Note: By using this page, you agree to the Investor Relations terms of use.

$200,000,000 Class A-1 Senior Notes
$335,000,000 Class A-2 Senior Notes
$160,000,000 Class A-3 Senior Notes
$246,000,000 Class A-4 Senior Notes
$373,300,000 Class A-5 Senior Notes
$40,700,000 Class B Subordinate Notes

Date of Issue: July 20, 2004

Issue Amount: $1,355,000,000

Securities Offered:

Class A-1 Senior Notes in the aggregate principal amount of
$200,000,000
Floating Rate: Three-Month LIBOR + 0.00%
CUSIP: 64031Q AY 7
ISIN NUMBER: US64031QAY70

Class A-2 Senior Notes in the aggregate principal amount of
$335,000,000
Floating Rate: Three-Month LIBOR + 0.03%
CUSIP: 64031Q AZ 4
ISIN NUMBER: US64031QAZ46

Class A-3 Senior Notes in the aggregate principal amount of
$160,000,000
Floating Rate: Three-Month LIBOR + 0.09%
CUSIP: 64031Q BA 8
ISIN NUMBER: US64031QBA85

Class A-4 Senior Notes in the aggregate principal amount of
$246,000,000
Floating Rate: Three-Month LIBOR + 0.15%
CUSIP: 64031Q BB 6
ISIN NUMBER: US60431QBB68

Class A-5 Senior Notes in the aggregate principal amount of
$373,300,000
Floating Rate: Three-Month LIBOR + 0.18%
CUSIP: 64031Q BC 4
ISIN NUMBER: US60431QBC42

Class B Subordinate Notes in the aggregate principal amount of
$40,700,000
Floating Rate: Three-Month LIBOR + 0.35%
CUSIP: 64031Q BE 0
ISIN NUMBER: US64031QBE08

Master Servicer: National Education Loan Network, Inc.

Administrator: National Education Loan Network, Inc.

Eligible Lender and Indenture Trustee: Wells Fargo Bank, National Association

Underwriters:

Banc of America Securities LLC
Deutsche Bank Securities
Mellon Financial Markets, LLC
Merrill Lynch & Co.
RBC Dain Rauscher

Rating:

Senior Series 2004-3 A-1Notes, A-2 Notes, A-3 Notes, A-4 Notes, and A-5 Notes
AAA Fitch Ratings
Aaa Moody's Investor Service
AAA Standard & Poor's

Subordinate Series 2004-3 B Notes
AAA Fitch Ratings
Aa1 Moody's Investor Service
AA Standard & Poor's