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Warning TextXTableStyleMedium2PivotStyleLight1683ffff̙̙3f3fff3f3f33333f33333\`RPrivate Collection and Waterfall  ;;   ;   ;  ; 8ZR3 A@@  q2Issuer Deal NameDistribution DateWebsiteClassCollection Period CUSIP Beg Princ BalInterest AccrualPrincipal Paid End Princ BalOriginal Balance% of Securities (a) Footnotes (b) FootnotesPrincipal Balance Beg Balance End BalanceActivityAccrued InterestTotal Pool BalanceTotal Accounts BalanceWeighted Average Coupon (WAC)Number of LoansNumber of Borrowers Total AssetsSenior Parity %Total Parity % CurrentTotal Repayment Deferment # of Loans BeginningEnding % of BalanceTotal PortfolioTotalAssets Loans Receivable Liabilities Bonds PayableTotal LiabilitiesMaturityAverage Borrower Indebtedness" Accrued Interest on Investment% Accrued Interest Subsidy Payments Total Accounts/Funds Balance# Accrued Interest on Senior Bonds% Principal of Sub Bonds Outstanding, Accrued Interest on Sub Bonds Outstanding Proprietary$Monitoring Waterfall and CollectionsCollection PeriodCollection ActivityCollection AccountCollection Amount Received Recoveries"Excess of Required Reserve AccountPayments from Guarantor Sale ProceedsInvestment IncomeAll FeesTotal Available FundsWaterfall ActivityWaterfall for Distribution Amount DueAmount Remaining Contact EmailBal after Waterfall 30-59 Days Delinquent 60-89 Days Delinquent 150-179 Days Delinquent 120-149 Days Delinquent 180-209 Days Delinquent 210-239 Days Delinquent4 Year2 YearForeign Vocational&йTotal Fees and Program Expenses*Available Funds at Beginning of Period (a)Borrower PaymentsServicing FeesIndenture Trustee Fees Other FeesRemarketing FeesCredit Enhancement FeesArbitrage Analysis Fees www.vsac.org"Excess Earnings Rebate paid to IRS IRS Status % of Pool In School GraceRate(a) Allowance for Bad Debt Student Loan Fees Prepaid Expenses Deferred Bond Issuance Costs( Accrued Interest Receivable on Loans# Borrower Benefit Rebates Payable) Accrued Yield and Rebate - US Treasury Due to US Dept. of Ed) Accounts Payable and Other Liabilities Due To/From Operations PrincipalReduced Payment Claim Filed 240-269 Days Delinquent 270+ Days Delinquent 1-29 Days DelinquentIn Grace In School Repayment Forbearance Notes/BondsFunds and Accounts - Trust Balance Sheet and Parity - Trust.Total Repayment includes Reduced Payment loansinvestorrelations@vsac.org,Fees and Program Expenses for Current Period Repayment ForbearanceW.A. Time until (a)Current StatusConversion to RepaymentmonthsTotal Not ConvertedW.A. Time sinceTotal Converted=W.A. Time until Conversion to Repayment includes Grace period!Student Loans Receivable ActivityBeginning Balance Interest CapsConsolidation PaymentsClaim PaymentsBorrower Benefit RebatesSchool Refunds Write-offs Miscellaneous AdjustmentsEnding BalanceRefunds to Borrowers?Available Funds is sum of Revenue and Loan Acquisition Accounts(a) Footnotes:%Reserve Account - Beginning of PeriodReserve Account - End of PeriodCollection Fund0Remaining Amount Available for Release to Issuer Reserve FundReserve Fund Requirement+Weighted Average Maturity (WAM) (in months) 90-119 Days Delinquent'Student Loan Asset-Backed Notes, 2012-B2012-BExemptPortfolio Summary - Private(Weighted Average Payments Made - Private"Portfolio by Loan Status - PrivateDelinquency Status - Private Portfolio by Loan Type - Privateй Extra Advantageй Extra Lawй Extra Medicalй Extra Choiceй Extra ClassicPrivate Loans - Other (a)"Portfolio by School Type - PrivateOther / UnknownFirst: Tax-Exempt Rebate FundSecond: Trustee FeesThird: Servicing FeesFourth: Administration FeesFifth: Noteholders' InterestSixth: Reserve Fund RequirementSeventh: Noteholders' Principal ) Current Period Defaults and Write-offs% Cumulative Defaults and Write-offs@Cumulative Recoveries (including reimbursements and collections) Payments from Guarantor Borrower RecoveriesCumulative Net Loss!Cumulative Default Rate - Private 2012-B A-1 2012-B A-2 92428CHH0 92428CHJ6Semi-Annual Servicing ReportLoan Transfers May include Non-Guaranteed FFELPBalance Less than 650 650 - 699 700 - 749 750 - 799800 +No ScorePortfolio by FICO Credit ScoresLoan Acquisition FundAdministration FeesLast rate in period"Temporary Cost of Issuance AccountAcquisition Account( Cumulative Purchases and Originations Cumulative Default Rate (1)Recovery Rate (2)Cumulative Net Loss (3)g1) (Cumulative Defaults and Write-offs + Claims Filed Not Paid) / Cumulative Purchases and OriginationsW2) (Payments from Guarantor + Borrower Recoveries) / Cumulative Defaults and Write-offss3) (Cumulative Defaults and Write-offs + Claims Filed Not Paid) - (Payments from Guarantor + Borrower Recoveries) /* Cumulative Purchases and OriginationsU Loans for which claims have been filed but not yet paid as of Distribution Date$Other Amounts Received in Collection11/1/2013 - 4/30/2014Collectin PeriodParityAfter Waterfall]; ;tR<<m==>p?XQ@ AAe}B,CDD EA BF G G H I{JEKQLeHMM~OPcccB g2 (eTIa;q~S  dMbP?_*+%C x A>&L&"Arial,Bold"Vermont Student Assistance Corp.&RPage &P of &N&?'?(?)?MS o;XXLetter";XX??&U} V} V} V} m V}  V} V} V} IV} V} V} V} $V} V} mV} V} $ V;;      ; @   ; j j wx kO kkl jj st g ggh jj  ff st~ ih@ ggh jj  ff st g ggh  ff DCE kx @@A uv cY dde YY lt mnnnnnnnnnnoY " [YYYYYYYYYYYpY  q h h h[ L_ h h h h h iD h r* Y[ Y W WM&<Y?~ _*&_zKA_øu A_5_A cWA _{bA s>^.~?~  t @ Y[ Y u (NA?` ` `z]!A`d `  vCY?~  w=@ Y"\ZxXyffffgfz{Y \ L$ |}~~ e5 ezZAe=9l3-1Ae5_A eogA e{hrA~  '?  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