SLM Student Loan Trust 2012-2 FWP Free writing prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-166301

Subject to Completion and Modification

SLM FUNDING LLC HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES.  BEFORE YOU INVEST, YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND THE OTHER DOCUMENTS SLM FUNDING LLC HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION ABOUT SLM FUNDING LLC AND THIS OFFERING.  YOU MAY GET THESE DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.  ALTERNATIVELY, SLM FUNDING LLC, ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY CALLING 1-800-321-7179.

Free-Writing Prospectus

$824,000,000

SLM Student Loan Trust 2012-2

Issuing Entity

SLM Funding LLC

Depositor

Sallie Mae, Inc.

Sponsor, Servicer and Administrator

Student Loan-Backed Notes

On or about March 15, 2012, the trust will issue:

Class	Principal	Interest Rate	Maturity
Floating Rate Class A Notes	$ 799,000,000	1-month LIBOR plus     %	January 25, 2029
Floating Rate Class B Notes	$   25,000,000	1-month LIBOR plus     %	April 25, 2044

The trust will make payments primarily from collections on a pool of FFELP student loans.  Interest and principal on the notes will be payable monthly on the 25th day (or if such day is not a business day, the next business day) of each calendar month, beginning in May 2012.  In general, the trust will pay principal to the class A notes until paid in full, and then to the class B notes until paid in full.  Interest on the class B notes will be subordinate to interest on the class A notes and principal on the class B notes will be subordinate to both principal and interest on the class A notes.  Credit enhancement for the notes consists of excess interest on the trust student loans, subordination of the class B notes to the class A notes, overcollateralization and the reserve account.  In addition, the trust will deposit funds, on the closing date, into the capitalized interest account.  These funds will be available only for a limited period of time.  The interest rates on the notes will be determined by reference to LIBOR.  A description of how LIBOR is determined appears under “Additional Information Regarding the Notes—Determination of Indices—LIBOR” in the base prospectus.

Some or all of the class B notes may be retained by the depositor or an affiliate of the depositor.  This free-writing prospectus also covers the resale of any such retained class B notes from time to time by the depositor or an affiliate of the depositor.

We are offering the notes through the underwriters at the prices shown below when and if issued.

We are not offering the notes in any state or other jurisdiction where the offer is prohibited.

This document constitutes a “free-writing prospectus” within the meaning of Rule 405 under the Securities Act of 1933, as amended.

The notes are asset-backed securities issued by and are obligations of the issuing entity, which is a trust.  They are not obligations of or interests in SLM Corporation, the sponsor, administrator, servicer, depositor, any seller, any underwriter or any of their affiliates.

The notes are not guaranteed or insured by the United States or any governmental agency.

______________ Joint Book-Runners
Barclays Capital	RBC Capital Markets
_______________ Co-Manager RBS _____________ February 29, 2012

The Information in this Free-Writing Prospectus

The information contained herein refers to and supplements certain of the information contained in the Prospectus Supplement, dated February 29, 2012 (the “preliminary prospectus supplement”).  Capitalized terms not defined herein shall have the meanings ascribed to such terms in the preliminary prospectus supplement.

Rep Lines

Below are the rep lines referred to in the final bullet point on page I-3 of Exhibit I to the preliminary prospectus supplement.

