Fitch Rates SLM Student Loan Trust 2013-1

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has assigned the following ratings and Rating Outlooks to the SLM Student Loan Trust 2013-1, student loan-backed notes:

--$280,000,000 floating rate class A-1 notes, 'AAAsf'; Outlook Negative;

--$396,000,000 floating rate class A-2 notes, 'AAAsf'; Outlook Negative;

--$538,000,000 floating rate class A-3 notes, 'AAAsf'; Outlook Negative ;

--$35,000,000 floating rate class B notes, 'A+sf'; Outlook Stable.

Fitch's stress analysis is discussed in the presale titled 'SLM Student Loan Trust 2013-1', dated Feb. 4, 2013.

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:

--'SLM Student Loan Trust 2013-1' (February 4, 2013);

--'Global Structured Finance Rating Criteria' (June 6, 2012);

--'Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria' (April 3, 2012).

Applicable Criteria and Related Research:

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

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=675202

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

SLM Student Loan Trust 2013-1 (US ABS)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=700255

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