SLM Student Loan Trust 2005-7 8K Other Events | SEC 4 Nov 05

SLM Student Loan Trust 2005-7 Quarterly Servicing Report
Collection Period End Date: 09/30/2005 Distribution Date: 10/25/2005 Record Date: 10/24/2005
Collection Period: 08/11/05-09/30/05

I. Deal Parameters



	Student Loan Portfolio Characteristics									8/11/2005			Activity			9/30/2005

A	i	Portfolio Balance								$	1,496,423,471.60			($2,543,693.26	)	$	1,493,879,778.34
	ii	Interest to be Capitalized									901,923.14						2,278,379.52

	iii	Total Pool								$	1,497,325,394.74					$	1,496,158,157.86

	iv	Capitalized Interest									48,000,000.00						45,045,967.90
	v	Add-on Consolidation Loan Account Balance									20,000,000.00						18,211,659.12
	vi	Specified Reserve Account Balance									3,800,978.00						3,785,924.54

	vii	Total Adjusted Pool								$	1,569,126,372.74					$	1,563,201,709.42


B	i	Weighted Average Coupon (WAC)									3.534	%					3.534	%
	ii	Weighted Average Remaining Term									269.07						269.76
	iii	Number of Loans									97,354						97,313
	iv	Number of Borrowers									59,987						59,962
	v*	Aggregate Outstanding Principal Balance — T-Bill								$	1,703,951					$	1,857,146
	vi*	Aggregate Outstanding Principal Balance — Commercial Paper								$	1,498,687,160					$	1,494,301,012


										% of						% of
	Notes			Rate/Spread			Balance 8/11/2005			O/S Securities			Balance 10/25/05			O/S Securities

C	i	A-1 Notes	78442GQF6		0.000	%	$	453,000,000.00			28.883	%	$	453,000,000.00			28.883	%
	ii	A-2 Notes	78442GQG4		0.090	%		315,000,000.00			20.084	%		315,000,000.00			20.084	%
	iii	A-3 Notes	78442GQH2		4.410	%		266,000,000.00			16.960	%		266,000,000.00			16.960	%
	iv	A-4 Notes	78442GQJ8		0.150	%		307,339,000.00			19.596	%		307,339,000.00			19.596	%
	v	A-5 Notes	78442GQK5		0.090	%		180,000,000.00			11.477	%		180,000,000.00			11.477	%
	vi	B Notes	78442GQL3		0.310	%		47,052,000.00			3.000	%		47,052,000.00			3.000	%

	vii	Total Notes					$	1,568,391,000.00			100.000	%	$	1,568,391,000.00			100.000	%



	Reserve Account						8/11/2005						10/25/2005

D		Required Reserve Acct Deposit (%)					0.25%						0.25%

	i	Reserve Acct Initial Deposit ($)					$	3,800,978.00
	ii	Specified Reserve Acct Balance ($)					$	3,800,978.00					$	3,785,924.54
	iii	Reserve Account Floor Balance ($)					$	2,280,587.00					$	2,280,587.00
	iv	Current Reserve Acct Balance ($)					$	3,800,978.00					$	3,785,924.54


	Other Accounts						8/11/2005						10/25/2005

E	i	Supplemental Loan Purchase Account					$	3,075,232.28					$	0.00
	ii	Add-on Consolidation Loan Account					$	20,000,000.00					$	18,211,659.12
	iii	Capitalized Interest Account					$	48,000,000.00					$	45,045,967.90
	iv	Remarketing Fee Account					$	0.00					$	0.00
	v	A-3 Accumulation Account					$	0.00					$	0.00
	vi	A-3 Supplemental Interest Account					$	0.00					$	0.00
	vii	Investment Reserve Acocunt					$	0.00					$	0.00
	viii	Investment Premium Purchase Acocunt					$	0.00					$	0.00