Id	TrustName	DatedDate	LoanType	SubPct (%)	SchoolType	LoanStatus	180DaysDelinquent	OriginationDate	StatusEndDate	RepayBeginDate	OrigPrinBal ($)	PrinBal ($)	IntTBCBal ($)	Loans
1	SLM 2012-2	1/31/2012	Stafford	46.151	Other	Repayment	TRUE	12/30/2007		4/26/2009	51,419.00	55,326.18	-	18
2	SLM 2012-2	1/31/2012	Stafford	50.167	Other	Repayment	TRUE	12/7/2007		5/15/2009	47,842.00	51,155.05	-	15
3	SLM 2012-2	1/31/2012	Stafford	37.179	Other	Repayment	TRUE	5/28/2007		10/28/2009	42,733.00	51,291.33	-	13
4	SLM 2012-2	1/31/2012	Stafford	42.452	Other	Repayment	TRUE	1/15/2007		3/10/2009	33,734.00	34,019.54	-	10
5	SLM 2012-2	1/31/2012	Stafford	46.704	Other	Repayment	TRUE	9/22/2005		3/15/2008	20,000.00	23,789.70	-	3
6	SLM 2012-2	1/31/2012	Stafford	49.951	Other	Repayment	TRUE	5/25/2006		1/26/2009	34,896.00	38,274.82	-	9
7	SLM 2012-2	1/31/2012	Stafford	37.274	Other	Repayment	TRUE	6/2/2006		7/16/2007	4,417.00	5,262.10	-	2
8	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Repayment	TRUE	11/22/2008		8/29/2010	89,671.66	86,818.40	-	34
9	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Repayment	TRUE	10/29/2008		2/5/2010	3,500.00	3,249.72	-	1
10	SLM 2012-2	1/31/2012	Stafford	47.606	Other	Repayment	TRUE	1/22/2008		2/6/2010	2,235,458.78	2,389,084.23	-	699
11	SLM 2012-2	1/31/2012	Stafford	46.979	Other	Repayment	TRUE	1/27/2008		7/4/2009	173,920.00	173,908.06	-	60
12	SLM 2012-2	1/31/2012	Stafford	64.102	Other	Repayment	TRUE	1/2/2008		2/27/2009	57,671.32	46,563.77	-	18
13	SLM 2012-2	1/31/2012	Stafford	79.909	Other	Repayment	TRUE	10/16/2007		9/14/2008	22,167.00	12,404.52	-	7
14	SLM 2012-2	1/31/2012	Stafford	52.047	Other	Repayment	TRUE	6/15/2007		12/9/2009	1,506,598.44	1,706,157.30	-	396
15	SLM 2012-2	1/31/2012	Stafford	60.393	Other	Repayment	TRUE	6/5/2007		3/30/2009	152,707.00	155,295.70	-	45
16	SLM 2012-2	1/31/2012	Stafford	66.828	Other	Repayment	TRUE	7/27/2007		12/24/2008	40,176.19	33,765.03	-	13
17	SLM 2012-2	1/31/2012	Stafford	77.052	Other	Repayment	TRUE	12/16/2006		6/24/2008	19,078.00	17,305.76	-	5
18	SLM 2012-2	1/31/2012	Stafford	38.220	Other	Repayment	TRUE	10/25/2006		12/1/2007	6,625.00	5,156.95	-	2
19	SLM 2012-2	1/31/2012	Stafford	51.005	Other	Repayment	TRUE	6/26/2005		10/9/2008	132,183.00	149,689.78	-	31
20	SLM 2012-2	1/31/2012	Stafford	69.887	Other	Repayment	TRUE	6/3/2005		5/8/2007	51,996.00	56,335.56	-	17
21	SLM 2012-2	1/31/2012	Stafford	36.993	Other	Repayment	TRUE	5/23/2005		11/2/2006	6,625.00	6,989.71	-	2
22	SLM 2012-2	1/31/2012	Stafford	45.306	Other	School	FALSE	5/20/2006	2/9/2014	8/12/2014	376,471.00	375,500.36	38,485.26	88
23	SLM 2012-2	1/31/2012	Stafford	99.749	Other	School	FALSE	11/12/2008	9/4/2013	3/7/2014	1,656,332.00	1,621,268.12	335.02	549
24	SLM 2012-2	1/31/2012	Stafford	46.292	Other	School	FALSE	5/30/2007	3/17/2015	9/17/2015	32,188.00	33,934.67	2,278.64	11
25	SLM 2012-2	1/31/2012	Stafford	41.668	Other	School	FALSE	2/4/2008	8/10/2013	2/10/2014	33,857,684.83	32,899,331.65	4,455,031.80	8,836
26	SLM 2012-2	1/31/2012	Stafford	48.176	Other	School	FALSE	6/21/2007	10/20/2013	4/22/2014	31,825,999.96	31,032,788.20	4,179,928.71	7,723
27	SLM 2012-2	1/31/2012	Stafford	46.914	Other	School	FALSE	5/31/2005	10/16/2013	4/18/2014	2,944,584.82	2,919,954.36	346,883.75	742
28	SLM 2012-2	1/31/2012	Stafford	37.121	Other	Grace	FALSE	5/20/2006	4/7/2012	4/8/2012	119,858.96	119,242.90	14,613.28	30
29	SLM 2012-2	1/31/2012	Stafford	88.958	Other	Grace	FALSE	10/11/2008	5/30/2012	6/25/2012	493,804.98	478,402.10	2,114.48	155
30	SLM 2012-2	1/31/2012	Stafford	44.825	Other	Grace	FALSE	6/10/2007	8/15/2012	11/6/2012	48,400.00	36,281.32	3,248.22	11
31	SLM 2012-2	1/31/2012	Stafford	43.107	Other	Grace	FALSE	1/26/2008	4/24/2012	4/25/2012	12,225,408.41	11,917,886.74	1,568,369.02	3,309
32	SLM 2012-2	1/31/2012	Stafford	48.033	Other	Grace	FALSE	6/17/2007	4/29/2012	5/1/2012	9,346,470.87	9,137,896.04	1,222,997.42	2,381
33	SLM 2012-2	1/31/2012	Stafford	50.895	Other	Grace	FALSE	6/30/2005	5/12/2012	4/30/2012	854,061.99	826,641.67	85,978.31	207
