EX-19.1 3 a2113063zex-19_1.htm EXHIBIT 19.1

SLM Student Loan Trust 2002-4

Quarterly Servicing Report
Report Date:		5/31/2003		Reporting Period: 3/1/03-5/31/03

I. Deal Parameters

	Student Loan Portfolio Characteristics		2/28/2003			Activity			5/31/2003
A	i	Portfolio Balance	$	1,233,492,326.91		$	(56,135,314.48	)	$	1,177,357,012.43
	ii	Interest to be Capitalized		19,747,961.88						20,813,559.83

	iii	Total Pool	$	1,253,240,288.79					$	1,198,170,572.26
	iv	Specified Reserve Account Balance		3,133,100.72						2,995,426.43

	v	Total Adjusted Pool	$	1,256,373,389.51					$	1,201,165,998.69

B	i	Weighted Average Coupon (WAC)		3.944	%					3.941	%
	ii	Weighted Average Remaining Term		118.75						116.91
	iii	Number of Loans		361,178						348,107
	iv	Number of Borrowers		199,161						192,391
	v	Aggregate Outstanding Principal Balance—T-Bill	$	265,477,850.00					$	252,683,977.58
	vi	Aggregate Outstanding Principal Balance— Commercial Paper	$	987,762,438.79					$	945,486,594.68

	Notes and Certificates			Spread		Balance 03/17/03		% of O/S Securities		Balance 6/16/03		% of O/S Securities
C	i	A-1 Notes	78442GDU7	0.000	%	$	68,282,807.57	5.403	%	$	7,134,786.15	0.593	%
	ii	A-2 Notes	78442GDV5	0.030	%		397,000,000.00	31.415	%		397,000,000.00	33.012	%
	iii	A-3 Notes	78442GDW3	0.080	%		280,000,000.00	22.157	%		280,000,000.00	23.283	%
	iv	A-4 Notes	78442GDX1	0.140	%		472,480,000.00	37.388	%		472,480,000.00	39.288	%
	v	B Notes	78442GDY9	0.360	%		45,973,000.00	3.638	%		45,973,000.00	3.823	%

	vi	Total Notes				$	1,263,735,807.57	100.000	%	$	1,202,587,786.15	100.000	%

	Reserve Account		3/17/2003			6/16/2003
D	i	Required Reserve Acct Deposit (%)		0.25	%		0.25	%
	ii	Reserve Acct Initial Deposit ($)
	iii	Specified Reserve Acct Balance ($)	$	3,133,100.72		$	2,995,426.43
	iv	Reserve Account Floor Balance ($)	$	1,503,142.00		$	1,503,142.00
	v	Current Reserve Acct Balance ($)	$	3,133,100.72		$	2,995,426.43

II. 2002-4 Transactions from: 3/1/2003 through: 5/31/2003

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	32,844,858.35
	ii	Principal Collections from Guarantor		6,803,688.09
	iii	Principal Reimbursements		19,883,518.50
	iv	Other System Adjustments		0.00

	v	Total Principal Collections	$	59,532,064.94
B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	332,096.38
	ii	Capitalized Interest		(3,728,846.84	)

	iii	Total Non-Cash Principal Activity	$	(3,396,750.46	)
C	Total Student Loan Principal Activity		$	56,135,314.48

D	Student Loan Interest Activity
	i	Regular Interest Collections	$	4,535,634.51
	ii	Interest Claims Received from Guarantors		261,975.47
	iii	Collection Fees		28,143.34
	iv	Late Fee Reimbursements		177,124.75
	v	Interest Reimbursements		175,979.71
	vi	Other System Adjustments		0.00
	vii	Special Allowance Payments		62,623.28
	viii	Subsidy Payments		3,116,670.84

	ix	Total Interest Collections	$	8,358,151.90
E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustment	$	(165,434.18	)
	ii	Capitalized Interest		3,728,846.84

	iii	Total Non-Cash Interest Adjustments	$	3,563,412.66
F	Total Student Loan Interest Activity		$	11,921,564.56

G.	Non-Reimbursable Losses During Collection Period		$	122,224.79
H.	Cumulative Non-Reimbursable Losses to Date		$	271,416.13

III. 2002-4 Collection Account Activity 3/1/2003 through 5/31/2003

A	Principal Collections
	i	Principal Payments Received—Cash	$	21,552,217.37
	ii	Cash Consolidation Principal Payments	$	18,096,329.07
	iii	Cash Forwarded by Administrator on behalf of Seller		326,747.59
	iv	Cash Forwarded by Administrator on behalf of Servicer		10,793.98
	v	Cash Forwarded by Administrator for Consolidation Activity		19,545,976.93

	vi	Total Principal Collections	$	59,532,064.94
B	Interest Collections
	i	Interest Payments Received—Cash	$	7,754,619.21
	ii	Cash Consolidation Interest Payments	$	222,284.89
	iii	Cash Forwarded by Administrator on behalf of Seller		5,951.29
	iv	Cash Forwarded by Administrator on behalf of Servicer		858.13
	v	Cash Forwarded by Administrator for Consolidation Activity		169,170.29
	vi	Collection Fees		28,143.34
	vii	Cash Forwarded by Administrator for Late Fee Activity		177,124.75

	viii	Total Interest Collections	$	8,358,151.90
C	Other Reimbursements		$	14,701.69
D	Administrator Account Investment Income		$	49,418.22
E	Return funds borrowed for previous distribution		$	—
	TOTAL FUNDS RECEIVED		$	67,954,336.75
	LESS FUNDS PREVIOUSLY REMITTED: Servicing Fees		$	(1,831,383.31	)

F	TOTAL FUNDS TRANSFERRED TO COLLECTION ACCOUNT		$	66,122,953.44

G	Servicing Fees Due for Current Period		$	891,421.41

Less:

Servicing ADJ [A iv + B iv]

(11,652.11

)

Carryover Servicing Fees Due

—

I	Administration Fees Due	$	20,000.00

J	Total Fees Due for Period	$	899,769.30

IV. 2002-4 Portfolio Characteristics

			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			2/28/2003		5/31/2003		2/28/2003	5/31/2003	2/28/2003		5/31/2003		2/28/2003		5/31/2003		2/28/2003		5/31/2003
INTERIM:
	In School
		Current	3.465	%	3.465	%	92,558	71,974	25.627	%	20.676	%	$	356,984,339.80	$	271,516,604.65	28.941	%	23.062	%
	Grace
		Current	3.466	%	3.465	%	21,403	35,338	5.926	%	10.151	%	$	74,569,294.04	$	136,929,208.70	6.045	%	11.630	%

TOTAL INTERIM			3.465	%	3.465	%	113,961	107,312	31.553	%	30.827	%	$	431,553,633.84	$	408,445,813.35	34.986	%	34.692	%

REPAYMENT
	Active
		Current	4.377	%	4.370	%	119,720	117,100	33.147	%	33.638	%	$	423,618,364.69	$	398,288,580.11	34.344	%	33.830	%
		31-60 Days Delinquent	4.264	%	4.281	%	9,795	10,595	2.712	%	3.044	%	$	30,913,573.88	$	32,120,926.78	2.506	%	2.728	%
		61-90 Days Delinquent	4.165	%	4.223	%	8,539	6,091	2.364	%	1.750	%	$	27,510,768.64	$	17,410,948.06	2.230	%	1.479	%
		91-120 Days Delinquent	4.171	%	4.250	%	4,661	3,598	1.290	%	1.034	%	$	12,877,628.28	$	10,359,983.81	1.044	%	0.880	%
		› 120 Days Delinquent	4.162	%	4.148	%	15,453	12,901	4.278	%	3.706	%	$	36,329,212.22	$	33,500,012.29	2.945	%	2.845	%
Deferment
	Current		3.565	%	3.564	%	35,045	32,942	9.703	%	9.463	%	$	103,776,608.50	$	99,218,174.36	8.413	%	8.427	%
Forbearance
	Current		4.203	%	4.181	%	52,149	55,506	14.439	%	15.945	%	$	162,497,525.02	$	173,211,876.98	13.174	%	14.712	%

TOTAL REPAYMENT			4.211	%	4.204	%	245,362	238,733	67.933	%	68.580	%	$	797,523,681.23	$	764,110,502.39	64.656	%	64.901	%

	Claims in Process (1)		4.203	%	4.203	%	1,855	2,060	0.514	%	0.592	%	$	4,415,011.84	$	4,797,235.50	0.358	%	0.407	%
	Aged Claims Rejected (2)				4.060	%		2	0.000	%	0.001	%			$	3,461.19	0.000	%	0.000	%

GRAND TOTAL			3.944	%	3.941	%	361,178	348,107	100.000	%	100.000	%	$	1,233,492,326.91	$	1,177,357,012.43	100.000	%	100.000	%

(1): Claims filed and unpaid; includes claims rejected aged less than 6 months.
(2): Claims rejected (subject to cure) aged 6 months or more; also includes claims deemed incurable pending repurchase.
*: Percentages may not total 100% due to rounding.

V. 2002-4 Portfolio Characteristics by School and Program

LOAN TYPE	WAC		# Loans	$ Amount		%
GSL—Subsidized	3.771	%	191,599	$	553,066,229.52	46.975	%
GSL—Unsubsidized	3.759	%	123,972		430,054,251.69	36.527	%
PLUS Loans	4.865	%	31,981		192,428,040.54	16.344	%
SLS Loans	5.307	%	555		1,808,490.68	0.154	%
Total	3.941	%	348,107	$	1,177,357,012.43	100.000	%
SCHOOL TYPE	WAC		# Loans	$ Amount		%
Four Year	3.898	%	249,127	$	925,198,969.75	78.583	%
Two Year	4.115	%	12		50,537.04	0.004	%
Technical	4.196	%	37,945		102,616,711.15	8.716	%
Other	4.087	%	61,023		149,490,794.49	12.697	%
Total	3.941	%	348,107	$	1,177,357,012.43	100.000	%

*: Percentages may not total 100% due to rounding.

VI. 2002-4 Expected Interest Calculation and Interest Rate Cap Payments

			Cap
A	Borrower Interest Accrued During Collection Period		$	9,317,399.61
B	Interest Subsidy Payments Accrued During Collection Period			1,682,712.85
C	SAP Payments Accrued During Collection Period			0.00
D	INV Earnings Accrued for Collection Period (RESERVE, COLLECTION)			103,937.39
E	Investment Earnings (ADMINISTRATOR ACCOUNTS)			49,418.22

F	Net Expected Interest Collections		$	11,153,468.07
G	Interest Rate Cap Payments Due to the Trust
	i	Cap Notional Amount		50,000,000
	ii	Libor		1.25875%
	iii	Cap %		4.00000%
	iv	Excess Over Cap (ii-iii)		0.00000%
	v	Cap Payments Due to the Trust	$	0.00

VII. 2002-4 Accrued Interest Factors

		Accrued Int Factor	Accrual Period	Rate
A	Class A-1 Interest Rate	0.003181840	(3/17/03-6/16/03)	1.25875	%
B	Class A-2 Interest Rate	0.003257674	(3/17/03-6/16/03)	1.28875	%
C	Class A-3 Interest Rate	0.003384063	(3/17/03-6/16/03)	1.33875	%
D	Class A-4 Interest Rate	0.003535729	(3/17/03-6/16/03)	1.39875	%
E	Class B Interest Rate	0.004091840	(3/17/03-6/16/03)	1.61875	%

VIII. 2002-4 Input from Previous Quarterly Servicing Report 2/28/03

A	Total Student Loan Pool Outstanding
	i	Portfolio Balance	$	1,233,492,326.91
	ii	Interest To Be Capitalized		19,747,961.88

	iii	Total Pool	$	1,253,240,288.79
	iv	Specified Reserve Account Balance		3,133,100.72

	v	Total Adjusted Pool	$	1,256,373,389.51

B	Total Note and Certificate Factor			0.82464898276
C	Total Note Balance		$	1,263,735,807.57

D	Note Balance 3/17/2003		Class A-1		Class A-2		Class A-3		Class A-4		Class B
	i	Current Factor		0.2026196070		1.0000000000		1.0000000000		1.0000000000		1.0000000000
	ii	Expected Note Balance	$	68,282,807.57	$	397,000,000.00	$	280,000,000.00	$	472,480,000.00	$	45,973,000.00

E	Note Principal Shortfall		$	7,362,418.06	$	0.00	$	0.00	$	0.00	$	0.00
F	Interest Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
G	Interest Carryover		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

H	Reserve Account Balance										$	3,133,100.72
I	Unpaid Primary Servicing Fees from Prior Month(s)										$	0.00
J	Unpaid Administration fees from Prior Quarter(s)										$	0.00
K	Unpaid Carryover Servicing Fees from Prior Quarter(s)										$	0.00
L	Interest Due on Unpaid Carryover Servicing Fees										$	0.00

IX. 2002-4 Waterfall for Distributions

					Remaining Funds Balance
A	Total Available Funds (Sections III-F + VI-D + VI-G-v + X-G-vii)		$	66,364,565.12	$	66,364,565.12
B	Primary Servicing Fees—Current Month		$	879,769.30	$	65,484,795.82
C	Administration Fee		$	20,000.00	$	65,464,795.82
D	Noteholder's Interest Distribution Amount
	i	Class A-1	$	217,264.99	$	65,247,530.83
	ii	Class A-2	$	1,293,296.42	$	63,954,234.41
	iii	Class A-3	$	947,537.50	$	63,006,696.91
	iv	Class A-4	$	1,670,561.32	$	61,336,135.59
	v	Class B	$	188,114.17	$	61,148,021.42

	vi	Total Noteholder's Interest Distribution	$	4,316,774.40
E	Noteholder's Principal Distribution Amount Paid
	i	Class A-1	$	61,148,021.42	$	(0.00	)
	ii	Class A-2	$	0.00	$	(0.00	)
	iii	Class A-3	$	0.00	$	(0.00	)
	iv	Class A-4	$	0.00	$	(0.00	)
	v	Class B	$	0.00	$	(0.00	)

	vi	Total Noteholder's Principal Distribution	$	61,148,021.42
F	Increase to the Specified Reserve Account Balance		$	0.00	$	(0.00	)
G	Carryover Servicing Fees		$	0.00	$	(0.00	)
H	Noteholder's Interest Carryover
	i	Class A-1	$	0.00	$	0.00
	ii	Class A-2	$	0.00	$	0.00
	iii	Class A-3	$	0.00	$	0.00
	iv	Class A-4	$	0.00	$	0.00
	v	Class B	$	0.00	$	0.00

	vi	Total Noteholder's Interest Carryover	$	0.00
I	Excess to Reserve Account		$	0.00	$	0.00

X. 2002-4 Distributions

A	Distribution Amounts		Class A-1		Class A-2		Class A-3		Class A-4		Class B
	i	Quarterly Interest Due	$	217,264.99	$	1,293,296.42	$	947,537.50	$	1,670,561.32	$	188,114.17
	ii	Quarterly Interest Paid		217,264.99		1,293,296.42	$	947,537.50	$	1,670,561.32		188,114.17

	iii	Interest Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	iv	Interest Carryover Due	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	v	Interest Carryover Paid		0.00		0.00		0.00		0.00		0.00

	vi	Interest Carryover	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	vii	Quarterly Principal Due	$	62,569,808.88	$	0.00	$	0.00	$	0.00	$	0.00
	viii	Quarterly Principal Paid		61,148,021.42		0.00		0.00		0.00		0.00

	ix	Quarterly Principal Shortfall	$	1,421,787.46	$	0.00	$	0.00	$	0.00	$	0.00

	x	Total Distribution Amount	$	61,365,286.41	$	1,293,296.42	$	947,537.50	$	1,670,561.32	$	188,114.17

B	Principal Distribution Reconciliation
	i	Notes Outstanding Principal Balance 5/31/03	$	1,263,735,807.57
	ii	Adjusted Pool Balance 5/31/03		1,201,165,998.69

	iii	Adjusted Pool Exceeding Notes Balance (i-ii)	$	62,569,808.88

	iv	Adjusted Pool Balance 2/28/03	$	1,256,373,389.51
	v	Adjusted Pool Balance 5/31/03		1,201,165,998.69

	vi	Current Principal Due (iv-v)	$	55,207,390.82
	vii	Principal Shortfall from previous Collection Period		7,362,418.06

	viii	Principal Distribution Amount (vi + vii)	$	62,569,808.88

	ix	Principal Distribution Amount Paid	$	61,148,021.42
	x	Principal Shortfall (viii-ix)	$	1,421,787.46
C		Total Principal Distribution	$	61,148,021.42
D		Total Interest Distribution		4,316,774.40

E		Total Cash Distributions	$	65,464,795.82

F	Note Balances			3/17/2003		6/16/2003
	i	A-1 Note Balance	78442GDU7	$	68,282,807.57	$	7,134,786.15
		A-1 Note Pool Factor			0.2026196070		0.0211714723
	ii	A-2 Note Balance	78442GDV5	$	397,000,000.00	$	397,000,000.00
		A-2 Note Pool Factor			1.0000000000		1.0000000000
	iii	A-3 Note Balance	78442GDW3	$	280,000,000.00	$	280,000,000.00
		A-3 Note Pool Factor			1.0000000000		1.0000000000
	iv	A-4 Note Balance	78442GDX1	$	472,480,000.00	$	472,480,000.00
		A-4 Note Pool Factor			1.0000000000		1.0000000000
	v	B Note Balance	78442GDY9	$	45,973,000.00	$	45,973,000.00
		B Note Pool Factor			1.0000000000		1.0000000000

G	Reserve Account Reconciliation
	i	Beginning of Period Balance	$	3,133,100.72
	ii	Deposits to correct Shortfall	$	—
	iii	Deposits from Excess Servicing	$	—

	iv	Total Reserve Account Balance Available	$	3,133,100.72
	v	Required Reserve Account Balance	$	2,995,426.43
	vi	Shortfall Carried to Next Period	$	—
	vii	Excess Reserve — Release to Waterfall	$	137,674.29
	viii	Ending Reserve Account Balance	$	2,995,426.43

XI. 2002-4 Historical Pool Information

			3/1/03-5/31/03			12/1/02-2/28/03			9/1/02-11/30/02			7/9/02-8/31/02
Beginning Student Loan Portfolio Balance			$	1,233,492,326.91		$	1,318,637,823.20		$	1,405,834,344.24		$	1,477,360,738.22

	Student Loan Principal Activity
i		Regular Principal Collections	$	32,844,858.35		$	33,952,525.56		$	36,780,836.76		$	51,891,697.99
ii		Principal Collections from Guarantor		6,803,688.09			7,605,002.78			1,567,269.35			814,084.96
iii		Principal Reimbursements		19,883,518.50			48,016,037.60			57,407,047.39			27,218,442.44
iv		Other System Adjustments		—			—			—			—

v		Total Principal Collections	$	59,532,064.94		$	89,573,565.94		$	95,755,153.50		$	79,924,225.39
	Student Loan Non-Cash Principal Activity
i		Other Adjustments	$	332,096.38		$	469,909.89		$	366,027.98		$	364,510.51
ii		Capitalized Interest		(3,728,846.84	)		(4,897,979.54	)		(8,924,660.44	)		(8,762,341.92	)

iii		Total Non-Cash Principal Activity	$	(3,396,750.46	)	$	(4,428,069.65	)	$	(8,558,632.46	)	$	(8,397,831.41	)

(-) Total Student Loan Principal Activity			$	56,135,314.48		$	85,145,496.29		$	87,196,521.04		$	71,526,393.98

	Student Loan Interest Activity
i		Regular Interest Collections	$	4,535,634.51		$	4,870,982.99		$	5,141,001.78		$	8,731,142.33
ii		Interest Claims Received from Guarantors		261,975.47			345,534.53			46,578.91			11,721.23
iii		Collection Fees		28,143.34			22,613.29			13,142.18			3,599.91
iv		Late Fee Reimbursements		177,124.75			170,338.09			163,371.22			193,615.72
v		Interest Reimbursements		175,979.71			487,965.53			1,152,348.56			346,774.65
vi		Other System Adjustments		—			—			—			—
vii		Special Allowance Payments		62,623.28			355,056.67			—			—
viii		Subsidy Payments		3,116,670.84			3,381,315.35			2,559,624.10			—

ix		Total Interest Collections	$	8,358,151.90		$	9,633,806.45		$	9,076,066.75		$	9,286,853.84
	Student Loan Non-Cash Interest Activity
i		Interest Accrual Adjustment	$	(165,434.18	)	$	(325,167.39	)	$	(325,239.64	)	$	(302,561.26	)
ii		Capitalized Interest		3,728,846.84			4,897,979.54			8,924,660.44			8,762,341.92

iii		Total Non-Cash Interest Adjustments	$	3,563,412.66		$	4,572,812.15		$	8,599,420.80		$	8,459,780.66

	Total Student Loan Interest Activity		$	11,921,564.56		$	14,206,618.60		$	17,675,487.55		$	17,746,634.50
(=) Ending Student Loan Portfolio Balance			$	1,177,357,012.43		$	1,233,492,326.91		$	1,318,637,823.20		$	1,405,834,344.24

(+) Interest to be Capitalized			$	20,813,559.83		$	19,747,961.88		$	19,927,314.27		$	24,858,533.05

(=) TOTAL POOL			$	1,198,170,572.26		$	1,253,240,288.79		$	1,338,565,137.47		$	1,430,692,877.29

(+) Reserve Account Balance			$	2,995,426.43		$	3,133,100.72		$	3,346,412.84		$	3,576,732.19

(=) Total Adjusted Pool			$	1,201,165,998.69		$	1,256,373,389.51		$	1,341,911,550.31		$	1,434,269,609.48

XII. 2002-4 Payment History and CPRs

Distribution Date	Actual Pool Balances		Since Issued CPR *
Sep-02	$	1,430,692,877	12.31	%
Dec-02	$	1,338,565,137	15.82	%
Mar-03	$	1,253,240,289	16.71	%
Jun-03	$	1,198,170,572	15.48	%

*: "Since Issued CPR" is based on the current period's ending pool balance calculated against the original pool balance and assuming cutoff date pool data.

SLM Student Loan Trust 2002-5

Quarterly Servicing Report
Report Date:		5/31/2003		Reporting Period: 03/01/03-05/31/03

I. Deal Parameters

	Student Loan Portfolio Characteristics		2/28/03			Activity			5/31/2003
A	i	Portfolio Balance	$	1,174,882,566.16		$	(43,204,558.53	)	$	1,131,678,007.63
	ii	Interest to be Capitalized		19,456,760.99						21,137,091.54

	iii	Total Pool	$	1,194,339,327.15					$	1,152,815,099.17
	iv	Specified Reserve Account Balance		2,985,848.32						2,882,037.75

	v	Total Adjusted Pool	$	1,197,325,175.47					$	1,155,697,136.92

B	i	Weighted Average Coupon (WAC)		3.827	%					3.824	%
	ii	Weighted Average Remaining Term		125.24						122.99
	iii	Number of Loans		357,094						345,991
	iv	Number of Borrowers		204,638						199,255
	v	Aggregate Outstanding Principal Balance—T-Bill	$	209,446,796.52					$	193,453,413.80
	vi	Aggregate Outstanding Principal Balance—Commercial Paper	$	984,892,530.63					$	959,361,685.37

	Notes			Spread		Balance 03/17/03		% of O/S Securities		Balance 06/16/03		% of O/S Securities
C	i	A-1 Notes	78442GDZ6	0.000	%	$	96,460,452.20	8.028	%	$	50,697,136.92	4.387	%
	ii	A-2 Notes	78442GEA0	0.030	%		355,750,000.00	29.610	%		355,750,000.00	30.782	%
	iii	A-3 Notes	78442GEB8	0.100	%		226,500,000.00	18.852	%		226,500,000.00	19.599	%
	iv	A-4L Notes	78442GEC6	0.150	%		182,750,000.00	15.211	%		182,750,000.00	15.813	%
	v	A-4CP Notes	78442GED4	0.230	%		300,000,000.00	24.970	%		300,000,000.00	25.958	%
	vi	B Notes	78442GEE2	0.430	%		40,000,000.00	3.329	%		40,000,000.00	3.461	%

	vii	Total Notes				$	1,201,460,452.20	100.000	%	$	1,155,697,136.92	100.000	%

	Reserve Account		3/17/2003			6/16/2003
D	i	Required Reserve Acct Deposit (%)		0.25	%		0.25	%
	ii	Reserve Acct Initial Deposit ($)
	iii	Specified Reserve Acct Balance ($)	$	2,985,848.32		$	2,882,037.75
	iv	Reserve Account Floor Balance ($)	$	1,325,707.00		$	1,325,707.00
	v	Current Reserve Acct Balance ($)	$	2,985,848.32		$	2,882,037.75

II. 2002-5 Transactions from: 2/28/2003 through: 5/31/2003

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	27,223,604.35
	ii	Principal Collections from Guarantor		3,685,597.33
	iii	Principal Reimbursements		14,482,594.42
	iv	Other System Adjustments		0.00

	v	Total Principal Collections	$	45,391,796.10
B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	148,146.57
	ii	Capitalized Interest		(2,335,384.14	)

	iii	Total Non-Cash Principal Activity	$	(2,187,237.57	)
C	Total Student Loan Principal Activity		$	43,204,558.53

D	Student Loan Interest Activity
	i	Regular Interest Collections	$	3,293,539.01
	ii	Interest Claims Received from Guarantors		188,011.71
	iii	Collection Fees/Return Items		15,817.91
	iv	Late Fee Reimbursements		110,133.12
	v	Interest Reimbursements		136,235.01
	vi	Other System Adjustments		0.00
	vii	Special Allowance Payments		30,216.60
	viii	Subsidy Payments		4,176,093.80

	ix	Total Interest Collections	$	7,950,047.16
E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustment	$	(91,310.97	)
	ii	Capitalized Interest		2,335,384.14

	iii	Total Non-Cash Interest Adjustments	$	2,244,073.17
F	Total Student Loan Interest Activity		$	10,194,120.33

G.	Non-Reimbursable Losses During Collection Period		$	54,083.04
H.	Cumulative Non-Reimbursable Losses to Date		$	66,566.21

