EXHIBIT 13
SERVICERS CERTIFICATE
CLASSNOTES TRUST 1997 - I
Aggregate Year End Statement for Series 1998-I
As of December 31 2000
Class A-7
As of Year End:
(i) Amount of Principal paid or distributed in
respect of the Notes
CLASS A-7 Notes 0
Per $50,000 original principal amount of the Note 0
(ii) Amount of Interest paid or distributed in
respect of the Notes
CLASS A-7 Notes 6,503,772.23
Per $50,000 original principal amount of the Note 3,251.89
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover paid or distributed
in respect of the Note
CLASS A-7 Notes 0
Per $50,000 original principal amount of the Note 0
(B) Remaining Amount of Noteholders' Auction Rate Interest
Carryover to be paid or distributed in respect of the Note
CLASS A-7 Notes 0
Per $50,000 original principal amount of the Notes 0
(iv) Outstanding Principal Balance of the Note at Year End 100,000,000.00
(v) Pool Balance at Year End 679,180,758.78
(vi) Outstanding Principal amount of Notes at Year End
CLASSNOTES TRUST 1998-I 410,000,000.00
(vii) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-7 NOTES
PERIOD 1 7.00%
PERIOD 2 6.00%
PERIOD 3 5.62%
CURRENT RATE (Based on Auction) 5.29%
2. NET LOAN RATE
PERIOD 1 7.98%
PERIOD 2 7.87%
PERIOD 3 7.87%
(viii) (a) Service Fee for related Collection Period (Pro Rata) 67,116.29
Per $50,000 original principal amount of the Notes 33.558145
(b) Service Fee Carryover for related Collection Period
1. Distributed 0
Per $50,000 original principal amount of the Notes 0
2. Remaining Balance 0
Per $50,000 original principal amount of the Notes 0
(ix) Amount of Fees paid for the year
1. Service Fee (Pro Rata) 639,719.47
Per $50,000 original principal amount of the Note 319.859735
2. Administration Fee (Pro Rata) 15,000.00
Per $50,000 original principal amount of the Note 7.5
3. Auction Agent Fee (Pro Rata) 249,666.72
Per $50,000 original principal amount of the Note 124.83336
4. Indenture Trustee Fee (Pro Rata) 0
Per $50,000 original principal amount of the Note 0
5. Eligible Lender Trustee Fee (Pro Rata) 3,604.03
Per $50,000 original principal amount of the Note 1.802015
6. Surety Provider Fee (Pro Rata) 88,222.24
Per $50,000 original principal amount of the Note 44.11112
(x) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0
(xi) Aggregate amount of Realized losses for the
related Collection period 0
(xii) Aggregate amount received with respect to Financed
Student Loans for which Realized Losses were
allocated previously 0
(xiii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0
(c) Amount in the Reserve Account 3,671.53
(xiv) Amount of any draw required to be made under a Note Surety bond
(together with any other information required to make
such draw) 0
(xv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0
(b) Amount in the Pre-Funding Account 272.97
(xvi) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0
(xvii) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0
(xviii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0
(xix) As of the end of 12/31/2000 Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 23,394,624.26
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 8,848,254.00
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 15,474,931.13
Delinquent
(d) Number of Financed Student Loans that are more than 181 10,698,455.15
days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 5,150,147.71
(xx) Parity Percentage as of 12/31/00 Numerator 724,312,339.59
Denominator 717,612,104.30 100.93%
(xxi) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 0
(xxii) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0
First Union National Bank
By: /s/ Greg Baber
--------------
Greg Baber
Corporate Trust Officer
CLASSNOTES TRUST 1997 - I
Aggregate Year End Statement for Series 1998-I
As of December 31 2000
Class A-8
As of Year End:
(i) Amount of Principal paid or distributed in
respect of the Note
CLASS A-8 Notes 0
Per $50,000 original principal amount of the Note 0
(ii) Amount of Interest paid or distributed in
respect of the Note
CLASS A-8 Notes 6,472,822.21
Per $50,000 original principal amount of the Note 2,654.56
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover paid or distributed
in respect of the Note
CLASS A-8 Notes 0
Per $50,000 original principal amount of the Note 0
(B) Remaining Amount of Noteholders' Auction Rate Interest
Carryover to be paid or distributed in respect of the Note
CLASS A-8 Notes 0
Per $50,000 original principal amount of the Notes 0
(iv) Outstanding Principal Balance of the Note at Year End 100,000,000.00
(v) Pool Balance at Year End 679,180,758.78
(vi) Outstanding Principal amount of Notes at Year End
CLASSNOTES TRUST 1998-I 410,000,000.00
(vii) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-8 NOTES
PERIOD 1 6.62%
PERIOD 2 6.59%
PERIOD 3 6.60%
CURRENT RATE (Based on Auction) 6.70%
2. NET LOAN RATE
PERIOD 1 7.87%
PERIOD 2 7.88%
PERIOD 3 8.05%
