SLM Student Loan Trust 2001-2 Quarterly Servicing Report

Collection Period 04/01/2005 - 06/30/2005 Distribution Date 07/25/2005

Indenture Trustee: Deutsche Bank

I. Deal Parameters



A	Student Loan Portfolio Characteristics		06/07/2001			03/31/2005			06/30/2005

	Principal Balance		$	1,484,420,185.51		$	407,903,412.94		$	354,165,815.94
	Interest to be Capitalized Balance			16,921,768.59			2,400,770.09			1,981,774.00

	Pool Balance		$	1,501,341,954.10		$	410,304,183.03		$	356,147,589.94
	Specified Reserve Account Balance			3,753,355.00			- N/A -			- N/A -

	Adjusted Pool (1)		$	1,505,095,309.10		$	410,304,183.03		$	356,147,589.94

	Weighted Average Coupon (WAC)			8.37	%		3.98	%		3.99	%
	Weighted Average Remaining Term			109.16			92.72			91.44
	Number of Loans			425,309			152,461			136,787
	Number of Borrowers			154,551			61,288			55,693

	Since Issued CPR						19.51	%		21.15	%

(1)	The Specified Reserve Account balance is included in the Adjusted Pool until the Pool Balance is less than 40% of the original pool.


B	Debt Securities	Cusip/Isin	04/25/2005						07/25/2005

	A1T	78442GCU8	$	—					$	—
	A1L	78442GCT1	$	—					$	—
	A2L	78442GCV6	$	356,548,183.03					$	302,391,589.94
	B	78442GCX2	$	53,756,000.00					$	53,756,000.00


C	Account Balances		04/25/2005						07/25/2005

	Reserve Account Balance		$	1,501,342.00					$	1,501,342.00


D	Asset/Liability		04/25/2005						07/25/2005

	Adjusted Pool Balance		$	410,304,183.03					$	356,147,589.94
	Total Notes		$	410,304,183.03					$	356,147,589.94
	Difference		$	—					$	—

	Parity Ratio			1.00000						1.00000

Page 1 of 9

II. Trust Activity 04/01/2005 through 06/30/2005


A	Student Loan Principal Receipts
		Borrower Principal		12,518,863.11
		Guarantor Principal		5,671,859.60
		Consolidation Activity Principal		37,195,052.44
		Seller Principal Reimbursement		207.31
		Servicer Principal Reimbursement		1,654.55
		Rejected Claim Repurchased Principal		17,964.34
		Other Principal Deposits		1,530.64

		Total Principal Receipts	$	55,407,131.99

B	Student Loan Interest Receipts
		Borrower Interest		1,541,667.21
		Guarantor Interest		243,809.15
		Consolidation Activity Interest		284,563.44
		Special Allowance Payments		1,635,880.78
		Interest Subsidy Payments		465,221.36
		Seller Interest Reimbursement		(232.79	)
		Servicer Interest Reimbursement		24,964.94
		Rejected Claim Repurchased Interest		1,635.64
		Other Interest Deposits		238,631.85

		Total Interest Receipts	$	4,436,141.58

C	Interest Rate Swap Proceeds		$	—

D	Investment Income		$	305,795.45

E	Funds Borrowed from Next Collection Period		$	—

F	Funds Repaid from Prior Collection Period		$	—

G	Loan Sale or Purchase Proceeds		$	—

H	Initial Deposits to Collection Account		$	—

I	Other Deposits		$	165,458.64
	Less: Funds Previously Remitted:
		Servicing Fees	$	(598,475.32	)
		Consolidation Loan Rebate Fees	$	—

		Total Funds Previously Remitted	$	(598,475.32	)


J	AVAILABLE FUNDS		$	59,716,052.34


K	Non-Cash Principal Activity During Collection Period		$	(1,669,534.99	)

