SLM Student Loan Trust 2002-4 Quarterly Servicing Report
Collection Period 09/01/2005-11/30/2005 Distribution Date 12/15/2005
Indenture Trustee: Deutsche Bank
I. Deal Parameters
| A | Student Loan Portfolio Characteristics | 07/09/2002 | 08/31/2005 | 11/30/2005 | ||||||||||||
| Principal Balance | $ | 1,477,360,738.22 | $ | 517,485,945.19 | $ | 463,952,453.81 | ||||||||||
| Interest to be Capitalized Balance | 25,781,401.79 | 6,558,448.63 | 5,266,770.76 | |||||||||||||
| Pool Balance | $ | 1,503,142,140.01 | $ | 524,044,393.82 | $ | 469,219,224.57 | ||||||||||
| Specified Reserve Account Balance | 3,757,855.00 | - N/A - | - N/A - | |||||||||||||
| Adjusted Pool (1) | $ | 1,506,899,995.01 | $ | 524,044,393.82 | $ | 469,219,224.57 | ||||||||||
| Weighted Average Coupon (WAC) | 5.76 | % | 5.26 | % | 5.29 | % | ||||||||||
| Weighted Average Remaining Term | 123.85 | 104.04 | 102.57 | |||||||||||||
| Number of Loans | 412,296 | 185,316 | 169,290 | |||||||||||||
| Number of Borrowers | 223,656 | 105,271 | 95,870 | |||||||||||||
| Since Issued CPR | 22.65 | % | 23.03 | % | ||||||||||||
| (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 | 09/15/2005 | 12/15/2005 | ||||||||||||
| A1 | 78442GDU7 | $ | — | $ | — | |||||||||||
| A2 | 78442GDV5 | $ | — | $ | — | |||||||||||
| A3 | 78442GDW3 | $ | 5,591,393.82 | $ | — | |||||||||||
| A4 | 78442GDX1 | $ | 472,480,000.00 | $ | 423,246,224.57 | |||||||||||
| B | 78442GDY9 | $ | 45,973,000.00 | $ | 45,973,000.00 | |||||||||||
| C | Debt Securities | 09/15/2005 | 12/15/2005 | |||||||||||||
| Reserve Account Balance | $ | 1,503,142.00 | $ | 1,503,142.00 | ||||||||||||
| D | Asset / Liability | 09/15/2005 | 12/15/2005 | |||||||||||||
| Adjusted Pool Balance | $ | 524,044,393.82 | $ | 469,219,224.57 | ||||||||||||
| Total Notes | $ | 524,044,393.82 | $ | 469,219,224.57 | ||||||||||||
| Difference | $ | — | $ | — | ||||||||||||
| Parity Ratio | 1.00000 | 1.00000 | ||||||||||||||
Page 1 of 8
II. Trust Activity 09/01/2005 through 11/30/2005
| A | Student Loan Principal Receipts | |||||||
| Borrower Principal | 9,218,551.67 | |||||||
| Guarantor Principal | 6,449,744.60 | |||||||
| Consolidation Activity Principal | 41,316,378.50 | |||||||
| Seller Principal Reimbursement | 18.54 | |||||||
| Servicer Principal Reimbursement | 343.43 | |||||||
| Rejected Claim Repurchased Principal | 23,440.12 | |||||||
| Other Principal Deposits | 5,562.40 | |||||||
| Total Principal Receipts | $ | 57,014,039.26 | ||||||
| B | Student Loan Interest Receipts | |||||||
| Borrower Interest | 2,235,961.68 | |||||||
| Guarantor Interest | 173,091.52 | |||||||
| Consolidation Activity Interest | 1,006,345.34 | |||||||
| Special Allowance Payments | 909,666.89 | |||||||
| Interest Subsidy Payments | 981,761.22 | |||||||
| Seller Interest Reimbursement | 0.00 | |||||||
| Servicer Interest Reimbursement | 14,423.38 | |||||||
| Rejected Claim Repurchased Interest | 1,380.61 | |||||||
| Other Interest Deposits | 250,769.98 | |||||||
| Total Interest Receipts | $ | 5,573,400.62 | ||||||
| C | Investment Income | $ | 431,505.75 | |||||
| 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 | $ | 27,803.46 | |||||
