$264,000,000 Class A-1 Student Loan-Backed Notes
$307,000,000 Class A-2 Student Loan-Backed Notes
$145,000,000 Class A-3 Student Loan-Backed Notes
$236,744,000 Class A-4 Student Loan-Backed Notes
$29,466,000 Class B Student Loan-Backed Notes

Quarterly Distribution Report
Quarterly Distribution Factors
Current Rates
Prospectus
Historical Reports

Date of Issue: August 5, 2008

Issue Amount: $982,210,000

Securities Offered:
Class A-1 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .50%
CUSIP: 78445GAA1

Class A-2 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .90%
CUSIP: 78445GAB9

Class A-3 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + 1.15%
CUSIP: 78445GAC7

Class A-4 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + 1.50%
CUSIP: 78445GAD5

Class B Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + 2.25%
CUSIP: 78445GAE3

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:
JPMorgan
Merrill Lynch & Co.
RBS Greenwich Capital