SMB Private Education Loan Trust 2025-B

386,000,000 Class A-1A Private Education Loan-Backed Notes

Security Details:

Fixed Rate: 5.02%
144A CUSIP: 83208BAA9
Reg S CUSIP: U8309BAA1

68,100,000 Class A-1B Private Education Loan-Backed Notes

Security Details:

30-Day Average SOFR Rate + 1.20%
144A CUSIP: 83208BAB7
Reg S CUSIP: U8309BAB9

49,100,000 Class B Private Education Loan-Backed Notes

Security Details:

Fixed Rate: 5.33%
144A CUSIP: 83208BAC5
Reg S CUSIP: U8309BAC7

23,300,000 Class C Private Education Loan-Backed Notes

Security Details:

Fixed Rate: 5.49%
144A CUSIP: 83208BAD3
Reg S CUSIP: U8309BAD5

36,200,000 Class D Private Education Loan-Backed Notes

Security Details:

Fixed Rate: 6.63%
144A CUSIP: 83208BAE1
Reg S CUSIP: U8309BAE3

100,000 Class R Private Education Loan-Backed Notes

Security Details:

Variable Rate
144A CUSIP: 83208BAF8
Reg S CUSIP: U8309BAF0

Date of Issue: July 17, 2025

Issue Amount: $ 562,700,000

Servicer: 
Sallie Mae Bank

Indenture Trustee: 
UMB Bank, N.A.

Administrator: 
Sallie Mae Bank

Underwriters: 
J.P. Morgan