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Exhibit 99(a)
KEYCORP STUDENT LOAN TRUST 1999-A
CERTIFICATEHOLDERS' STATEMENT
pursuant to Section 5.07(b) of Sale and
Servicing Agreement (capitalized terms used herein are defined in Appendix A
thereto)
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Distribution Date: June 28, 1999
(i) Amount of principal being paid or distributed:
(a) Certificates (1) $0.00
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(2) ( $ - , per-$1,000 original principal amount of the Certificates)
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(ii) Amount of interest being paid or distributed on:
(a) Certificates (1) $767,360.72 5.7439568% (Based on 3-Month LIBOR)
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(2) ( $ 0.0000222022 , per $1,000 original principal amount of the Certificates)
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(b) (1) 3 Mo Libor for the reporting period from the previous Distribution Date was: 5.2500000%
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(2) The Student Loan Rate was: Not Applicable
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(iii) Amount of Certificateholders' Interest Index Carryover being paid or
distributed (if any) and amount remaining (if any):
(a) Distributed: (1) $0.00
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(2) ( $ - , per-$1,000 original principal amount of the Certificates)
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(b) Balance: (1) $ - -
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(2) ( $ - , per-$1,000 original principal amount of the Certificates)
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(iv) Pool Balance at end of related Collection Period: $793,312,531.00
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(v) After giving effect to distributions on this Distribution Date:
(a) (1) Certificate Balance: $34,600,000.00
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(2) Certificate Pool Factor: 1.00000000
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(vi) (a) (1) Amount of Servicing Fee for related Collection Period: $1,386,712.92
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(2) $ 40.0784081 , per $1,000 original principal amount of the Notes.
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(b) Amount of Excess Servicing Fee being distributed and remaining balance (if any):
(1) Distributed: $0.00
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$ - , per-$1,000 original principal amount of the Certificates)
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(2) Balance: $0.00
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$ - , per-$1,000 original principal amount of the Certificates)
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(c) Amount of Administration Fee for related Collection Period: $3,000.00
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$ 0.0867052 , per $1,000 original principal amount of the Certificates)
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(vii) (a) Aggregate amount of Realized Losses (if any) for the related Collection Period: $299.80
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(b) Delinquent Contracts # Disb. % $ Amount %
------- - -------- -
30-60 Days Delinquent 1,170 1.96% $ 14,015,983,983 2.89%
61-90 Days Delinquent 1,018 1.71% $ 9,529,573,573 1.97%
91-120 Days Delinquent 501 0.84% $ 5,171,083,083 1.07%
More than 120 Days Delinquent 887 1.49% $ 8,427,762,762 1.74%
Claims Filed Awaiting Payment 178 0.30% $ 1,633,019,019 0.34%
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TOTAL 3,754 6.30% $ 38,777,420,420 8.00%
(viii)Amount in the Reserve Account: $2,595,000.00
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(ix) Amount in the Prefunding Account: $1,471,315.23
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(x) Amount in the Subsequent Pre-Funding Subaccount at the end of the
Subsequent Funding Period to be distributed as a payment of principal in
respect of Notes: $0.00
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(xi) Amount in the Other Additional Prefunding Account at the end of the
Subsequent Funding Period to be distributed as a payment of principal in
respect of Notes: $0.00
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(xii) (a) Cumulative TERI Claims Ratio as of Distribution Date 0.48%
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(b) TERI Trigger Event has not occured.
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