SMB Private Education Loan Trust 2026-A

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

Fixed Rate: 4.68%
144A CUSIP: 78451MAA9
Reg S CUSIP: U8308WAA6

65,000,000 Class A-1B Private Education Loan-Backed Notes 
Security Details:

30-Day Average SOFR Rate + 1.10%
144A CUSIP: 78451MAB7
Reg S CUSIP: U8308WAB4

53,000,000 Class B Private Education Loan-Backed Notes
Security Details:

Fixed Rate: 5.48%
144A CUSIP: 78451MAC5
Reg S CUSIP: U8308WAC2

Date of Issue: March 11, 2026

Issue Amount: $ 618,000,000

Servicer:
Sallie Mae Bank

Indenture Trustee:

UMB Bank, N.A.

Administrator:
Sallie Mae Bank

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