-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Me3nYRMD9NU8h7qxC41wSkWXZqyd93zeZ/mA/1MVwjEa6Cyetz/8fG4eitldCkAM MQBq7gmnylOJQP7+S6ipiQ== 0001047469-04-009978.txt : 20040330 0001047469-04-009978.hdr.sgml : 20040330 20040330134120 ACCESSION NUMBER: 0001047469-04-009978 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20031231 FILED AS OF DATE: 20040330 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SLM FUNDING LLC CENTRAL INDEX KEY: 0000949114 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 232815650 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-95474 FILM NUMBER: 04699603 BUSINESS ADDRESS: STREET 1: 11600 SALLIE MAE DRIVE STREET 2: 1ST FLOOR CITY: RESTON STATE: VA ZIP: 20193 BUSINESS PHONE: 703-810-3000 MAIL ADDRESS: STREET 1: 11600 SALLIE MAE DRIVE STREET 2: 1ST FLOOR CITY: RESTON STATE: VA ZIP: 20193 FORMER COMPANY: FORMER CONFORMED NAME: SLM FUNDING CORP DATE OF NAME CHANGE: 19960402 FORMER COMPANY: FORMER CONFORMED NAME: SALLIE MAE FUNDING CORP DATE OF NAME CHANGE: 19950808 10-K 1 a2130721z10-k.htm 10-K
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 10-K

(Mark One)

ý	Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the fiscal year ended December 31, 2002 or
o	Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from to

SLM FUNDING LLC
formerly known as SALLIE MAE FUNDING CORPORATION and SLM FUNDING CORPORATION
(Exact name of registrant as specified in its charter)

Depositor of

the Sallie Mae Student Loan Trust 1995-1,
the Sallie Mae Student Loan Trust 1996-1,
the SLM Student Loan Trust 1996-2,
the SLM Student Loan Trust 1996-3,
the SLM Student Loan Trust 1996-4,
the SLM Student Loan Trust 1997-1,
the SLM Student Loan Trust 1997-2,
the SLM Student Loan Trust 1997-3,
the SLM Student Loan Trust 1997-4,
the SLM Student Loan Trust 1998-1,
the SLM Student Loan Trust 1998-2,
the SLM Student Loan Trust 1999-1,
the SLM Student Loan Trust 1999-2,
the SLM Student Loan Trust 1999-3,
the SLM Student Loan Trust 2000-1,
the SLM Student Loan Trust 2000-2,
the SLM Student Loan Trust 2000-3,
the SLM Student Loan Trust 2000-4,
the SLM Student Loan Trust 2001-1,
the SLM Student Loan Trust 2001-2,
the SLM Student Loan Trust 2001-3,
the SLM Student Loan Trust 2001-4,

the SLM Student Loan Trust 2002-1,
the SLM Student Loan Trust 2002-2,
the SLM Student Loan Trust 2002-3,
the SLM Student Loan Trust 2002-4,
the SLM Student Loan Trust 2002-5,
the SLM Student Loan Trust 2002-6,
the SLM Student Loan Trust 2002-7,
the SLM Student Loan Trust 2002-8,
the SLM Student Loan Trust 2003-1,
the SLM Student Loan Trust 2003-2
the SLM Student Loan Trust 2003-3,
the SLM Student Loan Trust 2003-4,
the SLM Student Loan Trust 2003-5,
the SLM Student Loan Trust 2003-6,
the SLM Student Loan Trust 2003-7,
the SLM Student Loan Trust 2003-8,
the SLM Student Loan Trust 2003-9,
the SLM Student Loan Trust 2003-11,
the SLM Student Loan Trust 2003-12,
the SLM Student Loan Trust 2003-14,
the SLM Student Loan Trust 2004-1,
the SLM Student Loan Trust 2004-2, and
SLM Student Loan Trust 2004-3.

DELAWARE		33-95474/333-2502/333-24949/333-44465/333-30932/333-68660/333-97247		23-2815650
(State or other Jurisdiction of Incorporation)		(Commission File Numbers)		(I.R.S. employer Identification No.)

11600 SALLIE MAE DRIVE
RESTON, VA 20193
(Address of principal executive offices)

(703) 810-7600
Registrant's telephone number, including area code

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No o

Documents are incorporated by reference into this Form 10-K: None.

State the aggregate market value of the voting stock held by non-affiliates of the Registrant: None.

This Annual Report on Form 10-K is filed in reliance upon (i) certain no-action letters issued by the Office of Chief Counsel, Division of Corporate Finance of the Securities and Exchange Commission stating that the Division will not object if periodic reports filed by the registrant pursuant to Sections 13 and 15(d) of the Securities and Exchange Act of 1934 are filed in the manner set forth in such letters and the requests for such letters and (ii) the Registrant's filing letter accompanying the Registrant's Current Report on Form 8-K filed with the Commission on or about November 6, 1995 in which the Registrant described the manner in which it intended to file such periodic reports.

PART I.

Item 2. Properties.

SLM Funding LLC, the successor-in-interest to SLM Funding Corporation, is the depositor for 46 trusts, as of March 29, 2003. They are the Sallie Mae Student Loan Trust 1995-1, the Sallie Mae Student Loan Trust 1996-1, the SLM Student Loan Trust 1996-2, the SLM Student Loan Trust 1996-3, the SLM Student Loan Trust 1996-4, the SLM Student Loan Trust 1997-1, the SLM Student Loan Trust 1997-2, the SLM Student Loan Trust 1997-3, the SLM Student Loan Trust 1997-4, the SLM Student Loan Trust 1998-1, the SLM Student Loan Trust 1998-2, the SLM Student Loan Trust 1991-1, the SLM Student Loan Trust 1999-2, the SLM Student Loan Trust 1999-3, the SLM Student Loan Trust 2000-1, the SLM Student Loan Trust 2000-2, the SLM Student Loan Trust 2000-3, the SLM Student Loan Trust 2000-4, the SLM Student Loan Trust 2001-1, the SLM Student Loan Trust 2001-2, the SLM Student Loan Trust 2001-3, the SLM Student Loan Trust 2001-4, the SLM Student Loan Trust 2002-1, the SLM Student Loan Trust 2002-2, the SLM Student Loan Trust 2002-3, the SLM Student Loan Trust 2002-4, the SLM Student Loan Trust 2002-5, the SLM Student Loan Trust 2002-6, the SLM Student Loan Trust 2002-7, the SLM Student Loan Trust 2002-8, the SLM Student Loan Trust 2003-1, the SLM Student Loan Trust 2003-2, the SLM Student Loan Trust 2003-3, the SLM Student Loan Trust 2003-4, the SLM Student Loan Trust 2003-5, the SLM Student Loan Trust 2003-6, the SLM Student Loan Trust 2003-7, the SLM Student Loan Trust 2003-8, the SLM Student Loan Trust 2003-9, the SLM Student Loan Trust 2003-10 (non-registered transaction), the SLM Student Loan Trust 2003-11, the SLM Student Loan Trust 2003-12, the SLM Student Loan Trust 2003-14, the SLM Student Loan Trust 2004-1, the SLM Student Loan Trust 2004-2 and the SLM Student Loan Trust 2004-3 (collectively, the "Trusts"). The property of the Trusts consists of pools of education loans to students and parents of students made under the Federal Family Education Loan Program, all funds collected in respect thereof and monies on deposit in certain trust accounts together with rights to receive payments under certain swap transactions.

