










		SLM Private Credit Student Loan Trust 2003-B Quarterly Servicing Report
		Distribution Date		03/16/2015
		Collection Period		12/01/2014 - 02/28/2015

		Navient Funding, LLC -		Depositor
		Navient Solutions -		Servicer and Administrator
		Bank of New York -		Indenture Trustee
		The Bank of New York Mellon Trust Company, N.A. -		Trustee
		Navient Investment Corp. -		Excess Distribution Certificateholder


Page 1 of 20


I. Deal Parameters


A	Student Loan Portfolio Characteristics			06/27/2003		11/30/2014		02/28/2015
	Principal Balance		$	1,213,584,181.19	$	423,972,532.64	$	409,190,029.90
	Interest to be Capitalized Balance			33,696,136.79		834,798.16		739,268.57
	Pool Balance		$	1,247,280,317.98	$	424,807,330.80	$	409,929,298.47
	Cash Capitalization Account Balance			102,590,156.00		0.00		0.00
	Asset Balance		$	1,349,870,473.98	$	424,807,330.80	$	409,929,298.47
	Weighted Average Coupon (WAC)			5.05%		3.94%		3.94%
	Weighted Average Remaining Term			189.07		136.27		136.16
	Number of Loans			143,265		58,750		57,409
	Number of Borrowers			103,358		43,881		42,903
	Pool Factor					0.340586895		0.328658516
	Since Issued Constant Prepayment Rate					1.52%		1.39%

B	Debt Securities	Cusip/Isin		12/15/2014 *				03/16/2015
	A2	78443CAM6	$	143,086,231.18			$	130,439,903.70
	A3	78443CAN4	$	109,000,000.00			$	109,000,000.00
	A4	78443CAP9	$	109,000,000.00			$	109,000,000.00
	B	78443CAQ7	$	25,157,349.29			$	22,920,032.39
	C	78443CAR5	$	57,545,976.61			$	57,545,976.61




C	Auction Rate Security Principal Allocated But Not Distributed							03/16/2015
	A3	78443CAN4					$	0.00
	A4	78443CAP9					$	0.00




D	Account Balances			12/15/2014				03/16/2015
	Reserve Account Balance		$	3,118,201.00			$	3,118,201.00
	Cash Capitalization Account Balance		$	-			$	-
	Future Distribution Account		$	1,068,948.25			$	764,344.71



E	Asset / Liability			12/15/2014				03/16/2015
	Parity Ratio			96.43%				96.30%
	Initial Asset Balance		$	1,349,870,473.98			$	1,349,870,473.98
	Specified Overcollateralization Amount		$	26,997,409.48			$	26,997,409.48
	Actual Overcollateralization Amount		$	0.00			$	0.00
	‘* The prior period note balances are net of payments that were allocated on the previous distribution date and paid during the distribution period.


Page 2 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015


II. 2003-B Trust Activity through 02/28/2015

A	Student Loan Principal Receipts
	Borrower Principal		13,186,255.02
	Consolidation Activity Principal		0.00
	Seller Principal Reimbursement		5,221.05
	Servicer Principal Reimbursement		4,306.21
	Delinquent Principal Purchases by Servicer		0.00
	Other Principal Deposits		0.00

	Total Principal Receipts	$	13,195,782.28

B	Student Loan Interest Receipts
	Borrower Interest		3,734,476.79
	Consolidation Activity Interest		0.00
	Seller Interest Reimbursement		843.59
	Servicer Interest Reimbursement		0.84
	Delinquent Interest Purchases by Servicer		0.00
	Other Interest Deposits		0.00

	Total Interest Receipts	$	3,735,321.22

C	Recoveries on Realized Losses	$	1,018,391.98

D	Investment Income	$	1,030.93

E	Funds Borrowed from Next Collection Period	$	0.00

F	Funds Repaid from Prior Collection Period	$	0.00

G	Amount Released from Cash Capitalization Account	$	0.00

H	Interest Rate Cap Proceeds	$	0.00

I	Loan Sale or Purchase Proceeds	$	0.00

J	Initial Deposits to Collection Account	$	0.00

K	Excess Transferred from Other Accounts	$	0.00

L	Borrower Benefit Reimbursements	$	198,509.81

M	Gross Swap Receipt	$	244,054.90

N	Other Deposits	$	-

O	Other Fees Collected	$	0.00

P	Less: Funds Previously Remitted From the Future Distribution Account	$	(1,873,882.76)

