1
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)
================================================================================
Distribution Date: September 27, 1999
(i) Amount of principal being paid or distributed:
(a) Certificates (1) $0.00
--------------------
(2) $ - , per-$1,000 original
-------------------- principal amount of the
Certificates)
(ii) Amount of interest being paid or distributed on:
(a) Certificates (1) $525,969.26 6.0137500% (Based on 3-Month
-------------------- --------------- LIBOR)
(2) $ 0.0000152 per $1,000 original principal
-------------------- amount of the Certificates)
(b) (1) 3 Mo. Libor for the reporting period from the previous
Distribution Date was: 5.0000000%
----------
(2) The Student Loan Rate was: Not Applicable
--------------------
(iii) Amount of Certificateholders' Interest Index Carryover being paid or
distributed (if any) and amount remaining (if any):
(a) Distributed: (1) $0.00
-------------
(2) $ - , per $1,000 original principal
------------- amount of the Certificates)
(b) Balance: (1) $ -
-------------
(2) $ - , per $1,000 original principal
------------- amount of the Certificates)
(iv) Pool Balance at end of related Collection Period: $741,933,471.35
-----------------
(v) After giving effect to distributions on this Distribution Date:
(a) (1) Certificate Balance: $34,600,000.00
----------------
(2) Certificate Pool Factor: 1.00000000
----------------
(vi)(a)(1) Amount of Servicing Fee for related Collection Period: $809,773.61
(2) $ 23.4038616, per $1,000 original principal amount of the Notes.
------------
(b) Amount of Excess Servicing Fee being distributed and remaining balance
(if any):
(1) Distributed: $0.00
--------------
$ - , per $1,000 original principal
-------------- amount of the Certificates)
(2) Balance: $0.00
--------------
$ - , per $1,000 original principal
-------------- amount of the Certificates)
(c) Amount of Administration Fee for related Collection Period: $3,000.00
----------
$ 0.0867052 per $1,000 original principal amount of
-------------------- the Certificates)
5
2
(vii) (a) Aggregate amount of Realized Losses (if any) for the related
Collection Period: $0.00
-----
(b) Delinquent Contracts # Disb. % $ Amount %
------- ----- ------------ -------
30-60 Days Delinquent 1,352 2.05% $ 14,902,517 2.94%
61-90 Days Delinquent 605 0.92% $ 7,137,868 1.41%
91-120 Days Delinquent 217 0.33% $ 2,483,768 0.49%
More than 120 Days Delinquent 733 1.11% $ 7,369,726 1.45%
Claims Filed Awaiting Payment 558 0.85% $ 5,280,402 1.04%
------ ------ ------------- ------
TOTAL 3,465 5.26% $ 37,174,281 7.32%
(viii)Amount in the Reserve Account: $2,379,937.59
----------------
(ix) Amount in the Prefunding Account: $24,692.39
----------------
(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
------------
(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
------------
(xii) (a) Cumulative TERI Claims Ration as of Distribution Date 1.72%
----------
(b) TERI Trigger Event has not occured.
10/1/99 11:14 AM
6