Exhibit 99.1

I. SLC TRUST 2004-01 Deal Parameters

		Student Portfolio Characteristics	11/23/2004	Activity	01/31/2005
A	i	Portfolio Balance	$1,462,052,963.26	$18,828,711.15	$1,443,224,252.11
	ii	Interest to be Capitalized	$ 4,898,473.58		$ 5,014,757.95
	iii	Total Pool	$1,466,951,436.84		$1,448,239,010.06
	iv	Specified Reserve Account Balance	$ 3,713,868.00		$ 3,608,060.63
	v	Capitalized Interest Account Balance	$ 7,302,491.00		$ 7,302,491.00
	vi	Total Adjusted Pool	$1,477,967,795.84		$1,459,149,561.69

B	i	Portfolio Balance as a Percent of Original Balance	100.00%		98.71%
	ii	Weighted Average Coupon (WAC)	4.255%		4.252%
	iii	Weighted Average Remaining Term	229.77		228.63
	iv	Number of Loans	99,239		98,528
	v	Number of Borrowers	57,499		57,097
	vi	Average Outstanding Principal Balance	$1,462,052,963.26		$1,455,910,745.75

		Notes	CUSIP	Spread	Balance 11/23/2004	Pool Factor 11/23/2004	Balance 02/15/2005	Pool Factor 02/15/2005
C	i	A1 Notes	784423AA3	-0.020%	$119,450,000.00	1.0000000000	$102,193,535.63	0.8555339944
	ii	A2 Notes	784423AB1	0.010%	$247,050,000.00	1.0000000000	$247,050,000.00	1.0000000000
	iii	A3 Notes	784423AC9	0.060%	$153,500,000.00	1.0000000000	$153,500,000.00	1.0000000000
	iv	A4 Notes	784423AD7	0.110%	$269,200,000.00	1.0000000000	$269,200,000.00	1.0000000000
	v	A5 Notes	784423AE5	0.130%	$230,800,000.00	1.0000000000	$230,800,000.00	1.0000000000
	vi	A6 Notes	784423AF2	0.160%	$130,000,000.00	1.0000000000	$130,000,000.00	1.0000000000
	vii	A7 Notes	784423AG0	0.230%	$290,980,000.00	1.0000000000	$290,980,000.00	1.0000000000
	viii	B Notes	784423AH8	0.290%	$ 44,567,000.00	1.0000000000	$ 44,567,000.00	1.0000000000

Total Notes
Parity

$1,485,547,000.00
99.49%

$1,468,290,535.63
99.38%

		Reserve Account	11/23/2004	Activity	02/15/2005
D	i	Required Reserve Acc Deposit (%)	0.25%		0.25%
	ii	Reserve Acct Initial Deposit ($)	$3,713,868.00	$ -	$3,713,868.00
	iii	Specified Reserve Acct Balance ($)	$3,713,868.00	$(105,807.37)	$3,608,060.63
	iv	Reserve Account Floor Balance ($)	$2,250,000.00	$ -	$2,250,000.00
	v	Current Reserve Acct Balance ($)	$3,713,868.00	$(105,807.37)	$3,608,060.63

		Capitalized Interest Account	11/23/2004	Activity	02/15/2005
E	i	Capitalized Interest Account Balance	$7,302,491.00		$7,302,491.00

II. SLC TRUST 2004-01 Distributions

Interest
Class	CUSIP	Quarterly Interest Due	Quarterly Interest Paid	Interest Shortfall	Interest Carryover Due	Interest Carryover Paid	Interest Carryover	Interest Factor	Rate	Next Rate
A1	784423AA3	$643,657.12	$643,657.12	$ -	$ -	$ -	$ -	0.0053885067	2.30936%	2.77438%
A2	784423AB1	$1,348,524.07	$1,348,524.07	$ -	$ -	$ -	$ -	0.0054585067	2.33936%	2.80438%
A3	784423AC9	$855,789.11	$855,789.11	$ -	$ -	$ -	$ -	0.0055751734	2.38936%	2.85438%
A4	784423AD7	$1,532,243.33	$1,532,243.33	$ -	$ -	$ -	$ -	0.0056918400	2.43936%	2.90438%
A5	784423AE5	$1,324,447.34	$1,324,447.34	$ -	$ -	$ -	$ -	0.0057385067	2.45936%	2.92438%
A6	784423AF2	$755,105.87	$755,105.87	$ -	$ -	$ -	$ -	0.0058085067	2.48936%	2.95438%
A7	784423AG0	$1,737,686.00	$1,737,686.00	$ -	$ -	$ -	$ -	0.0059718400	2.55936%	3.02438%
B	784423AH8	$272,386.37	$272,386.37	$ -	$ -	$ -	$ -	0.0061118399	2.61936%	3.08438%

