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{"sheet":"FFELP","index":0,"n_rows":170,"n_cols":13,"rows_kept":170,"cut":false,"hidden":false,"merged":[[8,3,8,6],[4,11,6,12],[6,3,6,6],[4,3,4,6],[5,3,5,6],[3,8,5,9],[3,3,3,6],[6,1,6,2],[8,1,8,2],[3,1,3,2],[4,1,4,2],[5,1,5,2],[95,4,95,5],[102,4,102,5],[89,4,89,5],[157,7,157,8],[143,7,143,8],[124,7,124,8],[109,7,109,8],[90,4,90,5],[94,4,94,5],[157,9,157,10],[109,9,109,10],[157,5,157,6],[124,5,124,6],[109,5,109,6],[143,9,143,10],[124,9,124,10],[143,5,143,6]]}
["Student Loan Asset-Backed Notes, 2012-1"]
["Monthly Servicing Report"]
[]
[null,"Issuer",null,"Vermont Student Assistance Corporation"]
[null,"Deal Name",null,"2012-1"]
[null,"Distribution Date",null,"2020-01-28"]
[null,"Collection Period ",null,"12/1/19 - 12/31/19"]
[null,"Contact Email",null,"investorrelations@vsac.org"]
[null,"Website",null,"www.vsac.org"]
[]
[]
["Notes/Bonds"]
[]
[null,"Class","CUSIP","IRS Status","Rate","Original Balance","Beg Princ Bal","Interest Accrual","Principal Paid (a)","End Princ Bal","Bal after Waterfall","% of Securities","Maturity"]
[null,"2012-1 A","924279AC6","Taxable",2.50475E-2,755000000,226033180.81,31077.19,2701724.5099999905,223331456.30000001,220083301.27390042,0.9351006762671572,"2034-07-28"]
[null,"2012-1 B","924279AD4","Taxable",4.80475E-2,15500000,15500000,4137.42,0,15500000,15500000,6.4899323732842809E-2,"2041-12-30"]
[]
[null,"Total",null,null,null,770500000,241533180.81,35214.61,2701724.5099999905,238831456.30000001,235583301.27390042,1.0000000000000002]
["(a) Footnotes"]
["(b) Footnotes"]
[]
["Funds and Accounts - Trust"]
[]
[null,null,null,null,null,"Beg Balance","Activity","End Balance"]
[null,"Debt Service Reserve Fund",null,null,null,1176783,0,1176783]
[null,"Reserve Fund Requirement",null,null,null,1176783,0,1176783]
[]
[null,"Department Reserve Fund",null,null,null,72628.81,83002.170000000013,155630.98000000001]
[null,"Collection Fund",null,null,null,3679127.13,514191.93000000017,4193319.06]
[null,"Acquisition Fund",null,null,null,0,0,0]
[null,"Temp COI Fund",null,null,null,0,0,0]
[]
[null,"Total Accounts Balance",null,null,null,4928538.9399999995,597194.10000000056,5525733.04]
[]
["(a) Footnotes"]
["(b) Footnotes"]
[]
["Balance Sheet and Parity - Trust",null,null,null,null,null,null,null,null,null,"Student Loans Receivable Activity"]
[null,null,null,null,null,"Collection Period",null,"Collection Period","Parity"]
[null,null,null,null,null,"Beg Balance","Activity","End Balance","After Waterfall"]
[null,"Assets",null,null,null,null,null,null,null,null,"Beginning Balance",null,254593758.99000001]
[null,"    Loans Receivable",null,null,null,254593758.99000001,-3355517.650000006,251238241.34,251238241.34,null,"Interest Caps",null,226913.95]
[null,"    Allowance for Bad Debt",null,null,null,-475226.41,0,-475226.41,-475226.41,null,"Borrower Payments",null,-2786278.55]
[null,"    Accrued Interest Receivable on Loans",null,null,null,7380816.8700000001,-15060.969999999739,7365755.9000000004,7365755.9000000004,null,"Claim Payments",null,-265682.8]
[null,"    Accrued Interest on Investment",null,null,null,0,0,0,0,null,"Consolidation Payments",null,-533206.27]
[null,"    Accrued Interest Subsidy Payments",null,null,null,-155630.97999999998,-75038.91,-230669.88999999998,-230669.88999999998,null,"Loan Transfers",null,0]
