Introductory Signet Bank, a Virginia banking corporation ------------ ("Signet" or the "Seller"), proposes to cause Signet Student Loan Trust 1996-A (the "Trust") to issue and sell $[ ] principal amount of its Floating Rate Class A-1 Asset Backed Notes and $[ ] principal amount of its Floating Rate Class A-2 Asset Backed Notes (collectively, the "Notes") to the underwriters named in Schedule I hereto (the "Underwriters") for whom you (the "Representative") are acting as representative. The assets of the Trust include, among other things, a pool of student loans (the "Initial Financed Student Loans") and certain monies due thereunder on and after [ ], 1996 (the "Cutoff Date"). Such Initial Financed Student Loans will be sold to the Eligible Lender Trustee (as defined below) on behalf of the Trust by the Seller pursuant to a sale agreement, dated as of [ ], 1996 (the "Loan Sale Agreement") among the Trust, the Seller and The First National Bank of Chicago, a national banking association, as eligible lender trustee (the "Eligible Lender Trustee"). Under certain circumstances after the Closing Date (as defined below), the Eligible Lender Trustee, acting on behalf of the Trust, may acquire additional student loans ("Additional Acquired Student Loans", together with the Initial Financed Student Loans, the "Financed Student Loans"). The Financed Student Loans are to be serviced by Signet as master servicer (the "Master Servicer") pursuant to a master servicing agreement, dated as of [ ], 1996 (the "Master Servicing Agreement"), among the Trust, the Master Servicer and the Eligible Lender Trustee. The Notes will be issued pursuant to an Indenture to be dated as of [ ], 1996 (as amended and supplemented from time to time, the "Indenture"), between the Trust and The Bank of New York, a New York banking corporation, as indenture trustee (the "Indenture Trustee"). The Certificates will be issued pursuant to a trust agreement to be dated as of [ ], 1996 (the "Trust Agreement"), among the Seller, as Depositor, Signet Student Loan Corporation, a Virginia corporation (the "Company"), and the Eligible Lender Trustee. An individual residing in Delaware will be appointed as a co-trustee under the Trust Agreement pursuant to a co-trustee agreement, dated as of [ ], 1996 (the "Co- Trustee Agreement"), between such individual and the Eligible Lender Trustee. Simultaneously with the issuance and sale of the Notes as contemplated herein, the Trust will issue $[ ] principal amount of its Floating Rate Asset Backed Certificates (the "Certificates"). The Certificates will be sold pursuant to an underwriting agreement dated the date hereof (the "Certificate Underwriting Agreement") between the Seller and the Underwriters. The Notes and the Certificates are hereinafter referred to collectively as the "Securities." Capitalized terms used and not otherwise defined herein shall have the meanings given to them in Appendix A hereto.