$222,000,000 Class A-1 Student Loan-Backed Notes
$201,000,000 Class A-2 Student Loan-Backed Notes
$313,000,000 Class A-3 Student Loan-Backed Notes
$286,000,000 Class A-4 Student Loan-Backed Notes
$342,000,000 Class A-5 Student Loan-Backed Notes
$1,149,512,000 Class A-6 Student Loan-Backed Notes
$37,538,000 Class B-1 Student Loan-Backed Notes
$40,200,000 Class B-2 Student Loan-Backed Notes

Quarterly Distribution Report
Quarterly Distribution Factors
Current Rates
Prospectus
Historical Reports

Date of Issue: July 19, 2007

Issue Amount: $2,591,250,000

Securities Offered:
Class A-1 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR - .01%
CUSIP: 78443FAA5

Class A-2 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .00%
CUSIP: 78443FAB3

Class A-3 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .03%
CUSIP: 78443FAC1

Class A-4 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .06%
CUSIP: 78443FAD9

Class A-5 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .08%
CUSIP: 78443FAE7

Class A-6 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .11%
CUSIP: 78443FAF4

Class B-1 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .14%
CUSIP: 78443FAG2

Class B-2 Auction Rate Asset-Backed Notes
Rate: Auction Rate
CUSIP: 78443FAJ6

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
JPMorgan
Credit Suisse
Deutsche Bank Securities
Merrill Lynch & Co.
RBS Greenwich Capital