	Asset/Liability						8/11/2005						10/25/2005

F		Initial Pool Balance (as of sale date, 8/11/05)					$	1,520,400,627.02					$	1,520,400,627.02
	i	Total Pool					$	1,497,325,394.74					$	1,496,158,157.86
	ii	% of Intial Pool Balance						98.48229	%					98.40552	%
	iii	Total Adjusted Pool					$	1,569,126,372.74					$	1,563,201,709.42
	iv	Total Outstanding Balance Notes					$	1,568,391,000.00					$	1,568,391,000.00
	v	Difference ( i - iii )					$	735,372.74					$	(5,189,290.58	)
	vi	Parity Ratio ( iii / iv )						1.00047						0.99669


	Relevant Parties/General Trust Information

G	i	Indenture Trustee		Deutsche Bank Trust Company Americas
	ii	Eligible Lender Trustee		Chase Bank USA, National Association
	iii	Luxembourg Paying Agent		Deutsche Bank Luxembourg SA
	iv	Administrator		Sallie Mae, Inc.
	v	Servicer		Sallie Mae, Inc.
	vi	Swap Counterparty		The Royal Bank of Scotland plc
	vii	Exess Distribution Certificateholder		SLM Investment Corporation


*	Sections B-v and B-vi are as of the Statistical Cutoff date (7/25/2005).

II. 2005-7 Transactions from: 08/10/2005 through: 09/30/2005


A	Student Loan Principal Activity
	i	Regular Principal Collections	$	8,081,199.56
	ii	Principal Collections from Guarantor		53,404.88
	iii	Principal Reimbursements		368,190.10
	iv	Other System Adjustments		0.00

	v	Total Principal Collections	$	8,502,794.54

B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	84,840.37
	ii	Capitalized Interest		(860,785.70	)

	iii	Total Non-Cash Principal Activity	$	(775,945.33	)

C	Student Loan Principal Purchases		$	(5,183,155.95	)


D	Total Student Loan Principal Activity		$	2,543,693.26


E	Student Loan Interest Activity
	i	Regular Interest Collections	$	3,747,839.00
	ii	Interest Claims Received from Guarantors		230.70
	iii	Collection Fees/Returned Items		36.05
	iv	Late Fee Reimbursements		10,390.10
	v	Interest Reimbursements		1,370.80
	vi	Other System Adjustments		0.00
	vii	Special Allowance Payments		0.00
	viii	Subsidy Payments		0.00

	ix	Total Interest Collections	$	3,759,866.65

F	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustment	$	(369.74	)
	ii	Capitalized Interest		860,785.70

	iii	Total Non-Cash Interest Adjustments	$	860,415.96

G	Student Loan Interest Purchases		$	(3,438,367.43	)


H	Total Student Loan Interest Activity		$	1,181,915.18


I	Non-Reimbursable Losses During Collection Period		$	0.00

J	Cumulative Non-Reimbursable Losses to Date		$	0.00

III. 2005-7 Collection Account Activity 08/10/2005 through 09/30/2005


A	Principal Collections
	i	Principal Payments Received	$	6,314,886.69
	ii	Consolidation Principal Payments		1,819,717.75
	iii	Reimbursements by Selle		1,608.83
	iv	Borrower Benefits Reimbursements		0.00
	v	Reimbursements by Servicer		0.00
	vi	Re-purchased Principal		366,581.27


	vii	Total Principal Collections	$	8,502,794.54

B	Interest Collections
	i	Interest Payments Received	$	3,740,762.97
	ii	Consolidation Interest Payments		7,306.73
	iii	Reimbursements by Seller		0.00
	iv	Borrower Benefits Reimbursements		0.00
	v	Reimbursements by Servicer		237.36
	vi	Re-purchased Interest		1,133.44
	vii	Collection Fees/Return Items		36.05
	viii	Late Fees		10,390.10