III. 2002-5 Collection Account Activity 2/28/2003 through 5/31/2003

A	Principal Collections
	i	Principal Payments Received—Cash	$	16,964,454.60
	ii	Cash Consolidation Principal Payments	$	13,944,747.08
	iii	Cash Forwarded by Administrator on behalf of Seller		906,513.85
	iv	Cash Forwarded by Administrator on behalf of Servicer		28,018.08
	v	Cash Forwarded by Administrator for Consolidation Activity		13,548,062.49

	vi	Total Principal Collections	$	45,391,796.10
B	Interest Collections
	i	Interest Payments Received—Cash	$	7,531,030.44
	ii	Cash Consolidation Interest Payments	$	156,830.68
	iii	Cash Forwarded by Administrator on behalf of Seller		18,407.46
	iv	Cash Forwarded by Administrator on behalf of Servicer		1,924.23
	v	Cash Forwarded by Administrator for Consolidation Activity		115,903.32
	vi	Collection Fees/Return Items		15,817.91
	vii	Cash Forwarded by Administrator for Late Fee Activity		110,133.12

	viii	Total Interest Collections	$	7,950,047.16
C	Other Reimbursements		$	20,304.14
D	Administrator Account Investment Income		$	34,478.25
E	Return funds borrowed for previous distribution		$	—
	TOTAL FUNDS RECEIVED		$	53,396,625.65
	LESS FUNDS PREVIOUSLY REMITTED: Servicing Fees		$	(1,747,946.00	)

F	TOTAL FUNDS TRANSFERRED TO COLLECTION ACCOUNT		$	51,648,679.65

G	Servicing Fees Due for Current Period		$	855,872.98

Less:

Servicing ADJ [A iv + B iv]

(29,942.31

)

Carryover Servicing Fees Due

—

I	Administration Fees Due	$	20,000.00

J	Total Fees Due for Period	$	845,930.67

IV. 2002-5 Portfolio Characteristics

			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			2/28/2003		5/31/2003		2/28/2003	5/31/2003	2/28/2003		5/31/2003		2/28/2003		5/31/2003		2/28/2003		5/31/2003
INTERIM:
	In School
		Current	3.460	%	3.460	%	161,627	128,683	45.262	%	37.193	%	$	590,378,268.99	$	455,225,016.66	50.250	%	40.224	%
	Grace
		Current	3.460	%	3.460	%	35,634	55,972	9.979	%	16.177	%	$	122,430,021.63	$	215,675,734.32	10.421	%	19.057	%

TOTAL INTERIM			3.460	%	3.460	%	197,261	184,655	55.241	%	53.370	%	$	712,808,290.62	$	670,900,750.98	60.670	%	59.281	%

REPAYMENT
	Active
		Current	4.550	%	4.530	%	99,536	98,640	27.874	%	28.509	%	$	282,950,665.88	$	272,863,726.77	24.084	%	24.110	%
		31-60 Days Delinquent	4.441	%	4.437	%	5,970	6,863	1.672	%	1.984	%	$	16,902,602.47	$	19,799,105.39	1.439	%	1.749	%
		61-90 Days Delinquent	4.232	%	4.368	%	5,486	3,822	1.536	%	1.105	%	$	15,969,969.13	$	10,862,984.86	1.359	%	0.960	%
		91-120 Days Delinquent	4.382	%	4.427	%	1,765	1,901	0.494	%	0.549	%	$	4,825,611.08	$	5,425,124.92	0.411	%	0.479	%
		› 120 Days Delinquent	4.469	%	4.295	%	6,921	6,442	1.938	%	1.862	%	$	17,267,114.49	$	16,455,326.59	1.470	%	1.454	%
Deferment
	Current		3.705	%	3.675	%	17,176	17,641	4.810	%	5.099	%	$	51,576,666.68	$	53,560,830.66	4.390	%	4.733	%
Forbearance
	Current		4.360	%	4.274	%	22,211	25,039	6.220	%	7.237	%	$	70,480,260.48	$	79,388,261.58	5.999	%	7.015	%

TOTAL REPAYMENT			4.407	%	4.368	%	159,065	160,348	44.544	%	46.345	%	$	459,972,890.21	$	458,355,360.77	39.151	%	40.500	%

	Claims in Process (1)		4.571	%	4.538	%	766	985	0.215	%	0.285	%	$	2,099,764.71	$	2,468,219.76	0.179	%	0.218	%
	Aged Claims Rejected (2)		4.060	%	4.060	%	2	3	0.001	%	0.001	%	$	1,620.62	$	3,676.12	0.000	%	0.000	%

GRAND TOTAL			3.827	%	3.824	%	357,094	345,991	100.000	%	100.000	%	$	1,174,882,566.16	$	1,131,728,007.63	100.000	%	100.000	%

(1): Claims filed and unpaid; includes claims rejected aged less than 6 months.
(2): Claims rejected (subject to cure) aged 6 months or more; also includes claims deemed incurable pending repurchase.
*: Percentages may not total 100% due to rounding.

V. 2002-5 Portfolio Characteristics by School and Program

LOAN TYPE	WAC		# Loans	$ Amount		%
GSL—Unsubsidized	3.645	%	116,006	$	433,999,852.84	38.350	%
GSL—Subsidized	3.806	%	212,314		609,417,315.71	53.851	%
PLUS Loans	4.910	%	17,665		88,237,311.13	7.797	%
SLS Loans	5.315	%	6		23,527.95	0.002	%
Total	3.824	%	345,991	$	1,131,678,007.63	100.000	%
SCHOOL TYPE	WAC		# Loans	$ Amount		%
Four Year	3.799	%	283,972	$	983,700,042.96	86.924	%
Two Year	3.977	%	42,368		96,354,968.22	8.514	%
Technical	4.143	%	19,512		51,319,026.64	4.535	%
Other	5.389	%	139		303,969.81	0.027	%
Total	3.824	%	345,991	$	1,131,678,007.63	100.000	%

*: Percentages may not total 100% due to rounding.

VI. 2002-5 Expected Interest Calculation

A	Borrower Interest Accrued During Collection Period	$	7,430,284.51
B	Interest Subsidy Payments Accrued During Collection Period		0.00
C	SAP Payments Accrued During Collection Period		0.00
D	INV Earnings Accrued for Collection Period (RESERVE, COLLECTION)		75,318.04
E	Investment Earnings (ADMINISTRATOR ACCOUNTS)		34,478.25

F	Net Expected Interest Collections	$	7,540,080.80

VII. 2002-5 Accrued Interest Factors

		Accrued Int Factor	Accrual Period	Rate
A	Class A-1 Interest Rate	0.003181840	(03/17/03 - 06/16/03)	1.25875	%
B	Class A-2 Interest Rate	0.003257673	(03/17/03 - 06/16/03)	1.28875	%
C	Class A-3 Interest Rate	0.003434618	(03/17/03 - 06/16/03)	1.35875	%
D	Class A-4L Interest Rate	0.003561007	(03/17/03 - 06/16/03)	1.40875	%
E	Class A-4CP Interest Rate	0.003633498	(03/17/03 - 06/16/03)	1.45739	%
F	Class B Interest Rate	0.004268784	(03/17/03 - 06/16/03)	1.68875	%

VIII. 2002-5 Inputs From Original Data 2/28/03

A	Total Student Loan Pool Outstanding
	i	Portfolio Balance	$	1,174,882,566.16
	ii	Interest To Be Capitalized		19,456,760.99

	iii	Total Pool	$	1,194,339,327.15
	iv	Specified Reserve Account Balance		2,985,848.32

	v	Total Adjusted Pool	$	1,197,325,175.47

B	Total Note and Certificate Factor			0.89728189111
C	Total Note Balance		$	1,201,460,452.20

D	Note Balance 3/17/2003		Class A-1		Class A-2		Class A-3		Class A-4L		Class A-4CP		Class B
	i	Current Factor		0.4122241547		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000
	ii	Expected Note Balance	$	96,460,452.20	$	355,750,000.00	$	226,500,000.00	$	182,750,000.00	$	300,000,000.00	$	40,000,000.00

E	Note Principal Shortfall		$	4,135,276.73	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
F	Interest Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
G	Interest Carryover		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

H	Reserve Account Balance												$	2,985,848.32
I	Unpaid Primary Servicing Fees from Prior Month(s)												$	0.00
J	Unpaid Administration fees from Prior Quarter(s)												$	0.00
K	Unpaid Carryover Servicing Fees from Prior Quarter(s)												$	0.00
L	Interest Due on Unpaid Carryover Servicing Fees												$	0.00

IX. 2002-5 Waterfall for Distributions

					Remaining Funds Balance
A	Total Available Funds (Sections III-F + VI-D + X-G-vii)		$	51,723,997.69	$	51,723,997.69
B	Primary Servicing Fees—Current Month		$	825,930.67	$	50,898,067.02
C	Administration Fee		$	20,000.00	$	50,878,067.02
D	Noteholder's Interest Distribution Amount
	i	Class A-1	$	306,921.73	$	50,571,145.29
	ii	Class A-2	$	1,158,917.39	$	49,412,227.90
	iii	Class A-3	$	777,940.93	$	48,634,286.97
	iv	Class A-4L	$	650,773.97	$	47,983,513.00
	v	Class A-4CP	$	1,090,049.40	$	46,893,463.60
	vi	Class B	$	170,751.39	$	46,722,712.21

	vii	Total Noteholder's Interest Distribution	$	4,155,354.81
E	Noteholder's Principal Distribution Amount Paid
	i	Class A-1	$	45,763,315.28	$	959,396.93
	ii	Class A-2	$	0.00	$	959,396.93
	iii	Class A-3	$	0.00	$	959,396.93
	iv	Class A-4L	$	0.00	$	959,396.93
	v	Class A-4CP	$	0.00	$	959,396.93
	vi	Class B	$	0.00	$	959,396.93

	vii	Total Noteholder's Principal Distribution	$	45,763,315.28
F	Increase to the Specified Reserve Account Balance		$	0.00	$	959,396.93
G	Carryover Servicing Fees		$	0.00	$	959,396.93
H	Noteholder's Interest Carryover
	i	Class A-1	$	0.00	$	959,396.93
	ii	Class A-2	$	0.00	$	959,396.93
	iii	Class A-3	$	0.00	$	959,396.93
	iv	Class A-4L	$	0.00	$	959,396.93
	v	Class A-4CP	$	0.00	$	959,396.93
	vi	Class B	$	0.00	$	959,396.93

	vii	Total Noteholder's Interest Carryover	$	0.00
I	Excess to Reserve Account		$	959,396.93	$	0.00

X. 2002-5 Distributions

A	Distribution Amounts		Class A-1		Class A-2		Class A-3		Class A-4L		Class A-4CP		Class B
	i	Quarterly Interest Due	$	306,921.73	$	1,158,917.39	$	777,940.93	$	650,773.97	$	1,090,049.40	$	170,751.39
	ii	Quarterly Interest Paid		306,921.73		1,158,917.39	$	777,940.93	$	650,773.97	$	1,090,049.40		170,751.39

	iii	Interest Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	iv	Interest Carryover Due	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	v	Interest Carryover Paid		0.00		0.00		0.00		0.00		0.00		0.00

	vi	Interest Carryover	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	vii	Quarterly Principal Due	$	45,763,315.28	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	viii	Quarterly Principal Paid		45,763,315.28		0.00		0.00		0.00		0.00		0.00

	ix	Quarterly Principal Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

	x	Total Distribution Amount	$	46,070,237.01	$	1,158,917.39	$	777,940.93	$	650,773.97	$	1,090,049.40	$	170,751.39

B	Principal Distribution Reconciliation
	i	Notes Outstanding Principal Balance 5/31/03	$	1,201,460,452.20
	ii	Adjusted Pool Balance 5/31/03		1,155,697,136.92

	iii	Adjusted Pool Exceeding Notes Balance (i-ii)	$	45,763,315.28

	iv	Adjusted Pool Balance 2/28/03	$	1,197,325,175.47
	v	Adjusted Pool Balance 5/31/03		1,155,697,136.92

	vi	Current Principal Due (iv-v)	$	41,628,038.55
	vii	Principal Shortfall from previous Collection Period		4,135,276.73

	viii	Principal Distribution Amount (vi + vii)	$	45,763,315.28

	ix	Principal Distribution Amount Paid	$	45,763,315.28
	x	Principal Shortfall (viii-ix)	$	0.00
C		Total Principal Distribution	$	45,763,315.28
D		Total Interest Distribution		4,155,354.81

E		Total Cash Distributions	$	49,918,670.09

F	Note Balances			3/17/2003		6/16/2003
	i	A-1 Note Balance	78442GDZ6	$	96,460,452.20	$	50,697,136.92
		A-1 Note Pool Factor			0.4122241547		0.2166544313
	ii	A-2 Note Balance	78442GEA0	$	355,750,000.00	$	355,750,000.00
		A-2 Note Pool Factor			1.0000000000		1.0000000000
	iii	A-3 Note Balance	78442GEB8	$	226,500,000.00	$	226,500,000.00
		A-3 Note Pool Factor			1.0000000000		1.0000000000
	iv	A-4L Note Balance	78442GEC6	$	182,750,000.00	$	182,750,000.00
		A-4L Note Pool Factor			1.0000000000		1.0000000000
	v	A-4CP Note Balance	78442GED4	$	300,000,000.00	$	300,000,000.00
		A-4CP Note Pool Factor			1.0000000000		1.0000000000
	vi	B Note Balance	78442GEE2	$	40,000,000.00	$	40,000,000.00
		B Note Pool Factor			1.0000000000		1.0000000000

G	Reserve Account Reconciliation
	i	Beginning of Period Balance	$	2,985,848.32
	ii	Deposits to correct Shortfall	$	—
	iii	Deposits from Excess Servicing	$	959,396.93

	iv	Total Reserve Account Balance Available	$	3,945,245.25
	v	Required Reserve Account Balance	$	2,882,037.75
	vi	Shortfall Carried to Next Period	$	—
	vii	Excess Reserve — Release to SLM Funding Corp	$	1,063,207.50
	viii	Ending Reserve Account Balance	$	2,882,037.75

XI. 2002-5 Historical Pool Information

			03/01/03-05/31/03			12/01/02-02/28/03			7/22/02-11/30/02
Beginning Student Loan Portfolio Balance			$	1,174,882,566.16		$	1,233,097,345.26		$	1,310,664,802.63

	Student Loan Principal Activity
i		Regular Principal Collections	$	27,223,604.35		$	26,638,264.92		$	45,862,016.42
ii		Principal Collections from Guarantor		3,685,597.33			1,470,479.48			520,487.81
iii		Principal Reimbursements		14,482,594.42			32,605,871.25			33,601,967.68
iv		Other System Adjustments		—			—			—

v		Total Principal Collections	$	45,391,796.10		$	60,714,615.65		$	79,984,471.91
	Student Loan Non-Cash Principal Activity
i		Other Adjustments	$	148,146.57		$	191,021.37		$	316,397.66
ii		Capitalized Interest		(2,335,384.14	)		(2,690,857.92	)		(2,733,412.20	)

iii		Total Non-Cash Principal Activity	$	(2,187,237.57	)	$	(2,499,836.55	)	$	(2,417,014.54	)

(-) Total Student Loan Principal Activity			$	43,204,558.53		$	58,214,779.10		$	77,567,457.37

	Student Loan Interest Activity
i		Regular Interest Collections	$	3,293,539.01		$	3,516,621.42		$	5,990,982.74
ii		Interest Claims Received from Guarantors		188,011.71			48,936.63			7,729.24
iii		Collection Fees/Return Items		15,817.91			13,408.04			9,221.26
iv		Late Fee Reimbursements		110,133.12			104,927.32			191,842.02
v		Interest Reimbursements		136,235.01			364,890.55			345,913.47
vi		Other System Adjustments		—			—			—
vii		Special Allowance Payments		30,216.60			90,759.47			104,107.34
viii		Subsidy Payments		4,176,093.80			1,575,287.49			1,810,573.16

ix		Total Interest Collections	$	7,950,047.16		$	5,714,830.92		$	8,460,369.23
	Student Loan Non-Cash Interest Activity
i		Interest Accrual Adjustment	$	(91,310.97	)	$	(184,109.84	)	$	(280,880.55	)
ii		Capitalized Interest		2,335,384.14			2,690,857.92			2,733,412.20

iii		Total Non-Cash Interest Adjustments	$	2,244,073.17		$	2,506,748.08		$	2,452,531.65

	Total Student Loan Interest Activity		$	10,194,120.33		$	8,221,579.00		$	10,912,900.88
(=) Ending Student Loan Portfolio Balance			$	1,131,678,007.63		$	1,174,882,566.16		$	1,233,097,345.26

(+) Interest to be Capitalized			$	21,137,091.54		$	19,456,760.99		$	18,317,899.88

(=) TOTAL POOL			$	1,152,815,099.17		$	1,194,339,327.15		$	1,251,415,245.14

(+) Reserve Account Balance			$	2,882,037.75		$	2,985,848.32		$	3,128,538.11

(=) Total Adjusted Pool			$	1,155,697,136.92		$	1,197,325,175.47		$	1,254,543,783.25

XII. 2002-5 Payment History and CPRs

Distribution Date	Actual Pool Balances		Since Issued CPR *
Dec-02	$	1,251,415,245	11.09	%
Mar-03	$	1,194,339,327	12.50	%
Jun-03	$	1,152,815,099	11.94	%

*: "Since Issued CPR" is based on the current period's ending pool balance calculated against the original pool balance and assuming cutoff date pool data.

SLM Student Loan Trust 2002-6

Quarterly Servicing Report
Report Date:		5/31/2003		Reporting Period: 3/1/03-5/31/03

I. Deal Parameters

	Student Loan Portfolio Characteristics		2/28/2003			Activity			5/31/2003
A	i	Portfolio Balance	$	1,874,244,730.53		$	(45,612,782.64	)	$	1,828,631,947.89
	ii	Interest to be Capitalized		50,386,932.33						55,064,899.27

	iii	Total Pool	$	1,924,631,662.86					$	1,883,696,847.16
	iv	Specified Reserve Account Balance		4,811,579.16						4,709,242.12

	v	Total Adjusted Pool	$	1,929,443,242.02					$	1,888,406,089.28

B	i	Weighted Average Coupon (WAC)		3.649	%					3.655	%
	ii	Weighted Average Remaining Term		132.30						129.44
	iii	Number of Loans		461,523						451,719
	iv	Number of Borrowers		250,554						245,744
	v	Aggregate Outstanding Principal Balance—T-Bill	$	177,675,779.86					$	164,550,788.53
	vi	Aggregate Outstanding Principal Balance—Commercial Paper	$	1,746,955,883.00					$	1,719,146,058.63

	Notes			Spread		Balance 3/17/03		% of O/S Securities		Balance 6/16/03		% of O/S Securities
C	i	A-1L Notes	78442GEF9	0.000	%	$	199,295,485.56	10.274	%	$	154,061,563.42	8.132	%
	ii	A-2L Notes	78442GEG7	0.020	%		532,500,000.00	27.452	%		532,500,000.00	28.108	%
	iii	A-3L Notes	78442GEH5	0.090	%		352,250,000.00	18.160	%		352,250,000.00	18.593	%
	iv	A-4L Notes	78442GEJ1	0.180	%		595,000,000.00	30.674	%		595,000,000.00	31.407	%
	v	A-4CP Notes	78442GEK8	0.300	%		200,000,000.00	10.311	%		200,000,000.00	10.557	%
	vi	B Notes	78442GEL6	0.460	%		60,700,000.00	3.129	%		60,700,000.00	3.204	%

	vii	Total Notes				$	1,939,745,485.56	100.000	%	$	1,894,511,563.42	100.000	%

	Reserve Account		3/17/2003			6/16/2003
D	i	Required Reserve Acct Deposit (%)		0.25	%		0.25	%
	ii	Reserve Acct Initial Deposit ($)
	iii	Specified Reserve Acct Balance ($)	$	4,811,579.16		$	4,709,242.12
	iv	Reserve Account Floor Balance ($)	$	2,003,707.00		$	2,003,707.00
	v	Current Reserve Acct Balance ($)	$	4,811,579.16		$	4,709,242.12

		Other Accounts				3/17/2003			6/16/2003
E		i		Current Capitalized Interest Account Balance ($)		$	12,037,038.56		$	12,072,191.77

II. 2002-6 Transactions from: 2/28/2003 through: 5/31/2003

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	31,079,447.91
	ii	Principal Collections from Guarantor		1,841,482.72
	iii	Principal Reimbursements		15,406,381.10
	iv	Other System Adjustments		0.00

	v	Total Principal Collections	$	48,327,311.73
B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	283,219.19
	ii	Capitalized Interest		(2,997,748.28	)

	iii	Total Non-Cash Principal Activity	$	(2,714,529.09	)
C	Total Student Loan Principal Activity		$	45,612,782.64

D	Student Loan Interest Activity
	i	Regular Interest Collections	$	3,158,109.07
	ii	Interest Claims Received from Guarantors		59,883.88
	iii	Collection Fees/Returned Items		10,549.27
	iv	Late Fee Reimbursements		86,009.22
	v	Interest Reimbursements		255,817.57
	vi	Other System Adjustments		0.00
	vii	Special Allowance Payments		16,566.61
	viii	Subsidy Payments		3,992,310.72

	ix	Total Interest Collections	$	7,579,246.34
E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustment	$	(201,714.17	)
	ii	Capitalized Interest		2,997,748.28

	iii	Total Non-Cash Interest Adjustments	$	2,796,034.11
F	Total Student Loan Interest Activity		$	10,375,280.45

G.	Non-Reimbursable Losses During Collection Period		$	16,758.30
H.	Cumulative Non-Reimbursable Losses to Date		$	16,932.74

III. 2002-6 Collection Account Activity 2/28/2003 through 5/31/2003

A	Principal Collections
	i	Principal Payments Received—Cash	$	13,228,264.80
	ii	Cash Consolidation Principal Payments	$	19,692,665.83
	iii	Cash Forwarded by Administrator on behalf of Seller		1,297,671.63
	iv	Cash Forwarded by Administrator on behalf of Servicer		14,658.44
	v	Cash Forwarded by Administrator for Consolidation Activity		14,094,051.03

	vi	Total Principal Collections	$	48,327,311.73
B	Interest Collections
	i	Interest Payments Received—Cash	$	6,858,320.55
	ii	Cash Consolidation Interest Payments	$	368,549.73
	iii	Cash Forwarded by Administrator on behalf of Seller		79,911.32
	iv	Cash Forwarded by Administrator on behalf of Servicer		924.78
	v	Cash Forwarded by Administrator for Consolidation Activity		174,981.47
	vi	Collection Fees/Returned Items		10,549.27
	vii	Cash Forwarded by Administrator for Late Fee Activity		86,009.22

	viii	Total Interest Collections	$	7,579,246.34
C	Other Reimbursements		$	17,033.92
D	Administrator Account Investment Income		$	34,025.57
E	Return funds borrowed for previous distribution		$	—
	TOTAL FUNDS RECEIVED		$	55,957,617.56
	LESS FUNDS PREVIOUSLY REMITTED: Servicing Fees		$	(2,796,190.08	)

F	TOTAL FUNDS TRANSFERRED TO COLLECTION ACCOUNT		$	53,161,427.48

G	Servicing Fees Due for Current Period		$	1,378,658.47

Less:

Servicing ADJ [A iv + B iv]

(15,583.22

)

Carryover Servicing Fees Due

—

I	Administration Fees Due	$	20,000.00

J	Total Fees Due for Period	$	1,383,075.25

IV. 2002-6 Portfolio Characteristics

			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			2/28/2003		5/31/2003		2/28/2003	5/31/2003	2/28/2003		5/31/2003		2/28/2003		5/31/2003		2/28/2003		5/31/2003
INTERIM:
	In School
		Current	3.460	%	3.460	%	273,843	217,002	59.335	%	48.039	%	$	1,212,128,094.87	$	935,152,730.51	64.673	%	51.139	%
	Grace
		Current	3.460	%	3.460	%	59,931	95,730	12.985	%	21.192	%	$	208,236,289.12	$	413,681,359.00	11.110	%	22.622	%

TOTAL INTERIM			3.460	%	3.460	%	333,774	312,732	72.320	%	69.231	%	$	1,420,364,383.99	$	1,348,834,089.51	75.783	%	73.761	%

REPAYMENT
	Active
		Current	4.411	%	4.373	%	68,279	72,859	14.795	%	16.129	%	$	244,374,113.80	$	250,384,479.83	13.039	%	13.693	%
		31-60 Days Delinquent	4.353	%	4.308	%	4,861	6,246	1.053	%	1.383	%	$	15,410,316.77	$	19,092,750.70	0.822	%	1.044	%
		61-90 Days Delinquent	4.209	%	4.298	%	4,795	3,078	1.039	%	0.681	%	$	15,567,235.84	$	9,456,837.03	0.831	%	0.517	%
		91-120 Days Delinquent	4.271	%	4.299	%	2,128	1,523	0.461	%	0.337	%	$	5,920,019.26	$	4,469,818.94	0.316	%	0.244	%
		› 120 Days Delinquent	4.372	%	4.267	%	9,004	7,937	1.951	%	1.757	%	$	24,839,463.95	$	21,111,166.86	1.325	%	1.154	%
Deferment
	Current		3.594	%	3.576	%	16,774	17,796	3.634	%	3.940	%	$	67,133,087.76	$	70,293,870.10	3.582	%	3.844	%
Forbearance
	Current		4.310	%	4.263	%	21,648	29,057	4.691	%	6.433	%	$	79,805,267.88	$	103,491,494.26	4.258	%	5.660	%

TOTAL REPAYMENT			4.259	%	4.223	%	127,489	138,496	27.624	%	30.660	%	$	453,049,505.26	$	478,300,417.72	24.173	%	26.156	%

	Claims in Process (1)		4.286	%	4.292	%	260	491	0.056	%	0.109	%	$	830,841.28	$	1,497,440.66	0.044	%	0.082	%
	Aged Claims Rejected (2)		0.000	%	0.000	%	—	—	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

GRAND TOTAL			3.649	%	3.655	%	461,523	451,719	100.000	%	100.000	%	$	1,874,244,730.53	$	1,828,631,947.89	100.000	%	100.000	%

(1): Claims filed and unpaid; includes claims rejected aged less than 6 months.
(2): Claims rejected (subject to cure) aged 6 months or more; also includes claims deemed incurable pending repurchase.
*: Percentages may not total 100% due to rounding.

