Fitch Affirms The Senior and Subordinate Notes of SLM Student Loan Trust 2008-7

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed the senior and subordinates notes issued by SLM Student Loan Trust 2008-7 as follows:

--Senior notes at 'AAAsf'; Outlook Negative;

--Subordinate notes at 'Asf'; Outlook Stable.

Fitch used its 'Global Structured Finance Rating Criteria,' 'U.S. FFELP Student Loan ABS Rating Criteria', and 'Rating U.S. Federal Family Education Loan Program Student Loan ABS' to review the ratings.

Affirmation of the senior and subordinate notes are based on the sufficient level of enhancement, any combination of overcollateralization, subordination, and projected minimum excess spread to cover the applicable risk factor stresses.

Fitch affirms SLM Student Loan Trust 2008-7 as follows:

--Class A-1 at 'AAAsf'; Outlook Negative;

--Class A-2 at 'AAAsf'; Outlook Negative;

--Class A-3 at 'AAAsf'; Outlook Negative;

--Class A-4 at 'AAAsf'; Outlook Negative;

--Class B at 'Asf'; Outlook Stable.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (Aug. 4, 2011);

--'Rating U.S. Federal Family Education Loan Program Student Loan ABS' (April 7, 2011);

--'U.S. FFELP Student Loan ABS Surveillance Criteria' (May 10, 2011).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646569

Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=616766

U.S. FFELP Student Loan ABS Surveillance Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=597566

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