SLM Student Loan Trust 2000-3 Quarterly Servicing Report
Report Date: 3/31/2005 Reporting Period: 1/1/05-3/31/05
I. Deal Parameters
| Student Loan Portfolio Characteristics | 12/31/2004 | Activity | 3/31/2005 | |||||||||||||
| A | i | Portfolio Balance | $ | 806,531,837.71 | $ | (63,953,966.29 | ) | $ | 742,577,871.42 | |||||||
| ii | Interest to be Capitalized | 5,048,063.55 | 4,700,678.73 | |||||||||||||
| iii | Total Pool | $ | 811,579,901.26 | $ | 747,278,550.15 | |||||||||||
| iv | Specified Reserve Account Balance | — | — | |||||||||||||
| v | Total Adjusted Pool | $ | 811,579,901.26 | $ | 747,278,550.15 | |||||||||||
| B | i | Weighted Average Coupon (WAC) | 5.478 | % | 5.535 | % | ||||||||||
| ii | Weighted Average Remaining Term | 110.49 | 110.27 | |||||||||||||
| iii | Number of Loans | 197,748 | 183,762 | |||||||||||||
| iv | Number of Borrowers | 103,489 | 96,788 | |||||||||||||
| % of | % of | |||||||||||||||||||||||||
| Notes and Certificates | Spread | Balance 01/25/05 | O/S Securities | Balance 04/25/05 | O/S Securities | |||||||||||||||||||||
| C | i | A-1T Notes | 78442GCC8 | 0.840 | % | $ | 0.00 | 0.000 | % | $ | 0.00 | 0.000 | % | |||||||||||||
| ii | A-1L Notes | 78442GCD6 | 0.075 | % | 0.00 | 0.000 | % | 0.00 | 0.000 | % | ||||||||||||||||
| iii | A-2L Notes | 78442GCE4 | 0.190 | % | 721,829,901.26 | 88.941 | % | 657,528,550.15 | 87.990 | % | ||||||||||||||||
| iv | Certificates | 78442GCF1 | 0.550 | % | 89,750,000.00 | 11.059 | % | 89,750,000.00 | 12.010 | % | ||||||||||||||||
| v | Total Notes and Certificates | $ | 811,579,901.26 | 100.000 | % | $ | 747,278,550.15 | 100.000 | % | |||||||||||||||||
| Reserve Account | 1/25/2005 | 4/25/2005 | |||||||||||
| D | i | Required Reserve Acct Deposit (%) | 0.25% | 0.25% | |||||||||
| ii | Reserve Acct Initial Deposit ($) | ||||||||||||
| iii | Specified Reserve Acct Balance ($) | $ | 2,028,949.75 | $ | 1,868,196.38 | ||||||||
| iv | Reserve Account Floor Balance ($) | $ | 2,503,086.00 | $ | 2,503,086.00 | ||||||||
| v | Current Reserve Acct Balance ($) | $ | 2,503,086.00 | $ | 2,503,086.00 | ||||||||
1
II. 2000-3 Transactions from: 1/1/2005 through: 3/31/2005
| A | Student Loan Principal Activity | |||||||
| i | Regular Principal Collections | $ | 57,819,129.02 | |||||
| ii | Principal Collections from Guarantor | 9,661,597.41 | ||||||
| iii | Principal Reimbursements | 97,854.38 | ||||||
| iv | Other System Adjustments | 0.00 | ||||||
| v | Total Principal Collections | $ | 67,578,580.81 | |||||
| B | Student Loan Non-Cash Principal Activity | |||||||
| i | Other Adjustments | $ | 4,386.81 | |||||
| ii | Capitalized Interest | (3,629,001.33 | ) | |||||
| iii | Total Non-Cash Principal Activity | $ | (3,624,614.52 | ) | ||||
| C | Total Student Loan Principal Activity | $ | 63,953,966.29 | |||||
| D | Student Loan Interest Activity | |||||||
| i | Regular Interest Collections | $ | 6,315,455.79 | |||||
| ii | Interest Claims Received from Guarantors | 488,588.37 | ||||||
| iii | Collection Fees/Returned Items | 58,629.43 | ||||||
| iv | Late Fee Reimbursements | 350,556.12 | ||||||
| v | Interest Reimbursements | 37,660.36 | ||||||
| vi | Other System Adjustments | 0.00 | ||||||
| vii | Special Allowance Payments | 1,201,525.52 | ||||||
| viii | Subsidy Payments | 611,749.84 | ||||||
| ix | Total Interest Collections | $ | 9,064,165.43 | |||||
| E | Student Loan Non-Cash Interest Activity | |||||||
