SLM Student Loan Trust 2000-4 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 | $ | 554,723,670.95 | $ | (60,014,101.84 | ) | $ | 494,709,569.11 | |||||||
| ii | Interest to be Capitalized | 2,647,410.63 | 2,446,887.40 | |||||||||||||
| iii | Total Pool | $ | 557,371,081.58 | $ | 497,156,456.51 | |||||||||||
| iv | Specified Reserve Account Balance | 0.00 | 0.00 | |||||||||||||
| v | Total Adjusted Pool | $ | 557,371,081.58 | $ | 497,156,456.51 | |||||||||||
| B | i | Weighted Average Coupon (WAC) | 4.027 | % | 4.019 | % | ||||||||||
| ii | Weighted Average Remaining Term | 91.31 | 89.94 | |||||||||||||
| iii | Number of Loans | 227,371 | 208,667 | |||||||||||||
| iv | Number of Borrowers | 105,540 | 97,522 | |||||||||||||
| % of | % of | |||||||||||||||||||||||||
| Notes and Certificates | Spread | Balance 1/25/05 | O/S Securities | Balance 4/25/05 | O/S Securities | |||||||||||||||||||||
| C | i | A-1 Notes | 78442GCH7 | 0.050 | % | $ | 0.00 | 0.000 | % | $ | 0.00 | 0.000 | % | |||||||||||||
| ii | A-2 Notes | 78442GCJ3 | 0.160 | % | 485,464,081.58 | 87.099 | % | 425,249,456.51 | 85.536 | % | ||||||||||||||||
| iii | B Notes | 78442GCK0 | 0.550 | % | 71,907,000.00 | 12.901 | % | 71,907,000.00 | 14.463 | % | ||||||||||||||||
| v | Total Notes | $ | 557,371,081.58 | 100.000 | % | $ | 497,156,456.51 | 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 ($) | |||||||||||
| iii | Specified Reserve Acct Balance ($) | $ | 1,393,427.70 | $ | 1,242,891.14 | |||||||
| iv | Reserve Account Floor Balance ($) | $ | 2,002,418.00 | $ | 2,002,418.00 | |||||||
| v | Current Reserve Acct Balance ($) | $ | 2,002,418.00 | $ | 2,002,418.00 | |||||||
1
II. 2000-4 Transactions from: 1/1/2005 through: 3/31/2005
| A | Student Loan Principal Activity | |||||||
| i | Regular Principal Collections | $ | 53,499,012.73 | |||||
| ii | Principal Collections from Guarantor | 8,545,929.95 | ||||||
| iii | Principal Reimbursements | 25,675.66 | ||||||
| iv | Other System Adjustments | 0.00 | ||||||
| v | Total Principal Collections | $ | 62,070,618.34 | |||||
| B | Student Loan Non-Cash Principal Activity | |||||||
| i | Other Adjustments | $ | 16,288.51 | |||||
| ii | Capitalized Interest | (2,072,805.01 | ) | |||||
| iii | Total Non-Cash Principal Activity | $ | (2,056,516.50 | ) | ||||
| C | Total Student Loan Principal Activity | $ | 60,014,101.84 | |||||
| D | Student Loan Interest Activity | |||||||
| i | Regular Interest Collections | $ | 2,593,282.40 | |||||
| ii | Interest Claims Received from Guarantors | 364,696.91 | ||||||
| iii | Collection Fees/Returned Items | 64,283.82 | ||||||
| iv | Late Fee Reimbursements | 272,192.40 | ||||||
| v | Interest Reimbursements | 33,202.94 | ||||||
| vi | Other System Adjustments | 0.00 | ||||||
| vii | Special Allowance Payments | 1,440,676.41 | ||||||
| viii | Subsidy Payments | 543,686.69 | ||||||
| ix | Total Interest Collections | $ | 5,312,021.57 | |||||
| E | Student Loan Non-Cash Interest Activity | |||||||
