ /14/ ,857 22, A26 11/28/ % 11/14/ /28/ ,559 1, A26 12/12/ % 11/14/ /12/ ,130 27, A26 1/9/ % 12/12/2016 1/9/ ,041 29, A27 11/2/ % 10/5/ /2/ , , A27 11/30/ % 11/2/ /30/ , , A27 12/28/ % 11/30/ /28/ , , A27 1/25/ % 12/28/2016 1/25/ , , A28 11/3/ % 10/6/ /3/ ,071 9, A28 12/1/ % 11/3/ /1/ ,108 9, A28 12/29/ % 12/1/ /29/ ,546 9,546 VIII A

13 VII. Auction Rate Note Detail: 10/26/2017 1/25/2017 A Auction Rate Notes Interest and Fee Payments During Distribution Period Note Description Payment Date Interest Rate Start Date End Date Days Outstanding Broker Dealer Fees Auction Agent Fees Interest Due Interest Paid Shortfall 20022A29 11/7/ % 10/11/ /7/ ,964 39, A29 11/28/ % 11/7/ /28/ ,224 2, A29 12/5/ % 11/7/ /5/ ,696 38, A29 1/3/ % 12/5/2016 1/3/ ,486 42, A29 1/12/ % 1/3/2017 1/12/ ,822 3, A29 1/25/ % 1/12/2017 1/25/ ,366 2, A30 11/7/ % 10/11/ /7/ ,728 28, A30 11/28/ % 11/7/ /28/ ,784 7, A30 12/5/ % 11/7/ /5/ ,570 19, A30 1/3/ % 12/5/2016 1/3/ ,487 21, A30 1/25/ % 1/3/2017 1/25/ ,672 6, B4 11/16/ % 10/19/ /16/ ,000 62, B4 12/14/ % 11/16/ /14/ ,736 62, B4 1/11/ % 12/14/2016 1/11/ A2 11/16/ % 10/19/ /16/ ,543 2, A2 12/14/ % 11/16/ /14/ ,666 2, A2 1/11/ % 12/14/2016 1/11/ ,777 2, A3 11/10/ % 10/13/ /10/ ,167 96, A3 12/8/ % 11/10/ /8/ , , A3 1/5/ % 12/8/2016 1/5/ , , A4 11/8/ % 10/11/ /8/ ,075 84, A4 12/6/ % 11/8/ /6/ ,599 84, A4 1/3/ % 12/6/2016 1/3/ ,071 90, A5 11/9/ % 10/12/ /9/ ,418 62, A5 12/7/ % 11/9/ /7/ ,465 64, A5 1/4/ % 12/7/2016 1/4/ ,135 65, A5 1/12/ % 1/4/2017 1/12/ ,784 1, A6 11/8/ % 10/11/ /8/ ,364 18, A6 12/6/ % 11/8/ /6/ ,478 18, A6 1/3/ % 12/6/2016 1/3/ ,673 19, A6 1/12/ % 1/3/2017 1/12/ ,424 5, A7 11/15/ % 10/18/ /15/ ,501 11, A7 11/28/ % 11/15/ /28/ ,412 1, A7 12/13/ % 11/15/ /13/ ,973 8, A7 1/10/ % 12/13/2016 1/10/ ,293 9, A8 11/15/ % 10/18/ /15/ ,166 24, A8 11/28/ % 11/15/ /28/ ,590 4, A8 12/13/ % 11/15/ /13/ ,360 15, A8 1/10/ % 12/13/2016 1/10/ ,908 15, B1 11/2/ % 10/5/ /2/ ,615 38, B1 11/30/ % 11/2/ /30/ ,670 38, B1 12/28/ % 11/30/ /28/ ,328 40, B1 1/25/ % 12/28/2016 1/25/ B1 11/17/ % 10/20/ /17/ ,998 3, B1 12/15/ % 11/17/ /15/ ,228 4, B1 1/12/ % 12/15/2016 1/12/ ,381 5, B1 10/26/ % 9/28/ /26/ B1 11/23/ % 10/26/ /23/ B1 12/21/ % 11/23/ /21/ B1 1/18/ % 12/21/2016 1/18/ B1 11/21/ % 10/24/ /21/ VIII A

