UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of Earliest Event Reported):		March 11, 2020

Navient Student Loan Trust 2014-5
________________________________________

(Exact name of issuer as specified in its charter)

Navient Funding, LLC

(Exact name of Depositor as specified in its charter)

Navient Solutions, LLC

(Exact name of Sponsor as specified in its charter)


Delaware	333-190926 333-190926-07	04-3480392
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification Number)

	c/o Deutsche Bank Trust Company Delaware 60 Wall Street, 27th Floor Mailstop NYC 60 2720 New York, New York 10005
	_________________________________ (Address of principal executive offices)

Issuer’s telephone number, including area code:

703-810-3000

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01 Entry into a Material Definitive Agreement.

The transaction documents for the Navient Student Loan Trust 2014-5 (the “2014-5 Trust”) were amended on March 6, 2020 to provide for the potential replacement of LIBOR as the benchmark rate (the “Benchmark Replacement Amendments”). In connection with the Benchmark Replacement Amendments, the parties thereto executed and delivered Supplemental Indenture No. 2, dated as of March 6, 2020, among the 2014-5 Trust and Deutsche Bank National Trust Company, not in its individual capacity but solely as Indenture Trustee.

Item 5.07 Submission of Matters to a Vote of Security Holders.

100% of the holders of Class A Notes and Class B Notes of the 2014-5 Trust as of the record date of February 5, 2020 consented to the foregoing Supplemental Indenture 2, effective as of March 6, 2020.

Item 9.01 Financial Statements and Exhibits

	Exhibits
99.1	Supplemental Indenture No. 2, dated as of March 6, 2020, between the 2014-5 Trust and Deutsche Bank National Trust Company, not in its individual capacity but solely as Indenture Trustee.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the issuing entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			SLM STUDENT LOAN TRUST 2014-5

			By: Navient Funding, LLC


Dated: March 11, 2020			By: /s/ Mark D. Rein
			Name: Mark D. Rein
			Title: Vice President

INDEX TO EXHIBITS

Exhibit Number	Description
99.1	Supplemental Indenture No. 2, dated as of March 6, 2020, between the 2014-5 Trust and Deutsche Bank National Trust Company, not in its individual capacity but solely as Indenture Trustee.

NAVIENT FUNDING, LLC 8-K