| i | Interest Accrual Adjustment | (5,349.68 | ) | |||||
| ii | Capitalized Interest | 2,072,805.01 | ||||||
| iii | Total Non-Cash Interest Adjustments | $ | 2,067,455.33 | |||||
| F | Total Student Loan Interest Activity | $ | 7,379,476.90 | |||||
| G | Non-Reimbursable Losses During Collection Period | $ | 3,786.94 | |||||
| H | Cumulative Non-Reimbursable Losses to Date | $ | 2,198,952.19 | |||||
2
III. 2000-4 Collection Account Activity 1/1/2005 through 3/31/2005
| A | Principal Collections | |||||||
| i | Principal Payments Received | $ | 25,082,758.05 | |||||
| ii | Consolidation Principal Payments | 36,962,184.63 | ||||||
| iii | Reimbursements by Seller | 5,079.55 | ||||||
| iv | Borrower Benefits Reimbursed | 2,486.49 | ||||||
| v | Reimbursements by Servicer | 1,125.57 | ||||||
| vi | Re-purchased Principal | 16,984.05 | ||||||
| vii | Total Principal Collections | $ | 62,070,618.34 | |||||
| B | Interest Collections | |||||||
| i | Interest Payments Received | $ | 4,692,105.69 | |||||
| ii | Consolidation Interest Payments | 250,236.72 | ||||||
| iii | Reimbursements by Seller | 1,804.24 | ||||||
| iv | Borrower Benefits Reimbursed | 103.92 | ||||||
| v | Reimbursements by Servicer | 29,657.18 | ||||||
| vi | Re-purchased Interest | 1,637.60 | ||||||
| vii | Collection Fees/Returned Items | 64,283.82 | ||||||
| viii | Late Fees | 272,192.40 | ||||||
| ix | Total Interest Collections | $ | 5,312,021.57 | |||||
| C | Other Reimbursements | $ | 252,604.75 | |||||
| D | Administrator Account Investment Income | $ | 0.00 | |||||
| E | Return funds borrowed for previous distribution | $ | 0.00 | |||||
| TOTAL FUNDS RECEIVED | $ | 67,635,244.66 | ||||||
| LESS FUNDS PREVIOUSLY REMITTED: | ||||||||
| Servicing Fees | $ | (817,425.35 | ) | |||||
| F | TOTAL FUNDS TRANSFERRED TO COLLECTION ACCOUNT | $ | 66,817,819.31 | |||||
| I | Servicing Fees Due for Current Period | $ | 386,990.29 | |||||
| J | Carryover Servicing Fees Due | $ | 0.00 | |||||
| K | Administration Fees Due | $ | 20,000.00 | |||||
| L | Aggregate Swap Fees Due | $ | 13,934.28 | |||||
| M | Total Fees Due for Period | $ | 420,924.57 | |||||
3
IV. 2000-4 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 | 3.688 | % | 3.708 | % | 1,575 | 1,530 | 0.693 | % | 0.733 | % | $ | 4,995,392.78 | $ | 4,965,332.09 | 0.901 | % | 1.004 | % | ||||||||||||||||||||||
Grace | ||||||||||||||||||||||||||||||||||||||||
| Current | 3.728 | % | 3.662 | % | 471 | 287 | 0.207 | % | 0.138 | % | $ | 1,414,698.30 | $ | 821,720.56 | 0.255 | % | 0.166 | % | ||||||||||||||||||||||
TOTAL INTERIM | 3.696 | % | 3.702 | % | 2,046 | 1,817 | 0.900 | % | 0.871 | % | $ | 6,410,091.08 | $ | 5,787,052.65 | 1.156 | % | 1.170 | % | ||||||||||||||||||||||
REPAYMENT | ||||||||||||||||||||||||||||||||||||||||
Active | ||||||||||||||||||||||||||||||||||||||||
| Current | 4.112 | % | 4.105 | % | 135,037 | 127,049 | 59.391 | % | 60.886 | % | $ | 279,783,106.35 | $ | 251,910,165.47 | 50.436 | % | 50.921 | % | ||||||||||||||||||||||