	ix	Total Interest Collections	$	3,759,866.65

C	Other Reimbursements		$	33,365.70

D	Reserves in Excess of the Requirement		$	15,053.46

E	Administrator Account Investment Income		$	0.00

F	Investment Earnings for Period in Trust Accounts		$	378,500.55

G	Swap Receipts from The Royal Bank of Scotland plc		$	2,411,290.00

H	Funds borrowed during previous distribution		$	0.00

I	Funds borrowed from subsequent distribution		$	0.00

J	Excess Transferred from Supplemental Loan Purchase Account		$	18,256.78

K	Excess Transferred from Add-on Consolidation Loan Account		$	0.00

L	Excess Transferred from Remarketing Fee Account		$	0.00

M	Funds Released from Capitalized Interest Account		$	2,954,032.10

N	Funds Released from Supplemental Interest Account		$	0.00

O	Initial Deposits into Collection Account		$	403,265.00

	TOTAL AVAILABLE FUNDS		$	18,476,424.78

P	LESS FUNDS PREVIOUSLY REMITTED:
	i	Servicing Fees	$	(423,008.66	)
	ii	Consolidation Loan Rebate Fees	$	(2,627,558.30	)

Q	NET AVAILABLE FUNDS		$	15,425,857.82

R	Servicing Fees Previously Remitted to Servicer
	i	09/26/2005	$	423,008.66

S	Consolidation Loan Rebate Fees Previously Remitted to Dept. of Education
	i	09/26/2005	$	1,314,625.52
	ii	10/26/2005	$	1,312,932.78

T	Carryover Servicing Fees Due		$	0.00

IV. 2005-7 Portfolio Characteristics


	Weighted Avg Coupon						# of Loans				% *						Principal Amount				% *
STATUS	08/11/2005			09/30/2005			08/11/2005		09/30/2005		08/11/2005			09/30/2005			08/11/2005		09/30/2005		08/11/2005			09/30/2005
INTERIM:
In School
Current		0.000	%		0.000	%		0		0		0.000	%		0.000	%	$	0.00	$	0.00		0.000	%		0.000	%

Grace
Current		0.000	%		0.000	%		0		0		0.000	%		0.000	%		0.00		0.00		0.000	%		0.000	%

TOTAL INTERIM		0.000	%		0.000	%		0		0		0.000	%		0.000	%	$	0.00	$	0.00		0.000	%		0.000	%
REPAYMENT
Active
Current		3.729	%		3.761	%		71,938		60,382		73.893	%		62.049	%	$	1,046,947,539.14	$	844,304,070.97		69.963	%		56.518	%
31-60 Days Delinquent		3.570	%		3.865	%		84		2,412		0.086	%		2.479	%		1,529,483.92		37,931,120.26		0.102	%		2.539	%
61-90 Days Delinquent		4.080	%		4.789	%		42		32		0.043	%		0.033	%		1,023,053.97		821,460.20		0.068	%		0.055	%
91-120 Days Delinquent		4.417	%		3.725	%		15		30		0.015	%		0.031	%		555,063.23		560,247.19		0.037	%		0.038	%
> 120 Days Delinquent		3.312	%		4.431	%		4		33		0.004	%		0.034	%		58,596.91		1,165,862.75		0.004	%		0.078	%

Deferment
Current		3.036	%		3.078	%		24,395		29,710		25.058	%		30.530	%		425,645,128.03		515,442,071.59		28.444	%		34.504	%

Forbearance
Current		3.865	%		3.829	%		874		4,698		0.898	%		4.828	%		20,636,523.66		93,255,438.42		1.379	%		6.242	%

TOTAL REPAYMENT		3.534	%		3.533	%		97,352		97,297		99.998	%		99.984	%	$	1,496,395,388.86	$	1,493,480,271.38		99.998	%		99.973	%
Claims in Process (1)		6.250	%		4.954	%		2		16		0.002	%		0.016	%	$	28,082.74	$	399,506.96		0.002	%		0.027	%
Aged Claims Rejected (2)		0.000	%		0.000	%		0		0		0.000	%		0.000	%	$	0.00	$	0.00		0.000	%		0.000	%
GRAND TOTAL		3.534	%		3.534	%		97,354		97,313		100.000	%		100.000	%	$	1,496,423,471.60	$	1,493,879,778.34		100.000	%		100.000	%

