ANNEX A

THE TRUST STUDENT LOAN POOL

The trust student loans owned by the trust were originally selected from a portfolio of consolidation student loans owned by SLM ECFC and VG Funding by employing several criteria, including requirements that each trust student loan as of the original cutoff date (and with respect to each additional trust student loan as of its related subsequent cutoff date):

•

was a consolidation loan guaranteed as to principal and interest by a guaranty agency under a guarantee agreement and the guaranty agency was, in turn, reinsured by the Department of Education in accordance with the FFELP;

•

contained terms in accordance with those required by the FFELP, the guarantee agreements and other applicable requirements;

•

was fully disbursed;

•

was not more than 210 days past due;

•

did not have a borrower who was noted in the related records of the servicer as being currently involved in a bankruptcy proceeding; and

•

had special allowance payments, if any, based on the three-month commercial paper rate or the 91-day Treasury bill rate.

No trust student loan as of the applicable cutoff date was subject to any prior obligation to sell that loan to a third party.

Unless otherwise specified, all information with respect to the trust student loans is presented as of November 30, 2023, which is the statistical disclosure date.

The following tables provide a description of specified characteristics of the trust student loans as of the statistical disclosure date. The aggregate outstanding principal balance of the loans in each of the following tables includes the principal balance due from borrowers, plus accrued interest of $3,160,317 to be capitalized as of the statistical disclosure date. Percentages and dollar amounts in any table may not total 100% or whole dollars due to rounding. The following tables also contain information concerning the total number of loans and total number of borrowers in the portfolio of trust student loans. For ease of administration, the servicer separates a consolidation loan on its system into two separate loan segments representing subsidized and unsubsidized segments of the same loan. The following tables reflect those loan segments within the number of loans. In addition, 5 borrowers have more than one trust student loan.

The distribution by weighted average interest rate applicable to the trust student loans on any date following the statistical disclosure date may vary significantly from that in the following tables as a result of variations in the effective rates of interest applicable to the trust student loans and in rates of principal reduction. Moreover, the information below about the weighted average remaining term to maturity of the trust student loans as of the statistical disclosure date may vary significantly from the actual term to maturity of any of the trust student loans as a result of prepayments or the granting of deferment and forbearance periods.

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The following tables also contain information concerning the total number of loans and the total number of borrowers in the portfolio of initial trust student loans.

Percentages and dollar amounts in any table may not total 100% of the initial trust student loan balance, as applicable, due to rounding.

COMPOSITION OF THE TRUST STUDENT LOANS AS OF

THE STATISTICAL DISCLOSURE DATE

Aggregate Outstanding Principal Balance	$	624,011,251
Aggregate Outstanding Principal Balance – Treasury Bill	$	34,207,258
Percentage of Aggregate Outstanding Principal Balance – Treasury Bill		5.48	%
Aggregate Outstanding Principal Balance – One-Month LIBOR	$	543,326,719
Percentage of Aggregate Outstanding Principal Balance – One-Month LIBOR		87.07	%
Aggregate Outstanding Principal Balance – Treasury Bill Other	$	46,477,273
Percentage of Aggregate Outstanding Principal Balance – Treasury Bill Other		7.45	%
Number of Borrowers		18,680
Average Outstanding Principal Balance Per Borrower	$	33,405
Number of Loans		34,204
Average Outstanding Principal Balance Per Loan – Treasury Bill	$	46,795
Average Outstanding Principal Balance Per Loan – One-Month LIBOR	$	16,759
Average Outstanding Principal Balance Per Loan – Treasury Bill Other	$	44,138
Weighted Average Remaining Term to Scheduled Maturity	178 months
Weighted Average Annual Interest Rate		4.90	%

We determined the weighted average remaining term to maturity shown in the table from the statistical disclosure date to the stated maturity date of the applicable trust student loan without giving effect to any deferment or forbearance periods that may be granted in the future. See Appendix A to the preliminary remarketing memorandum.

The weighted average annual borrower interest rate shown in the table is exclusive of special allowance payments. The weighted average spread for special allowance payments to the 91-day Treasury bill rate was 3.12% as of the statistical disclosure date.

The weighted average spread for special allowance payments to the one-month LIBOR rate was 2.64% as of the statistical disclosure date. See “Special Allowance Payments” in Appendix A to the preliminary remarketing memorandum.