[null,"    Student Loan Fees",null,null,null,0,0,0,0,null,"Refunds to Borrowers",null,7902.21]
[null,"    Total Accounts/Funds Balance",null,null,null,4928538.9399999995,597194.10000000056,5525733.04,1332413.98,null,"Borrower Benefit Rebates",null,0]
[null,"    Deferred Bond Issuance Costs",null,null,null,0,0,0,0,null,"School Refunds",null,0]
[null,"    Prepaid Expenses",null,null,null,0,0,0,0,null,"Write-offs ",null,-5166.1899999999996]
[null,"Total Assets",null,null,null,266272257.41000003,-2848423.4300000072,263423833.98000002,259230514.92000002,null,"Miscellaneous Adjustments",null,0]
[null,null,null,null,null,null,null,null,null,null,"Ending Balance",null,251238241.33999997]
[null,"Liabilities"]
[null,"   Bonds Payable",null,null,null,226033180.81,-2701724.5099999905,223331456.30000001,220083301.27390042]
[null,"   Accrued Interest on Senior Bonds",null,null,null,60316.45,-29239.26,31077.19,0]
[null,"   Principal of Sub Bonds Outstanding",null,null,null,15500000,0,15500000,15500000]
[null,"   Accrued Interest on Sub Bonds Outstanding",null,null,null,8097.25,-3959.83,4137.42,0]
[null,"   Borrower Benefit Rebates Payable",null,null,null,241453.49,43275.030000000028,284728.52,284728.52]
[null,"   Accrued Yield and Rebate - US Treasury",null,null,null,0,0,0,0]
[null,"   Due to US Dept. of Ed",null,null,null,0,0,0,0]
[null,"   Accounts Payable and Other Liabilities",null,null,null,0,0,0,0]
[null,"   Due To/From Operations",null,null,null,253945.69,-257873.07,-3927.38,-3927.38]
[null,"Total Liabilities",null,null,null,242096993.69,-2949521.6399999857,239147472.05000001,235864102.41390043]
[]
[null,"Senior Parity %",null,null,null,1.1798105078327366,null,1.1814831084991022,1.1800338318570942]
[null,"Total Parity %",null,null,null,1.1040799807675079,null,1.1047964933099925,1.1023945242538804]
["(a) Footnotes"]
["(b) Footnotes"]
[]
["Portfolio Summary - FFELP"]
[]
[null,null,null,null,null,"Beg Balance","Activity","End Balance"]
[null,"Principal Balance",null,null,null,254593758.99000001,-3355517.650000006,251238241.34]
[null,"Accrued Interest",null,null,null,7380816.8700000001,-15060.970000000671,7365755.8999999994]
[]
[null,"Total Pool Balance",null,null,null,261974575.86000001,-3370578.6200000048,258603997.24000001]
[]
[null,"Weighted Average Coupon (WAC)",null,null,null,5.1986333736348242E-2,null,5.1984551842613191E-2]
[null,"Weighted Average Maturity (WAM) (in months)",null,null,null,153.94451615520836,null,153.36136682080004]
[null,"Number of Loans",null,null,null,30808,-522,30286]
[null,"Number of Borrowers",null,null,null,15149,-267,14882]
[null,"Average Borrower Indebtedness",null,null,null,17293.19267674434,83.77259942821911,17376.965276172559]
[]
[]
["(a) Footnotes"]
["(b) Footnotes"]
[]
[null,"Weighted Average Payments Made - FFELP",null,null,null,null,null,"Cumulative Default Rate - FFELP"]
[]
[null,null,null,null,"W.A. Time until (a)",null,null,null,null,null,null,"2020-12-31"]
[null,"Current Status","Principal","% of Pool","Conversion to Repayment"]
[null,"    In School",66774.66,2.6578222982238616E-4,-14.396690301380792,"months",null,"   Current Period Defaults and Write-offs",null,null,null,280874.23]
[null,"    Grace",11500,4.5773286497564208E-5,-3.2173913043478262,"months",null,"   Cumulative Defaults and Write-offs",null,null,null,104181615.24999999]
