| 1. | Services to Be      Performed. |
|----|--------------------------------|

|   | The      Service Provider shall perform the services described in Exhibit A (“the      Services”) for Customer as an independent contractor on a non-exclusive      basis.  Unless stated explicitly, nothing contained herein shall      be deemed to create any partnership, joint venture, or relationship of      principal and agent between the parties hereto or any of their affiliates      or subsidiaries, or to provide either party with any right, power or      authority, whether express or implied, to create any duty or obligation on      behalf of the other party.  Such Services shall be rendered in a      professional manner and shall meet acceptable quality measurements,      performance levels, and other standards as the parties may agree upon from time to      time. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Subcontractors. |
|----|-----------------|

|   | The      Service Provider may retain a subcontractor or subcontractors to perform      any number of Services on behalf of the Customer with the Customer’s      approval.  The Service Provider will be responsible for the      subcontractor’s actions and shall ensure that the subcontractor(s) is      subject to and complies with all of the terms and conditions of this      Agreement.  If the Service Provider retains a subcontractor or      subcontractors, the Service Provider remains responsible for compliance      with laws, regulations, policies, procedures and quality      standards. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Fees and      Expenses. |
|----|-------------------------|

| (a)   | As      compensation for the Services, the Customer shall pay to the Service      Provider the fees as set forth in this Agreement and/or such other      exhibits made part of this Agreement.  All fees will not exceed      the fair value of the Services.  All invoices shall be paid      within thirty (30) days from receipt of periodic invoices.  All      invoices submitted to the Customer shall itemize the Services provided and      the corresponding fees charged in accordance with the fee schedules set      forth in this Agreement as Exhibit B.    In accordance      with the express terms of this paragraph and Paragraph 20 of this      Agreement, Service Provider and Customer acknowledge that Customer shall      be solely responsible for compensation of the Services      provided. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | The      parties acknowledge that certain costs and expenses of the Service      Provider may increase or decrease at times throughout the term of this      Agreement.  The parties also recognize that this Agreement may      be in force for a considerable period of time and it is impractical to      construct an automatic cost adjustment provision into the      Agreement. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | In      the event the Customer does not accept the proposed modification in fees      or expenses, it shall provide written notification to the Service Provider      within thirty (30) days of its receipt of Service Provider’s notice of the      proposed increase.  If the parties thereafter fail to reach      agreement on an increase or modification of the Service Fees, the Service      Provider may, within 90 days after giving its notice of increase to      Customer, give written notice of termination of this      Agreement.  The termination will take effect 270 days after the      Service Provider’s notice of increase, or such other date as is mutually      agreed to by the parties.  Notwithstanding Customer’s      non-acceptance of the fee increase, Service Provider’s proposed      modification in fees or expenses shall take effect 180 days after Service      Provider’s notice of termination and such amended pricing shall be in      effect from that date until this Agreement is  terminated. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | In      the event that a notice period or time period for termination of this      Agreement shall extend beyond the termination date or any subsequent      termination date described in Paragraph 5 (a), the termination date of      this Agreement will be the later of thedates. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | Responsibilities of      the Parties. |
|----|---------------------------------------|

| (a)   | The      Service Provider shall perform the Services subject to applicable laws,      regulations, policies, procedures, quality measurements, performance      levels, and other standards as described in Exhibit C.  The      Customer and Service Provider may amend Exhibit C at any time upon mutual      consent to include those quality measurements, performance levels, and      other standards reasonably necessary to guide the Service Provider in its      performance of the Services required by the Agreement. In addition, in the      case of a significant and unusual event, the Customer and Service Provider      can negotiate a temporary adjustment to the affected service standards and      fees that may result.  The Service Provider may require that the      Customer pay additional fees if the required additional services      materially increase Service Provider’s cost of providing the Services, in      accordance with the procedure set forth in Paragraph  3. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | The      Customer retains the processes and functions not set forth on Exhibit      A,.    Service Provider and Customer may amend Exhibit      A upon mutual agreement or if necessary to facilitate Service Provider’s      performance of the Services required by this  Agreement. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Term and      Termination. |
|----|----------------------------|