| i | Interest Accrual Adjustment | 1,533.59 | ||||||
| ii | Capitalized Interest | 3,629,001.33 | ||||||
| iii | Total Non-Cash Interest Adjustments | $ | 3,630,534.92 | |||||
| F | Total Student Loan Interest Activity | $ | 12,694,700.35 | |||||
| G | Non-Reimbursable Losses During Collection Period | $ | 2,635.21 | |||||
| H | Cumulative Non-Reimbursable Losses to Date | $ | 2,495,326.96 | |||||
2
III. 2000-3 Collection Account Activity 1/1/2005 through 3/31/2005
| A | Principal Collections | |||||||
| i | Principal Payments Received | $ | 34,128,584.44 | |||||
| ii | Consolidation Principal Payments | 33,352,141.99 | ||||||
| iii | Reimbursements by Seller | 1,748.36 | ||||||
| iv | Borrower Benefits Reimbursed | 2,437.45 | ||||||
| v | Reimbursements by Servicer | 1,504.20 | ||||||
| vi | Re-purchased Principal | 92,164.37 | ||||||
| vii | Total Principal Collections | $ | 67,578,580.81 | |||||
| B | Interest Collections | |||||||
| i | Interest Payments Received | $ | 8,356,814.38 | |||||
| ii | Consolidation Interest Payments | 260,505.14 | ||||||
| iii | Reimbursements by Seller | 1,259.55 | ||||||
| iv | Borrower Benefits Reimbursed | 43.34 | ||||||
| v | Reimbursements by Servicer | 32,121.60 | ||||||
| vi | Re-purchased Interest | 4,235.87 | ||||||
| vii | Collection Fees/Returned Items | 58,629.43 | ||||||
| viii | Late Fees | 350,556.12 | ||||||
| ix | Total Interest Collections | $ | 9,064,165.43 | |||||
| C | Other Reimbursements | $ | 312,099.49 | |||||
| D | Administrator Account Investment Income | $ | 0.00 | |||||
| E | Return funds borrowed for previous distribution | $ | 0.00 | |||||
| TOTAL FUNDS RECEIVED | $ | 76,954,845.73 | ||||||
| LESS FUNDS PREVIOUSLY REMITTED: | ||||||||
| Servicing Fees | $ | (1,017,680.82 | ) | |||||
| Consolidation Loan Rebate Fees | (417,060.93 | ) | ||||||
| F | TOTAL FUNDS TRANSFERRED TO COLLECTION ACCOUNT | $ | 75,520,103.98 | |||||
| G | Servicing Fee Calculation-Current Month | |||||||
| i | Primary Servicing Fee - Non-Consolidation Loans | $ | 378,786.38 | |||||
| ii | Primary Servicing Fee - Consolidation Loans | 108,266.92 | ||||||
| H | Servicing Fees Due for Current Period | $ | 487,053.30 | |||||
| I | Carryover Servicing Fees Due | $ | 0.00 | |||||
| J | Administration Fees Due | $ | 20,000.00 | |||||
| K | Aggregate Swap Fees Due | $ | 25,361.86 | |||||
| L | Total Fees Due for Period | $ | 532,415.16 | |||||
3
IV. 2000-3 Portfolio Characteristics
| Weighted Avg Coupon | # of Loans | % * | Principal Amount | % | ||||||||||||||||||||||||||||||||||||
| STATUS | 12/31/2004 | 3/31/2005 | 12/31/2004 | 3/31/2005 | 12/31/2004 | 3/31/2005 | 12/31/2004 | 3/31/2005 | 12/31/2004 | 3/31/2005 | ||||||||||||||||||||||||||||||
INTERIM: | ||||||||||||||||||||||||||||||||||||||||
In School | ||||||||||||||||||||||||||||||||||||||||
| Current | 3.559 | % | 3.550 | % | 2,175 | 2,066 | 1.100 | % | 1.124 | % | $ | 7,593,880.18 | $ | 7,407,618.64 | 0.942 | % | 0.998 | % | ||||||||||||||||||||||
Grace | ||||||||||||||||||||||||||||||||||||||||
| Current | 3.570 | % | 3.598 | % | 717 | 463 | 0.363 | % | 0.252 | % | $ | 2,625,929.65 | $ | 1,539,413.86 | 0.326 | % | 0.207 | % | ||||||||||||||||||||||
TOTAL INTERIM | 3.562 | % | 3.558 | % | 2,892 | 2,529 | 1.462 | % | 1.376 | % | $ | 10,219,809.83 | $ | 8,947,032.50 | 1.267 | % | 1.205 | % | ||||||||||||||||||||||
REPAYMENT | ||||||||||||||||||||||||||||||||||||||||
