Exhibit 99.1

ANNEX A

THE TRUST STUDENT LOAN POOL

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

•

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

•

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

•

was more than 30 days past the final disbursement;

•

was not more than 210 days past due;

•

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

•

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

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

Unless otherwise specified, all information with respect to the trust student loans is presented as of May 31, 2026, which is the statistical disclosure date.

The following tables provide a description of specified characteristics of the trust student loans as of the statistical disclosure date. The aggregate outstanding principal balance of the loans in each of the following tables includes the principal balance due from borrowers, plus accrued interest of $1,039,291 to be capitalized as of the statistical disclosure date. Percentages and dollar amounts in any table may not total 100% or whole dollars due to rounding. The following tables also contain information concerning the total number of loans and total number of borrowers in the portfolio of trust student loans. For ease of administration, the servicer separates a consolidation loan on its system into two separate loan segments representing subsidized and unsubsidized segments of the same loan. The following tables reflect those loan segments within the number of loans. In addition, 3 borrowers have more than one trust student loan.

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

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2004-2

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

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

COMPOSITION OF THE TRUST STUDENT LOANS AS OF

THE STATISTICAL DISCLOSURE DATE

Aggregate Outstanding Principal Balance	$	253,544,777
Aggregate Outstanding Principal Balance – Treasury Bill	$	31,909,190
Percentage of Aggregate Outstanding Principal Balance – Treasury Bill		12.59	%
Aggregate Outstanding Principal Balance – One-Month LIBOR	$	221,635,587
Percentage of Aggregate Outstanding Principal Balance – One-Month LIBOR		87.41	%
Number of Borrowers		7,627
Average Outstanding Principal Balance Per Borrower	$	33,243
Number of Loans		13,739
Average Outstanding Principal Balance Per Loan – Treasury Bill	$	56,879
Average Outstanding Principal Balance Per Loan – One-Month LIBOR	$	16,819
Weighted Average Remaining Term to Scheduled Maturity	168 months
Weighted Average Annual Interest Rate		4.97	%

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

The weighted average annual borrower interest rate shown in the table is exclusive of special allowance payments. The weighted average spread for special allowance payments to the 91-day Treasury bill rate was 3.14% as of the statistical disclosure date.

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

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

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2004-2

DISTRIBUTION OF THE TRUST STUDENT LOANS

BY BORROWER INTEREST RATES AS OF THE STATISTICAL

DISCLOSURE DATE

Interest Rates	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Less than or equal to 3.00%		2,721	$	39,424,076		15.5	%
3.01% to 3.50%		2,587		35,512,350		14.0
3.51% to 4.00%		2,474		37,620,132		14.8
4.01% to 4.50%		2,779		43,314,078		17.1
4.51% to 5.00%		966		17,348,859		6.8
5.01% to 5.50%		261		5,912,971		2.3
5.51% to 6.00%		218		4,679,490		1.8
6.01% to 6.50%		269		5,773,287		2.3
6.51% to 7.00%		413		11,077,658		4.4
7.01% to 7.50%		174		4,905,547		1.9
7.51% to 8.00%		347		11,785,108		4.6
8.01% to 8.50%		275		15,446,360		6.1
Equal to or greater than 8.51%		255		20,744,860		8.2

Total		13,739	$	253,544,777		100.0	%

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

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2004-2

DISTRIBUTION OF THE TRUST STUDENT LOANS BY

OUTSTANDING PRINCIPAL BALANCE PER BORROWER

AS OF THE STATISTICAL DISCLOSURE DATE

Range of Outstanding Principal Balance	Number of Borrowers		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Less than $5,000.00		1,282	$	3,483,849		1.4	%
$5,000.00-$ 9,999.99		1,146		8,332,743		3.3
$10,000.00-$14,999.99		824		10,230,903		4.0
$15,000.00-$19,999.99		754		13,145,631		5.2
$20,000.00-$24,999.99		535		12,023,623		4.7
$25,000.00-$29,999.99		466		12,844,595		5.1
$30,000.00-$34,999.99		371		12,045,358		4.8
$35,000.00-$39,999.99		302		11,266,603		4.4
$40,000.00-$44,999.99		258		10,935,678		4.3
$45,000.00-$49,999.99		225		10,650,579		4.2
$50,000.00-$54,999.99		165		8,660,301		3.4
$55,000.00-$59,999.99		156		8,978,213		3.5
$60,000.00-$64,999.99		110		6,867,617		2.7
$65,000.00-$69,999.99		96		6,480,947		2.6
$70,000.00-$74,999.99		116		8,395,483		3.3
$75,000.00-$79,999.99		106		8,222,289		3.2
$80,000.00-$84,999.99		85		7,000,426		2.8
$85,000.00-$89,999.99		67		5,871,916		2.3
$90,000.00-$94,999.99		63		5,836,792		2.3
$95,000.00-$99,999.99		54		5,271,116		2.1
$100,000.00 and above		446		77,000,114		30.4