| 31-60 Days Delinquent | 4.087 | % | 4.158 | % | 9,684 | 8,264 | 4.259 | % | 3.960 | % | $ | 25,800,474.21 | $ | 22,820,175.97 | 4.651 | % | 4.613 | % | ||||||||||||||||||||||
| 61-90 Days Delinquent | 4.128 | % | 4.138 | % | 6,664 | 4,784 | 2.931 | % | 2.293 | % | $ | 19,531,394.32 | $ | 14,449,349.42 | 3.521 | % | 2.921 | % | ||||||||||||||||||||||
| 91-120 Days Delinquent | 4.141 | % | 4.042 | % | 4,065 | 2,883 | 1.788 | % | 1.382 | % | $ | 11,800,789.21 | $ | 9,012,265.15 | 2.127 | % | 1.822 | % | ||||||||||||||||||||||
| > 120 Days Delinquent | 4.117 | % | 4.108 | % | 11,599 | 10,244 | 5.101 | % | 4.909 | % | $ | 35,313,225.24 | $ | 31,328,592.85 | 6.366 | % | 6.333 | % | ||||||||||||||||||||||
Deferment | ||||||||||||||||||||||||||||||||||||||||
| Current | 3.612 | % | 3.604 | % | 30,247 | 28,669 | 13.303 | % | 13.739 | % | $ | 84,379,723.69 | $ | 78,987,081.01 | 15.211 | % | 15.966 | % | ||||||||||||||||||||||
Forbearance | ||||||||||||||||||||||||||||||||||||||||
| Current | 4.078 | % | 4.083 | % | 26,082 | 23,257 | 11.471 | % | 11.146 | % | $ | 86,311,166.27 | $ | 75,810,174.87 | 15.559 | % | 15.324 | % | ||||||||||||||||||||||
TOTAL REPAYMENT | 4.029 | % | 4.022 | % | 223,378 | 205,150 | 98.244 | % | 98.315 | % | $ | 542,919,879.29 | $ | 484,317,804.74 | 97.872 | % | 97.900 | % | ||||||||||||||||||||||
Claims in Process (1) | 4.189 | % | 4.129 | % | 1,940 | 1,692 | 0.853 | % | 0.811 | % | $ | 5,372,277.28 | $ | 4,584,024.86 | 0.968 | % | 0.927 | % | ||||||||||||||||||||||
Aged Claims Rejected (2) | 4.187 | % | 3.681 | % | 7 | 8 | 0.003 | % | 0.004 | % | $ | 21,423.30 | $ | 20,686.86 | 0.004 | % | 0.004 | % | ||||||||||||||||||||||
GRAND TOTAL | 4.027 | % | 4.019 | % | 227,371 | 208,667 | 100.000 | % | 100.000 | % | $ | 554,723,670.95 | $ | 494,709,569.11 | 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.
*Percentages may not total 100% due to rounding.
4
V. 2000-4 Portfolio Characteristics by Loan Type and School
| LOAN TYPE | WAC | # Loans | $ Amount | % | ||||||||||||
| - GSL — Subsidized | 4.010 | % | 140,911 | $ | 297,343,500.88 | 60.105 | % | |||||||||
| - GSL — Unsubsidized | 3.779 | % | 54,732 | 147,907,239.19 | 29.898 | % | ||||||||||
| - PLUS Loans | 4.593 | % | 9,375 | 37,259,289.79 | 7.532 | % | ||||||||||
| - SLS Loans | 5.342 | % | 3,649 | 12,199,539.25 | 2.466 | % | ||||||||||
| - Total | 4.019 | % | 208,667 | $ | 494,709,569.11 | 100.000 | % | |||||||||
| SCHOOL TYPE | WAC | # Loans | $ Amount | % | ||||||||||||
| - Four Year | 4.033 | % | 164,746 | $ | 417,211,550.80 | 84.335 | % | |||||||||
| - Two Year | 3.903 | % | 30,098 | 52,820,941.21 | 10.677 | % | ||||||||||
| - Technical | 4.028 | % | 13,823 | 24,677,077.10 | 4.988 | % | ||||||||||
| - Other | 0.000 | % | 0 | 0.00 | 0.000 | % | ||||||||||
| - Total | 4.019 | % | 208,667 | $ | 494,709,569.11 | 100.000 | % | |||||||||
*Percentages may not total 100% due to rounding.
