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Previous: PROVIDENT FINANCIAL HOLDINGS INC, POS AM, 1996-08-15 |
Next: WESTWOOD HOMESTEAD FINANCIAL CORP, S-8, 1996-08-15 |
July 12, 1996
VIA EDGAR ELECTRONIC 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:
Accompanying this electronic filing is the Current Report on
Form 8-K dated June 30, 1996 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
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): June 30, 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
(b) Pro Forma Financial Information. See (c) below.
(c) Exhibits
99.1 Monthly Servicer Report, dated June 30, 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.
THE 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: July 12, 1996
EXHIBITS TABLE
STATEMENT OF TRANSACTIONS
STATE STREET BANK AND TRUST COMPANY
ACCOUNT AF9469 NATIONAL COL TRUST 96-S1 COLLAT PRO A/C PAGE 1
STATEMENT FOR PERIOD 5/31/96 - 6/30/96
INCOME CASH SUMMARY CASH BALANCE INVESTED CASH
YOUR PRIOR STATEMENT SHOWED A BALANCE OF: .00 .00
CURRENT RECEIPTS
INTEREST: 18.31
TOTAL RECEIPTS: 18.31
CURRENT PAYMENTS
OTHER PAYMENTS: 18.31-
TOTAL PAYMENTS: 18.31-
LEAVING AN INCOME CASH BALANCE OF: .00 .00
PRINCIPAL CASH SUMMARY
YOUR PRIOR STATEMENT SHOWED A BALANCE OF: .00
CURRENT RECEIPTS
CASH ADDITIONS: 3,915.58
OTHER RECEIPTS: 18.31
TOTAL RECEIPTS: 3,933.89
CURRENT PAYMENTS
INVESTMENTS PURCHASED: 3,933.89-
TOTAL PAYMENTS: 3,933.89-
LEAVING A PRINCIPAL CASH BALANCE OF: .00
STATEMENT OF TRANSACTIONS
STATE STREET BANK AND TRUST COMPANY
ACCOUNT AF9469 NATIONAL COL TRUST 96-S1 COLLAT PRO A/C PAGE 2
DATE TYPE/UNITS DESCRIPTION PRINCIPAL INCOME
6/01/96 INT STATE STREET BANK IMMA C T 18.31
INTEREST
6/03/96 18.31 STATE STREET BANK IMMA C T 18.31-
BOT AT 100
6/06/96 1,972.53 STATE STREET BANK IMMA C T 1,972.53-
BOT AT 100
6/06/96 CASH RECEIPT: 1,972.53
DEPOSIT TO COLLATERAL PROCEEDS
FROM ALBRIGHT COLLEGE
6/06/96 TRANSFERRED FROM INCOME 18.31
6/06/96 TRANSFER TO PRINCIPAL 18.31-
6/11/96 686.57 STATE STREET BANK IMMA C T 686.57-
BOT AT 100
6/11/96 CASH RECEIPT: 686.57
DEPOSIT TO COLLATERAL PROCEEDS
FROM ALBRIGHT COLLEGE
6/14/96 CASH RECEIPT: 1,256.48
ACH CREDIT
6/17/96 1,256.48 STATE STREET BANK IMMA C T 1,256.48-
BOT AT 100
6/17/96 BALANCE OF INCOME AT PERIOD END 0.00
STATEMENT OF TRANSACTIONS
STATE STREET BANK AND TRUST COMPANY
ACCOUNT AF9469 NATIONAL COL TRUST 96-S1 COLLAT PRO A/C PAGE 3
6/17/96 BALANCE OF PRINCIPAL AT PERIOD END 0.00
STATEMENT OF TRANSACTIONS
STATE STREET BANK AND TRUST COMPANY
ACCOUNT AF9470 NATIONAL COL TRUST 96-S1 INT SUPPORT A/C PAGE 1
STATEMENT FOR PERIOD 5/31/96 - 6/30/96
INCOME CASH SUMMARY CASH BALANCE INVESTED CASH
YOUR PRIOR STATEMENT SHOWED A BALANCE OF: .00 .00
CURRENT RECEIPTS
INTEREST: 66.36
TOTAL RECEIPTS: 66.36
CURRENT PAYMENTS
OTHER PAYMENTS: 66.36-
TOTAL PAYMENTS: 66.36-
LEAVING AN INCOME CASH BALANCE OF: .00 .00
PRINCIPAL CASH SUMMARY
YOUR PRIOR STATEMENT SHOWED A BALANCE OF: .00
CURRENT RECEIPTS
OTHER RECEIPTS: 66.36
TOTAL RECEIPTS: 66.36
CURRENT PAYMENTS
INVESTMENTS PURCHASED: 66.36-
TOTAL PAYMENTS: 66.36-
LEAVING A PRINCIPAL CASH BALANCE OF: .00
STATEMENT OF TRANSACTIONS
STATE STREET BANK AND TRUST COMPANY
ACCOUNT AF9470 NATIONAL COL TRUST 96-S1 INT SUPPORT A/C PAGE 2
DATE TYPE/UNITS DESCRIPTION PRINCIPAL INCOME
6/01/96 INT STATE STREET BANK IMMA C T 66.36
INTEREST
6/03/96 66.36 STATE STREET BANK IMMA C T 66.36-
BOT AT 100