Total		7,627	$	253,544,777		100.0	%

DISTRIBUTION OF THE TRUST STUDENT LOANS

BY DELINQUENCY STATUS AS OF THE

STATISTICAL DISCLOSURE DATE

Number of Days Delinquent	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
0-30 days		12,973	$	234,977,955		92.7	%
31-60 days		258		5,717,572		2.3
61-90 days		134		2,413,882		1.0
91-120 days		73		1,983,928		0.8
121-150 days		55		1,307,684		0.5
151-180 days		45		1,062,786		0.4
181-210 days		42		1,389,032		0.5
Greater than 210 days		159		4,691,937		1.9

Total		13,739	$	253,544,777		100.0	%

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2004-2

DISTRIBUTION OF THE TRUST STUDENT LOANS

BY REMAINING TERM TO SCHEDULED MATURITY

AS OF THE STATISTICAL DISCLOSURE DATE

Number of Months Remaining to Scheduled Maturity	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
0 to 3		89	$	30,653		*
4 to12		269		258,380		0.1	%
13 to 24		608		1,394,968		0.6
25 to 36		1,563		4,631,401		1.8
37 to 48		863		4,361,178		1.7
49 to 60		614		5,478,321		2.2
61 to 72		599		5,394,676		2.1
73 to 84		696		6,893,324		2.7
85 to 96		1,948		21,886,261		8.6
97 to 108		863		13,239,454		5.2
109 to 120		718		12,663,367		5.0
121 to 132		903		21,794,504		8.6
133 to 144		727		19,724,190		7.8
145 to 156		580		17,343,929		6.8
157 to 168		523		17,008,201		6.7
169 to 180		425		13,385,619		5.3
181 to 192		332		11,435,760		4.5
193 to 204		242		7,927,555		3.1
205 to 216		158		6,111,990		2.4
217 to 228		129		5,297,373		2.1
229 to 240		93		4,030,896		1.6
241 to 252		76		3,054,413		1.2
253 to 264		81		2,961,947		1.2
265 to 276		60		3,168,031		1.2
277 to 288		50		2,917,303		1.2
289 to 300		103		8,275,674		3.3
301 to 312		361		26,738,188		10.5
313 to 324		12		1,304,387		0.5
325 to 336		9		980,859		0.4
337 to 348		10		1,132,448		0.4
349 to 360		16		1,384,948		0.5
361 and above		19		1,334,580		0.5

Total		13,739	$	253,544,777		100.0	%

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

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

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2004-2

DISTRIBUTION OF THE TRUST STUDENT LOANS

BY CURRENT BORROWER PAYMENT STATUS

AS OF THE STATISTICAL DISCLOSURE DATE

Current Borrower Payment Status	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Deferment		247	$	5,822,075		2.3	%
Forbearance		729		20,210,373		8.0
Repayment
First year in repayment		55		3,680,182		1.5
Second year in repayment		50		3,376,843		1.3
Third year in repayment		63		4,529,328		1.8
More than 3 years in repayment		12,595		215,925,977		85.2

Total		13,739	$	253,544,777		100.0	%

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

•

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

•

may be currently required to repay the loan – repayment.

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

The weighted average number of months in repayment for all trust student loans currently in repayment is approximately 175.9 calculated as the term to maturity at the commencement of repayment less the number of months remaining to scheduled maturity as of the statistical disclosure date.

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2004-2

SCHEDULED WEIGHTED AVERAGE REMAINING MONTHS IN

STATUS OF THE TRUST STUDENT LOANS BY

CURRENT BORROWER PAYMENT STATUS AS OF THE

STATISTICAL DISCLOSURE DATE

	Scheduled Months in Status Remaining
Current Borrower Payment Status	Deferment		Forbearance		Repayment
Deferment		19.3		-		201.7
Forbearance		-		15.3		203.5
Repayment		-		-		162.3

We have determined the scheduled weighted average remaining months in status shown in the previous table without giving effect to any deferment or forbearance periods that may be granted in the future. Of the $5,822,075 aggregate outstanding principal balance of the trust student loans in deferment as of the statistical disclosure date, $3,904,605 or approximately 67.1% of such loans are to borrowers who had not graduated as of that date. We expect that a significant portion of these loans could qualify for additional deferments or forbearances at the end of their current deferment periods as the related borrowers continue their education beyond their current degree programs. As a result, the overall duration of any applicable deferment and forbearance periods as well as the likelihood of future deferment and forbearance periods within this pool of trust student loans is likely to be higher than in other pools of student loans without similar numbers of in-school consolidation loans. See Appendix A to the preliminary remarketing memorandum.

