SMB Private Education Loan Trust 2020-A

219,000,000 Class A-1 Private Education Loan-Backed Notes
Security Details:

Floating Rate: One Month LIBOR + 0.30%
144A CUSIP: 78449UAA6
Reg S CUSIP: U8308AAA4

320,000,000 Class A-2A Private Education Loan-Backed Notes
Security Details:

Fixed Rate: 2.23%
144A CUSIP: 78449UAB4
Reg S CUSIP: U8308AAB2

50,000,000 Class A-2B Private Education Loan-Backed Notes
Security Details:

One Month LIBOR + 0.83%
144A CUSIP: 78449UAC2
Reg S CUSIP: U8308AAC0

47,000,000 Class B Private Education Loan-Backed Notes
Security Details:

Fixed Rate: 3.00%
144A CUSIP: 78449UAD0
Reg S CUSIP: U8309A AD7

100,000 Residual Certificates
Security Details:

144A CUSIP: 83192C 107
Reg S CUSIP: U8308AAD8

Date of Issue: February 12, 2020

Issue Amount: $636,000,000

Servicer:
Sallie Mae Bank

Indenture Trustee:
Deutsche Bank National Trust Company

Administrator:
Sallie Mae Bank

Underwriters:
Goldman Sachs & Co. LLC
Barclays
Royal Bank of Canada
J.P. Morgan
Credit Suisse