On an annual basis, each trust is required to provide statements of compliance of its servicers and administrators. The Annual Statements of Compliance for the Sallie Mae Student Loan Trust 1995-1 to and including the SLM Student Loan Trust 2003-14 are attached as Exhibit 19.1 hereto. These statements are required by

•: Section 3.2 of the Administration Agreements, dated thereto, by and among the Trusts party thereto, the Student Loan Marketing Association (the "Administrator"), Chase Manhattan Bank USA, National Association, formerly known as Chase Manhattan Bank, Delaware, not in its individual capacity but solely as Trustee (the "Eligible Lender Trustee"), Sallie Mae Inc. (the "Servicer"), SLM Funding LLC, formerly known as SLM Funding Corporation, and The Bank of New York, not in its individual capacity but solely as Indenture Trustee (the "Indenture Trustee"); and
•: the Master Administration Agreement, dated as of May 1, 1997, between SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, and the Administrator, as variously amended or supplemented (collectively, the "Administration Agreements").

Item 3. Legal Proceedings.

The Registrant knows of no material pending legal proceedings involving the Registrant or its property.

Item 4. Submission of Matters to a Vote of Security Holders.

Nothing to report.

PART II.

Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.

At December 31, 2003, there was one (1) registered holder of the Trusts' Floating Rate Student Loan-Backed Certificates ("Certificates"), CEDE & Co., as nominee of The Depository Trust Company ("DTC). At December 31, 2003, there were thirteen (13) different persons registered on the books of DTC as record owners of Certificates. The Registrant was a beneficial owner of some of the Certificates. There is no established trading market for the Certificates. The SLM Student Loan Trust 2000-4, the SLM Student Loan Trust 2001-1, the SLM Student Loan Trust 2001-2, the SLM Student Loan Trust 2001-3, the SLM Student Loan Trust 2001-4, the SLM Student Loan Trust 2002-1, the SLM Student Loan Trust 2002-2, the SLM Student Loan Trust 2002-3, the SLM Student Loan Trust 2002-4, the SLM Student Loan Trust 2002-5, the SLM Student Loan Trust 2002-6, the SLM Student Loan Trust 2002-7, the SLM Student Loan Trust 2002-8, the SLM Student Loan Trust 2003-4, the SLM Student Loan Trust 2003-5, the SLM Student Loan Trust 2003-6, the SLM Student Loan Trust 2003-7, the SLM Student Loan Trust 2003-8, the SLM Student Loan Trust 2003-9, the SLM Student Loan Trust 2003-10, the SLM Student Loan Trust 2003-11, the SLM Student Loan Trust 2003-12, the SLM Student Loan Trust 2003-14, the SLM Student Loan Trust 2004-1, the SLM Student Loan Trust 2004-2 and the SLM Student Loan Trust 2004-3 did not issue Certificates.

Item 7. Other Related Events and Information.

Nothing to report.

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

Nothing to report.

PART III.

Item 12. Security Ownership of Certain Beneficial Owners and Management.

At December 31, 2003, the Certificates held by the Registrant were registered in the name of CEDE and Co., as nominee of DTC. The books of DTC indicate that thirteen (13) different participant institutions are record owners of more than 5% of the Certificates.

DTC REGISTERED	DTC ID	Holder	Principal Amount		Percent
1996-1 Floating Rate Student Loan-Backed Certificates 795452AF8	902	JPMorgan Chase Bank C/O JP Morgan Investor Services 14201 Dallas Pkwy 12th Floor Mail Code 121 Dallas, TX 75254	$	13,000,000.00	24.76	%
	997	State Street Bank and Trust Co.* 1776 Heritage Dr. Global Corp Action Unit JAB 5NW No. Quincy, MA 02171	$	6,800,000.00	12.95	%
	2316	National City Bank 4100 West 150th St Cleveland, OH 44135	$	25,000,000.00	47.62	%

1996-2 Floating Rate Student Loan-Backed Certificates 78442GAC0	902	JPMorgan Chase Bank C/O JP Morgan Investor Services 14201 Dallas Pkwy 12th Floor Mail Code 121 Dallas, TX 75254	$	25,499,000.00	48.08	%
	954	Boston Safe Deposit and Trust Co.* 525 William Penn Place Suite 3418 Pittsburgh, PA 15259	$	19,800,000.00	37.34	%
	2027	Wells Fargo Bank Minnesota, N. A. C/O ADP Proxy Services 51 Mercedes Way Edgewood, NY 11717	$	6,200,000.00	11.69	%

1996-3 Floating Rate Student Loan-Backed Certificates 78442GAF3	50	Morgan Stanley & Co. Incorporated One Pierrepont Plaza 7th Floor Brooklyn, NY 11201	$	10,222,500.00	19.38	%
	902	JPMorgan Chase Bank C/O JP Morgan Investor Services 14201 Dallas Pkwy 12th Floor Mail Code 121 Dallas, TX 75254	$	2,775,000.00	5.26	%
	2316	National City Bank 4100 West 150th St Cleveland, OH 44135	$	17,000,000.00	32.23	%

	2027	Wells Fargo Bank Minnesota, N. A. C/O ADP Proxy Services 51 Mercedes Way Edgewood, NY 11717	$	8,000,000.00	15.17	%
	954	Boston Safe Deposit and Trust Co.* 525 William Penn Place Suite 3418 Pittsburgh, PA 15259	$	12,150,000.00	23.03	%