[null,"Total Not Converted",78274.66,3.1155551631995037E-4,null,null,null,"      Loans for which claims have been filed but not yet paid as of Distribution Date",null,null,null,653641.71]
[null,null,null,null,"W.A. Time since",null,null,"   Cumulative Purchases and Originations",null,null,null,778276141.70999992]
[null,"Current Status","Principal","% of Pool","Conversion to Repayment",null,null,"Cumulative Default Rate (1)",null,null,null,0.13470187680385495]
[null,"Repayment",234937970.40000001,0.93512026332830089,167.43493881099948,"months",null,"Cumulative Recoveries (including reimbursements and collections)"]
[null,"Reduced Payment",0,0,0,"months",null,"   Payments from Guarantor",null,null,null,102119012.09999999]
[null,"Forbearance",5511393.9699999997,2.1936923059978939E-2,153.07345626210059,"months",null,"   Borrower Recoveries",null,null,null,7280.8999999999987]
[null,"Deferment",10056960.6,4.0029577290305672E-2,157.39824732633434,"months",null,"Recovery Rate (2)",null,null,null,0.9802717375319252]
[null,"Claim Filed",653641.71,2.6016808050945894E-3,188.470995386754,"months",null,"Cumulative Net Loss",null,null,null,2708963.9599999785]
[null,"Total Converted",251159966.68000001,0.99968844448368011,null,null,null,"Cumulative Net Loss (3)",null,null,null,3.4807233767283961E-3]
[null,"Total Portfolio",251238241.34,1,null,null,null,"1) (Cumulative Defaults and Write-offs + Claims Filed Not Paid) / Cumulative Purchases and Originations"]
[null,null,null,null,null,null,null,"2) (Payments from Guarantor + Borrower Recoveries) / Cumulative Defaults and Write-offs"]
[null,"(a) Footnotes","W.A. Time until Conversion to Repayment includes Grace period",null,null,null,null,"3) (Cumulative Defaults and Write-offs + Claims Filed Not Paid) - (Payments from Guarantor + Borrower Recoveries) /"]
[null,null,null,null,null,null,null,"     Cumulative Purchases and Originations"]
[]
["Portfolio by Loan Status - FFELP"]
[]
[null,null,null,null,null,"# of Loans",null,"Principal Balance",null,"% of Balance"]
[null,null,null,null,null,"Beginning","Ending","Beginning","Ending","Beginning","Ending"]
[null,"In School ",null,null,null,18,18,66774.66,66774.66,2.6227924936142211E-4,2.6578222982238616E-4]
[null,"Repayment ",null,null,null,28500,28115,237040231.63999999,234937970.40000001,0.93105279791760542,0.93512026332830089]
[null,"Reduced Payment",null,null,null,0,0,0,0,0,0]
[null,"In Grace",null,null,null,7,5,17275,11500,6.7853195100035956E-5,4.5773286497564208E-5]
[null,"Forbearance ",null,null,null,602,531,6686500.4800000004,5511393.9699999997,2.6263410802079539E-2,2.1936923059978939E-2]
[null,"Deferment",null,null,null,1636,1560,10494222.66,10056960.6,4.1219481190865312E-2,4.0029577290305672E-2]
[null,"Claim Filed",null,null,null,45,57,288754.55,653641.71,1.1341776449883118E-3,2.6016808050945894E-3]
[null,"Total Portfolio",null,null,null,30808,30286,254593758.98999998,251238241.34,1,1]
["(a) Footnotes"]
["(b) Footnotes"]
[]
["Delinquency Status - FFELP"]
[]
[null,null,null,null,null,"# of Loans",null,"Principal Balance",null,"% of Balance"]
[null,null,null,null,null,"Beginning","Ending","Beginning","Ending","Beginning","Ending"]
[null,"    Current",null,null,null,24273,24776,193655620.55000001,202248065.58000001,0.81697363865265926,0.86085729452611282]