V. 2002-6 Portfolio Characteristics by School and Program

LOAN TYPE	WAC		# Loans	$ Amount		%
GSL—Subsidized	3.652	%	251,691	$	862,633,182.00	47.174	%
GSL—Unsubsidized	3.576	%	187,877		899,960,509.11	49.215	%
PLUS Loans	4.915	%	12,149		66,030,181.31	3.611	%
SLS Loans	5.230	%	2		8,075.47	0.000	%
Total	3.655	%	451,719	$	1,828,631,947.89	100.000	%
SCHOOL TYPE	WAC		# Loans	$ Amount		%
Four Year	3.638	%	361,102	$	1,594,237,276.48	87.182	%
Two Year	3.773	%	60,489		151,848,416.01	8.304	%
Technical	3.890	%	30,061		82,401,661.20	4.506	%
Other	5.373	%	67		144,594.20	0.008	%
Total	3.655	%	451,719	$	1,828,631,947.89	100.000	%

*: Percentages may not total 100% due to rounding.

VI. 2002-6 Student Loan Rate Calculation and Interest Rate Cap Payments

			Cap
A	Borrower Interest Accrued During Collection Period		$	10,936,509.23
B	Interest Subsidy Payments Accrued During Collection Period			3,942,527.70
C	SAP Payments Accrued During Collection Period			0.00
D	INV Earnings Accrued for Collection Period (RESERVE, COLLECTION)			80,012.72
E	INV Earnings Accrued for Collection Period (CAP INT ACTS)			35,153.21
F	Investment Earnings (ADMINISTRATOR ACCOUNTS)			34,025.57

G	Net Expected Interest Collections		$	15,028,228.43
H	Interest Rate Cap Payments Due to the Trust
	i	Cap Notional Amount	$	650,000,000.00
	ii	Libor (Interpolated first period)		1.25875%
	iii	Cap %		4.00000%
	iv	Excess Over Cap ( ii-iii)		0.00000%
	v	Cap Payments Due to the Trust	$	0.00

VII. 2002-6 Accrued Interest Factors

		Accrued Int Factor	Accrual Period	Rate
A	Class A-1L Interest Rate	0.003181840	(3/17/03-6/16/03)	1.25875	%
B	Class A-2L Interest Rate	0.003232396	(3/17/03-6/16/03)	1.27875	%
C	Class A-3L Interest Rate	0.003409340	(3/17/03-6/16/03)	1.34875	%
D	Class A-4L Interest Rate	0.003636840	(3/17/03-6/16/03)	1.43875	%
E	Class A-4CP Interest Rate	0.003714121	(3/17/03-6/16/03)	1.48973	%
F	Class B Interest Rate	0.004344618	(3/17/03-6/16/03)	1.71875	%

VIII. 2002-6 Inputs From Original Data 2/28/03

A	Total Student Loan Pool Outstanding
	i	Portfolio Balance	$	1,874,244,730.53
	ii	Interest To Be Capitalized		50,386,932.33

	iii	Total Pool	$	1,924,631,662.86
	iv	Specified Reserve Account Balance		4,811,579.16

	v	Total Adjusted Pool	$	1,929,443,242.02

B	Total Note and Certificate Factor			0.95851434776
C	Total Note Balance		$	1,939,745,485.56

D	Note Balance 3/17/2003		Class A-1L		Class A-2L		Class A-3L		Class A-4L		Class A-4CP		Class B
	i	Current Factor		0.7036027734		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000
	ii	Expected Note Balance	$	199,295,485.56	$	532,500,000.00	$	352,250,000.00	$	595,000,000.00	$	200,000,000.00	$	60,700,000.00

E	Note Principal Shortfall		$	10,302,243.54	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
F	Interest Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
G	Interest Carryover		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

H	Reserve Account Balance												$	4,811,579.16
I	Unpaid Primary Servicing Fees from Prior Month(s)												$	0.00
J	Unpaid Administration fees from Prior Quarter(s)												$	0.00
K	Unpaid Carryover Servicing Fees from Prior Quarter(s)												$	0.00
L	Interest Due on Unpaid Carryover Servicing Fees												$	0.00

IX. 2002-6 Waterfall for Distributions

					Remaining Funds Balance
A	Total Available Funds (Sections III-F + VI-D +VI-H-v + X-G-vii)		$	53,343,777.24	$	53,343,777.24
B	Primary Servicing Fees—Current Month		$	1,363,075.25	$	51,980,701.99
C	Administration Fee		$	20,000.00	$	51,960,701.99
D	Noteholder's Interest Distribution Amount
	i	Class A-1L	$	634,126.40	$	51,326,575.59
	ii	Class A-2L	$	1,721,250.78	$	49,605,324.81
	iii	Class A-3L	$	1,200,940.11	$	48,404,384.70
	iv	Class A-4L	$	2,163,919.97	$	46,240,464.73
	v	Class A-4CP	$	742,824.27	$	45,497,640.46
	vi	Class B	$	263,718.32	$	45,233,922.14

	vii	Total Noteholder's Interest Distribution	$	6,726,779.85
E	Noteholder's Principal Distribution Amount Paid
	i	Class A-1L	$	45,233,922.14	$	0.00
	ii	Class A-2L	$	0.00	$	0.00
	iii	Class A-3L	$	0.00	$	0.00
	iv	Class A-4L	$	0.00	$	0.00
	v	Class A-4CP	$	0.00	$	0.00
	vi	Class B	$	0.00	$	0.00

	vii	Total Noteholder's Principal Distribution	$	45,233,922.14
F	Increase to the Specified Reserve Account Balance		$	0.00	$	0.00
G	Carryover Servicing Fees		$	0.00	$	0.00
H	Noteholder's Interest Carryover
	i	Class A-1L	$	0.00	$	0.00
	ii	Class A-2L	$	0.00	$	0.00
	iii	Class A-3L	$	0.00	$	0.00
	iv	Class A-4L	$	0.00	$	0.00
	v	Class A-4CP	$	0.00	$	0.00
	vi	Class B	$	0.00	$	0.00

	vii	Total Noteholder's Interest Carryover	$	0.00
I	Excess to Reserve Account		$	0.00	$	0.00

X. 2002-6 Distributions

A	Distribution Amounts		Class A-1L		Class A-2L		Class A-3L		Class A-4L		Class A-4CP		Class B
	i	Quarterly Interest Due	$	634,126.40	$	1,721,250.78	$	1,200,940.11	$	2,163,919.97	$	742,824.27	$	263,718.32
	ii	Quarterly Interest Paid		634,126.40		1,721,250.78	$	1,200,940.11	$	2,163,919.97	$	742,824.27		263,718.32

	iii	Interest Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	iv	Interest Carryover Due	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	v	Interest Carryover Paid		0.00		0.00		0.00		0.00		0.00		0.00

	vi	Interest Carryover	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	vii	Quarterly Principal Due	$	51,339,396.28	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	viii	Quarterly Principal Paid		45,233,922.14		0.00		0.00		0.00		0.00		0.00

	ix	Quarterly Principal Shortfall	$	6,105,474.14	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

	x	Total Distribution Amount	$	45,868,048.54	$	1,721,250.78	$	1,200,940.11	$	2,163,919.97	$	742,824.27	$	263,718.32

B	Principal Distribution Reconciliation
	i	Notes Outstanding Principal Balance 5/31/03	$	1,939,745,485.56
	ii	Adjusted Pool Balance 5/31/03		1,888,406,089.28

	iii	Adjusted Pool Exceeding Notes Balance (i-ii)	$	51,339,396.28

	iv	Adjusted Pool Balance 2/28/03	$	1,929,443,242.02
	v	Adjusted Pool Balance 5/31/03		1,888,406,089.28

	vi	Current Principal Due (iv-v)	$	41,037,152.74
	vii	Principal Shortfall from Previous Collection Period		10,302,243.54

	viii	Principal Distribution Amount (vi + vii)	$	51,339,396.28

	ix	Principal Distribution Amount Paid	$	45,233,922.14
	x	Principal Shortfall (viii-ix)	$	6,105,474.14
C		Total Principal Distribution	$	45,233,922.14
D		Total Interest Distribution		6,726,779.85

E		Total Cash Distributions	$	51,960,701.99

F	Note Balances			3/17/2003		6/16/2003
	i	A-1 Note Balance	78442GEF9	$	199,295,485.56	$	154,061,563.42
		A-1 Note Pool Factor			0.7036027734		0.5439066670
	ii	A-2 Note Balance	78442GEG7	$	532,500,000.00	$	532,500,000.00
		A-2 Note Pool Factor			1.0000000000		1.0000000000
	iii	A-3 Note Balance	78442GEH5	$	352,250,000.00	$	352,250,000.00
		A-3 Note Pool Factor			1.0000000000		1.0000000000
	iv	A-4 Note Balance	78442GEJ1	$	595,000,000.00	$	595,000,000.00
		A-4 Note Pool Factor			1.0000000000		1.0000000000
	v	A-4CP Note Balance	78442GEK8		200,000,000.00		200,000,000.00
		A-4CP Note Pool Factor			1.000000000		1.000000000
	vi	B Note Balance	78442GEL6	$	60,700,000.00	$	60,700,000.00
		B Note Pool Factor			1.0000000000		1.0000000000

G	Reserve Account Reconciliation
	i	Beginning of Period Balance	$	4,811,579.16
	ii	Deposits to correct Shortfall	$	—
	iii	Deposits from Excess Servicing	$	0.00

	iv	Total Reserve Account Balance Available	$	4,811,579.16
	v	Required Reserve Account Balance	$	4,709,242.12
	vi	Shortfall Carried to Next Period	$	—
	vii	Excess Reserve — Release to Waterfall	$	102,337.04
	viii	Ending Reserve Account Balance	$	4,709,242.12

XI. 2002-6 Historical Pool Information

			3/1/03-5/31/03			12/1/02-2/28/03			11/05/02-11/30/02
Beginning Student Loan Portfolio Balance			$	1,874,244,730.53		$	1,925,930,417.36		$	1,961,617,208.92

	Student Loan Principal Activity
i		Regular Principal Collections	$	31,079,447.91		$	24,978,043.15		$	20,391,329.39
ii		Principal Collections from Guarantor		1,841,482.72			1,146,147.64			102,005.25
iii		Principal Reimbursements		15,406,381.10			27,908,759.23			16,834,581.33
iv		Other System Adjustments		—			—			—

v		Total Principal Collections	$	48,327,311.73		$	54,032,950.02		$	37,327,915.97
	Student Loan Non-Cash Principal Activity
i		Other Adjustments	$	283,219.19		$	598,094.63		$	642,089.44
ii		Capitalized Interest		(2,997,748.28	)		(2,945,357.82	)		(2,283,213.85	)

iii		Total Non-Cash Principal Activity	$	(2,714,529.09	)	$	(2,347,263.19	)	$	(1,641,124.41	)

(-) Total Student Loan Principal Activity			$	45,612,782.64		$	51,685,686.83		$	35,686,791.56

	Student Loan Interest Activity
i		Regular Interest Collections	$	3,158,109.07		$	3,261,016.84		$	2,529,714.25
ii		Interest Claims Received from Guarantors		59,883.88			17,012.45			596.61
iii		Collection Fees/Returned Items		10,549.27			5,931.86			1,736.24
iv		Late Fee Reimbursements		86,009.22			88,534.75			65,549.95
v		Interest Reimbursements		255,817.57			316,158.49			253,867.48
vi		Other System Adjustments		—			—			—
vii		Special Allowance Payments		16,566.61			—			—
viii		Subsidy Payments		3,992,310.72			2,567,763.19			—

ix		Total Interest Collections	$	7,579,246.34		$	6,256,417.58		$	2,851,464.53
	Student Loan Non-Cash Interest Activity
i		Interest Accrual Adjustment	$	(201,714.17	)	$	(530,992.66	)	$	(499,114.44	)
ii		Capitalized Interest		2,997,748.28			2,945,357.82			2,283,213.85

iii		Total Non-Cash Interest Adjustments	$	2,796,034.11		$	2,414,365.16		$	1,784,099.41

	Total Student Loan Interest Activity		$	10,375,280.45		$	8,670,782.74		$	4,635,563.94
(=) Ending Student Loan Portfolio Balance			$	1,828,631,947.89		$	1,874,244,730.53		$	1,925,930,417.36

(+) Interest to be Capitalized			$	55,064,899.27		$	50,386,932.33		$	45,305,709.59

(=) TOTAL POOL			$	1,883,696,847.16		$	1,924,631,662.86		$	1,971,236,126.95

(+) Reserve Account Balance			$	4,709,242.12		$	4,811,579.16		$	4,928,090.32

(=) Total Adjusted Pool			$	1,888,406,089.28		$	1,929,443,242.02		$	1,976,164,217.27

XII. 2002-6 Payment History and CPRs

Distribution Date	Actual Pool Balances		Since Issued CPR *
Dec-02	$	1,971,236,127	6.18	%
Mar-03	$	1,924,631,663	7.46	%
Jun-03	$	1,883,696,847	7.56	%

*: "Since Issued CPR" is based on the current period's ending pool balance calculated against the original pool balance and assuming cutoff date pool data.

SLM Student Loan Trust 2002-7

Quarterly Servicing Report
Report Date:		5/31/2003		Reporting Period: 3/1/03-5/31/03

I. Deal Parameters

	Student Loan Portfolio Characteristics		2/28/2003			Activity			5/31/2003
A	i	Portfolio Balance	$	1,916,165,276.58		$	(34,511,585.62	)	$	1,881,653,690.96
	ii	Interest to be Capitalized		9,015,094.51						9,635,098.18

	iii	Total Pool	$	1,925,180,371.09					$	1,891,288,789.14
	iv	Specified Reserve Account Balance		4,812,950.93						4,728,221.97

	v	Total Adjusted Pool	$	1,929,993,322.02					$	1,896,017,011.11

B	i	Weighted Average Coupon (WAC)		7.491	%					7.488	%
	ii	Weighted Average Remaining Term		261.66						260.13
	iii	Number of Loans		97,044						95,455
	iv	Number of Borrowers		60,037						58,934
	v	Aggregate Outstanding Principal Balance—T-Bill	$	445,614,140.44					$	434,179,571.64
	vi	Aggregate Outstanding Principal Balance—Commercial Paper	$	1,479,566,230.65					$	1,457,109,217.50

	Notes			Spread		Balance 3/17/03		Balance 6/16/03
C	i	A-1 L Notes	78442GEM4	0.000	%	$	135,793,322.02	$	101,817,011.11
	ii	A-2 L Notes	78442GEN2	0.040	%	$	229,400,000.00	$	229,400,000.00
	iii	A-3 L Notes	78442GEP7	0.090	%	$	198,460,000.00	$	198,460,000.00
	iv	A-4 L Notes	78442GEQ5	0.180	%	$	206,940,000.00	$	206,940,000.00
	v	A-5 E Notes *	XS0158197821	0.270	%		500,000,000.00		500,000,000.00
	vi	A-6 ARS Notes	78442GES1	ARS		$	94,550,000.00	$	94,550,000.00
	vii	A-7 ARS Notes	78442GET9	ARS		$	100,000,000.00	$	100,000,000.00
	viii	A-8 ARS Notes	78442GEU6	ARS		$	100,000,000.00	$	100,000,000.00
	ix	A-9 ARS Notes	78442GEV4	ARS		$	100,000,000.00	$	100,000,000.00
	x	A-10 ARS Notes	78442GEW2	ARS		$	100,000,000.00	$	100,000,000.00
	xi	A-11 ARS Notes	78442GEX0	ARS		$	100,000,000.00	$	100,000,000.00
	xii	B ARS Notes	78442GEY8	ARS		$	59,850,000.00	$	59,850,000.00

	Reserve Account		3/17/2003			6/16/2003
D	i	Required Reserve Acct Deposit (%)		0.25	%		0.25	%
	ii	Reserve Acct Initial Deposit ($)
	iii	Specified Reserve Acct Balance ($)	$	4,812,950.93		$	4,728,221.97
	iv	Reserve Account Floor Balance ($)	$	1,975,947.00		$	1,975,947.00
	v	Current Reserve Acct Balance ($)	$	4,812,950.93		$	4,728,221.97

		Capitalized Interest Account				3/17/2003			6/16/2003
E		i		Current Capitalized Interest Account Balance ($)		$	22,322,865.71		$	22,388,057.80

*: A-5 is denominated in Euros

II. 2002-7 Transactions from: 2/28/2003 through: 5/31/2003

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	31,742,029.82
	ii	Principal Collections from Guarantor		5,914,112.70
	iii	Principal Reimbursements		7,494,761.77
	iv	Other System Adjustments		0.00

	v	Total Principal Collections	$	45,150,904.29
B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	616,457.87
	ii	Capitalized Interest		(11,255,776.54	)

	iii	Total Non-Cash Principal Activity	$	(10,639,318.67	)
C	Total Student Loan Principal Activity		$	34,511,585.62

D	Student Loan Interest Activity
	i	Regular Interest Collections	$	22,079,576.81
	ii	Interest Claims Received from Guarantors		447,897.20
	iii	Collection Fees		738.31
	iv	Late Fee Reimbursements		233,973.45
	v	Interest Reimbursements		61,969.42
	vi	Other System Adjustments		0.00
	vii	Special Allowance Payments		12.17
	viii	Subsidy Payments		782,499.73

	ix	Total Interest Collections	$	23,606,667.09
E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustment	$	(546,479.28	)
	ii	Capitalized Interest		11,255,776.54

	iii	Total Non-Cash Interest Adjustments	$	10,709,297.26
F	Total Student Loan Interest Activity		$	34,315,964.35

G.	Non-Reimbursable Losses During Collection Period		$	0.00
H.	Cumulative Non-Reimbursable Losses to Date		$	1,895.52

III. 2002-7 Collection Account Activity 2/28/2003 through 5/31/2003

A	Principal Collections
	i	Principal Payments Received—Cash	$	30,227,472.89
	ii	Cash Consolidation Principal Payments	$	7,428,669.63
	iii	Cash Forwarded by Administrator on behalf of Seller		0.00
	iv	Cash Forwarded by Administrator on behalf of Servicer		0.00
	v	Cash Forwarded by Administrator for Consolidation Activity		7,494,761.77

	vi	Total Principal Collections	$	45,150,904.29
B	Interest Collections
	i	Interest Payments Received—Cash	$	23,245,495.87
	ii	Cash Consolidation Interest Payments	$	64,490.04
	iii	Cash Forwarded by Administrator on behalf of Seller		(1,769.98	)
	iv	Cash Forwarded by Administrator on behalf of Servicer		1,769.98
	v	Cash Forwarded by Administrator for Consolidation Activity		61,969.42
	vi	Collection Fees/Returned Items		738.31
	vii	Cash Forwarded by Administrator for Late Fee Activity		233,973.45

	viii	Total Interest Collections	$	23,606,667.09
C	Other Reimbursements		$	173,583.10
D	Reserves in Excess of Reserve Requirement		$	84,728.96
E	Trust Account Investment Income		$	125,548.83
F	Administrator Account Investment Income		$	31,155.57
	TOTAL FUNDS RECEIVED		$	69,172,587.84
	LESS FUNDS PREVIOUSLY REMITTED/SET ASIDE:
	i	Servicing Fees	$	(1,094,187.17	)
	ii	Consolidation Loan Rebate Fees	$	(4,960,257.00	)
	iii	ARS related fees, payments, and accruals (IV-A-v + IV-B-v)	$	(2,623,953.59	)

F	TOTAL AVAILABLE FUNDS		$	60,494,190.08

G	Servicing Fees Due for Current Period		$	787,806.50

Less:

Servicing ADJ [A iv + B iv]

(1,769.98

)

Carryover Servicing Fees Due

—

I	Administration Fees Due	$	20,000.00

J	Total Fees Due for Period	$	806,036.52

IV Auction Rate Security Detail

A	Auction Rate Securities Paid During Collection Period
	i	Payment Date	Security Description	Interest Rate		No. of Days	Start Date	End Date	Interest Payment
		03/18/2003	SLM TRUST 2002-7 A-6	1.320000	%	28	02/18/2003	03/18/2003		97,071.33
		03/18/2003	SLM TRUST 2002-7 B	1.370000	%	28	02/18/2003	03/18/2003		63,773.50
		03/20/2003	SLM TRUST 2002-7 A- 11	1.300000	%	28	02/20/2003	03/20/2003		101,111.11
		03/28/2003	SLM TRUST 2002-7 A-7	1.310000	%	28	02/28/2003	03/28/2003		101,888.89
		04/02/2003	SLM TRUST 2002-7 A- 10	1.320000	%	28	03/05/2003	04/02/2003		102,666.67
		04/04/2003	SLM TRUST 2002-7 A-8	1.310000	%	28	03/07/2003	04/04/2003		101,888.89
		04/08/2003	SLM TRUST 2002-7 A-9	1.300000	%	28	03/11/2003	04/08/2003		101,111.11
		04/15/2003	SLM TRUST 2002-7 A-6	1.300000	%	28	03/18/2003	04/15/2003		95,600.56
		04/15/2003	SLM TRUST 2002-7 B	1.340000	%	28	03/18/2003	04/15/2003		62,377.00
		04/17/2003	SLM TRUST 2002-7 A- 11	1.280000	%	28	03/20/2003	04/17/2003		99,555.56
		04/25/2003	SLM TRUST 2002-7 A-7	1.310000	%	28	03/28/2003	04/25/2003		101,888.89
		04/30/2003	SLM TRUST 2002-7 A- 10	1.310000	%	28	04/02/2003	04/30/2003		101,888.89
		05/02/2003	SLM TRUST 2002-7 A-8	1.300000	%	28	04/04/2003	05/02/2003		101,111.11
		05/06/2003	SLM TRUST 2002-7 A-9	1.320000	%	28	04/08/2003	05/06/2003		102,666.67
		05/13/2003	SLM TRUST 2002-7 A-6	1.300000	%	28	04/15/2003	05/13/2003		95,600.56
		05/13/2003	SLM TRUST 2002-7 B	1.350000	%	28	04/15/2003	05/13/2003		62,842.50
		05/15/2003	SLM TRUST 2002-7 A- 11	1.300000	%	28	04/17/2003	05/15/2003		101,111.11
		05/23/2003	SLM TRUST 2002-7 A-7	1.310000	%	28	04/25/2003	05/23/2003		101,888.89
		05/28/2003	SLM TRUST 2002-7 A- 10	1.330000	%	28	04/30/2003	05/28/2003		103,444.44
		05/30/2003	SLM TRUST 2002-7 A-8	1.310000	%	28	05/02/2003	05/30/2003		101,888.89
	ii	Auction Rate Security Payments Made During Collection Period							$	1,901,376.57
	iii	Broker/Dealer Fees Paid During Collection Period				3/1/03-5/31/03			$	289,831.11
	iv	Auction Agent Fees Paid During Collection Period				3/1/03-5/31/03			$	12,317.82

	v	Total Payments Out of Future Distribution Account During Collection Period							$	2,203,525.50

B	Payments Set Aside During Collection Period for Future Distributions
	i	Payment Date	Security Description	Interest Rate		No. of Days	Start Date	End Date	Total Payment
		6/3/2003	SLM TRUST 2002-7 A-9	1.310000	%	28	05/06/2003	6/3/2003		101,888.89
		06/10/2003	SLM TRUST 2002-7 A-6	1.310000	%	28	05/13/2003	06/10/2003		96,335.94
		06/10/2003	SLM TRUST 2002-7 B	1.350000	%	28	05/13/2003	06/10/2003		62,842.50
		06/12/2003	SLM TRUST 2002-7 A- 11	1.310000	%	28	05/15/2003	06/12/2003		101,888.89
	ii	Future Auction Rate Security Payments Set Aside							$	362,956.22
	iii	Future Broker Dealer Fees Set Aside for Payment							$	55,128.89
	iv	Future Auction Agent Fees Set Aside for Payment							$	2,342.98
		Less: Auction Rate Security Payments and Fees due on the Distribution Date							$	—

	v	Total Funds Remaining in Future Distribution Account							$	420,428.09

V. 2002-7 Portfolio Characteristics

			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			2/28/2003		5/31/2003		2/28/2003	5/31/2003	2/28/2003		5/31/2003		2/28/2003		5/31/2003		2/28/2003		5/31/2003
INTERIM:
	In School
		Current	0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%
	Grace
		Current	0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

TOTAL INTERIM			0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

REPAYMENT
	Active
		Current	7.443	%	7.444	%	67,171	65,883	69.218	%	69.019	%	$	1,267,671,845.43	$	1,231,896,618.74	66.157	%	65.468	%
		31-60 Days Delinquent	7.646	%	7.657	%	2,682	2,495	2.764	%	2.614	%	$	54,985,080.26	$	47,848,742.29	2.870	%	2.543	%
		61-90 Days Delinquent	7.755	%	7.740	%	1,293	1,316	1.332	%	1.379	%	$	25,719,670.40	$	26,601,921.35	1.342	%	1.414	%
		91-120 Days Delinquent	7.808	%	7.780	%	701	671	0.722	%	0.703	%	$	14,358,490.75	$	13,958,070.05	0.749	%	0.742	%
		› 120 Days Delinquent	8.056	%	7.978	%	891	800	0.918	%	0.838	%	$	20,378,079.14	$	17,902,256.09	1.063	%	0.951	%
Deferment
	Current		7.466	%	7.460	%	9,792	9,476	10.090	%	9.927	%	$	193,926,357.60	$	189,668,234.47	10.121	%	10.080	%
Forbearance
	Current		7.588	%	7.572	%	14,384	14,739	14.822	%	15.441	%	$	335,604,322.72	$	352,239,271.00	17.514	%	18.720	%

TOTAL REPAYMENT			7.490	%	7.487	%	96,914	95,380	99.866	%	99.921	%	$	1,912,643,846.30	$	1,880,115,113.99	99.816	%	99.918	%

	Claims in Process (1)		8.085	%	8.327	%	130	75	0.134	%	0.079	%	$	3,521,430.28	$	1,538,576.97	0.184	%	0.082	%
	Aged Claims Rejected (2)		0.000	%	0.000	%	—	—	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

GRAND TOTAL			7.491	%	7.488	%	97,044	95,455	100.000	%	100.000	%	$	1,916,165,276.58	$	1,881,653,690.96	100.000	%	100.000	%

(1): Claims filed and unpaid; includes claims rejected aged less than 6 months.
(2): Claims rejected (subject to cure) aged 6 months or more; also includes claims deemed incurable pending repurchase.
*: Percentages may not total 100% due to rounding.

