SLM Student Loan Trust 2002-6 Quarterly Servicing Report
Collection Period 06/01/2005 - 08/31/2005 Distribution Date 09/15/2005
Indenture Trustee: Bank of New York
I. Deal Parameters
| A | Student Loan Portfolio Characteristics | 11/05/2002 | 05/31/2005 | 08/31/2005 | ||||||||||||
| Principal Balance | $ | 1,961,617,208.92 | $ | 929,205,505.56 | $ | 743,831,372.71 | ||||||||||
| Interest to be Capitalized Balance | 42,089,660.23 | 25,467,094.28 | 19,236,145.07 | |||||||||||||
| Pool Balance | $ | 2,003,706,869.15 | $ | 954,672,599.84 | $ | 763,067,517.78 | ||||||||||
| Specified Reserve Account Balance | 5,009,267.00 | 2,386,681.50 | - N/A - | |||||||||||||
| Adjusted Pool(1) | $ | 2,008,716,136.15 | $ | 957,059,281.34 | $ | 763,067,517.78 | ||||||||||
| Weighted Average Coupon (WAC) | 3.65 | % | 3.12 | % | 5.07 | % | ||||||||||
| Weighted Average Remaining Term | 136.82 | 118.82 | 116.92 | |||||||||||||
| Number of Loans | 477,683 | 266,638 | 224,135 | |||||||||||||
| Number of Borrowers | 258,393 | 152,711 | 129,558 | |||||||||||||
| Since Issued CPR | 21.09 | % | 26.17 | % | ||||||||||||
| (1) | The Specified Reserve Account balance is included in the Adjusted Pool until the Pool Balance is less than 40% of the original pool. | |||||||||||||||
| B | Debt Securities | Cusip/Isin | 06/15/2005 | 09/15/2005 | ||||||||||||
| A1 | 78442GEF9 | $ | — | $ | — | |||||||||||
| A2 | 78442GEG7 | $ | — | $ | — | |||||||||||
| A3 | 78442GEH5 | $ | 101,359,281.34 | $ | — | |||||||||||
| A4L | 78442GEJ1 | $ | 595,000,000.00 | $ | 525,671,286.89 | |||||||||||
| A4CP | 78442GEK8 | $ | 200,000,000.00 | $ | 176,696,230.89 | |||||||||||
| B | 78442GEL6 | $ | 60,700,000.00 | $ | 60,700,000.00 | |||||||||||
| C | Account Balances | 06/15/2005 | 09/15/2005 | |||||||||||||
| Reserve Account Balance | $ | 2,386,681.50 | $ | 2,003,707.00 | ||||||||||||
| D | Asset/Liability | 06/15/2005 | 09/15/2005 | |||||||||||||
| Adjusted Pool Balance | $ | 957,059,281.34 | $ | 763,067,517.78 | ||||||||||||
| Total Notes | $ | 957,059,281.34 | $ | 763,067,517.78 | ||||||||||||
| Difference | $ | — | $ | — | ||||||||||||
| Parity Ratio | 1.00000 | 1.00000 | ||||||||||||||
Page 1 of 8
II. Trust Activity 06/01/2005 through 08/31/2005
| A | Student Loan Principal Receipts | |||||
| Borrower Principal | 8,746,039.95 | |||||
| Guarantor Principal | 7,693,310.82 | |||||
| Consolidation Activity Principal | 174,286,814.33 | |||||
| Seller Principal Reimbursement | — | |||||
| Servicer Principal Reimbursement | 7.66 | |||||
| Rejected Claim Repurchased Principal | 15,746.28 | |||||
| Other Principal Deposits | 628,388.05 | |||||
Total Principal Receipts | $ | 191,370,307.09 | ||||
| B | Student Loan Interest Receipts | |||||
| Borrower Interest | 1,970,970.83 | |||||
| Guarantor Interest | 141,691.94 | |||||
| Consolidation Activity Interest | 4,469,411.61 | |||||
| Special Allowance Payments | 4,934,281.62 | |||||
| Interest Subsidy Payments | 1,582,799.44 | |||||
