As the Democratic takeover of the House sidelines Santa Clarita's Republican Rep. Howard P. ``Buck'' McKeon, changes are expected in how the committee he chairs handles student loans. Democrat Rep. George Miller, who's expected to replace McKeon as chairman of the House Committee on Education and the Workforce, wants to halve the interest rate charged on loans to needy students. He also wants to increase the number of ``direct'' loans that the government makes to students. The president's budget office found those kinds of loans cost the government less than federally backed loans from private lenders.

The ratings are based on the transaction's credit enhancement, which reflects the high credit quality of the Federal Family Education Loan Program (FFELP) consolidation student loan collateral and the transaction's legal and financial structure. The expected ratings reflect the ability of the trust to pay note principal at maturity and timely interest as reflected in the cash flow stress scenarios.

This repayment example assumes a variable interest rate for the Student Loan Network Continuing Education Loan equal to the LIBOR Index plus a margin of 3.75%. The interest rate used in this example and in effect as of 12/01/2007 is 8.46%. The interest rate margin ranges, depending on the credit-worthiness of the borrower and co-signer, if any, from 3.75% to 8.00% (APRs range from 8.98% to 14.18%). The LIBOR Index equals the one-month LIBOR published in the "Money Rates" section of the Wall Street Journal on the first business day of the preceding calendar month. LIBOR means the London Interbank Offered Rate. The interest rate and APR will increase during the life of the loan if the LIBOR Index increases. PNC Bank, N.A., Member FDIC and Equal Opportunity Lender is the lender for the Student Loan Network Continuing Education Loan. The loan terms described are for the 2007-2008 academic year and are subject to change.