34	SLM 2012-2	1/31/2012	Stafford	43.856	Other	Deferment	FALSE	5/24/2006	9/20/2013	10/25/2008	840,186.04	912,859.28	11,798.16	233
35	SLM 2012-2	1/31/2012	Stafford	49.705	Other	Deferment	FALSE	5/17/2006	12/13/2014	6/1/2008	97,715.00	93,475.35	1,397.82	25
36	SLM 2012-2	1/31/2012	Stafford	40.905	Other	Deferment	FALSE	5/28/2006	4/19/2013	5/25/2008	75,478.00	71,170.82	812.81	13
37	SLM 2012-2	1/31/2012	Stafford	0.000	Other	Deferment	FALSE	5/8/2006	10/3/2015	1/27/2008	2,625.00	1,943.71	3.27	1
38	SLM 2012-2	1/31/2012	Stafford	91.520	Other	Deferment	FALSE	10/6/2008	6/19/2013	6/2/2010	1,866,936.23	1,782,691.37	9,551.73	625
39	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Deferment	FALSE	11/13/2008	10/6/2013	1/2/2010	110,311.00	91,063.44	-	38
40	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Deferment	FALSE	1/12/2008	1/20/2015	1/24/2009	6,892.00	4,353.91	-	3
41	SLM 2012-2	1/31/2012	Stafford	64.648	Other	Deferment	FALSE	5/11/2007	6/20/2013	4/30/2009	104,630.00	100,624.47	3,090.12	38
42	SLM 2012-2	1/31/2012	Stafford	45.759	Other	Deferment	FALSE	1/15/2008	6/9/2013	1/15/2010	57,800,258.64	61,143,177.62	1,716,131.47	16,419
43	SLM 2012-2	1/31/2012	Stafford	50.076	Other	Deferment	FALSE	1/7/2008	9/2/2013	5/22/2009	3,845,020.98	3,377,896.63	60,072.76	1,096
44	SLM 2012-2	1/31/2012	Stafford	50.719	Other	Deferment	FALSE	12/21/2007	10/26/2013	1/8/2009	1,305,010.14	1,008,414.70	12,888.19	376
45	SLM 2012-2	1/31/2012	Stafford	49.190	Other	Deferment	FALSE	11/23/2007	5/10/2014	7/3/2008	83,686.00	56,032.07	315.76	28
46	SLM 2012-2	1/31/2012	Stafford	48.646	Other	Deferment	FALSE	6/7/2007	7/2/2013	10/12/2009	53,352,318.79	57,734,494.71	1,765,644.96	13,326
47	SLM 2012-2	1/31/2012	Stafford	56.057	Other	Deferment	FALSE	5/22/2007	12/2/2013	2/17/2009	5,916,064.52	5,426,031.98	108,742.53	1,433
48	SLM 2012-2	1/31/2012	Stafford	52.399	Other	Deferment	FALSE	5/7/2007	11/1/2013	10/12/2008	2,394,518.10	1,935,975.06	24,512.03	603
49	SLM 2012-2	1/31/2012	Stafford	51.278	Other	Deferment	FALSE	1/3/2007	10/4/2013	4/3/2008	299,545.26	214,384.94	2,047.82	89
50	SLM 2012-2	1/31/2012	Stafford	65.789	Other	Deferment	FALSE	8/23/2006	5/25/2013	7/25/2007	10,447.00	4,848.72	11.95	6
51	SLM 2012-2	1/31/2012	Stafford	48.871	Other	Deferment	FALSE	6/2/2005	8/4/2013	9/1/2008	6,434,418.00	7,083,779.84	103,530.31	1,744
52	SLM 2012-2	1/31/2012	Stafford	57.626	Other	Deferment	FALSE	3/12/2004	10/28/2013	6/16/2005	37,500.00	18,046.16	91.19	7
53	SLM 2012-2	1/31/2012	Stafford	50.782	Other	Deferment	FALSE	4/29/2005	10/31/2013	12/25/2007	1,005,718.86	986,261.46	9,977.29	284
54	SLM 2012-2	1/31/2012	Stafford	55.696	Other	Deferment	FALSE	5/3/2005	11/24/2013	10/18/2007	645,865.70	544,561.30	3,307.72	170
55	SLM 2012-2	1/31/2012	Stafford	49.212	Other	Deferment	FALSE	4/7/2005	3/2/2014	3/13/2007	200,119.77	148,955.22	701.61	47
56	SLM 2012-2	1/31/2012	Stafford	64.685	Other	Deferment	FALSE	1/16/2005	8/26/2014	10/13/2006	62,544.42	32,755.36	50.11	13
57	SLM 2012-2	1/31/2012	Stafford	45.299	Other	Repayment	FALSE	5/23/2006		12/3/2008	101,594.00	112,879.23	-	31
58	SLM 2012-2	1/31/2012	Stafford	47.738	Other	Repayment	FALSE	5/23/2006		9/8/2008	89,530.00	89,836.36	-	18
59	SLM 2012-2	1/31/2012	Stafford	47.492	Other	Repayment	FALSE	5/26/2006		11/23/2008	74,540.00	72,863.52	-	12
60	SLM 2012-2	1/31/2012	Stafford	55.952	Other	Repayment	FALSE	5/28/2006		6/23/2008	33,486.00	29,760.62	-	9
61	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Repayment	FALSE	11/7/2008		7/20/2010	279,116.25	274,561.46	-	81
62	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Repayment	FALSE	11/11/2008		4/14/2010	105,349.00	102,763.07	-	30
63	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Repayment	FALSE	9/26/2008		8/22/2009	17,322.00	13,714.92	-	4
64	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Repayment	FALSE	9/20/2007		2/23/2009	4,500.00	2,473.25	-	1
65	SLM 2012-2	1/31/2012	Stafford	40.515	Other	Repayment	FALSE	9/19/2006		11/5/2009	7,500.00	8,620.98	-	2