(viii) (a) Service Fee for related Collection Period (Pro Rata) 64,959.41
Per $50,000 original principal amount of the Notes 28.000715
(b) Service Fee Carryover for related Collection Period
1. Distributed 0
Per $50,000 original principal amount of the Notes 0
2. Remaining Balance 0
Per $50,000 original principal amount of the Notes 0
(ix) Amount of Fees paid for the year
1. Service Fee (Pro Rata) 719,586.87
Per $50,000 original principal amount of the Note 290.234145
2. Administration Fee (Pro Rata) 16,291.67
Per $50,000 original principal amount of the Note 7.5
3. Auction Agent Fee (Pro Rata) 270,472.28
Per $50,000 original principal amount of the Note 124.83336
4. Indenture Trustee Fee (Pro Rata) 0
Per $50,000 original principal amount of the Note 1.25
5. Eligible Lender Trustee Fee (Pro Rata) 3,570.36
Per $50,000 original principal amount of the Note 1.438775
6. Surety Provider Fee (Pro Rata) 88,222.24
Per $50,000 original principal amount of the Note 40.555565
(x) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0
(xi) Aggregate amount of Realized losses for the
related Collection period 0
(xii) Aggregate amount received with respect to Financed
Student Loans for which Realized Losses were
allocated previously 0
(xiii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0
(c) Amount in the Reserve Account 3,671.53
(xiv) Amount of any draw required to be made under a Note Surety bond
(together with any other information required to make
such draw) 0
(xv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0
(b) Amount in the Pre-Funding Account 272.97
(xvi) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0
(xvii) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0
(xviii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0
(xix) As of the end of 12/31/2000 Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 23,394,624.26
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 8,848,254.00
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 15,474,931.13
Delinquent
(d) Number of Financed Student Loans that are more than 181 10,698,455.15
days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 5,150,147.71
(xx) Parity Percentage as of 12/31/00 Numerator 724,312,339.59
Denominator 717,612,104.30 100.93%
(xxi) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 0
(xxii) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0
First Union National Bank
By: /s/ Greg Baber
---------------
Greg Baber
Corporate Trust Officer
CLASSNOTES TRUST 1997- I
Aggregate Year End Statement for Series 1998-I
As of December 31 2000
Class A-9
As of Year End:
(i) Amount of Principal paid or distributed in
respect of the Note
CLASS A-9 Note 0
Per $50,000 original principal amount of the Note 0
(ii) Amount of Interest paid or distributed in
respect of the Note
CLASS A-9 Note 6,426,700.00
Per $50,000 original principal amount of the Note 2,623.03
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover paid or distributed
in respect of the Note
CLASS A-9 Note 0
Per $50,000 original principal amount of the Note 0
(B) Remaining Amount of Noteholders' Auction Rate Interest
Carryover to be paid or distributed in respect of the Note
CLASS A-9 Note 0
Per $50,000 original principal amount of the Note 0
(iv) Outstanding Principal Balance of the Note at Year End 100,000,000.00
(v) Pool Balance at Year End 679,180,758.78
(vi) Outstanding Principal amount of Notes at Year End
CLASSNOTES TRUST 1998-I 410,000,000.00
(vii) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-9 NOTES
PERIOD 1 5.29%
PERIOD 2 5.48%
PERIOD 3 5.45%
CURRENT RATE (Based on Auction) 5.47%
2. NET LOAN RATE
PERIOD 1 5.81%
PERIOD 2 7.00%
PERIOD 3 7.50%
(viii) (a) Service Fee for related Collection Period (Pro Rata) 56,001.43
Per $50,000 original principal amount of the Notes 28.000715
(b) Service Fee Carryover for related Collection Period
1. Distributed 0
Per $50,000 original principal amount of the Notes 0
2. Remaining Balance 0
Per $50,000 original principal amount of the Notes 0
(ix) Amount of Fees paid for the year
1. Service Fee (Pro Rata) 760,832.61
Per $50,000 original principal amount of the Note 290.234145
2. Administration Fee (Pro Rata) 16,250.00
Per $50,000 original principal amount of the Note 7.5
3. Auction Agent Fee (Pro Rata) 270,472.28
Per $50,000 original principal amount of the Note 124.83336
4. Indenture Trustee Fee (Pro Rata) 0
Per $50,000 original principal amount of the Note 1.25
5. Eligible Lender Trustee Fee (Pro Rata) 3,524.87
Per $50,000 original principal amount of the Note 1.438775
6. Surety Provider Fee (Pro Rata) 81,555.57
Per $50,000 original principal amount of the Note 40.555565
(x) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0
(xi) Aggregate amount of Realized losses for the
related Collection period 0
(xii) Aggregate amount received with respect to Financed
Student Loans for which Realized Losses were
allocated previously 0
