Date of Issue:   September 20, 2005

Issue Amount:   $2,591,538,000

Securities Offered:
Class A-1 Floating Rate Asset-Backed Notes
Rate:  Three Month LIBOR + .00%
CUSIP:  78442GQM1

Class A-2 Floating Rate Asset-Backed Notes
Rate:  Three Month LIBOR + .09%
CUSIP:  78442GQN9

Class A-3 Floating Rate Asset-Backed Notes
Rate:  Three Month LIBOR + .11%
CUSIP:  78442GQP4

Class A-4 Reset Rate Asset-Backed Notes
Rate:  4.25% *
CUSIP:  78442GQR0

Class A-5 Floating Rate Asset-Backed Notes
Rate:  Three Month LIBOR + .17%
CUSIP:  78442GQS8

Class B Floating Rate Asset-Backed Notes
Rate:  Three Month LIBOR + .31%
CUSIP:  78442GQT6

Servicer:
Sallie Mae, Inc.

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

Indenture Trustee:
Deutsche Bank Trust Company Americas

Administrator:
Sallie Mae, Inc.

Luxembourg Paying Agent:
Deutsche Bank Luxembourg SA

Underwriters:
Deutsche Bank Securities
Merrill Lynch & Co.
ABN AMRO Incorporated
Banc of America Securities LLC
Barclays Capital
UBS Investment Bank

*   Effective until the class A-4 notes initial reset date, which will occur on October 27, 2008.