14 VII. Auction Rate Note Detail: 10/26/2017 1/25/2017 A Auction Rate Notes Interest and Fee Payments During Distribution Period Note Description Payment Date Interest Rate Start Date End Date Days Outstanding Broker Dealer Fees Auction Agent Fees Interest Due Interest Paid Shortfall 20061B1 12/19/ % 11/21/ /19/ B1 1/17/ % 12/19/2016 1/17/ A10 10/26/ % 10/19/ /26/ A10 11/2/ % 10/26/ /2/ A10 11/9/ % 11/2/ /9/ A10 11/16/ % 11/9/ /16/ A10 11/23/ % 11/16/ /23/ A10 11/30/ % 11/23/ /30/ A10 12/7/ % 11/30/ /7/ A10 12/14/ % 12/7/ /14/ A10 12/21/ % 12/14/ /21/ A10 12/28/ % 12/21/ /28/ A10 1/4/ % 12/28/2016 1/4/ A10 1/11/ % 1/4/2017 1/11/ A10 1/18/ % 1/11/2017 1/18/ A10 1/25/ % 1/18/2017 1/25/ A11 10/31/ % 10/24/ /31/ ,449 5, A11 11/7/ % 10/31/ /7/ ,443 5, A11 11/14/ % 11/7/ /14/ ,449 5, A11 11/21/ % 11/14/ /21/ ,454 5, A11 11/28/ % 11/21/ /28/ ,533 5, A11 12/5/ % 11/28/ /5/ ,639 5, A11 12/12/ % 12/5/ /12/ ,751 5, A11 12/19/ % 12/12/ /19/ ,835 5, A11 12/27/ % 12/19/ /27/ ,849 6, A11 1/3/ % 12/27/2016 1/3/ ,059 6, A11 1/9/ % 1/3/2017 1/9/ ,230 5, A11 1/17/ % 1/9/2017 1/17/ ,944 6, A11 1/23/ % 1/16/2017 1/23/ ,210 6, A11 1/25/ % 1/23/2017 1/25/ ,493 1, A12 10/31/ % 10/24/ /31/ ,532 12, A12 11/7/ % 10/31/ /7/ ,519 12, A12 11/14/ % 11/7/ /14/ ,532 12, A12 11/21/ % 11/14/ /21/ ,545 12, A12 11/28/ % 11/21/ /28/ ,725 12, A12 12/5/ % 11/28/ /5/ ,970 12, A12 12/12/ % 12/5/ /12/ ,228 13, A12 12/19/ % 12/12/ /19/ ,421 13, A12 12/27/ % 12/19/ /27/ ,752 15, A12 1/3/ % 12/27/2016 1/3/ ,936 13, A12 1/9/ % 1/3/2017 1/9/ ,030 12, A12 1/17/ % 1/9/2017 1/17/ ,971 15, A12 1/23/ % 1/17/2017 1/23/ ,004 12, A13 10/26/ % 10/19/ /26/ ,316 12, A13 11/2/ % 10/26/ /2/ ,367 12, A13 11/9/ % 11/2/ /9/ ,341 12, A13 11/16/ % 11/9/ /16/ ,380 12, A13 11/23/ % 11/16/ /23/ ,456 12, A13 11/30/ % 11/23/ /30/ ,659 12, A13 12/7/ % 11/30/ /7/ ,863 12, A13 12/14/ % 12/7/ /14/ ,066 13,066 VIII A

15 VII. Auction Rate Note Detail: 10/26/2017 1/25/2017 A Auction Rate Notes Interest and Fee Payments During Distribution Period Note Description Payment Date Interest Rate Start Date End Date Days Outstanding Broker Dealer Fees Auction Agent Fees Interest Due Interest Paid Shortfall 20072A13 12/21/ % 12/14/ /21/ ,396 13, A13 12/28/ % 12/21/ /28/ ,663 13, A13 1/4/ % 12/28/2016 1/4/ ,765 13, A13 1/11/ % 1/4/2017 1/11/ ,854 13, A13 1/18/ % 1/11/2017 1/18/ ,803 13, A13 1/25/ % 1/18/2017 1/25/ ,828 13, A14 10/27/ % 10/20/ /27/ ,664 11, A14 11/3/ % 10/27/ /3/ ,725 11, A14 11/10/ % 11/3/ /10/ ,713 11, A14 11/17/ % 11/10/ /17/ ,725 11, A14 11/25/ % 11/17/ /25/ ,532 13, A14 11/28/ % 11/25/ /28/ A14 12/1/ % 11/25/ /1/ ,641 9, A14 12/8/ % 12/1/ /8/ ,430 11, A14 12/15/ % 12/8/ /15/ ,588 11, A14 12/22/ % 12/15/ /22/ ,869 11, A14 12/29/ % 12/22/ /29/ ,128 12, A14 1/5/ % 12/29/2016 1/5/ ,229 12, A14 1/12/ % 1/5/2017 1/12/ ,218 12, A14 1/19/ % 1/12/2017 1/19/ ,229 12, B1 11/2/ % 10/5/ /2/ ,046 81, B1 11/30/ % 11/2/ /30/ ,130 81, B1 12/28/ % 11/30/ /28/ ,454 83, B1 1/25/ % 12/28/2016 1/25/ ,690 60,690 Total 25,094 19,763 4,182,449 4,182,449 VIII A

