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Previous: PRUDENTIAL SEC SECURED FIN COR COM MOR PA TH CE S 1995 MCF-2, 8-K, 1996-08-28 |
Next: ROBERTS REALTY INVESTORS INC, DEFA14A, 1996-08-28 |
June 24, 1996
VIA EDGAR FILING SYSTEM
Securities and Exchange Commission
450 - 5th Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
Re: The National Collegiate Trust 1996-S1
Collateralized Student Loan Bonds, Series 1996-S1
Registration Number 33-63616
Ladies and Gentlemen:
Enclosed for filing is the Current Report on Form 8-K dated
May 31, 1996 with exhibits for the referenced series of collateralized
student loan bonds.
If you have any questions, please telephone the undersigned at
(212) 551-1470.
Very truly yours,
THE NATIONAL COLLEGIATE TRUST 1996-S1
BY: The First Marblehead Corporation,
its Agent
BY:
Name: Victor M. Samra, Jr.
Title: Chief Operating Officer
Enclosures:
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 31, 1996
THE NATIONAL COLLEGIATE TRUST 1996-S1 (as issuer under the Indenture, dated as
of April 1, 1996, providing for the issuance of 7.45% Collateralized Student
Loan Bonds, Series 1996-S1)
The National Collegiate Trust 1996-S1
(Exact name of Issuer as specified in its charter)
Delaware 33-63616 51-6503559
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
c/o Delaware Trust Company
900 Market Street
Wilmington, Delaware 19801
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (302) 421-7748
Item 7. Financial Statements and Exhibits
(a) Not applicable
99.1 Monthly Servicer Report, dated May 31, 1996, prepared
by the Pennsylvania Higher Education Assistance Agency,
as Servicer.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the issuer has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
NATIONAL COLLEGIATE TRUST 1996-S1
By: DELAWARE TRUST COMPANY, not in its
individual capacity but as Owner
Trustee
By: /S/ Richard N. Smith
Name: Richard N. Smith
Title: Vice President
Dated: June 24, 1996
EXHIBITS TABLE
99.1 Monthly Servicer Report, dated May 31, 1996, prepared by the
Pennsylvania Higher Education Assistance Agency, as servicer.
EXHIBIT 99.1
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 05/31/96
PORTFOLIO # 99999 / STATUS = IN-SCHOOL
NO. BORROWER GOVT. LT.CHARGES NO. BORROWER GOVT.
NOTES PRINCIPAL INTEREST INTEREST COLLECTED NOTES PRINCIPAL INTEREST INTEREST
______ ______________ _____________ _____________ __________ ______ ______________ _____________ _____________
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1.BEGINNING BALANCE 1125 2,393,505.91 60,236.14 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 0 .00 .00 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS 14 1,992.82 319.50 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 14 1,992.82 319.50 .00 .00
5.NON-CASH COLLECTION
A.DEBITS
1.REVERSALS-ADV 0 .00 .00 .00 .00
2.ADJUST-ADVICE 1 106.74 .00 .00 .00
3.WRITE-UPS-GEN 0 .00 .00 .00 .00
4.CAPITAL INT. 0 .00 .00 .00 .00
5.WRITE-UPS 0 .00 .00 .00 .00
6.RESALES 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS-ADV. 0 .00 .00 .00 .00
2.ADJUST-ADVICE 4 2,500.00 168.85 .00 .00
3.WRITE-OFFS-GE 0 .00 .00 .00 .00
4.PAYOFFS-CLAIM 0 .00 .00 .00 .00
5.CAPITAL INT. 0 .00 .00 .00 .00
6.WRITE-OFFS 2 106.74 .00 .00 .00
7.CANCELLATIONS 1 4,174.00 .00 .00 .00
C.TOTAL NON-CASH 8 6,674.00 168.85 .00 .00
6.TRANSFERS OUT 2 13,300.00 367.11 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 1123 2,371,539.09 59,380.68 .00
9.CURRENT MONTH ACCRUALS 17,398.21 .00
10.ADJS PREV PDS EARNINGS 168.85 .00
11.ADJS PREV PDS EARNINGS-CLAIMS
A.DEBITS .00 .00
B.CREDITS .00 .00
C.TOT ADJS PREV PDS EARN-CLAIMS .00 .00
12.SYSTEM REMOVALS 2 6,674.00 168.84 .00
13.ENDING BALANCE 1121 2,371,539.09 76,778.89 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 05/31/96
PORTFOLIO # 99999 / STATUS = IN-GRACE
NO. BORROWER GOVT. LT.CHARGES NO. BORROWER GOVT.