Active | ||||||||||||||||||||||||||||||||||||||||
| Current | 5.828 | % | 5.901 | % | 118,063 | 112,231 | 59.704 | % | 61.074 | % | $ | 457,745,483.44 | $ | 427,035,031.94 | 56.755 | % | 57.507 | % | ||||||||||||||||||||||
| 31-60 Days Delinquent | 5.517 | % | 5.697 | % | 8,019 | 6,809 | 4.055 | % | 3.705 | % | $ | 35,337,640.45 | $ | 34,263,382.34 | 4.381 | % | 4.614 | % | ||||||||||||||||||||||
| 61-90 Days Delinquent | 5.333 | % | 5.578 | % | 5,560 | 4,040 | 2.812 | % | 2.198 | % | $ | 24,801,068.18 | $ | 19,566,746.84 | 3.075 | % | 2.635 | % | ||||||||||||||||||||||
| 91-120 Days Delinquent | 5.586 | % | 5.312 | % | 3,498 | 2,605 | 1.769 | % | 1.418 | % | $ | 17,501,842.39 | $ | 12,351,536.92 | 2.170 | % | 1.663 | % | ||||||||||||||||||||||
| > 120 Days Delinquent | 5.100 | % | 5.201 | % | 9,810 | 8,840 | 4.961 | % | 4.811 | % | $ | 42,534,969.68 | $ | 39,317,677.59 | 5.274 | % | 5.295 | % | ||||||||||||||||||||||
Deferment | ||||||||||||||||||||||||||||||||||||||||
| Current | 4.727 | % | 4.730 | % | 26,370 | 25,078 | 13.335 | % | 13.647 | % | $ | 105,390,911.91 | $ | 98,970,554.49 | 13.067 | % | 13.328 | % | ||||||||||||||||||||||
Forbearance | ||||||||||||||||||||||||||||||||||||||||
| Current | 5.095 | % | 5.056 | % | 21,891 | 20,304 | 11.070 | % | 11.049 | % | $ | 106,801,054.60 | $ | 97,375,988.11 | 13.242 | % | 13.113 | % | ||||||||||||||||||||||
TOTAL REPAYMENT | 5.508 | % | 5.563 | % | 193,211 | 179,907 | 97.706 | % | 97.902 | % | $ | 790,112,970.65 | $ | 728,880,918.23 | 97.964 | % | 98.155 | % | ||||||||||||||||||||||
Claims in Process (1) | 4.761 | % | 4.933 | % | 1,639 | 1,321 | 0.829 | % | 0.719 | % | $ | 6,179,708.64 | $ | 4,743,175.88 | 0.766 | % | 0.639 | % | ||||||||||||||||||||||
Aged Claims Rejected (2) | 3.952 | % | 6.048 | % | 6 | 5 | 0.003 | % | 0.003 | % | $ | 19,348.59 | $ | 6,744.81 | 0.002 | % | 0.001 | % | ||||||||||||||||||||||
GRAND TOTAL | 5.478 | % | 5.535 | % | 197,748 | 183,762 | 100.000 | % | 100.000 | % | $ | 806,531,837.71 | $ | 742,577,871.42 | 100.000 | % | 100.000 | % | ||||||||||||||||||||||
(1) Claims filed and unpaid; includes claims rejected aged less than 6 months.
(2) Claims rejected (subject to cure) aged 6 months or more; also includes claims deemed incurable pending repurchase.
4
V. 2000-3 Portfolio Characteristics by Loan Type and School
| LOAN TYPE | WAC | # Loans | $ Amount | % | ||||||||||||
| - GSL — Subsidized | 3.963 | % | 99,817 | $ | 238,858,992.87 | 32.166 | % | |||||||||
| - GSL — Unsubsidized | 3.818 | % | 45,091 | $ | 141,657,707.35 | 19.076 | % | |||||||||
| - PLUS Loans | 4.324 | % | 21,371 | $ | 95,837,344.62 | 12.906 | % | |||||||||
| - SLS Loans | 5.339 | % | 3,231 | $ | 9,958,218.28 | 1.341 | % | |||||||||
| - Consolidation Loans: | 8.389 | % | 14,252 | $ | 256,265,608.30 | 34.510 | % | |||||||||
| - Total | 5.535 | % | 183,762 | $ | 742,577,871.42 | 100.000 | % | |||||||||
| SCHOOL TYPE | WAC | # Loans | $ Amount | % | ||||||||||||
| - Four Year | 4.194 | % | 134,460 | $ | 424,262,139.20 | 57.134 | % | |||||||||
| - Two Year | 3.973 | % | 26,284 | $ | 56,023,656.11 | 7.544 | % | |||||||||
| - Technical | 3.941 | % | 9,716 | $ | 21,577,379.64 | 2.906 | % | |||||||||
| - Other | 8.387 | % | 13,302 | $ | 240,714,696.47 | 32.416 | % | |||||||||
| - Total | 5.535 | % | 183,762 | $ | 742,577,871.42 | 100.00 | % | |||||||||
*Percentages may not total 100% due to rounding.