[null,"    1-29 Days Delinquent",null,null,null,2837,1420,29961363.670000002,15306112.189999999,0.12639779949043928,6.5149588906127695E-2]
[null,"    30-59 Days Delinquent",null,null,null,343,798,3514131.98,7003375.6500000004,1.4825044490072114E-2,2.9809466890669961E-2]
[null,"    60-89 Days Delinquent",null,null,null,324,370,2884331.52,2597261.65,1.2168109607572943E-2,1.1055095289952329E-2]
[null,"    90-119 Days Delinquent",null,null,null,195,199,1936811.22,1899271.96,8.1708122144492842E-3,8.0841421961990335E-3]
[null,"    120-149 Days Delinquent",null,null,null,151,154,1787676.28,1760031.51,7.541657665585632E-3,7.491473204622524E-3]
[null,"    150-179 Days Delinquent",null,null,null,107,129,757411.35,1667623.35,3.195286069203235E-3,7.0981431701344086E-3]
[null,"    180-209 Days Delinquent",null,null,null,122,98,1420929.71,809314.98,5.9944664252522661E-3,3.4448028074052003E-3]
[null,"    210-239 Days Delinquent",null,null,null,57,97,611402.79,1087540.96,2.5793207582101739E-3,4.6290557381949687E-3]
[null,"    240-269 Days Delinquent",null,null,null,63,46,363883.34,409737.74,1.5351121515635388E-3,1.7440251965333226E-3]
[null,"    270+ Days Delinquent",null,null,null,28,28,146669.23000000001,149634.82999999999,6.1875247499230805E-4,6.3691207404760984E-4]
[null,"Total Repayment",null,null,null,28500,28115,237040231.64000002,234937970.40000004,1.0000000000000002,0.99999999999999978]
["(a) Footnotes",null,"Total Repayment includes Reduced Payment loans"]
["(b) Footnotes"]
[]
["Portfolio by Loan Type - FFELP"]
[]
[null,null,null,null,null,"# of Loans",null,"Principal Balance",null,"% of Balance"]
[null,null,null,null,null,"Beginning","Ending","Beginning","Ending","Beginning","Ending"]
[null,"Unsubsidized Stafford Loans",null,null,null,8452,8273,29764237.699999999,29322381.489999998,0.11690874834511984,0.11671145815066467]
[null,"Subsidized Stafford Loans",null,null,null,5160,5030,10876179.23,10693351.460000001,4.2719740158387774E-2,4.2562594782411006E-2]
[null,"Grad / PLUS Loans",null,null,null,1089,1073,11474556.810000001,11374230.15,4.5070063207836533E-2,4.5272686551755023E-2]
[null,"HEAL Loans",null,null,null,90,86,209620.86,194492.69,8.2335427557842671E-4,7.7413648878712539E-4]
[null,"Consolidation Loans",null,null,null,16017,15824,202269164.38999999,199653785.55000001,0.79447809401307745,0.79467912402638219]
[null,"Non-Guaranteed FFELP",null,null,null,0,0,0,0,0,0]
[null,"Total Portfolio",null,null,null,30808,30286,254593758.98999998,251238241.34,1,1]
["(a) Footnotes"]
["(b) Footnotes"]
[]
["Portfolio by School Type - FFELP"]
[]
[null,null,null,null,null,"# of Loans",null,"Principal Balance",null,"% of Balance"]
[null,null,null,null,null,"Beginning","Ending","Beginning","Ending","Beginning","Ending"]
[null,"2 Year",null,null,null,1975,1948,5204373.0599999996,5160365.41,2.0441872104981246E-2,2.0539729073395685E-2]
[null,"4 Year",null,null,null,24285,23870,194621464,191987662.24000001,0.76443925716044114,0.76416576240948775]
[null,"Foreign",null,null,null,262,258,4033374.45,4021748.09,1.5842393254260501E-2,1.6007706743008835E-2]
[null,"Private-nonprofit Non-Degree Program",null,null,null,24,24,111698.28,110761.23,4.3873141448210953E-4,4.4086134900979157E-4]
[null,"Private-nonprofit Professional Degree",null,null,null,25,25,372872.28,369809.9,1.4645774565693332E-3,1.4719490871596148E-3]