L	Non-Reimbursable Losses During Collection Period		$	31.38

M	Aggregate Purchased Amounts by the Depositor, Servicer or Seller		$	19,599.98

N	Aggregate Loan Substitutions		$	—

Trust 2001-2 Quarterly Servicing Report: Collection Period 04/01/2005 — 06/30/2005, Distribution Date 07/25/2005

Page 2 of 9

III. 2001-2 Portfolio Characteristics


		06/30/2005										03/31/2005
		WAC			# Loans		Principal		% of Principal			WAC			# Loans		Principal		% of Principal
INTERIM:	IN SCHOOL		3.94	%		1,205	$	4,437,423.90		1.253	%		3.89	%		1,766	$	6,329,560.09		1.552	%

	GRACE		3.81	%		500	$	1,681,944.71		0.475	%		3.65	%		329	$	1,253,216.16		0.307	%

	DEFERMENT		3.55	%		19,200	$	57,861,742.73		16.337	%		3.54	%		22,878	$	69,661,037.67		17.078	%


REPAYMENT:	CURRENT		4.09	%		80,940	$	171,543,409.78		48.436	%		4.09	%		88,772	$	196,625,665.27		48.204	%

	31-60 DAYS DELINQUENT		4.09	%		5,534	$	15,772,632.60		4.453	%		4.12	%		6,059	$	17,900,009.34		4.388	%

	61-90 DAYS DELINQUENT		4.08	%		3,521	$	10,673,200.98		3.014	%		4.14	%		3,541	$	11,598,939.58		2.844	%

	91-120 DAYS DELINQUENT		4.01	%		2,420	$	7,958,934.87		2.247	%		4.10	%		2,186	$	7,784,111.43		1.908	%

	> 120 DAYS DELINQUENT		4.09	%		7,062	$	23,966,755.04		6.767	%		4.09	%		7,572	$	25,164,782.11		6.169	%


	FORBEARANCE		4.04	%		15,287	$	57,075,507.96		16.115	%		4.05	%		18,063	$	67,444,064.96		16.534	%

	CLAIMS IN PROCESS		4.19	%		1,103	$	3,177,170.81		0.897	%		4.15	%		1,282	$	4,117,037.79		1.009	%

	AGED CLAIMS REJECTED		4.10	%		15	$	17,092.56		0.005	%		4.17	%		13	$	24,988.54		0.006	%



TOTAL						136,787	$	354,165,815.94		100.00	%					152,461	$	407,903,412.94		100.00	%

Percentages may not total 100% due to rounding

Trust 2001-2 Quarterly Servicing Report: Collection Period 04/01/2005 — 06/30/2005, Distribution Date 07/25/2005

Page 3 of 9

IV. 2001-2 Portfolio Characteristics (cont’d)


	06/30/2005			03/31/2005
Pool Balance	$	356,147,589.94		$	410,304,183.03
Total # Loans		136,787			152,461
Total # Borrowers		55,693			61,288
Weighted Average Coupon		3.99	%		3.98	%
Weighted Average Remaining Term		91.44			92.72
Non-Reimbursable Losses	$	31.38		$	6,081.86
Cumulative Non-Reimbursable Losses	$	1,589,410.17		$	1,589,378.79
Since Issued CPR		21.15	%		19.51	%
Loan Substitutions	$	—		$	—
Cumulative Loan Substitutions	$	—		$	—
Rejected Claim Repurchases	$	19,599.98		$	26,733.63
Cumulative Rejected Claim Repurchases	$	332,828.24		$	313,228.26
Cumulative Claims Filed	$	75,665,459.74		$	70,644,818.69
Unpaid Primary Servicing Fees	$	—		$	—
Unpaid Administration Fees	$	—		$	—
Unpaid Carryover Servicing Fees	$	—		$	—
Note Principal Shortfall	$	—		$	—
Note Interest Shortfall	$	—		$	—
Unpaid Interest Carryover	$	—		$	—
Borrower Interest Accrued	$	3,210,111.68		$	3,613,857.87
Interest Subsidy Payments Accrued	$	411,251.34		$	455,575.17
Special Allowance Payments Accrued	$	1,740,127.74		$	1,631,946.79

