**UNITED STATESSECURITIES AND EXCHANGE COMMISSION****Washington, DC 20549**

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**FORM 10-K**

**(Mark One)**
| ý | ** ** | **Annual  report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**                                                                                                                        |
|--------|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | ** ** | ** **                                                                                                                                                                                                       |
|   |       | **For the fiscal year ended December  31, 2004 or**                                                                                                                                                              |
|   |       | ** **                                                                                                                                                                                                       |
| o      | ** ** | **Transition  report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**                                                                                                                    |
|   | ** ** | ** **                                                                                                                                                                                                       |
|   | ** ** | **For the transition period from                 to               ** |

** **

**SLMFUNDING LLC, as the Depositor**(Exact name ofregistrant as specified in its charter)

 

**SLMStudent Loan Trust 2000-3, as the Issuer**

 

| **DELAWARE**                                    | ** ** | **333-44465**             |   | **57-1176559**                             |
|-------------------------------------------------|------------|---------------------------|--------|--------------------------------------------|
| (State or other  Jurisdiction of Incorporation) |       | (Commission File  Number) |   | (I.R.S. employer  Identification No.) |

 

**12061 Bluemont Way, V3419RESTON, VA 20190**(Address ofprincipal executive offices)

**(703) 984-6419**Registrant’stelephone number, including area code

Securities registered pursuant to Section 12(b)of the Act: None

Securities registered pursuant to Section 12(g)of the Act: None

Indicate by check mark whether the registrant:(1) has filed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12 months (orfor such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past90 days. Yes ý No o

Documents are incorporated by reference into thisForm 10-K: None.

State the aggregate market value of the voting stockheld by non-affiliates of the Registrant: None.

This Annual Report onForm 10-K is filed in reliance upon (i) certain no-action lettersissued by the Office of Chief Counsel, Division of Corporate Finance of theSecurities and Exchange Commission stating that the Division will not object ifperiodic reports filed by the Registrant pursuant to Sections 13 and 15(d) ofthe Securities and Exchange Act of 1934 are filed in the manner set forth insuch letters and the requests for such letters and (ii) the Registrant’sfiling letter accompanying the Registrant’s Current Report on Form 8-Kfiled with the Commission on or about November 6, 1995 in which theRegistrant described the manner in which it intended to file such periodicreports.

 

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**PART I.**

**Item 2. Properties.**

SLM Funding LLC, the successor-in-interest to SLMFunding Corporation and Sallie Mae Funding Corporation, is the depositor for theSLM Student Loan Trust 2000-3. The property of the Trust consists of pools ofeducation loans to students and parents of students made under the FederalFamily Education Loan Program, all funds collected in respect thereof andmonies on deposit in certain trust accounts together with rights to receivepayments under certain swap transactions.

On an annual basis, the****SLMStudent Loan Trust 2000-3 is required to provide statements of compliance ofits servicers and administrators. The Annual Statements of Compliance for the SLMStudent Loan Trust 2000-3 are attached as Exhibit 19.1 hereto. Thesestatements are required by:

**•    **the Master Administration Agreement,dated as of May 1, 1997, between SLM Funding Corporation, as the Depositor andthe predecessor-in-interest to SLM Funding LLC, and the Student Loan MarketingAssociation , as the Administrator, as variously amended or supplemented;

 

•     Adminstration Agreement Supplement dated as of April26, 2000, among the Depositor, the Administrator, Sallie Mae ServicingCorporation, as the Servicer, SLM Student Loan Trust 2000-3, as the Trust,Bankers Trust Company, as the Indenture Trustee, and Chase Manhattan Bank,Delaware, as the Eligible Lender Trustee; and

 

•                  the Servicing Agreement, dated as of April 26, 2000 amongthe Servicer, the Trust, the Administrator, the Indenture Trustee and theEligible Lender Trustee.

**Item 3. Legal Proceedings.**

Nothing to report.

**Item 4. Submission of Matters to a Vote of Security Holders.**

Nothing to report.

 

 

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**PART II.**

**Item 5. Market for Registrant’s Common Equity and RelatedStockholder Matters.**

At December 31, 2004, there was one(1) registered holder of the SLM Student Loan Trust 2000-3 Floating RateStudent Loan-Backed Certificates (“Certificates”), That registered holder was CEDE &Co., as nominee of The Depository Trust Company (“DTC”). At December 31,2004, there were two (2) different persons registered on the books of DTCas record owners of Certificates.  Thereis no established trading market for the Certificates.

