$260,000,000 Class A-1 Student Loan-Backed Notes
$619,000,000 Class A-2 Student Loan-Backed Notes
$195,000,000 Class A-3 Student Loan-Backed Notes
$658,000,000 Class A-4 Student Loan-Backed Notes
$532,000,000 Class A-5 Student Loan-Backed Notes
$761,039,000 Class A-6 Student Loan-Backed Notes
$93,558,000 Class B Student Loan-Backed Notes

Quarterly Distribution Report
Quarterly Distribution Factors
Current Rates
Prospectus
Historical Reports

Date of Issue: September 14, 2006

Issue Amount: $3,118,597,000

Securities Offered:
Class A-1 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR - .02%
CUSIP: 78443HAA1

Class A-2 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .00%
CUSIP: 78443HAB9

Class A-3 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .02%
CUSIP: 78443HAC7

Class A-4 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .08%
CUSIP: 78443HAD5

Class A-5 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .11%
CUSIP: 78443HAE3

Class A-6 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .16%
CUSIP: 78443HAF0

Class B Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .23%
CUSIP: 78443HAJ2

Servicer:
Sallie Mae, Inc.

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

Indenture Trustee:
Deustche Bank Trust Company Americas

Luxembourg Paying Agent:
Deutsche Bank Luxembourg SA

Administrator:
Sallie Mae, Inc.

Underwriters:
Credit Suisse
Lehman Brothers
Wachovia Securities
Merrill Lynch & Co.
Morgan Stanley
UBS Investment Bank