Fitch Affirms Senior and Subordinate Notes of SLM Student Loan Trust, Series 2003-6

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings affirms both the senior and subordinate student loan notes at 'AAAsf' issued by SLM Student Loan Trust series 2003-6. The Rating Outlook on the senior and subordinate notes, which is tied to the sovereign rating of the U.S. government, remains Negative.

The ratings on the senior and subordinate notes are affirmed based on the sufficient level of credit to cover the applicable risk factor stresses. Credit enhancement for the senior and subordinate notes consists of overcollateralization and projected minimum excess spread, while the senior notes also benefit from subordination provided by the class B notes.

Fitch has taken the following rating actions:

SLM Student Loan Trust, Series 2003-6:

--Class A-4 affirmed at 'AAAsf'; Outlook Negative;

--Class B affirmed at 'AAAsf'; Outlook Negative.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (June 6, 2012);

--'Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria' (April 3, 2012).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=675202

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Source: Fitch Ratings