Total

$8,469,839.21

$ -

CURRENT LIBOR 2.329360%
NEXT LIBOR 2.794380%

Principal
Class	CUSIP	Quarterly Principal Due	Quarterly Principal Paid	Quarterly Principal Shortfall	Principal Factor
A1	784423AA3	$26,397,438.31	$17,256,464.37	$9,140,973.94	0.1444660056
A2	784423AB1	$ -	$ -	$ -	0.0000000000
A3	784423AC9	$ -	$ -	$ -	0.0000000000
A4	754423AD7	$ -	$ -	$ -	0.0000000000
A5	784423AE5	$ -	$ -	$ -	0.0000000000
A6	784423AF2	$ -	$ -	$ -	0.0000000000
A7	784423AG0	$ -	$ -	$ -	0.0000000000
B	784423AH8	$ -	$ -	$ -	0.0000000000

TOTAL

$26,397,438.31

$17,256,464.37

$9,140,973.94

III. SLC TRUST 2004-01 Transactions from: 11/23/2004 through: 01/31/2005

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	20,349,297.09
	ii	Principal Collections from Guarantor	$	269,108.77
	iii	Principal Reimbursements	$	23,113.94
	iv	Other System Adjustments	$	-
	v	Total Principal Collections	$	20,641,519.80

B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	(220,843.13)
	ii	Capitalized Interest	$	(1,591,965.52)
	iii	Total Non-Cash Principal Activity	$	(1,812,808.65)

C	Total Student Loan Principal Activity		$	18,828,711.15

D	Student Loan Interest Activity
	i	Regular Interest Collections	$	8,480,642.70
	ii	Interest Claims Received from Guarantors	$	5,262.77
	iii	Collection Fees/Returned Items	$	-
	iv	Late Fee Reimbursements	$	81,434.23
	v	Interest Reimbursements	$	-
	vi	Other System Adjustments	$	-
	vii	Special Allowance Payments	$	1,000,200.80
	viii	Subsidy Payments	$	541,873.50
	ix	Total Interest Collections	$	10,109,414.00

E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustments	$	(10,638,332.81)
	ii	Government Interest Accrual Adjustments	$	(3,147.520.43)
	iii	Capitalized Interest	$	1,591,965.52
	iv	Total Non-Cash Interest Adjustments	$	(12,193,887.72)

F	Total Student Loan Interest Activity		$	(2,084,473.72)

G	Realized Losses During Collection Period		$	-
H	Cumulative Realized Losses to Date		$	-

IV. SLC TRUST 2004-01 Collection Account Activity 11/23/2004 through 01/31/2005

A	Principal Collections
	i	Principal Payments Received	$	11,577,666.07
	ii	Principal Collections from Guarantor	$	269,108.77
	iii	Consolidation Principal Payments	$	8,794,744.96
	iv	Reimbursements by Seller	$	-
	v	Borrower Benefits Reimbursements	$	-
	vi	Reimbursements by Servicer	$	-
	vii	Re-purchased Principal	$	-
	viii	Total Principal Collections	$	20,641,519.80

B	Interest Collections
	i	Interest Payments Received	$	9,949,762.02
	ii	Interest Claims Received from Guarantors	$	5,262.77
	iii	Consolidation Interest Payments	$	72,954.98
	iv	Reimbursements by Seller	$	-
	v	Borrower Benefits Reimbursements	$	-
	vi	Reimbursements by Servicer	$	-
	vii	Re-purchased Interest	$	-
	viii	Collection Fees/Returned Items	$	-
	ix	Late Fees	$	81,434.23
	x	Total Interest Collections	$	10,109,414.00

C	Other Reimbursements		$	-

D	Reserves in Excess of Reserve Requirement		$	105,807.37

E	Interest Rate Cap Proceeds		$	-

F	Trust Account Investment Income		$	90,645.81

G	Administrator Account Investment Income		$	-

	TOTAL FUNDS RECEIVED		$	30,947,386.98
	LESS FUNDS PREVIOUSLY REMITTED/SET ASIDE:
	i Consolidation Loan Rebate Fees		$	3,835,496.52


H	TOTAL AVAILABLE FUNDS		$	27,111,890.46

I	Servicing Fees Due for Current Period		$	1,376,586.88

J	Carryover Servicing Fees Due		$	-

K	Total Fees Due for Period		$	1,376,586.88

V. SLC TRUST 2004-01 Waterfall for Distributions

A	Total Available Funds (III-F)		$	27,111,890.46

B	Trustee Fees		$	9,000.00

C	Primary Servicing Fees		$	1,376,586.88

E	Noteholder's Interest Distribution Amount Paid
	i	Class A-1	$	643,657.12
	ii	Class A-2	$	1,348,524.07
	iii	Class A-3	$	855,789.11
	iv	Class A-4	$	1,532,243.33
	v	Class A-5	$	1,324,447.34
	vi	Class A-6	$	755,105.87
	vii	Class A-7	$	1,737,686.00
	viii	Class B	$	272,386.37
	ix	Total Noteholder's Interest Distribution	$	8,469,839.21

F	Noteholder's Principal Distribution Amount Paid
	i	Class A-1	$	17,256,464.37
	ii	Class A-2	$	-
	iii	Class A-3	$	-
	iv	Class A-4	$	-
	v	Class A-5	$	-
	vi	Class A-6	$	-
	vii	Class A-7	$	-
	viii	Class B	$	-
	ix	Total Noteholder's Principal Distribution	$	17,256,464.37

