2008-06-04 23:38:26 -

- Fitch Ratings affirms 7 classes from the following Federal Family Education Loan Program (FFELP) student loan asset-backed notes issued by the Student Loan Corporation (SLC):

SLC Student Loan Trust 2007-1

--Class A-1 at 'AAA';

--Class A-2 at 'AAA';

--Class A-3 at 'AAA';

--Class A-4 at 'AAA';

--Class A-5 at 'AAA';

--Class B

at 'AA+';

--Class C at 'A+'.

The collateral supporting the bonds consists of federally guaranteed loans originated under the Federal Family Education Loan Program (FFELP). FFELP loans are guaranteed by an eligible guarantor to at least 97% of principal and accrued interest, depending on loan origination date. The FFELP loans are also reinsured by the U.S. Department of Education up to the same amounts and serviced by SLC.

Overall, collateral performance for the trust has been consistent with expectations from a net default and delinquency perspective. Parity ratios, or the ratio of assets to liabilities, have remained stable due to positive levels of excess spread generated.

Credit enhancement consists of excess spread, overcollateralization, and liquidity in the form of a reserve account and capitalized interest account. Additionally, the class A and B notes benefit from subordination provided by the respective lower priority notes. The excess spread generated by the trust has been sufficient to cover any losses and pay note principal to build credit enhancement.

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Stefanie Leung, 212-908-0826
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