Student loan lender SLM Corp. is coming to market with a $2.2 billion transaction that, in a first for the lender, is secured by consolidated private student loans and direct-to-consumer (DTC) loans.

The transaction, SLM Private Credit Student Loan Trust 2007-A, is Sallie Mae's fourth issuance this year, according to Fitch Ratings. Private consolidated student loans comprise about 9.8% of the trust, while DTC loans comprise 9.4%.

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