V. 2005-7 Interest Accruals


A	Borrower Interest Accrued During Collection Period		$	6,441,846.36

B	Interest Subsidy Payments Accrued During Collection Period			907,825.11

C	SAP Payments Accrued During Collection Period			5,933,438.62

D	INV Earnings Accrued for Collection Period (TRUST ACCOUNTS)			378,500.55

E	Investment Earnings (ADMINISTRATOR ACCOUNTS)			0.00

F	Consolidation Loan Rebate Fees			(2,627,558.30	)

G	Net Expected Interest Collections		$	11,034,052.34

VI. 2005-7 Interest Rate Swap on Fixed Rate Reset Notes

	Swap Counterparty		The Royal Bank of Scotland plc


			Swap Calculation

	i	Notional Amount (A-3 Note Beginning Balance)	$	266,000,000.00

	SLM Student Loan Trust 2005-7 Pays:
	ii	3M LIBOR		3.72118	%
	iii	Spread		-0.02200	%

	iv	Swap Rate		3.69918	%
	v	Daycount (Actual/360) 08/11/2005 - 10/25/2005		75

	vi	Payment Amount to RBS plc	$	2,049,962.25


	The Royal Bank of Scotland pays:
	vii	A-3 Note Rate		4.410	%
	viii	Daycount (30/360) 08/11/2005 - 10/25/2005		74

	ix	Payment Amount to SLM Trust 2005-7	$	2,411,290.00

VII. 2005-7 Accrued Interest Factors

Accrued

Int Factor

Accrual Period

Rate

Index

Accrual Basis

Class A-1 Interest Rate

0.007752458

8/11/05 - 10/25/05

3.72118

LIBOR

Actual/360

Class A-2 Interest Rate

0.007939958

8/11/05 - 10/25/05

3.81118

LIBOR

Actual/360

Class A-3 Interest Rate

0.009065000

8/11/05 - 10/25/05

4.41000

FIXED

30/360

Class A-4 Interest Rate

0.008064958

8/11/05 - 10/25/05

3.87118

LIBOR

Actual/360

Class A-5 Interest Rate

0.007939958

8/11/05 - 10/25/05

3.81118

LIBOR

Actual/360

Class B Interest Rate

0.008398292

8/11/05 - 10/25/05

4.03118

LIBOR

Actual/360

VIII. 2005-7 Inputs From Initial Period 8/11/05


A	Total Student Loan Pool Outstanding
	i	Portfolio Balance	$	1,496,423,471.60
	ii	Interest To Be Capitalized		901,923.14

	iii	Total Pool	$	1,497,325,394.74
	iv	Capitalized Interest		48,000,000.00
	v	Add-on Consolidation Loan Account Balance		20,000,000.00
	vi	Specified Reserve Account Balance		3,800,978.00

	vii	Total Adjusted Pool	$	1,569,126,372.74


B	Total Note and Certificate Factor			1.000000000
C	Total Note Balance		$	1,568,391,000.00


D	Note Balance 08/11/2005		Class A-1		Class A-2		Class A-3		Class A-4		Class A-5		Class B

	i	Current Factor		1.000000000		1.000000000		1.000000000		1.000000000		1.000000000		1.000000000
	ii	Expected Note Balance	$	453,000,000.00	$	315,000,000.00	$	266,000,000.00	$	307,339,000.00	$	180,000,000.00	$	47,052,000.00

	iii	Note Principal Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	iv	Interest Shortfall	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	v	Interest Carryover	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00	$	0.00


E	Reserve Account Balance		$	3,800,978.00
F	Unpaid Primary Servicing Fees from Prior Month(s)		$	0.00
G	Unpaid Administration fees from Prior Quarter(s)		$	0.00
H	Unpaid Carryover Servicing Fees from Prior Quarter(s)		$	0.00
I	Interest Due on Unpaid Carryover Servicing Fees		$	0.00

