SMB Private Education Loan Trust 2025-A

416,000,000 Class A-1A Private Education Loan-Backed Notes 
Security Details:

Fixed Rate: 5.13%
144A CUSIP: 83207EAA4
Reg S CUSIP: U8306GAA3

80,000,000 Class A-1B Private Education Loan-Backed Notes 
Security Details:

30-Day Average SOFR Rate + 1.45%
144A CUSIP: 83207EAB2
Reg S CUSIP: U8306GAB1

43,000,000 Class B Private Education Loan-Backed Notes 
Security Details:

Fixed Rate: 5.86%
144A CUSIP: 83207EAC0
Reg S CUSIP: U8306GAC9

Date of Issue: May 7, 2025

Issue Amount: $ 539,000,000

Servicer: 
Sallie Mae Bank

Indenture Trustee: 
UMB Bank, N.A.

Administrator: 
Sallie Mae Bank

Underwriters: 
Barclays
Bank of America Securities
Goldman Sachs & Co. LLC
J.P. Morgan