1996-4 Floating Rate Student Loan-Backed Certificates 78442GAJ5	954	Boston Safe Deposit and Trust Co.* 525 William Penn Place Suite 3631 Pittsburgh, PA 15259	$	8,000,000.00	15.18	%
	2379	The Bank of New York/JPMorgan PPB One Wall Street New York, NY 10286	$	15,300,000.00	29.03	%
	50	Morgan Stanley & Co. Incorporated One Pierrepont Plaza 7th Floor Brooklyn, NY 11201	$	4,873,000.00	9.25	%
	2162	Bank of New York/Kore One Wall Street New York, NY 10286	$	3,000,000.00	5.69	%
	902	JPMorgan Chase Bank C/O JP Morgan Investor Services 14201 Dallas Pkwy 12th Floor Mail Code 121 Dallas, TX 75254	$	10,000,000.00	18.98	%
	997	State Street Bank and Trust Co.* 1776 Heritage Dr. Global Corp Action Unit JAB 5NW No. Quincy, MA 02171	$	7,430,000.00	14.10	%

1997-1 Floating Rate Student Loan-Backed Certificates 78442GAM8	2379	Bank of New York/JP Morgan 1 Wall Street New York, NY 10286	$	13,000,000.00	18.11	%
	954	Boston Safe Deposit and Trust Co.* 525 William Penn Place Suite 3418 Pittsburgh, PA 15259	$	26,000,000.00	36.21	%
	274	Citigroup Global Markets Inc./Salomon Bros. 333 W 34th Street 3rd Floor New York, NY 10001	$	8,800,000.00	12.26	%

	902	JPMorgan Chase Bank C/O JP Morgan Investor Services 14201 Dallas Pkwy 12th Floor Mail Code 121 Dallas, TX 75254	$	22,000,000.00	30.64	%

1997-2 Floating Rate Student Loan-Backed Certificates 78442GAQ9	2379	Bank of New York/JP Morgan 1 Wall Street New York, NY 10286	$	20,000,000.00	22.87	%
	903	Deutsche Bank Trust Company America 648 Grassmere park Road Nashville, TN 37211	$	30,000,000.00	34.31	%
	384	BNY Clearing International Services Division One Pershing Plaza Jersey City, NJ 07399	$	10,000,000.00	11.44	%
	902	JPMorgan Chase Bank C/O JP Morgan Investor Services 14201 Dallas Pkwy 12th Floor Mail Code 121 Dallas, TX 75254	$	15,605,000.00	17.84	%
	2027	Wells Fargo Bank Minnesota N. A. c/o ADP Proxy Services Edgewood, NY 11717	$	5,000,000.00	5.72	%

1997-3 Floating Rate Student Loan-Backed Certificates 78442GAT3	2379	Bank of New York/JP Morgan 1 Wall Street New York, NY 10286	$	48,650,000.00	53.97	%
	384	BNY Clearing International Services Division One Pershing Plaza Jersey City, NJ 07399	$	12,150,000.00	13.48	%
	903	Deutsche Bank Trust Company America 648 Grassmere park Road Nashville, TN 37211	$	12,200,000.00	13.53	%
	997	State Street Bank and Trust Co.* 1776 Heritage Dr. Global Corp Action Unit JAB 5NW No. Quincy, MA 02171	$	5,000,000.00	5.55	%
	954	Boston Safe Deposit and Trust Co.* 525 William Penn Place Suite 3418 Pittsburgh, PA 15259	$	12,150,000.00	13.48	%


1997-4 Floating Rate Student Loan-Backed Certificates 78442GAW6	2379	Bank of New York/JP Morgan 1 Wall Street New York, NY 10286	$	89,900,000.00	100.00	%

1998-1 Floating Rate Student Loan-Backed Certificates 78442GAZ9	2379	Bank of New York/JP Morgan 1 Wall Street New York, NY 10286	$	81,550,000.00	76.54	%
	2027	Wells Fargo Bank Minnesota N. A. c/o ADP Proxy Services Edgewood, NY 11717	$	8,600,000.00	8.07	%
	954	Boston Safe Deposit and Trust Co.* 525 William Penn Place Suite 3418 Pittsburgh, PA 15259	$	5,650,000.00	5.30	%
	997	State Street Bank and Trust Co.* 1776 Heritage Dr. Global Corp Action Unit JAB 5NW No. Quincy, MA 02171	$	6,000,000.00	5.63	%

1998-2 Floating Rate Student Loan-Backed Certificates 78442GBC9	2379	Bank of New York/JP Morgan 1 Wall Street New York, NY 10286	$	90,750,000.00	85.82	%
	384	BNY Clearing International Services Division One Pershing Plaza Jersey City, NJ 07399	$	10,000,000.00	9.46	%

1999-1 Floating Rate Student Loan-Backed Certificates 78442GBH8	903	Deutsche Bank Trust Company America 648 Grassmere park Road Nashville, TN 37211	$	36,060,000.00	100.00	%

1999-2 Floating Rate Student Loan-Backed Certificates 78442GBN5	903	Deutsche Bank Trust Company America 648 Grassmere park Road Nashville, TN 37211	$	36,000,000.00	100.00	%

1999-3 Floating Rate Student Loan-Backed Certificates 78442GBR6	901	The Bank of New York One Wall Street New York, NY 10286	$	42,300,000.00	58.51	%

	997	State Street Bank and Trust Co.* 1776 Heritage Dr. Global Corp Action Unit JAB 5NW No. Quincy, MA 02171	$	6,000,000.00	8.30	%
	2027	Wells Fargo Bank Minnesota N. A. c/o ADP Proxy Services Edgewood, NY 11717	$	15,000,000.00	20.75	%
	954	Boston Safe Deposit and Trust Co.* 525 William Penn Place Suite 3418 Pittsburgh, PA 15259	$	6,000,000.00	8.30	%

2000-1 Floating Rate Student Loan-Backed Certificates 78442GBW5	903	Deutsche Bank Trust Company America 648 Grassmere park Road Nashville, TN 37211	$	40,000,000.00	55.78	%
	384	BNY Clearing International Services Division One Pershing Plaza Jersey City, NJ 07399	$	10,000,000.00	13.95	%
	5	Goldman Sachs & Co. 180 Maiden Lane New York, NY 10038	$	15,210,000.00	21.21	%
	902	JPMorgan Chase Bank Proxy/Class Actions/Bankruptcy 14201 Dallas Pkwy 12th Floor Mail Code 121 Dallas, TX 75254	$	6,500,000.00	9.06	%

2000-2 Floating Rate Student Loan-Backed Certificates 78442GCB0	903	Deutsche Bank Trust Company America 648 Grassmere park Road Nashville, TN 37211	$	31,290,000.00	43.28	%
	384	BNY Clearing International Services Division One Pershing Plaza Jersey City, NJ 07399	$	10,000,000.00	13.83	%
	5	Goldman Sachs & Co. 180 Maiden Lane New York, NY 10038	$	10,000,000.00	13.83	%
	902	JPMorgan Chase Bank Proxy/Class Actions/Bankruptcy 14201 Dallas Pkwy 12th Floor Mail Code 121 Dallas, TX 75254	$	21,000,000.00	29.05	%

2000-3 Floating Rate Student Loan-Backed Certificates 78442GCF1		903		Deutsche Bank Trust Company America 648 Grassmere park Road Nashville, TN 37211		$	74,750,000.00		83.29	%
		384		BNY Clearing International Services Division One Pershing Plaza Jersey City, NJ 07399		$	15,000,000.00		16.71	%

*: Participants who use ADP as their proxy contact

Item 13. Certain Relationships and Related Transactions.