Q	AVAILABLE FUNDS	$	16,519,208.36

R	Non-Cash Principal Activity During Collection Period	$	(1,586,720.46)

S	Aggregate Purchased Amounts by the Depositor, Servicer or Seller	$	0.00

T	Aggregate Loan Substitutions	$	0.00


Page 3 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015


III. 2003-B Portfolio Characteristics

	02/28/2015										11/30/2014
	Wtd Avg Coupon			# Loans		Principal		% of Principal			Wtd Avg Coupon			# Loans		Principal		% of Principal
INTERIM: IN SCHOOL		4.22	%		71	$	614,317.37		0.150	%		4.24	%		74	$	648,705.65		0.153	%
GRACE		3.94	%		27	$	278,190.17		0.068	%		4.07	%		43	$	531,507.25		0.125	%
DEFERMENT		4.15	%		2,093	$	19,013,724.54		4.647	%		4.14	%		2,285	$	20,788,539.73		4.903	%
REPAYMENT: CURRENT		3.91	%		52,701	$	364,163,103.22		88.996	%		3.91	%		53,648	$	374,659,000.70		88.369	%
31-60 DAYS DELINQUENT		4.08	%		769	$	7,568,337.56		1.850	%		4.20	%		940	$	9,163,547.11		2.161	%
61-90 DAYS DELINQUENT		4.26	%		361	$	3,612,040.07		0.883	%		4.29	%		432	$	4,454,523.16		1.051	%
91-120 DAYS DELINQUENT		4.57	%		328	$	2,991,408.80		0.731	%		4.37	%		333	$	3,294,121.05		0.777	%
121-150 DAYS DELINQUENT		4.45	%		253	$	2,485,226.83		0.607	%		4.49	%		218	$	2,323,873.19		0.548	%
151-180 DAYS DELINQUENT		4.53	%		199	$	2,030,514.40		0.496	%		4.17	%		190	$	1,850,255.15		0.436	%
> 180 DAYS DELINQUENT		4.23	%		159	$	1,728,739.17		0.422	%		4.17	%		199	$	2,128,950.99		0.502	%
FORBEARANCE		3.95	%		448	$	4,704,427.77		1.150	%		3.90	%		388	$	4,129,508.66		0.974	%

TOTAL					57,409	$	409,190,029.90		100.00	%					58,750	$	423,972,532.64		100.00	%

* Percentages may not total 100% due to rounding


Page 4 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015


III. 2003-B Portfolio Characteristics (cont’d)
	2/28/2015			11/30/2014
Pool Balance	$	409,929,298.47		$	424,807,330.80
Total # Loans		57,409			58,750
Total # Borrowers		42,903			43,881
Weighted Average Coupon		3.94	%		3.94	%
Weighted Average Remaining Term		136.16			136.27
Percent of Pool - Cosigned		58	%		57	%
Percent of Pool - Non Cosigned		42	%		43	%
Borrower Interest Accrued for Period	$	3,989,985.72		$	4,180,035.77
Outstanding Borrower Interest Accrued	$	2,137,005.53		$	2,371,252.60
Gross Principal Realized Loss - Periodic	$	2,002,843.43		$	1,878,698.72
Gross Principal Realized Loss - Cumulative	$	116,980,889.58		$	114,978,046.15
Delinquent Principal Purchased by Servicer - Periodic	$	0.00		$	0.00
Delinquent Principal Purchased by Servicer - Cumulative	$	78,360,768.52		$	78,360,768.52
Recoveries on Realized Losses - Periodic	$	1,018,391.98		$	991,574.45
Recoveries on Realized Losses - Cumulative	$	16,961,767.65		$	15,943,375.67
Net Losses - Periodic	$	984,451.45		$	887,124.27
Net Losses - Cumulative	$	100,019,121.93		$	99,034,670.48
Cumulative Gross Defaults	$	195,341,658.10		$	193,338,814.67
Change in Gross Defaults	$	2,002,843.43		$	1,878,698.72
Non-Cash Principal Activity - Capitalized Interest	$	420,002.94		$	367,057.69
Since Issued Constant Prepayment Rate (CPR)		1.39	%		1.52	%
Loan Substitutions	$	0.00		$	0.00
Cumulative Loan Substitutions	$	0.00		$	0.00
Unpaid Primary Servicing Fees	$	0.00		$	0.00
Unpaid Administration Fees	$	0.00		$	0.00
Unpaid Carryover Servicing Fees	$	0.00		$	0.00
Note Interest Shortfall	$	0.00		$	0.00
Unpaid Auction Rate Noteholder’s Interest Carryover	$	2,745,866.97		$	2,609,578.16