IX. 2005-7 Waterfall for Distributions Distribution Date: 10/25/2005


						Remaining
	Item Description		Recipient	Amount Paid		Funds Balance
A	Total Available Funds ( Section III-Q )					$	15,425,857.82

B	Primary Servicing Fees-Current Month		Sallie Mae, Inc.	$	623,629.91	$	14,802,227.91

C	Administration Fee		Sallie Mae, Inc.	$	25,000.00	$	14,777,227.91

D	Quarterly Funding Amount		Remarketing Fee Account	$	0.00	$	14,777,227.91

E	Class A Noteholders’ Interest Distribution Amounts
	i	Class A-1		$	3,511,863.63	$	11,265,364.28
	ii	Class A-2		$	2,501,086.88	$	8,764,277.40
	iii	Class A-3		$	2,411,290.00	$	6,352,987.40
	iv	Class A-4		$	2,478,676.23	$	3,874,311.17
	v	Class A-5		$	1,429,192.50	$	2,445,118.67

	vii	Total Class A Interest Distribution	Applicable Noteholders	$	12,332,109.24

F	Interest Rate Swap Payment (pro-rata with Item E) t		The Royal Bank of Scotland plc	$	2,049,962.25	$	395,156.42

G	Class B Noteholders’ Interest Distribution Amount		Applicable Noteholders	$	395,156.42	$	0.00

H	Class A Noteholders’ Principal Distribution Amounts
	i	Class A-1		$	0.00	$	0.00
	ii	Class A-2		$	0.00	$	0.00
	iii	Class A-3		$	0.00	$	0.00
	iv	Class A-4		$	0.00	$	0.00
	v	Class A-5		$	0.00	$	0.00

	vii	Total Class A Principal Distribution	Applicable Noteholders	$	0.00

I	Supplemental Interest Account Deposit		Supplemental Interest Account	$	0.00	$	0.00

J	Investment Reserve Account Required Amount		Investment Reserve Account	$	0.00	$	0.00

K	Class B Noteholders’ Principal Distribution Amount		Applicable Noteholders	$	0.00	$	0.00

L	Reinstate Reserve Account to the Specified Reserve Account Balance		Reserve Account	$	0.00	$	0.00

M	Investment Premium Puchase Account Deposit Amount		Inv. Premium Purchase Account	$	0.00	$	0.00

N	Carryover Servicing Fees		Sallie Mae, Inc.	$	0.00	$	0.00

O	Remarketing Fees not paid from Remarketing Fee Account		Remarketing Agent(s)	$	0.00	$	0.00

P	Excess to Certificateholder		SLM Investment Corporation	$	0.00	$	0.00

X. 2005-7 Account Reconciliations


Reserve Account
	i	Initial Deposit	$	3,800,978.00
	ii	Deposits to correct Shortfall	$	0.00
	iii	Total Reserve Account Balance Available	$	3,800,978.00
	iv	Required Reserve Account Balance	$	3,785,924.54

	v	Shortfall Carried to Next Period	$	0.00
	vi	Excess Reserve - Release to Waterfall	$	15,053.46
	vii	Ending Reserve Account Balance	$	3,785,924.54

Supplemental Loan Purchase Account
	i	Initial Deposit	$	3,075,232.28
	ii	Supplemental Loan Purchases	$	(3,056,975.50	)
	iii	Transfers to Collection Account	$	(18,256.78	)

	iv	Ending Balance	$	0.00

Add-on Consolidation Loan Account
	Consolidation Loan Add-on Period end date			12/31/2005
	i	Initial Deposit	$	20,000,000.00
	ii	Add-on Loans Funded	$	(1,788,340.88	)
	iii	Transfers to Collection Account	$	0.00

