$196,000,000 Class A-1 Student Loan-Backed Notes
$448,000,000 Class A-2 Student Loan-Backed Notes
$157,000,000 Class A-3 Student Loan-Backed Notes
$510,000,000 Class A-4 Student Loan-Backed Notes
$451,000,000 Class A-5 Student Loan-Backed Notes
$764,116,000 Class A-6 Student Loan-Backed Notes
$78,000,000 Class B Student Loan-Backed Notes

Quarterly Distribution Report
Quarterly Distribution Factors
Current Rates
Prospectus
Historical Reports

Date of Issue: October 12, 2006

Issue Amount: $2,604,116,000

Securities Offered:
Class A-1 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR - .03%
CUSIP: 78443KAA4

Class A-2 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .00%
CUSIP: 78443KAB2

Class A-3 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .02%
CUSIP: 78443KAC0

Class A-4 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .07%
CUSIP: 78443KAD8

Class A-5 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .10%
CUSIP: 78443KAE6

Class A-6 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .16%
CUSIP: 78443KAF3

Class B Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .23%
CUSIP: 78443KAK2

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:
Banc of America Securities LLC
Wachovia Securities
Citigroup
Merrill Lynch & Co.
UBS Investment Bank