Page 5 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015


IV. 2003-B Portfolio Statistics by Loan Program

	Weighted Average Coupon		# LOANS		$ AMOUNT		% *
- Undergraduate and Graduate Loans		3.94%		50,573	$	379,316,332.95		92.699%
- Career Training		0.00%		0.00	$	0.00		0.000%
- Law Loans		4.15%		4,208	$	17,125,223.17		4.185%
- Med Loans		3.45%		1,520	$	6,093,121.96		1.489%
- MBA Loans		3.76%		1,108	$	6,655,351.82		1.626%
- Direct to Consumer		0.00%		0.00	$	0.00		0.000%
- Private Credit Consolidation		0.00%		0.00	$	0.00		0.000%
- Other Loans		0.00%		0.00	$	0.00		0.000%

Total		3.94%		57,409	$	409,190,029.90		100.000%

Prime Indexed Loans – Monthly Reset Adjustable					$	0.00
Prime Indexed Loans – Monthly Reset Non-Adjustable					$	20,776.95
Prime Indexed Loans – Quarterly Reset Adjustable					$	0.00
Prime Indexed Loans – Quarterly Reset Non-Adjustable					$	388,082,528.09
Prime Indexed Loans – Annual Reset					$	0.00
T-Bill Indexed Loans					$	21,589,795.29
Fixed Rate Loans					$	236,198.14
Other Index					$	0.00

* Note: Percentages may not total 100% due to rounding


Page 6 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015


V. 2003-B Future Distribution Account Activity

A.	Account Reconciliation

	i	Beginning Balance	12/15/2014	$	1,068,948.25

	ii	Total Allocations for Distribution Period		$	1,686,035.71

	iii	Total Payments for Distribution Period		$	(1,873,882.76	)

	iv	Funds Released to the Collection Account		$	(881,101.20	)


	v	Total Balance Prior to Current Month Allocations		$	0.00


	vi	Ending Balance	03/16/2015	$	764,344.71

B.	Monthly Allocations to the Future Distribution Account

	Monthly Allocation Date		12/15/2014

	i	Primary Servicing Fees		$	247,317.31

	ii	Administration Fees		$	6,666.67

	iii	Broker Dealer, Auction Agent Fees		$	10,981.76

	iv	Interest Accrued on the Class A Notes and Swap		$	803,982.51

	v	Interest Accrued on the Class B & C Notes		$	0.00


	vi	Total Allocations		$	1,068,948.25

	Monthly Allocation Date		01/15/2015

	i	Primary Servicing Fees		$	244,413.49

	ii	Administration Fees		$	6,666.67

	iii	Broker Dealer, Auction Agent Fees		$	21,681.91

	iv	Interest Accrued on the Class A Notes and Swap		$	685,762.29

	v	Interest Accrued on the Class B & C Notes		$	0.00


	vi	Total Allocations	01/15/2015	$	958,524.36

	Monthly Allocation Date		2/17/2015

	i	Primary Servicing Fees		$	241,445.30

	ii	Administration Fees		$	6,666.67

	iii	Broker Dealer, Auction Agent Fees		$	25,914.76

	iv	Interest Accrued on the Class A Notes and Swap		$	453,484.62

	v	Interest Accrued on the Class B & C Notes		$	0.00


	vi	Total Allocations	2/17/2015	$	727,511.35


C.	Total Future Distribution Account Deposits Previously Allocated			$	2,754,983.96


Page 7 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015


V. 2003-B Future Distribution Account Activity (cont’d)

D.	Current Allocations to the Future Distribution Account

	Monthly Allocation Date		03/16/2015

	i	Primary Servicing Fees		$	238,694.18

	ii	Administration Fees		$	6,666.67

	iii	Broker Dealer, Auction Agent Fees		$	28,794.16

	iv	Interest Accrued on the Class A Notes and Swap		$	490,189.70

	v	Interest Accrued on the Class B & C Notes		$	0.00


	vi	Total Allocations	03/16/2015	$	764,344.71


Page 8 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015


VI. 2003-B Auction Rate Security Detail

A Auction Rate Securities - Payments During Distribution Period
i	Payment Date	Security Description	Interest Rate			No Of Days	Start Date		End Date		Principal Payment		Interest Payment		Broker/Dealer Fees		Auction Agent Fees