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The category “Other” in the table above represents the Health Education Assistance Loan Program (which we refer to as “HEAL” and the loans originated under such program as “HEAL Loans”) portion of any consolidation loans made under the FFELP which consolidated one or more Stafford Loans, SLS Loans and/or PLUS Loans with one or more student loans originated under the HEAL Program. These consolidation loans are guaranteed as to principal and interest by a guaranty agency and reinsured by the Department of Education. The HEAL portion of any consolidation loan is not eligible to receive special allowance payments or interest subsidy payments. The interest rate on the HEAL Loan segment of any such consolidation loan is variable and is reset each July 1, based upon the average bond-equivalent rate for 91-day Treasury bills auctioned during the three months ending June 30, plus 3.0%. In addition, the applicable interest rate on the HEAL Loan segment of any such consolidation loan is not subject to any cap on the interest rate that may apply to the principal of the HEAL Loan segment.

For these purposes, the 91-day Treasury bill rate is the weighted average per annum discount rate, expressed on a bond equivalent basis and applied on a daily basis, for direct obligations of the United States with a maturity of thirteen weeks, as reported by the U.S. Department of the Treasury.

DISTRIBUTION OF THE TRUST STUDENT LOANS

BY BORROWER INTEREST RATES AS OF THE STATISTICAL

DISCLOSURE DATE

Interest Rates	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Less than or equal to 3.00%		7,189	$	92,582,212		14.8	%
3.01% to 3.50%		8,763		106,394,835		17.1
3.51% to 4.00%		6,322		99,580,322		16.0
4.01% to 4.50%		6,215		102,899,827		16.5
4.51% to 5.00%		1,326		30,571,330		4.9
5.01% to 5.50%		544		13,614,635		2.2
5.51% to 6.00%		375		10,612,392		1.7
6.01% to 6.50%		353		12,684,207		2.0
6.51% to 7.00%		549		17,000,975		2.7
7.01% to 7.50%		242		9,128,533		1.5
7.51% to 8.00%		447		19,494,261		3.1
8.01% to 8.50%		1,607		90,221,726		14.5
Equal to or greater than 8.51%		272		19,225,996		3.1

Total		34,204	$	624,011,251		100.0	%

We determined the interest rates shown in the table above using the interest rates applicable to the trust student loans as of the statistical disclosure date. Because trust student loans with different interest rates are likely to be repaid at different rates, this information is not likely to remain applicable to the trust student loans after the statistical disclosure date. See Appendix A to the preliminary remarketing memorandum and “The Student Loan Pools – SLM Corporation’s Student Loan Financing Business” in the prospectus.

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DISTRIBUTION OF THE TRUST STUDENT LOANS BY

OUTSTANDING PRINCIPAL BALANCE PER BORROWER

AS OF THE STATISTICAL DISCLOSURE DATE

Range of Outstanding Principal Balance		Number of Borrowers		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Less than $5,000.00			4,153	$	9,545,554		1.5	%
$	5,000.00-$ 9,999.99		2,693		19,873,629		3.2
$	10,000.00-$14,999.99		2,029		25,175,962		4.0
$	15,000.00-$19,999.99		1,596		27,761,464		4.4
$	20,000.00-$24,999.99		1,252		27,955,116		4.5
$	25,000.00-$29,999.99		1,055		28,957,742		4.6
$	30,000.00-$34,999.99		862		28,037,410		4.5
$	35,000.00-$39,999.99		669		25,077,397		4.0
$	40,000.00-$44,999.99		590		25,023,626		4.0
$	45,000.00-$49,999.99		448		21,249,012		3.4
$	50,000.00-$54,999.99		396		20,800,986		3.3
$	55,000.00-$59,999.99		338		19,410,025		3.1
$	60,000.00-$64,999.99		286		17,838,897		2.9
$	65,000.00-$69,999.99		214		14,422,079		2.3
$	70,000.00-$74,999.99		185		13,402,918		2.1
$	75,000.00-$79,999.99		179		13,878,828		2.2
$	80,000.00-$84,999.99		150		12,377,647		2.0
$	85,000.00-$89,999.99		148		12,943,246		2.1
$	90,000.00-$94,999.99		106		9,792,199		1.6
$	95,000.00-$99,999.99		108		10,529,386		1.7
$100,000.00 and above			1,223		239,958,128		38.5

Total			18,680	$	624,011,251		100.0	%

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DISTRIBUTION OF THE TRUST STUDENT LOANS

BY DELINQUENCY STATUS AS OF THE

STATISTICAL DISCLOSURE DATE

Number of Days Delinquent	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
0-30 days		32,370	$	578,486,490		92.7	%
31-60 days		579		12,631,247		2.0
61-90 days		339		10,052,932		1.6
91-120 days		187		4,490,841		0.7
121-150 days		183		6,443,597		1.0
151-180 days		146		3,785,853		0.6
181-210 days		82		1,750,760		0.3
Greater than 210 days		318		6,369,531		1.0