VI. 2002-7 Portfolio Characteristics by School

SCHOOL TYPE	WAC		# Loans	$ Amount		%
Four Year	8.812	%	543	$	12,467,584.94	0.663	%
Two Year	9.038	%	24		292,558.63	0.016	%
Technical	8.951	%	31		373,296.69	0.020	%
Other	7.478	%	94,857		1,868,520,250.70	99.301	%
Total	7.488	%	95,455	$	1,881,653,690.96	100.000	%
* 100% of the Trust Student Loans are consolidation loans.

*: Percentages may not total 100% due to rounding.

VII. 2002-7 Expected Interest Calculation and Swap Payments

			Trust Receives	Trust Pays
A	Borrower Interest Accrued During Collection Period			$	33,662,885.64
B	Interest Subsidy Payments Accrued During Collection Period				1,299,075.51
C	SAP Payments Accrued During Collection Period				8.52
D	INV Earnings Accrued for Collection Period (RESERVE, COLLECTION, EURO & FUT DIST ACTS)				125,548.83
E	INV Earnings Accrued for Collection Period (CAPITALIZED INTEREST ACCOUNT)				65,192.09
F	Investment Earnings (ADMINISTRATOR ACCOUNTS)				31,155.57
G	Consolidation Loan Rebate Fees				(4,960,257.00	)

H	Net Expected Interest Collections			$	30,223,609.16
H	Currency Swap Payments Due to the Trust
	i	Aggregate Swap Notional Amount—Class A-5 *	500,000,000	$	505,000,000
	ii	Euribor/Libor Rate	2.54500%		1.25875%

	iii	Spread	0.2700%		0.3300%
	iv	Final Rate (ii+iii)	2.81500%		1.58875%
	v	Swap Payments Due	3,557,847.22	$	2,028,083.51

*: Payments are calculated using an exchange rate of $1.01 = (1.00

VIII. 2002-7 Accrued Interest Factors

		Accrued Int Factor	Accrual Period	Rate
A	Class A-1 Interest Rate	0.003181840	(3/17/03-6/16/03)	1.25875	%
B	Class A-2 Interest Rate	0.003282951	(3/17/03-6/16/03)	1.29875	%
C	Class A-3 Interest Rate	0.003409340	(3/17/03-6/16/03)	1.34875	%
D	Class A-4 Interest Rate	0.003636840	(3/17/03-6/16/03)	1.43875	%
E	Class A-5 Interest Rate	0.007115694	(3/17/03-6/16/03)	2.81500	%

IX. 2002-7 Inputs From Original Data 2/28/03

A	Total Student Loan Pool Outstanding
	i	Portfolio Balance	$	1,916,165,276.58
	ii	Interest To Be Capitalized		9,015,094.51

	iii	Total Pool	$	1,925,180,371.09
	iv	Specified Reserve Account Balance		4,812,950.93

	v	Total Adjusted Pool	$	1,929,993,322.02

B	Total Note and Certificate Factor			0.96709041175
C	Total Note Balance		$	1,929,993,322.02

D	Note Balance 3/17/2003		Class A-1		Class A-2		Class A-3		Class A-4		Class A-5		Class A-6		Class A-7		Class A-8		Class A-9		Class A-10		Class A-11		Class B
	i	Current Factor		0.6740126174		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000
	ii	Expected Note Balance	$	135,793,322.02	$	229,400,000.00	$	198,460,000.00	$	206,940,000.00		500,000,000.00	$	94,550,000.00	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	$	59,850,000.00

E	Note Principal Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
F	Interest Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
G	Interest Carryover		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

H	Reserve Account Balance																								$	4,812,950.93
I	Unpaid Primary Servicing Fees from Prior Month(s)																								$	0.00
J	Unpaid Administration fees from Prior Quarter(s)																								$	0.00
K	Unpaid Carryover Servicing Fees from Prior Quarter(s)																								$	0.00
L	Interest Due on Unpaid Carryover Servicing Fees																								$	0.00

XI. 2002-7 Waterfall for Distributions

					Remaining Funds Balance
A	Total Available Funds (III-F)		$	60,494,190.08	$	60,494,190.08
B	Primary Servicing Fees—Current Month		$	786,036.52	$	59,708,153.56
C	Administration Fee		$	20,000.00	$	59,688,153.56
D	Auction Agent Fees Due 6/16/2003		$	0.00	$	59,688,153.56
	Broker/Dealer Fees Due 6/16/2003		$	0.00	$	59,688,153.56
E	Noteholders' Interest Distribution Amounts for 6/16/2003
	i	Class A-1	$	432,072.66	$	59,256,080.90
	ii	Class A-2	$	753,109.05	$	58,502,971.85
	iii	Class A-3	$	676,617.67	$	57,826,354.18
	iv	Class A-4	$	752,607.73	$	57,073,746.45
	v	Class A-5 US Dollar Equivalent to the Swap Counterparty	$	2,028,083.51	$	55,045,662.95
	vi	Class A-6	$	0.00	$	55,045,662.95
	vii	Class A-7	$	0.00	$	55,045,662.95
	viii	Class A-8	$	0.00	$	55,045,662.95
	ix	Class A-9	$	0.00	$	55,045,662.95
	x	Class A-10	$	0.00	$	55,045,662.95
	xi	Class A-11	$	0.00	$	55,045,662.95
	xii	Class B	$	0.00	$	55,045,662.95

	xiii	Total Noteholder's Interest Distribution	$	4,642,490.62
F	*Noteholder's Principal Distribution Amount Paid (or set aside)**
	i	Class A-1	$	33,976,310.91	$	21,069,352.04
	ii	Class A-2	$	0.00	$	21,069,352.04
	iii	Class A-3	$	0.00	$	21,069,352.04
	iv	Class A-4	$	0.00	$	21,069,352.04
	v	Class A-5 US Dollar Equivalent to the Swap Counterparty		—	$	21,069,352.04
	vi	Class A-6	$	0.00	$	21,069,352.04
	vii	Class A-7	$	0.00	$	21,069,352.04
	viii	Class A-8	$	0.00	$	21,069,352.04
	ix	Class A-9	$	0.00	$	21,069,352.04
	x	Class A-10	$	0.00	$	21,069,352.04
	xi	Class A-11	$	0.00	$	21,069,352.04
	xii	Class B	$	0.00	$	21,069,352.04

	xiii	Total Noteholder's Principal Distribution	$	33,976,310.91
G	Increase to the Specified Reserve Account Balance		$	0.00	$	21,069,352.04
H	Carryover Servicing Fees		$	0.00	$	21,069,352.04
I	Noteholder's Interest Carryover
	i	Class A-1	$	0.00	$	21,069,352.04
	ii	Class A-2	$	0.00	$	21,069,352.04
	iii	Class A-3	$	0.00	$	21,069,352.04
	iv	Class A-4	$	0.00	$	21,069,352.04
	v	Class A-5	$	0.00	$	21,069,352.04
	vi	Class A-6	$	0.00	$	21,069,352.04
	vii	Class A-7	$	0.00	$	21,069,352.04
	viii	Class A-8	$	0.00	$	21,069,352.04
	ix	Class A-9	$	0.00	$	21,069,352.04
	x	Class A-10	$	0.00	$	21,069,352.04
	xi	Class A-11	$	0.00	$	21,069,352.04
	xii	Class B	$	0.00	$	21,069,352.04

	xiii	Total Noteholder's Interest Carryover	$	0.00
J	Excess Distribution Release to Certificateholders		$	21,069,352.04	$	0.00

*: Principal allocable to Auction Rate Securities not payable on the distribution date is paid to the Future Distribution Account for payment on the related Auction Rate Distribution date.

XII. 2002-7 Distributions

A	Distribution Amounts		Class A-1			Class A-2		Class A-3		Class A-4		Class A-5		Class A-6		Class A-7		Class A-8		Class A-9		Class A-10		Class A-11		Class B
	i	Quarterly Interest Due	$	432,072.66		$	753,109.05	$	676,617.67	$	752,607.73	$	2,028,083.51	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	ii	Quarterly Interest Paid		432,072.66			753,109.05	$	676,617.67	$	752,607.73	$	2,028,083.51	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00		0.00

	iii	Interest Shortfall	$	0.00		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	iv	Interest Carryover Due	$	0.00		$	0.00	$	0.00	$	0.00		0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	v	Interest Carryover Paid		0.00			0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

	vi	Interest Carryover	$	0.00		$	0.00	$	0.00	$	0.00		0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	vii	Quarterly Principal Due	$	33,976,310.91		$	0.00	$	0.00	$	0.00		0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	viii	Quarterly Principal Paid (or set aside)		33,976,310.91			0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

	ix	Quarterly Principal Shortfall	$	(0.00	)	$	0.00	$	0.00	$	0.00		0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

	x	Total Distribution Amount	$	34,408,383.57		$	753,109.05	$	676,617.67	$	752,607.73		2,028,083.51	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

B	Principal Distribution Reconciliation
	i	Notes Outstanding Principal Balance 5/31/03	$	1,929,993,322.02
	ii	Adjusted Pool Balance 5/31/03		1,896,017,011.11

	iii	Notes Outstanding Exceeding Pool Balance (i-ii)	$	33,976,310.91

	iv	Adjusted Pool Balance 2/28/03	$	1,929,993,322.02
	v	Adjusted Pool Balance 5/31/03		1,896,017,011.11

	vi	Current Principal Due (iv-v)	$	33,976,310.91
	vii	Notes Issued Exceeding Adjusted Pool Balance		—

	viii	Principal Distribution Amount (vi + vii)	$	33,976,310.91

	ix	Principal Distribution Amount Paid or Set Aside	$	33,976,310.91
	x	Principal Shortfall (viii-ix)	$	(0.00	)
C		Total Principal Distribution	$	33,976,310.91
D		Total Interest Distribution		4,642,490.62

E		Total Cash Distributions	$	38,618,801.53

F	Note Balances			3/17/2003		6/16/2003		Balance		Next ARS Pay Date
	i	A-1 Note Balance	78442GEM4	$	135,793,322.02	$	101,817,011.11
		A-1 Note Pool Factor			0.6740126174		0.5053705818
	ii	A-2 Note Balance	78442GEN2	$	229,400,000.00	$	229,400,000.00
		A-2 Note Pool Factor			1.0000000000		1.0000000000
	iii	A-3 Note Balance	78442GEP7	$	198,460,000.00	$	198,460,000.00
		A-3 Note Pool Factor			1.0000000000		1.0000000000
	iv	A-4 Note Balance	78442GEQ5	$	206,940,000.00	$	206,940,000.00
		A-4 Note Pool Factor			1.0000000000		1.0000000000
	v	A-5 Note Balance	XS0158197821		500,000,000.00	$	500,000,000.00
		A-5 Note Pool Factor			1.000000000		1.000000000
	vi	A-6 Note Balance	78442GES1	$	94,550,000.00	$	94,550,000.00	$	94,550,000.00	07/08/03
		A-6 Note Pool Factor			1.000000000		1.000000000		1.000000000
	vii	A-7 Note Balance	78442GET9	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	06/20/03
		A-7 Note Pool Factor			1.000000000		1.000000000		1.000000000
	viii	A-8 Note Balance	78442GEU6	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	06/27/03
		A-8 Note Pool Factor			1.000000000		1.000000000		1.000000000
	ix	A-9 Note Balance	78442GEV4	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	07/01/03
		A-9 Note Pool Factor			1.000000000		1.000000000		1.000000000
	x	A-10 Note Balance	78442GEW2	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	06/25/03
		A-10 Note Pool Factor			1.000000000		1.000000000		1.000000000
	xi	A-11 Note Balance	78442GEX0	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	07/10/03
		A-11 Note Pool Factor			1.000000000		1.000000000		1.000000000
	v	B Note Balance	78442GEY8	$	59,850,000.00	$	59,850,000.00	$	59,850,000.00	07/08/03
		B Note Pool Factor			1.0000000000		1.0000000000		1.000000000

G	Reserve Account Reconciliation
	i	Beginning of Period Balance	$	4,812,950.93
	ii	Deposits to correct Shortfall	$	—
	iii	Total Reserve Account Balance Available	$	4,812,950.93

	iv	Required Reserve Account Balance	$	4,728,221.97
	vi	Shortfall Carried to Next Period	$	—
	vii	Excess Reserve — Release to Waterfall	$	84,728.96
	viii	Ending Reserve Account Balance	$	4,728,221.97

XIII. 2002-7 Historical Pool Information

			3/1/03-5/31/03			11/26/02-2/28/02
Beginning Student Loan Portfolio Balance			$	1,916,165,276.58		$	1,966,111,167.94

	Student Loan Principal Activity
i		Regular Principal Collections	$	31,742,029.82		$	49,506,956.08
ii		Principal Collections from Guarantor		5,914,112.70			1,165,287.06
iii		Principal Reimbursements		7,494,761.77			21,937,270.22
iv		Other System Adjustments		—			—

v		Total Principal Collections	$	45,150,904.29		$	72,609,513.36
	Student Loan Non-Cash Principal Activity
i		Other Adjustments	$	616,457.87		$	1,683,851.02
ii		Capitalized Interest		(11,255,776.54	)		(24,347,473.02	)

iii		Total Non-Cash Principal Activity	$	(10,639,318.67	)	$	(22,663,622.00	)

(-) Total Student Loan Principal Activity			$	34,511,585.62		$	49,945,891.36

	Student Loan Interest Activity
i		Regular Interest Collections	$	22,079,576.81		$	44,674,185.75
ii		Interest Claims Received from Guarantors		447,897.20			32,792.91
iii		Collection Fees		738.31			726.75
iv		Late Fee Reimbursements		233,973.45			454,692.11
v		Interest Reimbursements		61,969.42			310,994.96
vi		Other System Adjustments		—			—
vii		Special Allowance Payments		12.17			—
viii		Subsidy Payments		782,499.73			1,592,487.63

ix		Total Interest Collections	$	23,606,667.09		$	47,065,880.11
	Student Loan Non-Cash Interest Activity
i		Interest Accrual Adjustment	$	(546,479.28	)	$	(1,671,814.10	)
ii		Capitalized Interest		11,255,776.54			24,347,473.02

iii		Total Non-Cash Interest Adjustments	$	10,709,297.26		$	22,675,658.92

	Total Student Loan Interest Activity		$	34,315,964.35		$	69,741,539.03
(=) Ending Student Loan Portfolio Balance			$	1,881,653,690.96		$	1,916,165,276.58

(+) Interest to be Capitalized			$	9,635,098.18		$	9,015,094.51

(=) TOTAL POOL			$	1,891,288,789.14		$	1,925,180,371.09

(+) Reserve Account Balance			$	4,728,221.97		$	4,812,950.93

(=) Total Adjusted Pool			$	1,896,017,011.11		$	1,929,993,322.02

XIV. 2002-7 Payment History and CPRs

Distribution Date		Actual Pool Balances			Since Issued CPR *
Mar-03		$	1,925,180,371		5.09	%
Jun-03		$	1,891,288,789		5.41	%

*: "Since Issued CPR" is based on the current period's ending pool balance calculated against the original pool balance and assuming cutoff date pool data.

SLM Student Loan Trust 2002-8

Quarterly Servicing Report
Report Date:		5/31/2003		Reporting Period: 03/01/03-05/31/03

I. Deal Parameters

	Student Loan Portfolio Characteristics		2/28/2003			Activity			5/31/2003
A	i	Portfolio Balance	$	1,082,961,365.44		$	(41,221,030.90	)	$	1,041,740,334.54
	ii	Interest to be Capitalized		33,568,088.21						35,695,759.50

	iii	Total Pool	$	1,116,529,453.65					$	1,077,436,094.04
	iv	Specified Reserve Account Balance		2,791,323.63						2,693,590.24

	v	Total Adjusted Pool	$	1,119,320,777.28					$	1,080,129,684.28

B	i	Weighted Average Coupon (WAC)		3.989	%					3.985	%
	ii	Weighted Average Remaining Term		124.69						122.32
	iii	Number of Loans		278,461						270,216
	iv	Number of Borrowers		130,735						127,694
	v	Aggregate Outstanding Principal Balance—T-Bill	$	640,928,847.72					$	608,958,646.93
	vi	Aggregate Outstanding Principal Balance—Commercial Paper	$	475,600,605.93					$	468,477,447.11

	Notes			Spread		Balance 03/17/03		% of O/S Securities		Balance 06/16/03		% of O/S Securities
C	i	A-1 Notes	78442GEZ5	0.020	%	$	130,787,013.37	11.618	%	$	89,987,979.58	8.294	%
	ii	A-2 Notes	78442GFA9	0.040	%		368,000,000.00	32.689	%		368,000,000.00	33.919	%
	iii	A-3 Notes	78442GFB7	0.100	%		173,000,000.00	15.368	%		173,000,000.00	15.945	%
	iv	A-4 Notes	78442GFC5	0.200	%		418,503,000.00	37.175	%		418,503,000.00	38.573	%
	vi	B Notes	78442GFD3	0.500	%		35,459,000.00	3.150	%		35,459,000.00	3.268	%

	vii	Total Notes				$	1,125,749,013.37	100.000	%	$	1,084,949,979.58	100.000	%

	Reserve Account		3/17/2003			6/16/2003
D	i	Required Reserve Acct Deposit (%)		0.25	%		0.25	%
	ii	Reserve Acct Initial Deposit ($)
	iii	Specified Reserve Acct Balance ($)	$	2,791,323.63		$	2,693,590.24
	iv	Reserve Account Floor Balance ($)	$	1,170,259.00		$	1,170,259.00
	v	Current Reserve Acct Balance ($)	$	2,791,323.63		$	2,693,590.24

		Capitalized Interest Account				3/17/2003			6/16/2003
E		i		Current Capitalized Interest Account Balance ($)		$	5,012,362.09		$	5,027,000.31

II. 2002-8 Transactions from: 2/28/2003 through: 5/31/2003

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	32,097,703.73
	ii	Principal Collections from Guarantor		567,257.90
	iii	Principal Reimbursements		10,651,856.64
	iv	Other System Adjustments		0.00

	v	Total Principal Collections	$	43,316,818.27
B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	991,801.65
	ii	Capitalized Interest		(3,087,589.02	)

	iii	Total Non-Cash Principal Activity	$	(2,095,787.37	)
C	Total Student Loan Principal Activity		$	41,221,030.90

D	Student Loan Interest Activity
	i	Regular Interest Collections	$	2,821,119.33
	ii	Interest Claims Received from Guarantors		9,981.43
	iii	Collection Fees/Returned Items		5,738.37
	iv	Late Fee Reimbursements		76,462.57
	v	Interest Reimbursements		119,008.25
	vi	Other System Adjustments		0.00
	vii	Special Allowance Payments		8,485.52
	viii	Subsidy Payments		532,605.16

	ix	Total Interest Collections	$	3,573,400.63
E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustment	$	(912,648.47	)
	ii	Capitalized Interest		3,087,589.02

	iii	Total Non-Cash Interest Adjustments	$	2,174,940.55
F	Total Student Loan Interest Activity		$	5,748,341.18

G.	Non-Reimbursable Losses During Collection Period		$	88.97
H.	Cumulative Non-Reimbursable Losses to Date		$	42,128.04

III. 2002-8 Collection Account Activity 2/28/2003 through 5/31/2003

A	Principal Collections
	i	Principal Payments Received—Cash	$	9,315,141.19
	ii	Cash Consolidation Principal Payments	$	23,349,820.44
	iii	Cash Forwarded by Administrator on behalf of Seller		1,144,845.78
	iv	Cash Forwarded by Administrator on behalf of Servicer		15,903.46
	v	Cash Forwarded by Administrator for Consolidation Activity		9,491,107.40

	vi	Total Principal Collections	$	43,316,818.27
B	Interest Collections
	i	Interest Payments Received—Cash	$	2,524,593.71
	ii	Cash Consolidation Interest Payments	$	847,597.73
	iii	Cash Forwarded by Administrator on behalf of Seller		20,301.28
	iv	Cash Forwarded by Administrator on behalf of Servicer		370.79
	v	Cash Forwarded by Administrator for Consolidation Activity		98,336.18
	vi	Collection Fees/Returned Items		5,738.37
	vii	Cash Forwarded by Administrator for Late Fee Activity		76,462.57

	viii	Total Interest Collections	$	3,573,400.63
C	Other Reimbursements		$	47,075.97
D	Reserves in Excess of the Requirement		$	97,733.39
E	Swap Payments Received from Counterparties		$	—
F	Administrator Account Investment Income		$	28,888.22
G	Investment Earnings for Period in Trust Accounts		$	76,852.20
H	Funds Released from Capitalized Interest Account		$	—
I	Return funds borrowed for previous distribution		$	—
	TOTAL AVAILABLE FUNDS		$	47,140,768.68
	LESS FUNDS PREVIOUSLY REMITTED: Servicing Fees		$	(1,610,616.42	)

J	NET AVAILABLE FUNDS		$	45,530,152.26

K	Servicing Fees Due for Current Period		$	787,266.74

Less:

Servicing ADJ [A iv + B iv]

(16,274.25

)

Carryover Servicing Fees Due

—

M	Administration Fees Due	$	20,000.00

N	Total Fees Due for Period	$	790,992.49

IV. 2002-8 Portfolio Characteristics

			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			2/28/2003		5/31/2003		2/28/2003	5/31/2003	2/28/2003		5/31/2003		2/28/2003		5/31/2003		2/28/2003		5/31/2003
INTERIM:
	In School
		Current	3.493	%	3.495	%	116,651	92,395	41.891	%	34.193	%	$	425,864,264.58	$	326,047,538.09	39.324	%	31.299	%
	Grace
		Current	3.496	%	3.491	%	26,944	45,390	9.676	%	16.798	%	$	83,495,008.10	$	165,968,629.24	7.710	%	15.932	%

TOTAL INTERIM			3.494	%	3.494	%	143,595	137,785	51.567	%	50.991	%	$	509,359,272.68	$	492,016,167.33	47.034	%	47.230	%

REPAYMENT
	Active
		Current	4.808	%	4.770	%	59,366	60,808	21.320	%	22.503	%	$	180,938,162.14	$	173,651,805.19	16.708	%	16.669	%
		31-60 Days Delinquent	4.676	%	4.653	%	4,381	3,984	1.573	%	1.474	%	$	18,599,679.72	$	13,103,648.74	1.717	%	1.258	%
		61-90 Days Delinquent	4.692	%	4.667	%	1,510	2,352	0.542	%	0.870	%	$	6,997,030.30	$	8,236,482.32	0.646	%	0.791	%
		91-120 Days Delinquent	5.120	%	4.676	%	863	1,815	0.310	%	0.672	%	$	2,569,016.01	$	6,974,341.46	0.237	%	0.669	%
		› 120 Days Delinquent	4.967	%	4.895	%	908	1,787	0.326	%	0.661	%	$	2,531,624.28	$	5,688,055.81	0.234	%	0.546	%
Deferment
	Current		3.960	%	3.956	%	39,236	34,049	14.090	%	12.601	%	$	208,813,262.23	$	187,014,769.54	19.282	%	17.952	%
Forbearance
	Current		4.609	%	4.599	%	28,510	27,511	10.238	%	10.181	%	$	152,743,819.86	$	154,701,641.57	14.104	%	14.850	%

TOTAL REPAYMENT			4.443	%	4.440	%	134,774	132,306	48.400	%	48.962	%	$	573,192,594.54	$	549,370,744.63	52.928	%	52.735	%

	Claims in Process (1)		4.656	%	4.630	%	92	125	0.033	%	0.046	%	$	409,498.22	$	353,422.58	0.038	%	0.034	%
	Aged Claims Rejected (2)		0.000	%	0.000	%	—	—	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

GRAND TOTAL			3.989	%	3.985	%	278,461	270,216	100.000	%	100.000	%	$	1,082,961,365.44	$	1,041,740,334.54	100.000	%	100.000	%

(1): Claims filed and unpaid; includes claims rejected aged less than 6 months.
(2): Claims rejected (subject to cure) aged 6 months or more; also includes claims deemed incurable pending repurchase.
*: Percentages may not total 100% due to rounding.

V. 2002-8 Portfolio Characteristics by School and Program

LOAN TYPE	WAC		# Loans	$ Amount		%
GSL—Unsubsidized	3.922	%	102,929	$	490,859,953.39	47.119	%
GSL—Subsidized	4.010	%	162,198		527,736,308.39	50.659	%
PLUS Loans	4.974	%	2,325		12,401,117.96	1.190	%
SLS Loans	5.397	%	2,764		10,742,954.80	1.031	%
Total	3.985	%	270,216	$	1,041,740,334.54	100.000	%
SCHOOL TYPE	WAC		# Loans	$ Amount		%
Four Year	4.006	%	220,003	$	926,621,640.59	88.949	%
Two Year	3.865	%	34,417		76,563,923.25	7.350	%
Technical	3.952	%	15,684		38,246,126.25	3.671	%
Other	5.913	%	112		308,644.45	0.030	%
Total	3.985	%	270,216	$	1,041,740,334.54	100.000	%

*: Percentages may not total 100% due to rounding.