| (a)   | This      Agreement will be for a term of 1 year from the date hereof; provided      however, that this Agreement will be extended for successive one (1) year      periods unless either party, by written notice to the other, shall give at      least 180 days prior notice of its intention to terminate the Agreement at      the end of the current contract year, in which case there shall be no      automatic extension.  Termination in accordance with this      paragraph will be without penalty to either party.  Both parties      will remain responsible for their respective obligations with regard to      actions, events, and services received or rendered prior to the date such      termination becomes effective. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Either      party shall have the right to immediately terminate this Agreement by      giving the other  written notice if  (i) a person      owning more than 50% of the voting shares of the other party ceases to own      more than 50% of the voting shares of the other party; (ii) the other      party shall be wound up, go into liquidation, or for any other reason      shall cease or threaten to cease to carry on its business or shall      transfer its business; (iii) a decree or order by a court or governmental      agency or authority shall be entered for the appointment of a conservator,      receiver or liquidator for the other party in an insolvency, readjustment      of debt, marshaling of assets and liabilities or similar proceeding, or      the other party shall consent to such appointment.  Termination      under this subparagraph shall be effective 270 days after Customer’s      written notice to Service Provider, and upon 270 days after Service      Provider’s written notice toCustomer. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | If      either party materially breaches the terms or duties imposed upon it by      this Agreement, the non-breaching party may, at its option, give the other      party at least thirty (30) days written notice of the      breach.  The notice shall specify the nature of the      breach.  If, at the end of the notice period, the breaching      party has not remedied the breach then the Agreement may be terminated by      the non-breaching party by notice given within 90 days after the      expiration of the notice period specifying a termination date satisfactory      to the non-breaching party, provided however, that any termination under      this paragraph shall not prejudice the rights of either party against the      other. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | In      the event that any notice period or time period for termination of this      Agreement under any subparagraph of this Paragraph 5 shall extend beyond      the termination date or any subsequent termination date described in      Paragraph 5 (a), the termination date of this Agreement will be the later      of the respective dates. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | Compliance with      Laws. |
|----|----------------------------|

|   | Each      party hereto agrees that it shall comply with all applicable federal,      state and local laws, ordinances, codes and regulations in the performance      of its obligations or receipts of Services under this Agreement, including      obtaining the necessary permits and certificates where      required.  The parties agree to comply with all laws and      executive orders relating to equal opportunity or non-discrimination as      applicable.  If at any time during the term of this Agreement, a      party is informed or information comes to its attention that it is or may      be in violation of any law, ordinance or code (or if it is so determined      by any court, tribunal or other authority), that party shall immediately      take all appropriate steps to remedy such violation and comply with such      law, regulation, ordinance or code in all respects.  Further,      each party shall establish and maintain all proper records (particularly,      but without limitation, accounting records) required by any law, code of      practice or corporate policy applicable to it from time to      time. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | Audit. |
|----|--------|

|   | Customer      shall have the right, during normal business hours, to inspect Service      Provider’s books and records that pertain to the Services rendered in      order to verify the amount and calculation of such      fees.  Service Provider shall keep adequate records of its      Services hereunder.  Each party shall pay its own respective      costs and expenses in connection with this provision.  Customer      shall have the same right, during normal business hours, to inspect,      audit, and confirm Service Provider’s compliance with the laws,      regulations, policies, procedures, and service quality standards set forth      in Exhibit C and as such may be amended from time to  time. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | Indemnification. |
|----|------------------|

