$201,470,000 Class A-1 Student Loan-Backed Notes
$229,400,000 Class A-2 Student Loan-Backed Notes
$198,460,000 Class A-3 Student Loan-Backed Notes
$206,940,000 Class A-4 Student Loan-Backed Notes
€500,000,000 Class A-5 Student Loan-Backed Notes
$94,550,000 Class A-6 Student Loan-Backed Notes
$100,000,000 Class A-7 Student Loan-Backed Notes
$100,000,000 Class A-8 Student Loan-Backed Notes
$100,000,000 Class A-9 Student Loan-Backed Notes
$100,000,000 Class A-10 Student Loan-Backed Notes
$100,000,000 Class A-11 Student Loan-Backed Notes
$59,850,000 Class B Student Loan-Backed Notes
| Date of Issue: | November 26, 2002 |
| Issue Amount: | $1,995,670,000.00* |
Securities Offered:
| Class A-1 Floating Rate Asset-Backed Notes |
|---|
| Rate: | Three Month LIBOR + .00% |
| CUSIP: | 78442GEM4 |
| Class A-2 Floating Rate Asset-Backed Notes |
|---|
| Rate: | Three Month LIBOR + .04% |
| CUSIP: | 78442GEN2 |
| Class A-3 Floating Rate Asset-Backed Notes |
|---|
| Rate: | Three Month LIBOR + .09% |
| CUSIP: | 78442GEP7 |
| Class A-4 Floating Rate Asset-Backed Notes |
|---|
| Rate: | Three Month LIBOR + .18% |
| CUSIP: | 78442GEQ5 |
| Class A-5 Floating Rate Asset-Backed Notes |
|---|
| Rate: | Three Month Euribor + .27% |
| CUSIP: | XS0158197821 |
| Class A-6 Auction Rate Asset-Backed Notes |
|---|
| Rate: | Auction Rate |
| CUSIP: | 78442GES1 |
| Class A-7 Auction Rate Asset-Backed Notes |
|---|
| Rate: | Auction Rate |
| CUSIP: | 78442GET9 |
| Class A-8 Auction Rate Asset-Backed Notes |
|---|
| Rate: | Auction Rate |
| CUSIP: | 78442GEU6 |
| Class A-9 Auction Rate Asset-Backed Notes |
|---|
| Rate: | Auction Rate |
| CUSIP: | 78442GEV4 |
| Class A-10 Auction Rate Asset-Backed Notes |
|---|
| Rate: | Auction Rate |
| CUSIP: | 78442GEW2 |
| Class A-11 Auction Rate Asset-Backed Notes |
|---|
| Rate: | Auction Rate |
| CUSIP: | 78442GEX0 |
| Class B Auction Rate Asset-Backed Notes |
|---|
| Rate: | Auction Rate |
| CUSIP | 78442GEY8 |
| Servicer: | Sallie Mae Servicing LP |
| Eligible Lender Trustee: | Deutsche Bank Trust Company Americas |
| Auction Agent: | The Bank of New York |
| Indenture Trustee: | Deutsche Bank National Trust Company |
| Luxembourg Paying Agent: | The Bank of New York (Luxembourg) SA |
| Underwriters: | Credit Suisse First Boston
Salomon Smith Barney
Deutsche Bank Securities
Lehman Brothers
HypoVereinsbank |
*Assuming $1.01 coverts to €1.00.