VI. 2002-8 Student Loan Rate Calculation and Floating Rate Swap Payments

			Class A-1		Class A-2		Class A-3		Class A-4		Class B
A	Borrower Interest Accrued During Collection Period										$	7,318,595.73
B	Interest Subsidy Payments Accrued During Collection Period											1,070,173.70
C	SAP Payments Accrued During Collection Period											0.00
D	INV Earnings Accrued for Collection Period (RESERVE, COLLECTION)											76,852.20
E	INV Earnings Accrued for Collection Period (CAPPED INT ACCT)											14,638.22
F	Investment Earnings (ADMINISTRATOR ACCOUNTS)											28,888.22

G	Net Expected Interest Collections										$	8,509,148.07
H	Student Loan Rate
	i	Days in Calculation Period										91
	ii	Days in Year										360
	iii	Net Expected Interest Collections									$	8,509,148.07
	iv	Primary Servicing Fee									$	2,397,883.16
	v	Administration Fee									$	20,000.00
	vi	Swap Fees									$	14,228.22
	vii	Total Pool Balance at Beginning of Collection Period									$	1,116,529,453.65
	viii	Student Loan Rate										2.15319%
I	Interest Rate Swap Calculations
	i	Swap Notional Amount	$	130,787,013.37	$	368,000,000.00	$	173,000,000.00	$	418,503,000.00	$	35,459,000.00
	ii	Note Interest Rate		1.27875%		1.29875%		1.35875%		1.45875%		1.75875%
	iii	Student Loan Rate		2.15319%		2.15319%		2.15319%		2.15319%		2.15319%
	iv	Excess Over Student Loan Rate (ii-iii)		0.00000%		0.00000%		0.00000%		0.00000%		0.00000%
	v	Swap Payments Due to Trust	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

	vi	Swap Payments Due to Counterparty (.005% per annum of swap notional)	$	1,653.00	$	4,651.11	$	2,186.53	$	5,289.41	$	448.16

VII. 2002-8 Accrued Interest Factors

		Accrued Int Factor	Accrual Period	Rate
A	Class A-1 Interest Rate	0.003232396	03/17/03 - 06/16/03	1.27875	%
B	Class A-2 Interest Rate	0.003282951	03/17/03 - 06/16/03	1.29875	%
C	Class A-3 Interest Rate	0.003434618	03/17/03 - 06/16/03	1.35875	%
D	Class A-4 Interest Rate	0.003687396	03/17/03 - 06/16/03	1.45875	%
F	Class B Interest Rate	0.004445729	03/17/03 - 06/16/03	1.75875	%

VIII. 2002-8 Inputs From Original Data 2/28/03

A	Total Student Loan Pool Outstanding
	i	Portfolio Balance	$	1,082,961,365.44
	ii	Interest To Be Capitalized		33,568,088.21

	iii	Total Pool	$	1,116,529,453.65
	iv	Specified Reserve Account Balance		2,791,323.63

	v	Total Adjusted Pool	$	1,119,320,777.28

B	Total Note and Certificate Factor			0.95244095273
C	Total Note Balance		$	1,125,749,013.37

D	Note Balance 3/17/2003		Class A-1		Class A-2		Class A-3		Class A-4		Class B
	i	Current Factor		0.6993957934		1.0000000000		1.0000000000		1.0000000000		1.0000000000
	ii	Expected Note Balance	$	130,787,013.37	$	368,000,000.00	$	173,000,000.00	$	418,503,000.00	$	35,459,000.00

E	Note Principal Shortfall		$	6,428,236.09	$	0.00	$	0.00	$	0.00	$	0.00
F	Interest Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
G	Interest Carryover		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

H	Reserve Account Balance										$	2,791,323.63
I	Unpaid Primary Servicing Fees from Prior Month(s)										$	0.00
J	Unpaid Administration fees from Prior Quarter(s)										$	0.00
K	Unpaid Carryover Servicing Fees from Prior Quarter(s)										$	0.00
L	Interest Due on Unpaid Carryover Servicing Fees										$	0.00

IX. 2002-8 Waterfall for Distributions

					Remaining Funds Balance
A	Total Available Funds (Section III-J)		$	45,530,152.26	$	45,530,152.26
B	Primary Servicing Fees—Current Month		$	770,992.49	$	44,759,159.77
C	Administration Fee		$	20,000.00	$	44,739,159.77
D	Swap Fees
	i	Fixed Rate Swap Payment	$	4,742.74	$	44,734,417.03
	ii	Fixed Rate Swap Payment	$	4,742.74	$	44,729,674.29
	iii	Fixed Rate Swap Payment	$	4,742.74	$	44,724,931.55

		Total Swap Fee	$	14,228.22
E	Noteholder's Interest Distribution Amount
	i	Class A-1	$	422,755.40	$	44,302,176.15
	ii	Class A-2	$	1,208,126.11	$	43,094,050.04
	iii	Class A-3	$	594,188.92	$	42,499,861.12
	iv	Class A-4	$	1,543,186.22	$	40,956,674.90
	vi	Class B	$	157,641.11	$	40,799,033.79

	vii	Total Noteholder's Interest Distribution	$	3,925,897.76
F	Noteholder's Principal Distribution Amount Paid
	i	Class A-1	$	40,799,033.79	$	0.00
	ii	Class A-2	$	0.00	$	0.00
	iii	Class A-3	$	0.00	$	0.00
	iv	Class A-4	$	0.00	$	0.00
	vi	Class B	$	0.00	$	0.00

	vii	Total Noteholder's Principal Distribution	$	40,799,033.79
G	Increase to the Specified Reserve Account Balance		$	0.00	$	0.00
H	Floating Rate Swap Payment Reimbursement		$	0.00	$	0.00
I	Carryover Servicing Fees		$	0.00	$	0.00
J	Excess to Certificate Holder		$	0.00	$	0.00

X. 2002-8 Distributions

A	Distribution Amounts		Class A-1		Class A-2		Class A-3		Class A-4		Class B
	i	Quarterly Interest Due	$	422,755.40	$	1,208,126.11	$	594,188.92	$	1,543,186.22	$	157,641.11
	ii	Quarterly Interest Paid		422,755.40		1,208,126.11	$	594,188.92	$	1,543,186.22		157,641.11

	iii	Interest Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	vii	Quarterly Principal Due	$	45,619,329.09	$	0.00	$	0.00	$	0.00	$	0.00
	viii	Quarterly Principal Paid		40,799,033.79		0.00		0.00		0.00		0.00

	ix	Quarterly Principal Shortfall	$	4,820,295.30	$	0.00	$	0.00	$	0.00	$	0.00

	x	Total Distribution Amount	$	41,221,789.19	$	1,208,126.11	$	594,188.92	$	1,543,186.22	$	157,641.11

B	Principal Distribution Reconciliation
	i	Notes Outstanding Principal Balance 5/31/03	$	1,125,749,013.37
	ii	Adjusted Pool Balance 5/31/03		1,080,129,684.28

	iii	Adjusted Pool Exceeding Notes Balance (i-ii)	$	45,619,329.09

	iv	Adjusted Pool Balance 2/28/03	$	1,119,320,777.28
	v	Adjusted Pool Balance 5/31/03		1,080,129,684.28

	vi	Current Principal Due (iv-v)	$	39,191,093.00
	vii	Principal Shortfall from Previous Collection Period		6,428,236.09

	viii	Principal Distribution Amount (vi + vii)	$	45,619,329.09

	ix	Principal Distribution Amount Paid	$	40,799,033.79
	x	Principal Shortfall (viii-ix)	$	4,820,295.30
C		Total Principal Distribution	$	40,799,033.79
D		Total Interest Distribution		3,925,897.76

E		Total Cash Distributions	$	44,724,931.55

F	Note Balances			3/17/2003		6/16/2003
	i	A-1 Note Balance	78442GEZ5	$	130,787,013.37	$	89,987,979.58
		A-1 Note Pool Factor			0.6993957934		0.4812191421
	ii	A-2 Note Balance	78442GFA9	$	368,000,000.00	$	368,000,000.00
		A-2 Note Pool Factor			1.0000000000		1.0000000000
	iii	A-3 Note Balance	78442GFB7	$	173,000,000.00	$	173,000,000.00
		A-3 Note Pool Factor			1.0000000000		1.0000000000
	iv	A-4 Note Balance	78442GFC5	$	418,503,000.00	$	418,503,000.00
		A-4 Note Pool Factor			1.0000000000		1.0000000000
	vi	B Note Balance	78442GFD3	$	35,459,000.00	$	35,459,000.00
		B Note Pool Factor			1.0000000000		1.0000000000

G	Reserve Account Reconciliation
	i	Beginning of Period Balance	$	2,791,323.63
	ii	Deposits to correct Shortfall	$	—
	iv	Total Reserve Account Balance Available	$	2,791,323.63
	v	Required Reserve Account Balance	$	2,693,590.24
	vi	Shortfall Carried to Next Period	$	—
	vii	Excess Reserve — Release to Waterfall	$	97,733.39
	viii	Ending Reserve Account Balance	$	2,693,590.24

XI. 2002-8 Historical Pool Information

			03/01/03-05/31/03			11/25/02-02/28/03
Beginning Student Loan Portfolio Balance			$	1,082,961,365.44		$	1,135,254,917.81

	Student Loan Principal Activity
i		Regular Principal Collections	$	32,097,703.73		$	30,275,737.09
ii		Principal Collections from Guarantor		567,257.90			208,395.13
iii		Principal Reimbursements		10,651,856.64			27,628,341.57
iv		Other System Adjustments		—			—

v		Total Principal Collections	$	43,316,818.27		$	58,112,473.79
	Student Loan Non-Cash Principal Activity
i		Other Adjustments	$	991,801.65		$	1,946,299.27
ii		Capitalized Interest		(3,087,589.02	)		(7,765,220.69	)

iii		Total Non-Cash Principal Activity	$	(2,095,787.37	)	$	(5,818,921.42	)

(-) Total Student Loan Principal Activity			$	41,221,030.90		$	52,293,552.37

	Student Loan Interest Activity
i		Regular Interest Collections	$	2,821,119.33		$	2,800,442.90
ii		Interest Claims Received from Guarantors		9,981.43			1,497.09
iii		Collection Fees/Returned Items		5,738.37			4,446.71
iv		Late Fee Reimbursements		76,462.57			66,265.42
v		Interest Reimbursements		119,008.25			624,144.71
vi		Other System Adjustments		—			—
vii		Special Allowance Payments		8,485.52			—
viii		Subsidy Payments		532,605.16			897,423.71

ix		Total Interest Collections	$	3,573,400.63		$	4,394,220.54
	Student Loan Non-Cash Interest Activity
i		Interest Accrual Adjustment	$	(912,648.47	)	$	(1,890,275.00	)
ii		Capitalized Interest		3,087,589.02			7,765,220.69

iii		Total Non-Cash Interest Adjustments	$	2,174,940.55		$	5,874,945.69

	Total Student Loan Interest Activity		$	5,748,341.18		$	10,269,166.23
(=) Ending Student Loan Portfolio Balance			$	1,041,740,334.54		$	1,082,961,365.44

(+) Interest to be Capitalized			$	35,695,759.50		$	33,568,088.21

(=) TOTAL POOL			$	1,077,436,094.04		$	1,116,529,453.65

(+) Reserve Account Balance			$	2,693,590.24		$	2,791,323.63

(=) Total Adjusted Pool			$	1,080,129,684.28		$	1,119,320,777.28

XII. 2002-8 Payment History and CPRs

Distribution Date		Actual Pool Balances			Since Issued CPR *
Mar-03		$	1,116,529,454		13.00	%
Jun-03		$	1,077,436,094		12.60	%

*: "Since Issued CPR" is based on the current period's ending pool balance calculated against the original pool balance and assuming cutoff date pool data.

SLM Student Loan Trust 2003-1

Quarterly Servicing Report
Report Date:		5/31/2003		Reporting Period: 03/01/03-05/31/03

I. Deal Parameters

	Student Loan Portfolio Characteristics		2/28/2003			Activity			5/31/2003
A	i	Portfolio Balance	$	2,012,590,208.65		$	(28,424,488.93	)	$	1,984,165,719.72
	ii	Interest to be Capitalized		10,327,821.90						10,546,659.16

	iii	Total Pool	$	2,022,918,030.55					$	1,994,712,378.88
	iv	Specified Reserve Account Balance		5,057,295.08						4,986,780.95

	v	Total Adjusted Pool	$	2,027,975,325.63					$	1,999,699,159.83

B	i	Weighted Average Coupon (WAC)		7.393	%					7.391	%
	ii	Weighted Average Remaining Term		266.88						265.62
	iii	Number of Loans		100,909						99,432
	iv	Number of Borrowers		62,005						60,934
	v	Aggregate Outstanding Principal Balance—T-Bill	$	399,350,399.54					$	390,104,342.37
	vi	Aggregate Outstanding Principal Balance—Commercial Paper	$	1,623,567,631.01					$	1,604,608,036.51

	Notes and Certificates			Spread		Balance 03/17/03		% of O/S Securities		Balance 06/16/03		% of O/S Securities
C	i	A-1 Notes	78442GFE1	0.020	%	$	164,045,325.63	8.089	%	$	135,769,159.83	6.789	%
	ii	A-2 Notes	78442GFF8	0.040	%		231,000,000.00	11.391	%		231,000,000.00	11.552	%
	iii	A-3 Notes	78442GFG6	0.110	%		211,000,000.00	10.405	%		211,000,000.00	10.552	%
	iv	A-4 Notes	78442GFH4	0.190	%		197,000,000.00	9.714	%		197,000,000.00	9.852	%
	v	A-5A Notes	78442GFK7	—			332,650,000.00	16.403	%		332,650,000.00	16.635	%
	vi	A-5B Notes	78442GFL5	0.160	%		430,000,000.00	21.203	%		430,000,000.00	21.503	%
	vii	A-5C Notes	78442GFM3	0.250	%		400,000,000.00	19.724	%		400,000,000.00	20.003	%
	viii	B Notes	78442GFJ0	0.600	%		62,280,000.00	3.071	%		62,280,000.00	3.114	%

	ix	Total Notes				$	2,027,975,325.63	100.000	%	$	1,999,699,159.83	100.000	%

	Reserve Account		3/17/2003			6/16/2003
D	i	Required Reserve Acct Deposit (%)		0.25	%		0.25	%
	ii	Reserve Acct Initial Deposit ($)	$	—		$	—
	iii	Specified Reserve Acct Balance ($)	$	5,057,295.08		$	4,986,780.95
	iv	Reserve Account Floor Balance ($)	$	3,083,057.00		$	3,083,057.00
	v	Current Reserve Acct Balance ($)	$	5,057,295.08		$	4,986,780.95

	Other Accounts		3/17/2003		6/16/2003
E	i	Remarketing Fee Account	$	4,069,275.00	$	4,069,275.00
	ii	Capitalized Interest Account	$	23,773,195.75	$	23,842,621.26
	iii	Principal Accumulation Account (A-5A)	$	—	$	—
	iv	Supplemental Interest Account (A-5A)	$	—	$	—

II. 2003-1 Transactions from: 2/28/2003 through: 5/31/2003

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	29,569,148.82
	ii	Principal Collections from Guarantor		2,325,326.04
	iii	Principal Reimbursements		10,083,723.49
	iv	Other System Adjustments		0.00

	v	Total Principal Collections	$	41,978,198.35
B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	585,089.69
	ii	Capitalized Interest		(14,138,799.11	)

	iii	Total Non-Cash Principal Activity	$	(13,553,709.42	)
C	Total Student Loan Principal Activity		$	28,424,488.93

D	Student Loan Interest Activity
	i	Regular Interest Collections	$	21,001,285.70
	ii	Interest Claims Received from Guarantors		86,060.01
	iii	Collection Fees/Returned Items		712.92
	iv	Late Fee Reimbursements		233,008.40
	v	Interest Reimbursements		90,549.00
	vi	Other System Adjustments		0.00
	vii	Special Allowance Payments		0.00
	viii	Subsidy Payments		584,057.41

	ix	Total Interest Collections	$	21,995,673.44
E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustment	$	(571,480.07	)
	ii	Capitalized Interest		14,138,799.11

	iii	Total Non-Cash Interest Adjustments	$	13,567,319.04
F	Total Student Loan Interest Activity		$	35,562,992.48

G.	Non-Reimbursable Losses During Collection Period		$	12,159.12
H.	Cumulative Non-Reimbursable Losses to Date		$	12,159.12

III. 2003-1 Collection Account Activity 2/28/2003 through 5/31/2003

A	Principal Collections
	i	Principal Payments Received—Cash	$	24,177,951.68
	ii	Cash Consolidation Principal Payments	$	7,716,523.18
	iii	Cash Forwarded by Administrator on behalf of Seller		277,773.20
	iv	Cash Forwarded by Administrator on behalf of Servicer		(32.21	)
	v	Cash Forwarded by Administrator for Consolidation Activity		9,805,982.50

	vi	Total Principal Collections	$	41,978,198.35
B	Interest Collections
	i	Interest Payments Received—Cash	$	21,594,298.45
	ii	Cash Consolidation Interest Payments	$	77,104.67
	iii	Cash Forwarded by Administrator on behalf of Seller		4,081.37
	iv	Cash Forwarded by Administrator on behalf of Servicer		(50.40	)
	v	Cash Forwarded by Administrator for Consolidation Activity		86,518.03
	vi	Collection Fees/Returned Items		712.92
	vii	Cash Forwarded by Administrator for Late Fee Activity		233,008.40

	viii	Total Interest Collections	$	21,995,673.44
C	Other Reimbursements		$	172,883.72
D	Reserves In Excess of the Requirement		$	70,514.13
E	Reset Period Target Amount Excess		$	—
F	Interest Rate Cap Proceeds		$	—
G	Interest Rate Swap Proceeds		$	1,871,156.25
H	Administrator Account Investment Income		$	33,783.36
I	Trust Account Investment Income		$	112,958.21
J	Funds Released from Capitalized Interest Account		$	—
	TOTAL AVAILABLE FUNDS		$	66,235,167.46
	LESS FUNDS PREVIOUSLY REMITTED: Servicing Fees		$	(1,673,850.05	)
	Consolidation Loan Rebate Fees		$	(5,183,271.00	)

K	NET AVAILABLE FUNDS		$	59,378,046.41

L	Servicing Fees Due for Current Period		$	830,538.81

Less:

Servicing ADJ [A iv + B iv]

82.61

Carryover Servicing Fees Due

—

N	Administration Fees Due	$	25,000.00

O	Total Fees Due for Period	$	855,621.42

IV. 2003-1 Portfolio Characteristics

			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			2/28/2003		5/31/2003		2/28/2003	5/31/2003	2/28/2003		5/31/2003		2/28/2003		5/31/2003		2/28/2003		5/31/2003
INTERIM:
	In School
		Current	0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%
	Grace
		Current	0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

		TOTAL INTERIM	0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

REPAYMENT
	Active
		Current	7.351	%	7.341	%	66,478	66,405	65.880	%	66.785	%	$	1,251,765,840.41	$	1,242,393,915.67	62.196	%	62.615	%
		31-60 Days Delinquent	7.542	%	7.543	%	2,880	3,024	2.854	%	3.041	%	$	57,323,650.57	$	60,652,839.88	2.848	%	3.057	%
		61-90 Days Delinquent	7.704	%	7.685	%	1,291	1,123	1.279	%	1.129	%	$	27,604,424.34	$	22,384,019.34	1.372	%	1.128	%
		91-120 Days Delinquent	7.815	%	7.729	%	702	558	0.696	%	0.561	%	$	13,499,481.53	$	11,780,405.76	0.671	%	0.594	%
		› 120 Days Delinquent	7.978	%	8.045	%	1,037	863	1.028	%	0.868	%	$	22,880,611.48	$	19,995,437.07	1.137	%	1.008	%
Deferment
	Current		7.327	%	7.349	%	9,528	9,152	9.442	%	9.204	%	$	197,897,189.00	$	192,197,621.33	9.833	%	9.687	%
Forbearance
	Current		7.463	%	7.477	%	18,955	18,191	18.784	%	18.295	%	$	440,992,657.37	$	432,417,307.85	21.912	%	21.793	%

TOTAL REPAYMENT			7.393	%	7.391	%	100,871	99,316	99.963	%	99.884	%	$	2,011,963,854.70	$	1,981,821,546.90	99.969	%	99.882	%

	Claims in Process (1)		7.496	%	7.388	%	38	116	0.038	%	0.117	%	$	626,353.95	$	2,344,172.82	0.031	%	0.118	%
	Aged Claims Rejected (2)		0.000	%	0.000	%	—	—	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

GRAND TOTAL			7.393	%	7.391	%	100,909	99,432	100.000	%	100.000	%	$	2,012,590,208.65	$	1,984,165,719.72	100.000	%	100.000	%

(1): Claims filed and unpaid; includes claims rejected aged less than 6 months.
(2): Claims rejected (subject to cure) aged 6 months or more; also includes claims deemed incurable pending repurchase.
*: Percentages may not total 100% due to rounding.

V. 2003-1 Portfolio Characteristics by School and Program

SCHOOL TYPE	WAC		# Loans	$ Amount		%
Four Year	8.854	%	214	$	5,163,385.36	0.260	%
Two Year	8.937	%	17		214,633.92	0.011	%
Technical	8.740	%	29		324,387.24	0.016	%
Other	7.387	%	99,172		1,978,463,313.20	99.713	%
Total	7.391	%	99,432	$	1,984,165,719.72	100.000	%
100% of the Trust Student Loans are Consolidation Loans

*: Percentages may not total 100% due to rounding.

VI. 2003-1 Various Interest Accruals and Floating Rate Swap Payments

			Cap
A	Borrower Interest Accrued During Collection Period		$	35,137,019.04
B	Interest Subsidy Payments Accrued During Collection Period			1,251,810.61
C	SAP Payments Accrued During Collection Period			101.80
D	Investment Earnings Accrued for Collection Period (TRUST ACCOUNTS except CAP INT ACCT)			112,958.21
E	Investment Earnings Accrued for Collection Period (CAP INT ACCOUNTS)			69,425.51
F	Investment Earnings (ADMINISTRATOR ACCOUNTS)			33,783.36
G	Consolidation Loan Rebate Fees			(5,183,271.00	)

H	Net Expected Interest Collections		$	31,421,827.53
I	Interest Rate Cap Payments Due to the Trust
	i	Cap Notional Amount	$	600,000,000.00
	ii	Libor (3M)		1.25875%
	iii	Cap %		5.00000%
	iv	Excess Over Cap ( ii-iii)		0.00000%
	v	Cap Payments Due to the Trust	$	0.00

Interest Rate Swap on Fixed Rate Reset Notes

		A-5A Swap Calc		A-5B Swap Calc		A-5C Swap Calc
Swap Payments
i	Notional Swap Amount		332,650,000		—		—
SLM Student Loan Trust Pays:
iia	3 Month Libor		1.25875%		0.00000%		0.00000%
iib	Spread		0.123%		0.000%		0.000%

iic	Pay Rate		1.382%		0.000%		0.000%
iii	Gross Swap Payment Due Counterparty	$	1,161,865.65	$	0.00	$	0.00
iv	Days in Period 3/17/2003 6/16/2003		91		91		91
Counterparty Pays:
v	Fixed Rate Equal To Respective Reset Note Rate		2.25000%		0.00000%		0.00000%
vi	Gross Swap Receipt Due Trust	$	1,871,156.25	$	0.00	$	0.00
vii	Days in Period 3/15/2003 6/15/2003		90		90		90

VII. 2003-1 Accrued Interest Factors

		Accrued Int Factor	Accrual Period	Rate	Index
A	Class A-1 Interest Rate	0.003232396	(03/17/03-06/16/03)	1.27875%	LIBOR
B	Class A-2 Interest Rate	0.003282952	(03/17/03-06/16/03)	1.29875%	LIBOR
C	Class A-3 Interest Rate	0.003459896	(03/17/03-06/16/03)	1.36875%	LIBOR
D	Class A-4 Interest Rate	0.003662118	(03/17/03-06/16/03)	1.44875%	LIBOR
E	Class A-5A Interest Rate	0.005625000	(03/15/03-06/15/03)	2.25000%	Fixed
F	Class A-5B Interest Rate	0.003586285	(03/17/03-06/16/03)	1.41875%	LIBOR
G	Class A-5C Interest Rate	0.003813785	(03/17/03-06/16/03)	1.50875%	LIBOR
H	Class B Interest Rate	0.004698507	(03/17/03-06/16/03)	1.85875%	LIBOR

VIII. 2003-1 Inputs From Prior Quarter 2/28/2003

A	Total Student Loan Pool Outstanding
	i	Portfolio Balance	$	2,012,590,208.65
	ii	Interest To Be Capitalized		10,327,821.90

	iii	Total Pool	$	2,022,918,030.55
	iv	Specified Reserve Account Balance		5,057,295.08

	v	Total Adjusted Pool	$	2,027,975,325.63

B	Total Note and Certificate Factor			0.97689966696
C	Total Note Balance		$	2,027,975,325.63

D	Note Balance 3/17/2003		Class A-1		Class A-2		Class A-3		Class A-4		Class A-5A		Class A-5B		Class A-5C		Class B
	i	Current Factor		0.7737987058		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000
	ii	Expected Note Balance	$	164,045,325.63	$	231,000,000.00	$	211,000,000.00	$	197,000,000.00	$	332,650,000.00	$	430,000,000.00	$	400,000,000.00	$	62,280,000.00

E	Note Principal Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
F	Interest Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
G	Interest Carryover		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

H	Reserve Account Balance																$	5,057,295.08
I	Unpaid Primary Servicing Fees from Prior Month(s)																$	0.00
J	Unpaid Administration fees from Prior Quarter(s)																$	0.00
K	Unpaid Carryover Servicing Fees from Prior Quarter(s)																$	0.00
L	Interest Due on Unpaid Carryover Servicing Fees																$	0.00

IX. 2003-1 Remarketing Fee and Trigger Events

	Remarketing Fee Account Reconciliation	A-5A		A-5B		A-5C		Total
	Next Reset Date		6/15/2005		9/17/2007		9/15/2009
i	Reset Period Target Amount	$	1,164,275.00	$	1,505,000.00	$	1,400,000.00	$	4,069,275.00
ii	Remarketing Fee Account Balance (net of inv earnings)	$	1,164,275.00	$	1,505,000.00	$	1,400,000.00	$	4,069,275.00

iii	Quarterly Funding Amount	$	—	$	—	$	—	$	—

X. 2003-1 Trigger Events

A	Has Stepdown Date Occurred?		N
	The Stepdown Date is the earlier of (1) 12/15/2007 or (2) the first date on which no class A notes remain outstanding.
B	Note Balance Trigger		N
C	Cumulative Default Triggers
	Cumulative Prin Balance of Defaulted Loans	$	7,023,293.85
	Initial Pool Balance	$	2,055,371,512.04
	Cumulative Default Percentage		0.342	%
i	Dec 2007 - Sept 2008 (cumumlative default > 35%)		N
ii	Dec 2008 - Sept 2009 (cumumlative default > 40%)		N
iii	Dec 2009 - Sept 2010 (cumumlative default > 45%)		N
iv	Dec 2010 and thereafter (cumumlative default > 50%)		N
	Class A Percentage		100.00	%
	Class B Percentage		0.00	%

XI. 2003-1 Waterfall for Distributions

					Remaining Funds Balance
A	Total Available Funds (Section III-K)		$	59,378,046.41	$	59,378,046.41
B	Primary Servicing Fees—Current Month		$	830,621.42	$	58,547,424.99
C	Administration Fee		$	25,000.00	$	58,522,424.99
D	Aggregate Quarterly Funding Amount		$	0.00	$	58,522,424.99
E	Noteholder's Interest Distribution Amounts
	i	Class A-1	$	530,259.45	$	57,992,165.54
	ii	Class A-2	$	758,361.91	$	57,233,803.63
	iii	Class A-3	$	730,038.06	$	56,503,765.57
	iv	Class A-4	$	721,437.26	$	55,782,328.31
	v	Class A-5A	$	1,871,156.25	$	53,911,172.06
	vi	Class A-5B	$	1,542,102.55	$	52,369,069.51
	vii	Class A-5C	$	1,525,514.00	$	50,843,555.51
	viii	Interest Rate Swap Payment	$	1,161,865.65	$	49,681,689.86