Nothing to Report.

PART IV.

Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K.

(a) Exhibits. The following documents are filed as part of this Annual Report on Form 10-K:

Designation	Description
Exhibit 19.1	Annual Statements of Compliance of the Administrator and the Servicer
Exhibit 19.2	Annual Independent Certified Public Accountant's Report

(b) Reports on Form 8-K. We filed twenty-one (21) Current Reports on Form 8-K with the Commission during the period covered by this report. They are:

•: On January 2, 2003 in connection with the December 15, 2002 Quarterly Distribution Report;
•: On February 6, 2003 in connection with the closing of SLM Student Loan Trust 2003-1;
•: On February 6, 2003 in connection with the January 25, 2003 Quarterly Distribution Report;
•: On March 7, 2003 in connection with the closing of SLM Student Loan Trust 2003-2;
•: On March 24, 2003 in connection with the March 15, 2003 Quarterly Distribution Report;
•: On April 1, 2003 in connection with the closing of SLM Student Loan Trust 2003-3;
•: On April 24, 2003 in connection with the closing of SLM Student Loan Trust 2003-4;
•: On May 1, 2003 in connection with the April 25, 2003 Quarterly Distribution Report;
•: On May 22, 2003 in connection with the closing of SLM Student Loan Trust 2003-5;
•: On June 11, 2003 in connection with the closing of SLM Student Loan Trust 2003-6;
•: On June 24, 2003 in connection with the June 15, 2003 Quarterly Distribution Report;
•: On July 29, 2003 in connection with the closing of SLM Student Loan Trust 2003-7;
•: On June 31, 2003 in connection with the June 25, 2003 Quarterly Distribution Report;
•: On August 12, 2003 in connection with the closing of SLM Student Loan Trust 2003-8;
•: On September 4, 2003 in connection with the closing of SLM Student Loan Trust 2003-9;
•: On September 26, 2003 in connection with the September 15, 2003 Quarterly Distribution Report;
•: On November 4, 2003 in connection with the October 25, 2003 Quarterly Distribution Report;
•: On November 5, 2003 in connection with the closing of SLM Student Loan Trust 2003-11;
•: On December 3, 2003 in connection with the closing of SLM Student Loan Trust 2003-12;
•: On December 17, 2003 in connection with the closing of SLM Student Loan Trust 2003-14; and
•: On December 23, 2003 in connection with the December 15, 2003 Quarterly Distribution Report.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: March 30, 2003		SLM FUNDING LLC
		By:	/s/ JOHN F. REMONDI Name: John F. Remondi Title: President

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities indicated on the dates indicated.

Signature	Title	Date

/s/ JOHN F. REMONDI John F. Remondi	President (Principal Executive Officer) and Manager	March 30, 2003
/s/ C.E. ANDREWS C. E. Andrews	Chief Financial Officer (Principal Financial Officer) and Manager	March 30, 2003
/s/ TIMOTHY FITZPATRICK Timothy Fitzpatrick	Manager	March 30, 2003
Victor A. Duva	Independent Manager	March 30, 2003
Kennith J. Uva	Independent Manager	March 30, 2003

CERTIFICATION

I, John F. Remondi, certify that:

1. I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing distribution or servicing reports filed in respect of periods included in the year covered by this annual report, of SLM Funding LLC;

2. Based on my knowledge, the information in these reports, taken as a while, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report;

3. Based on my knowledge, the distribution or servicing information required to be provided to the trustee by the servicer under the pooling and servicing, or similar, agreement, for inclusion in these reports is included in these reports;

4. Based on my knowledge and upon the annual compliance statement included in the report and required to be delivered to the trustee in accordance with the terms of the pooling and servicing, or similar, agreement, and except as disclosed in the reports, the servicer has fulfilled its obligations under the servicing agreement; and

5. The reports disclose all significant deficiencies relating to the servicer's compliance with the minimum servicing standards based upon the report provided by an independent public accountant, after conducting a review in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar procedures, as set forth in the pooling and servicing, or similar, agreement, that is included in these reports.

Date: March 30, 2003

/s/ JOHN F. REMONDI
John F. Remondi
President
SLM Funding LLC

CERTIFICATION

I, C. E. Andrews, certify that:

Date: March 30, 2003

/s/ C.E. ANDREWS
C.E. Andrews
Chief Financial Officer
SLM Funding LLC

INDEX TO EXHIBITS

Exhibit Number		Exhibit		Sequentially Numbered Page
19.1		Annual Statements of Compliance of the Administrator and the Servicer		17
19.2		Annual Independent Certified Public Accountant's Report		105

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PART I.

Item 2. Properties.

Item 3. Legal Proceedings.

Item 4. Submission of Matters to a Vote of Security Holders.

PART II.

Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.

Item 7. Other Related Events and Information.

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

PART III.

Item 12. Security Ownership of Certain Beneficial Owners and Management.

Item 13. Certain Relationships and Related Transactions.

PART IV.

Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K.