| I | Less: Funds Previously Remitted: | |||||||
| Servicing Fees | $ | (763,300.56 | ) | |||||
| Consolidation Loan Rebate Fees | $ | — | ||||||
| Total Funds Previously Remitted | $ | (763,300.56 | ) | |||||
| J | AVAILABLE FUNDS | $ | 62,283,448.53 | |||||
| K | Non-Cash Principal Activity During Collection Period | $ | (3,480,547.88 | ) | ||||
| L | Non-Reimbursable Losses During Collection Period | $ | — | |||||
| M | Aggregate Purchased Amounts by the Depositor, Servicer or Seller | $ | 24,820.73 | |||||
| N | Aggregate Loan Substitutions | $ | — | |||||
Trust 2002-4 Quarterly Servicing Report: Collection Period 09/01/2005 — 11/30/2005, Distribution Date 12/15/2005
Page 2 of 8
III. 2002-4 Portfolio Characteristics
| 11/30/2005 | 08/31/2005 | |||||||||||||||||||||||||||||||||
| WAC | # Loans | Principal | % of Principal | WAC | # Loans | Principal | % of Principal | |||||||||||||||||||||||||||
| INTERIM: | IN SCHOOL | 4.71 | % | 9,844 | $ | 31,037,926.66 | 6.690 | % | 4.71 | % | 11,152 | $ | 35,812,689.35 | 6.921 | % | |||||||||||||||||||
| GRACE | 4.71 | % | 2,180 | $ | 7,191,914.07 | 1.550 | % | 4.70 | % | 9,363 | $ | 29,718,863.77 | 5.743 | % | ||||||||||||||||||||
| DEFERMENT | 4.76 | % | 25,140 | $ | 68,386,101.27 | 14.740 | % | 4.76 | % | 27,379 | $ | 75,978,569.72 | 14.682 | % | ||||||||||||||||||||
| REPAYMENT: | CURRENT | 5.50 | % | 72,077 | $ | 183,819,310.39 | 39.620 | % | 5.51 | % | 79,693 | $ | 204,702,182.69 | 39.557 | % | |||||||||||||||||||
| 31-60 DAYS DELINQUENT | 5.44 | % | 8,416 | $ | 23,560,051.51 | 5.078 | % | 5.43 | % | 8,636 | $ | 25,041,996.77 | 4.839 | % | ||||||||||||||||||||
| 61-90 DAYS DELINQUENT | 5.45 | % | 5,243 | $ | 14,565,718.35 | 3.139 | % | 5.42 | % | 6,096 | $ | 17,202,038.06 | 3.324 | % | ||||||||||||||||||||
| 91-120 DAYS DELINQUENT | 5.44 | % | 3,841 | $ | 11,182,268.66 | 2.410 | % | 5.45 | % | 4,522 | $ | 12,849,804.32 | 2.483 | % | ||||||||||||||||||||
| > 120 DAYS DELINQUENT | 5.40 | % | 12,055 | $ | 33,577,276.63 | 7.237 | % | 5.41 | % | 14,692 | $ | 40,409,989.51 | 7.809 | % | ||||||||||||||||||||
| FORBEARANCE | 5.44 | % | 28,391 | $ | 84,697,734.29 | 18.256 | % | 5.42 | % | 22,077 | $ | 71,366,973.58 | 13.791 | % | ||||||||||||||||||||
| CLAIMS IN PROCESS | 5.40 | % | 2,096 | $ | 5,923,975.64 | 1.277 | % | 5.40 | % | 1,692 | $ | 4,375,388.18 | 0.846 | % | ||||||||||||||||||||
| AGED CLAIMS REJECTED | 5.30 | % | 7 | $ | 10,176.34 | 0.002 | % | 5.30 | % | 14 | $ | 27,449.24 | 0.005 | % | ||||||||||||||||||||
TOTAL | 169,290 | $ | 463,952,453.81 | 100.00 | % | 185,316 | $ | 517,485,945.19 | 100.00 | % | ||||||||||||||||||||||||
| * | Percentages may not total 100% due to rounding |
Trust 2002-4 Quarterly Servicing Report: Collection Period 09/01/2005 — 11/30/2005, Distribution Date 12/15/2005
Page 3 of 8
IV. 2002-4 Portfolio Characteristics (cont’d)
| 11/30/2005 | 08/31/2005 | |||||||
| Pool Balance | $ | 469,219,224.57 | $ | 524,044,393.82 | ||||
| Total # Loans | 169,290 | 185,316 | ||||||
| Total # Borrowers | 95,870 | 105,271 | ||||||
| Weighted Average Coupon | 5.29 | % | 5.26 | % | ||||
| Weighted Average Remaining Term | 102.57 | 104.04 | ||||||
| Non-Reimbursable Losses | $ | — | $ | (2.99 | ) | |||