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2004-2

GEOGRAPHIC DISTRIBUTION OF THE TRUST STUDENT LOANS

AS OF THE STATISTICAL DISCLOSURE DATE

State	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Alabama		91	$	1,782,927		0.7	%
Alaska		21		365,725		0.1
Arizona		380		8,832,954		3.5
Arkansas		59		1,139,874		0.4
California		1,632		27,918,086		11.0
Colorado		246		4,726,078		1.9
Connecticut		152		1,878,600		0.7
Delaware		26		253,913		0.1
District of Columbia		48		801,079		0.3
Florida		1,920		34,921,259		13.8
Georgia		398		7,384,261		2.9
Hawaii		56		550,753		0.2
Idaho		59		971,859		0.4
Illinois		362		6,249,815		2.5
Indiana		235		4,564,923		1.8
Iowa		71		992,963		0.4
Kansas		234		4,526,810		1.8
Kentucky		62		1,153,903		0.5
Louisiana		272		4,955,003		2.0
Maine		26		328,504		0.1
Maryland		293		5,595,942		2.2
Massachusetts		263		4,079,212		1.6
Michigan		267		5,943,378		2.3
Minnesota		193		3,482,470		1.4
Mississippi		58		1,265,332		0.5
Missouri		359		6,476,386		2.6
Montana		35		701,805		0.3
Nebraska		28		396,852		0.2
Nevada		105		2,245,427		0.9
New Hampshire		55		1,102,044		0.4
New Jersey		378		5,954,054		2.3
New Mexico		48		1,296,796		0.5
New York		823		13,192,630		5.2
North Carolina		340		5,487,869		2.2
North Dakota		15		220,206		0.1
Ohio		961		23,922,328		9.4
Oklahoma		191		3,268,469		1.3
Oregon		227		4,174,529		1.6
Pennsylvania		290		4,717,375		1.9
Rhode Island		43		754,356		0.3
South Carolina		99		2,457,866		1.0
South Dakota		12		160,932		0.1
Tennessee		210		3,629,334		1.4
Texas		1,023		18,730,768		7.4
Utah		49		1,495,308		0.6
Vermont		19		336,435		0.1
Virginia		307		5,666,960		2.2
Washington		460		7,404,369		2.9
West Virginia		36		890,355		0.4
Wisconsin		74		1,191,494		0.5
Wyoming		11		430,938		0.2
Other		117		2,573,270		1.0

Total		13,739	$	253,544,777		100.0	%

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2004-2

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

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

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

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

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2004-2

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

DISTRIBUTION OF THE TRUST STUDENT LOANS BY REPAYMENT

TERMS AS OF THE STATISTICAL DISCLOSURE DATE

Loan Repayment Terms	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Level Repayment		6,516	$	92,010,505		36.3	%
Other Repayment Options⁽¹⁾		5,226		90,944,884		35.9
Income-driven Repayment⁽²⁾		1,997		70,589,387		27.8

Total		13,739	$	253,544,777		100.0	%

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

(2)	Includes income sensitive and income based repayment.

With respect to interest-only loans, as of the statistical disclosure date, there are 66 loans with an aggregate outstanding principal balance of $2,238,421 currently in an interest-only period. These interest-only loans represent approximately 0.9% of the aggregate outstanding principal balance of the trust student loans. Interest-only periods range up to 48 months in overall length.

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

DISTRIBUTION OF THE TRUST STUDENT LOANS BY LOAN

TYPE AS OF THE STATISTICAL DISCLOSURE DATE

Loan Type	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
Subsidized		6,845	$	100,780,262		39.7	%
Unsubsidized		6,894		152,764,514		60.3

Total		13,739	$	253,544,777		100.0	%

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2004-2

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

DISTRIBUTION OF THE TRUST STUDENT LOANS

BY DATE OF DISBURSEMENT AS OF

THE STATISTICAL DISCLOSURE DATE

Disbursement Date	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
September 30, 1993 and earlier		135	$	10,825,505		4.3	%
October 1, 1993 through June 30, 2006		13,604		242,719,272		95.7
July 1, 2006 and later		0		0		0.0

Total		13,739	$	253,544,777		100.0	%

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2004-2

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

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

DISTRIBUTION OF THE TRUST STUDENT LOANS

BY GUARANTY AGENCY AS OF

THE STATISTICAL DISCLOSURE DATE

Name of Guaranty Agency	Number of Loans		Aggregate Outstanding Principal Balance		Percent of Pool by Outstanding Principal Balance
American Student Assistance		341	$	4,534,711		1.8	%
College Assist		5		62,595		*
Educational Credit Management Corporation		2,523		42,254,662		16.7
Great Lakes Higher Education Corporation		6,469		138,682,190		54.7
Kentucky Higher Educ. Asst. Auth.		752		10,510,638		4.1
Michigan Guaranty Agency		139		2,298,689		0.9
Nebraska National Student Loan Program		1		21,575		*
Oklahoma Guaranteed Stud Loan Prog		100		1,641,271		0.6
Pennsylvania Higher Education Assistance Agency		976		16,526,077		6.5
Texas Guaranteed Student Loan Corp		2,433		37,012,368		14.6

Total		13,739	$	253,544,777		100.0	%

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

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2004-2