6/06/96 TRANSFERRED FROM INCOME 66.36
6/06/96 TRANSFER TO PRINCIPAL 66.36-
6/06/96 BALANCE OF INCOME AT PERIOD END 0.00
6/06/96 BALANCE OF PRINCIPAL AT PERIOD END 0.00
STATEMENT OF TRANSACTIONS
STATE STREET BANK AND TRUST COMPANY
ACCOUNT AF9471 NATIONAL COL TRUST 96-S1 RESERVE FUND PAGE 1
STATEMENT FOR PERIOD 5/31/96 - 6/30/96
INCOME CASH SUMMARY CASH BALANCE INVESTED CASH
YOUR PRIOR STATEMENT SHOWED A BALANCE OF: .00 .00
CURRENT RECEIPTS
INTEREST: 5.32
TOTAL RECEIPTS: 5.32
CURRENT PAYMENTS
OTHER PAYMENTS: 5.32-
TOTAL PAYMENTS: 5.32-
LEAVING AN INCOME CASH BALANCE OF: .00 .00
PRINCIPAL CASH SUMMARY
YOUR PRIOR STATEMENT SHOWED A BALANCE OF: .00
CURRENT RECEIPTS
OTHER RECEIPTS: 5.32
TOTAL RECEIPTS: 5.32
CURRENT PAYMENTS
INVESTMENTS PURCHASED: 5.32-
TOTAL PAYMENTS: 5.32-
LEAVING A PRINCIPAL CASH BALANCE OF: .00
STATEMENT OF TRANSACTIONS
STATE STREET BANK AND TRUST COMPANY
ACCOUNT AF9471 NATIONAL COL TRUST 96-S1 RESERVE FUND PAGE 2
DATE TYPE/UNITS DESCRIPTION PRINCIPAL INCOME
6/01/96 INT STATE STREET BANK IMMA C T 5.32
INTEREST
6/03/96 5.32 STATE STREET BANK IMMA C T 5.32-
BOT AT 100
6/06/96 TRANSFERRED FROM INCOME 5.32
6/06/96 TRANSFER TO PRINCIPAL 5.32-
6/06/96 BALANCE OF INCOME AT PERIOD END 0.00
6/06/96 BALANCE OF PRINCIPAL AT PERIOD END 0.00
STATEMENT OF TRANSACTIONS
STATE STREET BANK AND TRUST COMPANY
ACCOUNT AF9472 NATIONAL COL TRUST 96-S1 COI ACCOUNT PAGE 1
STATEMENT FOR PERIOD 5/31/96 - 6/30/96
INCOME CASH SUMMARY CASH BALANCE INVESTED CASH
YOUR PRIOR STATEMENT SHOWED A BALANCE OF: .00 .00
CURRENT RECEIPTS
INTEREST: 42.60
TOTAL RECEIPTS: 42.60
CURRENT PAYMENTS
OTHER PAYMENTS: 42.60-
TOTAL PAYMENTS: 42.60-
LEAVING AN INCOME CASH BALANCE OF: .00 .00
PRINCIPAL CASH SUMMARY
YOUR PRIOR STATEMENT SHOWED A BALANCE OF: .00
CURRENT RECEIPTS
INVESTMENTS SOLD AND MATURED: 1,667.40
OTHER RECEIPTS: 42.60
TOTAL RECEIPTS: 1,710.00
CURRENT PAYMENTS
INVESTMENTS PURCHASED: 42.60-
OTHER PAYMENTS: 1,667.40-
TOTAL PAYMENTS: 1,710.00-
LEAVING A PRINCIPAL CASH BALANCE OF: .00
STATEMENT OF TRANSACTIONS
STATE STREET BANK AND TRUST COMPANY
ACCOUNT AF9472 NATIONAL COL TRUST 96-S1 COI ACCOUNT PAGE 2
DATE TYPE/UNITS DESCRIPTION PRINCIPAL INCOME
6/01/96 INT STATE STREET BANK IMMA C T 42.60
INTEREST
6/03/96 42.60 STATE STREET BANK IMMA C T 42.60-
BOT AT 100
6/06/96 1,667.40 STATE STREET BANK IMMA C T 1,667.40
SOLD AT 100
6/06/96 CASH DISBURSEMENT 1,667.40-
WITHDRAWN FROM COST OF
ISSUANCE ACCOUNT TO PAY
THATCHER PROFFIT & WOOD
DISBURSEMENT EXPENSES
6/06/96 TRANSFERRED FROM INCOME 42.60
6/06/96 TRANSFER TO PRINCIPAL 42.60-
6/06/96 BALANCE OF INCOME AT PERIOD END 0.00
6/06/96 BALANCE OF PRINCIPAL AT PERIOD END 0.00
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 06/30/96
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 1121 2,371,539.09 76,778.89 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 1 4,970.00 163.92 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS 2 .00 44.66 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 2 .00 44.66 .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 1 250.00 .00 .00 .00
6.RESALES 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS-ADV. 0 .00 .00 .00 .00
2.ADJUST-ADVICE 3 500.00 7.76 .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 4 250.00 7.76 .00 .00
6.TRANSFERS OUT 14 37,681.00 1,236.22 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 1108 2,338,578.09 75,654.17 .00