| (a)   | Each      party to this Agreement shall indemnify and hold harmless the other party      and any of its directors, officers, employees, agents, and subcontractors      from and against any action or threatened action, suit or proceeding      arising out of or as a result of, the indemnifying party's performance      under this Agreement and against any and all claims, expenses, losses or      damages (including reasonable attorneys' fees that result from the actions      or inaction of the indemnifying party); provided, however, that in no      event shall a party to this Agreement be obligated for any claims,      expenses, losses, or damages resulting from the negligent or willful acts      or omissions of the other party, its agents, employees or      subcontractors. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | A      party seeking indemnification under this Agreement shall (i) give prompt      written notice to the indemnifying party as to the existence of the      indemnifiable event, (ii) provide such information, cooperation and      assistance as may reasonably be necessary for the defense of such action      or claim and (iii) grant full authority to the indemnifying party to      defend or settle such action or claim.  A party seeking      indemnification shall not compromise or settle any action or claim without      the consent of the indemnifyingparty. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | In      the event that Service Provider shall take any action in connection with      the Services or other responsibilities under this Agreement (whether or      not such action constitutes negligence), or fails to take any action      required under this Agreement which causes any serviced loan in Customer’s      portfolio to require an interest or principal adjustment, or to be denied      the benefits of any applicable guaranty or insurance, Service Provider      shall have a reasonable time to cause such benefits to be      reinstated.  If such benefits are not reinstated within 4 months      of denial or termination of guaranty or insurance benefits, Service      Provider shall, subject to the limitations of subparagraphs (d), (e), (f)      and (g) of this Paragraph 8, pay to Customer an amount equal to the      outstanding principal balance plus all accrued interest through the date      of the original loss of benefits, less the amount subject to any lender      risk sharing under either the FFEL program or any private      program. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | Service      Provider and Customer acknowledge that servicing errors can occur during      the ordinary course of business which can cause loss of guaranty or      insurance benefits, operating losses and interest adjustments and are      included within the pricing set forth in Exhibit B.  Service      Provider’s liability arising under Paragraph 8(c) shall begin to accrue      when operating losses that are directly attributable to the Service      Provider’s actions, on an annual basis (calculated monthly), exceed .026      of 1% (2.6 basis points) times the average dollar balance of Education      Loans in repayment status; and when Adjustment and Refunds on an annual      basis (calculated monthly) exceed .018 of 1% (1.8 basis points) times the      average dollar balance of Education Loans in repayment    status. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | Service      Provider’s maximum liability for a Single Occurrence (as defined below)      shall be limited to an amount equal to the average of monthly compensation      paid to date during the term of this Agreement.  Service      Provider’s maximum liability for indemnification for multiple Single      Occurrences under this Paragraph 8 during any one calendar year shall be      limited to an amount equal to the total compensation paid by Customer to      Service Provider for the calendar year.  In the event the total      number of months during the calendar year is less than twelve, the maximum      liability shall not exceed the average of monthly compensation multiplied      by twelve.  For purposes herein, the term “Single Occurrence”      shall mean an event pursuant to which losses resulting from a single      action or inaction do not exceed the average monthly compensation paid to      date by Customer to Service Provider during the term of this      Agreement.  Service Provider shall pay to Customer any amounts      owed under this subparagraph (e) within 90 days of the date on which a      final determination is made regarding Customer’s right to indemnification      hereunder. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f)   | Service      Provider’s liability for indemnification for a “Castastrophic Event” (as      defined below) under this Paragraph 8 shall not be limited to the average      of monthly compensation paid to date by Customer to Service Provider      during the term of this Agreement.  Instead, Service Provider      shall compensate Customer for all losses resulting from the Catastrophic      Event within 90 days of the date on which a final determination is made      regarding Customer’s right to indemnification hereunder, provided,      however, that, Service Provider shall increase the fees charged Customer      under Paragraph 3 herein by an incremental ten percent (10%), until such      time as Service Provider has been fully compensated by such incremental      ten percent (10%) for the losses incurred hereunder which are in excess of      the average of monthly compensation resulting from the Catastrophic      Event.  For purposes herein, the term “Catastrophic Event” shall      mean an event pursuant to which losses, incurred from a Single Occurrence      or loss that may relate to a recurring series of losses which are the      result of a single action or inaction, exceed the average monthly      compensation owed by Customer to Service Provider paid to date during the      term of this Agreement. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                     (g) | In      the event of a termination of this Agreement prior to the full repayment      of any amounts owed under this Paragraph 8, Customer agrees to pay a      termination fee to Service Provider taking into consideration any amounts      of unpaid balance owed by either party to the other under the terms of      this Paragraph 8. |
|-----------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (h)   | Any      remedies for breach by Service Provider shall be limited to this Paragraph      8.  In no event shall Service Provider be liable under any      theory of tort, contract, strict liability or other legal or equitable      theory for any lost profits, exemplary, punitive, special, incidental,      indirect or consequential damages, each of which is hereby excluded by      agreement of the parties.  Any action for the breach of any      provision of this Agreement shall be commenced within one (1) year from      the date of such breach. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i)   | Notwithstanding      anything to the contrary set forth in this Paragraph 8, with respect only      to the services to be performed which are set forth in Schedule 2 of      Exhibit A attached hereto, Service Provider provides no guarantee to      Customer for such services performed by a third party vendor, nor is      Service Provider responsible for any losses incurred by Customer due to      third-party vendor performance; however, the indemnification provisions      set forth in Paragraph 8 of this Agreement shall remain effective in all      respects with respect to any additional services to be performed by the      Service Provider for Customer set forth in Schedule 2 to Exhibit A to this      Agreement.  Each of the parties hereto acknowledge and agree      that Service Provider shall indemnify Customer and Citibank for any claims      arising out of or as a result of Service Provider’s performance of all      such additional services or the failure to perform such additional      services, all as more particularly set forth in Paragraph 8 of this      Agreement. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9. | Confidentiality. |
|----|------------------|