SIGNATURES
CERTIFICATION
CERTIFICATION
INDEX TO EXHIBITS
EX-19.1 3 a2130721zex-19_1.htm EXHIBIT 19.1
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Exhibit 19.1

SLM Student Loan Trust 1995-1
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2003

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2003 through October 27,2003 under this Agreement and under the Servicing Agreement dated as of October 26,1995 (as amended and restated as of April 26, 1996) has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C.E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

Sallie Mae Student Loan Trust 1995-1
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from January 1, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance

SLM Student Loan Trust 1996-1
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of March 6,1996 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C.E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

Sallie Mae Student Loan Trust 1996-1
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance

SLM Student Loan Trust 1996-2
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
		Copy: The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of April 26,1996 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C.E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1996-2
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 1996-3
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of July 9, 1996 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1996-3
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 1996-4
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of October 3, 1996 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1996-4
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 1997-1
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of March 20, 1997 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1997-1
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 1997-2
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of June 18, 1997 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1997-2
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 1997-3
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of September 11, 1997 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1997-3
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 1997-4
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of November 12, 1997 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1997-4
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 1998-1
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of March 19, 1998 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1998-1
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 1998-2
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of June 18, 1998 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1998-2
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 1999-1
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of June 29, 1999 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1999-1
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 1999-2
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of August 12, 1999 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1999-2
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 1999-3
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of December 1, 1999 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 1999-3
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2000-1
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Rd
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of February 15, 2000 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2000-1
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance

SLM Student Loan Trust 2000-2
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of March 28, 2000 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2000-2
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2000-3
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A.
		450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of April 26, 2000 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2000-3
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2000-4
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company America	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A.
		450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004under this Agreement and under the Servicing Agreement dated as of September 26, 2000 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2000-4
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2001-1
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A.
		450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of March 08, 2001 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2001-1
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2001-2
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A.
		450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of June 07, 2001 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2001-2
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2001-3
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A.
		450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of August 02, 2001 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2001-3
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2001-4
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of December 12, 2001 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2001-4
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2002-1
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of March 05, 2002 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2002-1
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2002-2
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of March 28, 2002 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2002-2
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY Mark Daly Managing Director, Corporate Finance		/s/ J. LANCE FRANKE J. Lance Franke Sr. Vice President, Corporate Finance
Sallie Mae, Inc.		Sallie Mae, Inc.

SLM Student Loan Trust 2002-3
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, New Jersey 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of May 14, 2002 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2002-3
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2002-4
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	Deutsche Bank Trust Company Americas	Chase Manhattan Bank USA, National Association
	100 Plaza One, MS JCY03 0606	Christiana Center/OPS4, 500 Stanton Christiana Road
	Jersey City, NJ 07311	Newark, Delaware 19713
	Attn: Corporate Trust & Agency Group	Attn: Corporate Trust Department
Copy:		The Chase Manhattan Bank, N.A. 450 West 33^rd Street 15^th floor New York, New York 10001 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of July 09, 2002 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2002-4
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
Deutsche Bank Trust Company Americas		Chase Manhattan Bank USA, NA
60 Wall Street, 26th Floor		500 Stanton Christiana Rd
MS NYC60-2606/CTAG		3rd Floor/OPS4
New York, NY 10005		Newark, DE 19713
Attn: Michele Voon		Corporate Trust Division
(212) 250-7699		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2002-5
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York	Chase Manhattan Bank USA, National Association
	One Wall Street	Christiana Center/OPS4, 500 Stanton Christiana Road
	New York, New York 10286	Newark, Delaware 19713
	Attn: Corporate Trust-Structured Finance	Attn: Corporate Trust Department
Copy:	The Bank of New York	The Chase Manhattan Bank, N.A.
	2 North LaSalle Street Suite 1020	450 West 33^rd Street 15^th Floor
	Chicago, Illinois 60602	New York, New York 10001
	Attn: Corporate Trust-Structured Finance	Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of August 29, 2002 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2002-5
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York		Chase Manhattan Bank USA, NA
2 North LaSalle St		500 Stanton Christiana Rd
Suite 1020		3rd Floor/OPS4
Chicago, IL 60602		Newark, DE 19713
Attn: Eric Lindahl		Corporate Trust Division
(312) 827-8564		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2002-6
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York	Chase Manhattan Bank USA, National Association
	One Wall Street	Christiana Center/OPS4, 500 Stanton Christiana Road
	New York, New York 10286	Newark, Delaware 19713
	Attn: Corporate Trust-Structured Finance	Attn: Corporate Trust Department
Copy:	The Bank of New York	The Chase Manhattan Bank, N.A.
	2 North LaSalle Street Suite 1020	450 West 33^rd Street 15^th Floor
	Chicago, Illinois 60602	New York, New York 10001
	Attn: Corporate Trust-Structured Finance	Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of November 05, 2002 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2002-6
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York		Chase Manhattan Bank USA, NA
2 North LaSalle St		500 Stanton Christiana Rd
Suite 1020		3rd Floor/OPS4
Chicago, IL 60602		Newark, DE 19713
Attn: Eric Lindahl		Corporate Trust Division
(312) 827-8564		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2002-7
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York	Chase Manhattan Bank USA, National Association
	One Wall Street	Christiana Center/OPS4, 500 Stanton Christiana Road
	New York, New York 10286	Newark, Delaware 19713
	Attn: Corporate Trust-Structured Finance	Attn: Corporate Trust Department
Copy:	The Bank of New York	JP Morgan Chase Bank
	2 North LaSalle Street Suite 1020	450 West 33^rd Street 15^th Floor
	Chicago, Illinois 60602	New York, New York 10001
	Attn: Corporate Trust-Structured Finance	Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of November 26, 2002 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2002-7
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York		Chase Manhattan Bank USA, NA
2 North LaSalle St		500 Stanton Christiana Rd
Suite 1020		3rd Floor/OPS4
Chicago, IL 60602		Newark, DE 19713
Attn: Eric Lindahl		Corporate Trust Division
(312) 827-8564		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2002-8
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York	Chase Manhattan Bank USA, National Association
	101 Barclay Street, 12 East One	Christiana Center/OPS4, 500 Stanton Christiana Road
	New York, New York 10286	Newark, Delaware 19713
	Attn: Corporate Trust-Structured Finance	Attn: Corporate Trust Department
Copy:	The Bank of New York	JP Morgan Chase Bank
	2 North LaSalle Street Suite 1020	450 West 33^rd Street 15^th Floor
	Chicago, Illinois 60602	New York, New York 10001
	Attn: Corporate Trust-Structured Finance	Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of December 18, 2002 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2002-8
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York		Chase Manhattan Bank USA, NA
2 North LaSalle St		500 Stanton Christiana Rd
Suite 1020		3rd Floor/OPS4
Chicago, IL 60602		Newark, DE 19713
Attn: Eric Lindahl		Corporate Trust Division
(312) 827-8564		(302) 552-6279