		Total	$	8,840,735.13
F	Class B Noteholders' Interest Distribution Amount		$	292,623.01	$	49,389,066.85
G	*Noteholder's Principal Distribution Amounts Paid (or set aside)**
	i	Class A-1	$	28,276,165.80	$	21,112,901.05
	ii	Class A-2	$	0.00	$	21,112,901.05
	iii	Class A-3	$	0.00	$	21,112,901.05
	iv	Class A-4	$	0.00	$	21,112,901.05
	v	Class A-5A	$	0.00	$	21,112,901.05
	vi	Class A-5B	$	0.00	$	21,112,901.05
	vii	Class A-5C	$	0.00	$	21,112,901.05

		Total	$	28,276,165.80
H	Increase to Supplemental Interest Account		$	0.00	$	21,112,901.05
I	Class B Noteholder's Principal Distribution Amount		$	0.00	$	21,112,901.05
J	Increase to the Specified Reserve Account		$	0.00	$	21,112,901.05
K	Carryover Servicing Fees		$	0.00	$	21,112,901.05
L	Remarketing Costs in Excess of Remarketing Fee Account		$	0.00	$	21,112,901.05
M	Excess to Excess Distribution Certificate Holder		$	21,112,901.05	$	0.00

*: Amounts allocated to classes of fixed rate reset notes are deposited into their accumulation account for distribution on the next related reset date

XII. 2003-1 Distributions

A	Distribution Amounts		Class A-1		Class A-2		Class A-3		Class A-4		Class A-5A		Class A-5B		Class A-5C		Class B
	i	Quarterly Interest Due	$	530,259.45	$	758,361.91	$	730,038.06	$	721,437.26	$	1,871,156.25	$	1,542,102.55	$	1,525,514.00	$	292,623.01
	ii	Quarterly Interest Paid		530,259.45		758,361.91		730,038.06		721,437.26		1,871,156.25		1,542,102.55		1,525,514.00		292,623.01

	iii	Interest Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	vii	Quarterly Principal Due	$	28,276,165.80	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	viii	Quarterly Principal Paid		28,276,165.80		0.00		0.00		0.00		0.00		0.00		0.00		0.00

	ix	Quarterly Principal Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

	x	Total Distribution Amount	$	28,806,425.25	$	758,361.91	$	730,038.06	$	721,437.26	$	1,871,156.25	$	1,542,102.55	$	1,525,514.00	$	292,623.01

B	Principal Distribution Reconciliation
	i	Notes Outstanding Principal Balance 3/17/2003	$	2,027,975,325.63
	ii	Adjusted Pool Balance 5/31/2003		1,999,699,159.83

	iii	Adjusted Pool Exceeding Notes Balance (i-ii)	$	28,276,165.80

	iv	Adjusted Pool Balance 2/28/2003	$	2,027,975,325.63
	v	Adjusted Pool Balance 5/31/2003		1,999,699,159.83

	vi	Current Principal Due (iv-v)	$	28,276,165.80
	vii	Principal Shortfall from Prior Collection Period		—

	viii	Principal Distribution Amount (vi + vii)	$	28,276,165.80

	ix	Principal Distribution Amount Paid	$	28,276,165.80
	x	Principal Shortfall (viii-ix)	$	—
C	Total Principal Distribution		$	28,276,165.80
D	Total Interest Distribution			7,971,492.49

E	Total Cash Distributions		$	36,247,658.29

F	Reserve Account Reconciliation
	i	Beginning of Period Balance	$	5,057,295.08
	ii	Deposits to correct Shortfall	$	—
	iv	Total Reserve Account Balance Available	$	5,057,295.08
	v	Required Reserve Account Balance	$	4,986,780.95
	vi	Shortfall Carried to Next Period	$	—
	vii	Excess Reserve — Release to Waterfall	$	70,514.13
	viii	Ending Reserve Account Balance	$	4,986,780.95

G	Note Balances			3/17/2003		6/16/2003
	i	A-1 Note Balance	78442GFE1	$	164,045,325.63	$	135,769,159.83
		A-1 Note Pool Factor			0.7737987058		0.6404205652
	ii	A-2 Note Balance	78442GFF8	$	231,000,000.00	$	231,000,000.00
		A-2 Note Pool Factor			1.0000000000		1.0000000000
	iii	A-3 Note Balance	78442GFG6	$	211,000,000.00	$	211,000,000.00
		A-3 Note Pool Factor			1.0000000000		1.0000000000
	iv	A-4 Note Balance	78442GFH4	$	197,000,000.00	$	197,000,000.00
		A-4 Note Pool Factor			1.0000000000		1.0000000000
	v	A-5A Note Balance	78442GFK7	$	332,650,000.00		332,650,000.00
		A-5A Note Pool Factor			1.0000000000		1.0000000000
	vi	A-5B Note Balance	78442GFL5	$	430,000,000.00	$	430,000,000.00
		A-5B Note Pool Factor			1.0000000000		1.0000000000
	vii	A-5C Note Balance	78442GFM3	$	400,000,000.00	$	400,000,000.00
		A-5C Note Pool Factor			1.0000000000		1.0000000000
	viii	B Note Balance	78442GFJ0	$	62,280,000.00	$	62,280,000.00
		B Note Pool Factor			1.0000000000		1.0000000000

XIII. 2003-1 Historical Pool Information

			03/01/03-05/31/03			11/07/02 - 02/28/03
Beginning Student Loan Portfolio Balance			$	2,012,590,208.65		$	2,046,987,868.01

	Student Loan Principal Activity
i		Regular Principal Collections	$	29,569,148.82		$	30,639,821.96
ii		Principal Collections from Guarantor		2,325,326.04			1,415,411.02
iii		Principal Reimbursements		10,083,723.49			17,537,650.81
iv		Other System Adjustments		—			—

v		Total Principal Collections	$	41,978,198.35		$	49,592,883.79
	Student Loan Non-Cash Principal Activity
i		Other Adjustments	$	585,089.69		$	853,830.54
ii		Capitalized Interest		(14,138,799.11	)		(16,049,054.97	)

iii		Total Non-Cash Principal Activity	$	(13,553,709.42	)	$	(15,195,224.43	)

(-) Total Student Loan Principal Activity			$	28,424,488.93		$	34,397,659.36

	Student Loan Interest Activity
i		Regular Interest Collections	$	21,001,285.70		$	27,642,370.55
ii		Interest Claims Received from Guarantors		86,060.01			27,283.31
iii		Collection Fees/Returned Items		712.92			1,093.87
iv		Late Fee Reimbursements		233,008.40			305,557.25
v		Interest Reimbursements		90,549.00			155,040.57
vi		Other System Adjustments		—			—
vii		Special Allowance Payments		—			—
viii		Subsidy Payments		584,057.41			—

ix		Total Interest Collections	$	21,995,673.44		$	28,131,345.55
	Student Loan Non-Cash Interest Activity
i		Interest Accrual Adjustment	$	(571,480.07	)	$	(850,275.74	)
ii		Capitalized Interest		14,138,799.11			16,049,054.97

iii		Total Non-Cash Interest Adjustments	$	13,567,319.04		$	15,198,779.23

	Total Student Loan Interest Activity		$	35,562,992.48		$	43,330,124.78
(=) Ending Student Loan Portfolio Balance			$	1,984,165,719.72		$	2,012,590,208.65

(+) Interest to be Capitalized			$	10,546,659.16		$	10,327,821.90

(=) TOTAL POOL			$	1,994,712,378.88		$	2,022,918,030.55

(+) Reserve Account Balance			$	4,986,780.95		$	5,057,295.08

(=) Total Adjusted Pool			$	1,999,699,159.83		$	2,027,975,325.63

XIV. 2003-1 Payment History and CPRs

Distribution Date		Actual Pool Balances			Since Issued CPR *
Mar-03		$	2,022,918,031		5.17	%
Jun-03		$	1,994,712,379		5.18	%

*: "Since Issued CPR" is based on the current period's ending pool balance calculated against the original pool balance and assuming cutoff date pool data.

SLM Student Loan Trust 2003-2

Quarterly Servicing Report
Report Date:		5/31/2003		Reporting Period: 2/3/03-5/31/03

I. Deal Parameters

	Student Loan Portfolio Characteristics		2/3/2003			Activity			5/31/2003
A	i	Portfolio Balance	$	1,997,000,948.34		$	(41,123,433.41	)	$	1,955,877,514.93
	ii	Interest to be Capitalized		8,059,361.96						10,602,091.58

	iii	Total Pool	$	2,005,060,310.30					$	1,966,479,606.51
	iv	Specified Reserve Account Balance		5,012,651.00						4,916,199.02

	v	Total Adjusted Pool	$	2,010,072,961.30					$	1,971,395,805.53

B	i	Weighted Average Coupon (WAC)		7.260	%					7.257	%
	ii	Weighted Average Remaining Term		265.86						264.29
	iii	Number of Loans		101,096						99,456
	iv	Number of Borrowers		63,550						62,295
	v	Aggregate Outstanding Principal Balance—T-Bill	$	400,978,154.21					$	390,433,740.01
	vi	Aggregate Outstanding Principal Balance—Commercial Paper	$	1,604,082,156.09					$	1,576,045,866.50

	Notes			Spread		Balance 3/4/03		Balance 6/16/03
C	i	A-1 L Notes	78442GFN1	0.020	%	$	162,240,000.00	$	108,559,805.53
	ii	A-2 L Notes	78442GFP6	0.030	%	$	246,045,000.00	$	246,045,000.00
	iii	A-3 L Notes	78442GFQ4	0.100	%	$	263,529,000.00	$	263,529,000.00
	iv	A-4 L Notes	78442GFR2	0.190	%	$	288,861,000.00	$	288,861,000.00
	v	A-5 E Notes *	XS0163731846	0.260	%		588,000,000.00		588,000,000.00
	vi	A-6 ARS Notes	78442GFT8	ARS		$	66,550,000.00	$	66,550,000.00
	vii	A-7 ARS Notes	78442GFU5	ARS		$	100,000,000.00	$	100,000,000.00
	viii	A-8 ARS Notes	78442GFV3	ARS		$	100,000,000.00	$	100,000,000.00
	ix	A-9 ARS Notes	78442GFW1	ARS		$	100,000,000.00	$	100,000,000.00
	xii	B ARS Notes	78442GFX9	ARS		$	60,753,000.00	$	60,753,000.00

	Reserve Account		3/4/2003			6/16/2003
D	i	Required Reserve Acct Deposit (%)		0.25	%		0.25	%
	ii	Reserve Acct Initial Deposit ($)	$	5,012,651.00
	iii	Specified Reserve Acct Balance ($)				$	4,916,199.02
	iv	Reserve Account Floor Balance ($)	$	2,005,060.00		$	2,005,060.00
	v	Current Reserve Acct Balance ($)	$	5,012,651.00		$	4,916,199.02

		Capitalized Interest Account				3/4/2003			6/16/2003
E		i		Current Capitalized Interest Account Balance ($)		$	26,700,000.00		$	26,775,279.96

*: A-5 is denominated in Euros

II. 2003-2 Transactions from: 2/3/2003 through: 5/31/2003

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	34,012,926.19
	ii	Principal Collections from Guarantor		1,524,169.64
	iii	Principal Reimbursements		20,312,889.41
	iv	Other System Adjustments		0.00

	v	Total Principal Collections	$	55,849,985.24
B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	1,062,235.93
	ii	Capitalized Interest		(15,788,787.76	)

	iii	Total Non-Cash Principal Activity	$	(14,726,551.83	)
C	Total Student Loan Principal Activity		$	41,123,433.41

D	Student Loan Interest Activity
	i	Regular Interest Collections	$	26,838,182.63
	ii	Interest Claims Received from Guarantors		31,607.13
	iii	Collection Fees		3,053.75
	iv	Late Fee Reimbursements		299,700.20
	v	Interest Reimbursements		148,179.63
	vi	Other System Adjustments		0.00
	vii	Special Allowance Payments		0.00
	viii	Subsidy Payments		589,238.65

	ix	Total Interest Collections	$	27,909,961.99
E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustment	$	(947,078.79	)
	ii	Capitalized Interest		15,788,787.76

	iii	Total Non-Cash Interest Adjustments	$	14,841,708.97
F	Total Student Loan Interest Activity		$	42,751,670.96

G.	Non-Reimbursable Losses During Collection Period		$	0.00
H.	Cumulative Non-Reimbursable Losses to Date		$	—

III. 2003-2 Collection Account Activity 2/3/2003 through 5/31/2003

A	Principal Collections
	i	Principal Payments Received—Cash	$	26,517,822.18
	ii	Cash Consolidation Principal Payments	$	9,019,273.65
	iii	Cash Forwarded by Administrator on behalf of Seller		312,554.74
	iv	Cash Forwarded by Administrator on behalf of Servicer		(87.05	)
	v	Cash Forwarded by Administrator for Consolidation Activity		20,000,421.72

	vi	Total Principal Collections	$	55,849,985.24
B	Interest Collections
	i	Interest Payments Received—Cash	$	27,359,171.50
	ii	Cash Consolidation Interest Payments	$	99,856.91
	iii	Cash Forwarded by Administrator on behalf of Seller		2,879.00
	iv	Cash Forwarded by Administrator on behalf of Servicer		(2,184.15	)
	v	Cash Forwarded by Administrator for Consolidation Activity		147,484.78
	vi	Collection Fees/Returned Items		3,053.75
	vii	Cash Forwarded by Administrator for Late Fee Activity		299,700.20

	viii	Total Interest Collections	$	27,909,961.99
C	Other Reimbursements		$	162,689.12
D	Reserves in Excess of Reserve Requirement		$	96,451.98
E	Trust Account Investment Income		$	76,866.32
F	Administrator Account Investment Income		$	78,020.94
	TOTAL FUNDS RECEIVED		$	84,173,975.59
	LESS FUNDS PREVIOUSLY REMITTED/SET ASIDE:
	i	Servicing Fees	$	(1,569,299.93	)
	ii	Consolidation Loan Rebate Fees	$	(3,391,661.00	)
	iii	ARS related fees, payments, and accruals (IV-A-v + IV-B-v)	$	(1,494,667.66	)

G	TOTAL AVAILABLE FUNDS		$	77,718,347.00

H	Servicing Fees Due for Current Period		$	817,809.05

Less:

Servicing ADJ [A iv + B iv]

2,271.20

Carryover Servicing Fees Due

—

J	Administration Fees Due	$	20,000.00

K	Total Fees Due for Period	$	840,080.25

IV. 2003-2 Auction Rate Security Detail

A	Auction Rate Securities Paid During Collection Period
	i	Payment Date	Security Description	Interest Rate		No. of Days	Start Date	End Date	Interest Payment
		03/24/2003	SLM TRUST 2003-2 A-6	1.270000	%	20	03/04/2003	03/24/2003		46,954.72
		03/26/2003	SLM TRUST 2003-2 A-9	1.300000	%	22	03/04/2003	03/26/2003		79,444.44
		03/31/2003	SLM TRUST 2003-2 A-7	1.290000	%	27	03/04/2003	03/31/2003		96,750.00
		03/31/2003	SLM TRUST 2003-2 B	1.360000	%	27	03/04/2003	03/31/2003		61,968.06
		04/07/2003	SLM TRUST 2003-2 A-8	1.300000	%	34	03/04/2003	04/07/2003		122,777.78
		04/21/2003	SLM TRUST 2003-2 A-6	1.290000	%	28	03/24/2003	04/21/2003		66,771.83
		04/23/2003	SLM TRUST 2003-2 A-9	1.300000	%	28	03/26/2003	04/23/2003		101,111.11
		04/28/2003	SLM TRUST 2003-2 A-7	1.310000	%	28	03/31/2003	04/28/2003		101,888.89
		04/28/2003	SLM TRUST 2003-2 B	1.350000	%	28	03/31/2003	04/28/2003		63,790.65
		05/05/2003	SLM TRUST 2003-2 A-8	1.320000	%	28	04/07/2003	05/05/2003		102,666.67
		05/19/2003	SLM TRUST 2003-2 A-6	1.320000	%	28	04/21/2003	05/19/2003		68,324.67
		05/21/2003	SLM TRUST 2003-2 A-9	1.320000	%	28	04/23/2003	05/21/2003		102,666.67
		05/27/2003	SLM TRUST 2003-2 A-7	1.310000	%	29	04/28/2003	05/27/2003		105,527.78
		05/27/2003	SLM TRUST 2003-2 B	1.360000	%	29	04/28/2003	05/27/2003		66,558.29
	ii	Auction Rate Security Payments Made During Collection Period							$	1,187,201.56
	iii	Broker/Dealer Fees Paid During Collection Period				3/4/03-5/31/03			$	180,894.73
	iv	Auction Agent Fees Paid During Collection Period				3/4/03-5/31/03			$	7,688.03

	v	Total Payments Out of Future Distribution Account During Collection Period							$	1,375,784.32

B	Payments Set Aside During Collection Period for Future Distributions
	i	Payment Date	Security Description	Interest Rate		No. of Days	Start Date	End Date	Total Payment
		6/2/2003	SLM TRUST 2003-2 A-8	1.320000	%	28	05/05/2003	6/2/2003		102,666.67
		06/16/2003	SLM TRUST 2003-2 A-6	1.310000	%	28	05/19/2003	06/16/2003		67,807.06
	ii	Future Auction Rate Security Payments Set Aside							$	170,473.73
	iii	Future Broker Dealer Fees Set Aside for Payment							$	25,907.78
	iv	Future Auction Agent Fees Set Aside for Payment							$	1,101.08
		Less: Auction Rate Security Interest Payments due on the Distribution Date							$	(67,807.06	)
		Less: Auction Rate Security Auction Agent Fees due on the Distribution Date							$	(439.97	)
		Less: Auction Rate Security Broker Dealer Fees due on the Distribution Date							$	(10,352.22	)

	v	Total Funds Remaining in Future Distribution Account							$	118,883.34

V. 2003-2 Portfolio Characteristics

			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			2/3/2003		5/31/2003		2/3/2003	5/31/2003	2/3/2003		5/31/2003		2/3/2003		5/31/2003		2/3/2003		5/31/2003
INTERIM:
	In School
		Current	0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%
	Grace
		Current	0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

TOTAL INTERIM			0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

REPAYMENT
	Active
		Current	7.229	%	7.217	%	66,714	66,155	65.991	%	66.516	%	$	1,243,542,231.52	$	1,224,256,960.81	62.271	%	62.594	%
		31-60 Days Delinquent	7.447	%	7.471	%	3,005	2,532	2.972	%	2.546	%	$	56,568,114.74	$	46,961,834.67	2.833	%	2.401	%
		61-90 Days Delinquent	7.631	%	7.663	%	1,433	1,211	1.417	%	1.218	%	$	27,757,322.60	$	24,441,975.86	1.390	%	1.250	%
		91-120 Days Delinquent	7.825	%	7.763	%	740	604	0.732	%	0.607	%	$	15,333,573.49	$	12,223,396.78	0.768	%	0.625	%
		› 120 Days Delinquent	7.816	%	7.952	%	828	876	0.819	%	0.881	%	$	16,766,278.31	$	18,691,840.55	0.840	%	0.956	%
Deferment
	Current		7.147	%	7.175	%	9,064	9,265	8.965	%	9.316	%	$	193,190,361.62	$	195,088,651.39	9.674	%	9.974	%
Forbearance
	Current		7.307	%	7.316	%	19,312	18,775	19.102	%	18.878	%	$	443,843,066.06	$	433,197,432.55	22.226	%	22.148	%

TOTAL REPAYMENT			6.104	%	7.257	%	101,096	99,418	99.999	%	99.962	%	$	1,997,000,948.34	$	1,954,862,092.61	100.000	%	99.948	%

	Claims in Process (1)		0.000	%	7.826	%	—	38	0.000	%	0.038	%	$	—	$	1,015,422.32	0.000	%	0.052	%
	Aged Claims Rejected (2)		0.000	%	0.000	%	—	—	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

GRAND TOTAL			7.260	%	7.257	%	101,096	99,456	99.999	%	100.000	%	$	1,997,000,948.34	$	1,955,877,514.93	100.000	%	100.000	%

(1): Claims filed and unpaid; includes claims rejected aged less than 6 months.
(2): Claims rejected (subject to cure) aged 6 months or more; also includes claims deemed incurable pending repurchase.
*: Percentages may not total 100% due to rounding.

VI. 2003-2 Portfolio Characteristics by School and Program

SCHOOL TYPE	WAC		# Loans	$ Amount		%
Four Year	8.714	%	338	$	6,332,637.28	0.324	%
Two Year	8.947	%	36		379,366.77	0.019	%
Technical	8.891	%	21		222,818.92	0.011	%
Other	7.252	%	99,061		1,948,942,691.96	99.646	%
Total	7.257	%	99,456	$	1,955,877,514.93	100.000	%
* 100% of the Trust Student Loans are consolidation loans.

*: Percentages may not total 100% due to rounding.

VII. 2003-2 Expected Interest Calculation and Swap Payments

			Trust Receives	Trust Pays
A	Borrower Interest Accrued During Collection Period			$	43,664,340.96
B	Interest Subsidy Payments Accrued During Collection Period				560,932.12
C	SAP Payments Accrued During Collection Period				63.99
D	INV Earnings Accrued for Collection Period (RESERVE, COLLECTION, EURO & FUT DIST ACTS)				76,866.32
E	INV Earnings Accrued for Collection Period (CAPITALIZED INTEREST ACCOUNT)				75,279.96
F	Investment Earnings (ADMINISTRATOR ACCOUNTS)				78,020.94
G	Consolidation Loan Rebate Fees				(3,391,661.00	)

H	Net Expected Interest Collections			$	41,063,843.29
H	Currency Swap Payments Due to the Trust
	i	Aggregate Swap Notional Amount - Class A-5 *	588,000,000	$	637,098,000
	ii	Euribor/Libor Rate	2.52100%		1.34000%
	iii	Spread	0.2600%		0.3150%
	iv	Final Rate (ii+iii)	2.78100%		1.65500%
	v	Swap Payments Due	4,723,992.00	$	3,046,036.33

*: Payments are calculated using an exchange rate of $1.01 = (1.00

VIII. 2003-2 Accrued Interest Factors

		Accrued Int Factor	Accrual Period	Rate
A	Class A-1 Interest Rate	0.003928889	(3/4/03-6/16/03)	1.36000	%
B	Class A-2 Interest Rate	0.003957778	(3/4/03-6/16/03)	1.37000	%
C	Class A-3 Interest Rate	0.004160000	(3/4/03-6/16/03)	1.44000	%
D	Class A-4 Interest Rate	0.004420000	(3/4/03-6/16/03)	1.53000	%
E	Class A-5 Interest Rate	0.008034000	(3/4/03-6/16/03)	2.78100	%
F	Class A-6 Interest Rate	0.001018889	(5/19/03-6/16/03)	1.31000	%

IX. 2003-2 Inputs From Original Data 2/3/03

A	Total Student Loan Pool Outstanding
	i	Portfolio Balance	$	1,997,000,948.34
	ii	Interest To Be Capitalized		8,059,361.96

	iii	Total Pool	$	2,005,060,310.30
	iv	Specified Reserve Account Balance		5,012,651.00

	v	Total Adjusted Pool	$	2,010,072,961.30
B	Total Note and Certificate Factor			1.00000000000
C	Total Note Balance		$	2,025,076,000.00

D	Note Balance 3/4/2003		Class A-1		Class A-2		Class A-3		Class A-4		Class A-5		Class A-6		Class A-7		Class A-8		Class A-9		Class B
	i	Current Factor		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000
	ii	Expected Note Balance	$	162,240,000.00	$	246,045,000.00	$	263,529,000.00	$	288,861,000.00		588,000,000.00	$	66,550,000.00	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	$	60,753,000.00

E	Note Principal Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
F	Interest Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

G	Interest Carryover		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

H	Reserve Account Balance																				$	5,012,651.00
I	Unpaid Primary Servicing Fees from Prior Month(s)																				$	0.00
J	Unpaid Administration fees from Prior Quarter(s)																				$	0.00
K	Unpaid Carryover Servicing Fees from Prior Quarter(s)																				$	0.00
L	Interest Due on Unpaid Carryover Servicing Fees																				$	0.00

XI. 2003-2 Waterfall for Distributions

					Remaining Funds Balance
A	Total Available Funds (III-G)		$	77,718,347.00	$	77,718,347.00
B	Primary Servicing Fees—Current Month		$	820,080.25	$	76,898,266.75
C	Administration Fee		$	20,000.00	$	76,878,266.75
D	Auction Agent Fees Due 6/16/2003		$	439.97	$	76,877,826.78
	Broker/Dealer Fees Due 6/16/2003		$	10,352.22	$	76,867,474.56
E	Noteholders' Interest Distribution Amounts for 6/16/2003
	i	Class A-1	$	637,422.93	$	76,230,051.63
	ii	Class A-2	$	973,791.43	$	75,256,260.20
	iii	Class A-3	$	1,096,280.64	$	74,159,979.56
	iv	Class A-4	$	1,276,765.62	$	72,883,213.94
	v	Class A-5 US Dollar Equivalent to the Swap Counterparty	$	3,046,036.33	$	69,837,177.61
	vi	Class A-6	$	67,807.06	$	69,769,370.55
	vii	Class A-7	$	0.00	$	69,769,370.55
	viii	Class A-8	$	0.00	$	69,769,370.55
	ix	Class A-9	$	0.00	$	69,769,370.55
	xii	Class B	$	0.00	$	69,769,370.55

	xiii	Total Noteholder's Interest Distribution	$	7,098,104.01
F	*Noteholder's Principal Distribution Amount Paid (or set aside)**
	i	Class A-1	$	53,680,194.47	$	16,089,176.08
	ii	Class A-2	$	0.00	$	16,089,176.08
	iii	Class A-3	$	0.00	$	16,089,176.08
	iv	Class A-4	$	0.00	$	16,089,176.08
	v	Class A-5 US Dollar Equivalent to the Swap Counterparty		—	$	16,089,176.08
	vi	Class A-6	$	0.00	$	16,089,176.08
	vii	Class A-7	$	0.00	$	16,089,176.08
	viii	Class A-8	$	0.00	$	16,089,176.08
	ix	Class A-9	$	0.00	$	16,089,176.08
	xii	Class B	$	0.00	$	16,089,176.08

	xiii	Total Noteholder's Principal Distribution	$	53,680,194.47
G	Increase to the Specified Reserve Account Balance		$	0.00	$	16,089,176.08
H	Carryover Servicing Fees		$	0.00	$	16,089,176.08
I	Noteholder's Interest Carryover
	i	Class A-1	$	0.00	$	16,089,176.08
	ii	Class A-2	$	0.00	$	16,089,176.08
	iii	Class A-3	$	0.00	$	16,089,176.08
	iv	Class A-4	$	0.00	$	16,089,176.08
	v	Class A-5	$	0.00	$	16,089,176.08
	vi	Class A-6	$	0.00	$	16,089,176.08
	vii	Class A-7	$	0.00	$	16,089,176.08
	viii	Class A-8	$	0.00	$	16,089,176.08
	ix	Class A-9	$	0.00	$	16,089,176.08
	xii	Class B	$	0.00	$	16,089,176.08

	xiii	Total Noteholder's Interest Carryover	$	0.00
J	Excess Distribution Release to Certificateholders		$	16,089,176.08	$	0.00

*: Principal allocable to Auction Rate Securities not payable on the distribution date is paid to the Future Distribution Account for payment on the related Auction Rate Distribution date.