|   | The      Customer and the Service Provider agree that all information provided      pursuant to this Agreement by each party to the other party is      confidential and proprietary information of the disclosing party,      including non-public personal information regarding customers of Service      Provider, Customer or Citibank. No party shall use any      information provided by the other party for any purpose other than as      permitted or required for performance under this Agreement or as provided      by applicable law, including without limitation, the provisions of Title V      of the Gramm-Leach-Bliley Act (P.L. 106-102).  Each party agrees      not to disclose or provide any information provided by the other party to      any third party, with the exception of (i) directors, officers, employees,      attorneys, and auditors (collectively “employees”) of the party or its      affiliates or subsidiaries who have a need to know in the course of      performing, receiving, or reviewing the performance of Services under this      Agreement and are bound to retain the confidentiality of the information,      and (ii) vendors, subcontractors, and other service providers      (collectively “vendors”) who are necessary for the Service Provider to      provide services to the Customer or for the Customer to coordinate its      operation with those of the Service Provider under this Agreement, and are      bound to retain the confidentiality of the information without the express      written consent of the other party, and each party agrees to take all      reasonable measures, including, without limitation, measures taken by each      party to safeguard its own confidential information to prevent any such      disclosure by employees and vendors.  In no event shall the      Customer divulge to any third party the contents in any invoices/charge      documentation that it receives from the Service Provider without the      written consent of the Service Provider, except as otherwise provided by      law or regulation.  Nothing provided herein shall prevent any      party from disclosing information to the extent the information (i) is or      hereafter becomes part of the public domain through no fault of that      party; (ii) is rightfully received from or furnished to a third party      without similar restriction of the third party's rights; (iii) is      independently developed by it; (iv) is disclosed pursuant to requirements      of law; or (v) is already known to it.  If either party hires      another person to assist it in the performance of this Agreement, or      assigns any portion of its responsibilities or obligations under this      Agreement to another person, the assigning or delegating party shall cause      its assignee or delegate to be bound to retain the confidentiality of the      information. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10. | Assignment. |
|-----|-------------|

