$680,000,000 Class A-1 Student Loan-Backed Notes
$245,000,000 Class A-2A Student Loan-Backed Notes
$100,000,000 Class A-2B Student Loan-Backed Notes
$110,000,000 Class B Student Loan-Backed Notes
| Date of Issue: | May 2, 2013 |
| Issue Amount: | $1,135,000,000 |
Securities Offered:
| Class A-1 Floating Rate Asset-Backed Notes |
|---|
| Rate: | One Month LIBOR + 0.65% |
| CUSIP: | 78447VAA6 |
| Class A-2A Fixed Rate Asset-Backed Notes |
|---|
| Rate: | 1.85% |
| CUSIP: | 78447VAB4 |
| Class A-2B Floating Rate Asset-Backed Notes |
|---|
| Rate: | One Month LIBOR + 1.10% |
| CUSIP: | 78447VAC2 |
| Class B Fixed Rate Asset-Backed Notes |
|---|
| Rate: | 3.00% |
| CUSIP: | 78447VAD0 |
| Master Servicer: | Navient Solutions, LLC |
| Indenture Trustee: | Deutsche Bank National Trust Company |
| Administrator: | Navient Solutions, LLC |
| Underwriters: | Barclays
Credit Suisse
J.P. Morgan |