66	SLM 2012-2	1/31/2012	Stafford	45.099	Other	Repayment	FALSE	1/16/2008		1/24/2010	11,254,795.87	12,420,613.80	-	2,918
67	SLM 2012-2	1/31/2012	Stafford	47.445	Other	Repayment	FALSE	1/13/2008		10/25/2009	6,220,687.50	6,328,587.95	-	1,516
68	SLM 2012-2	1/31/2012	Stafford	45.366	Other	Repayment	FALSE	1/2/2008		4/9/2009	1,584,229.47	1,537,170.70	-	339
69	SLM 2012-2	1/31/2012	Stafford	42.144	Other	Repayment	FALSE	11/21/2007		10/14/2008	423,772.51	398,736.35	-	113
70	SLM 2012-2	1/31/2012	Stafford	47.643	Other	Repayment	FALSE	6/14/2007		10/12/2009	9,288,633.43	10,598,987.44	-	2,159
71	SLM 2012-2	1/31/2012	Stafford	48.708	Other	Repayment	FALSE	6/12/2007		8/16/2009	6,183,188.83	6,529,177.57	-	1,314
72	SLM 2012-2	1/31/2012	Stafford	48.857	Other	Repayment	FALSE	5/14/2007		2/26/2009	2,419,489.26	2,405,435.07	-	478
73	SLM 2012-2	1/31/2012	Stafford	45.429	Other	Repayment	FALSE	4/17/2007		9/22/2008	1,207,053.50	1,110,418.23	-	259
74	SLM 2012-2	1/31/2012	Stafford	41.840	Other	Repayment	FALSE	5/21/2005		12/25/2008	884,760.66	1,007,179.51	-	233
75	SLM 2012-2	1/31/2012	Stafford	50.055	Other	Repayment	FALSE	4/20/2005		3/20/2008	758,752.24	813,318.47	-	198
76	SLM 2012-2	1/31/2012	Stafford	44.087	Other	Repayment	FALSE	4/20/2005		7/26/2008	363,899.95	374,626.75	-	87
77	SLM 2012-2	1/31/2012	Stafford	47.837	Other	Repayment	FALSE	3/7/2005		4/23/2008	236,689.42	222,929.64	-	53
78	SLM 2012-2	1/31/2012	Stafford	45.128	Other	Repayment	FALSE	5/28/2006		6/8/2009	997,084.41	1,099,057.11	-	267
79	SLM 2012-2	1/31/2012	Stafford	43.795	Other	Repayment	FALSE	5/27/2006		12/28/2008	405,385.11	390,512.13	-	85
80	SLM 2012-2	1/31/2012	Stafford	51.149	Other	Repayment	FALSE	5/27/2006		2/9/2009	591,442.92	479,325.31	-	127
81	SLM 2012-2	1/31/2012	Stafford	41.631	Other	Repayment	FALSE	5/26/2006		4/19/2008	968,478.35	805,215.13	-	162
82	SLM 2012-2	1/31/2012	Stafford	41.944	Other	Repayment	FALSE	6/2/2006		9/19/2007	253,369.48	162,047.05	-	60
83	SLM 2012-2	1/31/2012	Stafford	99.200	Other	Repayment	FALSE	11/17/2008		11/14/2010	2,816,041.94	2,728,534.47	-	959
84	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Repayment	FALSE	10/23/2008		5/5/2010	880,611.76	747,991.65	-	264
85	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Repayment	FALSE	10/25/2008		10/2/2009	401,761.35	287,237.12	-	140
86	SLM 2012-2	1/31/2012	Stafford	42.304	Other	Repayment	FALSE	3/18/2007		3/30/2009	87,500.00	64,415.72	-	12
87	SLM 2012-2	1/31/2012	Stafford	37.224	Other	Repayment	FALSE	3/17/2007		1/11/2009	24,252.00	20,753.72	-	8
88	SLM 2012-2	1/31/2012	Stafford	46.982	Other	Repayment	FALSE	1/18/2008		5/11/2010	86,657,076.42	94,158,322.77	-	23,911
89	SLM 2012-2	1/31/2012	Stafford	47.024	Other	Repayment	FALSE	1/20/2008		12/9/2009	27,735,339.08	25,042,703.09	-	6,781
90	SLM 2012-2	1/31/2012	Stafford	49.252	Other	Repayment	FALSE	1/4/2008		5/8/2009	32,682,665.95	26,081,192.74	-	7,917
91	SLM 2012-2	1/31/2012	Stafford	49.053	Other	Repayment	FALSE	12/3/2007		10/8/2008	8,561,010.28	5,875,713.85	-	2,545
92	SLM 2012-2	1/31/2012	Stafford	49.797	Other	Repayment	FALSE	6/17/2007		4/9/2010	71,065,305.47	78,945,464.58	-	17,799
93	SLM 2012-2	1/31/2012	Stafford	52.648	Other	Repayment	FALSE	6/7/2007		11/14/2009	30,819,867.96	28,945,103.19	-	6,845
94	SLM 2012-2	1/31/2012	Stafford	22.404	Other	Repayment	FALSE	5/1/2007		11/3/2009	56,334.00	60,094.54	-	5
95	SLM 2012-2	1/31/2012	Stafford	50.849	Other	Repayment	FALSE	6/6/2007		4/20/2009	38,949,577.58	32,807,105.56	-	7,875
96	SLM 2012-2	1/31/2012	Stafford	50.126	Other	Repayment	FALSE	4/28/2007		8/26/2008	23,965,682.05	17,812,723.06	-	5,081
97	SLM 2012-2	1/31/2012	Stafford	52.384	Other	Repayment	FALSE	9/17/2006		10/27/2007	1,811,670.95	1,077,024.53	-	459
98	SLM 2012-2	1/31/2012	Stafford	48.092	Other	Repayment	FALSE	5/31/2005		12/16/2008	6,912,596.54	7,695,909.07	-	1,868
99	SLM 2012-2	1/31/2012	Stafford	48.942	Other	Repayment	FALSE	1/12/2005		6/18/2006	791,793.94	389,675.90	-	126
100	SLM 2012-2	1/31/2012	Stafford	51.078	Other	Repayment	FALSE	6/5/2005		11/18/2008	3,617,975.76	3,527,955.62	-	983