|   | Either      party may assign any of its rights or delegate any of its obligations or      responsibilities under this Agreement with the prior written consent of      the other, which consent shall not to be unreasonably      withheld.  The parties expressly anticipate that either party      may assign such obligations and responsibilities to any of its      subsidiaries or affiliates having reasonably adequate resources to perform      the obligations and undertake the responsibilities under this      Agreement.  All assignments shall be evidenced by an assignment      document executed in a form to be provided by the Customer.  All      terms and conditions of this Agreement shall be binding upon and shall      inure to the benefit of the parties hereto and their successors and      authorized assigns, and no other person or entity shall have any rights or      beneficial interests herein orhereunder. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11. | Corporate Authority;      Further Assurances. |
|-----|-----------------------------------------------|

| (a)   | Each      party presents and warrants that the execution and performance of this      Agreement is authorized by its charter or certificate of incorporation and      by its board of directors and that this Agreement has been duly executed      by its officer so authorized, and agrees to furnish the other party with      satisfactory evidence of same upon request.  Each party agrees      to negotiate in good faith the execution of such other documents or      agreements as may be necessary or desirable for the implementation of this      Agreement and the effective execution of the transactions contemplated      hereby, and will continue to do so during the term of this      Agreement. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Each      party represents that there are no actions, suits or proceedings existing,      pending, or to the knowledge of either party threatened against or      affecting either party before any court, arbitrator, governmental or      administrative body or agency, that might affect the validity or      enforceability of this Agreement or that might result in any materially      adverse effect on either party's ability to perform its obligations      hereunder.  The performance of this Agreement by each party will      not violate, result in breach of, or conflict with (i) its charter,      certificate of incorporation, by-laws or any agreement to which it is a      party or will be bound, and (ii) any law, rule, regulation, order,      judgment, or decree binding on suchparty. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12. | Notices. |
|-----|----------|

|   | All      notices and other communications under this Agreement, (including any      invoices) shall be sent prepaid to the appropriate party at the following      address via overnight delivery service, inter-office courier, United      States Postal Service, or by facsimile or other electronic mail if the      party includes its facsimile or electronic mail address    below: |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13. | Contingency      Plan. |
|-----|------------------------|

| 14. | Regulatory. |
|-----|-------------|

|   | Each      party agrees that at the request of the other it will permit the banking      or other state or federal supervisors, applicable FFEL program guaranty      agencies, and applicable insurance companies to examine the servicing      relationship between the parties pursuant to this Agreement and the      performance of and the records of theServices. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 15. | Entire      Agreement. |
|-----|------------------------|

|   | This      Agreement is the sole agreement between the parties with respect to the      provision of the Services, and supersedes all prior oral or written      agreements for the Services.  This Agreement may be signed in      counter-parts, either in original form or in the form of facsimile copies,      all of which taken together shall constitute one    instrument. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16. | Amendment. |
|-----|------------|

|   | This      Agreement, including all Exhibits and Schedules, may be modified only by a      written agreement signed by each of the parties      hereto.  Notwithstanding the requirement that all amendments be      in writing, amendments to this Agreement, its Exhibits or Schedules, may      take the form of electronic communication between the parties through      their respective authorized representatives.  Such amendments      may be deemed signed by electronic means through an electronic message of      acknowledgment in a form agreeable to the  parties. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17. | Force      Majeure. |
|-----|---------------------|

|   | Neither      party shall be liable for delays or failure in its performance hereunder      caused by any act of God, war, strike, labor dispute, work stoppage, fire,      act of government, or any other cause, whether similar or dissimilar,      beyond the control of that party and beyond COB planning      requirements. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18. | Severability. |
|-----|---------------|

|   | If      any provision of this Agreement is deemed to be illegal, invalid or      unenforceable for any reason, the remaining provisions of this Agreement      shall be unaffected, and this Agreement shall continue in full force and      effect unless such provision was an essential element of the agreement of      the parties or the enforcement of the remaining provisions would place an      unfair or disproportionate burden on or result in an unfair enrichment of      one of the parties. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19. | Governing      Law. |
|-----|---------------------|

|   | This      Agreement will be governed by and construed in accordance with the      internal laws of the State of SouthDakota. |
|--------|------------------------------------------------------------------------------------------------------------------------------|