Trust 2001-2 Quarterly Servicing Report: Collection Period 04/01/2005 — 06/30/2005, Distribution Date 07/25/2005

Page 4 of 9

V. 2001-2 Portfolio Statistics by School and Program


A	LOAN TYPE	WAC			# LOANS		$ AMOUNT		% *

	- GSL - Subsidized		4.00	%		91,949	$	211,634,238.67		59.756	%
	- GSL - Unsubsidized		3.74	%		36,372		114,233,327.81		32.254	%
	- PLUS Loans		4.66	%		5,097		17,817,325.87		5.031	%
	- SLS Loans		5.37	%		3,369		10,480,923.59		2.959	%
	- Consolidation Loans		0.00	%		0		0.00		0.000	%

	Total		3.99	%		136,787	$	354,165,815.94		100.000	%


B	SCHOOL TYPE	WAC			# LOANS		$ AMOUNT			% *

	- Four Year		4.01	%		106,195	$	292,744,110.12			82.657	%
	- Two Year		3.87	%		19,761		39,381,199.65			11.119	%
	- Technical		3.84	%		10,831		22,040,506.17			6.223	%
	- Other		0.00	%		0		0.00			0.000	%

	Total		3.99	%		136,787	$	354,165,815.94			100.000	%

C	Student Loan Rate Calculation

	Borrower Interest Accrued							3,210,111.68
	Interest Subsidy Payments Accrued						$	411,251.34
	Special Allowance Payments Accrued						$	1,740,127.74
	Investment Income						$	305,795.45

	Net Expected Interest Collections						$	5,667,286.21
	Accrual Daycount Fraction							0.252777778
	Primary Servicing Fee						$	880,439.13
	Admin Fee						$	20,000.00
	Swap Fees						$	7,778.68
	Pool Balance at Beginning of Collection Pd						$	410,304,183.03
	Student Loan Rate							4.58857	%

* Percentages may not total 100% due to rounding.

Trust 2001-2 Quarterly Servicing Report: Collection Period 04/01/2005 — 06/30/2005, Distribution Date 07/25/2005

Page 5 of 9

VI. 2001-2 Waterfall for Distributions


				Remaining
		Paid		Funds Balance
Total Available Funds				$	59,716,052.34
A	Primary Servicing Fee	$	281,963.81	$	59,434,088.53
B	Administration Fee	$	20,000.00	$	59,414,088.53
C	Swap Fees	$	7,778.68	$	59,406,309.85
D	Class A Noteholders’ Interest Distribution Amount	$	2,956,748.40	$	56,449,561.45
E	Class B Noteholders’ Interest Distribution Amount	$	490,624.04	$	55,958,937.41
F	Class A Noteholders’ Principal Distribution Amount	$	54,156,593.09	$	1,802,344.32
G	Class B Noteholders’ Principal Distribution Amount	$	—	$	1,802,344.32
H	Reserve Account Reinstatement	$	—	$	1,802,344.32
I	Swap Payment Reimbursement	$	—	$	1,802,344.32
J	Carryover Servicing Fee	$	—	$	1,802,344.32
K	Excess Distribution	$	1,802,344.32	$	—

Trust 2001-2 Quarterly Servicing Report: Collection Period 04/01/2005 — 06/30/2005, Distribution Date 07/25/2005