101	SLM 2012-2	1/31/2012	Stafford	49.607	Other	Repayment	FALSE	6/2/2005		9/14/2008	4,012,657.19	3,489,317.49	-	1,031
102	SLM 2012-2	1/31/2012	Stafford	46.134	Other	Repayment	FALSE	6/6/2005		2/25/2008	4,114,049.95	3,286,543.41	-	833
103	SLM 2012-2	1/31/2012	Stafford	51.389	Other	Repayment	FALSE	5/9/2005		5/12/2007	1,987,722.24	1,289,372.54	-	378
104	SLM 2012-2	1/31/2012	Stafford	45.609	Other	Forbearance	FALSE	5/28/2006	6/13/2012	1/4/2009	938,686.54	1,043,391.63	12,739.84	212
105	SLM 2012-2	1/31/2012	Stafford	53.054	Other	Forbearance	FALSE	5/30/2006	8/15/2012	12/12/2007	58,772.00	53,307.00	459.79	13
106	SLM 2012-2	1/31/2012	Stafford	52.640	Other	Forbearance	FALSE	5/15/2006	5/1/2012	6/5/2008	51,357.00	49,055.49	484.54	10
107	SLM 2012-2	1/31/2012	Stafford	19.725	Other	Forbearance	FALSE	5/23/2006	6/23/2012	5/27/2007	16,938.00	15,605.04	213.15	6
108	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Forbearance	FALSE	11/19/2008	5/13/2012	6/29/2010	994,713.15	979,929.83	29,213.93	349
109	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Forbearance	FALSE	10/15/2008	5/14/2012	8/17/2009	18,992.00	17,798.01	470.30	7
110	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Forbearance	FALSE	1/13/2009	2/11/2012	8/13/2009	750.00	601.90	4.79	1
111	SLM 2012-2	1/31/2012	Stafford	0.000	Other	Forbearance	FALSE	8/14/2007	8/5/2012	4/2/2010	5,500.00	6,539.49	588.68	1
112	SLM 2012-2	1/31/2012	Stafford	44.606	Other	Forbearance	FALSE	1/19/2008	5/31/2012	1/25/2010	45,817,723.99	50,393,937.81	1,634,251.60	11,455
113	SLM 2012-2	1/31/2012	Stafford	47.412	Other	Forbearance	FALSE	1/9/2008	6/4/2012	5/14/2009	2,303,543.73	2,199,077.30	60,061.59	627
114	SLM 2012-2	1/31/2012	Stafford	49.707	Other	Forbearance	FALSE	12/22/2007	5/30/2012	12/25/2008	637,614.00	535,056.93	13,940.32	181
115	SLM 2012-2	1/31/2012	Stafford	23.750	Other	Forbearance	FALSE	12/23/2007	5/19/2012	8/7/2008	31,487.00	24,505.06	354.98	13
116	SLM 2012-2	1/31/2012	Stafford	45.666	Other	Forbearance	FALSE	6/3/2007	6/5/2012	10/21/2009	37,568,986.21	42,652,403.53	1,388,636.26	8,202
117	SLM 2012-2	1/31/2012	Stafford	48.925	Other	Forbearance	FALSE	5/15/2007	6/1/2012	2/17/2009	2,829,513.71	2,870,171.65	93,917.08	645
118	SLM 2012-2	1/31/2012	Stafford	46.597	Other	Forbearance	FALSE	4/17/2007	5/20/2012	10/21/2008	1,405,591.63	1,264,300.65	34,172.06	303
119	SLM 2012-2	1/31/2012	Stafford	39.921	Other	Forbearance	FALSE	1/15/2007	6/18/2012	1/9/2008	196,560.00	169,266.38	3,711.75	48
120	SLM 2012-2	1/31/2012	Stafford	100.000	Other	Forbearance	FALSE	9/12/2006	6/23/2012	11/17/2007	3,500.00	1,683.81	11.29	1
121	SLM 2012-2	1/31/2012	Stafford	45.182	Other	Forbearance	FALSE	5/25/2005	5/25/2012	8/19/2008	4,738,304.34	5,375,690.18	68,302.63	1,078
122	SLM 2012-2	1/31/2012	Stafford	48.331	Other	Forbearance	FALSE	4/18/2005	5/28/2012	1/15/2008	511,760.04	532,124.99	7,522.86	135
123	SLM 2012-2	1/31/2012	Stafford	41.324	Other	Forbearance	FALSE	5/6/2005	6/6/2012	9/11/2007	268,697.33	250,355.41	2,694.14	64
124	SLM 2012-2	1/31/2012	Stafford	46.109	Other	Forbearance	FALSE	6/11/2005	6/15/2012	2/11/2007	133,808.00	113,518.26	924.11	30
125	SLM 2012-2	1/31/2012	Stafford	55.603	Other	Forbearance	FALSE	2/22/2005	6/1/2012	5/15/2006	41,764.00	25,997.14	336.07	7
126	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	1/31/2008		1/31/2008	9,783.00	12,711.98	-	1
127	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	10/4/2007		10/4/2007	12,000.00	15,198.81	-	1
128	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	9/17/2007		9/17/2007	11,000.00	12,617.96	-	1
129	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	12/5/2007		12/5/2007	21,952.00	20,462.84	-	4
130	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	3/11/2008		3/11/2008	3,500.00	3,638.89	-	1
131	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	1/13/2008		1/13/2008	15,515.00	14,993.31	-	3
132	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	12/26/2007		12/26/2007	49,267.00	29,856.80	-	8