5
VI. 2000-4 Student Loan Rate Calculation and Floating Rate Swap Payments
| A | Borrower Interest Accrued During Collection Period | $ | 4,440,300.53 | |||||||||||||
| B | Interest Subsidy Payments Accrued During Collection Period | 499,078.78 | ||||||||||||||
| C | SAP Payments Accrued During Collection Period | 1,928,732.40 | ||||||||||||||
| D | INV Earnings Accrued for Collection Period (RESERVE & COLLECTION ACCTS) | 288,670.17 | ||||||||||||||
| E | Investment Earnings (ADMINISTRATOR ACCOUNTS) | 0.00 | ||||||||||||||
| F | Net Expected Interest Collections | $ | 7,156,781.88 | |||||||||||||
| G | Student Loan Rate | |||||||||||||||
| i | Days in Calculation Period | 90 | ||||||||||||||
| ii | Days in Year | 360 | ||||||||||||||
| iii | Net Expected Interest Collections | $ | 7,156,781.88 | |||||||||||||
| iv | Primary Servicing Fee | $ | 1,204,415.64 | |||||||||||||
| v | Administration Fee | $ | 20,000.00 | |||||||||||||
| vi | Aggregate Swap Fees | $ | 13,934.28 | |||||||||||||
| vii | Total Pool Balance at Beginning of Collection Period | $ | 557,371,081.58 | |||||||||||||
| viii | Student Loan Rate (ii / i ) * (( iii - iv - v -vi ) / vii ) | 4.24739 | % | |||||||||||||
| H | Floating Rate Swap Payments Due to the Trust | |||||||||||||||
| Class A-1 | Class A-2 | Class B | ||||||||||||||
| i | Aggregate Notional Swap Amounts | $ | 0.00 | $ | 485,464,081.58 | $ | 71,907,000.00 | |||||||||
| ii | Libor Based Interest Rates | 0.00000 | % | 2.86000 | % | 3.25000 | % | |||||||||
| iii | Student Loan Rate Cap | 4.24739 | % | 4.24739 | % | 4.24739 | % | |||||||||
| 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. 2000-4 Accrued Interest Factors
| Accrued | ||||||||
| Int Factor | Accrual Period | Rate | ||||||
| A | Class A-1 LIBOR Based Interest Rate | 0.000000000 | (1/25/05 - 4/25/05) | 0.00000% | ||||
| B | Class A-2 LIBOR Based Interest Rate | 0.007150000 | (1/25/05 - 4/25/05) | 2.86000% | ||||
| C | Class B LIBOR Based Interest Rate | 0.008125000 | (1/25/05 - 4/25/05) | 3.25000% |
6
VIII.2000-4 Inputs From Previous Collection Period 12/31/04
| A | Total Student Loan Pool Outstanding | |||||||||||||||
| i | Portfolio Balance | $ | 554,723,670.95 | |||||||||||||
| ii | Interest To Be Capitalized | 2,647,410.63 | ||||||||||||||
| iii | Total Pool | $ | 557,371,081.58 | |||||||||||||
| iv | Specified Reserve Account Balance | 0.00 | ||||||||||||||
| v | Total Adjusted Pool | $ | 557,371,081.58 | |||||||||||||
| B | Total Note and Certificate Factor | 0.271295189 | ||||||||||||||
| C | Total Note and Certificate Balance | $ | 557,371,081.58 | |||||||||||||
| D | Note Balance 1/25/2005 | Class A-1 | Class A-2 | Class B | ||||||||||||
| i | Current Factor | 0.000000000 | 0.701918065 | 1.000000000 | ||||||||||||
| ii | Expected Note Balance | $ | 0.00 | $ | 485,464,081.58 | $ | 71,907,000.00 | |||||||||
| iii | Note Principal Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||
| iv | Interest Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||