5
VI. 2000-3 Student Loan Rate Calculation and Floating Rate Swap Payments
| A | Borrower Interest Accrued During Collection Period | $ | 9,596,501.47 | |||||||||||||
| B | Interest Subsidy Payments Accrued During Collection Period | 573,148.15 | ||||||||||||||
| C | SAP Payments Accrued During Collection Period | 1,630,639.80 | ||||||||||||||
| D | INV Earnings Accrued for Collection Period (RESERVE & COLLECTION ACTS) | 333,781.36 | ||||||||||||||
| E | Investment Earnings (ADMINISTRATOR ACCOUNTS) | 0.00 | ||||||||||||||
| F | Net Expected Interest Collections | $ | 12,134,070.78 | |||||||||||||
| G | Student Loan Rate | |||||||||||||||
| i | Days in Calculation Period | 90 | ||||||||||||||
| ii | Days in Year | 360 | ||||||||||||||
| iii | Net Expected Interest Collections | $ | 12,134,070.78 | |||||||||||||
| iv | Primary Servicing Fee | $ | 1,504,734.12 | |||||||||||||
| v | Administration Fee | $ | 20,000.00 | |||||||||||||
| vi | Aggregate Swap Fees | $ | 25,361.86 | |||||||||||||
| vii | Total Pool Balance at Beginning of Collection Period | $ | 811,579,901.26 | |||||||||||||
| viii | Student Loan Rate (ii / i ) * (( iii - iv - v - vi ) / vii ) | 5.21648 | % | |||||||||||||
| H | Floating Rate Swap Payments Due to the Trust | |||||||||||||||
| Class A-1L | Class A-2L | Certificates | ||||||||||||||
| i | Aggregate Notional Swap Amounts | $ | 0.00 | $ | 721,829,901.26 | $ | 89,750,000.00 | |||||||||
| ii | Libor Based Interest Rates/Rate of Return | 0.00000 | % | 2.89000 | % | 3.25000 | % | |||||||||
| iii | Student Loan Rate Cap | 5.21648 | % | 5.21648 | % | 5.21648 | % | |||||||||
| iv | Excess Over Cap ( ii-iii) | 0.00000 | % | 0.00000 | % | 0.00000 | % | |||||||||
| v | Floating Rate Swap Payments Due to the Trust | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||
VII. 2000-3 Accrued Interest Factors
| Accrued | ||||||||
| Int Factor | Accrual Period | Rate | ||||||
| A | Class A-1T T-Bill Based Interest Rate | |||||||
| B | Class A-1T Interest Rate | 0.000000000 | (1/25/05-04/25/05) | 0.00000% | ||||
| C | Class A-1L Libor Based Interest Rate | |||||||
| D | Class A-1L Interest Rate | 0.000000000 | (1/25/05-04/25/05) | 0.00000% | ||||
| E | Class A-2L Libor Based Interest Rate | |||||||
| F | Class A-2L Interest Rate | 0.007225000 | (1/25/05-04/25/05) | 2.89000% | ||||
| G | Certificate Libor Based Rate of Return | |||||||
| H | Certificate Rate of Return | 0.008125000 | (1/25/05-04/25/05) | 3.25000% |
6
X.2000-3 Inputs From Previous Quarterly Servicing Reports 12/31/04
| A | Total Student Loan Pool Outstanding | |||||||||||||||||||
| i | Portfolio Balance | $ | 806,531,837.71 | |||||||||||||||||
| ii | Interest To Be Capitalized | 5,048,063.55 | ||||||||||||||||||
| iii | Total Pool | $ | 811,579,901.26 | |||||||||||||||||
| iv | Specified Reserve Account Balance | 0.00 | ||||||||||||||||||
| v | Total Adjusted Pool | $ | 811,579,901.26 | |||||||||||||||||
| B | Total Note and Certificate Factor | 0.316467109 | ||||||||||||||||||
| C | Total Note and Certificate Balance | $ | 811,579,901.26 | |||||||||||||||||
| D | �� | Note Balance 1/25/2005 | Class A-1T | Class A-1L | Class A-2L | Certificates | ||||||||||||||
| i | Current Factor | 0.000000000 | 0.000000000 | 0.678252198 | 1.000000000 | |||||||||||||||
