Navient Student Loan Trust 2021-3: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to the following classes of notes to be issued by Navient Student Loan Trust 2021-3:

-- Up to $613,300,000 Class A-1A Notes rated AAA (sf)*
-- Up to $828,600,000 Class A-1B Notes rated AAA (sf)*
-- $13,900,000 Class B Notes rated AAA (sf)

*The allocation of the aggregate initial principal balance of the Class A Notes will be determined on or before the date of pricing. The initial principal balance of the Class A-1A Notes will be an amount not less than $136,000,000 and not more than $613,300,000. The initial principal balance of the Class A-1B Notes will be an amount up to $828,600,000.