SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
--------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event report) 7-MAR-97
The Money Store Inc. (as Representative) and Transworld
Insurance Company d/b/a Educaid (as Seller) under a First
Supplemental Sale and Servicing Agreement, dated as of
December 27, 1995 providing for the issuance of ClassNotes
Trust 1995-1 (f/k/a Education Loan Alliance 1995-1), Asset
Backed Notes, Series 1995-2
The Money Store Inc., as Representative
---------------------------------------
Transworld Insurance Company d/b/a Educaid, As Seller
===============================================================
(Exact name of regristrant as specified in its charter)
New Jersey 22-2293022
- ---------- ----------
Arizona 33-89200 86-0255348
- ------- -------- ----------
(State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
- ----------------------------------------------
(Address of principal executive officer)
Registrant's Telephone Number,
including area code: 908-686-2000
------------------
n/a
- -----------------------------------------------------
(Former name or former address, if changed since last report)
Item 5 Other Events
------------
Attached herein as Annex A is a copy of the Monthly Statement sent to
Class A-5 Noteholders, Class A - 6 Noteholders with respect to the
following Distribution Dates:
A-5............................................ 07-Mar-97
14-Mar-97
21-Mar-97
28-Mar-97
A-6............................................. 18-Mar-97
Item 7 Financial Statements and Exhibits
---------------------------------
The Quarterly Report on Form 10Q for the period ended September 30,
1996 which has been filed with the Securities and Exchange Commission
by AMBAC Inc., is hereby incorporated into this Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CLASSNOTES TRUST 1995-I
THE MONEY STORE INC., Representative
TRANS-WORLD INSURANCE COMPANY, Seller
By: /s/ Harry Puglisi
----------------------------
Name: Harry Puglisi
Title: Treasurer
of The Money Store Inc. and
Trans-World Insurance Company
d/b/a Educaid
Dated: 03/31/97
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
CLASSNOTES TRUST 1995 - I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing Agreement
CLASS A-5 Determination Date 02/28/97
Cusip # 182743ABO Distribution Date 03/07/97
Record Date 03/05/97
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-5 NOTES 97,107.50
Per $50,000 original principal amount of the Notes 52.208333
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 612,793,551.94
(v) Outstanding Principal amount after giving effect to
distributions on this Note Distribution Date:
CLASS A-5 NOTES 93,000,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-5 NOTES
PERIOD 1 5.349000%
PERIOD 2 5.350000%
PERIOD 3 5.300000%
CURRENT RATE (Based on Auction) 5.370000%
2. NET LOAN RATE
PERIOD 1 6.665000%
PERIOD 2 6.544000%
PERIOD 3 6.675000%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 119,982.92
(vii) (a) Service Fee for related Collection Period (Pro Rata) 41,502.40
Per $50,000 original principal amount of the Notes 22.313118
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 1,162.50
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 19,349.17
Per $50,000 original principal amount of the Notes 10.402778
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 569.98
Per $50,000 original principal amount of the Notes 0.306440
5. Surety Provider Fee (Pro Rata) 6,148.33
Per $50,000 original principal amount of the Notes 3.305556
(ix) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0.00
(x) Aggregate amount of Realized losses for the
related Collection period 0.00
(xi) Aggregate amount received with respect to Financed
Student Loans for which Realized Losses were
allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 2,155,136.15
(xiii ) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 30,071,016.61
(xv) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) 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 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 12,822,414.41
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 5,313,881.76
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 4,814,297.98
Delinquent
(d) Number of Financed Student Loans that are more than 181 2,098,616.52
days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 1,814,749.18
(xix) Parity Percentage Numberator 687,514,530.89
--------------
as of 01/31/97 Denominator 681,472,578.35 100.89%
(xx) 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) 298,189.55
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
The Money Store, Inc.
