The ratings assigned to SoFi Alternative Trust 2020-A's (SAT 2020-A's) post-graduate loan asset-backed notes reflect our view of: The approximately 18.0%-18.4% and 14.8%-15.1% credit support available (including excess spread) in our 'AAA' and 'AA' break-even cash flow scenarios, respectively. The credit support is defined as the maximum net loss rate our 'AAA' and 'AA' break-even cash flow scenarios could withstand while still making interest payments on every distribution date and full principal payments by the legal maturity. These credit support levels provide coverage of approximately 10.0x and 6.2x our 1.5%-2.0% base-case net loss assumption in the 'AAA' and 'AA' break-even cash flow scenarios.