**Item 7. Other Related Events and Information.**

Nothing to report.

**Item 9. Changes in and Disagreements with Accountants onAccounting and Financial Disclosure.**

**Item 9B.Other Information.**

Nothing to report.

 

 

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**PART III.**

**Item 12. Security Ownership of Certain Beneficial Owners andManagement.**

At December 31, 2004,the Certificates held by an affiliate of the****SLMStudent Loan Trust 2000-3 were registered in the name of CEDE and Co., asnominee of DTC. 

 

At December 31, 2004,the books of DTC indicate that two (2) different participant institutionsare record owners of more than 5% of the Certificates. 

 
| **DTC REGISTERED**                                                                 | ** ** | **DTC ID** | ** ** | **Holder**                                                                                                        | ** ** | **Principal Amount** | ** **    | **Percent** | ** ** |
|------------------------------------------------------------------------------------|------------|------------|------------|-------------------------------------------------------------------------------------------------------------------|------------|----------------------|---------------|-------------|------------|
| **2000-3 Floating Rate**

**Student Loan-Backed**

**Certificates**

**78442GCF1** |       | 443        |       | Pershing LLC

C/O ADP Proxy Services

51 Mercedes Way

Edgewood, NY 11717                                         |       | $                    | 15,000,000.00 |        | 16.71      | % |
| ** **                                                                         |       |       |       |                                                                                                              |       |                 |          |        |       |   |
|                                                                               |       | 997        |       | State Street Bank and  Trust Co*

1776 Heritage Dr.

Global Corp Action Unit  JAB  5NW

No. Quincy, MA 02171 |       | $                    | 74,750,000.00 |        | 83.29      | % |

** **

**Item 13. Certain Relationships and Related Transactions.**

Nothing to report.

 

 

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**PARTIV.**

**Item 15. Exhibits, Financial Statement Schedules and Reportson Form 8-K.**

(a)           *Exhibits.*    Thefollowing documents are filed as part of this Annual Report on Form 10-K:

 
| **Designation** | ** ** | **Description**                                                        |
|-----------------|------------|------------------------------------------------------------------------|
| Exhibit 19.1    |       | Annual Statements of  Compliance of the Administrator and the Servicer |
|            |       |                                                                   |
| Exhibit 19.2    |       | Annual Independent Certified Public Accountant’s  Report          |

 

(b)           *Reports on Form 8-K.*    TheRegistrant, on behalf of the SLM Student Loan Trust 2000-3, filed four (4) CurrentReports on Form 8-K with the Commission during the period covered by thisreport. They are:

 

·         On January 30, 2004, in connection with the January 26, 2004 Quarterly Distribution Report;

 

·         On May 3, 2004, in connection with the April 26, 2004Quarterly Distribution Report;

 

·         On August 2, 2004, in connection with the July 26, 2004Quarterly Distribution Report; and

 

·         On November 2, 2004, in connection with the October 25,2004 Quarterly Distribution Report.

 

 

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**SIGNATURES**

Pursuant to the requirements of Section 13 or15(d) of the Securities Exchange Act of 1934, as amended, the SLM Student LoanTrust 2000-3****has duly caused this report to besigned, on its behalf by the undersigned hereunto duly authorized. 

 
| Dated: March 30, 2005 | SLM FUNDING LLC |
|-----------------------|-----------------|
|                  |            |   |
|                  |            |   |
|                  |            |   |
|                  | By:             | /s/  JOHN  F. REMONDI |
|                  |            | Name:  John F. Remondi |
|                  |            | Title:    President |

 

Pursuant to the requirements of the SecuritiesExchange Act of 1934, this report has been signed below by the followingpersons on behalf of the Registrant and in the capacities indicated on thedates indicated. 