Total		34,204	$	624,011,251		100.0	%

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DISTRIBUTION OF THE TRUST STUDENT LOANS

BY REMAINING TERM TO SCHEDULED MATURITY

AS OF THE STATISTICAL DISCLOSURE DATE

Number of Months Remaining to Scheduled Maturity	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
0 to 3		133	$	31,090		*
4 to12		1,705		1,268,825		0.2	%
13 to 24		2,457		3,596,792		0.6
25 to 36		1,779		4,958,746		0.8
37 to 48		1,620		6,976,419		1.1
49 to 60		1,319		7,238,479		1.2
61 to 72		2,726		16,033,327		2.6
73 to 84		1,980		15,683,188		2.5
85 to 96		1,494		15,375,941		2.5
97 to 108		1,486		18,018,423		2.9
109 to 120		1,650		24,767,899		4.0
121 to 132		3,964		67,954,641		10.9
133 to 144		2,614		58,113,856		9.3
145 to 156		1,948		50,067,600		8.0
157 to 168		1,650		49,234,134		7.9
169 to 180		1,175		39,715,127		6.4
181 to 192		916		36,090,191		5.8
193 to 204		801		32,300,293		5.2
205 to 216		494		20,272,460		3.2
217 to 228		401		16,167,897		2.6
229 to 240		340		16,037,130		2.6
241 to 252		240		11,972,245		1.9
253 to 264		172		8,656,329		1.4
265 to 276		134		6,978,413		1.1
277 to 288		142		7,119,328		1.1
289 to 300		219		17,966,647		2.9
301 to 312		412		46,236,169		7.4
313 to 324		44		4,124,713		0.7
325 to 336		35		3,070,848		0.5
337 to 348		33		2,676,650		0.4
349 to 360		73		11,578,507		1.9
361 and above		48		3,728,945		0.6

Total		34,204	$	624,011,251		100.0	%

*	Represents a percentage greater than 0% but less than 0.05%.

We have determined the number of months remaining to scheduled maturity shown in the table from the statistical disclosure date to the stated maturity date of the applicable trust student loan without giving effect to any deferment or forbearance periods that may be granted in the future. See Appendix A to the preliminary remarketing memorandum and “The Student Loan Pools – SLM Corporation’s Student Loan Financing Business” in the prospectus.

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DISTRIBUTION OF THE TRUST STUDENT LOANS

BY CURRENT BORROWER PAYMENT STATUS

AS OF THE STATISTICAL DISCLOSURE DATE

Current Borrower Payment Status	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Deferment		801	$	14,882,533		2.4	%
Forbearance		2,749		69,366,275		11.1
Repayment
First year in repayment		256		16,225,907		2.6
Second year in repayment		236		10,061,454		1.6
Third year in repayment		254		10,822,456		1.7
More than 3 years in repayment		29,908		502,652,626		80.6

Total		34,204	$	624,011,251		100.0	%

(1)Of the trust student loans in forbearance status, approximately 172 loans with an aggregate outstanding principal balance of $3,350,846, representing 0.54% of the pool by principal, are in the Coronavirus Disaster Forbearance Program.

Current borrower payment status refers to the status of the borrower of each trust student loan as of the statistical disclosure date. The borrower:

•

may have temporarily ceased repaying the loan through a deferment or a forbearance period; or

•

may be currently required to repay the loan – repayment.

See Appendix A to the preliminary remarketing memorandum and “The Student Loan Pools – SLM Corporation’s Student Loan Financing Business” in the prospectus.

The weighted average number of months in repayment for all trust student loans currently in repayment is approximately 149.4 calculated as the term to maturity at the commencement of repayment less the number of months remaining to scheduled maturity as of the statistical disclosure date.

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SCHEDULED WEIGHTED AVERAGE REMAINING MONTHS IN

STATUS OF THE TRUST STUDENT LOANS BY

CURRENT BORROWER PAYMENT STATUS AS OF THE

STATISTICAL DISCLOSURE DATE

	Scheduled Months in Status Remaining
Current Borrower Payment Status	Deferment		Forbearance		Repayment
Deferment		17.4		-		188.7
Forbearance		-		15.5		200.1
Repayment		-		-		171.8

We have determined the scheduled weighted average remaining months in status shown in the previous table without giving effect to any deferment or forbearance periods that may be granted in the future. Of the $14,882,533 aggregate outstanding principal balance of the trust student loans in deferment as of the statistical disclosure date, $10,262,992 or approximately 69.0% of such loans are to borrowers who had not graduated as of that date. We expect that a significant portion of these loans could qualify for additional deferments or forbearances at the end of their current deferment periods as the related borrowers continue their education beyond their current degree programs. As a result, the overall duration of any applicable deferment and forbearance periods as well as the likelihood of future deferment and forbearance periods within this pool of trust student loans is likely to be higher than in other pools of student loans without similar numbers of in-school consolidation loans. See Appendix A to the preliminary remarketing memorandum and “The Student Loan Pools – SLM Corporation’s Student Loan Financing Business” in the prospectus.

