**Exhibit 19.2**

 

**March 25, 2005**

 

Sallie Mae, Inc.

12061 Bluemont Way

Reston, VA 20190

 

and

 

Chase Manhattan Bank USA, National Association

Christiana Center/Ops 4

500 Stanton Christiana Road

Newark, DE 19713

 

and

 

Deutsche Bank Trust Company Americas

60 Wall Street, 26th Floor

MS NYC 60-2606

New York, NY 10005

 

### **Report ofIndependent Accountants**

 

# Sallie Mae Student Loan Trust 2000-1

 

We have examined management’s assertionincluded in the accompanying report titled *Report of Management onCompliance by Administrator*, that Sallie Mae, Inc., as the assigneeof the Student Loan Marketing Association (the “Company”) complied, in allmaterial respects, with the terms and conditions of Sections 2.3.A.1, 2.3.A.2,2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C, 2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C,3.1.D, 3.2.A, 3.2.C, and 3.2.D of the Administration Agreement among theCompany, Chase Manhattan Bank USA, National Association, Deutsche Bank TrustCompany Americas and Sallie Mae, Inc., as Servicer, and as thesuccessor-in-interest to Sallie Mae Servicing Corporation, (the “Agreement”)pursuant to the Sallie Mae Student Loan Trust 2000-1,for the period January 1, 2004 throughDecember 31, 2004.** **The Company’s****managementis responsible for the assertion.  Ourresponsibility is to express an opinion on the assertion based on ourexamination.

 

Our examination was conducted in accordancewith attestation standards established by the American Institute of CertifiedPublic Accountants and, accordingly, included examining, on a test basis,evidence supporting management’s assertion and performing such other proceduresas we considered necessary in the circumstances.  We believe that our examination provides areasonable basis for our opinion.

 

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In our opinion, management’s assertion thatthe Company complied with the aforementioned requirements during the period January 1, 2004 through December 31, 2004 is fairlystated, in all material respects.

 

This report is intended solely for theinformation and use of management, the board of directors, Chase Manhattan BankUSA, National Association and Deutsche Bank Trust Company Americas and is notintended to be and should not be used by anyone other than these specifiedparties.

 

Very truly yours,

 
| /s/  PRICEWATERHOUSECOOPERS LLP |   |
|---------------------------------|--------|
| McLean, Virginia                |   |

 

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**Report of Management on Compliance by Administrator**

 

I acknowledge that a member of management ofSallie Mae, Inc., as the assignee of the Student Loan Marketing Association,(the “Company”), we are responsible for ensuring compliance with the terms andconditions of Sections 2.3.A.1, 2.3.A.2, 2.4, 2.6.B, 2.7.A, 2.7.B, 2.7.C,2.8.B.1, 2.8.B.2, 2.8.B.3, 2.9, 3.1.B, 3.1.C, 3.1.D, 3.2.A, 3.2.C, and 3.2.D ofthe Administration Agreement among the Company, Chase Manhattan Bank USA,National Association, Deutsche Bank Trust Company Americas and Sallie Mae,Inc., as Servicer, and as the successor-in-interest to Sallie Mae Servicing Corporation,(the “Agreement”) pursuant to the Sallie Mae Student Loan Trust 2000-1. We are also responsible for establishing and maintaining effectiveinternal control over compliance with the terms and conditions of theAgreement.

 

We have performed an evaluation of theCompany’s compliance with the conditions of the Sections in the Agreementindicated above.  Based on the evaluation,we assert that the Company complied, in all material respects, with the termsand conditions of the Sections in the Agreement indicated above for the period January 1, 2004 through December 31, 2004.

 

March 25, 2005

 

 
| /s/ J. LANCE FRANKE                       |   |
|-------------------------------------------|--------|
|                                      |
| J. Lance Franke                           |
| Senior Vice President,  Corporate Finance |

 

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**March 25, 2005**

 

Sallie Mae, Inc.

12061 Bluemont Way

Reston, VA 20190

 

and

 

Chase Manhattan Bank USA, National Association

Christiana Center/Ops 4

500 Stanton Christiana Road

Newark, DE 19713

 

and

 

Deutsche Bank Trust Company Americas

60 Wall Street, 26th Floor

MS NYC 60-2606

New York, NY 10005

 

**Report ofIndependent Accountants**

 

Sallie Mae Student Loan Trust 2000-1

 

We have examined management’s assertion,included in the accompanying report titled *Report of Management onCompliance by Servicer*, that Sallie Mae, Inc., as thesuccessor-in-interest to Sallie Mae Servicing Corporation, (the “Company”)complied, in all material respects, with the terms and conditions of Sections2.2, 2.3, 3.1A, 3.2, 3.2B, 3.2C, 3.5A, 3.6, 3.10, and 3.15 of the ServicingAgreement among the Company, Chase Manhattan Bank USA, National Association,Deutsche Bank Trust Company Americas, and Sallie Mae, Inc., as Administrator,and as the assignee of the Student Loan Marketing Association, (the “Agreement”)pursuant to the Sallie Mae Student Loan Trust 2000-1,for the period January 1, 2004 throughDecember 31, 2004.  The Company’smanagement is responsible for the assertion. Our responsibility is to express an opinion on the assertion based onour examination.

 

Our examination was conducted in accordancewith attestation standards established by the American Institute of CertifiedPublic Accountants and, accordingly, included examining, on a test basis,evidence supporting management’s assertion and performing such other proceduresas we considered necessary in the circumstances.  We believe that our examination provides a

 

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reasonable basis for our opinion.  Our examination does not provide a legaldetermination on the Company’s compliance with specified requirements.

 

In our opinion, management’s assertion thatthe Company complied with the aforementioned requirements during the period January 1, 2004 through December 31, 2004 isfairly stated, in all material respects.

 

This report is intended solelyfor the information and use of management, the board of directors, ChaseManhattan Bank USA, National Association and Deutsche Bank Trust CompanyAmericas and is not intended to be and should not be used by anyone other thanthese specified parties.

 

Very truly yours,

 
| /s/ PRICEWATERHOUSECOOPERS  LLP |   |
|---------------------------------|--------|
| McLean, Virginia                |   |

 

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**Report of Management on Compliance by Servicer**

 

I acknowledge that as a member ofmanagement of Sallie Mae, Inc., as the successor-in-interest to Sallie Mae ServicingCorporation, (the “Company”), we are responsible for ensuring compliance withthe terms and conditions of Sections 2.2,.2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A,3.6, 3.10, and 3.15 of the Servicing Agreement among the Company, ChaseManhattan Bank USA, National Association, Deutsche Bank Trust Company Americas,and the Sallie Mae Inc., as Administrator, and as the assignee of the StudentLoan Marketing Association, (the “Agreement”) pursuant to the Sallie MaeStudent Loan Trust 2000-1.  We are also responsible for reviewing andensuring implementation of, and ongoing compliance with, effective internalcontrol over compliance with the terms and conditions of the Agreement.

 

On an ongoing basis we evaluate the Company’scompliance with the terms and conditions of the Sections in Agreement indicatedabove.  Based on this managementoversight and evaluation, we assert that the Company complied, in all materialrespects, with the terms and conditions of the Sections in the Agreementindicated above for the period January 1, 2004through December 31, 2004.

 

March 25, 2005

 

 
| /s/ ROBERT C. BALLARD             |   |
|-----------------------------------|--------|
|                              |
| Robert C. Ballard                 |
| Senior Vice President,  Servicing |

 

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