| Seller Interest Reimbursement | (1.04 | ) | ||||
| Servicer Interest Reimbursement | 40,853.00 | |||||
| Rejected Claim Repurchased Interest | 755.03 | |||||
| Other Interest Deposits | 372,518.43 | |||||
Total Interest Receipts | $ | 13,513,280.86 | ||||
| C | Investment Income | $ | 999,680.18 | |||
| D | Funds Borrowed from Next Collection Period | $ | — | |||
| E | Funds Repaid from Prior Collection Period | $ | — | |||
| F | Loan Sale or Purchase Proceeds | $ | — | |||
| G | Initial Deposits to Collection Account | $ | — | |||
| H | Other Deposits | $ | 34,469.86 | |||
| I | Less: Funds Previously Remitted: | |||||
| Servicing Fees | $ | (1,345,329.86 | ) | |||
| Consolidation Loan Rebate Fees | $ | — | ||||
Total Funds Previously Remitted | $ | (1,345,329.86 | ) | |||
| J | AVAILABLE FUNDS | $ | 204,572,408.13 | |||
| K | Non-Cash Principal Activity During Collection Period | $ | (5,996,174.24 | ) | ||
| L | Non-Reimbursable Losses During Collection Period | $ | 35.35 | |||
| M | Aggregate Purchased Amounts by the Depositor, Servicer or Seller | $ | 24,636.49 | |||
| N | Aggregate Loan Substitutions | $ | — | |||
Trust 2002-6 Quarterly Servicing Report: Collection Period 06/01/2005 - 08/31/2005, Distribution Date 09/15/2005
Page 2 of 8
III. 2002-6 Portfolio Characteristics
| 08/31/2005 | 05/31/2005 | |||||||||||||||||||||||||||||||||
| WAC | # Loans | Principal | %of Principal | WAC | # Loans | Principal | %of Principal | |||||||||||||||||||||||||||
| INTERIM: | IN SCHOOL | 4.70 | % | 33,388 | $ | 106,193,665.49 | 14.277 | % | 2.77 | % | 52,577 | $ | 189,608,244.05 | 20.405 | % | |||||||||||||||||||
| GRACE | 4.70 | % | 25,893 | $ | 126,839,245.74 | 17.052 | % | 2.77 | % | 32,557 | $ | 145,057,814.46 | 15.611 | % | ||||||||||||||||||||
| DEFERMENT | 4.73 | % | 33,916 | $ | 119,885,641.03 | 16.117 | % | 2.81 | % | 35,013 | $ | 139,049,268.26 | 14.964 | % | ||||||||||||||||||||
| REPAYMENT: | CURRENT | 5.44 | % | 73,691 | $ | 201,377,551.38 | 27.073 | % | 3.53 | % | 82,906 | $ | 238,567,628.45 | 25.674 | % | |||||||||||||||||||
| 31-60 DAYS DELINQUENT | 5.39 | % | 8,716 | $ | 28,436,720.30 | 3.823 | % | 3.48 | % | 8,540 | $ | 26,529,256.86 | 2.855 | % | ||||||||||||||||||||
| 61-90 DAYS DELINQUENT | 5.41 | % | 5,684 | $ | 17,482,925.95 | 2.350 | % | 3.49 | % | 5,560 | $ | 16,978,399.31 | 1.827 | % | ||||||||||||||||||||
| 91-120 DAYS DELINQUENT | 5.40 | % | 3,923 | $ | 12,269,167.22 | 1.649 | % | 3.50 | % | 3,622 | $ | 10,978,979.58 | 1.182 | % | ||||||||||||||||||||
| > 120 DAYS DELINQUENT | 5.38 | % | 13,816 | $ | 41,385,479.16 | 5.564 | % | 3.46 | % | 13,824 | $ | 42,192,183.85 | 4.541 | % | ||||||||||||||||||||
| FORBEARANCE | 5.36 | % | 23,203 | $ | 84,576,809.50 | 11.370 | % | 3.44 | % | 30,358 | $ | 115,298,179.15 | 12.408 | % | ||||||||||||||||||||
| CLAIMS IN PROCESS | 5.41 | % | 1,883 | $ | 5,332,888.49 | 0.717 | % | 3.52 | % | 1,665 | $ | 4,894,087.21 | 0.527 | % | ||||||||||||||||||||