|  Citibank, NA., as                             |   |   |  Citibank      (South Dakota), N.A. |   |
|-----------------------------------------------------|--------|--------|------------------------------------------|--------|
|  Trustee      for The Student Loan Corporation |   |   |                                     |   |
|                                                |   |   |                                     |   |
| /s/Valerie      Delgado                             |   |   | /s/      Kendall E. Stork                |   |
| Valerie      Delgado                                |   |   | Kendall      E. Stork                    |   |
| Vice      President                                 |   |   | President                                |   |

|  The Student Loan Corporation |   |   |   |   |
|------------------------------------|--------|--------|--------|--------|
|                               |   |   |   |   |
|                               |   |   |   |   |
| /s/Michael      J. Reardon         |   |   |   |   |
| Michael      J. Reardon            |   |   |   |   |
| President      and CEO             |   |   |   |   |

| PROCESS                                                                               | STANDARD                                                                                          | %      IN STD | QUALITY      FACTOR |
|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------|---------------|---------------------|
| ORIGINATION                                                                           |
|                                                                                       |
| Origination      Document on system (Data Entry)                                      | 1      business day                                                                               | 99%           | 99%                 |
|                                                                                       |                                                                                                   |               |                     |
| Resets                                                                                | 2      business days                                                                              | 98%           | 99%                 |
|                                                                                       |                                                                                                   |               |                     |
| Non      Origination Documents on the System (Data Entry)                             | Acknowledgements      3 business daysDoc      Locs 8 business daysReferences      8 business days | 98%           | 99%                 |
|                                                                                       |                                                                                                   |               |                     |
| CitiAssist      Applications                                                          | 3      days                                                                                       | 85%           | 98%                 |
|                                                                                       |                                                                                                   |               |                     |
| FFELP      (Stafford and Plus)                                                        | 5  days                                                                                 | 90%           | 98%                 |
|                                                                                       |                                                                                                   |               |                     |
| FFELP      Plus Pre Screen                                                            | 1      hour                                                                                       | 95%           | 98%                 |
|                                                                                       |                                                                                                   |               |                     |
| Document      Control                                                                 | Quality      Only - Timeliness included in DE Standard                                            | N/A           | 99%                 |
|                                                                                       |                                                                                                   |               |                     |
| Problem      Applications                                                             | 5      business days                                                                              | 98%           | 98%                 |
|                                                                                       |                                                                                                   |               |                     |
| Loan      Consolidation – Outgoing Lender Verification Certificates      (LVCs) | 10      business days                                                                             | 100%          | 98%                 |
|                                                                                       |                                                                                                   |               |                     |
| Underwriting      Credit Review – Manual                                        | 2      business days                                                                              | 95%           | 98%                 |
|                                                                                       |                                                                                                   |               |                     |
| Underwriting      Correspondence Inquiries                                            | 5      business days                                                                              | 98%           | 98%                 |
|                                                                                       |                                                                                                   |               |                     |
| Underwriting      Verifications                                                       | 2      business days                                                                              | 100%          | 98%                 |
|                                                                                       |                                                                                                   |               |                     |
| Loan      Consolidation – CLASS Application Review                              | 5      business  days                                                                   | 98%           | 98%                 |
|                                                                                       |                                                                                                   |               |                     |
| Investigations                                                                        | 10      days                                                                                      | 90%           | 97%                 |
| CASH      DISBURSEMENT UNIT                                                           |
| Check      and Mastercheck Disbursements sent (includes    reconcilements)            | End      of next business day                                                                     | 98%           | N/A                 |
|                                                                                       |                                                                                                   |               |                     |
| EFT      Disbursements                                                                | End      of next business day                                                                     | 98%           | N/A                 |
|                                                                                       |                                                                                                   |               |                     |
| Cancellations      / Refunds                                                          | 1      business day                                                                               | 99%           | 98%                 |
| CUSTOMER      SERVICE PHONES                                                          |
| Customer      Service Phone Calls                                                     | Answered      in 20 seconds                                                                       | 80%           | 96%                 |
|                                                                                       |                                                                                                   |               |                     |
| Abandoned      Calls                                                                  | 2%                                                                                                | N/A           | N/A                 |
|                                                                                       |                                                                                                   |               |                     |
| Average      Seconds to Answer (ASA)                                                  | 20      seconds                                                                                   | N/A           | N/A                 |

