Exhibit 99(a)
REVISED 3/11/03
KEYCORP STUDENT LOAN TRUST 2002-A
Noteholders' Statement pursuant to Section 5.07 of Sale and Servicing Agreement
(capitalized terms used herein are defined in Appendix A thereto)
DISTRIBUTION DATE: FEBRUARY 27, 2003
--------------------------------
(i) Amount of PRINCIPAL being paid or distributed in respect of the CLASS I-A-1 Notes: $23,823,496.79
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( $0.00029124079 per $1,000 original principal amount of Class I-A-1 Notes)
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(ii) Amount of PRINCIPAL being paid or distributed in respect of the CLASS I-A-2 Notes: $0.00
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( $0.00000000000 per $1,000 original principal amount of Class II-A-2 Notes)
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(iii) Amount of PRINCIPAL being paid or distributed in respect of the CLASS I-B Notes: $0.00
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( $0.00000000000 per $1,000 original principal amount of Class I-B Notes)
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(iv) Amount of PRINCIPAL being paid or distributed in respect of the CLASS II-A-1 Notes: $19,297,765.52
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( $0.00014401318 per $1,000 original principal amount of Class II-A-1 Notes)
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(v) Amount of PRINCIPAL being paid or distributed in respect of the CLASS II-A-2 Notes: $0.00
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( $0.00000000000 per $1,000 original principal amount of Class II-A-2 Notes)
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(vi) Amount of INTEREST being paid or distributed in respect of the CLASS I-A-1 Notes: $582,807.00
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( $0.00000712478 per $1,000 original principal amount of Class I-A-1 Notes)
-------------------------
(vii) Amount of INTEREST being paid or distributed in respect of the CLASS I-A-2 Notes: $1,406,924.74
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( $0.00000768811 per $1,000 original principal amount of Class I-A-2 Notes)
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(viii) Amount of INTEREST being paid or distributed in respect of the CLASS I-B Notes: $81,164.53
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( $0.00000989811 per $1,000 original principal amount of Class I-B Notes)
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(ix) Amount of INTEREST being paid or distributed in respect of the CLASS II-A-1 Notes: $995,367.19
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( $0.00000742811 per $1,000 original principal amount of Class II-A-1 Notes)
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(x) Amount of INTEREST being paid or distributed in respect of the CLASS II-A-2 Notes: $4,763,354.79
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( $0.00000859811 per $1,000 original principal amount of Class II-A-2 Notes)
-------------------------
(xi) Amount of Noteholders' Interest Index Carryover being paid or
distributed (if any) and amount remaining (if any):
(1)Distributed to Class I-A-1 Noteholders: $0.00
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( $0.00000000000 per $1,000 original principal amount of Class I-A-1 Notes)
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(2)Distributed to Class I-A-2 Noteholders: $0.00
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( $0.00000000000 per $1,000 original principal amount of Class I-A-2 Notes)
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(3)Distributed to Class I-B Noteholders: $0.00
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( $0.00000000000 per $1,000 original principal amount of Class I-B Notes)
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(4)Distributed to Class II-A-1 Noteholders: $0.00
-------------------------
( $0.00000000000 per $1,000 original principal amount of Class II-A-1 Notes)
-------------------------
(5)Distributed to Class II-A-2 Noteholders: $0.00
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( $0.00000000000 per $1,000 original principal amount of Class II-A-2 Notes)
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(6)Balance on Class I-A-1 Notes: $0.00
--------------------------------------------
( $0.00000000000 per $1,000 original principal amount of Class I-A-1 Notes)
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Page 1 of 4
KEYCORP STUDENT LOAN TRUST 2002-A
Noteholders' Statement pursuant to Section 5.07 of Sale and Servicing Agreement
(capitalized terms used herein are defined in Appendix A thereto)
DISTRIBUTION DATE: FEBRUARY 27, 2003
--------------------------------
(7)Balance on Class I-A-2 Notes: $0.00
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( $0.00000000000 per $1,000 original principal amount of Class I-A-2 Notes)
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(8)Balance on Class I-B Notes: $0.00
--------------------------------------------
( $0.00000000000 per $1,000 original principal amount of Class I-B Notes)
-------------------------
(9)Balance on Class II-A-1 Notes: $0.00
--------------------------------------------
( $0.00000000000 per $1,000 original principal amount of Class II-A-1 Notes)
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(10)Balance on Class II-A-2 Notes: $0.00
--------------------------------------------
( $0.00000000000 per $1,000 original principal amount of Class II-A-2 Notes)
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(xii) (X) Payments made under the Group I Cap Agreement on such date:
( $0.00 with respect to the Class I-A-1 Notes,
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$0.00 with respect to Class I-A-2 Notes, and
-------------------------
$0.00 with respect to Class I-B Notes), and
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(Y) payments made under the Group II Cap Agreement on such date:
( $0.00 with respect to Class II-A-1 Notes and
-------------------------
$0.00 with respect to the Class II-A-2 Notes); and
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the total outstanding amount owed to the Cap Provider:
$0.00 with respect to the Group I Cap Agreement and
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$0.00 with respect to the Group II Cap Agreement.
