LISTING SUPPLEMENT $189000000 Class A-1 Notes $342100000 ...

PROSPECTUS
The National Collegiate Funding Student Loan Trusts
The Depositor
Student Loan Asset Backed Notes
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The National Collegiate Funding LLC
Depositor
The National Collegiate Funding LLC is a wholly-owned subsidiary of The First Marblehead
Corporation.
The Notes
The depositor intends to form trusts to issue student loan asset backed notes. Each issue will have its
own series designation. We will sell the notes from time to time in amounts, at prices and on terms
determined at the time of offering and sale.
Each series may include:
One or more classes of notes secured by the assets of that trust; and
A class of notes may:
Be senior or subordinate to other classes; and
Receive payments from one or more forms of credit or cash flow enhancements designed to
reduce the risk to investors caused by shortfalls in payments on the related student loans.
Each class of notes will have the right to receive payments on the dates and in the manner described in
the applicable supplement to this prospectus.
Trust Assets
The assets of each trust will include:
Private student loans that are not entitled to any federal reinsurance or assistance from any
governmental entity;
Guaranty obligations of any private guarantors of the student loans, if applicable; and
Other funds, investments and property described in the applicable prospectus supplement.
A supplement to this prospectus will describe the specific amounts, prices and terms of the notes of each
series. The supplement will also give details of the specific student loans, credit enhancement and other
assets of the trust.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved the
notes or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
You should consider carefully the risk factors described in the prospectus supplement that accompanies this prospectus.
Each issue of notes represents obligations of, or interests in, the applicable trust only. They do not represent interests in or
obligations of The First Marblehead Corporation, any seller or guarantor of loans to the depositor, the depositor, the servicers
or any of their affiliates.
The notes are not guaranteed or insured by the United States of America or any governmental agency.
This prospectus may be used to offer and sell any series of notes only if accompanied by the prospectus supplement for that
series.
May 14, 2004