| AGED CLAIMS REJECTED | 5.30 | % | 22 | $ | 51,278.45 | 0.007 | % | 3.50 | % | 16 | $ | 51,464.38 | 0.006 | % | ||||||||||||||||||||
TOTAL | 224,135 | $ | 743,831,372.71 | 100.00 | % | 266,638 | $ | 929,205,505.56 | 100.00 | % | ||||||||||||||||||||||||
* Percentages may not total 100% due to rounding
Trust 2002-6 Quarterly Sen/icing Report: Collection Period 06/01/2005-08/31/2005, Distribution Date 09/15/2005
Page 3 of 8
IV. 2002-6 Portfolio Characteristics (cont’d)
| 08/31/2005 | 05/31/2005 | |||||||
| Pool Balance | $ | 763,067,517.78 | $ | 954,672,599.84 | ||||
| Total # Loans | 224,135 | 266,638 | ||||||
| Total # Borrowers | 129,558 | 152,711 | ||||||
| Weighted Average Coupon | 5.07 | % | 3.12 | % | ||||
| Weighted Average Remaining Term | 116.92 | 118.82 | ||||||
| Non-Reimbursable Losses | $ | 35.35 | $ | 776.18 | ||||
| Cumulative Non-Reimbursable Losses | $ | 533,987.25 | $ | 533,951.90 | ||||
| Since Issued CPR | 26.17 | % | 21.09 | % | ||||
| Loan Substitutions | $ | — | $ | — | ||||
| Cumulative Loan Substitutions | $ | — | $ | — | ||||
| Rejected Claim Repurchases | $ | 16,501.31 | $ | 19,395.32 | ||||
| Cumulative Rejected Claim Repurchases | $ | 97,372.87 | $ | 80,871.56 | ||||
| Cumulative Claims Filed | $ | 79,401,308.14 | $ | 69,574,112.67 | ||||
| Unpaid Primary Servicing Fees | $ | — | $ | — | ||||
| Unpaid Administration Fees | $ | — | $ | — | ||||
| Unpaid Carryover Servicing Fees | $ | — | $ | — | ||||
| Note Principal Shortfall | $ | — | $ | — | ||||
| Note Interest Shortfall | $ | — | $ | — | ||||
| Unpaid Interest Carryover | $ | — | $ | — | ||||
| Borrower Interest Accrued | $ | 7,125,097.79 | $ | 5,961,376.07 | ||||
| Interest Subsidy Payments Accrued | $ | 1,924,946.74 | $ | 1,647,907.74 | ||||
| Special Allowance Payments Accrued | $ | 2,564,404.45 | $ | 4,854,403.49 | ||||
Trust 2002-6 Quarterly Servicing Report: Collection Period 06/01/2005 - 08/31/2005, Distribution Date 09/15/2005
Page 4 of 8
V. 2002-6 Portfolio Statistics by School and Program
| A | LOAN TYPE | WAC | # LOANS | $AMOUNT | % * | |||||||||||||
| - GSL - Subsidized | 5.07 | % | 128,715 | $ | 364,651,141.56 | 49.023 | % | |||||||||||
| - GSL - Unsubsidized | 4.99 | % | 89,194 | 352,268,255.66 | 47.359 | % | ||||||||||||
| - PLUS Loans | 6.18 | % | 6,223 | 26,902,050.36 | 3.617 | % | ||||||||||||
| - SLS Loans | 6.50 | % | 3 | 9,925.13 | 0.001 | % | ||||||||||||
| - Consolidation Loans | 0.00 | % | 0 | 0.00 | 0.000 | % | ||||||||||||
| Total | 5.07 | % | 224,135 | $ | 743,831,372.71 | 100.000 | % | |||||||||||
| B | SCHOOL TYPE | WAC | # LOANS | $AMOUNT | % * | |||||||||||||
| - Four Year | 5.04 | % | 178,068 | $ | 637,748,460.69 | 85.738 | % | |||||||||||
| - Two Year | 5.19 | % | 37,073 | 85,102,207.01 | 11.441 | % | ||||||||||||
| - Technical | 5.44 | % | 8,994 | 20,980,705.01 | 2.821 | % | ||||||||||||
| - Other | 0.00 | % | 0 | 0.00 | 0.000 | % | ||||||||||||
| Total | 5.07 | % | 224,135 | $ | 743,831,372.71 | 100.000 | % | |||||||||||
* Percentages may not total 100% due to rounding.