	iv	Ending Balance	$	18,211,659.12

Capitalized Interest Account
	Capitalized Interest Account Release Date			10/25/2007
	i	Initial Deposit	$	48,000,000.00
	ii	Transfers to Collection Account	$	(2,954,032.10	)

	iii	Ending Balance	$	45,045,967.90

Remarketing Fee Account
	Next Remarketing Date A-3 Notes			04/25/2008
	Next Remarketing Date A-5 Notes			07/25/2013
	Reset Period Target Amount		$	0.00
	Quarterly Required Amount		$	0.00
	i	Initial Deposit	$	0.00
	ii	Quarterly Funding Amount	$	0.00
	iii	Quarterly Required Amount Excess	$	0.00

	iv	Ending Balance	$	0.00

A-3 Accumulation Account
	i	Initial Deposits	$	0.00
	ii	A-3 PDA deposits	$	0.00
	iii	Principal Payments to the A-3 Noteholder	$	0.00

	iv	Ending Balance	$	0.00

A-3 Supplemental Interest Account
	Accumulation Account Balance		$	0.00
	3M LIBOR-based swap rate			n/a
	Assumed Investment Rate, Accum. Account			n/a
	Difference			n/a
	Number of Days Through Next Distribution Date			n/a
	vi	Initial Deposits	$	0.00
	vii	Funds Released into Collection Account	$	0.00
	viii	Supplemental Interest Account Deposit Amount	$	0.00

	ix	Ending Balance	$	0.00

Investment Reserve Account
	Investment Downgrade Flag			N
	i	Initial Deposits	$	0.00
	ii	Transfer to Accumulation Account	$	0.00
	iii	Funds Released into Collection Account	$	0.00
	iv	New Deposits	$	0.00
	v	Ending Balance	$	0.00

Investment Premium Purchase Account
	i	Initial Deposits	$	0.00
	ii	New Quarterly Deposits
	iii	(=1% of new Accum. Account Deposits)	$	0.00
	iv	Payments made on investments in excess of par	$	0.00
	v	Ending Balance	$	0.00

XI. 2005-7 Trigger Events


A	Has Stepdown Date Occurred?		N
		The Stepdown Date is the earlier of (1) 07/25/2011 or (2) the
		first date on which no class A notes remain outstanding.

B	Note Balance Trigger		Y

	Class A Percentage		100.00%
	Class B Percentage		0.00%

XII. 2005-7 Distributions


A	Distribution Amounts		Class A-1			Class A-2		Class A-3		Class A-4		Class A-5		Class B
	i	Quarterly Interest Due	$	3,511,863.63		$	2,501,086.88	$	2,411,290.00	$	2,478,676.23	$	1,429,192.50	$	395,156.42
	ii	Quarterly Interest Paid		3,511,863.63			2,501,086.88		2,411,290.00		2,478,676.23		1,429,192.50		395,156.42

	iii	Interest Shortfall	$	0.00		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00

	vii	Quarterly Principal Due	$	5,189,290.58		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00
	viii	Quarterly Principal Paid		0.00			0.00		0.00		0.00		0.00		0.00

	ix	Quarterly Principal Shortfall	$	5,189,290.58		$	0.00	$	0.00	$	0.00	$	0.00	$	0.00


	x	Total Distribution Amount	$	3,511,863.63		$	2,501,086.88	$	2,411,290.00	$	2,478,676.23	$	1,429,192.50	$	395,156.42


B	Principal Distribution Reconciliation
	i	Notes Outstanding Principal Balance 9/30/05	$	1,568,391,000.00
	ii	Adjusted Pool Balance 9/30/05		1,563,201,709.42

	iii	Adjusted Pool Exceeding Notes Balance (i-ii)	$	5,189,290.58


	iv	Adjusted Pool Balance 8/11/05	$	1,569,126,372.74
	v	Adjusted Pool Balance 9/30/05		1,563,201,709.42

	vi	Current Principal Due (iv-v)	$	5,924,663.32
	vii	Notes Issued Exceeding Adjusted Pool Balance		(735,372.74	)

	viii	Principal Distribution Amount (vi + vii)	$	5,189,290.58


	ix	Principal Distribution Amount Paid	$	0.00

	x	Principal Shortfall (viii - ix)	$	5,189,290.58

C		Total Principal Distribution	$	0.00
D		Total Interest Distribution		12,727,265.66