| ii | Expected Note Balance | $ | 0.00 | $ | 0.00 | $ | 721,829,901.26 | $ | 89,750,000.00 | |||||||||||
| E | Note Principal Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||
| F | Interest Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||
| G | Interest Carryover | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||
| H | Reserve Account Balance | $ | 2,503,086.00 | |||||||||||||||||
| I | Unpaid Primary Servicing Fees from Prior Month(s) | $ | 0.00 | |||||||||||||||||
| J | Unpaid Administration fees from Prior Quarter(s) | $ | 0.00 | |||||||||||||||||
| K | Unpaid Carryover Servicing Fees from Prior Quarter(s) | $ | 0.00 | |||||||||||||||||
| L | Interest Due on Unpaid Carryover Servicing Fees | $ | 0.00 | |||||||||||||||||
| M | Unpaid Floating Rate Swap Payment Reimbursements | $ | 0.00 | |||||||||||||||||
| N | Interest Due on Unpaid Floating Rate Swap Payment Reimbursements | $ | 0.00 | |||||||||||||||||
7
XI. 2000-3 Waterfall for Distributions
| Remaining | ||||||||||||
| Funds Balance | ||||||||||||
| A | Total Available Funds ( Sections III-F + VI-D + VI-H-v ) | $ | 75,853,885.34 | $ | 75,853,885.34 | |||||||
| B | Primary Servicing Fees-Current Month | $ | 487,053.30 | $ | 75,366,832.04 | |||||||
| C | Administration Fee | $ | 20,000.00 | $ | 75,346,832.04 | |||||||
| D | Swap Fees | |||||||||||
| i | Fixed Rate Swap Payment | $ | 12,680.93 | $ | 75,334,151.11 | |||||||
| ii | Fixed Rate Swap Payment | $ | 12,680.93 | $ | 75,321,470.18 | |||||||
| iii | Total Swap Fees | $ | 25,361.86 | |||||||||
| E | Noteholder’s Interest Distribution Amount | |||||||||||
| i | Class A-1T | $ | 0.00 | $ | 75,321,470.18 | |||||||
| ii | Class A-1L | $ | 0.00 | $ | 75,321,470.18 | |||||||
| iii | Class A-2L | $ | 5,215,221.04 | $ | 70,106,249.14 | |||||||
| iv | Total Noteholder's Interest Distribution | $ | 5,215,221.04 | |||||||||
| F | Certificateholder’s Return Distribution Amount | $ | 729,218.75 | $ | 69,377,030.39 | |||||||
| G | Noteholder’s Principal Distribution Amount Paid | |||||||||||
| i | Class A-1T | $ | 0.00 | $ | 69,377,030.39 | |||||||
| ii | Class A-1L | $ | 0.00 | $ | 69,377,030.39 | |||||||
| iii | Class A-2L | $ | 64,301,351.11 | $ | 5,075,679.28 | |||||||
| iv | Total Noteholder's Principal Distribution | $ | 64,301,351.11 | |||||||||
| H | Certificateholder’s Balance Distribution Amount | $ | 0.00 | $ | 5,075,679.28 | |||||||
| I | Increase to the Specified Reserve Account Balance | $ | 0.00 | $ | 5,075,679.28 | |||||||
| J | Floating Rate Swap Payment Reimbursement | $ | 0.00 | $ | 5,075,679.28 | |||||||
| K | Carryover Servicing Fees | $ | 0.00 | $ | 5,075,679.28 | |||||||
| L | Noteholder’s Interest Carryover | |||||||||||
| i | Class A-1T | $ | 0.00 | $ | 5,075,679.28 | |||||||
| ii | Class A-1L | $ | 0.00 | $ | 5,075,679.28 | |||||||
| iii | Class A-2L | $ | 0.00 | $ | 5,075,679.28 | |||||||
| iv | Total Noteholder's Interest Carryover | $ | 0.00 | |||||||||
| M | Certificateholder’s Return Carryover | $ | 0.00 | $ | 5,075,679.28 | |||||||
| N | Excess to Reserve Account | $ | 5,075,679.28 | $ | 0.00 | |||||||
8
XII. 2000-3 Distributions
| A | Distribution Amounts | Class A-1T | Class A-1L | Class A-2L | Certificates | |||||||||||||||
| i | Quarterly Interest Due | $ | 0.00 | $ | 0.00 | $ | 5,215,221.04 | $ | 729,218.75 | |||||||||||