Trust 2002-6 Quarterly Servicing Report: Collection Period 06/01/2005 - 08/31/2005, Distribution Date 09/15/2005
Page 5 of 8
VI. 2002-6 Waterfall for Distributions
| Remaining | ||||||||||
| Paid | Funds Balance | |||||||||
| Total Available Funds | $ | 204,572,408.13 | ||||||||
| A | Primary Servicing Fee | $ | 584,449.55 | $ | 203,987,958.58 | |||||
| B | Administration Fee | $ | 20,000.00 | $ | 203,967,958.58 | |||||
| C | Class A Noteholders’ Interest Distribution Amount | $ | 8,227,718.87 | $ | 195,740,239.71 | |||||
| D | Class B Noteholders’ Interest Distribution Amount | $ | 600,323.00 | $ | 195,139,916.71 | |||||
| E | Class A Noteholders’ Principal Distribution Amount | $ | 193,991,763.56 | $ | 1,148,153.15 | |||||
| F | Class B Noteholders’ Principal Distribution Amount | $ | — | $ | 1,148,153.15 | |||||
| G | Reserve Account Reinstatement | $ | — | $ | 1,148,153.15 | |||||
| H | Carryover Servicing Fee | $ | — | $ | 1,148,153.15 | |||||
| I | Excess Distribution | $ | 1,148,153.15 | $ | — | |||||
Trust 2002-6 Quarterly Servicing Report: Collection Period 06/01/2005 - 08/31/2005, Distribution Date 09/15/2005
Page 6 of 8
VII. 2002-6 Distributions
| Distribution Amounts | A3 | A4L | A4CP | |||||||||||
| Cusip/Isin | 78442GEH5 | 78442GEJ1 | 78442GEK8 | |||||||||||
| Beginning Balance | $ | 101,359,281.34 | $ | 595,000,000.00 | $ | 200,000,000.00 | ||||||||
| Index | LIBOR | LIBOR | CPf | |||||||||||
| Spread/Fixed Rate | 0.09 | % | 0.18 | % | 0.30 | % | ||||||||
| Record Date | 1 NEW YORK BUSINESS DAY | 1 NEW YORK BUSINESS DAY | 1 NEW YORK BUSINESS DAY | |||||||||||
| Accrual Period Begin | 06/15/2005 | 06/15/2005 | 06/15/2005 | |||||||||||
| Accrual Period End | 09/15/2005 | 09/15/2005 | 09/15/2005 | |||||||||||
| Daycount Fraction | 0.25555556 | 0.25555556 | 0.25205479 | |||||||||||
| Interest Rate | 3.50000 | % | 3.59000 | % | 3.69428 | % | ||||||||
| Accrued Interest Factor | 0.008944444 | 0.009174444 | 0.009311610 | |||||||||||
| Current Interest Due | $ | 906,602.46 | $ | 5,458,794.44 | $ | 1,862,321.97 | ||||||||
| Interest Shortfall from Prior Period Plus Accrued Interest | $ | — | $ | — | $ | — | ||||||||
| Total Interest Due | $ | 906,602.46 | $ | 5,458,794.44 | $ | 1,862,321.97 | ||||||||
| Interest Paid | $ | 906,602.46 | $ | 5,458,794.44 | $ | 1,862,321.97 | ||||||||
| Interest Shortfall | $ | — | $ | — | $ | — | ||||||||
| Carryover Interest Shortfall from Prior Period Plus Accrued Interest | $ | — | $ | — | $ | — | ||||||||
| Current Interest Carryover Due | $ | — | $ | — | $ | — | ||||||||
| Interest Carryover Paid | $ | — | $ | — | $ | — | ||||||||
| Unpaid Interest Carryover | $ | — | $ | — | $ | — | ||||||||
| Principal Paid | $ | 101,359,281.34 | $ | 69,328,713.11 | $ | 23,303,769.11 | ||||||||
