New York, February 25, 2014 -- Moody's upgraded 34 classes, downgraded 2 classes and affirmed 22 classes of notes from 12 private student loan securitizations sponsored, administered and serviced by Sallie Mae, Inc., a wholly-owned subsidiary of SLM Corporation (SLM). The underlying collateral consists of private credit student loans that are not guaranteed or reinsured under either the Federal Family Education Loan Program (FFELP) or any other federal student loan program.

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