	12/22/2014	SLMPC 2003-B A-3		3.13000	%	28		11/24/2014		12/22/2014		0.00		265,354.44		4,238.89		720.61

	12/26/2014	SLMPC 2003-B A-4		3.13000	%	28		11/28/2014		12/26/2014		0.00		265,354.44		4,238.89		720.61

	01/20/2015	SLMPC 2003-B A-3		3.14000	%	29		12/22/2014		01/20/2015		0.00		275,709.44		4,390.28		746.35

	01/22/2015	SLMPC 2003-B A-4		1.65000	%	27		12/26/2014		01/22/2015		0.00		134,887.50		12,262.50		694.88

	02/17/2015	SLMPC 2003-B A-3		1.60000	%	28		01/20/2015		02/17/2015		0.00		135,644.44		12,716.67		720.61

	02/19/2015	SLMPC 2003-B A-4		1.60000	%	28		01/22/2015		02/19/2015		0.00		135,644.44		12,716.67		720.61

	* The record date for an auction rate security is two New York business days prior to the payment date.

ii	Auction Rate Note Interest Paid During Distribution Period							12/15/2014		03/16/2015			$	1,212,594.70

iii	Broker/Dealer Fees Paid During Distribution Period							12/15/2014		03/16/2015			$	50,563.90

iv	Auction Agent Fees Paid During Distribution Period							12/15/2014		03/16/2015			$	4,323.67

v	Primary Servicing Fees Remitted to the Servicer												$	606,400.49


vi	Total Payments Out of Future Distribution Account During Distribution Period												$	1,873,882.76

B	Funds Released to Collection Account												$	881,101.20

C	Auction Rate Student Loan Rates							Dec-14		Jan-15		Feb-15

								3.14%		3.14%		3.12%


Page 9 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015


VII. 2003-B Note Parity Triggers
		Class A			Class B		Class C

Notes Outstanding	12/15/2014	$	361,086,231.18		$	386,243,580.47	$	443,789,557.08

Asset Balance	11/30/2014	$	424,807,330.80		$	424,807,330.80	$	424,807,330.80

Pool Balance	02/28/2015	$	409,929,298.47		$	409,929,298.47	$	409,929,298.47

Amounts on Deposit **	03/16/2015	$	15,211,199.20		$	15,151,384.39	$	14,883,644.38

Total		$	425,140,497.67		$	425,080,682.86	$	424,812,942.85
Are the Notes Parity Triggers in Effect? *			N			N		Y

Class A Enhancement		$	63,721,099.62

Specified Class A Enhancement		$	61,489,394.77	The greater of 15.0% of the Asset Balance or the Specified Overcollateralization Amount

Class B Enhancement		$	38,563,750.33

Specified Class B Enhancement		$	41,505,341.47	The greater of 10.125% of the Asset Balance or the Specified Overcollateralization Amount

Class C Enhancement		$	0.00

Specified Class C Enhancement		$	26,997,409.48	The greater of 3.0% of the Asset Balance or the Specified Overcollateralization Amount

* The note parity triggers are in effect if, for the applicable note trigger, the notes are in excess of either the (1) asset balance or (2) the pool plus the amounts on deposit. The note parity triggers will remain in effect until the applicable note enhancement is greater than or equal to the applicable specified note enhancement

** Amounts on Deposit in Trust Accounts for the Collection Period after Payment of Section XI Items B through F for the Class A; Items B through H for the Class B; and Items B through J for the Class C


Page 10 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015

VIII. 2003-B Cumulative Realized Losses Test

Cumulative Realized Losses Test

Distribution Dates

Percentage Allowable of Initial Pool Balance

9/15/2003

3/17/2008

15%

06/17/2008

3/15/2011

18%

06/15/2011

and thereafter

20%

Cumulative Net Realized Losses This Period

$100,019,121.93

Percent of Original Pool

8.02%

Is Trigger Activated?