NOTES PRINCIPAL INTEREST INTEREST COLLECTED NOTES PRINCIPAL INTEREST INTEREST
______ ______________ _____________ _____________ __________ ______ ______________ _____________ _____________
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1.BEGINNING BALANCE 241 649,352.00 16,505.94 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 2 13,300.00 367.11 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS 1 .00 26.80 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 1 .00 26.80 .00 .00
5.NON-CASH COLLECTION
A.DEBITS
1.REVERSALS-ADV 0 .00 .00 .00 .00
2.ADJUST-ADVICE 0 .00 .00 .00 .00
3.WRITE-UPS-GEN 0 .00 .00 .00 .00
4.CAPITAL INT. 0 .00 .00 .00 .00
5.WRITE-UPS 0 .00 .00 .00 .00
6.RESALES 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS-ADV. 0 .00 .00 .00 .00
2.ADJUST-ADVICE 0 .00 .00 .00 .00
3.WRITE-OFFS-GE 0 .00 .00 .00 .00
4.PAYOFFS-CLAIM 0 .00 .00 .00 .00
5.CAPITAL INT. 0 .00 .00 .00 .00
6.WRITE-OFFS 0 .00 .00 .00 .00
7.CANCELLATIONS 0 .00 .00 .00 .00
C.TOTAL NON-CASH 0 .00 .00 .00 .00
6.TRANSFERS OUT 0 .00 .00 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 243 662,652.00 16,846.25 .00
9.CURRENT MONTH ACCRUALS 4,899.30 .00
10.ADJS PREV PDS EARNINGS .00 .00
11.ADJS PREV PDS EARNINGS-CLAIMS
A.DEBITS .00 .00
B.CREDITS .00 .00
C.TOT ADJS PREV PDS EARN-CLAIMS .00 .00
12.SYSTEM REMOVALS 0 .00 .00 .00
13.ENDING BALANCE 243 662,652.00 21,745.55 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 05/31/96
PORTFOLIO # 99999 / STATUS = PAYOUT
NO. BORROWER GOVT. LT.CHARGES NO. BORROWER GOVT.
NOTES PRINCIPAL INTEREST INTEREST COLLECTED NOTES PRINCIPAL INTEREST INTEREST
______ ______________ _____________ _____________ __________ ______ ______________ _____________ _____________
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1.BEGINNING BALANCE 1 3,900.00 102.58 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 0 .00 .00 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS 0 .00 .00 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 0 .00 .00 .00 .00
5.NON-CASH COLLECTION
A.DEBITS
1.REVERSALS-ADV 0 .00 .00 .00 .00
2.ADJUST-ADVICE 0 .00 .00 .00 .00
3.WRITE-UPS-GEN 0 .00 .00 .00 .00
4.CAPITAL INT. 0 .00 .00 .00 .00
5.WRITE-UPS 0 .00 .00 .00 .00
6.RESALES 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS-ADV. 0 .00 .00 .00 .00
2.ADJUST-ADVICE 0 .00 .00 .00 .00
3.WRITE-OFFS-GE 0 .00 .00 .00 .00
4.PAYOFFS-CLAIM 0 .00 .00 .00 .00
5.CAPITAL INT. 0 .00 .00 .00 .00
6.WRITE-OFFS 0 .00 .00 .00 .00
7.CANCELLATIONS 0 .00 .00 .00 .00
C.TOTAL NON-CASH 0 .00 .00 .00 .00
6.TRANSFERS OUT 0 .00 .00 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 1 3,900.00 102.58 .00
9.CURRENT MONTH ACCRUALS 29.72 .00
10.ADJS PREV PDS EARNINGS .00 .00
11.ADJS PREV PDS EARNINGS-CLAIMS
A.DEBITS .00 .00
B.CREDITS .00 .00
C.TOT ADJS PREV PDS EARN-CLAIMS .00 .00
12.SYSTEM REMOVALS 0 .00 .00 .00
13.ENDING BALANCE 1 3,900.00 132.30 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 05/31/96
PORTFOLIO # 99999 / STATUS = TOTAL
NO. BORROWER GOVT. LT.CHARGES NO. BORROWER GOVT.
