Exhibit 99.1

Education Funding Capital Trust-IV

Statements to Noteholders

September 30, 2004

(per Section 11.04)


Payments on each Series of Notes during the month ended:		September 30, 2004


Information on Each Series of Notes as of:		September 30, 2004

Education Funding Capital Trust-IV

Statements to Noteholders

September 30, 2004

(per Section 11.04)


Value of the Trust Estate as of:		September 30, 2004


Principal Balance of Financed Student Loans	935,566,266.30
Accrued Interest on Financed Student Loans	7,147,354.36
Cash and Investment Balance	23,809,484.76
Accrued Interest on Cash and Investments	37,349.37

	966,560,454.79

Accrued Interest and Fees with respect to the Notes	974,594.74

Pool Balance	935,566,266.30

Parity Percentage	97.75	%

Senior Parity Percentage	102.96	%


Rollforward of Indenture Funds during month ended:		September 30, 2004


	Distribution Account		Collection Account		Acquisition Account	Reserve Account	Capitalized Interest Account
	Distribution Account		Collection Account		Acquisition Account	Reserve Account	Capitalized Interest Account
Beginning Balance	—		18,968,716.83		0.00	10,000,000.00	5,000,000.00
Withdrawals	(17,846,534.08	)	(22,446,798.46	)	—	—	—
Deposits	20,335,086.69		9,217,355.45			—	—

Ending Balance	2,488,552.61		5,739,273.82		0.00	10,000,000.00	5,000,000.00


Amounts allocated during month ended:		September 30, 2004


Activity on Financed Student Loans during month ended:		September 30, 2004


Recoveries of Principal		4,293,318.84

Recoveries of Interest		2,021,936.57

Acquisitions of Financed Student Loans		—

Sales of Financed Student Loans		—

Initial federal reimbursement claims		86,360.78

Rejected federal reimbursement claims		—

Education Funding Capital Trust-IV

Statements to Noteholders

Portfolio Statistics

September 30, 2004

(per Section 11.04)

EDUCATION FUNDING CAPITAL TRUST-IV 8-K