133	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	6/25/2007		6/25/2007	22,066.00	29,281.58	-	3
134	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	8/20/2007		8/20/2007	35,434.00	40,618.40	-	4
135	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	8/16/2007		8/16/2007	18,255.00	17,138.99	-	3
136	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	5/31/2007		5/31/2007	30,113.00	26,266.65	-	4
137	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	TRUE	6/13/2007		6/13/2007	7,750.00	4,691.40	-	2
138	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	10/1/2007	2/1/2012	10/1/2007	10,000.00	12,625.01	817.65	1
139	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	3/29/2008	2/26/2013	3/29/2008	2,596,032.00	2,863,716.69	395,205.93	346
140	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	2/22/2008	2/27/2013	2/22/2008	230,907.00	208,665.01	12,607.27	31
141	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	12/4/2007	9/4/2012	12/4/2007	206,192.38	186,925.50	7,645.44	27
142	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	11/28/2007	10/8/2012	11/28/2007	48,198.00	35,813.14	632.22	7
143	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	6/4/2007	3/27/2013	6/4/2007	1,539,637.72	1,768,657.62	230,474.54	197
144	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	7/16/2007	4/23/2013	7/16/2007	401,754.00	398,777.89	22,459.48	47
145	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	7/4/2007	4/18/2013	7/4/2007	483,511.00	412,920.20	22,468.94	43
146	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	8/4/2007	5/20/2013	8/4/2007	173,825.00	137,760.19	2,782.31	18
147	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	8/26/2006	1/18/2013	8/26/2006	20,830.00	11,700.99	26.95	2
148	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	5/26/2005	10/14/2013	5/26/2005	22,375.00	29,763.27	851.55	3
149	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	8/22/2005	1/8/2013	8/22/2005	19,883.00	11,341.92	9.90	2
150	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	8/5/2005	12/28/2012	8/5/2005	27,437.00	13,060.64	73.74	3
151	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	9/22/2004	3/4/2013	9/22/2004	47,806.00	30,466.42	181.65	3
152	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Deferment	FALSE	8/10/2005	5/12/2012	8/10/2005	18,751.00	13,827.29	172.33	3
153	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	2/21/2008		2/21/2008	757,847.18	939,927.80	-	108
154	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	2/4/2008		2/4/2008	660,339.00	727,257.06	-	85
155	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	5/11/2008		5/11/2008	215,385.00	213,435.61	-	25
156	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	1/22/2008		1/22/2008	517,641.66	468,871.52	-	56
157	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	6/27/2007		6/27/2007	486,511.32	539,271.52	-	45
158	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	7/13/2007		7/13/2007	292,642.00	289,431.70	-	29
159	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	8/28/2007		8/28/2007	182,726.00	173,896.59	-	16
160	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	7/28/2007		7/28/2007	507,639.00	471,001.55	-	39
161	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	1/11/2006		1/11/2006	14,082.00	18,252.48	-	1
162	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	8/15/2005		8/15/2005	13,634.00	16,415.70	-	1
163	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	9/12/2005		9/12/2005	5,855.00	6,795.41	-	1
164	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	5/31/2006		5/31/2006	8,187.00	7,801.90	-	1
165	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	5/20/2006		5/20/2006	38,471.00	21,194.16	-	5
166	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	6/29/2006		6/29/2006	8,871.00	9,014.18	-	1
167	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	6/1/2006		6/1/2006	5,618.00	4,799.31	-	2
168	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	5/29/2006		5/29/2006	19,764.00	10,463.10	-	4