The ‘‘Cumulative Realized Losses Test’’ is satisfied for any distribution date on which the cumulative principal amount of Charged-Off Loans, net of Recoveries, is equal to or less than the percentage of the initial Pool Balance set forth above for the specified period


Page 11 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015


IX. 2003-B Account Reconciliations

A.	Reserve Account:

	Specified Reserve Account Balance	3,118,201.00

	Actual Reserve Account Balance	3,118,201.00

B.	Cash Capitalization Account:

	Beginning Cash Capitalization Account Balance	0.00

	Less: Releases for this period*	0.00

	Ending Cash Capitalization Account Balance (CI)	0.00

	* Funds will be withdrawn from the Cash Capitalization Account under the following conditions:

	i If the amount of Available Funds on the distribution date is insufficient to pay through item J in section XI of this report.

	ii AFTER 6/15/2004 amounts on deposit in the Cash Capitalization Account exceeding 5.50% of initial Asset Balance will be released if the overcollateralization amount at the end of the prior distribution period is greater than or equal to the overcollateralization amount that existed on the closing date, and at least 45% of the loan principal is in repayment status and no more than 30 days past due.

	AFTER 6/15/2005 amounts on deposit in the Cash Capitalization Account exceeding 3.50% of initial Asset Balance will be released if the overcollateralization amount at the end of the prior distribution period is greater than or equal to twice the overcollateralization amount that existed on the closing date, and at least 60% of the loan principal is in repayment status and no more than 30 days past due.

	iii Any amount remaining on deposit in the cash capitalization account on the 12/15/2006 distribution date will be released to the collection account


Page 12 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015

X. 2003-B Principal Distribution Calculations

Has the Stepdown Date Occurred?*

Priority Principal Payments:

Is the Class A Note Parity Trigger in Effect?

Aggregate A Notes Outstanding

12/15/2014

361,086,231.18

iii

Asset Balance

02/28/2015

409,929,298.47

First Priority Principal Distribution Amount

0.00

Is the Class B Note Parity Trigger in Effect?

Aggregate A and B Notes Outstanding

12/15/2014

386,243,580.47

vii

Asset Balance

02/28/2015

409,929,298.47

viii

First Priority Principal Distribution Amount

0.00

Second Priority Principal Distribution Amount

0.00

Is the Class C Note Parity Trigger in Effect?

Aggregate A, B and C Notes Outstanding

12/15/2014

443,789,557.08

xii

Asset Balance

02/28/2015

409,929,298.47

xiii

First Priority Principal Distribution Amount

0.00

xiv

Second Priority Principal Distribution Amount

0.00

Third Priority Principal Distribution Amount

60,857,668.09

Regular Principal Distribution:

Aggregate Notes Outstanding

12/15/2014

443,789,557.08

Asset Balance

02/28/2015

409,929,298.47

iii

Specified Overcollateralization Amount

26,997,409.48

First Priority Principal Distribution Amount

0.00

Second Priority Principal Distribution Amount

0.00

Third Priority Principal Distribution Amount

60,857,668.09

vii

Regular Principal Distribution Amount

0.00

* The Stepdown Date is the earlier of the distribution date following the reduction of the Class A Notes to zero and 06/16/2008. At the Stepdown Date, principal payments made on the Class B and Class C Notes may begin to be paid pro-rata with the Class A Notes. See the prospectus for complete information concerning the Stepdown Date.


Page 13 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015

X. 2003-B Principal Distribution Calculations (cont’d)

Class A Noteholder’s Principal Distribution Amounts:

Aggregate Class A Notes Outstanding

12/15/2014

361,086,231.18

Asset Balance

02/28/2015

409,929,298.47

iii

85% of Asset Balance

348,439,903.70

Specified Overcollateralization Amount

26,997,409.48

Lesser of (iii) and (ii - iv)

348,439,903.70

Class A Noteholders’ Principal Distribution Amt

12,646,327.48

vii

Actual Principal Distribution Amount

12,646,327.48

Class B Noteholder’s Principal Distribution Amounts:

Aggregate Class B Notes Outstanding

12/15/2014

25,157,349.29

Asset Balance

02/28/2015

409,929,298.47

iii

89.875% of Asset Balance

368,423,957.00

Specified Overcollateralization Amount

26,997,409.48

Lesser of (iii) and (ii - iv)

368,423,957.00

Class B Noteholders’ Principal Distribution Amt

5,173,295.99

vii

Actual Principal Distribution Amount

2,237,316.90

Class C Noteholder’s Principal Distribution Amounts:

