2009-11-11 22:52:01 -

Fitch Ratings affirms and assigns a Stable Rating Outlook to the senior student loan notes of the Pennsylvania Higher Education Assistance Agency (PHEAA) series 2006-2 Trust. The trust has been producing excess spread, and the parity for the senior notes are at 104.69% as of Sept.
30, 2009 and increasing. A complete list of rating actions follows at the end

of this press release.

Fitch's Global Structured Finance Rating Criteria were used to review the ratings and the affirmation is based on the performance of the trust in-line with the expectation. The existence of auction rate securities has not had a significant impact on the trust performance. The Stable Outlook is based on Fitch's expectation that with the significant buildup of parity for the senior notes the ratings will remain stable for the next two years. The subordinate student loan notes, which are currently rated 'A', will be reviewed separately upon the completion of the updated basis risk analysis.

The collateral supporting the PHEAA series 2006-2 Trust notes consist entirely of federally guaranteed student loans originated under the Federal Family Education Loan Program (FFELP). FFELP loans are guaranteed at least 97% of principal and accrued interest, depending on the loan origination date. The loans are 100% serviced by AES, which does not carry a Fitch Seller/Servicer Rating.

Fitch affirms the ratings and assigns Outlooks to the following senior classes of Pennsylvania Higher Education Assistance Agency series 2006-2 Trust notes.

--Senior class A-1 at 'AAA'; Outlook Stable;

--Senior class A-2 at 'AAA'; Outlook Stable;

--Senior class A-3 at 'AAA'; Outlook Stable.

The following applicable criteria report is available on Fitch's web site at ' www.fitchratings.com : '.

'Global Structured Finance Rating Criteria' dated Sept. 30, 2009.

Additional information is available at ' www.fitchratings.com : '.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS : .

IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE ' WWW.FITCHRATINGS.COM : '.

PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Fitch Ratings, New YorkPaul Landerman, 212-908-0876Aoto
Kenmochi, 212-908-0867orMedia Relations:Sandro Scenga,
212-908-0278Email: sandro.scenga@fitchratings.com : mailto:sandro.scenga@fitchratings.com