$716,000,000 Class A-1 Student Loan-Backed Notes
$763,000,000 Class A-2 Student Loan-Backed Notes
$391,000,000 Class A-3 Student Loan-Backed Notes
$676,500,000 Class A-4A Student Loan-Backed Notes
$1,804,295,000 Class A-5 Student Loan-Backed Notes
$71,000,000 Class B-1 Student Loan-Backed Notes
$35,205,000 Class B-2A Student Loan-Backed Notes
$49,000,000 Class B-2B Student Loan-Backed Notes

Quarterly Distribution Report
Quarterly Distribution Factors
Current Rates
Prospectus
Historical Reports

Date of Issue: April 5, 2007

Issue Amount: $4,506,000,000

Securities Offered:
Class A-1 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .00%
CUSIP: 78444AAA5

Class A-2 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .04%
CUSIP: 78444AAB3

Class A-3 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .06%
CUSIP: 78444AAC1

Class A-4A Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .08%
CUSIP: 78444AAD9

Class A-5 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .13%
CUSIP: 78444AAE7

Class B-1 Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .14%
CUSIP: 78444AAG2

Class B-2A Floating Rate Asset-Backed Notes
Rate: Three Month LIBOR + .25%
CUSIP: 78444AAH0

Class B-2B Auction Rate Asset-Backed Notes
Rate: Auction Rate
CUSIP: 78444AAJ6

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
Barclays Capital
JPMorgan
Wachovia Securities
DEPFA BANK
Fortis Securities LLC