**Exhibit 99.2**

 

**March 30, 2006**

** **

Sallie Mae, Inc.

12061 Bluemont Way

Reston, VA 20190

 

and

 

Chase Manhattan BankUSA, National Association

Christiana Center/Ops4

500 Stanton ChristianaRoad

Newark, DE 19713

 

and

 

Deutsche Bank Trust Company Americas

60 Wall Street, 26Floor

New York, New York10005

 

### **Report of Independent Accountants**

### ** **

# SLM Student Loan Trust 2005-2

 

We have examined management’s assertion included in the accompanyingreport titled *Report of Management on Compliance byAdministrator*, that Sallie Mae, Inc. (the “Company”) complied,in all material respects, with the terms and conditions of Sections 2.3(a)(1),2.3(a)(2), 2.4, 2.6(a), 2.7(a), 2.7(b), 2.7(c), 2.9(a), 2.9(b), 2.11, 3.1(b),3.1(c), 3.1(d), 3.2(a), 3.2(c) and 3.2(d) of the AdministrationAgreement among the Company, Chase Manhattan Bank USA, National Association,Deutsche Bank Trust Company Americas and Sallie Mae, Inc., as Servicer (the“Agreement”) pursuant to the SLM Student Loan Trust 2005-2, for the period February 15,2005 through December 31, 2005. The Company’s****managementis responsible for the assertion. Our responsibility is to express an opinionon the assertion based on our examination.

 

Our examination was conducted in accordance with attestation standardsestablished by the American Institute of Certified Public Accountants and,accordingly, included examining, on a test basis, evidence supportingmanagement’s assertion and performing such other procedures as we considerednecessary in the circumstances. We believe that our examination provides areasonable basis for our opinion.

 

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In our opinion, management’s assertion that the Company complied withthe aforementioned requirements during the period February 15, 2005 through December 31, 2005 is fairlystated, in all material respects.

 

This report is intended solely for the information and use ofmanagement, the board of directors, Chase Manhattan Bank USA, NationalAssociation and Deutsche Bank Trust Company Americas and is not intended to beand should not be used by anyone other than these specified parties.

 
| Very truly yours,          |
|----------------------------|
|                       |
| /s/ PRICEWATERHOUSECOOPERS |   |

 

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## **Report ofManagement on Compliance by Administrator**

 

I acknowledge that as a member of management of Sallie Mae, Inc. (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(a), 2.7(a), 2.7(b),2.7(c), 2.9(a), 2.9(b), 2.11, 3.1(b), 3.1(c), 3.1(d), 3.2(a), 3.2(c) and3.2(d) of the Administration Agreement among the Company, Chase ManhattanBank USA, National Association, Deutsche Bank Trust Company Americas and SallieMae, Inc., as Servicer, (the “Agreement”) pursuant to the SLM Student LoanTrust 2005-2. We are also responsible forestablishing and maintaining effective internal control over compliance withthe terms and conditions of the Agreement.

 

We have performed an evaluation of the Company’s compliance with theconditions of the Sections in the Agreement indicated above. Based on theevaluation, we assert that the Company complied, in all material respects, withthe terms and conditions of the Sections in the Agreement indicated above forthe period February 15, 2005 throughDecember 31, 2005.

 

March 30, 2006

 
|                   |
|------------------------|
| /s/ J. Lance Franke    |   |
| J. Lance Franke        |   |
| Senior Vice President, |
| Sallie Mae, Inc.  |

 

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**March 30, 2006**

 

Sallie Mae, Inc.

12061 Bluemont Way

Reston, VA 20190

 

and

 

Chase Manhattan BankUSA, National Association

Christiana Center/Ops4

500 Stanton ChristianaRoad

Newark, DE 19713

 

and

 

Deutsche Bank TrustCompany Americas

60 Wall Street, 26Floor

New York, New York10005

 

**Report of Independent Accountants**

 

### **SLMStudent Loan Trust**2005-2

 

We have examined management’s assertion, included in the accompanyingreport titled *Report of Management on Compliance byServicer*, that Sallie Mae, Inc., (the “Company”) complied, inall material respects, with the terms and conditions of the following:

 

•                  Sections2.2, 2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, and 3.10 of the ServicingAgreement.

•                  Pursuantto Section 3.15 of the Servicing Agreement; Sections 2.4, 2.5A, 2.6A,2.6B, 3.1A, and 3.2B of the Administration Agreement.

 

The Servicing Agreement exists among the Company, Chase Manhattan BankUSA, National Association, Deutsche Bank Trust Company Americas, and Sallie Mae, Inc.,as Administrator, (the “Agreement”) pursuant to the SLM Student Loan Trust 2005-2, for the period February 15, 2005 through December 31, 2005. The Company’smanagement is responsible for the assertion. Our responsibility is to expressan opinion on the assertion based on our examination.

 

Our examination was conducted in accordance with attestation standardsestablished by the American Institute of Certified Public Accountants and,accordingly, included examining, on a test basis, evidence supportingmanagement’s assertion and performing such other procedures as

 

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we considered necessary in the circumstances. We believe that ourexamination provides a reasonable basis for our opinion. Our examination doesnot provide a legal determination on the Company’s compliance with specifiedrequirements.

 

In our opinion, management’s assertion that the Company complied withthe aforementioned requirements during the period February 15, 2005 through December 31, 2005 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 |   |

 

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###### **Report of Management on Compliance byServicer**

 

I acknowledge that as a member of management of Sallie Mae, Inc.,(the “Company”), we are responsible for ensuring compliance with the terms andconditions of the following:

 

•                  Sections2.2, 2.3, 3.1, 3.2A, 3.2B, 3.2C, 3.5A, 3.6, and 3.10 of the ServicingAgreement.

•                  Pursuantto Section 3.15 of the Servicing Agreement; Sections 2.4, 2.5A, 2.6A,2.6B, 3.1A, and 3.2B of the Administration Agreement.

 

The Servicing Agreement exists among theCompany, Chase Manhattan Bank USA, National Association, Deutsche Bank TrustCompany Americas, and the Sallie Mae Inc., as Administrator, (the “Agreement”)pursuant to the SLM Student Loan Trust 2005-2.We are also responsible for reviewing and ensuring implementation of, andongoing compliance with, effective internal control over compliance with theterms and conditions of the Agreement.

 

On an ongoing basis we evaluate the Company’s compliance with the termsand conditions of the Sections in Agreement indicated above. Based on thismanagement oversight and evaluation, we assert that the Company complied, inall material respects, with the terms and conditions of the Sections in theAgreement indicated above for the period February 15,2005 through December 31, 2005.

 

March 30, 2006

 
|                    |
|-------------------------|
| /s/ JOHN F. WALLERSTEDT |   |
| John F. Wallerstedt     |
| Vice President,         |
| Sallie Mae, Inc.   |

 

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