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Exhibit 99(b)
KEYCORP STUDENT LOAN TRUST 1999-A
NOTEHOLDERS' 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) Class A-1 Notes: (1) $71,687,469.00
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(2) ( $ 0.0002757 , per $1,000 original principal amount of the Notes)
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(b) Class A-2 Notes: (1) $0.00
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(2) ( $ - , per-$1,000 original principal amount of the Notes)
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(ii) Amount of interest being paid or distributed on:
(a) Class A-1 Notes: (1) $5,153,922.22 5.1339568% (Based on 3-Month LIBOR)
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(2) ( $ 0.0000198 , per $1,000 original principal amount of the Notes)
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(b) Class A-2 Notes: (1) $11,725,364.22 5.3239568% (Based on 3-Month LIBOR)
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(2) ( $ 0.0000206 , per $1,000 original principal amount of the Notes)
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(c) (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 Noteholders' 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 Notes)
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(b) Balance: (1) $ -
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(2) ( $ - , per-$1,000 original principal amount of the Notes)
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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) Outstanding principal amount of Class A-1 Notes: $188,312,531.00
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(2) Class A-1 Note Pool Factor: 0.72427897
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(b) (1) Outstanding principal amount of Class A-2 Notes: $570,400,000.00
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(2) Class A-2 Note Pool Factor: 1.00000000
(vi) (a) (1) Amount of Servicing Fee for related Collection Period: $1,386,712.92
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(2) $ 1.6699337 , 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 Notes.
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(2) Balance: $0.00
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$ - , per-$1,000 original principal amount of the Notes.
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(c) Amount of Administration Fee for related Collection Period: $3,000.00
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$ 0.0036127 , per $1,000 original principal amount of the Notes
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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 2.89%
61-90 Days Delinquent 1,018 1.71% $ 9,529,573 1.97%
91-120 Days Delinquent 501 0.84% $ 5,171,083 1.07%
More than 120 Days Delinquent 887 1.49% $ 8,427,762 1.74%
Claims Filed Awaiting Payment 178 0.30% $ 1,633,019 0.34%
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TOTAL 3,754 6.30% $38,777,420 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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