| PROCESS                                                     | STANDARD                                                                             | %      IN STD | ACCURACY      STANDARD |
|-------------------------------------------------------------|--------------------------------------------------------------------------------------|---------------|------------------------|
| CUSTOMER      SERVICE PAPER                                 |
|                                                             |
| Service      Inquiries (Correspondence and Address Changes) | 5      days                                                                          | 98%           | 97%                    |
|                                                             |                                                                                      |               |                        |
| Internet      Correspondence Response – Front End     | 24      hours                                                                        | 98%           | 97%                    |
|                                                             |                                                                                      |               |                        |
| Investigations      (Levels I, II, III, V, and VI)          | 10      days                                                                         | 90%           | 97%                    |
|                                                        |                                                                                 |          |                   |
|                                                             |                                                                                      |               |                        |
| SSCRs      processed – Manual                         | 25      days                                                                         | 95%           | 97%                    |
|                                                             |                                                                                      |               |                        |
| Grad      Date Rejects – Borrower initiated           | 5      days                                                                          | 95%           | 97%                    |
|                                                             |                                                                                      |               |                        |
| Grad      Date Rejects – Non Borrower initiated       | 25      days                                                                         | 95%           | 97%                    |
|                                                             |                                                                                      |               |                        |
| Manifest      Rejects                                       | 25      days                                                                         | 95%           | 97%                    |
|                                                             |                                                                                      |               |                        |
| Credit      Disputes / Appeals                              | 7      days                                                                          | 98%           | 97%                    |
|                                                             |                                                                                      |               |                        |
| Deferment      Processing                                   | 5      days                                                                          | 95%           | 97%               |
|                                                             |                                                                                      |               |                        |
| Pre-claim      Rejects                                      | 30      days                                                                         |  98%     | 97%                    |
|                                                             |                                                                                      |               |                        |
| Delinquent      Claim Review                                | 330      days                                                                        | 98%           | 97%                    |
|                                                             |                                                                                      |               |                        |
| Death      and Disability Claims                            | 45      days                                                                         |  98%     | 97%                    |
|                                                        |                                                                                 |          |                   |
|                                                             |                                                                                      |               |                        |
| Claims      Payments                                        | 30      days                                                                         |  98%     | 97%                    |
|                                                             |                                                                                      |               |                        |
| Bankruptcy      Claims                                      | 30      days                                                                         |  100%    | 97%                    |
|                                                        |                                                                                 |          |                   |
|                                                             |                                                                                      |               |                        |
| Return      Claims- Non Bankruptcy                          | 30      days                                                                         | 80%           | 97%                    |
|                                                             |                                                                                      |               |                        |
| Return      Claims – Bankruptcy                       | 30      days                                                                         | 100%          | 97%                    |
|                                                        |                                                                                 |          |                   |
|                                                             |                                                                                      |               |                        |
| Supplemental      Claims                                    | 30      days                                                                         |  98%     | 97%                    |
|                                                             |                                                                                      |               |                        |
| Private      Loan Delinquent Claim Review                   | 180      days                                                                        | 98%           | 97%                    |
| RISK                                                        |
|                                                             |
| Outbound      Collection Calls                              | Minimum      of 1 call per bucket if contact, 2 calls per bucket if no      contact. | 100%          | 97%                    |
|                                                             |                                                                                      |               |                        |
| Inbound      Collection Calls                               | Answered      in 20 seconds                                                          | 80%           | 97%                    |
|                                                             |                                                                                      |               |                        |
| Skip      Trace                                             |  10      days from notification                                                 | 100%          | 97%                    |
|                                                             |                                                                                      |               |                        |
| Recovery      Cure Process                                  | 150      days                                                                        | 100%          | 97%                    |