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(xiii) (X) GROUP I POOL BALANCE at the end of the related Collection Period: $241,775,703.98 and
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(Y) GROUP II POOL BALANCE at the end of the related Collection Period: $645,739,591.76
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(xiv) After giving effect to distributions on this Distribution Date:
(a) (1)OUTSTANDING PRINCIPAL amount of CLASS I-A-1 Notes: $57,976,503.21
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(2)Pool Factor for the Class I-A-1 Notes: 0.708759200
--------------------------
(b) (1)outstanding principal amount of CLASS I-A-2 Notes: $183,000,000.00
--------------------------
(2)Pool Factor for the Class I-A-2 Notes: 1.000000000
--------------------------
(c) (1)outstanding principal amount of CLASS I-B Notes: $8,200,000.00
--------------------------
(2)Pool Factor for the Class I-B Notes: 1.000000000
--------------------------
(d) (1)outstanding principal amount of CLASS II-A-1 Notes: $114,702,234.48
--------------------------
(2)Pool Factor for the Class II-A-1 Notes: 0.855986800
--------------------------
(e) (1)outstanding principal amount of CLASS II-A-2 Notes: $554,000,000.00
--------------------------
(2)Pool Factor for the Class II-A-2 Notes: 1.000000000
--------------------------
(xv) NOTE INTEREST RATE for the Notes:
(a) In general:
(1)Three-Month LIBOR
for the period from the previous Distribution Date to this Distribution Date was 1.58418%
----------------
(2)the Student Loan Rate was for Group I: 4.76718% and Group II: 3.66944%
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Page 2 of 4
KEYCORP STUDENT LOAN TRUST 2002-A
Noteholders' Statement pursuant to Section 5.07 of Sale and Servicing Agreement
(capitalized terms used herein are defined in Appendix A thereto)
DISTRIBUTION DATE: FEBRUARY 27, 2003
--------------------------------
(b) Note Interest Rate for the CLASS I-A-1 Notes: 1.64418% based on Index-based Rate
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(c) Note Interest Rate for the CLASS I-A-2 Notes: 1.77418% based on Index-based Rate
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(d) Note Interest Rate for the CLASS I-B Notes: 2.28418% based on Index-based Rate
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(e) Note Interest Rate for the CLASS II-A-1 Notes: 1.71418% based on Index-based Rate
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(f) Note Interest Rate for the CLASS II-A-2 Notes: 1.98418% based on Index-based Rate
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(xvi) Amount of MASTER SERVICING FEE for related Collection Period:
$500,536.35 with respect to the GROUP I Student Loans and
-------------------------
$1,341,897.74 with respect to the GROUP II Student Loans
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( $0.00000611903 per $1,000 original principal amount of Class I-A-1 Notes,
-------------------------
$0.00000273517 per $1,000 original principal balance of Class I-A-2 Notes
-------------------------
$0.00006104102 per $1,000 original principal balance of Class I-B Notes,
-------------------------
$0.00001001416 per $1,000 original principal balance of Class II-A-1 Notes and
-------------------------
$0.00000242220 per $1,000 original principal balance of Class II-A-2 Notes);
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(xvii) Amount of ADMINISTRATION FEE for related Collection Period:
$817.26 with respect to the GROUP I Notes and
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$2,182.74 with respect to the GROUP II Notes
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( $0.00000000999 per $1,000 original principal amount of Class I-A-1 Notes,
-------------------------
$0.00000000447 per $1,000 original principal balance of Class I-A-2 Notes
-------------------------
$0.00000009967 per $1,000 original principal balance of Class I-B Notes,
-------------------------
$0.00000001629 per $1,000 original principal balance of Class II-A-1 Notes and
-------------------------
$0.00000000394 per $1,000 original principal balance of Class II-A-2 Notes);
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(xviii) (a) Aggregate amount of REALIZED LOSSES (if any) for the related Collection Period:
$0.00 with respect to the GROUP I Student Loans
-------------------------
$0.00 with respect to the GROUP II Student Loans
-------------------------
(b) Balance of Financed Student Loans that are DELINQUENT in each
delinquency period as of the end of the related Collection Period:
with respect to the GROUP I Student Loans
# of
Loans $ Amount
30-60 Days Delinquent 564 $7,634,278
61-90 Days Delinquent 161 $2,184,351
91-120 Days Delinquent 18 $569,495
More than 120 Days Delinquent 129 $1,643,491
Claims Filed Awaiting Payment 0 $0
and with respect to the GROUP II Student Loans.