[null,"Proprietary",null,null,null,786,772,5480411.3200000003,5462505.8300000001,2.1526102374784691E-2,2.1742334291409107E-2]
[null,"Public Non-Degree Program",null,null,null,12,11,36357.93,36135.75,1.428076247596787E-4,1.4383061196124831E-4]
[null,"Other / Unknown (a)",null,null,null,3439,3378,44733207.670000002,44089252.890000001,0.17570425860972122,0.17548782643456787]
[null,"Total Portfolio",null,null,null,30808,30286,254593758.99000001,251238241.34000003,1,1]
["(a) Footnotes",null,"Includes Consolidation loans for which no School Code is maintained"]
["(b) Footnotes",null,"Effective April 30,  2017 School Types are reported according to the Dept. of Education Postsecondary Education Participants System (PEPS) database"]

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["Student Loan Asset-Backed Notes, 2012-1"]
["Monitoring Waterfall and Collections"]
[]
[null,"Distribution Date",null,null,"2020-01-28"]
[null,"Collection Period",null,null,"12/1/19 - 12/31/19"]
[]
["Collection Activity"]
[]
[]
["Collection Account",null,null,null,null,null,null,"2020-12-31",null,"Fees and Program Expenses for Current Collection Period",null,null,null,"2020-12-31"]
[]
[null,null,"Available Funds at Beginning of Period",null,null,null,null,0,null,"Indenture Trustee Fees",null,null,null,1194.1572815000002]
[null,"Collection Amount Received",null,null,null,null,null,3908032.2,null,"Remarketing Fees",null,null,null,0]
[null,"Recoveries",null,null,null,null,null,116.46,null,"Credit Enhancement Fees",null,null,null,0]
[null,"Reserve Account - Beginning of Period",null,null,null,null,null,1176783,null,"Arbitrage Analysis Fees",null,null,null,0]
[null,null,"Excess of Required Reserve Account",null,null,null,null,0,null,"Servicing Fees",null,null,null,157531.34959375]
[null,"Reserve Account - End of Period",null,null,null,null,null,1176783,null,"Administration Fees",null,null,null,22337.513279166666]
[null,null,null,null,null,null,null,null,null,"Other Fees",null,null,null,0]
[null,"Payments from Guarantor",null,null,null,null,null,275577.67]
[null,"Sale Proceeds",null,null,null,null,null,0,null,null,"Total Fees and Program Expenses",null,null,181063.02015441665]
[null,"Investment Income",null,null,null,null,null,9592.73]
[null,"All Fees",null,null,null,null,null,0]
[null,"Other Amounts Received in Collection "]
[null,null,"FIB/SAP Received from Dept. of Ed",null,null,null,null,0]
[null,"Consolidation Rebate Fee paid to Dept. of Ed",null,null,null,null,null,0]
[null,"Excess Interest returned to Dept. of Ed",null,null,null,null,null,0]
[null,"Excess Earnings Rebate paid to IRS",null,null,null,null,null,0]
[]
[]
[]
[null,null,"Total Available Funds",null,null,null,null,4193319.06]
[]
["(a) Footnotes:"]
["(b) Footnotes"]
[]
["Waterfall Activity"]
[]
[]
["Waterfall for Distribution",null,null,null,null,null,null,null,null,null,null,"Amount Due",null,"Amount Remaining"]
[]
[null,"Total Available Funds",null,null,null,null,null,null,null,null,null,null,null,4193319.06]
[]
[null,"First: Department of Education, Guaranty Agency, and Rebate Fees to the DOE Reserve Fund",null,null,null,null,null,null,null,null,null,253489.08,null,3939829.98]
[]
[null,"Second: Trustee Fees",null,null,null,null,null,null,null,null,null,1194.1572815000002,null,3938635.8227185002]
[]
