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 28, 2005
(i) Amount of principal being paid or distributed in respect of the Class I-A-1 Notes: $5,426,370.91
($0.00006633705 per $1,000 original principal amount of Class I-A-1 Notes)
(ii) Amount of PRINCIPAL being paid or distributed in respect of the CLASS I-A-2 Notes: $747,716.77
($0.00000408588 per $1,000 original principal amount of Class II-A-2 Notes)
(iii) Amount of PRINCIPAL being paid or distributed in respect of the CLASS I-B Notes: $0.00
($0.00000000000 per $1,000 original principal amount of Class I-B Notes)
(iv) Amount of PRINCIPAL being paid or distributed in respect of the CLASS II-A-1 Notes: $6,117,713.17
($0.00004565458 per $1,000 original principal amount of Class II-A-1 Notes)
(v) Amount of PRINCIPAL being paid or distributed in respect of the CLASS II-A-2 Notes: $8,171,188.60
($0.00001474944 per $1,000 original principal amount of Class II-A-2 Notes)
(vi) Amount of INTEREST being paid or distributed in respect of the CLASS I-A-1 Notes: $33,477.29
($0.00000040926 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: $1,189,130.59
($0.00000649798 per $1,000 original principal amount of Class I-A-2 Notes)
(viii) Amount of INTEREST being paid or distributed in respect of the CLASS I-B Notes: $63,854.61
($0.00000778715 per $1,000 original principal amount of Class I-B Notes)
(ix) Amount of INTEREST being paid or distributed in respect of the CLASS II-A-1 Notes: $38,824.93
($0.00000028974 per $1,000 original principal amount of Class II-A-1 Notes)
(x) Amount of INTEREST being paid or distributed in respect of the CLASS II-A-2 Notes: $3,893,963.36
($0.00000702881 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
($0.00000000000 per $1,000 original principal amount of Class I-A-1 Notes)
(2) Distributed to Class I-A-2 Noteholders: $0.00
($0.00000000000 per $1,000 original principal amount of Class I-A-2 Notes)
(3) Distributed to Class I-B Noteholders: $0.00
($0.00000000000 per $1,000 original principal amount of Class I-B Notes)
(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
($0.00000000000 per $1,000 original principal amount of Class II-A-2 Notes)
(6) Balance on Class I-A-1 Notes: $0.00
($0.00000000000 per $1,000 original principal amount of Class I-A-1 Notes)
(7) Balance on Class I-A-2 Notes: $0.00
($0.00000000000 per $1,000 original principal amount of Class I-A-2 Notes)
(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)
(10) Balance on Class II-A-2 Notes: $0.00
($0.00000000000 per $1,000 original principal amount of Class II-A-2 Notes)
(xii) (X) Payments made under the Group I Cap Agreement on such date:
($0.00 with respect to the Class I-A-1 Notes,
$0.00 with respect to Class I-A-2 Notes, and
$0.00 with respect to Class I-B Notes), and
(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
the total outstanding amount owed to the Cap Provider:
$0.00 with respect to the Group I Cap Agreement and
$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: $190,452,283.23 and
(Y) GROUP II POOL BALANCE at the end of the related Collection Period: $545,828,811.40
(xiv) After giving effect to distributions on this Distribution Date:
(a) (1)OUTSTANDING PRINCIPAL amount of CLASS I-A-1 Notes: $0.00
(2)Pool Factor for the Class I-A-1 Notes: -
(b) (1)outstanding principal amount of CLASS I-A-2 Notes: $182,252,283.23
(2)Pool Factor for the Class I-A-2 Notes: 0.995914100
(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: $0.00
(2)Pool Factor for the Class II-A-1 Notes: -
(e) (1)outstanding principal amount of CLASS II-A-2 Notes: $545,828,811.40
(2)Pool Factor for the Class II-A-2 Notes: 0.985250600
(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 2.38063%
(2)the Student Loan Rate was for Group I: 6.00695% and Group II: 4.50203%
(b) Note Interest Rate for the CLASS I-A-1 Notes: 2.44063% based on Index-based Rate
(c) Note Interest Rate for the CLASS I-A-2 Notes: 2.57063% based on Index-based Rate
(d) Note Interest Rate for the CLASS I-B Notes: 3.08063% based on Index-based Rate
(e) Note Interest Rate for the CLASS II-A-1 Notes: 2.51063% based on Index-based Rate
(f) Note Interest Rate for the CLASS II-A-2 Notes: 2.78063% based on Index-based Rate
(xvi) Amount of MASTER SERVICING FEE for related Collection Period:
$240,707.63 with respect to the GROUP I Student Loans and
$687,948.92 with respect to the GROUP II Student Loans
($0.00000294264 per $1,000 original principal amount of Class I-A-1 Notes,
$0.00000131534 per $1,000 original principal balance of Class I-A-2 Notes
$0.00002935459 per $1,000 original principal balance of Class I-B Notes,
$0.00000513395 per $1,000 original principal balance of Class II-A-1 Notes and
$0.00000124179 per $1,000 original principal balance of Class II-A-2 Notes);
(xvii) Amount of ADMINISTRATION FEE for related Collection Period:
$776.00 with respect to the GROUP I Notes and
$2,224.00 with respect to the GROUP II Notes
($0.00000000949 per $1,000 original principal amount of Class I-A-1 Notes,
$0.00000000424 per $1,000 original principal balance of Class I-A-2 Notes
$0.00000009463 per $1,000 original principal balance of Class I-B Notes,
$0.00000001660 per $1,000 original principal balance of Class II-A-1 Notes and
$0.00000000401 per $1,000 original principal balance of Class II-A-2 Notes);
(xviii) (a) Aggregate amount of REALIZED LOSSES (if any) for the related Collection Period:
$52.49 with respect to the GROUP I Student Loans
$2,822,171.01 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 218 $4,159,657
61-90 Days Delinquent 94 $1,716,061
91-120 Days Delinquent 34 $590,632
More than 120 Days Delinquent 91 $1,910,385
Claims in Process 474 $439,568
and with respect to the GROUP II Student Loans.
# of
Loans $ Amount
30-60 Days Delinquent 1,097 $10,857,684
61-90 Days Delinquent 464 $5,221,582
91-120 Days Delinquent 212 $2,422,498
More than 120 Days Delinquent 111 $1,347,421
Claims in Process 1,997 $1,481,593
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(xviiii) Amount of the INSURER PREMIUM paid to the Securities Insurer on such Distribution Date $169,902.37
(xx) Amount received from the Securities Insurer with respect to the Group II Notes Guaranty Insurance
Policy: $0.00
(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
(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: $0.00;
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: $2,903.08;
the Net Trust Swap Receipt Carryover Shortfall for such Distribution Date: $0.00;
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: $0.00;
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: $24,120.86;
the Net Trust Swap Receipt Carryover Shortfall for such Distribution Date: $0.00;
and the amount of any Termination Payment either paid by or made to
the Trust on such Distribution Date:
$0.00
(xxiii) the Class I-A-1 Cap Payment paid to the Cap Provider on such Distribution Date: $0.00;
the Class I-A-2 Cap Payment paid to the Cap Provider on such Distribution Date: $0.00;
Class I-B Cap Payment paid to the Cap Provider on such Distribution Date: $0.00;
Class II-A-1 Cap Payment paid to the Cap Provider on such Distribution Date $0.00; and
Class II-A-2 Cap Payment paid to the Cap Provider on such Distribution Date: $0.00.
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