$451,000,000 Class A-1 Student Loan-Backed Notes
$209,383,000 Class A-2 Student Loan-Backed Notes
$300,000,000 Class A-3 Student Loan-Backed Notes
$335,000,000 Class A-4 Student Loan-Backed Notes
$406,059,000 Class A-5 Student Loan-Backed Notes
| Date of Issue: | July 22, 2010 |
| Issue Amount: | $1,701,442,000 |
Securities Offered:
| Class A-1 Floating Rate Asset-Backed Notes |
|---|
| Rate: | One Month LIBOR + 1.65% |
| CUSIP: | 78445QAA9 |
| Class A-2 Floating Rate Asset-Backed Notes |
|---|
| Rate: | One Month LIBOR + 2.65% |
| CUSIP: | 78445QAB7 |
| Class A-3 Floating Rate Asset-Backed Notes |
|---|
| Rate: | One Month LIBOR + 3.50% |
| CUSIP: | 78445QAC5 |
| Class A-4 Floating Rate Asset-Backed Notes |
|---|
| Rate: | One Month LIBOR + 4.25% |
| CUSIP: | 78445QAD3 |
| Class A-5 Floating Rate Asset-Backed Notes |
|---|
| Rate: | One Month LIBOR + 4.75% |
| CUSIP: | 78445QAE1 |
| Servicer: | Sallie Mae, Inc. |
| Indenture Trustee: | The Bank of New York |
| Administrator: | Sallie Mae, Inc. |
| Administrator: | Sallie Mae, Inc. |
| Luxembourg Paying Agent: | Deutsche Bank Luxembourg SA |
| Underwriters: | Barclays Capital
Credit Suisse
RBS
RBC Capital Markets |