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GEOGRAPHIC DISTRIBUTION OF THE TRUST STUDENT LOANS

AS OF THE STATISTICAL DISCLOSURE DATE

State	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Alabama		309	$	5,682,164		0.9	%
Alaska		41		590,528		0.1
Arizona		732		16,340,589		2.6
Arkansas		197		3,661,618		0.6
California		3,616		75,035,390		12.0
Colorado		592		8,859,069		1.4
Connecticut		479		6,037,244		1.0
Delaware		115		2,713,435		0.4
District of Columbia		123		2,366,279		0.4
Florida		2,773		55,599,173		8.9
Georgia		1,043		25,956,366		4.2
Hawaii		138		2,345,341		0.4
Idaho		130		3,538,550		0.6
Illinois		1,366		23,861,123		3.8
Indiana		943		13,152,902		2.1
Iowa		136		2,453,671		0.4
Kansas		575		7,631,972		1.2
Kentucky		268		4,130,581		0.7
Louisiana		1,100		18,148,395		2.9
Maine		104		1,633,533		0.3
Maryland		763		15,112,292		2.4
Massachusetts		928		12,580,592		2.0
Michigan		687		13,803,379		2.2
Minnesota		358		7,703,372		1.2
Mississippi		293		5,859,513		0.9
Missouri		694		10,415,509		1.7
Montana		81		1,401,309		0.2
Nebraska		44		951,057		0.2
Nevada		221		3,654,241		0.6
New Hampshire		161		2,509,232		0.4
New Jersey		945		16,592,656		2.7
New Mexico		102		1,317,954		0.2
New York		2,244		39,133,226		6.3
North Carolina		780		15,415,114		2.5
North Dakota		23		310,200		*
Ohio		1,700		32,618,722		5.2
Oklahoma		657		10,738,726		1.7
Oregon		515		8,585,082		1.4
Pennsylvania		1,190		19,989,391		3.2
Rhode Island		77		1,288,272		0.2
South Carolina		384		8,997,236		1.4
South Dakota		45		539,689		0.1
Tennessee		708		15,385,051		2.5
Texas		2,946		50,803,417		8.1
Utah		122		2,380,600		0.4
Vermont		56		758,299		0.1
Virginia		909		15,963,165		2.6
Washington		929		14,523,459		2.3
West Virginia		148		1,617,363		0.3
Wisconsin		314		5,233,005		0.8
Wyoming		45		636,700		0.1
Other		355		7,455,504		1.2

Total		34,204	$	624,011,251		100.0	%

*	Represents a percentage greater than 0% but less than 0.05%.

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We have based the geographic distribution shown in the table on the billing addresses of the borrowers of the trust student loans shown on the servicer’s records as of the statistical disclosure date.

Each of the trust student loans provides or will provide for the amortization of its outstanding principal balance over a series of regular payments. Except as described below, each regular payment consists of an installment of interest which is calculated on the basis of the outstanding principal balance of the trust student loan. The amount received is applied first to interest accrued to the date of payment and the balance of the payment, if any, is applied to reduce the unpaid principal balance. Accordingly, if a borrower pays a regular installment before its scheduled due date, the portion of the payment allocable to interest for the period since the preceding payment was made will be less than it would have been had the payment been made as scheduled, and the portion of the payment applied to reduce the unpaid principal balance will be correspondingly greater. Conversely, if a borrower pays a monthly installment after its scheduled due date, the portion of the payment allocable to interest for the period since the preceding payment was made will be greater than it would have been had the payment been made as scheduled, and the portion of the payment applied to reduce the unpaid principal balance will be correspondingly less.

In either case, subject to any applicable deferment periods or forbearance periods, and except as provided below, the borrower pays a regular installment until the final scheduled payment date, at which time the amount of the final installment is increased or decreased as necessary to repay the then outstanding principal balance of that trust student loan.