(xiii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0
(c) Amount in the Reserve Account 3,671.53
(xiv) Amount of any draw required to be made under a Note Surety bond
(together with any other information required to make
such draw) 0
(xv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0
(b) Amount in the Pre-Funding Account 272.97
(xvi) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0
(xvii) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0
(xviii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0
(xix) As of the end of 12/31/2000 Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 23,394,624.26
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 8,848,254.00
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 15,474,931.13
Delinquent
(d) Number of Financed Student Loans that are more than 181 10,698,455.15
days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 5,150,147.71
(xx) Parity Percentage as of 12/31/00 Numerator 724,312,339.59
Denominator 717,612,104.30 100.93%
(xxi) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 0
(xxii) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0
First Union National Bank
By: /s/ Greg Baber
--------------
Greg Baber
Corporate Trust Officer
CLASSNOTES TRUST 1997 - I
Aggregate Year End Statement for Series 1998-I
As of December 31 2000
Class A-10
As of Year End:
(i) Amount of Principal paid or distributed in
respect of the Note
CLASS A-10 Note 0
Per $50,000 original principal amount of the Note 0
(ii) Amount of Interest paid or distributed in
respect of the Note
CLASS A-10 Note 7,129,087.79
Per $50,000 original principal amount of the Note 2,645.22
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover paid or distributed
in respect of the Note
CLASS A-10 Note 0
Per $50,000 original principal amount of the Note 0
(B) Remaining Amount of Noteholders' Auction Rate Interest
Carryover to be paid or distributed in respect of the Note
CLASS A-10 Note 0
Per $50,000 original principal amount of the Note 0
(iv) Outstanding Principal Balance of the Note at Year End 110,000,000.00
(v) Pool Balance at Year End 679,180,758.78
(vi) Outstanding Principal amount of Notes at Year End
CLASSNOTES TRUST 1998-I 410,000,000.00
(vii) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-10 NOTES
PERIOD 1 6.59%
PERIOD 2 6.62%
PERIOD 3 6.59%
CURRENT RATE (Based on Auction) 6.63%
2. NET LOAN RATE
PERIOD 1 7.88%
PERIOD 2 7.87%
PERIOD 3 7.88%
(viii) (a) Service Fee for related Collection Period (Pro Rata) 49,499.22
Per $50,000 original principal amount of the Notes 28.000714
(b) Service Fee Carryover for related Collection Period
1. Distributed 0
Per $50,000 original principal amount of the Notes 0
2. Remaining Balance 0
Per $50,000 original principal amount of the Notes 0
(ix) Amount of Fees paid for the year
1. Service Fee (Pro Rata) 771,281.68
Per $50,000 original principal amount of the Note 290.234155
2. Administration Fee (Pro Rata) 16,500.00
Per $50,000 original principal amount of the Note 7.5
3. Auction Agent Fee (Pro Rata) 274,633.32
Per $50,000 original principal amount of the Note 124.833327
4. Indenture Trustee Fee (Pro Rata) 10,000.00
Per $50,000 original principal amount of the Note 1.136364
5. Eligible Lender Trustee Fee (Pro Rata) 3,924.64
Per $50,000 original principal amount of the Note 1.438645
6. Surety Provider Fee (Pro Rata) 89,711.12
Per $50,000 original principal amount of the Note 40.555555
(x) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0
(xi) Aggregate amount of Realized losses for the
related Collection period 0
(xii) Aggregate amount received with respect to Financed
Student Loans for which Realized Losses were
allocated previously 0
(xiii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0
(c) Amount in the Reserve Account 3,671.53
(xiv) Amount of any draw required to be made under a Note Surety bond
(together with any other information required to make
such draw) 0
(xv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0
(b) Amount in the Pre-Funding Account 272.97
(xvi) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0
(xvii) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0
(xviii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0
(xix) As of the end of 12/31/2000 Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 23,394,624.26
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 8,848,254.00
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 15,474,931.13
Delinquent
(d) Number of Financed Student Loans that are more than 181 10,698,455.15
days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 5,150,147.71
(xx) Parity Percentage as of 12/31/99 Numerator 724,312,339.59
Denominator 717,612,104.30 100.93%
(xxi) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 0
(xxii) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0
First Union National Bank
By: /s/ Greg Baber
--------------
Greg Baber
Corporate Trust Officer