By: /s/Harry Puglisi
- --------------------------
Harry Puglisi
Treasurer
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
CLASSNOTES TRUST 1995 - I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing Agreement
CLASS A-5 Determination Date 03/07/97
Cusip # 182743ABO Distribution Date 03/14/97
Record Date 03/12/97
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-5 NOTES 96,565.00
Per $50,000 original principal amount of the Notes 51.916667
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 612,793,551.94
(v) Outstanding Principal amount after giving effect to
distributions on this Note Distribution Date:
CLASS A-5 NOTES 93,000,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-5 NOTES
PERIOD 1 5.350000%
PERIOD 2 5.300000%
PERIOD 3 5.370000%
CURRENT RATE (Based on Auction) 5.340000%
2. NET LOAN RATE
PERIOD 1 6.665000%
PERIOD 2 6.544000%
PERIOD 3 6.675000%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 119,982.92
(vii) (a) Service Fee for related Collection Period (Pro Rata) 41,502.40
Per $50,000 original principal amount of the Notes 22.313118
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 1,162.50
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 19,349.17
Per $50,000 original principal amount of the Notes 10.402778
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 569.98
Per $50,000 original principal amount of the Notes 0.306440
5. Surety Provider Fee (Pro Rata) 6,148.33
Per $50,000 original principal amount of the Notes 3.305556
(ix) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0.00
(x) Aggregate amount of Realized losses for the
related Collection period 0.00
(xi) Aggregate amount received with respect to Financed
Student Loans for which Realized Losses were
allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 2,155,136.15
(xiii) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 30,071,016.61
(xv) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) 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 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 12,822,414.41
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 5,313,881.76
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 4,814,297.98
Delinquent
(d) Number of Financed Student Loans that are more than 181 2,098,616.52
days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 1,814,749.18
(xix) Parity Percentage Numerator 687,514,530.89
--------------
as of 01/31/97 Denominator 681,472,578.35 100.89%
(xx) 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) 298,189.55
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
The Money Store, Inc.
By: /s/ Harry Puglisi
- ---------------------
Harry Puglisi
Treasurer
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
CLASSNOTES TRUST 1995 - I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing Agreement
CLASS A-5 Determination Date 03/14/97
Cusip # 182743ABO Distribution Date 03/21/97
Record Date 03/19/97
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-5 NOTES 97,107.50
Per $50,000 original principal amount of the Notes 52.208333
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 612,793,551.94
(v) Outstanding Principal amount after giving effect to
distributions on this Note Distribution Date:
CLASS A-5 NOTES 93,000,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-5 NOTES
PERIOD 1 5.300000%
PERIOD 2 5.370000%
PERIOD 3 5.340000%
CURRENT RATE (Based on Auction) 5.370000%
2. NET LOAN RATE
PERIOD 1 6.665000%
PERIOD 2 6.544000%
PERIOD 3 6.675000%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 119,982.92
(vii) (a) Service Fee for related Collection Period (Pro Rata) 41,502.40
Per $50,000 original principal amount of the Notes 22.313118
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 1,162.50
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 19,349.17
Per $50,000 original principal amount of the Notes 10.402778
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 569.98
Per $50,000 original principal amount of the Notes 0.306440
5. Surety Provider Fee (Pro Rata) 6,148.33
Per $50,000 original principal amount of the Notes 3.305556
(ix) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0.00
(x) Aggregate amount of Realized losses for the
related Collection period 0.00
(xi) Aggregate amount received with respect to Financed
Student Loans for which Realized Losses were
allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 2,155,136.15
(xiii) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 30,071,016.61
(xv) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) 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 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 12,822,414.41
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 5,313,881.76
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 4,814,297.98
Delinquent
(d) Number of Financed Student Loans that are more than 181 2,098,616.52
days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 1,814,749.18
(xix) Parity Percentage Numerator 687,514,530.89
--------------
as of 01/31/97 Denominator 681,472,578.35 100.89%
(xx) 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) 298,189.55
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
The Money Store, Inc.
