# EDGAR Filing Document

**Accession Number:** 0002021079
**File Stem:** 0000929638-26-001022
**Filing Date:** 2026-3
**Character Count:** 14433
**Document Hash:** 6495a09f21c10e1e18cf7c37440d374f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000929638-26-001022.hdr.sgml**: 20260316

**ACCESSION NUMBER**: 0000929638-26-001022

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260316

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20260316

**DATE AS OF CHANGE**: 20260316

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Student loans

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MPOWER Initial Depositor Trust
- **CENTRAL INDEX KEY:** 0002021079

**ORGANIZATION NAME:**
- **EIN:** 996097027
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-07086
- **FILM NUMBER:** 26758000

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WILMINGTON SAVINGS FUND SOCIETY, FSB
- **STREET 2:** 500 DELAWARE AVENUE, 11TH FLOOR
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** 202-417-3800

**MAIL ADDRESS:**
- **STREET 1:** C/O WILMINGTON SAVINGS FUND SOCIETY, FSB
- **STREET 2:** 500 DELAWARE AVENUE, 11TH FLOOR
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MPOWER Initial Depositor Trust
- **CENTRAL INDEX KEY:** 0002021079

**ORGANIZATION NAME:**
- **EIN:** 996097027
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WILMINGTON SAVINGS FUND SOCIETY, FSB
- **STREET 2:** 500 DELAWARE AVENUE, 11TH FLOOR
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** 202-417-3800

**MAIL ADDRESS:**
- **STREET 1:** C/O WILMINGTON SAVINGS FUND SOCIETY, FSB
- **STREET 2:** 500 DELAWARE AVENUE, 11TH FLOOR
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

#### FORM ABS-15G

#### ASSET-BACKED SECURITIZER

#### REPORT PURSUANT TO SECTION 15G OF

#### THE SECURITIES EXCHANGE ACT OF 1934

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

___ Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period ______________ to ______________.

Date of Report (Date of earliest event reported): ______________<br>Commission File Number of securitizer:&nbsp;&nbsp;&nbsp;&nbsp; ______________<br>Central Index Key Number of securitizer:&nbsp;&nbsp;&nbsp;&nbsp; ______________<br>

<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <br> Name and telephone number, including area code, of the person to

contact in connection with this filing.

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) [ ]

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) [ ]

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) [ ]

_<u>X</u>_ Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: 0002021079

Central Index Key Number of sponsor: 0001639970

<u>MPOWER Education Trust 2026-A</u>

(Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): N/A

Central Index Key Number of underwriter (if applicable): N/A

<u>Jatin Rajput, (917) 561-9504</u><br> Name and telephone number, including area code, of the person to

contact in connection with this filing.

------

#### INFORMATION TO BE INCLUDED IN THE REPORT

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| | |
|:---|:---|
| **Item 2.01.** | **<u>Findings and Conclusions of a Third Party Due Diligence Report Obtained By the Issuer</u>** |

---

Attached as Exhibit 99.1 hereto is an agreed-upon procedures report, dated March 16, 2026, of Deloitte & Touche LLP, obtained by the securitizer, which report sets forth the findings and conclusions, as applicable, of Deloitte & Touche LLP with respect to certain agreed-upon procedures performed by Deloitte & Touche LLP.

------

#### SIGNATURES

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

Dated: March 16, 2026

---

| | | |
|:---|:---|:---|
| MPOWER INITIAL DEPOSITOR TRUST<br> (Securitizer)  | MPOWER INITIAL DEPOSITOR TRUST<br> (Securitizer)  | MPOWER INITIAL DEPOSITOR TRUST<br> (Securitizer)  |
| By: MPOWER Financing, Public Benefit | By: MPOWER Financing, Public Benefit | By: MPOWER Financing, Public Benefit |
| Corporation, as administrator | Corporation, as administrator | Corporation, as administrator |
| By:  | <u>/s/ Jatin Rajput&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | <u>/s/ Jatin Rajput&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
|  | Name:  | Jatin Rajput |
|  | Title: | Chief Financial Officer |

---

------

#### EXHIBIT INDEX
<u>Exhibit Number</u>

99.1 Deloitte Agreed-Upon Procedures Report

## Exhibit 99.1

#### Exhibit 99.1<br>

---

| | |
|:---|:---|
| ![](logo_deloitte.jpg) <br>| **Deloitte & Touche LLP** 3 Second Street<br> Suite 301<br> Harborside Plaza 10<br> Jersey City, NJ 07302<br> USA<br>Tel: +1 212 937 8202<br> www.deloitte.com<br>|

---

MPOWER Financing, PBC 1101 Connecticut Avenue NW #900 Washington, DC 20036 <br>

#### Independent Accountants' Report

#### on Applying Agreed-Upon Procedures

We have performed the procedures described below, related to certain information with respect to a portfolio of student loans in connection with the proposed offering of MPOWER Education Trust 2026-A. MPOWER Financing, PBC (the "Company") is responsible for the information provided to us, including the information set forth in the Statistical Data File (as defined herein).

