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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: NOVEMBER 29, 2004
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(i) Amount of PRINCIPAL being paid or distributed in respect of the CLASS I-A-1 Notes: $5,126,584.79
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( $0.00006267219 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: $16,908,539.81
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( $0.00012618313 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: $50,425.54
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( $0.00000061645 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: $936,553.33
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( $0.00000511778 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: $52,885.44
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( $0.00000644944 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: $114,235.80
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( $0.00000085251 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: $3,139,025.56
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( $0.00000566611 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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(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: $196,626,370.91 and
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(Y) GROUP II POOL BALANCE at the end of the related Collection Period: $560,117,713.17
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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: $5,426,370.91
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(2) Pool Factor for the Class I-A-1 Notes: 0.066337100
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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: $6,117,713.17
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(2) Pool Factor for the Class II-A-1 Notes: 0.045654600
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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 1.77000%
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(2) the Student Loan Rate was for Group I: 5.69160% and Group II: 3.85006%
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(b) Note Interest Rate for the CLASS I-A-1 Notes: 1.83000% based on Index-based Rate
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(c) Note Interest Rate for the CLASS I-A-2 Notes: 1.96000% based on Index-based Rate
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(d) Note Interest Rate for the CLASS I-B Notes: 2.47000% based on Index-based Rate
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(e) Note Interest Rate for the CLASS II-A-1 Notes: 1.90000% based on Index-based Rate
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(f) Note Interest Rate for the CLASS II-A-2 Notes: 2.17000% based on Index-based Rate
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(xvi) Amount of MASTER SERVICING FEE for related Collection Period:
$247,743.13 with respect to the GROUP I Student Loans and
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$706,870.50 with respect to the GROUP II Student Loans
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( $0.00000302864 per $1,000 original principal amount of Class I-A-1 Notes,
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$0.00000135379 per $1,000 original principal balance of Class I-A-2 Notes
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$0.00003021258 per $1,000 original principal balance of Class I-B Notes,
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$0.00000527515 per $1,000 original principal balance of Class II-A-1 Notes and
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$0.00000127594 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:
$779.50 with respect to the GROUP I Notes and
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$2,220.50 with respect to the GROUP II Notes
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( $0.00000000953 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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$0.00000009506 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:
$3,244.47 with respect to the GROUP I Student Loans
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$5,347,914.27 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 98 $3,287,321
61-90 Days Delinquent 67 $1,436,630
91-120 Days Delinquent 47 $1,123,950
More than 120 Days Delinquent 113 $2,308,001
Claims Filed Awaiting Payment 14 $139,223
and with respect to the GROUP II Student Loans.
# of
Loans $ Amount
30-60 Days Delinquent 1,174 $11,864,396
61-90 Days Delinquent 541 $5,905,302
91-120 Days Delinquent 253 $2,747,165
More than 120 Days Delinquent 134 $1,635,781
Claims Filed Awaiting Payment 111 $1,724,802
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(xviiii) Amount of the INSURER PREMIUM paid to the Securities Insurer on such Distribution Date $176,954.72
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(xx) Amount received from the Securities Insurer with respect to the Group II Notes Guaranty Insurance
Policy: $0.00
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(xxi) 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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(xxii) (A) with respect to the GROUP I INTEREST RATE SWAP:
the Trust Swap Payment Amount paid to the Swap Counterparty on such Distribution Date: $49,903.74
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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: $8,937.15
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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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(xxiii) 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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