| v | Interest Carryover | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||
| E | Reserve Account Balance | $ | 2,002,418.00 | |||||||||||||
| F | Unpaid Primary Servicing Fees from Prior Month(s) | $ | 0.00 | |||||||||||||
| G | Unpaid Administration fees from Prior Quarter(s) | $ | 0.00 | |||||||||||||
| H | Unpaid Carryover Servicing Fees from Prior Quarter(s) | $ | 0.00 | |||||||||||||
| I | Interest Due on Unpaid Carryover Servicing Fees | $ | 0.00 | |||||||||||||
| J | Unpaid Floating Rate Swap Payment Reimbursements | $ | 0.00 | |||||||||||||
| K | Interest Due on Unpaid Floating Rate Swap Payment Reimbursements | $ | 0.00 | |||||||||||||
7
IX. 2000-4 Waterfall for Distributions
| Remaining | ||||||||||||
| Funds Balance | ||||||||||||
| A | Total Available Funds ( Sections III-F + VI-D +VI-H-v ) | $ | 67,106,489.48 | $ | 67,106,489.48 | |||||||
| B | Primary Servicing Fees-Current Month | $ | 386,990.29 | $ | 66,719,499.19 | |||||||
| C | Administration Fee | $ | 20,000.00 | $ | 66,699,499.19 | |||||||
| D | Swap Fees | |||||||||||
| i | Fixed Rate Swap Payment | $ | 3,457.55 | $ | 66,696,041.64 | |||||||
| ii | Fixed Rate Swap Payment | $ | 3,457.55 | $ | 66,692,584.09 | |||||||
| iii | Fixed Rate Swap Payment | $ | 7,019.18 | $ | 66,685,564.91 | |||||||
| iv | Total Swap Fees | $ | 13,934.28 | |||||||||
| E | Noteholder’s Interest Distribution Amount | |||||||||||
| i | Class A-1 | $ | 0.00 | $ | 66,685,564.91 | |||||||
| ii | Class A-2 | $ | 3,471,068.18 | $ | 63,214,496.73 | |||||||
| iii | Class B | $ | 584,244.38 | $ | 62,630,252.35 | |||||||
| iv | Total Noteholder's Interest Distribution | $ | 4,055,312.56 | |||||||||
| F | Noteholder’s Principal Distribution Amount Paid | |||||||||||
| i | Class A-1 | $ | 0.00 | $ | 62,630,252.35 | |||||||
| ii | Class A-2 | $ | 60,214,625.07 | $ | 2,415,627.28 | |||||||
| iii | Class B | $ | 0.00 | $ | 2,415,627.28 | |||||||
| iv | Total Noteholder's Principal Distribution | $ | 60,214,625.07 | |||||||||
| G | Increase to the Specified Reserve Account Balance | $ | 0.00 | $ | 2,415,627.28 | |||||||
| H | Floating Rate Swap Payment Reimbursement | $ | 0.00 | $ | 2,415,627.28 | |||||||
| I | Carryover Servicing Fees | $ | 0.00 | $ | 2,415,627.28 | |||||||
| J | Noteholder’s Interest Carryover | |||||||||||
| i | Class A-1 | $ | 0.00 | $ | 2,415,627.28 | |||||||
| ii | Class A-2 | $ | 0.00 | $ | 2,415,627.28 | |||||||
| iii | Class B | $ | 0.00 | $ | 2,415,627.28 | |||||||
| iv | Total Noteholder's Interest Carryover | $ | 0.00 | |||||||||
| K | Excess to Reserve Account | $ | 2,415,627.28 | $ | 0.00 | |||||||
8
X. 2000-4 Distributions
| A | Distribution Amounts | Class A-1 | Class A-2 | Class B | ||||||||||||
| i | Quarterly Interest Due | $ | 0.00 | $ | 3,471,068.18 | $ | 584,244.38 | |||||||||
| ii | Quarterly Interest Paid | 0.00 | 3,471,068.18 | 584,244.38 | ||||||||||||
| iii | Interest Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||
| iv | Interest Carryover Due | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||