# of
Loans $ Amount
30-60 Days Delinquent 1,965 $15,958,866
61-90 Days Delinquent 453 $4,491,821
91-120 Days Delinquent 296 $3,060,898
More than 120 Days Delinquent 314 $3,308,688
Claims Filed Awaiting Payment 101 $1,096,016
Page 3 of 4
KEYCORP STUDENT LOAN TRUST 2002-A
Noteholders' Statement pursuant to Section 5.07 of Sale and Servicing Agreement
(capitalized terms used herein are defined in Appendix A thereto)
DISTRIBUTION DATE: FEBRUARY 27, 2003
--------------------------------
(xix) Amount in the GROUP I PRE-FUNDING Account: $1,941,581.00
-------------------------
Amount in the Group I Pre-Funding Account at the end of the Funding Period to be distributed as a
payment of principal in respect of the Notes: $0.00
-------------------------
Amount remainging in the Group I Subsequent Student Loan Pre-Funding Sub-Account being transferred
to the Group I Other Student Loan Pre-Funding Sub-Account: $9,458.44
-------------------------
(xx) Amount in the GROUP II PRE-FUNDING Account: $25,828,601.31
-------------------------
Amount in the Group II Pre-Funding Account at the end of the Funding Period to be distributed as a
payment of principal in respect of the Notes: $0.00
-------------------------
Amount remainging in the Group II Subsequent Student Loan Pre-Funding Sub-Account being transferred
to the Group II Other Student Loan Pre-Funding Sub-Account: $0.00
-------------------------
(xxi) Amount of the INSURER PREMIUM paid to the Securities Insurer on such Distribution Date $204,106.67
---------------------
(xxii) Amount received from the Securities Insurer with respect to the Group II Notes Guaranty Insurance
Policy: $0.00
--------------------
(xxiii) Amount paid to the Securities Insurer in reimbursement of all Insured
Payments made pursuant to the Group II Notes Guaranty Insurance Policy
$0.00
--------------------
(xxiv) (A) with respect to the GROUP I INTEREST RATE SWAP:
the Trust Swap Payment Amount paid to the Swap Counterparty on such Distribution Date: $78,299.28 ;
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the amount of any Net Trust Swap Payment Carryover Shortfall for such Distribution Date: $0.00 ;
----------------
the Trust Swap Receipt Amount paid to the Trust on such Distribution Date: $0.00 ;
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the Net Trust Swap Receipt Carryover Shortfall for such Distribution Date: $0.00 ;
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and the amount of any Termination Payment either paid by or made to
the Trust on such Distribution Date:
$0.00 ; and
--------------------
(B) with respect to the GROUP II INTEREST RATE SWAP:
the Trust Swap Payment Amount paid to the Swap Counterparty on such Distribution Date: $204,132.36 ;
----------------
the amount of any Net Trust Swap Payment Carryover Shortfall for such Distribution Date: $0.00 ;
----------------
the Trust Swap Receipt Amount paid to the Trust on such Distribution Date: $0.00 ;
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the Net Trust Swap Receipt Carryover Shortfall for such Distribution Date: $0.00 ;
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and the amount of any Termination Payment either paid by or made to
the Trust on such Distribution Date:
$0.00
--------------------
(xxv) the Class I-A-1 Cap Payment paid to the Cap Provider on such Distribution Date: $0.00 ;
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the Class I-A-2 Cap Payment paid to the Cap Provider on such Distribution Date: $0.00 ;
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Class I-B Cap Payment paid to the Cap Provider on such Distribution Date: $0.00 ;
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Class II-A-1 Cap Payment paid to the Cap Provider on such Distribution Date $0.00 ; and
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Class II-A-2 Cap Payment paid to the Cap Provider on such Distribution Date: $0.00 .
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Page 4 of 4