On September 2, 2026, SLM Student Loan Trust 2003-1 filed a Current Report on Form 8-K. The filing details the portfolio composition of the trust as of July 31, 2026, a date designated as the statistical disclosure date. The administrator for the trust, Navient Solutions, LLC, furnished a preliminary remarketing memorandum to a qualified institutional buyer.
The trust holds a total of 4,749 loans with an aggregate outstanding principal balance of $159,869,941. This balance includes accrued interest of $1,253,205 to be capitalized. The portfolio consists of 2,713 borrowers, with an average outstanding principal balance per borrower of $58,927.
The interest rates for the loans range from 5.01% to 8.51% and above. The weighted average annual interest rate for the pool is 7.42%. The weighted average remaining term to scheduled maturity is 222 months. Approximately 85.48% of the outstanding principal balance is linked to the 30-day Average SOFR rate, while 14.52% is linked to Treasury Bills.
In terms of delinquency, 87.5% of the outstanding principal balance, totaling $139,886,810, is less than 30 days past due. The remainder is distributed across delinquency periods ranging from 31 to 210 days and greater than 210 days.
Regarding payment status, 80.6% of the outstanding principal balance is in repayment. The remaining balance is split between forbearance, at 11.3%, and deferment, at 2.7%. Of the loans in deferment, approximately 57.5% belong to borrowers who had not graduated as of the statistical disclosure date.
The geographic distribution of the loans is widespread, with the largest concentrations in California (12.6% of the pool balance) and Florida (7.6%). Other significant states include Texas, New York, and Illinois.