| v | Interest Carryover Paid | 0.00 | 0.00 | 0.00 | ||||||||||||
| vi | Interest Carryover | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||
| vii | Quarterly Principal Due | $ | 0.00 | $ | 60,214,625.07 | $ | 0.00 | |||||||||
| viii | Quarterly Principal Paid | 0.00 | 60,214,625.07 | 0.00 | ||||||||||||
| ix | Quarterly Principal Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||
| x | Total Distribution Amount | $ | 0.00 | $ | 63,685,693.25 | $ | 584,244.38 | |||||||||
| B | Principal Distribution Reconciliation | |||||||||||||||
| i | Notes Outstanding Principal Balance 3/31/05 | $ | 557,371,081.58 | |||||||||||||
| ii | Adjusted Pool Balance 3/31/05 | 497,156,456.51 | ||||||||||||||
| iii | Adjusted Pool Exceeding Notes Balance (i-ii) | $ | 60,214,625.07 | |||||||||||||
| iv | Adjusted Pool Balance 12/31/04 | $ | 557,371,081.58 | |||||||||||||
| v | Adjusted Pool Balance 3/31/05 | 497,156,456.51 | ||||||||||||||
| vi | Current Principal Due (iv-v) | $ | 60,214,625.07 | |||||||||||||
| vii | Principal Shortfall from Previous Collection Period | 0.00 | ||||||||||||||
| viii | Principal Distribution Amount (vi + vii) | $ | 60,214,625.07 | |||||||||||||
| ix | Principal Distribution Amount Paid | $ | 60,214,625.07 | |||||||||||||
| x | Principal Shortfall (viii - ix) | $ | 0.00 | |||||||||||||
| C | Total Principal Distribution | $ | 60,214,625.07 | |||||||||||||
| D | Total Interest Distribution | 4,055,312.56 | ||||||||||||||
| E | Total Cash Distributions | $ | 64,269,937.63 | |||||||||||||
| F | Note Balances | 1/25/2005 | Paydown Factor | 4/25/2005 | ||||||||||||||||
| i | A-1 Note Balance | 78442GCH7 | $ | 0.00 | $ | 0.00 | ||||||||||||||
| A-1 Note Pool Factor | 0.000000000 | 0.000000000 | 0.000000000 | |||||||||||||||||
| ii | A-2 Note Balance | 78442GCJ3 | $ | 485,464,081.58 | $ | 425,249,456.51 | ||||||||||||||
| A-2 Note Pool Factor | 0.701918065 | (0.087062534 | ) | 0.614855531 | ||||||||||||||||
| iii | B Note Balance | 78442GCK0 | $ | 71,907,000.00 | $ | 71,907,000.00 | ||||||||||||||
| B Note Pool Factor | 1.000000000 | 0.000000000 | 1.000000000 | |||||||||||||||||
| G | Reserve Account Reconciliation | |||||||||||||||||||
| i | Beginning of Period Balance | $ | 2,002,418.00 | |||||||||||||||||
| ii | Deposits to correct Shortfall | $ | 0.00 | |||||||||||||||||
| iii | Deposits from Excess Servicing | $ | 2,415,627.28 | |||||||||||||||||
| iv | Total Reserve Account Balance Available | $ | 4,418,045.28 | |||||||||||||||||
| v | Required Reserve Account Balance | $ | 2,002,418.00 | |||||||||||||||||
| vi | Shortfall Carried to Next Period | $ | 0.00 | |||||||||||||||||
| vii | Excess Reserve - Release to Excess Certificateholder | $ | 2,415,627.28 | |||||||||||||||||
| viii | Ending Reserve Account Balance | $ | 2,002,418.00 | |||||||||||||||||
9
XI. 2000-4 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 | $ | 554,723,670.95 | $ | 605,167,194.98 | $ | 695,706,822.39 | $ | 728,347,482.29 | $ | 792,546,997.73 | $ | 1,145,989,791.27 | $ | 1,578,868,747.07 | ||||||||||||||||||