The Company has agreed to the procedures and acknowledged that the procedures performed are appropriate to meet the intended purpose of evaluating the accuracy of certain information set forth in the Statistical Data File. Additionally, Goldman Sachs & Co. LLC ("Goldman" and together with the Company, the "Specified Parties") has agreed to the procedures and acknowledged that the procedures performed are appropriate for their purposes. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. Consequently, we make no representations regarding the appropriateness of the procedures described below either for the purpose for which this report has been requested or for any other purpose.

&nbsp;&nbsp;&nbsp;&nbsp; **Agreed-Upon Procedures**

On February 16, 2026, representatives of Goldman, on behalf of the Company, provided us with a computer-generated student loan data file and related record layout containing data, as represented to us by the Company, as of the close of business January 31, 2026, with respect to 8,935 student loans (the "Statistical Data File"). At the Company's instruction, we randomly selected 100 student loans contracts (the "Sample Loans") from the Statistical Data File and performed certain comparisons and recomputations for each of the Sample Loans relating to the student loan characteristics (the "Characteristics") set forth on the Statistical Data File and indicated below.

**Member of**<br> Deloitte Touche Tohmatsu Limited<br>

------

#### Characteristics
1. MPOWER Loan Id (for information purposes only) 19. Risk based tiers

2. Borrower ID (for information purposes only) 20. Projected fully funded date

3. Stem/Business/Others 21. Remaining funding amt

4. Grad/Undergrad 22. Total payment term

5. Degree 23. Total amortization term

6. University 24. Product

7. Major 25. Maturity date

8. School state 26. Total disbursements

9. Citizenship country 27. Enrollment status

10. School country 28. Principal balance

11. FICO (US) 29. Current interest rate

12. FICO (CA) 30. Days past due

13. Nova credit score 31. Status

14. Unsecured FDTI 32. Grace flag

15. Unsecured, auto and mortgage FDTI 33. Remaining total payment term

16. First disbursement date 34. Remaining amortization term

17. Annual percentage rate 35. Number of payments to repayment

18. Original interest rate 36. Interest to be capitalized

We compared Characteristics 3. through 21. to the corresponding information set forth on or derived from queries from the Company's origination system (collectively, the "Origination System Query") delivered by the Company on February 23, 2026.

We compared Characteristics 22. and 23. to the corresponding information set forth on the "Payment Schedule."

We compared Characteristics 22. through 36. to the corresponding information set forth on queries from the Company's servicing system as of January 31, 2026 (collectively, the "Servicing System Query") delivered by the Company on February 23, 2026.

The student loan documents described above, including any information obtained from the indicated systems, and any other related documents used in support of the Characteristics were provided to us by representatives of the Company and are collectively referred to hereinafter as the "Loan Documents." We were not requested to perform, and we did not perform, any procedures with respect to the preparation or verification of any of the information set forth on the Loan Documents and we make no representations concerning the accuracy or completeness of any of the information contained therein. In certain instances, our procedures were performed using data imaged facsimiles or photocopies of the Loan Documents. In addition, we make no representations as to whether the Loan Documents are comprehensive or valid instruments or reflect the current prevailing terms with respect to the corresponding Sample Loans.

#### Agreed-Upon Procedures' Findings

The results of the foregoing procedures indicated that the Characteristics set forth on the Statistical Data File were found to be in agreement with the above-mentioned Loan Documents.

\*\*\*\*\*\*

We make no representations as to the (i) actual characteristics or existence of the underlying documents or data comprising the student loans or underlying documentation underlying the Statistical Data File or the conformity of their characteristics with those assumed for purposes of the procedures described herein, (ii) existence or ownership of the student loans or (iii) reasonableness of any of the aforementioned assumptions, information or methodologies.

------

It should be understood that we make no representations as to questions of legal interpretation or as to the sufficiency for your purposes of the procedures enumerated in the preceding paragraphs. Also, such procedures would not necessarily reveal any material misstatement of the information referred to above. We have no responsibility to update this report for events or circumstances that occur subsequent to the date of this report.

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants ("AICPA"). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the engaging party has agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to conduct, and did not conduct, an (i) audit conducted in accordance with generally accepted auditing standards or (ii) examination or a review engagement conducted in accordance with attestation standards established by the AICPA, the objective of which would be the expression of an opinion or conclusion, respectively, on the Statistical Data File. Accordingly, we do not express such an opinion or conclusion, or any other form of assurance, including reasonable assurance. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

We are required to be independent of the Company and to meet our other ethical responsibilities, as applicable for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedure engagements are less restrictive than independence requirements for audit and other attestation services.

None of the engagement, procedures or report was intended to address, nor did they address, the (i) conformity of the origination of the assets to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) value of collateral securing such assets or (iii) compliance of the originator of the assets with federal, state, and local laws and regulations.

None of the engagement, procedures or report were intended to satisfy, nor did they satisfy, any criteria for due diligence published by a nationally recognized statistical rating organization.

This report is intended solely for the information and use of the Specified Parties identified above and is not intended to be and should not be used by anyone other than these Specified Parties.

Yours truly,

/s/ Deloitte & Touche LLP

March 16, 2026

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