G	Increase to the Reserve Account Balance		$	-

H	Carryover Servicing Fees		$	-

I	Noteholder's Interest Carryover
	i	Class A-1	$	-
	ii	Class A-2	$	-
	iii	Class A-3	$	-
	iv	Class A-4	$	-
	v	Class A-5	$	-
	vi	Class A-6	$	-
	vii	Class A-7	$	-
	viii	Class A-8	$	-
	ix	Class A-9	$	-
	x	Class B	$	-
	xi	Total Noteholder's Interest Carryover	$	-

J	Excess Distribution Release to Trust Certificateholders		$	-

K	Draw from Capitalized Interest Account		$	-

VI. SLC TRUST 2004-01 Historical Pool Information

			11/23/04-01/31/05
	Student Loan Interest Activity
	i	Regular Interest Collections	$	8,480,642.70
	ii	Interest Claims Received from Guarantors	$	5,262.77
	iii	Collection Fees/Returned Items	$	-
	iv	Late Fee Reimbursements	$	81,434.23
	v	Interest Reimbursements	$	-
	vi	Other System Adjustments	$	-
	vii	Special Allowance Payments	$	1,000,200.80
	viii	Subsidy Payments	$	541,873.50
	ix	Total Interest Collections	$	10,109,414.00

	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustments	$	(10,638,332.81)
	ii	Government Interest Accrual Adjustments	$	(3,147,520.43)
	iii	Capitalized Interest	$	1,591,965.52
	iv	Total Non-Cash Interest Adjustments	$	(12,193,887.72)
	Total Student Loan Interest Activity		$	(2,084,473.72)

Beginning Student Loan Portfolio Balance			$	1,462,052,963.26

	Student Loan Principal Activity
	i	Regular Principal Collections	$	20,349,297.09
	ii	Principal Collections from Guarantor	$	269,108.77
	iii	Principal Reimbursements	$	23,113.94
	iv	Other System Adjustments	$	-
	v	Total Principal Collections	$	20,641,519.80

	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	(220,843.13)
	ii	Capitalized Interest	$	(1,591,965.52)
	iii	Total Non-Cash Principal Activity	$	(1,812,808.65)

(-)	Total Student Loan Principal Activity		$	18,828,711.15
(=)	Ending Student Loan Portfolio Balance		$	1,443,224,252.11
(+)	Interest to be Capitalized		$	5,014,757.95
(=)	TOTAL POOL		$	1,448,239,010.06
(+)	Reserve Account Balance		$	3,608,060.63
(+)	Capitalized Interest Account Balance		$	7,302,491.00
(=)	Total Adjusted Pool		$	1,459,149,561.69

VII. SLC TRUST 2004-01 Portfolio Characteristics

	Weighted Avg Coupon		# of Loans		%		Principal Amount		%
STATUS	11/23/04	01/31/05	11/23/04	01/31/05	11/23/04	01/31/05	11/23/04	01/31/05	11/23/04	01/31/05
REPAYMENT

Active
Current	4.219%	4.218%	75,990	75,110	76.573%	76.232%	$1,087,408,846.45	$1,066,842,198.10	74.306%	73.921%
31-60 Days Delinquent	4.485%	4.481%	1,849	1,520	1.863%	1.543%	$28,080,991.97	$23,012,283.11	1.946%	1.595%
61-90 Days Delinquent	4.479%	4.536%	856	1,089	0.863%	1.105%	$13,326,983.03	$16,359,520.76	0.965%	1.134%
91-120 Days Delinquent	4.459%	4.499%	598	722	0.603%	0.733%	$9,683,226.71	$10,606,508.26	0.620%	0.735%
> 120 Days Delinquent	4.374%	4.450%	1,054	1,505	1.062%	1.527%	$14,919,546.38	$22,428,622.66	1.078%	1.554%

Deferment
Current	4.279%	4.277%	13,303	12,911	13.405%	13.104%	$203,579,187.90	$196,558,441.06	13.936%	13.619%

Forbearance
Current	4.446%	4.392%	5,587	5,646	5.630%	5.730%	$105,026,257.69	$107,090,220.71	7.142%	7.420%

TOTAL REPAYMENT	4.255%	4.252%	99,237	98,503	99.998%	99.975%	$1,462,025,040.13	$1,442,897,794.66	99.992%	99.977%
Claims in Process	3.625%	4.249%	2	25	0.002%	0.025%	$27,923.13	$326,457.45	0.008%	0.023%
Aged Claims Rejected	0.000%	0.000%	0	0	0.000%	0.000%	$ -	$ -	0.000%	0.000%
GRAND TOTAL	4.255%	4.252%	99,239	98,528	100.000%	100.000%	1,462,052,963.26	1,443,224,252.11	100.000%	100.000%

VIII. SLC TRUST 2004-01 Payment History and CPRs

Distribution Date	Actual Pool Balances	Life CPR*	Life Pct of CLR
05-Feb	$ 1,443,224,252.11	2.12	6,364.64

* "Since Issued CPR" is based on the current period's ending pool balance
calculated against the original pool balance and assuming cutoff date pool date.

SLC Student Loan Trust 2004-1 8-K