$254,000,000 Class A-1 Student Loan-Backed Notes
$233,000,000 Class A-2 Student Loan-Backed Notes
$133,000,000 Class A-3 Student Loan-Backed Notes
$375,000,000 Class A-4 Student Loan-Backed Notes
$517,957,000 Class A-5 Student Loan-Backed Notes
$46,793,000 Class B Student Loan-Backed Notes

Quarterly Distribution Report
Quarterly Distribution Factors
Current Rates
Prospectus
Historical Reports

Date of Issue: October 23, 2007

Issue Amount: $1,559,750,000

Securities Offered:
Class A-1 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .17%
CUSIP: 78444CAA1

Class A-2 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .25%
CUSIP: 78444CAB9

Class A-3 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .33%
CUSIP: 78444CAC7

Class A-4 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .38%
CUSIP: 78444CAD5

Class A-5 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .49%
CUSIP: 78444CAE3

Class B Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .85%
CUSIP: 78444CAF0

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:
Citi
Deutsche Bank Securities
Morgan Stanley
UBS Investment Bank