9.CURRENT MONTH ACCRUALS 16,596.19 .00
10.ADJS PREV PDS EARNINGS 7.76 .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 1108 2,338,578.09 92,250.36 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 06/30/96
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 243 662,652.00 21,745.55 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 14 37,681.00 1,236.22 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS 2 4,179.00 84.48 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 2 4,179.00 84.48 .00 .00
5.NON-CASH COLLECTION
A.DEBITS
1.REVERSALS-ADV 0 .00 .00 .00 .00
2.ADJUST-ADVICE 1 .00 .01 .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 1 .00 .01 .00 .00
6.TRANSFERS OUT 4 13,970.00 459.82 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 253 682,184.00 22,437.48 .00
9.CURRENT MONTH ACCRUALS 4,828.76 .00
10.ADJS PREV PDS EARNINGS .01 .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 253 682,184.00 27,266.24 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 06/30/96
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 3,900.00 132.30 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 3 9,000.00 295.90 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS 2 71.88 11.47 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 2 71.88 11.47 .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. 3 295.90 .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. 3 .00 295.90 .00 .00
6.WRITE-OFFS 0 .00 .00 .00 .00
7.CANCELLATIONS 0 .00 .00 .00 .00
C.TOTAL NON-CASH 6 295.90 295.90 .00 .00
6.TRANSFERS OUT 0 .00 .00 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 4 13,124.02 120.83 .00
9.CURRENT MONTH ACCRUALS 94.87 .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 4 13,124.02 215.70 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 06/30/96
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 1365 3,038,091.09 98,656.74 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 18 51,651.00 1,696.04 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS 6 4,250.88 140.61 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 6 4,250.88 140.61 .00 .00
5.NON-CASH COLLECTION
A.DEBITS
1.REVERSALS-ADV 0 .00 .00 .00 .00
2.ADJUST-ADVICE 1 .00 .01 .00 .00
3.WRITE-UPS-GEN 0 .00 .00 .00 .00
4.CAPITAL INT. 3 295.90 .00 .00 .00
5.WRITE-UPS 1 250.00 .00 .00 .00
6.RESALES 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS-ADV. 0 .00 .00 .00 .00
2.ADJUST-ADVICE 3 500.00 7.76 .00 .00
3.WRITE-OFFS-GE 0 .00 .00 .00 .00
4.PAYOFFS-CLAIM 0 .00 .00 .00 .00
5.CAPITAL INT. 3 .00 295.90 .00 .00
6.WRITE-OFFS 0 .00 .00 .00 .00
7.CANCELLATIONS 0 .00 .00 .00 .00
C.TOTAL NON-CASH 11 45.90 303.65 .00 .00
6.TRANSFERS OUT 18 51,651.00 1,696.04 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 1365 3,033,886.11 98,212.48 .00
9.CURRENT MONTH ACCRUALS 21,519.82 .00
10.ADJS PREV PDS EARNINGS 7.75 .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 1365 3,033,886.11 119,732.30 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
DELINQUENCY/CLAIM/STATUS REPORT
(NOTE 047 - PART2)
DATE 06/30/96
PORTFOLIO 99999
NUMB NUMB OUTSTANDING PRINCIPAL BALANCE OUTSTANDING ACCRUED INTEREST RECEIVABLE
_____________________________________________________ ________________________________________________
NOTES BORR SUBSIDIZED NON-SUB TOTAL % TOT NON-INSURED INSURED TOTAL % TOT
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