16 VIII. Auction Rate Note Detail: 10/26/2017 1/25/2017 B Auction Rate Notes Note Balances and Principal Redemptions During Distribution Period Note Description Maturity Date Note Balance 10/26/2017 1/25/2017 Note Pool Factor Payment Date Principal Redemption Principal Factor Note Balance Note Pool Factor 20021A1 3/1/ A2 3/1/ A3 3/1/ A4 3/1/ ,150, ,150, A5 3/1/ ,900, /12/2017 8,200, ,700, A6 3/1/ A7 3/1/ A8 3/1/ A9 3/1/ B1 3/1/ ,000, ,000, A10 3/1/ A11 3/1/2042 1,000, ,000, A12 3/1/ ,750, ,750, A13 3/1/ ,000, ,000, A14 3/1/ A15 3/1/ A16 3/1/2042 7,600, ,600, A17 3/1/ A18 3/1/ A19 3/1/ A20 3/1/ A21 3/1/2042 3,700, ,700, A22 3/1/ ,100, /28/2016 7,000, ,100, A23 3/1/2042 1,200, ,200, A24 3/1/ ,000, ,000, A25 3/1/ ,950, ,950, A26 3/1/ ,400, /28/2016 2,000, ,400, A27 3/1/ ,500, ,500, A28 3/1/2042 6,150, ,150, A29 3/1/ ,100, /28/2016 2,000, /12/2017 7,000, /25/2017 3,000, ,100, A30 3/1/ ,200, /28/2016 7,000, /25/2017 5,000, ,200, B2 3/1/ B3 3/1/ B4 3/1/ ,000, ,000, A1 3/1/ A2 3/1/2042 1,700, ,700, A3 3/1/ ,850, ,850, A4 3/1/ ,000, ,000, A5 3/1/ ,450, /12/2017 3,600, ,850, A6 3/1/ ,450, /12/ ,000, ,450, A7 3/1/2042 7,900, /28/2016 2,000, ,900, A8 3/1/ ,600, /28/2016 6,500, ,100, A9 3/1/ A10 3/1/ B1 3/1/ ,900, ,900, B2 3/1/ B1 5/1/ ,050, ,050, B1 1/1/ , , B1 4/25/ , , VIII B

17 VIII. Auction Rate Note Detail: 10/26/2017 1/25/2017 B Auction Rate Notes Note Balances and Principal Redemptions During Distribution Period Note Description Maturity Date Note Balance 10/26/2017 1/25/2017 Note Pool Factor Payment Date Principal Redemption Principal Factor Note Balance Note Pool Factor 20072A2 11/1/ A3 11/1/ A4 11/1/ A5 11/1/ A6 11/1/ A7 11/1/ A8 11/1/ A9 11/1/ A10 11/1/2047 3,425, ,425, A11 11/1/ ,000, /25/ ,000, ,000, A12 11/1/ ,200, ,200, A13 11/1/ ,775, ,775, A14 11/1/ ,125, /28/2016 2,000, ,125, B1 11/1/ ,000, ,000, Total 863,200,000 77,300, ,900,000 VIII B

18 VII. Auction Rate Note Detail: 10/26/2017 1/25/2017 C Auction Rate Notes Net Loan Rate During Distribution Period Series Net Loan Rate as of: Net Loan Rate as of: Net Loan Rate as of: 8/31/2017 9/30/2017 for Auction Date between: for Auction Date between: 9/1/2017 9/30/ /1/ /31/ /31/2017 for Auction Date between: 11/1/ /30/2017 Net Loan Rate as of: 11/30/2017 for Auction Date between: 12/1/ /31/2017 Net Loan Rate as of: 12/31/2017 for Auction Date between: 1/1/2018 1/31/ % 3.30% 4.05% 4.09% 3.30% 4.05% 4.09% 3.30% 4.05% 4.09% 3.30% 4.05% 4.09% 3.30% 4.05% 4.09% 3.30% 4.05% 10.24% 8.00% 10.16% 3.24% 2.56% 3.24% 2.56% 3.24% 2.56% 3.24% 2.56% 3.24% 3.24% 2.56% 2.56% 9.18% 6.62% VIII B