| Ending Principal Balance | $ | — | $ | 525,671,286.89 | $ | 176,696,230.89 | ||||||||
| Paydown Factor | 0.287748137 | 0.116518846 | 0.116518846 | |||||||||||
| Ending Balance Factor | 0.000000000 | 0.883481154 | 0.883481154 | |||||||||||
Trust 2002-6 Quarterly Servicing Report: Collection Period 06/01/2005 - 08/31/2005. Distribution Date 09/15/2005
Page 7 of 8
VII. 2002-6 Distributions
| Distribution Amounts | B | |||||||||||||
| Cusip/Isin | 78442GEL6 | |||||||||||||
| Beginning Balance | $ | 60,700,000.00 | ||||||||||||
| Index | LIBOR | |||||||||||||
| Spread/Fixed Rate | 0.46 | % | ||||||||||||
| Record Date | 1 NEW YORK BUSINESS DAY | |||||||||||||
| Accrual Period Begin | 06/15/2005 | |||||||||||||
| Accrual Period End | 09/15/2005 | |||||||||||||
| Daycount Fraction | 0.25555556 | |||||||||||||
| Interest Rate | 3.87000 | % | ||||||||||||
| Accrued Interest Factor | 0.009890000 | |||||||||||||
| Current Interest Due | $ | 600,323.00 | ||||||||||||
| Interest Shortfall from Prior Period Plus Accrued Interest | $ | — | ||||||||||||
| Total Interest Due | $ | 600,323.00 | ||||||||||||
| Interest Paid | $ | 600,323.00 | ||||||||||||
| Interest Shortfall | $ | — | ||||||||||||
| Carryover Interest Shortfall from Prior Period Plus Accrued Interest | $ | — | ||||||||||||
| Current Interest Carryover Due | $ | — | ||||||||||||
| Interest Carryover Paid | $ | — | ||||||||||||
| Unpaid Interest Carryover | $ | — | ||||||||||||
| Principal Paid | $ | — | ||||||||||||
| Ending Principal Balance | $ | 60,700,000.00 | ||||||||||||
| Paydown Factor | 0.000000000 | |||||||||||||
| Ending Balance Factor | 1.000000000 | |||||||||||||
VIII. 2002-6 Reconciliations
| A | Principal Distribution Reconciliation | |||||
| Prior Adjusted Pool Balance | $ | 957,059,281.34 | ||||
| Current Adjusted Pool Balance | $ | 763,067,517.78 | ||||
| Current Principal Due | $ | 193,991,763.56 | ||||
| Principal Shortfall from Previous Collection Period | $ | — | ||||
| Principal Distribution Amount | $ | 193,991,763.56 | ||||
| Principal Paid | $ | 193,991,763.56 | ||||
| Principal Shortfall | $ | — | ||||
| B | Reserve Account Reconciliation | |||||
| Beginning Period Balance | $ | 2,386,681.50 | ||||
| Reserve Funds Utilized | 0.00 | |||||
| Reserve Funds Reinstated | 0.00 | |||||
| Excess Distribution Deposit | 1,148,153.15 | |||||
| Balance Available | $ | 3,534,834.65 | ||||
| Required Reserve Acct Balance | $ | 2,003,707.00 | ||||
| Release to Excess Distribution Certificateholder | $ | 1,531,127.65 | ||||
| Ending Reserve Account Balance | $ | 2,003,707.00 | ||||
Page 8 of 8 | Trust 2002-6 Quarterly Servicing Report: Collection Period 06/01/2005-08/31/2005, Distribution Date 09/15/2005 |