By: /s/ Harry Puglisi
- ----------------------------
Harry Puglisi
Treasurer
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
CLASSNOTES TRUST 1995 - I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing Agreement
CLASS A-5 Determination Date 03/21/97
Cusip # 182743ABO Distribution Date 03/31/97
Record Date 03/26/97
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-5 NOTES 140,791.67
Per $50,000 original principal amount of the Notes 75.694444
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 636,926,685.42
(v) Outstanding Principal amount after giving effect to
distributions on this Note Distribution Date:
CLASS A-5 NOTES 93,000,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-5 NOTES
PERIOD 1 5.370000%
PERIOD 2 5.340000%
PERIOD 3 5.370000%
CURRENT RATE (Based on Auction) 5.450000%
2. NET LOAN RATE
PERIOD 1 6.665000%
PERIOD 2 6.544000%
PERIOD 3 6.675000%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 171,404.17
(vii) (a) Service Fee for related Collection Period (Pro Rata) 43,374.82
Per $50,000 original principal amount of the Notes 23.319796
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 1,162.50
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 21,422.29
Per $50,000 original principal amount of the Notes 11.517361
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 575.48
Per $50,000 original principal amount of the Notes 0.309399
5. Surety Provider Fee (Pro Rata) 6,807.08
Per $50,000 original principal amount of the Notes 3.659722
(ix) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0.00
(x) Aggregate amount of Realized losses for the
related Collection period 0.00
(xi) Aggregate amount received with respect to Financed
Student Loans for which Realized Losses were
allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 2,164,742.31
(xiii) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 573.79
(xv) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) 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 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 15,545,002.68
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 8,851,351.54
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 4,734,372.01
Delinquent
(d) Number of Financed Student Loans that are more than 181 1,808,285.42
days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 1,639,847.40
(xix) Parity Percentage Numerator 680,841,047.86
--------------
as of 02/28/97 Denominator 675,071,209.62 100.85%
(xx) 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) 310,762.69
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
The Money Store, Inc.
By: /s/ Harry Puglisi
- --------------------------
Harry Puglisi
Treasurer
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
CLASSNOTES TRUST 1995 - I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing Agreement
CLASS A-6 Determination Date 03/12/97
Cusip # 182743AC8 Distribution Date 03/18/97
Record Date 03/14/97
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-6 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-6 NOTES 400,133.25
Per $50,000 original principal amount of the Notes 202.087500
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-6 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-6 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 612,793,551.94
(v) Outstanding Principal amount after giving effect to
distributions on this Note Distribution Date:
CLASS A-6 NOTES 99,000,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-6 NOTES
PERIOD 1 5.400000%
PERIOD 2 5.850000%
PERIOD 3 5.430000%
CURRENT RATE (Based on Auction) 5.389000%
2. NET LOAN RATE
PERIOD 1 6.665000%
PERIOD 2 6.544000%
PERIOD 3 6.675000%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 493,638.75
(vii) (a) Service Fee for related Collection Period (Pro Rata) 44,179.98
Per $50,000 original principal amount of the Notes 22.313121
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 1,237.50
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 20,597.50
Per $50,000 original principal amount of the Notes 10.402778
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 606.75
Per $50,000 original principal amount of the Notes 0.306440
5. Surety Provider Fee (Pro Rata) 6,545.00
Per $50,000 original principal amount of the Notes 3.305556
(ix) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0.00
(x) Aggregate amount of Realized losses for the
related Collection period 0.00
(xi) Aggregate amount received with respect to Financed
Student Loans for which Realized Losses were
allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 2,155,136.15
(xiii) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 30,071,016.61
(xv) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) 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 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 12,822,414.41
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 5,313,881.76
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 4,814,297.98
Delinquent
(d) Number of Financed Student Loans that are more than 181 2,098,616.52
days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 1,814,749.18
(xix) Parity Percentage Numerator 687,514,530.89
--------------
as of 01/31/97 Denominato 681,472,578.35 100.89%
(xx) 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) 298,189.55
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
The Money Store, Inc.
By: /s/ Harry Puglisi
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Harry Puglisi
Treasurer