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-1
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York	Chase Manhattan Bank USA, National Association
	One Wall Street	Christiana Center/OPS4, 500 Stanton Christiana Road
	New York, New York 10286	Newark, Delaware 19713
	Attn: Corporate Trust-Structured Finance	Attn: Corporate Trust Department
Copy:	The Bank of New York	JP Morgan Chase Bank
	2 North LaSalle Street Suite 1020	450 West 33^rd Street 15^th Floor
	Chicago, Illinois 60602	New York, New York 10001
	Attn: Corporate Trust-Structured Finance	Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of January 31, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-1
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York		Chase Manhattan Bank USA, NA
2 North LaSalle St		500 Stanton Christiana Rd
Suite 1020		3rd Floor/OPS4
Chicago, IL 60602		Newark, DE 19713
Attn: Eric Lindahl		Corporate Trust Division
(312) 827-8564		(302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from January 31, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-2
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York	Chase Manhattan Bank USA, National Association
	101 Barclay Street 8 West	Christiana Center/OPS4, 500 Stanton Christiana Road
	New York, New York 10286	Newark, Delaware 19713
	Attn: Corporate Trust-Structured Finance	Attn: Corporate Trust Department
Copy:	The Bank of New York	JP Morgan Chase Bank
	2 North LaSalle Street Suite 1020	450 West 33^rd Street 15^th Floor
	Chicago, Illinois 60602	New York, New York 10001
	Attn: Corporate Trust-Structured Finance	Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of March 04, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-2
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York		Chase Manhattan Bank USA, NA
2 North LaSalle St		500 Stanton Christiana Rd
Suite 1020		3rd Floor/OPS4
Chicago, IL 60602		Newark, DE 19713
Attn: Eric Lindahl		Corporate Trust Division
(312) 827-8564		(302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from March 4, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-3
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York	Chase Manhattan Bank USA, National Association
	101 Barclay Street 8 West	Christiana Center/OPS4, 500 Stanton Christiana Road
	New York, New York 10286	Newark, Delaware 19713
	Attn: Corporate Trust-Structured Finance	Attn: Corporate Trust Department
Copy:	The Bank of New York	JP Morgan Chase Bank
	2 North LaSalle Street Suite 1020	450 West 33^rd Street 15^th Floor
	Chicago, Illinois 60602	New York, New York 10001
	Attn: Corporate Trust-Structured Finance	Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of March 26, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-3
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York		Chase Manhattan Bank USA, NA
2 North LaSalle St		500 Stanton Christiana Rd
Suite 1020		3rd Floor/OPS4
Chicago, IL 60602		Newark, DE 19713
Attn: Eric Lindahl		Corporate Trust Division
(312) 827-8564		(302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from March 26, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-4
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York	Chase Manhattan Bank USA, National Association
	101 Barclay Street 8 West	Christiana Center/OPS4, 500 Stanton Christiana Road
	New York, New York 10286	Newark, Delaware 19713
	Attn: Corporate Trust-Structured Finance	Attn: Corporate Trust Department
Copy:	The Bank of New York	JP Morgan Chase Bank
	2 North LaSalle Street Suite 1020	450 West 33^rd Street 15^th Floor
	Chicago, Illinois 60602	New York, New York 10001
	Attn: Corporate Trust-Structured Finance	Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of April 16, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-4
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York		Chase Manhattan Bank USA, NA
2 North LaSalle St		500 Stanton Christiana Rd
Suite 1020		3rd Floor/OPS4
Chicago, IL 60602		Newark, DE 19713
Attn: Eric Lindahl		Corporate Trust Division
(312) 827-8564		(302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from April 16, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-5
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York	Chase Manhattan Bank USA, National Association
	101 Barclay Street 8 West	Christiana Center/OPS4, 500 Stanton Christiana Road
	New York, New York 10286	Newark, Delaware 19713
	Attn: Corporate Trust-Structured Finance	Attn: Corporate Trust Department
Copy:	The Bank of New York	JP Morgan Chase Bank
	2 North LaSalle Street Suite 1020	450 West 33^rd Street 15^th Floor
	Chicago, Illinois 60602	New York, New York 10001
	Attn: Corporate Trust-Structured Finance	Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of May 20th, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-5
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York		Chase Manhattan Bank USA, NA
2 North LaSalle St		500 Stanton Christiana Rd
Suite 1020		3rd Floor/OPS4
Chicago, IL 60602		Newark, DE 19713
Attn: Eric Lindahl		Corporate Trust Division
(312) 827-8564		(302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from May 20, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-6
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York	Chase Manhattan Bank USA, National Association
	101 Barclay Street 8 West	Christiana Center/OPS4, 500 Stanton Christiana Road
	New York, New York 10286	Newark, Delaware 19713
	Attn: Corporate Trust-Structured Finance	Attn: Corporate Trust Department
Copy:	The Bank of New York	JP Morgan Chase Bank
	2 North LaSalle Street Suite 1020	450 West 33^rd Street 15^th Floor
	Chicago, Illinois 60602	New York, New York 10001
	Attn: Corporate Trust-Structured Finance	Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of June 5, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-6
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York		Chase Manhattan Bank USA, NA
2 North LaSalle St		500 Stanton Christiana Rd
Suite 1020		3rd Floor/OPS4
Chicago, IL 60602		Newark, DE 19713
Attn: Eric Lindahl		Corporate Trust Division
(312) 827-8564		(302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from June 5, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-7
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York	Chase Manhattan Bank USA, National Association
	101 Barclay Street 8 West	Christiana Center/OPS4, 500 Stanton Christiana Road
	New York, New York 10286	Newark, Delaware 19713
	Attn: Corporate Trust-Structured Finance	Attn: Corporate Trust Department
Copy:	The Bank of New York	JP Morgan Chase Bank
	2 North LaSalle Street Suite 1020	4 New York Plaza
	Chicago, Illinois 60602	New York, New York 10004
	Attn: Corporate Trust-Structured Finance	Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of July 22, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-7
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York		Chase Manhattan Bank USA, NA
2 North LaSalle St		500 Stanton Christiana Rd
Suite 1020		3rd Floor/OPS4
Chicago, IL 60602		Newark, DE 19713
Attn: Eric Lindahl		Corporate Trust Division
(312) 827-8564		(302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from July 22, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-8
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York 101 Barclay Street 8 West New York, New York 10286 Attn: Corporate Trust-Structured Finance	Chase Manhattan Bank USA, National Association Christiana Center/OPS4, 500 Stanton Christiana Road Newark, Delaware 19713 Attn: Corporate Trust Department
Copy:	The Bank of New York 2 North LaSalle Street Suite 1020 Chicago, Illinois 60602 Attn: Corporate Trust-Structured Finance	JP Morgan Chase Bank 4 New York Plaza New York, New York 10004 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of August 7, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-8
Officer's Certificate