XII. 2003-2 Distributions

A	Distribution Amounts		Class A-1		Class A-2		Class A-3		Class A-4		Class A-5		Class A-6		Class A-7		Class A-8		Class A-9		Class B
	i	Quarterly Interest Due	$	637,422.93	$	973,791.43	$	1,096,280.64	$	1,276,765.62	$	3,046,036.33	$	67,807.06	$	0.00	$	0.00	$	0.00	$	0.00
	ii	Quarterly Interest Paid		637,422.93		973,791.43	$	1,096,280.64	$	1,276,765.62	$	3,046,036.33	$	67,807.06	$	0.00	$	0.00	$	0.00		0.00

	iii	Interest Shortfall	$	0.00	$	0.00	$	0.00	$	0.00											$	0.00
	iv	Interest Carryover Due	$	0.00	$	0.00	$	0.00	$	0.00		0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	v	Interest Carryover Paid		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

	vi	Interest Carryover	$	0.00	$	0.00	$	0.00	$	0.00		0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	vii	Quarterly Principal Due	$	53,680,194.47	$	0.00	$	0.00	$	0.00		0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	viii	Quarterly Principal Paid (or set aside)		53,680,194.47		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

	ix	Quarterly Principal Shortfall	$	0.00	$	0.00	$	0.00	$	0.00		0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

	x	Total Distribution Amount	$	54,317,617.40	$	973,791.43	$	1,096,280.64	$	1,276,765.62	$	3,046,036.33	$	67,807.06	$	0.00	$	0.00	$	0.00	$	0.00

B	Principal Distribution Reconciliation
	i	Notes Outstanding Principal Balance 5/31/03	$	2,025,076,000.00
	ii	Adjusted Pool Balance 5/31/03		1,971,395,805.53

	iii	Notes Outstanding Exceeding Pool Balance (i-ii)	$	53,680,194.47

	iv	Adjusted Pool Balance 2/3/03	$	2,010,072,961.30
	v	Adjusted Pool Balance 5/31/03		1,971,395,805.53

	vi	Current Principal Due (iv-v)	$	38,677,155.77
	vii	Notes Issued Exceeding Adjusted Pool Balance		15,003,038.70

	viii	Principal Distribution Amount (vi + vii)	$	53,680,194.47

	ix	Principal Distribution Amount Paid or Set Aside	$	53,680,194.47
	x	Principal Shortfall (viii-ix)	$	—
C	Total Principal Distribution		$	53,680,194.47
D	Total Interest Distribution			7,098,104.01

E	Total Cash Distributions		$	60,778,298.48

F	Note Balances			3/4/2003		6/16/2003		Balance		Next ARS Pay Date
	i	A-1 Note Balance	78442GFN1	$	162,240,000.00	$	108,559,805.53
		A-1 Note Pool Factor			1.0000000000		0.6691309512
	ii	A-2 Note Balance	78442GFP6	$	246,045,000.00	$	246,045,000.00
		A-2 Note Pool Factor			1.0000000000		1.0000000000
	iii	A-3 Note Balance	78442GFQ4	$	263,529,000.00	$	263,529,000.00
		A-3 Note Pool Factor			1.0000000000		1.0000000000
	iv	A-4 Note Balance	78442GFR2	$	288,861,000.00	$	288,861,000.00
		A-4 Note Pool Factor			1.0000000000		1.0000000000
	v	A-5 Note Balance	XS0163731846		588,000,000.00	$	588,000,000.00
		A-5 Note Pool Factor			1.000000000		1.000000000
	vi	A-6 Note Balance	78442GFT8	$	66,550,000.00	$	66,550,000.00	$	66,550,000.00	07/14/03
		A-6 Note Pool Factor			1.000000000		1.000000000		1.000000000
	vii	A-7 Note Balance	78442GFU5	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	06/23/03
		A-7 Note Pool Factor			1.000000000		1.000000000		1.000000000
	viii	A-8 Note Balance	78442GFV3	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	06/30/03
		A-8 Note Pool Factor			1.000000000		1.000000000		1.000000000
	ix	A-9 Note Balance	78442GFW1	$	100,000,000.00	$	100,000,000.00	$	100,000,000.00	06/18/03
		A-9 Note Pool Factor			1.000000000		1.000000000		1.000000000
	v	B Note Balance	78442GFX9	$	60,753,000.00	$	60,753,000.00	$	60,753,000.00	06/23/03
		B Note Pool Factor			1.0000000000		1.0000000000		1.000000000

G	Reserve Account Reconciliation
	i	Beginning of Period Balance	$	5,012,651.00
	ii	Deposits to correct Shortfall	$	—
	iii	Total Reserve Account Balance Available	$	5,012,651.00

	iv	Required Reserve Account Balance	$	4,916,199.02
	vi	Shortfall Carried to Next Period	$	—
	vii	Excess Reserve — Release to Waterfall	$	96,451.98
	viii	Ending Reserve Account Balance	$	4,916,199.02

XIII. 2003-2 Historical Pool Information

			2/3/03-5/31/03
Beginning Student Loan Portfolio Balance			$	1,997,000,948.34

	Student Loan Principal Activity
i		Regular Principal Collections	$	34,012,926.19
ii		Principal Collections from Guarantor		1,524,169.64
iii		Principal Reimbursements		20,312,889.41
iv		Other System Adjustments		—

v		Total Principal Collections	$	55,849,985.24
	Student Loan Non-Cash Principal Activity
i		Other Adjustments	$	1,062,235.93
ii		Capitalized Interest		(15,788,787.76	)

iii		Total Non-Cash Principal Activity	$	(14,726,551.83	)

(-) Total Student Loan Principal Activity			$	41,123,433.41

	Student Loan Interest Activity
i		Regular Interest Collections	$	26,838,182.63
ii		Interest Claims Received from Guarantors		31,607.13
iii		Collection Fees		3,053.75
iv		Late Fee Reimbursements		299,700.20
v		Interest Reimbursements		148,179.63
vi		Other System Adjustments		—
vii		Special Allowance Payments		—
viii		Subsidy Payments		589,238.65

ix		Total Interest Collections	$	27,909,961.99
	Student Loan Non-Cash Interest Activity
i		Interest Accrual Adjustment	$	(947,078.79	)
ii		Capitalized Interest		15,788,787.76

iii		Total Non-Cash Interest Adjustments	$	14,841,708.97

	Total Student Loan Interest Activity		$	42,751,670.96
(=) Ending Student Loan Portfolio Balance			$	1,955,877,514.93

(+) Interest to be Capitalized			$	10,602,091.58

(=) TOTAL POOL			$	1,966,479,606.51

(+) Reserve Account Balance			$	4,916,199.02

(=) Total Adjusted Pool			$	1,971,395,805.53

XIV. 2003-2 Payment History and CPRs

Distribution Date		Actual Pool Balances			Since Issued CPR *
Jun-03		$	1,966,479,607		4.03	%

*: "Since Issued CPR" is based on the current period's ending pool balance calculated against the original pool balance and assuming cutoff date pool data.

SLM Student Loan Trust 2003-3

Quarterly Servicing Report
Report Date:		5/31/2003		Reporting Period: 02/24/03-05/31/03

I. Deal Parameters

	Student Loan Portfolio Characteristics		2/24/2003			Activity			5/31/2003
A	i	Portfolio Balance	$	1,242,031,167.74		$	(55,286,620.77	)	$	1,186,744,546.97
	ii	Interest to be Capitalized		14,007,144.26						18,185,118.14

	iii	Total Pool	$	1,256,038,312.00					$	1,204,929,665.11
	iv	Specified Reserve Account Balance		3,140,096.00						3,012,324.16

	v	Total Adjusted Pool	$	1,259,178,408.00					$	1,207,941,989.27

B	i	Weighted Average Coupon (WAC)		3.853	%					3.835	%
	ii	Weighted Average Remaining Term		130.56						127.83
	iii	Number of Loans		309,912						300,460
	iv	Number of Borrowers		163,782						159,653
	v	Aggregate Outstanding Principal Balance—T-Bill	$	252,356,918.71					$	235,226,330.27
	vi	Aggregate Outstanding Principal Balance—Commercial Paper	$	1,003,681,393.03					$	969,703,334.84

	Notes			Spread		Balance 03/26/03		% of O/S Securities		Balance 06/16/03		% of O/S Securities
C	i	A-1 Notes	78442GFY7	0.000	%	$	207,000,000.00	16.317	%	$	151,638,050.67	12.499	%
	ii	A-2 Notes	78442GFZ4	0.020	%		365,000,000.00	28.772	%		365,000,000.00	30.085	%
	iii	A-3 Notes	78442GGA8	0.090	%		197,000,000.00	15.529	%		197,000,000.00	16.238	%
	iv	A-4 Notes	78442GGB6	0.220	%		461,548,000.00	36.382	%		461,548,000.00	38.042	%
	vi	B Notes	78442GGC4	0.590	%		38,051,000.00	3.000	%		38,051,000.00	3.136	%

	vii	Total Notes				$	1,268,599,000.00	100.000	%	$	1,213,237,050.67	100.000	%

	Reserve Account		3/26/2003			6/16/2003
D	i	Required Reserve Acct Deposit (%)		0.25	%		0.25	%
	ii	Reserve Acct Initial Deposit ($)	$	3,140,096.00
	iii	Specified Reserve Acct Balance ($)	$	3,140,096.00		$	3,012,324.16
	iv	Reserve Account Floor Balance ($)	$	1,256,038.00		$	1,256,038.00
	v	Current Reserve Acct Balance ($)	$	3,140,096.00		$	3,012,324.16

		Capitalized Interest Account				3/26/2003			6/16/2003
E		i		Current Capitalized Interest Account Balance ($)		$	2,000,000.00		$	2,004,203.80

II. 2003-3 Transactions from: 2/24/2003 through: 5/31/2003

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	37,131,655.96
	ii	Principal Collections from Guarantor		488,826.69
	iii	Principal Reimbursements		18,934,731.70
	iv	Other System Adjustments		0.00

	v	Total Principal Collections	$	56,555,214.35
B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	424,612.54
	ii	Capitalized Interest		(1,693,206.12	)

	iii	Total Non-Cash Principal Activity	$	(1,268,593.58	)
C	Total Student Loan Principal Activity		$	55,286,620.77

D	Student Loan Interest Activity
	i	Regular Interest Collections	$	3,247,171.28
	ii	Interest Claims Received from Guarantors		6,412.07
	iii	Collection Fees/Returned Items		5,030.70
	iv	Late Fee Reimbursements		89,819.17
	v	Interest Reimbursements		155,917.65
	vi	Other System Adjustments		0.00
	vii	Special Allowance Payments		0.00
	viii	Subsidy Payments		1,129,823.65

	ix	Total Interest Collections	$	4,634,174.52
E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustment	$	(297,897.66	)
	ii	Capitalized Interest		1,693,206.12

	iii	Total Non-Cash Interest Adjustments	$	1,395,308.46
F	Total Student Loan Interest Activity		$	6,029,482.98

G.	Non-Reimbursable Losses During Collection Period		$	136.56
H.	Cumulative Non-Reimbursable Losses to Date		$	136.56

III. 2003-3 Collection Account Activity 2/24/2003 through 5/31/2003

A	Principal Collections
	i	Principal Payments Received—Cash	$	12,696,325.70
	ii	Cash Consolidation Principal Payments	$	24,924,156.95
	iii	Cash Forwarded by Administrator on behalf of Seller		3,240,073.47
	iv	Cash Forwarded by Administrator on behalf of Servicer		8,380.23
	v	Cash Forwarded by Administrator for Consolidation Activity		15,686,278.00

	vi	Total Principal Collections	$	56,555,214.35
B	Interest Collections
	i	Interest Payments Received—Cash	$	4,059,678.66
	ii	Cash Consolidation Interest Payments	$	323,728.34
	iii	Cash Forwarded by Administrator on behalf of Seller		54,571.51
	iv	Cash Forwarded by Administrator on behalf of Servicer		633.32
	v	Cash Forwarded by Administrator for Consolidation Activity		100,712.82
	vi	Collection Fees/Returned Items		5,030.70
	vii	Cash Forwarded by Administrator for Late Fee Activity		89,819.17

	viii	Total Interest Collections	$	4,634,174.52
C	Other Reimbursements		$	19,197.95
D	Reserves in Excess of the Requirement		$	127,771.84
E	Administrator Account Investment Income		$	62,055.33
F	Investment Earnings for Period in Trust Accounts		$	33,436.25
G	Funds Released from Capitalized Interest Account		$	—
H	Return funds borrowed for previous distribution		$	—
	TOTAL AVAILABLE FUNDS		$	61,431,850.24
	LESS FUNDS PREVIOUSLY REMITTED: Servicing Fees		$	(1,086,129.79	)

I	NET AVAILABLE FUNDS		$	60,345,720.45

J	Servicing Fees Due for Current Period		$	896,159.69

	Less:	Servicing ADJ [A iv + B iv]	$	(9,013.55	)

K		Carryover Servicing Fees Due	$	—

L	Administration Fees Due	$	20,000.00

M	Total Fees Due for Period	$	907,146.14

IV. 2003-3 Portfolio Characteristics

			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			2/24/2003		5/31/2003		2/24/2003	5/31/2003	2/24/2003		5/31/2003		2/24/2003		5/31/2003		2/24/2003		5/31/2003
INTERIM:
	In School
		Current	3.460	%	3.460	%	163,214	122,914	41.891	%	40.909	%	$	628,027,811.47	$	477,248,173.38	39.324	%	40.215	%
	Grace
		Current	0.000	%	3.460	%	0	38,922	9.676	%	12.954	%	$	—	$	145,079,231.35	7.710	%	12.225	%

TOTAL INTERIM			3.460	%	3.460	%	163,214	161,836	51.567	%	53.863	%	$	628,027,811.47	$	622,327,404.73	47.034	%	52.440	%

REPAYMENT
	Active
		Current	4.486	%	4.498	%	64,826	56,494	21.320	%	18.803	%	$	256,459,079.09	$	217,451,969.78	16.708	%	18.323	%
		31-60 Days Delinquent	4.284	%	4.496	%	6,955	3,371	1.573	%	1.122	%	$	24,521,396.53	$	11,416,782.43	1.717	%	0.962	%
		61-90 Days Delinquent	4.243	%	4.396	%	7,029	2,692	0.542	%	0.896	%	$	24,015,677.36	$	8,314,188.73	0.646	%	0.701	%
		91-120 Days Delinquent	4.424	%	4.395	%	2,148	2,573	0.310	%	0.856	%	$	5,894,348.27	$	7,179,180.40	0.237	%	0.605	%
		› 120 Days Delinquent	4.620	%	4.298	%	1,329	5,853	0.326	%	1.948	%	$	3,702,626.63	$	17,070,736.25	0.234	%	1.438	%
Deferment
	Current		3.756	%	3.743	%	30,400	29,800	14.090	%	9.918	%	$	146,921,535.59	$	142,755,714.06	19.282	%	12.029	%
Forbearance
	Current		4.353	%	4.336	%	34,011	37,712	10.238	%	12.551	%	$	152,488,692.54	$	159,845,632.84	14.104	%	13.469	%

TOTAL REPAYMENT			4.261	%	4.252	%	146,698	138,495	48.400	%	46.095	%	$	614,003,356.01	$	564,034,204.49	52.928	%	47.528	%

	Claims in Process (1)		0.000	%	4.256	%	—	128	0.033	%	0.043	%	$	—	$	381,624.75	0.038	%	0.032	%
	Aged Claims Rejected (2)		0.000	%	4.860	%	—	1	0.000	%	0.000	%	$	—	$	1,313.00	0.000	%	0.000	%

GRAND TOTAL			3.853	%	3.835	%	309,912	300,460	100.000	%	100.000	%	$	1,242,031,167.48	$	1,186,744,546.97	100.000	%	100.000	%

(1): Claims filed and unpaid; includes claims rejected aged less than 6 months.
(2): Claims rejected (subject to cure) aged 6 months or more; also includes claims deemed incurable pending repurchase.
*: Percentages may not total 100% due to rounding.

V. 2003-3 Portfolio Characteristics by School and Program

LOAN TYPE	WAC		# Loans	$ Amount		%
GSL—Unsubsidized	3.725	%	118,181	$	531,323,321.47	44.771	%
GSL—Subsidized	3.781	%	170,165		569,626,831.79	47.999	%
PLUS Loans	4.879	%	10,864		80,669,871.95	6.798	%
SLS Loans	5.335	%	1,250		5,124,521.76	0.432	%
Total	3.837	%	300,460	$	1,186,744,546.97	100.000	%
SCHOOL TYPE	WAC		# Loans	$ Amount		%
Four Year	3.831	%	233,888	$	1,015,155,828.64	85.541	%
Two Year	3.862	%	41,611		104,559,208.99	8.811	%
Technical	3.890	%	24,912		66,743,159.71	5.624	%
Other	4.722	%	49		286,349.63	0.024	%
Total	3.837	%	300,460	$	1,186,744,546.97	100.000	%

*: Percentages may not total 100% due to rounding.

VI. 2003-3 Interest Accruals

A	Borrower Interest Accrued During Collection Period	$	8,606,299.63
B	Interest Subsidy Payments Accrued During Collection Period		2,258,266.61
C	SAP Payments Accrued During Collection Period		0.00
D	INV Earnings Accrued for Collection Period (RESERVE, COLLECTION)		33,436.25
E	INV Earnings Accrued for Collection Period (CAPPED INT ACCT)		4,203.80
F	Investment Earnings (ADMINISTRATOR ACCOUNTS)		62,055.33

G	Net Expected Interest Collections	$	10,964,261.62

VII. 2003-3 Accrued Interest Factors

		Accrued Int Factor	Accrual Period	Rate
A	Class A-1 Interest Rate	0.002945918	03/26/03-06/16/03	1.29333	%
B	Class A-2 Interest Rate	0.002991474	03/26/03-06/16/03	1.31333	%
C	Class A-3 Interest Rate	0.003150918	03/26/03-06/16/03	1.38333	%
D	Class A-4 Interest Rate	0.003447029	03/26/03-06/16/03	1.51333	%
E	Class B Interest Rate	0.004289807	03/26/03-06/16/03	1.88333	%

VIII. 2003-3 Inputs From Original Data 2/24/03

A	Total Student Loan Pool Outstanding
	i	Portfolio Balance	$	1,242,031,167.74
	ii	Interest To Be Capitalized		14,007,144.26

	iii	Total Pool	$	1,256,038,312.00
	iv	Specified Reserve Account Balance		3,140,096.00

	v	Total Adjusted Pool	$	1,259,178,408.00

B	Total Note and Certificate Factor			1.00000000000
C	Total Note Balance		$	1,268,599,000.00

D	Note Balance 3/26/2003		Class A-1		Class A-2		Class A-3		Class A-4		Class B
	i	Current Factor		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000
	ii	Expected Note Balance	$	207,000,000.00	$	365,000,000.00	$	197,000,000.00	$	461,548,000.00	$	38,051,000.00

E	Note Principal Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
F	Interest Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
G	Interest Carryover		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

H	Reserve Account Balance										$	3,140,096.00
I	Unpaid Primary Servicing Fees from Prior Month(s)										$	0.00
J	Unpaid Administration fees from Prior Quarter(s)										$	0.00
K	Unpaid Carryover Servicing Fees from Prior Quarter(s)										$	0.00
L	Interest Due on Unpaid Carryover Servicing Fees										$	0.00

IX. 2003-3 Waterfall for Distributions

					Remaining Funds Balance
A	Total Available Funds (Section III-I)		$	60,345,720.45	$	60,345,720.45
B	Primary Servicing Fees—Current Month		$	887,146.14	$	59,458,574.31
C	Administration Fee		$	20,000.00	$	59,438,574.31
D	Noteholder's Interest Distribution Amount
	i	Class A-1	$	609,805.10	$	58,828,769.21
	ii	Class A-2	$	1,091,887.97	$	57,736,881.24
	iii	Class A-3	$	620,730.91	$	57,116,150.33
	iv	Class A-4	$	1,590,969.55	$	55,525,180.78
	vi	Class B	$	163,231.45	$	55,361,949.33

	vii	Total Noteholder's Interest Distribution	$	4,076,624.98
E	Noteholder's Principal Distribution Amount Paid
	i	Class A-1	$	55,361,949.33	$	0.00
	ii	Class A-2	$	0.00	$	0.00
	iii	Class A-3	$	0.00	$	0.00
	iv	Class A-4	$	0.00	$	0.00
	vi	Class B	$	0.00	$	0.00

	vii	Total Noteholder's Principal Distribution	$	55,361,949.33
F	Increase to the Specified Reserve Account Balance		$	0.00	$	0.00
H	Carryover Servicing Fees		$	0.00	$	0.00
I	Excess to Certificate Holder		$	0.00	$	0.00

X. 2003-3 Distributions

A	Distribution Amounts		Class A-1		Class A-2		Class A-3		Class A-4		Class B
	i	Quarterly Interest Due	$	609,805.10	$	1,091,887.97	$	620,730.91	$	1,590,969.55	$	163,231.45
	ii	Quarterly Interest Paid		609,805.10		1,091,887.97	$	620,730.91	$	1,590,969.55		163,231.45

	iii	Interest Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	vii	Quarterly Principal Due	$	60,657,010.73	$	0.00	$	0.00	$	0.00	$	0.00
	viii	Quarterly Principal Paid		55,361,949.33		0.00		0.00		0.00		0.00

	ix	Quarterly Principal Shortfall	$	5,295,061.40	$	0.00	$	0.00	$	0.00	$	0.00

	x	Total Distribution Amount	$	55,971,754.43	$	1,091,887.97	$	620,730.91	$	1,590,969.55	$	163,231.45

B	Principal Distribution Reconciliation
	i	Notes Outstanding Principal Balance 5/31/03	$	1,268,599,000.00
	ii	Adjusted Pool Balance 5/31/03		1,207,941,989.27

	iii	Adjusted Pool Exceeding Notes Balance (i-ii)	$	60,657,010.73

	iv	Adjusted Pool Balance 2/24/03	$	1,259,178,408.00
	v	Adjusted Pool Balance 5/31/03		1,207,941,989.27

	vi	Current Principal Due (iv-v)	$	51,236,418.73
	vii	Notes Issued Exceeding Adjusted Pool Balance		9,420,592.00

	viii	Principal Distribution Amount (vi + vii)	$	60,657,010.73

	ix	Principal Distribution Amount Paid	$	55,361,949.33
	x	Principal Shortfall (viii-ix)	$	5,295,061.40
C	Total Principal Distribution		$	55,361,949.33
D	Total Interest Distribution			4,076,624.98

E	Total Cash Distributions		$	59,438,574.31

F	Note Balances			3/26/2003		6/16/2003
	i	A-1 Note Balance	78442GFY7	$	207,000,000.00	$	151,638,050.67
		A-1 Note Pool Factor			1.0000000000		0.7325509694
	ii	A-2 Note Balance	78442GFZ4	$	365,000,000.00	$	365,000,000.00
		A-2 Note Pool Factor			1.0000000000		1.0000000000
	iii	A-3 Note Balance	78442GGA8	$	197,000,000.00	$	197,000,000.00
		A-3 Note Pool Factor			1.0000000000		1.0000000000
	iv	A-4 Note Balance	78442GGB6	$	461,548,000.00	$	461,548,000.00
		A-4 Note Pool Factor			1.0000000000		1.0000000000
	vi	B Note Balance	78442GGC4	$	38,051,000.00	$	38,051,000.00
		B Note Pool Factor			1.0000000000		1.0000000000

G	Reserve Account Reconciliation
	i	Beginning of Period Balance	$	3,140,096.00
	ii	Deposits to correct Shortfall	$	—
	iv	Total Reserve Account Balance Available	$	3,140,096.00
	v	Required Reserve Account Balance	$	3,012,324.16
	vi	Shortfall Carried to Next Period	$	—
	vii	Excess Reserve — Release to Waterfall	$	127,771.84
	viii	Ending Reserve Account Balance	$	3,012,324.16

XI. 2003-3 Historical Pool Information

			02/24/03-05/31/03
Beginning Student Loan Portfolio Balance			$	1,242,031,167.48

	Student Loan Principal Activity
i		Regular Principal Collections	$	37,131,655.96
ii		Principal Collections from Guarantor		488,826.69
iii		Principal Reimbursements		18,934,731.70
iv		Other System Adjustments		—

v		Total Principal Collections	$	56,555,214.35
	Student Loan Non-Cash Principal Activity
i		Other Adjustments	$	424,612.54
ii		Capitalized Interest		(1,693,206.12	)

iii		Total Non-Cash Principal Activity	$	(1,268,593.58	)

(-) Total Student Loan Principal Activity			$	55,286,620.77

	Student Loan Interest Activity
i		Regular Interest Collections	$	3,247,171.28
ii		Interest Claims Received from Guarantors		6,412.07
iii		Collection Fees/Returned Items		5,030.70
iv		Late Fee Reimbursements		89,819.17
v		Interest Reimbursements		155,917.65
vi		Other System Adjustments		—
vii		Special Allowance Payments		—
viii		Subsidy Payments		1,129,823.65

ix		Total Interest Collections	$	4,634,174.52
	Student Loan Non-Cash Interest Activity
i		Interest Accrual Adjustment	$	(297,897.66	)
ii		Capitalized Interest		1,693,206.12

iii		Total Non-Cash Interest Adjustments	$	1,395,308.46

	Total Student Loan Interest Activity		$	6,029,482.98
(=) Ending Student Loan Portfolio Balance			$	1,186,744,546.71

(+) Interest to be Capitalized			$	18,185,118.14

(=) TOTAL POOL			$	1,204,929,664.85

(+) Reserve Account Balance			$	3,012,324.16

(=) Total Adjusted Pool			$	1,207,941,989.01

XII. 2003-3 Payment History and CPRs

Distribution Date		Actual Pool Balances			Since Issued CPR *
Jun-03		$	1,220,312,610		7.82	%

*: "Since Issued CPR" is based on the current period's ending pool balance calculated against the original pool balance and assuming cutoff date pool data.

