$618,000,000 Class A-1 Student Loan-Backed Notes
$514,000,000 Class A-2 Student Loan-Backed Notes
$1,080,064,000 Class A-3 Student Loan-Backed Notes
$68,414,000 Class B Student Loan-Backed Notes

Quarterly Distribution Report
Quarterly Distribution Factors
Current Rates
Prospectus
Historical Reports

Date of Issue: February 7, 2008

Issue Amount: $2,280,478,000

Securities Offered:
Class A-1 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .30%
CUSIP: 784442AA3

Class A-2 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .45%
CUSIP: 784442AB1

Class A-3 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .75%
CUSIP: 784442AC9

Class B Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + 1.20%
CUSIP: 784442AD7

Servicer:
Sallie Mae, Inc.

Eligible Lender Trustee:
The Bank of New York Trust Company, N.A.

Indenture Trustee:
Deutsche Bank Trust Company Americas

Luxembourg Paying Agent:
Deutsche Bank Luxembourg SA

Administrator:
Sallie Mae, Inc.

Underwriters:
Banc of America Securities LLC
RBS Greenwich Capital
JPMorgan
Credit Suisse
Fortis Securities LLC
RBC Capital Markets
UBS Investment Bank