169	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	10/5/2007		10/5/2007	5,000.00	5,483.83	-	1
170	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	8/14/2007		8/14/2007	5,000.00	3,380.80	-	1
171	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	2/18/2008		2/18/2008	3,129,671.91	3,753,197.71	-	446
172	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	2/22/2008		2/22/2008	2,167,657.50	2,158,603.38	-	293
173	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	2/24/2008		2/24/2008	4,561,310.50	3,731,755.62	-	553
174	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	12/25/2007		12/25/2007	14,363,720.44	9,769,676.66	-	1,715
175	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	11/2/2007		11/2/2007	609,348.48	394,059.94	-	92
176	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	6/6/2007		6/6/2007	2,282,029.92	2,906,764.32	-	252
177	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	9/13/2006		9/13/2006	230,989.67	126,395.52	-	26
178	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	6/18/2007		6/18/2007	1,853,862.28	1,938,465.56	-	195
179	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	6/21/2007		6/21/2007	3,814,838.19	3,448,098.29	-	373
180	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	8/12/2007		8/12/2007	22,721,754.47	15,541,004.12	-	2,078
181	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	12/22/2006		12/22/2006	7,926,540.37	4,864,297.05	-	855
182	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	1/20/2005		1/20/2005	100,040.00	142,466.83	-	7
183	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	6/5/2005		6/5/2005	2,044,172.56	924,101.68	-	181
184	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	4/24/2005		4/24/2005	231,195.00	174,316.81	-	27
185	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	4/6/2005		4/6/2005	357,072.00	287,188.01	-	31
186	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	6/1/2005		6/1/2005	382,571.00	320,156.60	-	33
187	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Repayment	FALSE	3/19/2005		3/19/2005	494,347.00	347,538.00	-	45
188	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	8/10/2007	3/24/2012	8/10/2007	12,000.00	16,017.48	84.20	1
189	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	2/2/2008	7/22/2012	2/2/2008	3,334,844.54	4,161,338.26	40,569.48	451
190	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	1/1/2008	10/7/2012	1/1/2008	799,620.00	855,856.83	6,343.99	106
191	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	12/23/2007	9/6/2012	12/23/2007	494,812.46	453,592.45	3,586.14	59
192	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	12/11/2007	10/4/2012	12/11/2007	281,978.64	227,918.72	1,984.62	34
193	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	5/20/2007	8/10/2012	5/21/2007	2,383,521.10	3,026,900.86	30,451.25	264
194	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	6/26/2007	1/12/2013	6/26/2007	1,150,149.74	1,179,895.48	10,449.54	108
195	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	7/24/2007	11/1/2012	7/24/2007	793,479.59	754,224.89	5,464.91	82
196	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	6/17/2007	9/5/2012	6/17/2007	556,763.00	428,676.91	3,176.24	50
197	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	10/15/2006	8/16/2012	10/15/2006	85,790.00	60,656.46	582.66	7
198	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	2/1/2005	5/1/2012	2/1/2005	42,385.00	54,137.03	130.81	4
199	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	4/29/2005	8/17/2012	4/29/2005	63,972.00	46,380.68	128.40	7
200	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	9/20/2005	4/14/2012	9/20/2005	20,200.00	24,477.45	67.76	2
201	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	1/16/2005	4/28/2012	1/16/2005	63,292.00	71,516.78	195.38	7
202	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	12/28/2004	5/25/2012	12/28/2004	17,157.00	14,484.68	40.10	2
203	SLM 2012-2	1/31/2012	PLUS	0.000	Other	Forbearance	FALSE	9/12/2005	8/5/2012	9/12/2005	17,573.00	10,846.98	30.03	1