_____ _____ __________ _______ _____ _____ ___________ _______ _____ _____
INTERIM:
_______
IN-SCHOOL 1,108 1,108 .00 2,338,578.09 2,338,578.09 77.08 92,250.36 .00 92,250.36 77.05
GRACE 253 253 .00 682,184.00 682,184.00 22.49 27,266.24 .00 27,266.24 22.77
TOT INTERIM 1,361 1,361 .00 3,020,762.09 3,020,762.09 99.57 119,516.60 .00 119,516.60 99.82
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 1,108 1,108 .00 2,338,578.09 2,338,578.09 77.08 92,250.36 .00 92,250.36 77.05
TOTAL GRACE 253 253 .00 682,184.00 682,184.00 22.49 27,266.24 .00 27,266.24 22.77
TOTAL INTERIM 1,361 1,361 .00 3,020,762.09 3,020,762.09 99.57 119,516.60 .00 119,516.60 99.82
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
DELINQUENCY/CLAIM/STATUS REPORT
(NOTE 047 - PART2)
DATE 06/30/96
PORTFOLIO 99999
NUMB NUMB OUTSTANDING PRINCIPAL BALANCE OUTSTANDING ACCRUED INTEREST RECEIVABLE
_____________________________________________________ ________________________________________________
NOTES BORR SUBSIDIZED NON-SUB TOTAL % TOT NON-INSURED INSURED TOTAL % TOT
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
_____ _____ __________ _______ _____ _____ ___________ _______ _____ _____
REPAYMENT:
_________
ACTIVE CURRENT 4 4 .00 13,124.02 13,124.02 0.43 215.70 .00 215.70 0.18
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 4 4 .00 13,124.02 13,124.02 0.43 215.70 .00 215.70 0.18
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 4 4 .00 13,124.02 13,124.02 0.43 215.70 .00 215.70 0.18
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 4 4 .00 13,124.02 13,124.02 0.43 215.70 .00 215.70 0.18
PORT TOTAL 1,365 1,365 .00 3,033,886.11 3,033,886.11 119,732.30 .00 119,732.30
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1996 S-1
049 PORTFOLIO CHARACTERISTICS REPORT - NOTE LEVEL DATE 06/30/96 1
-----------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 1,140 1,140 8.67720 2,474,857.09 24 22 3 3 55 68
IN-GRACE 221 221 8.67322 545,905.00 2 2 59 73
IN-PAYOUT 4 4 8.80341 13,124.02 0 0
NATIONAL COLLEGIATE 1,365 1,365 8.67703 3,033,886.11 20 18 3 3 56 69
</TABLE>
99.1 Monthly Servicer Report, dated June 30, 1996, prepared by the
Pennsylvania Higher Education Assistance Agency, as servicer.
EXHIBIT 99.1
PHEAA
Creating Access to Education
1200 North Seventh Street, Harrisburg, PA 17102-1444
(717) 720-2540
Check Remittance: Wire/ACH Remittance:
P.O. Box 360058 Mellon Bank - West
Pittsburgh, PA 15251-6058 ABA # 043000261
Account # 920-8481
ATTN: VICTOR M. SAMRA,JR. INVOICE NUMBER 64547
NATIONAL COLLEGIATE TRUST-1996 S1
C/O FIRST MARBLEHEAD LP DATE 7/12/96
237 PARK AVENUE, 21ST FLOOR
NEW YORK, NY 10017-3142
CUSTOMER NUMBER 122962D
F 079-039-098- -004-400-40102-710-90500 079710-039098-102
Description Amount
1995 FULL SERVICING CONTRACTS
JUNE 1, 1996 THRU JUNE 30, 1996
LOAN SERVICING
ENDING PRINCIPAL BALANCE 3033886.11 @ (.0046/12.00) 1,162.99
SUB TOTAL: 1,162.99
PENNSYLVANIA STATE TAX (6%):
TOTAL INVOICE AMOUNT DUE: 1,162.99
FAX: 212/551-1781 OR 212/697-8486
RATE EXPIRATION:
O1/l5/96 TO 9/30/99
10/01/99 TO 9/30/04
10/01/04 TO 9/30/08
10/01/08 TO 9/30/12
PLEASE DO NOT HESITATE TO CONTACT PHEAA'S
FINANCIAL MANAGEMENT ACCOUNTS RECEIVABLE STAFF
AT 717/720-2168 OR 717/720-2086 IF YOU HAVE ANY
QUESTIONS OR CONCERNS REGARDING YOUR INVOICE.
PAYABLE UPON RECEIPT
TO INSURE PROPER CREDIT RETURN INVOICE WITH PAYMENT
2. Remittance Copy FRM:0004
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