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Classes A1 through A3, which is composed of seven tranches, are expected to pay coupons of 6.39%.
Rising oil prices sparked the declines earlier in the session, fanning worries around elevated inflation and punishing European government debt as well.
Assets have a non-zero credit score is 631, notably lower than previous transactions. Also, a slight majority of borrowers, 53.23%, have credit scores of 660 or lower.
Loans originated under Sallie Mae's Smart Option loan program, which have demonstrated significantly lower default rates compared with those from the Signature program, make up the entire collateral pool.
After closing, which is expected on February 27, coupons are expected to pay coupons of 4.83% on the notes rated AAA and 5.04% on the AAA-rated A1LCF.
