Collegiate Funding Services Education Loan Trust 2003-B Inactive
Filed: 14 Jan 04, 12:00am
EXHIBIT 20.1
Collegiate Funding Services Education Loan Trust 2003-B
Statement to Note Holders
As of and for the period ended: 12/31/03
Pursuant to section 4.15(c) of the Trust Indenture, the following is provided to the trustee by the issuer. The information shown below has not been independently verified, however is believed to be accurate to the best of the issuer’s knowledge.
| (i) | The amount of principal payments made with respect to each class of Notes during December, 2003; |
Class | Principal Paid | |
A-1 | $0.00 | |
A-2 | $0.00 | |
A-3 | $0.00 | |
A-4 | $0.00 | |
A-5 | $0.00 | |
A-6 | $0.00 | |
A-7 | $0.00 | |
B-1 | $0.00 | |
B-2 | $0.00 |
| (ii) | The amount of interest payments made with respect to each class of Notes during December, 2003; |
Class | Interest Paid | |
A-1 | $0.00 | |
A-2 | $0.00 | |
A-3 | $0.00 | |
A-4 | $0.00 | |
A-5 | $0.00 | |
A-6 | $0.00 | |
A-7 | $0.00 | |
B-1 | $0.00 | |
B-2 | $0.00 |
| (iii) | The aggregate principal balance of the Financed Eligible Loans as of the close of business on December 31, 2003; |
| Principal Balance of Financed Eligible Loans | $982,124,927.51 |
| (iv) | The aggregate outstanding principal amount of each class of Notes; |
Class | Principal Outstanding | ||
A-1 | $ | 249,000,000.00 | |
A-2 | $ | 250,000,000.00 | |
A-3 | $ | 97,000,000.00 | |
A-4 | $ | 97,000,000.00 | |
A-5 | $ | 97,000,000.00 | |
A-6 | $ | 97,000,000.00 | |
A-7 | $ | 97,000,000.00 | |
B-1 | $ | 26,000,000.00 | |
B-2 | $ | 26,000,000.00 | |
Total | $ | 1,036,000,000.00 | |
| (v) | The interest rate for each class of Notes at December 31, 2003 and the next Distribution Date for each class; |
Class | Interest Rate | Next Distribution Date | ||
A-1 | 1.292% | 3/29/04 | ||
A-2 | 1.452% | 3/29/04 | ||
A-3 | 1.200% | 1/06/04 | ||
A-4 | 1.200% | 1/13/04 | ||
A-5 | 1.200% | 1/20/04 | ||
A-6 | 1.200% | 1/27/04 | ||
A-7 | 1.150% | 1/06/04 | ||
B-1 | 1.250% | 1/06/04 | ||
B-2 | 1.250% | 1/13/04 |
| (vi) | The number and principal amount of Financed Eligible Loans that are delinquent or for which claims have been filed with a Guarantee Agency; |
Delinquencies | Number of Loans | Principal Outstanding | % of Total Principal Outstanding | |||
31-60 Days | 688 | $15,843,242.41 | 1.61% | |||
61-90 Days | 338 | 6,274,363.17 | 0.64% | |||
Claims Pending | 19 | 430,100.91 | 0.04% | |||
Claims Filed | 2 | 13,959.27 | 0.00% |
| (vii) | The total value of the Trust and outstanding principal amount of the Notes as of the close of business on December 31, 2003; |
Assets | |||
Cash & Cash Equivalents | $ | 16,236,815.60 | |
Student Loan Receivables | $ | 982,124,927.51 | |
Reserves | $ | 7,504,775.00 | |
Accrued Interest Receivable | $ | 3,706,504.93 | |
Other Assets | $ | 2,371,742.53 | |
Total Assets | $ | 1,011,944,765.57 | |
Liabilities | |||
Notes Payable | |||
Class A-1 | $ | 249,000,000.00 | |
Class A-2 | $ | 250,000,000.00 | |
Class A-3 | $ | 97,000,000.00 | |
Class A-4 | $ | 97,000,000.00 | |
Class A-5 | $ | 97,000,000.00 | |
Class A-6 | $ | 97,000,000.00 | |
Class A-7 | $ | 97,000,000.00 | |
Class B-1 | $ | 26,000,000.00 | |
Class B-2 | $ | 26,000,000.00 | |
Total Notes Outstanding | $ | 1,036,000,000.00 | |
Other Liabilities | $ | 3,474,529.78 | |