| Student Loan Principal Activity | ||||||||||||||||||||||||||||||||
| i | Regular Principal Collections | $ | 53,499,012.73 | $ | 45,465,928.70 | $ | 85,146,523.44 | $ | 28,577,628.69 | $ | 59,988,456.86 | $ | 264,656,972.25 | $ | 167,727,261.92 | |||||||||||||||||
| ii | Principal Collections from Guarantor | 8,545,929.95 | 7,321,044.50 | 7,690,378.55 | 6,790,454.55 | 7,098,516.29 | 36,442,148.74 | 41,894,568.91 | ||||||||||||||||||||||||
| iii | Principal Reimbursements | 25,675.66 | 48,198.35 | 24,964.86 | 40,830.15 | 153,889.73 | 69,788,624.11 | 254,160,432.03 | ||||||||||||||||||||||||
| iv | Other System Adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||||||||
| v | Total Principal Collections | $ | 62,070,618.34 | $ | 52,835,171.55 | $ | 92,861,866.85 | $ | 35,408,913.39 | $ | 67,240,862.88 | $ | 370,887,745.10 | $ | 463,782,262.86 | |||||||||||||||||
| Student Loan Non-Cash Principal Activity | ||||||||||||||||||||||||||||||||
| i | Other Adjustments | $ | 16,288.51 | $ | 95,316.58 | $ | 117,560.88 | $ | 93,542.02 | $ | 90,651.52 | $ | 2,341,712.64 | $ | 4,015,881.48 | |||||||||||||||||
| ii | Capitalized Interest | (2,072,805.01 | ) | (2,486,964.10 | ) | (2,439,800.33 | ) | (2,861,795.52 | ) | (3,131,998.96 | ) | (19,786,664.20 | ) | (34,919,188.54 | ) | |||||||||||||||||
| iii | Total Non-Cash Principal Activity | $ | (2,056,516.50 | ) | $ | (2,391,647.52 | ) | $ | (2,322,239.45 | ) | $ | (2,768,253.50 | ) | $ | (3,041,347.44 | ) | $ | (17,444,951.56 | ) | $ | (30,903,307.06 | ) | ||||||||||
| (-) | Total Student Loan Principal Activity | $ | 60,014,101.84 | $ | 50,443,524.03 | $ | 90,539,627.40 | $ | 32,640,659.89 | $ | 64,199,515.44 | $ | 353,442,793.54 | $ | 432,878,955.80 | |||||||||||||||||
| Student Loan Interest Activity | ||||||||||||||||||||||||||||||||
| i | Regular Interest Collections | $ | 2,593,282.40 | $ | 2,797,136.25 | $ | 3,305,343.39 | $ | 3,260,476.85 | $ | 3,753,074.08 | $ | 21,397,384.56 | $ | 39,962,268.63 | |||||||||||||||||
| ii | Interest Claims Received from Guarantors | 364,696.91 | 303,327.07 | 306,938.38 | 280,812.62 | 324,921.45 | 2,004,768.58 | 2,766,267.54 | ||||||||||||||||||||||||
| iii | Collection Fees/Returned Items | 64,283.82 | 50,564.14 | 57,624.44 | 40,409.03 | 51,755.13 | 156,422.05 | 54,511.93 | ||||||||||||||||||||||||
| iv | Late Fee Reimbursements | 272,192.40 | 243,891.93 | 337,245.72 | 225,050.15 | 310,272.77 | 1,163,462.96 | 1,280,503.02 | ||||||||||||||||||||||||
| v | Interest Reimbursements | 33,202.94 | 34,022.47 | 18,684.70 | 39,087.89 | 28,776.92 | 561,530.85 | 2,353,646.08 | ||||||||||||||||||||||||
| vi | Other System Adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||||||||
| vii | Special Allowance Payments | 1,440,676.41 | 845,853.56 | 236,714.25 | 147,821.25 | 159,947.83 | 250,693.74 | 310,204.48 | ||||||||||||||||||||||||
