Exhibit 99.1

Student Loan Finance Corporation

Quarterly Report Pursuant to Section 6.2 of the Indenture and

Section 21d of the Servicing Agreement (Unaudited)

Education Loans Incorporated

Student Loan Asset-Backed Notes, Series 2005-1A & 2005-1B

Report for the Three Months Ended February 28, 2006

I.	Identification of Notes

II.

Total Asset Percentage


	February 28, 2006			Application of Available Funds			Adj Balance at Mar 27, 2006
Value of Trust Estate
Principal Balance of Eligible Loans	$	572,399,795.70					$	572,399,795.70
Accrued Borrower Interest		6,655,378.32						6,655,378.32
Accrued Government Interest		841,152.23						841,152.23
Accrued Special Allowance Payments		2,067,524.43						2,067,524.43
Acquisition Account		155,205.09						155,205.09
Collection Account		46,399,553.68			(46,397,535.36	)		2,018.33
Reserve Account:
Amount in Excess of Reserve Requirement		635,820.00			(635,820.00	)		0.00
Balance of Reserve Account		6,473,020.00						6,473,020.00
Accrued Interest on Investment Accounts		10,749.08						10,749.08

Total Value of Trust Estate		635,638,198.53			(47,033,355.36	)		588,604,843.18

Principal Amount of Outstanding Notes		647,302,000.00			(39,045,000.00	)		608,257,000.00

Difference	$	(11,663,801.47	)	$	(7,988,355.36	)	$	(19,652,156.82	)

Total Asset Percentage								96.77	%

III.

Changes in Account Balances


A.	Acquisition Account				Amount
	Balance at November 30, 2005				$	567,935.82
	Less Withdrawals for Eligible Loans:
	Total Principal Acquired	$	(402,046.64	)
	Accrued Interest Acquired		0.00
	Premiums and Related Acquisition Costs		(10,684.09	)

	Net Cost of Loans Acquired					(412,730.73	)

	Balance at February 28, 2006				$	155,205.09


B.	Collection Account				Amount
	Balance at November 30, 2005				$	71,113,519.39
	Increase in Net Available Funds					46,398,838.01
	Distribution of Available Funds (Pursuant to Indenture Section 5.6)					(71,112,803.72	)

	Balance at February 28, 2006				$	46,399,553.68

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C.	Reserve Account	Amount
	Balance at November 30, 2005	$	7,500,000.00
	Additions From Collection Account		0.00
	Less Withdrawals During Period		(391,160.00	)

	Balance at February 28, 2006	$	7,108,840.00

IV.

Available Funds to be Distributed on Mar 27, 2006


A.	Available Funds	Amount
	Available Funds in Collection Account not Paid on Prior Quarterly Payment Date	$	715.67

	Increase in Collection Account During Period:
	Principal Collections	$	39,208,291.50
	Borrower Interest Collections		3,691,851.37
	Late Fees Collected		56,528.18
	Investment Income Receipts		523,095.55
	Government Interest and Special Allowance Payments Collected		4,289,029.30
	Less Payments of:
	Servicing Fees		(955,203.25	)
	Consolidation Loan Rebate Fees		(414,754.64	)

	Total Collection Account Increase During Period		46,398,838.01

	Total Available Funds in Collection Account		46,399,553.68
	Reserve Account in excess of Reserve Requirement		635,820.00

	Total Available Funds	$	47,035,373.68


B.	Distribution Amounts

	1) Idemnification Payment	$	0.00
	2a) Primary Servicing Fees for Preceding Month		462,851.95
	2b) Trustee Fees for the Preceding Quarter		24,273.83
	3) Senior Noteholders’ Interest Distribution Amount		6,930,924.33
	4) Senior Noteholders’ Principal Distribution Due at Stated Maturity		0.00
	5) Subordinate Noteholders’ Interest Distribution Amount		570,305.25
	6) Reserve Account to Increase to Reserve Account Requirement		0.00

	Total of Above Distribution Amounts		7,988,355.36

	Remaining Balance Available for Principal Payments	$	39,047,018.33


C.	Principal Distribution Amounts

	Applied to Series 2005-1A2 Notes	$	39,045,000.00

	Rate per $1,000	$	156.18


D.	Total Distribution Amounts	$	47,033,355.36

V.	Schedule of Noteholder’s Interest Due Mar 27, 2006

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VI.