| ii | Quarterly Interest Paid | 0.00 | 0.00 | 5,215,221.04 | 729,218.75 | |||||||||||||||
| iii | Interest Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||
| iv | Interest Carryover Due | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||
| v | Interest Carryover Paid | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| vi | Interest Carryover | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||
| vii | Quarterly Principal Due | $ | 0.00 | $ | 0.00 | $ | 64,301,351.11 | $ | 0.00 | |||||||||||
| viii | Quarterly Principal Paid | 0.00 | 0.00 | 64,301,351.11 | 0.00 | |||||||||||||||
| ix | Quarterly Principal Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||
| x | Total Distribution Amount | $ | 0.00 | $ | 0.00 | $ | 69,516,572.15 | $ | 729,218.75 | |||||||||||
| B | Principal Distribution Reconciliation | |||||||||||||||||||
| i | Notes and Certificates Principal Balance 3/31/05 | $ | 811,579,901.26 | |||||||||||||||||
| ii | Adjusted Pool Balance 3/31/05 | 747,278,550.15 | ||||||||||||||||||
| iii | Adjusted Pool Exceeding Notes and Certificate Balance (i-ii) | $ | 64,301,351.11 | |||||||||||||||||
| iv | Adjusted Pool Balance 12/31/04 | $ | 811,579,901.26 | |||||||||||||||||
| v | Adjusted Pool Balance 3/31/05 | 747,278,550.15 | ||||||||||||||||||
| vi | Current Principal Due (iv-v) | $ | 64,301,351.11 | |||||||||||||||||
| vii | Principal Shortfall from Previous Collection Period | 0.00 | ||||||||||||||||||
| viii | Principal Distribution Amount (vi + vii) | $ | 64,301,351.11 | |||||||||||||||||
| ix | Principal Distribution Amount Paid | $ | 64,301,351.11 | |||||||||||||||||
| x | Principal Shortfall (viii - ix) | $ | 0.00 | |||||||||||||||||
| C | Total Principal Distribution | $ | 64,301,351.11 | |||||||||||||||||
| D | Total Interest Distribution | 5,944,439.79 | ||||||||||||||||||
| E | Total Cash Distributions-Note and Certificates | $ | 70,245,790.90 | |||||||||||||||||
| F | Note & Certificate Balances | 1/25/2005 | Paydown Factor | 4/25/2005 | ||||||||||||||||
| i | A-1T Note Balance | 78442GCC8 | $ | 0.00 | $ | 0.00 | ||||||||||||||
| A-1T Note Pool Factor | 0.000000000 | 0.000000000 | 0.000000000 | |||||||||||||||||
| ii | A-1L Note Balance | 78442GCD6 | $ | 0.00 | $ | 0.00 | ||||||||||||||
| A-1L Note Pool Factor | 0.000000000 | 0.000000000 | 0.000000000 | |||||||||||||||||
| iii | A-2L Note Balance | 78442GCE4 | $ | 721,829,901.26 | $ | 657,528,550.15 | ||||||||||||||
| A-2L Note Pool Factor | 0.678252198 | (0.060419404 | ) | 0.617832793 | ||||||||||||||||
| iv | Certificate Balance | 78442GCF1 | $ | 89,750,000.00 | $ | 89,750,000.00 | ||||||||||||||
| Certificate Pool Factor | 1.000000000 | 0.000000000 | 1.000000000 | |||||||||||||||||
| G | Reserve Account Reconciliation | |||||||||||||||||||
| i | Beginning of Period Balance | $ | 2,503,086.00 | |||||||||||||||||
| ii | Deposits to correct Shortfall | $ | 0.00 | |||||||||||||||||
| iii | Deposits from Excess Servicing | $ | 5,075,679.28 | |||||||||||||||||
| iv | Total Reserve Account Balance Available | $ | 7,578,765.28 | |||||||||||||||||
| v | Required Reserve Account Balance | $ | 2,503,086.00 | |||||||||||||||||
| vi | Shortfall Carried to Next Period | $ | 0.00 | |||||||||||||||||
| vii | Excess Reserve - Release to Excess Certificateholder | $ | 5,075,679.28 | |||||||||||||||||
