**Report
      of Independent Registered Public Accounting Firm**




The
      Board
      of DirectorsPennsylvania Higher Education Assistance Agency:




We
      have
      examined management’s assessment, included in the accompanying Report on
      Management’s Assessment of Compliance with Applicable Servicing Criteria, that
      the Pennsylvania Higher Education Assistance Agency (PHEAA) complied with the
      servicing criteria set forth in Item 1122(d) of the Securities and Exchange
      Commission’s Regulation AB for all National Collegiate Student Loans
      contained in the following trusts:  Master Student Loan Trust I,
      2003-1, 2004-1, 2004-2, 2005-1, 2005-2, 2005-3, 2006-1, 2006-2, 2006-3, 2006-4,
      2007-1, and 2007-2 (the Platform), except for servicing criteria 1(i), 1(ii),
      1(iii), 2(ii), 2(iii), 3(i), 3(ii), 3(iii), 3(iv), 4(i), 4(iii), 4(x), 4(xi),
      4(xii), 4(xiii), and 4(xv), which PHEAA has determined are not applicable to
      the
      activities it performs with respect to the Platform, as of and for the year
      ended June 30, 2007. In addition, we did not test criterion 4(ix) other
      than to ensure that interest rates on TERI loans were adjusted to the rates
      specified by First Marblehead Corporation, as this is the procedure followed
      by
      PHEAA. The Report on Management’s Assessment of Compliance with Applicable
      Servicing Criteria identifies the individual asset-backed transactions and
      securities defined by management as constituting the Platform. Management is
      responsible for PHEAA’s compliance with those servicing criteria. Our
      responsibility is to express an opinion on management’s assessment about PHEAA’s
      compliance based on our examination.




Our
      examination was conducted in accordance with the standards of the Public Company
      Accounting Oversight Board (United States) and, accordingly, included examining,
      on a test basis, evidence about PHEAA’s compliance with the servicing criteria
      specified above and performing such other procedures as we considered necessary
      in the circumstances. Our examination included testing of less than all of
      the
      individual asset-backed transactions and securities that comprise the Platform,
      testing of less than all of the servicing activities related to the Platform,
      and determining whether PHEAA processed those selected transactions and
      performed those selected activities in compliance with the servicing criteria.
      Furthermore, our procedures were limited to the selected transactions and
      servicing activities performed by PHEAA during the period covered by this
      report. Our procedures were not designed to determine whether errors may have
      occurred either prior to or subsequent to our tests that may have affected
      the
      balances or amounts calculated or reported by PHEAA during the period covered
      by
      this report for the selected transactions or any other transactions. We believe
      that our examination provides a reasonable basis for our opinion. Our
      examination does not provide a legal determination on PHEAA’s compliance with
      the servicing criteria.




In
      our
      opinion, management’s assessment that PHEAA complied with the aforementioned
      servicing criteria as of and for the year ended June 30, 2007 is fairly
      stated, in all material respects.









Harrisburg,
      Pennsylvania


August
      10, 2007