Student Loan Information


A.	Student Loan Principal Outstanding for the Three Months Ended February 28, 2006

		Amount
	Balance at November 30, 2005	$	609,665,802.88
	Loans Purchased / Originated		402,046.64
	Capitalized Interest		1,550,638.18
	Less Principal Payments Received		(39,208,291.50	)
	Less Sale of Loans		0.00
	Other Increases (Decreases)		(10,400.50	)

	Balance at February 28, 2006	$	572,399,795.70


B.	Composition of Student Loan Portfolio as of February 28, 2006

		Amount
	Aggregate Outstanding Principal Balance	$	572,399,795.70
	Number of Borrowers		77,331
	Average Outstanding Principal Balance Per Borrower	$	7,402
	Number of Loans (Promissory Notes)		169,606
	Average Outstanding Principal Balance Per Loan	$	3,375
	Weighted Average Interest Rate		4.68	%


C.	Distribution of Student Loan Portfolio by Loan Type as of February 28, 2006

	Loan Type	Outstanding Principal Balance		Percent
	Stafford - Subsidized	$	215,541,954.44	37.7	%
	Stafford - Unsubsidized		166,757,859.98	29.1	%
	Stafford - Nonsubsidized		5,514.81	0.0	%
	PLUS		34,696,251.42	6.1	%
	SLS		20,393.29	0.0	%
	Consolidation		155,377,821.76	27.1	%

	Total	$	572,399,795.70	100.0	%


D.	Distribution of Student Loan Portfolio by Interest Rate as of February 28, 2006

	Interest Rate	Outstanding Principal Balance		Percent
	Less Than 3.00%	$	36,709,522.28	6.4	%
	3.00% to 3.49%		62,796,949.62	11.0	%
	3.50% to 3.99%		27,703,849.26	4.8	%
	4.00% to 4.49%		20,827,116.79	3.6	%
	4.50% to 4.99%		179,791,666.63	31.4	%
	5.00% to 5.49%		204,655,545.88	35.8	%
	5.50% to 5.99%		1,396,526.42	0.2	%
	6.00% to 6.49%		37,174,000.48	6.5	%
	6.50% to 6.99%		615,741.01	0.1	%
	7.00% to 7.49%		343,478.48	0.1	%
	7.50% to 7.99%		111,518.68	0.0	%
	8.00% to 8.49%		194,874.45	0.0	%
	8.50% to 8.99%		0.00	0.0	%
	9.00% to 9.49%		75,593.71	0.0	%
	9.50% to 9.99%		0.00	0.0	%
	10.00% or Greater		3,412.01	0.0	%

	Total	$	572,399,795.70	100.0	%

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E.	Distribution of Student Loan Portfolio by Borrower Payment Status as of February 28, 2006

	Status	Number of Loans	Outstanding Principal Balance		% of Principal
	Interim
	School	28,478	$	86,969,208.10	15.2	%
	Grace	10,688		31,094,351.95	5.4	%

	Total Interim	39,166		118,063,560.05	20.6	%


	Repayment
	Active
	Current	72,930		284,714,742.21	49.7	%
	31 to 60 Days	5,904		16,658,036.61	2.9	%
	61 to 90 Days	4,146		11,847,689.92	2.1	%
	91 to 120 Days	2,780		7,724,564.32	1.3	%
	121 to 180 Days	3,836		9,764,879.32	1.7	%
	181 to 270 Days	5,400		12,355,456.87	2.2	%
	Over 270 Days	302		762,214.89	0.1	%
	Claims Filed, Not Yet Paid	2,415		5,433,832.60	0.9	%
	Deferment	26,110		80,227,150.80	14.0	%
	Forbearance	6,617		24,847,668.11	4.3	%

	Total Repayment	130,440		454,336,235.65	79.4	%

		169,606	$	572,399,795.70	100.0	%


H.	Distribution of Student Loan Portfolio by Guarantee Agency as of February 28, 2006

	Guarantee Agency	Outstanding Principal Balance		Percent
	AES/Pennsylvania Higher Education Assistance Agency	$	277,680.05	0.0	%
	California Student Aid Commission		37,800,351.16	6.6	%
	Colorado Student Loan Program		30,728,814.70	5.4	%
	Education Assistance Corporation		326,081,876.98	57.0	%
	Educational Credit Management Corporation		14,765,031.53	2.6	%
	Great Lakes Higher Education Guaranty Corporation		118,882,616.63	20.8	%
	National Student Loan Program		7,909,477.91	1.4	%
	Northwest Education Loan Association		23,987,772.96	4.2	%
	Student Loans of North Dakota		5,796,957.55	1.0	%
	United Student Aid Funds, Inc		5,970,660.62	1.0	%
	Other Guarantee Agencies		198,555.61	0.0	%

	Total	$	572,399,795.70	100.0	%

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EDUCATION LOANS INC /DE 8-K