Page 6 of 9

VII. 2001-2 Distributions


A	Note Distribution Amounts	A2L			B

	Cusip/Isin	78442GCV6			78442GCX2
	Beginning Balance	$	356,548,183.03		$	53,756,000.00
	Index	LIBOR			LIBOR
	Spread/Fixed Rate	0.12		%	0.45		%
	Record Date	1 NEW YORK BUSINESS DAY			1 NEW YORK BUSINESS DAY
	Accrual Period Begin	4/25/2005			4/25/2005
	Accrual Period End	7/25/2005			7/25/2005
	Daycount Fraction		0.25277778			0.25277778
	Interest Rate		3.28063	%		3.61063	%
	Accrued Interest Factor		0.008292704			0.009126870
	Current Interest Due	$	2,956,748.40		$	490,624.04
	Interest Shortfall from Prior Period Plus Accrued Interest	$	—		$	—
	Total Interest Due	$	2,956,748.40		$	490,624.04
	Interest Paid	$	2,956,748.40		$	490,624.04
	Interest Shortfall	$	—		$	—
	Carryover Interest Shortfall from Prior Period Plus Accrued Interest	$	—		$	—
	Current Interest Carryover Due	$	—		$	—
	Interest Carryover Paid	$	—		$	—
	Unpaid Interest Carryover	$	—		$	—
	Principal Paid	$	54,156,593.09		$	—
	Ending Principal Balance	$	302,391,589.94		$	53,756,000.00
	Paydown Factor		0.109160270			0.000000000
	Ending Balance Factor		0.609513001			1.000000000

Trust 2001-2 Quarterly Servicing Report: Collection Period 04/01/2005 — 06/30/2005, Distribution Date 07/25/2005

Page 7 of 9

VII. 2001-2 Distributions (contd)


B	Interest Rate Swaps

		A2L			B

	Student Loan Rate		4.58857	%		4.58857	%
	Interest Rate Excess Over Student Loan Rate		0.00000	%		0.00000	%


	Swap Counterparty	CITIBANK, N.A.			CITIBANK, N.A.
	Swap Notional	$	178,274,091.52		$	26,878,000.00
	Swap Payments Due Trust	$	—		$	—
	Swap Fee Pay Rate		0.00750	%		0.00750	%
	Swap Fees Due Counterparty	$	3,379.78		$	509.56
	Swap Fees Paid Counterparty	$	3,379.78		$	509.56
	Swap Payment Reimbursement Due Counterparty	$	—		$	—
	Swap Payment Reimbursement Paid Counterparty	$	—		$	—

	Swap Counterparty	CREDIT SUISSE FIRST BOSTON INTL			CREDIT SUISSE FIRST BOSTON INTL
	Swap Notional	$	178,274,091.51		$	26,878,000.00
	Swap Payments Due Trust	$	—		$	—
	Swap Fee Pay Rate		0.00750	%		0.00750	%
	Swap Fees Due Counterparty	$	3,379.78		$	509.56
	Swap Fees Paid Counterparty	$	3,379.78		$	509.56
	Swap Payment Reimbursement Due Counterparty	$	—		$	—
	Swap Payment Reimbursement Paid Counterparty	$	—		$	—

Trust 2001-2 Quarterly Servicing Report: Collection Period 04/01/2005 — 06/30/2005, Distribution Date 07/25/2005

Page 8 of 9

VIII. 2001-2 Reconciliations



A	Principal Distribution Reconciliation
	Prior Adjusted Pool Balance	$	410,304,183.03
	Current Adjusted Pool Balance	$	356,147,589.94
	Current Principal Due	$	54,156,593.09
	Principal Shortfall from Previous Collection Period	$	—
	Principal Distribution Amount	$	54,156,593.09

	Principal Paid	$	54,156,593.09
	Principal Shortfall	$	—

B	Reserve Account Reconciliation
	Beginning Period Balance	$	1,501,342.00
	Reserve Funds Utilized		0.00
	Reserve Funds Reinstated		0.00
	Excess Distribution Deposit		1,802,344.32

	Balance Available	$	3,303,686.32
	Required Reserve Acct Balance	$	1,501,342.00
	Release to Excess Distribution Certificateholder	$	1,802,344.32
	Ending Reserve Account Balance	$	1,501,342.00


Page 9 of 9		Trust 2001-2 Quarterly Servicing Report: Collection Period 04/01/2005 - 06/30/2005, Distribution Date 07/25/2005

SLM Student Loan Trust 2001-2 8-K