| viii | Ending Reserve Account Balance | $ | 2,503,086.00 | |||||||||||||||||
9
XIII. 2000-3 Historical Pool Information
| 2003 | 2002 | |||||||||||||||||||||||||||||||
| 1/1/05-3/31/05 | 10/1/04-12/31/04 | 7/1/04-9/30/04 | 4/1/04-6/30/04 | 1/1/04-3/31/04 | 1/1/03-12/31/03 | 1/1/02-12/31/02 | ||||||||||||||||||||||||||
| Beginning Student Loan Portfolio Balance | $ | 806,531,837.71 | $ | 864,126,892.22 | $ | 967,381,112.62 | $ | 1,010,301,506.14 | $ | 1,084,921,097.54 | $ | 1,476,328,973.78 | $ | 1,944,446,028.31 | ||||||||||||||||||
| Student Loan Principal Activity | ||||||||||||||||||||||||||||||||
| i | Regular Principal Collections | $ | 57,819,129.02 | $ | 53,155,720.87 | $ | 98,665,191.49 | $ | 39,994,919.52 | $ | 71,262,813.06 | $ | 316,028,506.82 | $ | 228,885,061.46 | |||||||||||||||||
| ii | Principal Collections from Guarantor | 9,661,597.41 | 8,234,147.66 | 8,392,683.07 | 7,353,070.90 | 7,947,683.72 | 36,162,094.18 | 44,630,010.74 | ||||||||||||||||||||||||
| iii | Principal Reimbursements | 97,854.38 | 70,525.79 | 73,606.31 | 65,946.17 | 178,998.37 | 64,203,672.94 | 232,325,386.55 | ||||||||||||||||||||||||
| iv | Other System Adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||||||||
| v | Total Principal Collections | $ | 67,578,580.81 | $ | 61,460,394.32 | $ | 107,131,480.87 | $ | 47,413,936.59 | $ | 79,389,495.15 | $ | 416,394,273.94 | $ | 505,840,458.75 | |||||||||||||||||
| Student Loan Non-Cash Principal Activity | ||||||||||||||||||||||||||||||||
| i | Other Adjustments | $ | 4,386.81 | $ | 84,154.17 | $ | 122,410.16 | $ | 114,465.25 | $ | 114,744.00 | $ | 3,431,524.70 | $ | 6,080,524.86 | |||||||||||||||||
| ii | Capitalized Interest | (3,629,001.33 | ) | (3,949,493.98 | ) | (3,999,670.63 | ) | (4,608,008.32 | ) | (4,884,647.75 | ) | (28,417,922.40 | ) | (43,803,929.08 | ) | |||||||||||||||||
| iii | Total Non-Cash Principal Activity | $ | (3,624,614.52 | ) | $ | (3,865,339.81 | ) | $ | (3,877,260.47 | ) | $ | (4,493,543.07 | ) | $ | (4,769,903.75 | ) | $ | (24,986,397.70 | ) | $ | (37,723,404.22 | ) | ||||||||||
| (-) | Total Student Loan Principal Activity | $ | 63,953,966.29 | $ | 57,595,054.51 | $ | 103,254,220.40 | $ | 42,920,393.52 | $ | 74,619,591.40 | $ | 391,407,876.24 | $ | 468,117,054.53 | |||||||||||||||||
| Student Loan Interest Activity | ||||||||||||||||||||||||||||||||
| i | Regular Interest Collections | $ | 6,315,455.79 | $ | 6,617,435.19 | $ | 7,435,500.47 | $ | 7,483,041.95 | $ | 8,254,112.67 | $ | 41,067,714.88 | $ | 63,899,404.91 | |||||||||||||||||
| ii | Interest Claims Received from Guarantors | 488,588.37 | 407,234.25 | 429,774.68 | 392,307.43 | 435,061.97 | 2,189,881.35 | 3,092,493.07 | ||||||||||||||||||||||||
| iii | Collection Fees/Returned Items | 58,629.43 | 46,754.11 | 50,535.89 | 37,612.55 | 44,930.43 | 123,451.32 | 42,786.15 | ||||||||||||||||||||||||
| iv | Late Fee Reimbursements | 350,556.12 | 334,291.15 | 419,137.75 | 311,622.36 | 399,000.27 | 1,505,804.74 | 1,652,712.67 | ||||||||||||||||||||||||
| v | Interest Reimbursements | 37,660.36 | 21,380.97 | 24,631.58 | 18,972.08 | 30,565.00 | 559,607.79 | 2,098,901.46 | ||||||||||||||||||||||||
| vi | Other System Adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||||||||