Indenture Trustee
The Bank of New York
2 North LaSalle St
Suite 1020
Chicago, IL 60602
Attn: Eric Lindahl
(312) 827-8564

Eligible Lender Trustee
Chase Manhattan Bank USA, NA
500 Stanton Christiana Rd
3^rd Floor/OPS4
Newark, DE 19713
Corporate Trust Division
(302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from August 7, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-9
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

*TO:*	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York 101 Barclay Street 8 West New York, New York 10286 Attn: Corporate Trust-Structured Finance	Chase Manhattan Bank USA, National Association Christiana Center/OPS4, 500 Stanton Christiana Road Newark, Delaware 19713 Attn: Corporate Trust Department
Copy:	The Bank of New York 2 North LaSalle Street Suite 1020 Chicago, Illinois 60602 Attn: Corporate Trust-Structured Finance	JP Morgan Chase Bank 4 New York Plaza New York, New York 10004 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of August 28, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-9
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York 2 North LaSalle St Suite 1020 Chicago, IL 60602 Attn: Eric Lindahl (312) 827-8564		Chase Manhattan Bank USA, NA 500 Stanton Christiana Rd 3^rd Floor/OPS4 Newark, DE 19713 Corporate Trust Division (302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from August 28, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-11
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York 101 Barclay Street 8 West New York, New York 10286 Attn: Corporate Trust-Structured Finance	Chase Manhattan Bank USA, National Association Christiana Center/OPS4, 500 Stanton Christiana Road Newark, Delaware 19713 Attn: Corporate Trust Department
Copy:	The Bank of New York 2 North LaSalle Street Suite 1020 Chicago, Illinois 60602 Attn: Corporate Trust-Structured Finance	JP Morgan Chase Bank 4 New York Plaza New York, New York 10004 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of October 30, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-11
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York 2 North LaSalle St Suite 1020 Chicago, IL 60602 Attn: Eric Lindahl (312) 827-8564		Chase Manhattan Bank USA, NA 500 Stanton Christiana Rd 3^rd Floor/OPS4 Newark, DE 19713 Corporate Trust Division (302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from October 30, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-12
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York 101 Barclay Street 8 West New York, New York 10286 Attn: Corporate Trust-Structured Finance	Chase Manhattan Bank USA, National Association Christiana Center/OPS4, 500 Stanton Christiana Road Newark, Delaware 19713 Attn: Corporate Trust Department
Copy:	The Bank of New York 2 North LaSalle Street Suite 1020 Chicago, Illinois 60602 Attn: Corporate Trust-Structured Finance	JP Morgan Chase Bank 4 New York Plaza New York, New York 10004 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of November 25, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-12
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York 2 North LaSalle St Suite 1020 Chicago, IL 60602 Attn: Eric Lindahl (312) 827-8564		Chase Manhattan Bank USA, NA 500 Stanton Christiana Rd 3^rd Floor/OPS4 Newark, DE 19713 Corporate Trust Division (302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from November 25, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

SLM Student Loan Trust 2003-14
Officer's Certificate of the Servicer
Annual Statement of Compliance
As of December 31, 2004

TO:	*Indenture Trustee*	*Eligible Lender Trustee*
	The Bank of New York 101 Barclay Street 8 West New York, New York 10286 Attn: Corporate Trust-Structured Finance	Chase Manhattan Bank USA, National Association Christiana Center/OPS4, 500 Stanton Christiana Road Newark, Delaware 19713 Attn: Corporate Trust Department
Copy:	The Bank of New York 2 North LaSalle Street Suite 1020 Chicago, Illinois 60602 Attn: Corporate Trust-Structured Finance	JP Morgan Chase Bank 4 New York Plaza New York, New York 10004 Attn: Structured Finance Services

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we hereby certify that (i) a review of the activities and performance of the Servicer from January 1, 2004 through December 31, 2004 under this Agreement and under the Servicing Agreement dated as of December 11, 2003 has been made under our supervision, and (ii) to the best of our knowledge, the Servicer has fulfilled its obligations in all material respects under this Agreement and under the Servicing Agreement throughout such period.

SALLIE MAE Inc., as Servicer
11600 Sallie Mae Drive
Reston, Virginia 20193

/s/ ROBERT A. CRAWFORD Robert A. Crawford, Senior Vice President and Controller

/s/ C. E. ANDREWS C. E. Andrews, Executive Vice President, Accounting and Risk Management

SLM Student Loan Trust 2003-14
Officer's Certificate

*Indenture Trustee*		*Eligible Lender Trustee*
The Bank of New York 2 North LaSalle St Suite 1020 Chicago, IL 60602 Attn: Eric Lindahl (312) 827-8564		Chase Manhattan Bank USA, NA 500 Stanton Christiana Rd 3^rd Floor/OPS4 Newark, DE 19713 Corporate Trust Division (302) 552-6279

Pursuant to Section 3.2 of the Administration Agreement (the "Agreement"), we, the undersigned, hereby certify that (i) a review of the activities and performance of the Administrator from December 11, 2003 through December 31, 2003 has been made under our supervision and (ii) to the best of our knowledge, based on such review, the Administrator has fulfilled its obligations in all material respects under the Agreement throughout such period.

February 11, 2004

Sallie Mae, Inc., as Administrator

/s/ MARK DALY

Mark Daly
Managing Director, Corporate Finance
Sallie Mae, Inc.

/s/ J. LANCE FRANKE

J. Lance Franke
Sr. Vice President, Corporate Finance
Sallie Mae, Inc.

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Exhibit 19.1

EX-19.2 4 a2130721zex-19_2.htm EXHIBIT 19.2
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Exhibit 19.2

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1995-1

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1995-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting management's assertion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

This report is intended solely for the information and use of management, the board of directors, Chase Manhattan Bank USA, National Association and Deutsche Bank Trust Company Americas and is not intended to be and should not be used by anyone other than these specified parties.

