STUDENT LOAN CORP
AMENDMENT NO.1 TO OMNIBUS CREDIT AGREEMENT
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<TYPE>EX-10.4.1
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<DESCRIPTION>AMENDMENT NO.1 TO OMNIBUS CREDIT AGREEMENT
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  <p align="right"><font size="2" face="Times New Roman"><b>Exhibit 10.4.1</b></font></p> <p align="center"> <font size="2" face="Times New Roman">AMENDMENT NO. 1 TO OMNIBUS CREDIT AGREEMENT</font></p> <p> <font
size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment No. 1 to Omnibus Credit Agreement is dated as of October 1, 2002 by and between Citibank (New York State), a banking corporation organized
under the laws of the State of New York, and its successors and assigns (collectively, &#147;CNYS&#148;), and The Student Loan Corporation, a corporation organized under the laws of the State of Delaware (&#147;STU&#148;). </font></p> <p
align="center"> <font size="2" face="Times New Roman">BACKGROUND:</font></p> <p> <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, each of CNYS and STU entered into an Omnibus Credit Agreement
dated as of November 30, 2000 (the &#147;Agreement&#148;) pursuant to which CNYS made available to STU various credit facilities; and</font></p> <p> <font size="2"
face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the parties hereto wish to increase the maximum aggregate amount of credit available to STU under the credit facilities provided by CNYS to STU under the
Agreement to $25.0 billion; and</font></p> <p> <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, all terms used herein and not otherwise defined shall have the meaning set forth in the
Agreement.</font></p> <p> <font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW THEREFORE, in consideration of the premises, mutual covenants and agreements contained herein and in the Agreement, and
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:</font></p> <p align="center"> <font size="2" face="Times New Roman">AGREEMENTS:</font></p>
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<td width="5%" valign="top"> <p> <font size="2" face="Times New Roman">1.</font></p> </td>
<td width="94%" valign="top"> <p> <font size="2" face="Times New Roman">Paragraph 1 of Part I of the Agreement shall be deleted in its entirety and the following shall be substituted in lieu thereof:</font></p> </td> </tr>
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<td width="5%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td width="94%" valign="top"> <p><font size="2" face="Times New Roman">This Omnibus Credit Agreement is intended to represent the rights, obligations and duties of the respective parties and to provide various credit facilities including Tranche A
(A Line of Credit Facility), Tranche B (A Term Note Credit Facility), Tranche C (A Multiple Long Term Facility), and Tranche D (A Fixed Rate Term Note Credit Facility).&#160; CNYS shall make available to STU credit as hereinafter described in an
aggregate amount of $25.0 billion.</font></p> </td> </tr>
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<td width="5%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td width="94%" valign="top"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td> </tr>
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<td width="94%" valign="top"> <p> <font size="2" face="Times New Roman">This Omnibus Credit Agreement does not supersede that certain agreement dated as of November 4, 1999, as amended (the &#147;November 4, 1999 Agreement&#148;), between CNYS and
STU which also provides certain credit facilities.&#160; Advances under the November 4, 1999 Agreement may continue to remain outstanding subject to the terms and maturities of that agreement and the respective promissory notes or may be refinanced
without prepayment penalty by an advance under this Omnibus Credit Agreement, provided however, that the aggregate credit facilities provided by the November 4, 1999 Agreement and this Omnibus Credit Agreement shall not exceed the maximum amount of
$25.0 billion.</font></p> </td> </tr>
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<td width="5%" valign="top"> <p> <font size="2" face="Times New Roman">2.</font></p> </td>
<td width="94%" valign="top"> <p> <font size="2" face="Times New Roman">Except as otherwise modified herein, all terms and conditions of this Amendment No. 1 shall remain in full force and effect.</font></p> </td> </tr> </table> <p> <font size="2"
face="Times New Roman">IN WITNESS WHEREOF, the parties hereto have entered into this Amendment No. 1 as of the date first set forth above.</font></p>
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<td width="46%" colspan="3" valign="bottom"> <p><font size="2" face="Times New Roman">C<small>ITIBANK</small> (NEW YORK STATE)</font></p> </td>
<td width="53%" colspan="3" valign="bottom"> <p> <font size="2" face="Times New Roman">T<small>HE</small> S<small>TUDENT</small> L<small>OAN</small> C<small>ORPORATION</small></font></p> </td> </tr>
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<td width="5%" valign="bottom"> <p> <font size="2" face="Times New Roman">By:</font></p> </td>
<td width="37%" valign="bottom"> <p align="center"> <font size="2" face="Times New Roman">/s/&nbsp;&nbsp;T<small>HEODORE</small> H<small>EINRICH</small></font></p> </td>
<td width="2%" valign="bottom"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td width="5%" valign="bottom"> <p> <font size="2" face="Times New Roman">By:</font></p> </td>
<td width="46%" valign="bottom"> <p align="center"> <font size="2" face="Times New Roman">/s/&nbsp;&nbsp;Y<small>IANNIS</small> Z<small>OGRAPHAKIS</small></font></p> </td>
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<td width="5%" valign="bottom"> <p> <font size="2" face="Times New Roman">Name:</font></p> </td>
<td width="37%" valign="bottom"> <p align=center><font size="1" face="Times New Roman"><b>Theodore Heinrich</b></font></p> </td>
<td width="2%" valign="bottom"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td>
<td width="5%" valign="bottom"> <p> <font size="2" face="Times New Roman">Name:</font></p> </td>
<td width="46%" valign="bottom"> <p align=center><font size="1" face="Times New Roman"><b>Yiannis Zographakis</b></font></p> </td>
<td width="1%" valign="bottom"> <p><font size="2" face="Times New Roman">&nbsp;</font></p> </td> </tr> </table> <p><font size="2" face="Times New Roman">&nbsp;</font></p>
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