SMB Private Education Loan Trust 2026-B

1,097,000,000 Class A-1A Private Education Loan-Backed Notes 
Security Details:

Fixed Rate: 5.03%
144A CUSIP: 78451PAA2
Reg S CUSIP: U8308XAA4

174,100,000 Class A-1B Private Education Loan-Backed Notes 
Security Details:

30-Day Average SOFR Rate + 1.25%
144A CUSIP: 78451PAB0
Reg S CUSIP: U8308XAB2

141,200,000 Class B Private Education Loan-Backed Notes
Security Details:

Fixed Rate: 5.36%
144A CUSIP: 78451PAC8
Reg S CUSIP: U8308XAC0

44,500,000 Class C Private Education Loan-Backed Notes
Security Details:

Fixed Rate: 5.46%
144A CUSIP: 78451PAD6
Reg S CUSIP: U8308XAD8

128,500,000 Class D Private Education Loan-Backed Notes
Security Details:

Fixed Rate: 7.00%
144A CUSIP: 78451PAE4
Reg S CUSIP: U8308XAE6

Date of Issue: April 2, 2026

Issue Amount: $ 1,585,300,000

Servicer:
Sallie Mae Bank

Indenture Trustee:
UMB Bank, N.A.

Administrator:
Sallie Mae Bank

Underwriter:
J.P. Morgan