Exhibit 34.2



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|LOGO |  |  |  | r |                         | Ernst & Young LLP          |  | r |                     | Phone: (414) 273-5900
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Report of Independent Registered Public Accounting Firm

We have examined managements assertion, included in the accompanying Managements Assessment of Compliance with Regulation AB Servicing Criteria, that Great
Lakes Educational Loan Services, Inc. (the Company) complied with the servicing criteria set forth in Item 1122(d) of the Securities and Exchange Commissions Regulation AB for the Great Lakes student loan servicing
platform as of and for the year ended December 31, 2006, except for 1122(d)(1)(iii)-(iv), 1122(d)(2)(ii)-(iv), 1122(d)(3)(i)-(iv), 1122(d)(4)(i), 1122(d)(4)(iii), and 1122(d)(4)(x)-(xiii), which the Company has determined are not applicable to
the activities performed by them with respect to the servicing platform covered by this report. Management is responsible for the Companys compliance with those servicing criteria. Our responsibility is to express an opinion on
managements assertion about the Companys compliance with the servicing criteria based on our examination.

Our examination was conducted in
accordance with standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included examining, on a test basis, evidence about the Companys compliance with the applicable servicing criteria 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 the Company 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 the Company 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 the Company 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 the Companys compliance with the servicing criteria.

In our opinion, managements
assertion that the Company complied with the aforementioned servicing criteria as of and for the year ended December 31, 2006 for the Great Lakes student loan servicing platform is fairly stated, in all material respects.

/s/ Ernst & Young LLP

Milwaukee, WI

February 16, 2007



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