| vii | Special Allowance Payments | 1,201,525.52 | 694,748.31 | 177,087.71 | 110,132.68 | 117,933.46 | 182,768.49 | 219,806.99 | ||||||||||||||||||||||||
| viii | Subsidy Payments | 611,749.84 | 730,235.43 | 817,117.28 | 837,832.79 | 886,635.62 | 5,101,260.61 | 9,442,294.52 | ||||||||||||||||||||||||
| ix | Total Interest Collections | $ | 9,064,165.43 | $ | 8,852,079.41 | $ | 9,353,785.36 | $ | 9,191,521.84 | $ | 10,168,239.42 | $ | 50,730,489.18 | $ | 80,448,399.77 | |||||||||||||||||
| Student Loan Non-Cash Interest Activity | ||||||||||||||||||||||||||||||||
| i | Interest Accrual Adjustment | $ | 1,533.59 | $ | 2,911.04 | $ | (4,245.38 | ) | $ | 2,203.09 | $ | 2,984.09 | $ | (2,836,706.56 | ) | $ | (5,269,134.48 | ) | ||||||||||||||
| ii | Capitalized Interest | 3,629,001.33 | 3,949,493.98 | 3,999,670.63 | 4,608,008.32 | 4,884,647.75 | 28,417,922.40 | 43,803,929.08 | ||||||||||||||||||||||||
| iii | Total Non-Cash Interest Adjustments | $ | 3,630,534.92 | $ | 3,952,405.02 | $ | 3,995,425.25 | $ | 4,610,211.41 | $ | 4,887,631.84 | $ | 25,581,215.84 | $ | 38,534,794.60 | |||||||||||||||||
| Total Student Loan Interest Activity | $ | 12,694,700.35 | $ | 12,804,484.43 | $ | 13,349,210.61 | $ | 13,801,733.25 | $ | 15,055,871.26 | $ | 76,311,705.02 | $ | 118,983,194.37 | ||||||||||||||||||
| (=) | Ending Student Loan Portfolio Balance | $ | 742,577,871.42 | $ | 806,531,837.71 | $ | 864,126,892.22 | $ | 967,381,112.62 | $ | 1,010,301,506.14 | $ | 1,084,921,097.54 | $ | 1,476,328,973.78 | |||||||||||||||||
| (+) | Interest to be Capitalized | $ | 4,700,678.73 | $ | 5,048,063.55 | $ | 5,560,501.24 | $ | 6,027,978.75 | $ | 6,612,024.34 | $ | 7,082,131.97 | $ | 10,610,688.90 | |||||||||||||||||
| (=) | TOTAL POOL | $ | 747,278,550.15 | $ | 811,579,901.26 | $ | 869,687,393.46 | $ | 973,409,091.37 | $ | 1,016,913,530.48 | $ | 1,092,003,229.51 | $ | 1,486,939,662.68 | |||||||||||||||||
| (+) | Reserve Account Balance | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 2,542,283.83 | $ | 2,730,008.07 | $ | 3,717,349.16 | |||||||||||||||||
| (=) | Total Adjusted Pool | $ | 747,278,550.15 | $ | 811,579,901.26 | $ | 869,687,393.46 | $ | 973,409,091.37 | $ | 1,019,455,814.31 | $ | 1,094,733,237.58 | $ | 1,490,657,011.84 | |||||||||||||||||
10
IX. 2000-3 Payment History and CPRs
| Distribution | Actual | Since Issued | ||||
| Date | Pool Balances | CPR * | ||||
| Oct-00 | $ | 2,369,348,510 | 5.84% | |||
| Jan-01 | $ | 2,311,430,210 | 5.41% | |||
| Apr-01 | $ | 2,250,842,180 | 5.16% | |||
| Jul-01 | $ | 2,171,619,758 | 5.61% | |||
| Oct-01 | $ | 2,075,182,974 | 6.44% | |||
| Jan-02 | $ | 1,960,237,656 | 7.55% | |||
| Apr-02 | $ | 1,842,174,077 | 8.54% | |||
| Jul-02 | $ | 1,748,577,598 | 8.89% | |||
| Oct-02 | $ | 1,604,045,098 | 10.34% | |||
| Jan-03 | $ | 1,486,939,663 | 11.14% | |||
| Apr-03 | $ | 1,379,824,766 | 11.72% | |||
| Jul-03 | $ | 1,316,763,669.95 | 11.43% | |||
| Oct-03 | $ | 1,169,595,599.84 | 12.92% | |||
| Jan-04 | $ | 1,092,003,229.51 | 13.02% | |||
| Apr-04 | $ | 1,016,913,530.48 | 13.11% | |||
| Jul-04 | $ | 973,409,091.37 | 12.60% | |||
| Oct-04 | $ | 869,687,393.46 | 13.43% | |||
| Jan-05 | $ | 811,579,901.26 | 13.36% | |||
| Apr-05 | $ | 747,278,550.15 | 13.48% | |||
* “Since Issued CPR” is based on the current period’s ending pool balance
calculated against the original pool balance and assuming cutoff date pool data.
11