Aggregate Class C Notes Outstanding

12/15/2014

57,545,976.61

Asset Balance

02/28/2015

409,929,298.47

iii

97% of Asset Balance

397,631,419.52

Specified Overcollateralization Amount

26,997,409.48

Lesser of (iii) and (ii - iv)

382,931,888.99

Class C Noteholders’ Principal Distribution Amt

43,038,044.62

vii

Actual Principal Distribution Amount

0.00


Page 14 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015


XI. 2003-B Waterfall for Distributions

			Paid		Funds Balance

	A	Total Available Funds			$	16,519,208.36

	B	Primary Servicing Fees-Current Month plus any Unpaid	$	299,081.60	$	16,220,126.76

	C	Quarterly Administration Fee plus any Unpaid	$	20,000.00	$	16,200,126.76

	D	i. Auction Fees Due	$	694.88	$	16,199,431.88

		ii. Broker/Dealer Fees Due	$	12,262.50	$	16,187,169.38

	E	Gross Swap Payment due	$	613,471.44	$	15,573,697.94

	F	i. Class A Noteholders Interest Distribution Amount	$	362,498.74	$	15,211,199.20

		ii. Swap Termination Fees	$	-	$	15,211,199.20

	G	First Priority Principal Distribution Amount - Principal Distribution Account	$	0.00	$	15,211,199.20

	H	Class B Noteholders Interest Distribution Amount	$	59,814.81	$	15,151,384.39

	I	Second Priority Principal Distribution Amount - Principal Distribution Account	$	0.00	$	15,151,384.39

	J	Class C Noteholders Interest Distribution Amount	$	267,740.01	$	14,883,644.38

	K	Third Priority Principal Distribution Amount - Principal Distribution Account	$	14,883,644.38	$	0.00

	L	Increase to the Specified Reserve Account Balance	$	0.00	$	0.00

	M	Regular Principal Distribution Amount - Principal Distribution Account	$	0.00	$	0.00

