Exhibit
34.1
  
  Report
of Independent Registered Public Accounting Firm
 
 
 The Board
of Directors
 
 Pennsylvania
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, 2007-2, 2007-3,
and 2007-4 (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, 2008. For the period May 15, 2008 through June 30, 2008, we
did not test criteria 4(vii) and 4(viii) insofar as they relate to activities
required to be performed during the 31st through
60th
days of delinquency as these activities were performed by a third party after
May 15, 2008. 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, 2008 is fairly
stated, in all material respects.
 
 
 /s/ KPMG
LLP
 Harrisburg,
Pennsylvania
 August
28, 2008