Id	Borrowers	PmtsMade	RemTerm	RemIOPayment	RiskShare (%)	ConsolFee (%)	FloorIncomeRebate	Coupon (%)	BorrMarginInterim (%)	BorrMarginRepay (%)	BorrCap (%)	BorrIndex	SAPMarginInterim (%)	SAPMarginRepay (%)	SAPIndex
1	8.50	8	109	26	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
2	7.33	17	116	9	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
3	5.75	9	165	26	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
4	1.67	21	99	11	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
5	0.75	8	292	16	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
6	3.39	9	109	-	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
7	0.20	13	107	-	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
8	17.20	7	101	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
9	0.50	18	102	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
10	343.35	7	112	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
11	31.20	17	102	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
12	13.25	29	80	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
13	5.00	39	75	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
14	167.05	7	111	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
15	23.25	18	102	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
16	11.00	30	84	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
17	2.50	37	83	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
18	1.00	49	71	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
19	9.57	9	106	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
20	7.12	16	96	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
21	1.00	26	94	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
22	21.06	-	120	-	2.000	0.000	TRUE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
23	295.10	-	120	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
24	4.00	-	120	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.740	2.340	3 Mo CP
25	4,659.29	-	120	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
26	3,928.33	-	120	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
27	236.27	-	120	-	2.000	0.000	FALSE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
28	8.07	-	120	-	2.000	0.000	TRUE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
29	80.56	-	116	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
30	4.75	-	116	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.740	2.340	3 Mo CP
31	1,744.79	-	119	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
32	1,201.09	-	119	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
33	71.52	-	118	-	2.000	0.000	FALSE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
34	58.93	2	120	-	2.000	0.000	TRUE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
35	8.31	18	166	-	2.000	0.000	TRUE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
36	4.02	32	158	-	2.000	0.000	TRUE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
37	0.50	43	43	-	2.000	0.000	TRUE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
38	315.23	1	111	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
39	21.03	18	94	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
40	2.25	29	81	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
41	16.75	1	114	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.740	2.340	3 Mo CP
42	8,291.71	1	119	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
43	606.86	18	106	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
44	212.82	29	117	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
45	15.87	38	91	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
46	6,061.99	1	121	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
47	734.44	18	120	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
48	305.81	30	102	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
49	44.30	39	123	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
50	2.50	50	70	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
51	541.69	2	119	-	2.000	0.000	FALSE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
52	4.00	67	53	-	2.000	0.000	FALSE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
53	102.98	17	134	-	2.000	0.000	FALSE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
54	63.17	31	119	-	2.000	0.000	FALSE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
55	21.58	41	112	-	2.000	0.000	FALSE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
56	7.50	53	66	-	2.000	0.000	FALSE	1.760	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
57	9.37	7	152	27	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
58	6.83	20	115	10	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
59	2.33	33	196	15	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
60	2.28	40	146	8	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
61	31.53	5	124	21	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
62	13.20	18	121	12	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
63	1.42	28	92	20	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
64	1.00	5	115	19	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.740	2.340	3 Mo CP
65	0.50	13	107	11	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.740	2.340	3 Mo CP
66	1,446.39	5	134	23	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
67	751.16	18	133	12	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
68	159.30	30	122	15	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
69	56.80	38	121	10	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
70	977.39	5	140	23	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
71	612.05	17	134	13	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
72	176.60	30	129	16	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
73	97.58	39	116	9	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
74	64.69	5	158	22	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
75	61.07	18	138	14	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
76	24.07	30	140	16	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
77	11.64	42	127	6	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
78	68.68	4	120	-	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
79	26.09	17	133	-	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
80	39.63	32	131	-	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
81	49.19	43	185	-	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
82	27.14	51	112	-	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
83	514.18	3	108	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
84	143.51	17	104	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
85	65.11	26	100	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
86	5.00	4	114	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.740	2.340	3 Mo CP
87	3.00	22	92	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.740	2.340	3 Mo CP
88	12,484.65	3	118	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
89	3,897.57	18	116	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
90	4,445.62	30	104	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
91	1,521.52	38	99	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
92	8,775.40	3	120	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
93	3,637.31	18	121	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
94	1.00	206	94	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
95	3,968.56	29	116	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
96	2,553.28	39	120	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
97	234.84	50	104	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
98	590.31	5	120	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
99	83.00	65	77	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
100	363.51	18	116	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
101	373.19	29	107	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
102	294.05	41	126	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
103	178.22	52	97	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
104	51.86	2	136	-	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
105	6.06	17	105	-	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
106	3.28	28	170	-	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
107	1.48	38	82	-	2.000	0.000	TRUE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
108	165.68	1	113	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
109	2.93	17	125	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
110	0.50	27	93	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.190	1.790	3 Mo CP
111	1.00	-	120	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.740	2.340	3 Mo CP
112	5,457.13	1	124	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
113	315.95	18	120	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
114	97.66	29	101	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
115	6.33	38	149	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.190	1.790	3 Mo CP
116	3,356.60	1	127	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
117	264.19	18	123	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
118	122.86	29	118	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
119	18.05	40	162	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
120	1.00	49	71	-	3.000	0.000	TRUE	6.800	6.800	6.800	6.800	Fixed Rate	1.740	2.340	3 Mo CP
121	312.62	2	125	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
122	43.33	18	133	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
123	23.95	29	103	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
124	10.60	41	123	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
125	5.00	52	67	-	2.000	0.000	FALSE	2.360	1.700	2.300	8.250	3Mo T Bill	1.740	2.340	3 Mo CP
126	1.00	8	112	40	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
127	1.00	16	104	32	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
128	1.00	18	102	6	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
129	2.53	7	95	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
130	1.00	21	78	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
131	3.00	30	85	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
132	6.00	44	75	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
133	2.33	10	110	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
134	4.00	19	101	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
135	2.00	32	88	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
136	4.00	42	78	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
137	1.00	52	58	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
138	0.33	-	120	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.790	1.790	3 Mo CP
139	226.38	1	119	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
140	23.67	17	117	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
141	20.26	30	135	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
142	6.50	41	78	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
143	116.86	2	121	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
144	39.67	19	109	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
145	34.17	31	132	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
146	12.67	41	115	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
147	0.83	51	69	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
148	1.83	6	114	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
149	0.83	63	57	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
150	2.00	26	94	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
151	1.83	37	211	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
152	2.50	52	65	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
153	70.22	5	152	25	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
154	56.39	18	140	11	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
155	18.00	31	119	14	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
156	44.90	43	110	5	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
157	30.93	6	151	22	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
158	23.79	19	117	7	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
159	13.70	31	117	14	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
160	30.08	45	120	3	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
161	1.00	11	289	13	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
162	1.00	13	107	11	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
163	1.00	31	89	17	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
164	0.50	10	110	-	2.000	0.000	TRUE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
165	3.17	64	94	-	2.000	0.000	TRUE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
166	0.33	34	266	-	2.000	0.000	TRUE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
167	1.00	41	75	-	2.000	0.000	TRUE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
168	2.50	56	63	-	2.000	0.000	TRUE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
169	0.50	9	111	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	1.790	1.790	3 Mo CP
170	0.50	9	111	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	2.640	2.640	3 Mo CP
171	313.15	4	123	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
172	225.19	18	128	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
173	430.00	31	111	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
174	1,490.68	44	89	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
175	74.92	49	88	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
176	182.85	5	130	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
177	19.45	62	62	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
178	147.70	18	129	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
179	284.95	31	122	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
180	1,824.69	46	95	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
181	648.86	55	95	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
182	5.00	7	183	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
183	130.41	72	62	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
184	13.75	18	117	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
185	20.00	30	102	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
186	22.25	42	97	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
187	29.67	55	132	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
188	1.00	-	120	-	3.000	0.000	TRUE	6.000	6.000	6.000	6.000	Fixed Rate	2.640	2.640	3 Mo CP
189	322.21	2	122	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
190	77.51	18	119	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
191	50.83	30	102	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
192	27.17	40	94	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	1.790	1.790	3 Mo CP
193	178.83	3	127	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
194	86.50	18	128	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
195	65.25	31	110	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
196	41.08	42	89	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
197	5.17	50	127	-	3.000	0.000	TRUE	8.500	8.500	8.500	8.500	Fixed Rate	2.640	2.640	3 Mo CP
198	2.70	2	159	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
199	3.67	68	147	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
200	0.67	22	98	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
201	3.67	30	90	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
202	2.00	43	77	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP
203	1.00	56	64	-	2.000	0.000	FALSE	3.160	3.100	3.100	9.000	3Mo T Bill	2.640	2.640	3 Mo CP

SLM Student Loan Trust 2012-2

Issuing Entity

$799,000,000 Floating Rate Class A Student Loan-Backed Notes

$25,000,000 Floating Rate Class B Student Loan-Backed Notes

SLM Funding LLC

Depositor

Sallie Mae, Inc.

Sponsor, Servicer and Administrator

_____________

Joint Book-Runners

Barclays Capital

RBC Capital Markets

_____________

Co-Manager

RBS

_____________

February 29, 2012