| Cumulative Non-Reimbursable Losses | $ | 1,081,945.64 | $ | 1,081,945.64 | ||||
| Since Issued CPR | 23.03 | % | 22.65 | % | ||||
| Loan Substitutions | $ | — | $ | — | ||||
| Cumulative Loan Substitutions | $ | — | $ | — | ||||
| Rejected Claim Repurchases | $ | 24,820.73 | $ | 17,008.53 | ||||
| Cumulative Rejected Claim Repurchases | $ | 149,728.30 | $ | 124,907.57 | ||||
| Cumulative Claims Filed | $ | 109,478,155.14 | $ | 100,571,772.80 | ||||
| Unpaid Primary Servicing Fees | $ | — | $ | — | ||||
| Unpaid Administration Fees | $ | — | $ | — | ||||
| Unpaid Carryover Servicing Fees | $ | — | $ | — | ||||
| Note Principal Shortfall | $ | — | $ | — | ||||
| Note Interest Shortfall | $ | — | $ | — | ||||
| Unpaid Interest Carryover | $ | — | $ | — | ||||
| Borrower Interest Accrued | $ | 5,531,607.21 | $ | 5,577,554.69 | ||||
| Interest Subsidy Payments Accrued | $ | 871,587.78 | $ | 906,784.89 | ||||
| Special Allowance Payments Accrued | $ | 1,195,495.96 | $ | 1,566,849.30 | ||||
Trust 2002-4 Quarterly Servicing Report: Collection Period 09/01/2005 — 11/30/2005, Distribution Date 12/15/2005
Page 4 of 8
V. 2002-4 Portfolio Statistics by School and Program
| A | LOAN TYPE | WAC | # LOANS | $ AMOUNT | % * | |||||||||||||
| - GSL - Subsidized | 5.15 | % | 94,756 | $ | 225,265,215.53 | 48.554 | % | |||||||||||
| - GSL - Unsubsidized | 5.14 | % | 58,638 | 168,305,657.13 | 36.276 | % | ||||||||||||
| - PLUS Loans | 6.11 | % | 15,641 | 69,646,869.08 | 15.012 | % | ||||||||||||
| - SLS Loans | 6.62 | % | 255 | 734,712.07 | 0.158 | % | ||||||||||||
| - Consolidation Loans | 0.00 | % | 0 | 0.00 | 0.000 | % | ||||||||||||
| Total | 5.29 | % | 169,290 | $ | 463,952,453.81 | 100.000 | % | |||||||||||
| B | SCHOOL TYPE | WAC | # LOANS | $ AMOUNT | % * | |||||||||||||
| - Four Year | 5.28 | % | 125,208 | $ | 368,841,630.48 | 79.500 | % | |||||||||||
| - Two Year | 5.35 | % | 34,117 | 73,341,802.70 | 15.808 | % | ||||||||||||
| - Technical | 5.36 | % | 9,963 | 21,762,547.69 | 4.691 | % | ||||||||||||
| - Other | 5.30 | % | 2 | 6,472.94 | 0.001 | % | ||||||||||||
| Total | 5.29 | % | 169,290 | $ | 463,952,453.81 | 100.000 | % | |||||||||||
| * | Percentages may not total 100% due to rounding. |
Trust 2002-4 Quarterly Servicing Report: Collection Period 09/01/2005 — 11/30/2005, Distribution Date 12/15/2005
Page 5 of 8
VI. 2002-4 Waterfall for Distributions
| Remaining | ||||||||||
| Paid | Funds Balance | |||||||||
| Total Available Funds | $ | 62,283,448.53 | ||||||||
| A | Primary Servicing Fee | $ | 359,803.72 | $ | 61,923,644.81 | |||||
| B | Administration Fee | $ | 20,000.00 | $ | 61,903,644.81 | |||||
| C | Class A Noteholders' Interest Distribution Amount | $ | 4,845,069.53 | $ | 57,058,575.28 | |||||
| D | Class B Noteholders' Interest Distribution Amount | $ | 491,566.30 | $ | 56,567,008.98 | |||||
| E | Class A Noteholders' Principal Distribution Amount | $ | 54,825,169.25 | $ | 1,741,839.73 | |||||
| F | Class B Noteholders' Principal Distribution Amount | $ | — | $ | 1,741,839.73 | |||||
| G | Reserve Account Reinstatement | $ | — | $ | 1,741,839.73 | |||||
| H | Carryover Servicing Fee | $ | — | $ | 1,741,839.73 | |||||
