Exhibit 20
                                        
                             OFFICER'S CERTIFICATE


  Harry Puglisi, Treasurer of Trans-World Insurance Company d/b/a Educaid (the
"Servicer"), in accordance with Section 4.8 of  The Sale and Servicing Agreement
(the "Agreement") dated as of December  27, 1995  wherein Trans-World Insurance
Company d/b/a Educaid is the "Servicer" states the following:

       (i)    the Servicer has fully complied with the provisions of Articles IV
and VII;

       (ii)   the Claims Administrator has fully complied with Section 7.1;

       (iii)   a review of the activities of the Servicer during 1995 and of its
performance under the Agreement has been made under my supervision;  and

       (iv)   to the best of my knowledge, based on my review, the Servicer has
fulfilled all its obligations under the Agreement throughout 1995 and there has
been no default in the fulfillment of any such obligation.


                            TRANS-WORLD INSURANCE COMPANY
                            d/b/a  EDUCAID


                        by: /s/  Harry Puglisi
                            -------------------
                            Harry Puglisi
                            Treasurer