19 IX. Portfolio Characteristics: 10/1/ /31/2016 Weighted Average Coupon Number of Borrowers % Principal Amount % Status 10/1/ /31/ /1/ /31/ /1/ /31/ /1/ /31/ /1/ /31/2016 Interim: In School Current 4.535% 4.350% % 0.13% 1,781,527 1,535, % 0.07% Grace Current 4.610% 4.944% % 0.06% 757, , % 0.03% Total Interim 4.557% 4.524% % 0.19% 2,539,491 2,172, % 0.09% Repayment Active Current 4.540% 4.544% 123, , % 82.99% 1,996,949,510 1,929,984, % 81.81% 3160 Days Delq % 4.951% 3,956 3, % 2.73% 72,124,749 69,897, % 2.96% 6190 Days Delq % 4.932% 2,201 2, % 1.43% 38,936,710 36,417, % 1.54% Days Delq % 4.769% 1,450 1, % 0.95% 27,582,869 24,923, % 1.06% Days Delq % 4.904% 1,049 1, % 0.71% 18,783,950 18,560, % 0.79% Days Delq % 4.904% 1, % 0.60% 17,450,745 15,951, % 0.68% Days Delq % 5.079% % 0.52% 14,199,353 14,466, % 0.61% Days Delq % 4.834% % 0.41% 12,522,582 11,271, % 0.48% Days Delq % 4.822% % 0.43% 8,591,108 9,697, % 0.41% >270 Days Delq % 5.181% % 0.40% 10,494,690 11,525, % 0.49% Deferment Current 4.715% 4.717% 8,562 7, % 5.34% 127,734, ,124, % 4.84% Forbearance Current 5.124% 5.077% 4,150 3, % 2.65% 86,341,533 83,447, % 3.54% Total Repayment 4.609% 4.606% 148, , % 99.15% 2,431,711,837 2,340,268, % 99.20% Claims in Process 4.954% 5.319% % 0.64% 14,733,051 15,820, % 0.67% Aged Claims Rejected 5.975% 6.413% % 0.02% 651, , % 0.04% Grand Total 4.611% 4.612% 149, , ,449,636,256 2,359,152, IX

20 X. Portfolio Characteristics by School Type and Loan Type: 12/31/2016 XII. Portfolio Balances by Servicer: 12/31/2016 Number of Borrowers Average Borrower Indebtedness Principal Amount Servicer Principal Amount XES (formerly ACS) 2,208,917,544 Loan Type Great Lakes 150,234,732 Stafford Subsidized 27,356 6,307 70,968, % Total 2,359,152,276 Stafford Unsubsidiz * * 101,573, % PLUS Loans 870 6,857 5,965, % Consolidation Loans 115,737 18,841 2,180,644, % XIII. Portfolio Balances by Guarantor: 12/31/2016 Total 143,963 16,387 2,359,152, Guarantor Principal Amount School Type ASA 1,763,451,340 Consolidation (n/a) 115,737 18,841 2,180,644, % Great Lakes 271,196,407 4Year 20,463 5, ,892, % ECMC 186,378,373 2Year 3,995 4,505 17,996, % Other 138,126,156 Vocational/Technica 535 4,170 2,230, % Total 2,359,152,276 Graduate 3,233 12,802 41,387, % Total 143,963 16,387 2,359,152, % XIV. Payment History and CPR: 12/31/2016 *The Borrower Count and Average Borrower Indebtedness for Stafford loans represents the total for subsidized and unsubsidized loans due to the fact that a single borrower can have both loan types PBO LifetoDate CPR Current Qtr CPR 2,359,152, % 6.48% XI. Portfolio Balances Pre and Post 04/01/06: 12/31/2016 Principal Amount XV. Portfolio Characteristics by Status Month: 12/31/2016 Pre 04/01/06 % Post 04/01/06 % Status % of Pool W.A. Months Until Repayment Loan Type In School w/ Grace 0.07% 26 Stafford 98,359, % 74,182, % Grace 0.03% 3 PLUS Loans 1,222, % 4,743, % Deferment 4.84% 18 Consolidation Loans 1,885,036, % 295,608, % Forbearance 3.54% 4 Total 1,984,618, % 374,534, % W.A. Months in Repayment Repayment 91.53% 146 XVI. Portfolio Characteristics by Repayment Plan: 12/31/2016 XES (formerly ACS) Repayment Plan Stafford % PLUS % Consolidation % Total % Standard Repayment 133,397, % 4,561, % 1,859,008, % 1,996,967, % IBR 23,900, % 702, % 182,443, % 207,047, % Income Sensitive 650, % 111, % 4,140, % 4,902, % Total 157,948, % 5,376, % 2,045,592, % 2,208,917, Great Lakes Repayment Plan Stafford % PLUS % Consolidation % Total % Standard Repayment 8,795, % 383, % 109,584, % 118,763, % IBR 5,797, % 205, % 25,468, % 31,471, % Total 14,592, % 589, % 135,052, % 150,234, XXVI