	N	Carryover Servicing Fees	$	0.00	$	0.00

	O	Auction Rate Noteholder’s Interest Carryover	$	0.00	$	0.00

	P	Additional Swap Termination Payments	$	0.00	$	0.00

	Q	Additional Principal Distribution Amount	$	0.00	$	0.00

	R	Remaining Funds to the Excess Distribution Certificateholder	$	0.00	$	0.00


Page 15 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015

XII. 2003-B Principal Distribution Account Allocations


					Funds Balance
A.		Total from Collection Account	$	14,883,644.38	$	14,883,644.38

B.	i	Class A-1 Principal Distribution Amount Paid	$	0.00	$	14,883,644.38

	ii	Class A-2 Principal Distribution Amount Paid	$	12,646,327.48	$	2,237,316.90

	iii	Class A-3 Principal Distribution Amount Paid	$	0.00	$	2,237,316.90

	iv	Class A-4 Principal Distribution Amount Paid	$	0.00	$	2,237,316.90

C.		Class B Principal Distribution Amount Paid	$	2,237,316.90	$	0.00

D.		Class C Principal Distribution Amount Paid	$	0.00	$	0.00

E.		Remaining Class C Principal Distribution Amount Paid	$	0.00	$	0.00

F.		Remaining Class B Principal Distribution Amount Paid	$	0.00	$	0.00

G.	i	Remaining A-1 Principal Distribution Amount Paid	$	0.00	$	0.00

	ii	Remaining A-2 Principal Distribution Amount Paid	$	0.00	$	0.00

	iii	Remaining A-3 Principal Distribution Amount Paid	$	0.00	$	0.00

	iv	Remaining A-4 Principal Distribution Amount Paid	$	0.00	$	0.00



H.		Auction Rate Security Principal Distribution Reconciliation*

	i	Principal Due	$	0.00

	ii	Redeemable Shares		0

	iii	Aggregate Principal to be paid	$	0.00

	iv	Excess Carried Forward to Next Distribution	$	0.00

		* Auction Rate Security Principal is paid pro-rata in lots of $50,000


Page 16 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015

XIII. 2003-B Distributions



Distribution Amounts	A2			A3			B

Cusip/Isin		78443CAM6			78443CAN4			78443CAQ7
Beginning Balance	$	143,086,231.18		$	109,000,000.00		$	25,157,349.29
Index		LIBOR			ARS			LIBOR
Spread/Fixed Rate		0.40	%		N/A			0.70	%
Record Date (Days Prior to Distribution)		1 NEW YORK BUSINESS DAY			2 NY Business Days			1 NEW YORK BUSINESS DAY
Accrual Period Begin		12/15/2014			2/17/2015			12/15/2014
Accrual Period End		3/16/2015			3/16/2015			3/16/2015
Daycount Fraction		0.25277778			0.07500000			0.25277778
Interest Rate*		0.64060	%		1.60000	%		0.94060	%
Accrued Interest Factor		0.001619294			0.001200000			0.002377628
Current Interest Due	$	231,698.74		$	130,800.00		$	59,814.81
Interest Shortfall from Prior Period Plus Accrued Interest	$	-		$	-		$	-
Total Interest Due	$	231,698.74		$	130,800.00		$	59,814.81
Interest Paid	$	231,698.74		$	130,800.00		$	59,814.81
Interest Shortfall	$	-		$	-		$	-
Principal Paid	$	12,646,327.48		$	-		$	2,237,316.90
Ending Principal Balance	$	130,439,903.70		$	109,000,000.00		$	22,920,032.39
Paydown Factor		0.028708638			0.000000000			0.050997627
Ending Balance Factor		0.296113796			1.000000000			0.522441531

* Pay rates for Current Distribution. For the interest rates applicable to the next distribution date please see https://www.navient.com/about/investors/data/abrate.txt.


Page 17 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015

XIII. 2003-B Distributions



Distribution Amounts	C

Cusip/Isin		78443CAR5
Beginning Balance	$	57,545,976.61
Index		LIBOR
Spread/Fixed Rate		1.60	%
Record Date (Days Prior to Distribution)		1 NEW YORK BUSINESS DAY
Accrual Period Begin		12/15/2014
Accrual Period End		3/16/2015
Daycount Fraction		0.25277778
Interest Rate*		1.84060	%
Accrued Interest Factor		0.004652628
Current Interest Due	$	267,740.01
Interest Shortfall from Prior Period Plus Accrued Interest	$	-
Total Interest Due	$	267,740.01
Interest Paid	$	267,740.01
Interest Shortfall	$	-
Principal Paid	$	-
Ending Principal Balance	$	57,545,976.61
Paydown Factor		0.000000000
Ending Balance Factor		0.947352440

* Pay rates for Current Distribution. For the interest rates applicable to the next distribution date please see https://www.navient.com/about/investors/data/abrate.txt.


Page 18 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015

XIII. 2003-B Distributions (cont)



Auction Rate Noteholder’s Interest Carryover	A3		A4

Date to be Paid		03/17/2015		03/20/2015
Interest Carryover Paid	$	-	$	-
Ending Interest Carryover Shortfall	$	1,436,510.01	$	1,309,356.96

Auction Rate Security Principal Distribution Reconciliation*

Principal Due + Prior Period Excess	$	-	$	-
Redeemable Shares		0		0
Aggregate Principal to be paid	$	-	$	-
Excess Carried Forward to Next Distribution	$	-	$	-

* Principal allocated to Auction Rate Securities not payable on the distribution date is paid to the Future Distribution Account for payment on the related Auction Rate Distribution Date.


Page 19 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015

XIV. 2003-B Interest Rate Swap Calculations



SLM Student Loan Trust Pays:

	MERRILL LYNCH DERIVATIVE PRODUCTS		CITIBANK, N.A.

i. Notional Swap Amount (USD)	$	200,642,539.34	$	200,642,539.34

ii. Pay Rate (PRIME)		0.62000%		0.62000%

iii. Gross Swap Interest Payment Due Counterparty (USD)	$	306,735.72	$	306,735.72

iv. Days in Period 12/15/2014-03/15/2015		90		90



Counterparty Pays:

	MERRILL LYNCH DERIVATIVE PRODUCTS		CITIBANK, N.A.

i. Notional Swap Amount (USD)	$	200,642,539.34	$	200,642,539.34

ii. Pay Rate (LIBOR)		0.24060%		0.24060%

iii. Gross Swap Interest Payment Due Counterparty (USD)	$	122,027.45	$	122,027.45

iv. Days in Period 12/15/2014-03/16/2015		91		91


Page 20 of 20		Trust 2003-B Quarterly Servicing Report: Collection Period 12/01/2014 - 02/28/2015, Distribution Date 03/16/2015

SLM Private Credit Student Loan Trust 2003-B 10-D