 
| **Signature**             | ** ** | **Title**                          | ** ** | **Date**       |
|---------------------------|------------|------------------------------------|------------|----------------|
|                      |       |                               |       |           |
| /s/ JOHN F. REMONDI       |       | President (Principal Executive     |       | March 30, 2005 |
| John F. Remondi           |       | Officer) and  Manager              |       |           |
|                      |       |                               |       |           |
| /s/ C.E. ANDREWS          |       | Chief Financial Officer (Principal |       | March 30, 2005 |
| C. E. Andrews             |       | Financial  Officer) and Manager    |       |           |
|                      |       |                               |       |           |
| /s/ THOMAS J. FITZPATRICK |       | Manager                            |       | March 30, 2005 |
| Thomas J. Fitzpatrick     |       |                               |       |           |
|                      |       |                               |       |           |
|                      |       | Independent Manager                |       |           |
| Victor A. Duva            |       |                               |       |           |
|                      |       |                               |       |           |
|                      |       | Independent Manager                |       |           |
| Kennith J. Uva            |       |                               |       |           |

 

 

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**CERTIFICATION**

I, JohnF. Remondi, certify that:

1.     I havereviewed this annual report on Form 10-K, and all reports on Form 8-Kcontaining distribution or servicing reports filed in respect of periodsincluded in the year covered by this annual report, of SLM Student Loan Trust2000-3;

2.     Based onmy knowledge, the information in these reports, taken as a whole, does notcontain any untrue statement of a material fact or omit to state a materialfact necessary to make the statements made, in light of the circumstances underwhich such statements were made, not misleading as of the last day of theperiod covered by this annual report;

3.     Based onmy knowledge, the distribution or servicing information required to be providedto the trustee by the servicer under the pooling and servicing, or similar,agreement, for inclusion in these reports is included in these reports;

4.     Based onmy knowledge and upon the annual compliance statement included in the reportand required to be delivered to the trustee in accordance with the terms of thepooling and servicing, or similar, agreement, and except as disclosed in thereports, the servicer has fulfilled its obligations under the servicingagreement; and

5.     Thereports disclose all significant deficiencies relating to the servicer’scompliance with the minimum servicing standards based upon the report providedby an independent public accountant, after conducting a review in compliancewith the Uniform Single Attestation Program for Mortgage Bankers or similarprocedures, as set forth in the pooling and servicing, or similar, agreement,that is included in these reports.

Date:March 30, 2005

 

/s/ JOHN F. REMONDI

John F. RemondiPresidentSLM Funding LLC,

as the Depositor of the SLM Student Loan Trust 2000-3

 

 

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**CERTIFICATION**

I, C. E.Andrews, certify that:

1.     I havereviewed this annual report on Form 10-K, and all reports on Form 8-Kcontaining distribution or servicing reports filed in respect of periodsincluded in the year covered by this annual report, of SLM Student Loan Trust2000-3;

2.     Based onmy knowledge, the information in these reports, taken as a whole, does notcontain any untrue statement of a material fact or omit to state a material factnecessary to make the statements made, in light of the circumstances underwhich such statements were made, not misleading as of the last day of theperiod covered by this annual report;

3.     Based onmy knowledge, the distribution or servicing information required to be providedto the trustee by the servicer under the pooling and servicing, or similar,agreement, for inclusion in these reports is included in these reports;

4.     Based onmy knowledge and upon the annual compliance statement included in the reportand required to be delivered to the trustee in accordance with the terms of thepooling and servicing, or similar, agreement, and except as disclosed in thereports, the servicer has fulfilled its obligations under the servicingagreement; and

5.     Thereports disclose all significant deficiencies relating to the servicer’scompliance with the minimum servicing standards based upon the report providedby an independent public accountant, after conducting a review in compliancewith the Uniform Single Attestation Program for Mortgage Bankers or similarprocedures, as set forth in the pooling and servicing, or similar, agreement,that is included in these reports.

Date:March 30, 2005

 

/s/ C.E. ANDREWS

C.E. AndrewsChief Financial OfficerSLM Funding LLC,as the Depositor for SLM Student Loan Trust 2000-3

 

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**INDEX TO EXHIBITS**

 
| **Exhibit   Number** | ** ** | **Exhibit**                                                            | ** ** | **Sequentially  Numbered  Page** | ** ** |
|----------------------|------------|------------------------------------------------------------------------|------------|----------------------------------|------------|
| 19.1                 |       | Annual Statements of  Compliance of the Administrator and the Servicer |       |                             |       |
| 19.2                 |       | Annual Independent  Certified Public Accountant’s Report          |       |                             |       |

 

 

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