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Exhibit 99(a)
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, 2004
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(i) Amount of PRINCIPAL being paid or distributed in respect of the CLASS I-A-1 Notes: $ 6,269,952.86
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( $0.00007664979 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: $17,382,870.12
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( $0.00012972291 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: $ 85,824.16
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( $0.00000104920 per $1,000 original principal amount of Class I-A-1 Notes)
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(vii) Amount of INTEREST being paid or distributed in respect of the CLASS I-A-2 Notes: $ 629,113.33
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( $0.00000343778 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: $ 38,760.94
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( $0.00000472694 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: $ 238,493.46
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( $0.00000177980 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: $ 2,198,610.56
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( $0.00000396861 per $1,000 original principal amount of Class II-A-2 Notes)
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(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
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( $0.00000000000 per $1,000 original principal amount of Class II-A-1 Notes)
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(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
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( $0.00000000000 per $1,000 original principal amount of Class I-A-1 Notes)
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Page 5 of 8 pages
(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
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( $0.00000000000 per $1,000 original principal amount of Class I-B Notes)
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(9) Balance on Class II-A-1 Notes: $0.00
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( $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
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( $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
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$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
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$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: $212,529,033.67 and
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(Y) GROUP II POOL BALANCE at the end of the related Collection Period: $605,808,789.52
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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: $21,333,636.80
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(2)Pool Factor for the Class I-A-1 Notes: 0.260802400
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(b) (1)outstanding principal amount of CLASS I-A-2 Notes: $183,000,000.00
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(2)Pool Factor for the Class I-A-2 Notes: 1.000000000
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(c) (1)outstanding principal amount of CLASS I-B Notes: $8,200,000.00
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(2)Pool Factor for the Class I-B Notes: 1.000000000
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(d) (1)outstanding principal amount of CLASS II-A-1 Notes: $55,193,331.38
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(2)Pool Factor for the Class II-A-1 Notes: 0.411890500
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(e) (1)outstanding principal amount of CLASS II-A-2 Notes: $554,000,000.00
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(2)Pool Factor for the Class II-A-2 Notes: 1.000000000
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(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 1.17000%
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(2) the Student Loan Rate was for Group I: 5.79969% and Group II: 3.48873%
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Page 6 of 8 pages
(b) Note Interest Rate for the CLASS I-A-1 Notes: 1.23000% based on Index-based Rate
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(c) Note Interest Rate for the CLASS I-A-2 Notes: 1.36000% based on Index-based Rate
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(d) Note Interest Rate for the CLASS I-B Notes: 1.87000% based on Index-based Rate
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(e) Note Interest Rate for the CLASS II-A-1 Notes: 1.30000% based on Index-based Rate
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(f) Note Interest Rate for the CLASS II-A-2 Notes: 1.57000% based on Index-based Rate
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(xvi) Amount of MASTER SERVICING FEE for related Collection Period:
$267,981.49 with respect to the GROUP I Student Loans and
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$764,951.05 with respect to the GROUP II Student Loans
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( $0.00000327606 per $1,000 original principal amount of Class I-A-1 Notes,
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$0.00000146438 per $1,000 original principal balance of Class I-A-2 Notes
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$0.00003268067 per $1,000 original principal balance of Class I-B Notes,
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$0.00000570859 per $1,000 original principal balance of Class II-A-1 Notes and
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$0.00000138078 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:
$779.12 with respect to the GROUP I Notes and
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$2,220.88 with respect to the GROUP II Notes
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( $0.00000000952 per $1,000 original principal amount of Class I-A-1 Notes,
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$0.00000000426 per $1,000 original principal balance of Class I-A-2 Notes
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$0.00000009501 per $1,000 original principal balance of Class I-B Notes,
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$0.00000001657 per $1,000 original principal balance of Class II-A-1 Notes and
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$0.00000000401 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
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$3,171,199.35 with respect to the GROUP II Student Loans
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(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 297 $5,321,992
61-90 Days Delinquent 116 $1,817,421
91-120 Days Delinquent 18 $436,924
More than 120 Days Delinquent 106 $2,116,520
Claims Filed Awaiting Payment 12 $149,021
and with respect to the GROUP II Student Loans.
# of
Loans $ Amount
30-60 Days Delinquent 1,467 $18,818,987
61-90 Days Delinquent 690 $8,633,070
91-120 Days Delinquent 394 $4,808,913
More than 120 Days Delinquent 165 $4,053,045
Claims Filed Awaiting Payment 142 $1,919,663
Page 7 of 8 pages
(xix) Amount in the GROUP I PRE-FUNDING Account: $0.00
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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
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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: $0.00
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(xx) Amount in the GROUP II PRE-FUNDING Account: $3,384,541.86
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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
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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
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(xxi) Amount of the INSURER PREMIUM paid to the Securities Insurer on such Distribution Date $190,061.45
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(xxii) Amount received from the Securities Insurer with respect to the Group II Notes Guaranty Insurance
Policy: $0.00
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(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
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(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: $19,662.84;
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the amount of any Net Trust Swap Payment Carryover Shortfall for such Distribution Date: $0.00;
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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
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(B) with respect to the GROUP II INTEREST RATE SWAP:
the Trust Swap Payment Amount paid to the Swap Counterparty on such Distribution Date: $43,374.25;
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the amount of any Net Trust Swap Payment Carryover Shortfall for such Distribution Date: $0.00;
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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
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(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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