$466,000,000 Class A-1 Student Loan-Backed Notes
$692,000,000 Class A-2 Student Loan-Backed Notes
$237,000,000 Class A-3 Student Loan-Backed Notes
$559,210,000 Class A-4 Student Loan-Backed Notes
$60,439,000 Class B Student Loan-Backed Notes

Quarterly Distribution Report
Quarterly Distribution Factors
Current Rates
Prospectus
Historical Reports

Date of Issue: June 12, 2008

Issue Amount: $2,014,649,000

Securities Offered:
Class A-1 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .40%
CUSIP: 78445CAA0

Class A-2 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .55%
CUSIP: 78445CAB8

Class A-3 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .75%
CUSIP: 78445CAC6

Class A-4 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + 1.10%
CUSIP: 78445CAD4

Class B Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + 1.85%
CUSIP: 78445CAE2

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:
Barclays Capital
Merrill Lynch & Co.
RBS Greenwich Capital
Credit Suisse
DEPFA First Albany Securities LLC
RBC Capital Markets