SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) September 30, 1999
Key Bank USA, National Association (as Seller) under a Sale and Servicing
Agreement dated as of September 1, 1999 in connection with the
issuance of KeyCorp Student Loan Trust 1999-B Asset Backed Notes
and Asset Backed Certificates.
Key Bank USA, National Association
(Exact name of Registrant as specified in its charter)
United States 333-80109 34-1804148
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) ID Number)
Key Tower, 127 Public Square, Cleveland, Ohio 44114
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number,
including area code: (216) 689-6300
N/A
(Former name or former address, if changed since last report)
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Item 5. Other Event
The balance sheet of KeyCorp Student Loan Trust 1999-B (the "Trust") as audited
by Ernst & Young LLP, independent certified public accountants, as set forth in
their report attached to the Prospectus Supplement of the Registrant dated
September 30, 1999 (the "Prospectus"), is hereby incorporated by reference in:
(i) this Current Report on Form 8-K, and (ii) the registration statement (No.
333-80109) of the Registrant (the "Registration Statement") and shall be deemed
to be a part hereof and thereof.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
EXHIBIT NO. DESCRIPTION OF EXHIBIT
23.1 The Consent of Ernst & Young LLP, independent certified
public accountants, with respect to (a) the inclusion in the
Prospectus of their report dated September 28, 1999 on the
balance sheet of the Trust (the "Report"), (b) the
incorporation by reference of the Report in the Registration
Statement, and (c) the reference to their firm under the
caption "Experts" in the Prospectus.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
KEY BANK USA, NATIONAL ASSOCIATION
By: /s/ Darlene Dimitrijevs
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Name: Darlene Dimitrijevs
Title: Senior Vice President
Dated: September 30, 1999
EXHIBIT 23.1
CONSENT OF INDEPENDENT AUDITORS
We consent to the reference to our firm under the caption "Experts" and to the
use of our report dated September 28, 1999, with respect to the balance sheet of
KeyCorp Student Loan Trust 1999-B in the KeyCorp Student Loan Trust 1999-B
Prospectus Supplement and to the incorporation by reference of our report in the
Registration Statement (Form S- 3, No. 333-80109) and related Prospectus of
KeyCorp Student Loan Trusts dated August 17, 1999.
/s/ Ernst & Young LLP
Cleveland, Ohio
September 28, 1999