The servicer makes available to borrowers of student loans it holds (including the trust student loans) payment terms that may result in the lengthening of the remaining term of the student loans. For example, not all of the loans sold to the trust provide for level payments throughout the repayment term of the loans. Some student loans provide for interest only payments to be made for a designated portion of the term of the loans, with amortization of the principal of the loans occurring only when payments increase in the latter stage of the term of the loans. Other loans provide for a graduated phase in of the amortization of principal with a greater portion of principal amortization being required in the latter stages than would be the case if amortization were on a level payment basis. The servicer also offers an income-sensitive repayment plan, under which repayments are based on the borrower’s income. Under that plan, ultimate repayment may be delayed up to five years. Borrowers under trust student loans will continue to be eligible for the graduated payment and income-sensitive repayment plans. These programs are applicable to the trust student loans and may be offered by the servicer to related borrowers at its discretion.

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The following table provides certain information about trust student loans subject to the repayment terms described in the preceding paragraphs.

DISTRIBUTION OF THE TRUST STUDENT LOANS BY REPAYMENT

TERMS AS OF THE STATISTICAL DISCLOSURE DATE

Loan Repayment Terms	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Level Repayment		17,872	$	259,719,976		41.6	%
Other Repayment Options⁽¹⁾		12,424		215,897,267		34.6
Income-driven Repayment⁽²⁾		3,908		148,394,008		23.8

Total		34,204	$	624,011,251		100.0	%

(1)	Includes, among others, graduated repayment and interest-only period loans.

(2)	Includes income sensitive and income based repayment.

With respect to interest-only loans, as of the statistical disclosure date, there are 170 loans with an aggregate outstanding principal balance of $7,805,033 currently in an interest-only period. These interest-only loans represent approximately 1.3% of the aggregate outstanding principal balance of the trust student loans. Interest-only periods range up to 48 months in overall length.

The servicer may in the future offer repayment terms similar to those described above to borrowers of trust student loans who are not entitled to these repayment terms as of the statistical disclosure date. If repayment terms are offered to and accepted by those borrowers, the weighted average life of the securities could be lengthened.

DISTRIBUTION OF THE TRUST STUDENT LOANS BY LOAN

TYPE AS OF THE STATISTICAL DISCLOSURE DATE

Loan Type	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Subsidized		16,391	$	229,387,115		36.8	%
Unsubsidized		17,813		394,624,135		63.2

Total		34,204	$	624,011,251		100.0	%

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The following table provides information about the trust student loans regarding date of disbursement.

DISTRIBUTION OF THE TRUST STUDENT LOANS

BY DATE OF DISBURSEMENT AS OF

THE STATISTICAL DISCLOSURE DATE

Disbursement Date	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
September 30, 1993 and earlier		83	$	5,092,998		0.8	%
October 1, 1993 through June 30, 2006		34,121		618,918,253		99.2
July 1, 2006 and later		0		0		0.0

Total		34,204	$	624,011,251		100.0	%

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Guaranty Agencies for the Trust Student Loans. The eligible lender trustee has entered into a separate guarantee agreement with each of the guaranty agencies listed below, under which each of the guarantors has agreed to serve as guarantor for specified trust student loans.

The following table provides information with respect to the portion of the trust student loans guaranteed by each guarantor.

DISTRIBUTION OF THE TRUST STUDENT LOANS

BY GUARANTY AGENCY AS OF

THE STATISTICAL DISCLOSURE DATE

Name of Guaranty Agency	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
American Student Assistance		1,260	$	16,989,742		2.7	%
College Assist		8		368,371		0.1
Educational Credit Management Corporation		2,934		41,736,256		6.7
Florida Off Of Student Fin'l Assistance		984		11,834,810		1.9
Great Lakes Higher Education Corporation		16,926		365,119,117		58.5
Kentucky Higher Educ. Asst. Auth.		822		10,120,158		1.6
Michigan Guaranty Agency		352		5,000,547		0.8
Oklahoma Guaranteed Stud Loan Prog		561		8,277,275		1.3
Pennsylvania Higher Education Assistance Agency		2,912		39,731,354		6.4
Texas Guaranteed Student Loan Corp		7,445		124,833,621		20.0
Total		34,204	$	624,011,251		100.0	%

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DELAWARE	333-104887/ 333-1049887-09	04-3480392
(State or other jurisdiction of formation)	(Commission File Numbers)	(I.R.S. Employer Identification Number)

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Not Applicable	Not Applicable	Not Applicable

	SLM STUDENT LOAN TRUST 2004-10

	By: NAVIENT SOLUTIONS, LLC, in its capacity as administrator of the Trust

Dated: January 12, 2024	By: /s/ C. Scott Booher

	Name:	C. Scott Booher
	Title:	Vice President

Exhibit Number	Description

99.1	Tables Showing SLM Student Loan Trust 2004-10 Pool Information as of November 30, 2023.