[null,"Third: Servicing Fees",null,null,null,null,null,null,null,null,null,157531.34959375,null,3781104.47312475]
[]
[null,"Fourth: Administration Fees",null,null,null,null,null,null,null,null,null,22337.513279166666,null,3758766.9598455834]
[]
[null,"Fifth: Noteholders' Interest",null,null,null,null,null,null,null,null,null,510611.93374598125,null,3248155.0260996022]
[]
[null,"Sixth: Reserve Fund Requirement",null,null,null,null,null,null,null,null,null,0,null,3248155.0260996022]
[]
[null,"Seventh: Noteholders' Principal",null,null,null,null,null,null,null,null,null,3248155.0260995999,null,0]
[]
[null,"Eighth: Class B Carry Over Amount",null,null,null,null,null,null,null,null,null,0,null,0]
[]
[null,"Remaining Amount Available for Release to Issuer",null,null,null,null,null,null,null,null,null,0,null,0]
["(a) Footnotes"]
["(b) Footnotes"]

{"sheet":"Balance Sheet","index":2,"n_rows":52,"n_cols":5,"rows_kept":52,"cut":false,"hidden":false,"merged":[]}
[null,null,null,"Vermont Student Assistance Corporation"]
[]
[null,null,null,"2012-1 Indenture"]
[]
[null,null,null,"Balance Sheet"]
[]
[]
[]
[]
[]
[null,null,null,"2012 - 1","2012 - 1"]
[null,null,null,"2019-11-30","2019-12-31"]
[]
["Assets"]
["     Cash and Equivalents"]
[null,"          Revenue",null,3679127.13,4193319.06]
[null,"          Loan Acquisition",null,0,0]
[null,"          Debt Service Reserve",null,1176783,1176783]
[null,"          Cap Int",null,0,0]
[null,"          DOE Reserve Fund",null,72628.81,155630.98000000001]
[null,"     Total Cash and Equivalents",null,4928538.9400000004,5525733.04]
["     Receivables"]
[null,"          Investment Interest",null,0,0]
[null,"          Student Loans",null,254593758.99000001,251238241.34]
[null,"          Allowance for Bad Debt",null,-475226.41,-475226.41]
[null,"          Contra SLR - Alt Fees",null,0,0]
[null,"          Deferred Subsidized Fees",null,0,0]
[null,"          Student Loan Interest",null,7380816.8700000001,7365755.9000000004]
[null,"          FIB",null,142032.81,172086.73]
[null,"          SAP",null,-297663.78999999998,-402756.62]
[null,"     Total Receivables",null,261343718.47,257898100.94]
[]
[null,"Total Assets",null,266272257.41,263423833.97999999]
["Liabilities and Net Assets"]
["     Liabilities"]
[null,"          Senior Bonds Payable",null,226033180.81,223331456.30000001]
[null,"          Bond Premium/Discount",null,0,0]
[null,"          Sub Bond Payable",null,15500000,15500000]
[null,"          Bond Interest Payable",null,60316.45,31077.19]
[null,"          Sub Bond Interest Payable",null,8097.25,4137.42]
[null,"          Deferred Gain on Discounted Bond Refunding",null,15156026.98,14974870.35]
[null,"          VT Value Rebates Payable",null,241453.49,284728.52]
[null,"          Accrued Yield - US Treasury",null,0,0]
[null,"          Accrued Rebates - US Treasury",null,0,0]
[null,"          Due To US Department of Education",null,0,0]
[null,"          Due To/From Other Funds",null,253945.69,-3927.38]
[null,"     Total Liabilities",null,257253020.66999999,254122342.40000001]
[]
["     Net Assets"]
[null,"          Restricted by Bond Resolution",null,9019236.7400000002,9301491.5800000001]
[null,"     Total Net Assets",null,9019236.7400000002,9301491.5800000001]
[null,"Total Liabilities and Net Assets",null,266272257.41,263423833.97999999]