| viii | Subsidy Payments | 543,686.69 | 660,402.70 | 740,182.49 | 791,062.09 | 824,125.56 | 4,836,844.67 | 9,144,126.01 | ||||||||||||||||||||||||
| ix | Total Interest Collections | $ | 5,312,021.57 | $ | 4,935,198.12 | $ | 5,002,733.37 | $ | 4,784,719.88 | $ | 5,452,873.74 | $ | 30,371,107.41 | $ | 55,871,527.69 | |||||||||||||||||
| Student Loan Non-Cash Interest Activity | ||||||||||||||||||||||||||||||||
| i | Interest Accrual Adjustment | $ | (5,349.68 | ) | $ | (11,791.28 | ) | $ | (3,230.66 | ) | $ | 3,985.51 | $ | 11,735.40 | $ | (1,761,971.82 | ) | $ | (3,370,363.19 | ) | ||||||||||||
| ii | Capitalized Interest | 2,072,805.01 | 2,486,964.10 | 2,439,800.33 | 2,861,795.52 | 3,131,998.96 | 19,786,664.20 | 34,919,188.54 | ||||||||||||||||||||||||
| iii | Total Non-Cash Interest Adjustments | $ | 2,067,455.33 | $ | 2,475,172.82 | $ | 2,436,569.67 | $ | 2,865,781.03 | $ | 3,143,734.36 | $ | 18,024,692.38 | $ | 31,548,825.35 | |||||||||||||||||
| Total Student Loan Interest Activity | $ | 7,379,476.90 | $ | 7,410,370.94 | $ | 7,439,303.04 | $ | 7,650,500.91 | $ | 8,596,608.10 | $ | 48,395,799.79 | $ | 87,420,353.04 | ||||||||||||||||||
| (=) | Ending Student Loan Portfolio Balance | $ | 494,709,569.11 | $ | 554,723,670.95 | $ | 605,167,194.98 | $ | 695,706,822.39 | $ | 728,347,482.29 | $ | 792,546,997.73 | $ | 1,145,989,791.27 | |||||||||||||||||
| (+) | Interest to be Capitalized | $ | 2,446,887.40 | $ | 2,647,410.63 | $ | 3,120,112.72 | $ | 3,391,477.47 | $ | 3,827,555.90 | $ | 4,145,430.98 | $ | 6,559,456.37 | |||||||||||||||||
| (=) | TOTAL POOL | $ | 497,156,456.51 | $ | 557,371,081.57 | $ | 608,287,307.70 | $ | 699,098,299.86 | $ | 732,175,038.19 | $ | 796,692,428.71 | $ | 1,152,549,247.64 | |||||||||||||||||
| (+) | Reserve Account Balance | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,991,731.07 | $ | 2,881,373.12 | |||||||||||||||||
| (=) | Total Adjusted Pool | $ | 497,156,456.51 | $ | 557,371,081.57 | $ | 608,287,307.70 | $ | 699,098,299.86 | $ | 732,175,038.19 | $ | 798,684,159.78 | $ | 1,155,430,620.76 | |||||||||||||||||
10
XII. 2000-4 Payment History and CPRs
| Distribution | Actual | Since Issued | ||||
| Date | Pool Balances | CPR * | ||||
| Oct-00 | $ | 1,962,371,799 | 4.03% | |||
| Jan-01 | $ | 1,908,292,743 | 4.83% | |||
| Apr-01 | $ | 1,858,483,080 | 4.49% | |||
| Jul-01 | $ | 1,783,907,019 | 5.53% | |||
| Oct-01 | $ | 1,697,382,675 | 6.71% | |||
| Jan-02 | $ | 1,589,201,252 | 8.41% | |||
| Apr-02 | $ | 1,482,572,619 | 9.69% | |||
| Jul-02 | $ | 1,400,294,273 | 10.02% | |||
| Oct-02 | $ | 1,263,311,356 | 12.04% | |||
| Jan-03 | $ | 1,152,549,248 | 13.20% | |||
| Apr-03 | $ | 1,051,897,123 | 14.05% | |||
| Jul-03 | $ | 1,000,175,196 | 13.55% | |||
| Oct-03 | $ | 864,071,985 | 15.61% | |||
| Jan-04 | $ | 796,692,429 | 15.74% | |||
| Apr-04 | $ | 732,175,038 | 15.87% | |||
| Jul-04 | $ | 699,098,300 | 15.15% | |||
| Oct-04 | $ | 608,287,308 | 16.33% | |||
| Jan-05 | $ | 557,371,082 | 16.37% | |||
| Apr-05 | $ | 497,156,457 | 16.83% | |||
* “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
