Navient Student Loan Trust 2020-1: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to the Navient Student Loan Trust 2020-1 (Navient 2020-1) Class A-1A Notes and Class A-1B Notes (collectively, the Class A Notes) and the Class B Notes (together with the Class A notes, the Notes). The DBRS Morningstar ratings address the timely payment of interest and the full payment of principal in accordance with the terms and conditions of the Navient 2020-1 transaction documents.