E		Total Cash Distributions	$	12,727,265.66


F	Note Balances			08/11/2005		Paydown Factor	10/25/2005
	i	A-1 Note Balance	78442GQF6	$	453,000,000.00		$	453,000,000.00
		A-1 Note Pool Factor			1.000000000	0.000000000		1.000000000

	ii	A-2 Note Balance	78442GQG4	$	315,000,000.00		$	315,000,000.00
		A-2 Note Pool Factor			1.000000000	0.000000000		1.000000000

	iii	A-3 Note Balance	78442GQH2	$	266,000,000.00		$	266,000,000.00
		A-3 Note Pool Factor			1.000000000	0.000000000		1.000000000

	iv	A-4 Note Balance	78442GQJ8	$	307,339,000.00		$	307,339,000.00
		A-4 Note Pool Factor			1.000000000	0.000000000		1.000000000

	v	A-5 Note Balance	78442GQK5	$	180,000,000.00		$	180,000,000.00
		A-5 Note Pool Factor			1.0000000000	0.000000000		1.0000000000

	vi	B Note Balance	78442GQL3	$	47,052,000.00		$	47,052,000.00
		B Note Pool Factor			1.000000000	0.000000000		1.000000000

XIII. 2005-7 Historical Pool Information


			08/11/05-09/30/05

Beginning Student Loan Portfolio Balance			$	1,496,423,471.60

	Student Loan Principal Activity
	i	Regular Principal Collections	$	8,081,199.56
	ii	Principal Collections from Guarantor		53,404.88
	iii	Principal Reimbursements		368,190.10
	iv	Other System Adjustments		0.00

	v	Total Principal Collections	$	8,502,794.54
	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	84,840.37
	ii	Capitalized Interest		(860,785.70	)

	iii	Total Non-Cash Principal Activity	$	(775,945.33	)

	Student Loan Principal Purchases		$	(5,183,155.95	)

(-)	Total Student Loan Principal Activity		$	2,543,693.26

	Student Loan Interest Activity
	i	Regular Interest Collections	$	3,747,839.00
	ii	Interest Claims Received from Guarantors		230.70
	iii	Collection Fees/Returned Items		36.05
	iv	Late Fee Reimbursements		10,390.10
	v	Interest Reimbursements		1,370.80
	vi	Other System Adjustments		0.00
	vii	Special Allowance Payments		0.00
	viii	Subsidy Payments		0.00

	ix	Total Interest Collections	$	3,759,866.65

	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustmen	$	(369.74	)
	ii	Capitalized Interest		860,785.70

	iii	Total Non-Cash Interest Adjustments	$	860,415.96

	Student Loan Interest Purchases		$	(3,438,367.43	)

	Total Student Loan Interest Activity		$	1,181,915.18

(=)	Ending Student Loan Portfolio Balance		$	1,493,879,778.34
(+)	Interest to be Capitalized		$	2,278,379.52

(=)	TOTAL POOL		$	1,496,158,157.86

(+)	Capitalized Interest		$	45,045,967.90

(+)	Add-on Consolidation Loan Account Balance		$	18,211,659.12

(+)	Reserve Account Balance		$	3,785,924.54

(=)	Total Adjusted Pool		$	1,563,201,709.42

XIV. 2005-7 Payment History and CPRs


Distribution	Actual		Since Issued
Date	Pool Balances		CPR *

Oct-05	$	1,496,158,158		5.25	%

* “Since Issued CPR” is based on the current period’s ending pool balance
calculated against the original pool balance and assuming cutoff date pool data.

SLM Student Loan Trust 2005-7 8-KOther Events