SLM Student Loan Trust 2003-4

Quarterly Servicing Report
Report Date:		5/31/2003		Reporting Period: 3/17/03-5/31/03

I. Deal Parameters

	Student Loan Portfolio Characteristics		3/17/2003			Activity			5/31/2003
A	i	Portfolio Balance	$	2,246,024,417.20		$	(20,779,506.15	)	$	2,225,244,911.05
	ii	Interest to be Capitalized		10,306,076.10						9,851,972.13

	iii	Total Pool	$	2,256,330,493.30					$	2,235,096,883.18
	iv	Specified Reserve Account Balance		5,640,826.00						5,587,742.21

	v	Total Adjusted Pool	$	2,261,971,319.30					$	2,240,684,625.39

B	i	Weighted Average Coupon (WAC)		6.301	%					6.296	%
	ii	Weighted Average Remaining Term		266.68						265.38
	iii	Number of Loans		114,314						113,673
	iv	Number of Borrowers		70,998						70,523
	v	Aggregate Outstanding Principal Balance—T-Bill	$	451,347,902.66					$	443,955,363.50
	vi	Aggregate Outstanding Principal Balance—Commercial Paper	$	1,804,982,590.64					$	1,791,141,519.68

	Notes and Certificates			Spread		Balance 4/16/03		% of O/S Securities		Balance 6/16/03		% of O/S Securities
C	i	A-1 Notes	78442GGH3	0.020	%	$	184,000,000.00	8.074	%	$	145,790,625.39	6.507	%
	ii	A-2 Notes	78442GGJ9	0.040	%		284,000,000.00	12.462	%		284,000,000.00	12.675	%
	iii	A-3 Notes	78442GGK6	0.100	%		290,000,000.00	12.726	%		290,000,000.00	12.942	%
	iv	A-4 Notes	78442GGL4	0.220	%		314,000,000.00	13.779	%		314,000,000.00	14.013	%
	v	A-5A Notes	78442GGD2	—			200,000,000.00	8.776	%		200,000,000.00	8.926	%
	vi	A-5B Notes	78442GGE0	—			200,000,000.00	8.776	%		200,000,000.00	8.926	%
	vii	A-5C Notes	78442GGF7	0.160	%		338,527,000.00	14.855	%		338,527,000.00	15.108	%
	viii	A-5D Notes	78442GGG5	—			200,000,000.00	8.776	%		200,000,000.00	8.926	%
	ix	A-5E Notes	78442GGN0	0.250	%		200,000,000.00	8.776	%		200,000,000.00	8.926	%
	x	B Notes	78442GGM2	0.650	%		68,367,000.00	3.000	%		68,367,000.00	3.051	%

	xi	Total Notes				$	2,278,894,000.00	100.000	%	$	2,240,684,625.39	100.000	%

	Reserve Account		4/16/2003			6/16/2003
D	i	Required Reserve Acct Deposit (%)		0.25	%		0.25	%
	ii	Reserve Acct Initial Deposit ($)	$	5,640,826.00		$	—
	iii	Specified Reserve Acct Balance ($)				$	5,587,742.21
	iv	Reserve Account Floor Balance ($)	$	3,384,496.00		$	3,384,496.00
	v	Current Reserve Acct Balance ($)	$	5,640,826.00		$	5,587,742.21

	Other Accounts		4/16/2003		6/16/2003
E	i	Remarketing Fee Account	$	3,984,845.00	$	3,984,845.00
	ii	Capitalized Interest Account	$	20,000,000.00	$	20,028,427.38
	iii	Principal Accumulation Account (A-5A)	$	—	$	—
	iv	Supplemental Interest Account (A-5A)	$	—	$	—
	v	Principal Accumulation Account (A-5B)	$	—	$	—
	vi	Supplemental Interest Account (A-5B)	$	—	$	—
	vii	Principal Accumulation Account (A-5D)	$	—	$	—
	viii	Supplemental Interest Account (A-5D)	$	—	$	—

II. 2003-4 Transactions from: 3/17/2003 through: 5/31/2003

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	25,093,900.86
	ii	Principal Collections from Guarantor		336,084.11
	iii	Principal Reimbursements		5,561,676.60
	iv	Other System Adjustments		0.00

	v	Total Principal Collections	$	30,991,661.57
B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	252,902.64
	ii	Capitalized Interest		(10,465,058.06	)

	iii	Total Non-Cash Principal Activity	$	(10,212,155.42	)
C	Total Student Loan Principal Activity		$	20,779,506.15

D	Student Loan Interest Activity
	i	Regular Interest Collections	$	18,041,795.04
	ii	Interest Claims Received from Guarantors		3,421.80
	iii	Collection Fees/Returned Items		2,150.66
	iv	Late Fee Reimbursements		173,253.89
	v	Interest Reimbursements		30,993.25
	vi	Other System Adjustments		0.00
	vii	Special Allowance Payments		0.00
	viii	Subsidy Payments		0.00

	ix	Total Interest Collections	$	18,251,614.64
E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustment	$	(252,856.39	)
	ii	Capitalized Interest		10,465,058.06

	iii	Total Non-Cash Interest Adjustments	$	10,212,201.67
F	Total Student Loan Interest Activity		$	28,463,816.31

G.	Non-Reimbursable Losses During Collection Period		$	—
H.	Cumulative Non-Reimbursable Losses to Date		$	—

III. 2003-4 Collection Account Activity 3/17/2003 through 5/31/2003

A	Principal Collections
	i	Principal Payments Received—Cash	$	19,857,781.68
	ii	Cash Consolidation Principal Payments	$	5,572,203.29
	iii	Cash Forwarded by Administrator on behalf of Seller		175,593.86
	iv	Cash Forwarded by Administrator on behalf of Servicer		0.00
	v	Cash Forwarded by Administrator for Consolidation Activity		5,386,082.74

	vi	Total Principal Collections	$	30,991,661.57
B	Interest Collections
	i	Interest Payments Received—Cash	$	17,958,600.64
	ii	Cash Consolidation Interest Payments	$	86,616.20
	iii	Cash Forwarded by Administrator on behalf of Seller		787.30
	iv	Cash Forwarded by Administrator on behalf of Servicer		(400.17	)
	v	Cash Forwarded by Administrator for Consolidation Activity		30,606.12
	vi	Collection Fees/Returned Items		2,150.66
	vii	Cash Forwarded by Administrator for Late Fee Activity		173,253.89

	viii	Total Interest Collections	$	18,251,614.64
C	Other Reimbursements		$	295,355.28
D	Reserves In Excess of the Requirement		$	53,083.79
E	Reset Period Target Amount Excess		$	—
F	Interest Rate Cap Proceeds		$	—
G	Interest Rate Swap Proceeds		$	3,136,833.34
H	Administrator Account Investment Income		$	31,708.23
I	Trust Account Investment Income		$	30,864.30
J	Funds Released from Capitalized Interest Account		$	—
	TOTAL AVAILABLE FUNDS		$	52,791,121.15
	LESS FUNDS PREVIOUSLY REMITTED: Servicing Fees		$	(466,394.90	)
	Consolidation Loan Rebate Fees		$	(1,926,140.00	)

K	NET AVAILABLE FUNDS		$	50,398,586.25

L	Servicing Fees Due for Current Period		$	930,723.61

Less:

Servicing ADJ [A iv + B iv]

400.17

Carryover Servicing Fees Due

—

N	Administration Fees Due	$	25,000.00

O	Total Fees Due for Period	$	956,123.78

IV. 2003-4 Portfolio Characteristics

			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			Weighted Avg Coupon				# of Loans		%*				Principal Amount				%*
STATUS			3/17/2003		5/31/2003		3/17/2003	5/31/2003	3/17/2003		5/31/2003		3/17/2003		5/31/2003		3/17/2003		5/31/2003
INTERIM:
	In School
		Current	0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%
	Grace
		Current	0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

TOTAL INTERIM			0.000	%	0.000	%	0	0	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

REPAYMENT
	Active
		Current	6.170	%	6.167	%	82,785	81,380	72.419	%	71.591	%	$	1,536,623,203.15	$	1,495,160,358.92	68.415	%	67.191	%
		31-60 Days Delinquent	6.839	%	7.008	%	2,166	2,380	1.895	%	2.094	%	$	43,329,684.37	$	46,576,617.37	1.929	%	2.093	%
		61-90 Days Delinquent	7.011	%	7.239	%	973	1,120	0.851	%	0.985	%	$	19,179,159.93	$	23,652,884.27	0.854	%	1.063	%
		91-120 Days Delinquent	7.044	%	7.238	%	618	582	0.541	%	0.512	%	$	12,488,605.49	$	11,838,718.37	0.556	%	0.532	%
		› 120 Days Delinquent	6.707	%	7.456	%	962	765	0.842	%	0.673	%	$	18,664,166.37	$	17,135,650.03	0.831	%	0.770	%
Deferment
	Current		6.322	%	6.321	%	9,582	9,209	8.382	%	8.101	%	$	204,689,205.03	$	198,242,052.92	9.113	%	8.909	%
Forbearance
	Current		6.641	%	6.526	%	17,228	18,202	15.071	%	16.013	%	$	411,050,392.86	$	431,967,027.66	18.301	%	19.412	%

TOTAL REPAYMENT			7.397	%	6.295	%	114,314	113,638	100.000	%	99.969	%	$	2,246,024,417.20	$	2,224,573,309.54	100.000	%	99.970	%

	Claims in Process (1)		0.000	%	7.021	%	—	35	0.000	%	0.031	%	$	—	$	671,601.51	0.000	%	0.030	%
	Aged Claims Rejected (2)		0.000	%	0.000	%	—	—	0.000	%	0.000	%	$	—	$	—	0.000	%	0.000	%

GRAND TOTAL			6.301	%	6.296	%	114,314	113,673	100.000	%	100.000	%	$	2,246,024,417.20	$	2,225,244,911.05	100.000	%	100.000	%

(1): Claims filed and unpaid; includes claims rejected aged less than 6 months.
(2): Claims rejected (subject to cure) aged 6 months or more; also includes claims deemed incurable pending repurchase.
*: Percentages may not total 100% due to rounding.

V. 2003-4 Portfolio Characteristics by School and Program

SCHOOL TYPE	WAC		# Loans	$ Amount		%
Four Year	8.824	%	303	$	7,722,725.24	0.347	%
Two Year	8.571	%	23		282,237.88	0.013	%
Technical	8.980	%	41		450,766.86	0.020	%
Other	6.286	%	113,306		2,216,789,181.07	99.620	%
Total	6.296	%	113,673	$	2,225,244,911.05	100.000	%
* 100% of the Trust Student Loans are consolidation loans.

*: Percentages may not total 100% due to rounding.

VI. 2003-4 Various Interest Accruals and Floating Rate Swap Payments

			Cap
A	Borrower Interest Accrued During Collection Period		$	27,746,462.15
B	Interest Subsidy Payments Accrued During Collection Period			748,158.58
C	SAP Payments Accrued During Collection Period			21,422.75
D	Investment Earnings Accrued for Collection Period (TRUST ACCOUNTS except CAP INT ACCT)			30,864.30
E	Investment Earnings (CAP INT ACCOUNTS)			28,427.38
F	Investment Earnings (ADMINISTRATOR ACCOUNTS)			31,708.23
G	Consolidation Loan Rebate Fees			(1,926,140.00	)

H	Net Expected Interest Collections		$	26,680,903.39
I	Interest Rate Cap Payments Due to the Trust
	i	Cap Notional Amount	$	500,000,000.00
	ii	Libor (Interpolated first period)		1.30625%
	iii	Cap %		5.00000%
	iv	Excess Over Cap ( ii-iii)		0.00000%
	v	Cap Payments Due to the Trust	$	0.00
J	Interest Rate Swap on Fixed Rate Reset Notes

		A-5A Swap Calc		A-5B Swap Calc		A-5C Swap Calc		A-5D Swap Calc		A-5E Swap Calc
Swap Payments
i	Notional Swap Amount		200,000,000		200,000,000		—		200,000,000		—
SLM Student Loan Trust Pays:
iia	3 Month Libor		1.30625%		1.30625%		0.00000%		1.30625%		0.00000%
iib	Spread		0.099%		0.189%		0.000%		0.274%		0.000%

iic	Pay Rate		1.405%		1.495%		0.000%		1.580%		0.000%
iii	Gross Swap Payment Due Counterparty	$	476,223.61	$	506,723.61	$	0.00	$	535,529.17	$	0.00
iv	Days in Period 4/16/2003 6/16/2003		61		61		61		61		61
Counterparty Pays:
v	Fixed Rate Equal To Respective Reset Note Rate		2.16000%		3.39000%		0.00000%		4.02000%		0.00000%
vi	Gross Swap Receipt Due Trust	$	708,000.00	$	1,111,166.67	$	0.00	$	1,317,666.67	$	0.00
vii	Days in Period 4/16/2003 6/15/2003		59		59		59		59		59

VII. 2003-4 Accrued Interest Factors

		Accrued Int Factor	Accrual Period	Rate	Index
A	Class A-1 Interest Rate	0.002247257	(4/16/03-6/16/03)	1.32625%	LIBOR
B	Class A-2 Interest Rate	0.002281146	(4/16/03-6/16/03)	1.34625%	LIBOR
C	Class A-3 Interest Rate	0.002382813	(4/16/03-6/16/03)	1.40625%	LIBOR
D	Class A-4 Interest Rate	0.002586146	(4/16/03-6/16/03)	1.52625%	LIBOR
E	Class A-5A Interest Rate	0.003540000	(4/16/03-6/15/03)	2.16000%	Fixed
F	Class A-5B Interest Rate	0.005555833	(4/16/03-6/15/03)	3.39000%	Fixed
G	Class A-5C Interest Rate	0.002484479	(4/16/03-6/16/03)	1.46625%	LIBOR
H	Class A-5D Interest Rate	0.006588333	(4/16/03-6/15/03)	4.02000%	Fixed
I	Class A-5E Interest Rate	0.002636979	(4/16/03-6/16/03)	1.55625%	LIBOR
J	Class B Interest Rate	0.003314757	(4/16/03-6/16/03)	1.95625%	LIBOR

VIII. 2003-4 Inputs From Original Data 3/17/2003

A	Total Student Loan Pool Outstanding
	i	Portfolio Balance	$	2,246,024,417.20
	ii	Interest To Be Capitalized		10,306,076.10

	iii	Total Pool	$	2,256,330,493.30
	iv	Specified Reserve Account Balance		5,640,826.00

	v	Total Adjusted Pool	$	2,261,971,319.30

B	Total Note and Certificate Factor			1.00000000000
C	Total Note Balance		$	2,278,894,000.00

D	Note Balance 4/16/2003		Class A-1		Class A-2		Class A-3		Class A-4		Class A-5A		Class A-5B		Class A-5C		Class A-5D		Class A-5E		Class B
	i	Current Factor		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000		1.0000000000
	ii	Expected Note Balance	$	184,000,000.00	$	284,000,000.00	$	290,000,000.00	$	314,000,000.00	$	200,000,000.00	$	200,000,000.00	$	338,527,000.00	$	200,000,000.00	$	200,000,000.00	$	68,367,000.00

E	Note Principal Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
F	Interest Shortfall		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
G	Interest Carryover		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

H	Reserve Account Balance																				$	5,640,826.00
I	Unpaid Primary Servicing Fees from Prior Month(s)																				$	0.00
J	Unpaid Administration fees from Prior Quarter(s)																				$	0.00
K	Unpaid Carryover Servicing Fees from Prior Quarter(s)																				$	0.00
L	Interest Due on Unpaid Carryover Servicing Fees																				$	0.00

IX. 2003-4 Remarketing Fee and Trigger Events

	Remarketing Fee Account Reconciliation	A-5A		A-5B		A-5C		A-5D		A-5E		Total
	Next Reset Date		9/15/2005		3/17/2008		3/17/2008		3/15/2010		3/15/2010
i	Reset Period Target Amount	$	700,000	$	700,000	$	1,184,845	$	700,000	$	700,000	$	3,984,845
ii	Remarketing Fee Account Balance (net of inv earnings)	$	700,000	$	700,000	$	1,184,845	$	700,000	$	700,000	$	3,984,845

iii	Quarterly Funding Amount	$	—	$	—	$	—	$	—	$	—	$	—

X. 2003-4 Trigger Events

A	Has Stepdown Date Occurred?	N
	The Stepdown Date is the earlier of (1) 6/16/2008 or (2) the first date on which no class A notes remain outstanding.
B	Note Balance Trigger	N
	Class A Percentage	100.00	%
	Class B Percentage	0.00	%

XI. 2003-4 Waterfall for Distributions

					Remaining Funds Balance
A	Total Available Funds (Section III-K)		$	50,398,586.25	$	50,398,586.25
B	Primary Servicing Fees—Current Month		$	931,123.78	$	49,467,462.47
C	Administration Fee		$	25,000.00	$	49,442,462.47
D	Aggregate Quarterly Funding Amount		$	0.00	$	49,442,462.47
E	Noteholder's Interest Distribution Amounts
	i	Class A-1	$	413,495.28	$	49,028,967.19
	ii	Class A-2	$	647,845.42	$	48,381,121.77
	iii	Class A-3	$	691,015.63	$	47,690,106.14
	iv	Class A-4	$	812,049.79	$	46,878,056.35
	v	Class A-5A	$	708,000.00	$	46,170,056.35
	vi	Class A-5B	$	1,111,166.67	$	45,058,889.68
	vii	Class A-5C	$	841,063.28	$	44,217,826.40
	viii	Class A-5D	$	1,317,666.67	$	42,900,159.73
	ix	Class A-5E	$	527,395.83	$	42,372,763.90
	x	Aggregate Interest Rate Swap Payments	$	1,518,476.39	$	40,854,287.51

		Total	$	8,588,174.96
F	Class B Noteholders' Interest Distribution Amount		$	226,619.99	$	40,627,667.52
G	*Noteholder's Principal Distribution Amounts Paid (or set aside)**
	i	Class A-1	$	38,209,374.61	$	2,418,292.91
	ii	Class A-2	$	0.00	$	2,418,292.91
	iii	Class A-3	$	0.00	$	2,418,292.91
	iv	Class A-4	$	0.00	$	2,418,292.91
	v	Class A-5A	$	0.00	$	2,418,292.91
	vi	Class A-5B	$	0.00	$	2,418,292.91
	vii	Class A-5C	$	0.00	$	2,418,292.91
	viii	Class A-5D	$	0.00	$	2,418,292.91
	ix	Class A-5E	$	0.00	$	2,418,292.91

		Total	$	38,209,374.61
H	Increase to Supplemental Interest Account		$	0.00	$	2,418,292.91
I	Class B Noteholder's Principal Distribution Amount		$	0.00	$	2,418,292.91
J	Increase to the Specified Reserve Account		$	0.00	$	2,418,292.91
K	Carryover Servicing Fees		$	0.00	$	2,418,292.91
L	Remarketing Costs in Excess of Remarketing Fee Account		$	0.00	$	2,418,292.91
M	Excess to Excess Distribution Certificate Holder		$	2,418,292.91	$	0.00

*: Amounts allocated to classes of fixed rate reset notes are deposited into their accumulation account for distribution on the next related reset date

XII. 2003-4 Distributions

A	Distribution Amounts		Class A-1		Class A-2		Class A-3		Class A-4		Class A-5A		Class A-5B		Class A-5C		Class A-5D		Class A-5E		Class B
	i	Quarterly Interest Due	$	413,495.28	$	647,845.42	$	691,015.63	$	812,049.79	$	708,000.00	$	1,111,166.67	$	841,063.28	$	1,317,666.67	$	527,395.83	$	226,619.99
	ii	Quarterly Interest Paid		413,495.28		647,845.42		691,015.63		812,049.79		708,000.00		1,111,166.67		841,063.28		1,317,666.67		527,395.83		226,619.99

	iii	Interest Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	vii	Quarterly Principal Due	$	38,209,374.61	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	viii	Quarterly Principal Paid		38,209,374.61		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

	ix	Quarterly Principal Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

	x	Total Distribution Amount	$	38,622,869.89	$	647,845.42	$	691,015.63	$	812,049.79	$	708,000.00	$	1,111,166.67	$	841,063.28	$	1,317,666.67	$	527,395.83	$	226,619.99

B	Principal Distribution Reconciliation
	i	Notes Outstanding Principal Balance 4/16/2003	$	2,278,894,000.00
	ii	Adjusted Pool Balance 5/31/2003		2,240,684,625.39

	iii	Adjusted Pool Exceeding Notes Balance (i-ii)	$	38,209,374.61

	iv	Adjusted Pool Balance 3/17/2003	$	2,261,971,319.30
	v	Adjusted Pool Balance 5/31/2003		2,240,684,625.39

	vi	Current Principal Due (iv-v)	$	21,286,693.91
	vii	Notes Issued Exceeding Adjusted Pool Balance		16,922,680.70

	viii	Principal Distribution Amount (vi + vii)	$	38,209,374.61

	ix	Principal Distribution Amount Paid	$	38,209,374.61
	x	Principal Shortfall (viii-ix)	$	—
C	Total Principal Distribution		$	38,209,374.61
D	Total Interest Distribution			7,296,318.56

E	Total Cash Distributions		$	45,505,693.17

F	Reserve Account Reconciliation
	i	Beginning of Period Balance	$	5,640,826.00
	ii	Deposits to correct Shortfall	$	—
	iv	Total Reserve Account Balance Available	$	5,640,826.00
	v	Required Reserve Account Balance	$	5,587,742.21
	vi	Shortfall Carried to Next Period	$	—
	vii	Excess Reserve — Release to Waterfall	$	53,083.79
	viii	Ending Reserve Account Balance	$	5,587,742.21

G	Note Balances			4/16/2003		6/16/2003
	i	A-1 Note Balance	78442GGH3	$	184,000,000.00	$	145,790,625.39
		A-1 Note Pool Factor			1.0000000000		0.7923403554
	ii	A-2 Note Balance	78442GGJ9	$	284,000,000.00	$	284,000,000.00
		A-2 Note Pool Factor			1.0000000000		1.0000000000
	iii	A-3 Note Balance	78442GGK6	$	290,000,000.00	$	290,000,000.00
		A-3 Note Pool Factor			1.0000000000		1.0000000000
	iv	A-4 Note Balance	78442GGL4	$	314,000,000.00	$	314,000,000.00
		A-4 Note Pool Factor			1.0000000000		1.0000000000
	v	A-5A Note Balance	78442GGD2	$	200,000,000.00		200,000,000.00
		A-5A Note Pool Factor			1.0000000000		1.0000000000
	vi	A-5B Note Balance	78442GGE0	$	200,000,000.00	$	200,000,000.00
		A-5B Note Pool Factor			1.0000000000		1.0000000000
	vii	A-5C Note Balance	78442GGF7	$	338,527,000.00	$	338,527,000.00
		A-5C Note Pool Factor			1.0000000000		1.0000000000
	viii	A-5D Note Balance	78442GGG5	$	200,000,000.00	$	200,000,000.00
		A-5D Note Pool Factor			1.000000000		1.000000000
	ix	A-5E Note Balance	78442GGN0	$	200,000,000.00	$	200,000,000.00
		A-5E Note Pool Factor			1.000000000		1.000000000
	x	B Note Balance	78442GGM2	$	68,367,000.00	$	68,367,000.00
		B Note Pool Factor			1.0000000000		1.0000000000

XIII. 2003-4 Historical Pool Information

			3/17/03-5/31/03
Beginning Student Loan Portfolio Balance			$	2,246,024,417.20

	Student Loan Principal Activity
i		Regular Principal Collections	$	25,093,900.86
ii		Principal Collections from Guarantor		336,084.11
iii		Principal Reimbursements		5,561,676.60
iv		Other System Adjustments		—

v		Total Principal Collections	$	30,991,661.57
	Student Loan Non-Cash Principal Activity
i		Other Adjustments	$	252,902.64
ii		Capitalized Interest		(10,465,058.06	)

iii		Total Non-Cash Principal Activity	$	(10,212,155.42	)

(-) Total Student Loan Principal Activity			$	20,779,506.15

	Student Loan Interest Activity
i		Regular Interest Collections	$	18,041,795.04
ii		Interest Claims Received from Guarantors		3,421.80
iii		Collection Fees/Returned Items		2,150.66
iv		Late Fee Reimbursements		173,253.89
v		Interest Reimbursements		30,993.25
vi		Other System Adjustments		—
vii		Special Allowance Payments		—
viii		Subsidy Payments		—

ix		Total Interest Collections	$	18,251,614.64
	Student Loan Non-Cash Interest Activity
i		Interest Accrual Adjustment	$	(252,856.39	)
ii		Capitalized Interest		10,465,058.06

iii		Total Non-Cash Interest Adjustments	$	10,212,201.67

	Total Student Loan Interest Activity		$	28,463,816.31
(=) Ending Student Loan Portfolio Balance			$	2,225,244,911.05

(+) Interest to be Capitalized			$	9,851,972.13

(=) TOTAL POOL			$	2,235,096,883.18

(+) Reserve Account Balance			$	5,587,742.21

(=) Total Adjusted Pool			$	2,240,684,625.39

XIV. 2003-4 Payment History and CPRs

Distribution Date		Actual Pool Balances			Since Issued CPR *
Jun-03		$	2,235,096,883		2.23	%

*: "Since Issued CPR" is based on the current period's ending pool balance calculated against the original pool balance and assuming cutoff date pool data.