NEW YORK -- Fitch Ratings assigns ratings to the following Student Loan Asset-Backed Notes issued by NorthStar Education Finance, Inc.:

Ratings for new issuance:

--$295,000,000 floating-rate senior series 2004-2A-1 notes 'AAA';

--$150,000,000 floating-rate senior series 2004-2A-2 notes 'AAA';

--$280,000,000 floating-rate senior series 2004-2A-3 notes 'AAA';

--$249,500,000 floating-rate senior series 2004-2A-4 notes 'AAA';

--$25,500,000 auction-rate subordinate series 2004-2B notes 'A'.

Ratings affirmed for existing debt:

--$100,000,000 floating-rate senior series 2004-1A-1 notes 'AAA';

--$225,000,000 floating-rate senior series 2004-1A-2 notes 'AAA';

--$200,000,000 floating-rate senior series 2004-1A-3 notes 'AAA';

--$225,000,000 floating-rate senior series 2004-1A-4 notes 'AAA';

--$66,000,000 auction-rate senior series 2004-1A-5 notes 'AAA';

--$66,000,000 auction-rate senior series 2004-1A-6 notes 'AAA';

--$44,000,000 auction-rate senior series 2004-1A-7 notes 'AAA';

--$44,000,000 auction-rate senior series 2004-1A-8 notes 'AAA';

--$30,000,000 auction-rate subordinate series 2004-1B notes 'A'.

--$65,500,000 senior series 2002A-1 notes 'AAA';

--$65,500,000 senior series 2002A-2 notes 'AAA';

--$65,500,000 senior series 2002A-3 notes 'AAA';

--$65,500,000 senior series 2002A-4 notes 'AAA';

--$65,500,000 senior series 2002A-5 notes 'AAA';

--$65,500,000 senior series 2002A-6 notes 'AAA';

--$37,000,000 subordinate series 2002B-1 notes 'A';

--$50,250,000 senior series 2000A-1 notes 'AAA';

--$50,250,000 senior series 2000A-2 notes 'AAA';

--$9,500,000 subordinate series 2000B-1 notes 'A'.