SMB Private Education Loan Trust 2025-C

1,615,800,000 Class A-1A Private Education Loan-Backed Notes 
Security Details:

Fixed Rate: 4.96%
144A CUSIP: 83208DAA5
Reg S CUSIP: U8313DAA1

179,500,000 Class A-1B Private Education Loan-Backed Notes 
Security Details:

30-Day Average SOFR Rate + 1.20%
144A CUSIP: 83208DAB3
Reg S CUSIP: U8313DAB9

76,400,000 Class B Private Education Loan-Backed Notes 
Security Details:

Fixed Rate: 5.10%
144A CUSIP: 83208DAC1
Reg S CUSIP: U8313DAC7

76,400,000 Class C Private Education Loan-Backed Notes 
Security Details:

Fixed Rate: 4.78%
144A CUSIP: 83208DAD9
Reg S CUSIP: U8313DAD5

152,800,000 Class D Private Education Loan-Backed Notes 
Security Details:

Fixed Rate: 5.26%
144A CUSIP: 83208DAE7
Reg S CUSIP: U8313DAE3

Date of Issue: August 21, 2025

Issue Amount: $ 2,100,900,000

Servicer: 
Sallie Mae Bank

Indenture Trustee: 
UMB Bank, N.A.

Administrator: 
Sallie Mae Bank

Underwriter: 
Goldman Sachs & Co. LLC