Fitch Affirms Senior and Subordinate Notes of SLM Student Loan Trust, Series 2007-3

NEW YORK--(BUSINESS WIRE)--Fitch Ratings affirms both the senior notes at 'AAAsf' and subordinate student loan note at 'A-sf' issued by SLM Student Loan Trust series 2007-3. The Rating Outlook remains Negative for the senior classes and Stable for the subordinate class.

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

The ratings on the senior and subordinate notes are affirmed based on the sufficient level of credit to cover the applicable risk factor stresses. Credit enhancement for the senior and subordinate notes consists of overcollateralization and projected minimum excess spread, while the senior notes also benefit from subordination provided by the class B note. Fitch has taken the following rating actions:

SLM Student Loan Trust, Series 2007-3:

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

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

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

--Class B affirmed at 'A-sf'; 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' dated Aug. 4, 2011;

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

--'U.S. FFELP Student Loan ABS Surveillance Criteria' dated 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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