| I | Excess Distribution | $ | 1,741,839.73 | $ | — | |||||
Trust 2002-4 Quarterly Servicing Report: Collection Period 09/01/2005 — 11/30/2005, Distribution Date 12/15/2005
Page 6 of 8
VII. 2002-4 Distributions
| Distribution Amounts | A3 | A4 | B | |||||||||
| Cusip/Isin | 78442GDW3 | 78442GDX1 | 78442GDY9 | |||||||||
| Beginning Balance | $ | 5,591,393.82 | $ | 472,480,000.00 | $ | 45,973,000.00 | ||||||
| Index | LIBOR | LIBOR | LIBOR | |||||||||
| Spread/Fixed Rate | 0.08 | % | 0.14 | % | 0.36 | % | ||||||
| Record Date | 1 NEW YORK BUSINESS DAY | 1 NEW YORK BUSINESS DAY | 1 NEW YORK BUSINESS DAY | |||||||||
| Accrual Period Begin | 09/15/2005 | 09/15/2005 | 09/15/2005 | |||||||||
| Accrual Period End | 12/15/2005 | 12/15/2005 | 12/15/2005 | |||||||||
| Daycount Fraction | 0.25277778 | 0.25277778 | 0.25277778 | |||||||||
| Interest Rate | 3.95000 | % | 4.01000 | % | 4.23000 | % | ||||||
| Accrued Interest Factor | 0.009984721 | 0.010136389 | 0.010692500 | |||||||||
| Current Interest Due | $ | 55,828.51 | $ | 4,789,241.02 | $ | 491,566.30 | ||||||
| Interest Shortfall from Prior Period Plus Accrued Interest | $ | — | $ | — | $ | — | ||||||
| Total Interest Due | $ | 55,828.51 | $ | 4,789,241.02 | $ | 491,566.30 | ||||||
| Interest Paid | $ | 55,828.51 | $ | 4,789,241.02 | $ | 491,566.30 | ||||||
| Interest Shortfall | $ | — | $ | — | $ | — | ||||||
| Carryover Interest Shortfall from Prior Period Plus Accrued Interest | $ | — | $ | — | $ | — | ||||||
| Current Interest Carryover Due | $ | — | $ | — | $ | — | ||||||
| Interest Carryover Paid | $ | — | $ | — | $ | — | ||||||
| Unpaid Interest Carryover | $ | — | $ | — | $ | — | ||||||
| Principal Paid | $ | 5,591,393.82 | $ | 49,233,775.43 | $ | — | ||||||
| Ending Principal Balance | $ | — | $ | 423,246,224.57 | $ | 45,973,000.00 | ||||||
| Paydown Factor | 0.019969264 | 0.104202877 | 0.000000000 | |||||||||
| Ending Balance Factor | 0.000000000 | 0.895797123 | 1.000000000 | |||||||||
Trust 2002-4 Quarterly Servicing Report: Collection Period 09/01/2005 — 11/30/2005, Distribution Date 12/15/2005
Page 7 of 8
VIII. 2002-4 Reconciliations
| A | Principal Distribution Reconciliation | |||||
| Prior Adjusted Pool Balance | $ | 524,044,393.82 | ||||
| Current Adjusted Pool Balance | $ | 469,219,224.57 | ||||
| Current Principal Due | $ | 54,825,169.25 | ||||
| Principal Shortfall from Previous Collection Period | $ | — | ||||
| Principal Distribution Amount | $ | 54,825,169.25 | ||||
| Principal Paid | $ | 54,825,169.25 | ||||
| Principal Shortfall | $ | — | ||||
| B | Reserve Account Reconciliation | |||||
| Beginning Period Balance | $ | 1,503,142.00 | ||||
| Reserve Funds Utilized | 0.00 | |||||
| Reserve Funds Reinstated | 0.00 | |||||
| Excess Distribution Deposit | 1,741,839.73 | |||||
| Balance Available | $ | 3,244,981.73 | ||||
| Required Reserve Acct Balance | $ | 1,503,142.00 | ||||
| Release to Excess Distribution Certificateholder | $ | 1,741,839.73 | ||||
| Ending Reserve Account Balance | $ | 1,503,142.00 | ||||
Trust 2002-4 Quarterly Servicing Report: Collection Period 09/01/2005 — 11/30/2005, Distribution Date 12/15/2005
Page 8 of 8