NOTES PRINCIPAL INTEREST INTEREST COLLECTED NOTES PRINCIPAL INTEREST INTEREST
______ ______________ _____________ _____________ __________ ______ ______________ _____________ _____________
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1.BEGINNING BALANCE 1367 3,046,757.91 76,844.66 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 2 13,300.00 367.11 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS 15 1,992.82 346.30 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 15 1,992.82 346.30 .00 .00
5.NON-CASH COLLECTION
A.DEBITS
1.REVERSALS-ADV 0 .00 .00 .00 .00
2.ADJUST-ADVICE 1 106.74 .00 .00 .00
3.WRITE-UPS-GEN 0 .00 .00 .00 .00
4.CAPITAL INT. 0 .00 .00 .00 .00
5.WRITE-UPS 0 .00 .00 .00 .00
6.RESALES 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS-ADV. 0 .00 .00 .00 .00
2.ADJUST-ADVICE 4 2,500.00 168.85 .00 .00
3.WRITE-OFFS-GE 0 .00 .00 .00 .00
4.PAYOFFS-CLAIM 0 .00 .00 .00 .00
5.CAPITAL INT. 0 .00 .00 .00 .00
6.WRITE-OFFS 2 106.74 .00 .00 .00
7.CANCELLATIONS 1 4,174.00 .00 .00 .00
C.TOTAL NON-CASH 8 6,674.00 168.85 .00 .00
6.TRANSFERS OUT 2 13,300.00 367.11 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 1367 3,038,091.09 76,329.51 .00
9.CURRENT MONTH ACCRUALS 22,327.23 .00
10.ADJS PREV PDS EARNINGS 168.85 .00
11.ADJS PREV PDS EARNINGS-CLAIMS
A.DEBITS .00 .00
B.CREDITS .00 .00
C.TOT ADJS PREV PDS EARN-CLAIMS .00 .00
12.SYSTEM REMOVALS 2 6,674.00 168.84 .00
13.ENDING BALANCE 1365 3,038,091.09 98,656.74 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
DELINQUENCY/CLAIM/STATUS REPORT
(NOTE 047 - PART2)
DATE 05/31/96
PORTFOLIO 99999
NUMB NUMB OUTSTANDING PRINCIPAL BALANCE OUTSTANDING ACCRUED INTEREST RECEIVABLE
_____________________________________________________ ________________________________________________
NOTES BORR SUBSIDIZED NON-SUB TOTAL % TOT INSURED NON-INSURED TOTAL % TOT
_____ _____ __________ _______ _____ _____ _______ ___________ _____ _____
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INTERIM:
_______
IN-SCHOOL 1,121 1,121 .00 2,371,539.09 2,371,539.09 78.06 76,778.89 .00 76,778.89 77.82
GRACE 243 243 .00 662,652.00 662,652.00 21.81 21,745.55 .00 21,745.55 22.04
TOT INTERIM 1,364 1,364 .00 3,034,191.09 3,034,191.09 99.87 98,524.44 .00 98,524.44 99.87
DELINQUENT:
30-60 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
61-90 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
91-120 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
121-150 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
151-180 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
OVER 180 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
TOT INTERIM 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
CLAIMS IN PROCESS:
DEATH 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
DISABILITY 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
BANKRUPTCY 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
DEFAULT 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
TOT INTERIM 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
1 - 75 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
OVER 75 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
TOTAL ENROLLED 1,121 1,121 .00 2,371,539.09 2,371,539.09 78.06 76,778.89 .00 76,778.89 77.82
TOTAL GRACE 243 243 .00 662,652.00 662,652.00 21.81 21,745.55 .00 21,745.55 22.04
TOTAL INTERIM 1,364 1,364 .00 3,034,191.09 3,034,191.09 99.87 98,524.44 .00 98,524.44 99.87
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
DELINQUENCY/CLAIM/STATUS REPORT
(NOTE 047 - PART2)
DATE 05/31/96
PORTFOLIO 99999
NUMB NUMB OUTSTANDING PRINCIPAL BALANCE OUTSTANDING ACCRUED INTEREST RECEIVABLE
_____________________________________________________ ________________________________________________
NOTES BORR SUBSIDIZED NON-SUB TOTAL % TOT INSURED NON-INSURED TOTAL % TOT
_____ _____ __________ _______ _____ _____ _______ ___________ _____ _____
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
REPAYMENT:
_________
ACTIVE CURRENT 1 1 .00 3,900.00 3,900.00 0.13 132.30 .00 132.30 0.13
FOREBEARANCE 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
DEFERRED 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
TOT REPAYMENT 1 1 .00 3,900.00 3,900.00 0.13 132.30 .00 132.30 0.13
DELINQUENT:
30-60 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
61-90 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
91-120 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
OVER 120 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
TOT REPAYMENT 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
CLAIMS IN PROCESS:
DEATH 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
DISABILITY 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
BANKRUPTCY 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
DEFAULT 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
TOT REPAYMENT 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
1-75 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
OVER 75 DAYS 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
TOT ACTIVE 1 1 .00 3,900.00 3,900.00 0.13 132.30 .00 132.30 0.13
TOT FOREBEAR 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
TOT DEFER 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
TOT REPAYMENT 1 1 .00 3,900.00 3,900.00 0.13 132.30 .00 132.30 0.13
PORT TOTAL 1,365 1,365 .00 3,038,091.09 3,038,091.09 98,656.74 .00 98,656.74
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
049 PORTFOLIO CHARACTERISTICS REPORT - NOTE LEVEL DATE 05/31/96 5
-----------TERMS (ANTICIPATED)----------
GRADUATION GRACE FINAL PAYOUT
$ WTD TOTAL ------------ ------------ ------------
NO. NO. INTEREST UNPAID STND $ WTD STND $ WTD STND $ WTD
LOANS BORROWERS RATE PRINCIPAL AVE AVE AVE AVE AVE AVE
------- --------- -------- -------------- ---- ----- ---- ----- ---- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TOTAL NATIONAL COLLEGIATE
IN-SCHOOL 1,359 1,359 8.67639 3,018,641.09 22 19 3 3 56 69
IN-GRACE 5 5 8.73392 15,550.00 0 0 89 87
IN-PAYOUT 1 1 9.00000 3,900.00 0 0
NATIONAL COLLEGIATE 1,365 1,365 8.67710 3,038,091.09 21 19 3 3 56 69
</TABLE>
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