UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-D

ASSET-BACKED ISSUER

DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from

February 25, 2008 to March 24, 2008

Commission File Number of issuing entity: 333-141132-03

The National Collegiate Student Loan Trust 2007-3

(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor and sponsor: 333-141132

The National Collegiate Funding LLC

(Exact name of depositor and sponsor as specified in its charter)


Delaware (State or other jurisdiction of incorporation or organization of the issuing entity)		92-0195957 65-1177163 (I.R.S. Employer Identification Nos.)


c/o Wilmington Trust Company 1100 North Market Street Wilmington, Delaware (Address of principal executive offices of issuing entity)		19890 (Zip Code)

(302) 636−6000

(Telephone number including area code)

Not Applicable

(Former name, former address, if changed since last report)

Registered/reporting pursuant to (check one)

				Name of exchange
Title of class	Section 12(b)	Section 12(g)	Section 15(d)	(If Section 12(b))

Class A-1 L Notes	o	o	þ
Class A-2-AR-1 Notes	o	o	þ
Class A-2-AR-2 Notes	o	o	þ
Class A-2-AR-3 Notes	o	o	þ
Class A-2-AR-4 Notes	o	o	þ
Class A-3-L Notes	o	o	þ
Class A-3-AR-1 Notes	o	o	þ
Class A-3-AR-2 Notes	o	o	þ
Class A-3-AR-3 Notes	o	o	þ
Class A-3-AR-4 Notes	o	o	þ
Class A-3-AR-5 Notes	o	o	þ
Class A-3-AR-6 Notes	o	o	þ
Class A-3-AR-7 Notes	o	o	þ
Class A-IO Notes	o	o	þ

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes þ No o

PART I – DISTRIBUTION INFORMATION

Item 1. Distribution and Pool Performance Information.

Attached hereto is a copy of the monthly distribution report to the noteholders and certificateholders which was derived from the monthly information submitted by the servicer of the student loans owned by the trust to the indenture trustee and grantor trustee.

PART II – OTHER INFORMATION

Item 2. Legal Proceedings. None.

Item 3. Sales of Securities and Use of Proceeds. None.

Item 4. Defaults Upon Senior Securities. None.

Item 5. Submission of Matters to a Vote of Security Holders. None.

Item 6. Significant Obligors of Pool Assets. None.

Item 7. Significant Enhancement Provider Information.

The consolidated financial statements of Ambac Assurance Corporation and its subsidiaries (“Ambac”) are incorporated herein by reference from Exhibit 99.01 of the Annual Report on Form 10-K filed by Ambac Financial Group, Inc. (File No. 1-10777) with the Securities and Exchange Commission (the “SEC”) on February 29, 2008. You should be aware that any such financial statements may be modified or superseded by a document filed with the SEC at a later date. You should not assume that information concerning Ambac is accurate as of any date other than the date that such Form 10-K was filed with the SEC.

Item 8. Other Information.

Item 9. Exhibits.

99.1	Monthly Distribution Report to the Noteholders and Certificateholders distributed on March 25, 2008.

99.2	Copy of the consolidated financial statements of Ambac Assurance Corporation and its subsidiaries (incorporated herein by reference from Exhibit 99.01 of the Annual Report on Form 10-K filed by Ambac Financial Group, Inc. (File No. 1-10777) with the SEC on February 29, 2008).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

NATIONAL COLLEGIATE FUNDING LLC, as depositor for

THE NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-3

By:

GATE HOLDINGS, INC., Member

By:

/s/ Jerry M. Hamstead

Name:

Jerry M. Hamstead

Title:

Vice President

Dated: March 25, 2008

EXHIBIT INDEX

Exhibit Number		Description

99.1		Monthly Distribution Report to the Noteholders and Certificateholders distributed on March 25, 2008.

99.2		Copy of the consolidated financial statements of Ambac Assurance Corporation and its subsidiaries (incorporated herein by reference from Exhibit 99.01 of the Annual Report on Form 10-K filed by Ambac Financial Group, Inc. (File No. 1-10777) with the SEC on February 29, 2008).

National Collegiate Student Loan Trust 2007-3 10-D