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1995-1. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

We have performed an evaluation of the Company's compliance with the conditions of the Sections in the Agreement indicated above. Based on the evaluation, we assert that the Company complied, in all material respects, with the terms and conditions of the Sections in the Agreement indicated above for the year ended December 31, 2003.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1995-1

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1995-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement the Company complied, in all material respects, with the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1995-1. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

On an ongoing basis we evaluate the Company's compliance with the terms and conditions of the Sections in Agreement indicated above. Based on this management oversight and evaluation, we assert that the Company complied, in all material respects, with the terms and conditions of the Sections in the Agreement indicated above for the year ended December 31, 2003.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1996-1

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-1. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1996-1

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-1. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1996-2

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-2. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1996-2

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-2. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1996-3

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-3. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1996-3

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-3. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1996-4

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-4, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-4. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1996-4

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-4, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1996-4. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1997-1

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-1. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1997-1

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-1. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1997-2

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-2. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1997-2

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yous,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-2. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1997-3

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-3. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1997-3

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-3. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1997-4

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-4, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-4. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1997-4

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-4, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1997-4. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1998-1

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1998-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1998-1. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1998-1

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1998-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1998-1. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1998-2

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1998-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1998-2. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1998-2

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1998-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1998-2. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1999-1

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-1. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1999-1

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-1. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1999-2

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-2. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1999-2

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-2. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1999-3

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-3. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 1999-3

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 1999-3. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2000-1

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-1. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2000-1

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-1. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2000-2

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-2. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2000-2

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-2. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2000-3

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-3. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2000-3

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-3. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2000-4

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-4, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-4. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2000-4

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-4, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.A, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2000-4. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2001-1

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-1. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2001-1

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-1. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2001-2

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very yours truly,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-2. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2001-2

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-2. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2001-3

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very yours truly,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-3. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2001-3

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-3. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2001-4

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc. as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-4, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-4. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2001-4

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-4, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2001-4. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-1

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-1. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-1

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-1, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-1. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-2

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-2. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-2

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-2, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-2. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-3

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very yours truly,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-3. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-3

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-3, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-3. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-4

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-4, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very yours truly,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-4. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Deutsche Bank Trust Company Americas
60 Wall Street, 26^th Floor
MS NYC 60-2606
New York, NY 10005

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-4

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americas (formally know as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, ("the Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-4, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting managements assertaion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified requirements.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Deutsche Bank Trust Company Americans (formally known as Bankers Trust Company), and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-4. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-5

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-5, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

This report is intended solely for the information and use of management, the board of directors, Chase Manhattan Bank USA, National Association and Bankers Trust Company and is not intended to be and should not be used by anyone other than these specified parties.

Very yours truly,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-5. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-5

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-5, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the year ended December 31, 2003.

This report is intended solely for the information and use of management, the board of directors, Chase Manhattan Bank USA, National Association and Bank of New York and is not intended to be and should not be used by anyone other than these specified parties.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-5. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-6

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-6, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-6. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-6

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-6, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-6. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-7

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-7, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-7. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-7

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-7, for the period ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-7. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-8

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-8, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-8. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2002-8

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-8, for the year ended December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the year ended December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2002-8. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-1

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-1, for the period January 31, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period January 31, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-1. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-1

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-1, for the period January 31, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the period January 31, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-1. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-2

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-2, for the period March 4, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period March 4, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-2. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-2

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-2, for the period March 4, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the period March 4, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-2. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-3

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-3, for the period March 26, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period March 26, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-3. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-3

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-3, for the period March 26, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc. as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-3. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-4

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-4, for the period April 16, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period April 16, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-4. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-4

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-4, for the period April 16, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the period April 16, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-4. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-5

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-5, for the period May 20, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period May 20, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-5. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-5

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-5, for the period May 20, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the period May 20, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-5. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-6

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-6, for the period June 5, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period June 5, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-6. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-6

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-6, for the period June 5, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the period June 5, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-6. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-7

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-7, for the period July 22, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period July 22, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-7. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-7

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-7, for the period July 22, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the period July 22, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-7. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-8

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-8, for the period August 7, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period August 7, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-8. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-8

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-8, for the period August 7, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the period August 7, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-8. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-9

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-9, for the period August 28, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period August 28, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-9. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-9

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-9, for the period August 28, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

Very truly yours,

/s/ PRICWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-9. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-11

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-11, for the period October 30, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period October 30, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-11. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-11

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-11, for the period October 30, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the period October 30, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-11. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-12

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-12, for the period November 25, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period November 25, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-12. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-12

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-12, for the period November 25, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the period November 25, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-12. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

March 10, 2004

Student Loan Marketing Association
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago IL, 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-14

We have examined management's assertion included in the accompanying report titled Report of Management on Compliance by Administrator, that the Student Loan Marketing Association (the "Company) complied, in all material respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-14, for the period December 11, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, in all material respects, based on the aforementioned requirements for the period December 11, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Administrator

I acknowledge that as a member of management of the Student Loan Marketing Association (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation and SLM Funding LLC, as the successor-in-interest to SLM Funding Corporation, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-14. We are also responsible for establishing and maintaining effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ J. LANCE FRANKE
J. Lance Franke
Authorized Agent
Sallie Mae, Inc.

/s/ GREGORY A. SWARTZ
Gregory A. Swartz
Authorized Agent
Sallie Mae, Inc.

March 10, 2004

Sallie Mae, Inc.
11600 Sallie Mae Drive
Reston, VA 20193

and

Chase Manhattan Bank USA, National Association
Christiana Center/Ops 4
500 Stanton Christiana Road
Newark, DE 19713

and

Bank of New York
2 North LaSalle St., Suite 1020
Chicago, IL 60602

Report of Independent Accountants

Sallie Mae Student Loan Trust 2003-14

We have examined management's assertion, included in the accompanying report titled Report of Management on Compliance by Servicer, that Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation, (the "Company") complied, in all material respects, with the terms and conditions of Sections 2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-14, for the period December 11, 2003 to December 31, 2003. The Company's management is responsible for the assertion. Our responsibility is to express an opinion on the assertion based on our examination.

In our opinion, management's assertion referred to above is fairly stated, based on the aforementioned terms and conditions of the sections of the Agreement for the period December 11, 2003 to December 31, 2003.

Very truly yours,

/s/ PRICEWATERHOUSECOOPERS LLP

Report of Management on Compliance by Servicer

We acknowledge that as members of management of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae Servicing Corporation (the "Company"), we are responsible for ensuring compliance with the terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, Chase Manhattan Bank USA, National Association, Bank of New York, and the Student Loan Marketing Association, as Administrator, (the "Agreement") pursuant to the Sallie Mae Student Loan Trust 2003-14. We are also responsible for reviewing and ensuring implementation of, and ongoing compliance with, effective internal control over compliance with the terms and conditions of the Agreement.

March 10, 2004

/s/ JOHN F. REMONDI
John F. Remondi
Executive Vice President, Finance

QuickLinks

Exhibit 19.2

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