|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: SUNBURST ACQUISITIONS I INC, 10SB12G/A, 1997-08-29 |
Next: ATLANTIC EXPRESS TRANSPORTATION CORP, 8-K, 1997-08-29 |
August 8, 1997
VIA EDGAR FILING SYSTEM
Securities and Exchange Commission
450 - 5th Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
Re: The National Collegiate Trust 1997-S1
Collateralized Student Loan Bonds, Series 1997-S1
Registration Number 33-63616
Ladies and Gentlemen:
Enclosed for filing is the Current Report on Form 8-K dated
July 31, 1997 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 1997-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): July 31, 1997
THE NATIONAL COLLEGIATE TRUST 1997-S1 (as issuer under the Indenture, dated as
of April 1, 1997, providing for the issuance of 7.45% Collateralized Student
Loan Bonds and 8.25% Collateralized Student Loan Bonds, Series 1997-S1)
The National Collegiate Trust 1997-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 July 31, 1997, 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 1997-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 31, 1997
EXHIBITS TABLE
99.1 Monthly Servicer Report, dated July 31, 1997, 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 70077
NATIONAL COLLEGIATE TRUST-1997 S1
C/O FIRST MARBLEHEAD LP DATE 08/08/97
237 PARK AVENUE, 21ST FLOOR
NEW YORK, NY 10017-3142
CUSTOMER NUMBER 122962F
F 079-039-098- -004-400-40102-710-90500 079710-039098-102
Description Amount
1997 FULL SERVICING CONTRACTS
JULY 1, 1997 THRU JULY 31, 1997
LOAN SERVICING
ENDING PRINCIPAL BALANCE 6438000.37 @ (.0046/12.00) 2,467.90
SUB TOTAL: 2,467.90
PENNSYLVANIA STATE TAX (6%):
TOTAL INVOICE AMOUNT DUE: 2,467.90
IF YOU HAVE ANY QUESTIONS REGARDING YOUR INVOICE
PLEASE CALL PHEAA'S FINANCIAL MANAGEMENT ACCOUNTS
RECEIVABLE STAFF AT 717/720-2168 OR 717/720-2806
PAYABLE UPON RECEIPT
TO INSURE PROPER CREDIT RETURN INVOICE WITH PAYMENT
2. PHEAA FRM:0006
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1997 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 07/31/97
PORTFOLIO # 99999 / STATUS = IN-SCHOOL
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NO. BORROWER GOVT. LT.CHARGES NO. BORROWER GOVT.
NOTES PRINCIPAL INTEREST INTEREST COLLECTED NOTES PRINCIPAL INTEREST INTEREST
______ ______________ _____________ _____________ __________ ______ ______________ _____________ _____________
1.BEGINNING BALANCE 2247 5,119,880.56 226,061.14 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 0 .00 .00 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 2 .00 49.58 .00 .00
B.CREDITS
1.PAYMENTS 237 15,850.96 13,194.50 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 239 15,850.96 13,144.92 .00 .00
5.NON-CASH COLLECTION
A.DEBITS
1.REVERSALS-ADV 0 .00 .00 .00 .00
2.ADJUST-ADVICE 2 .00 .06 .00 .00
3.WRITE-UPS-GEN 0 .00 .00 .00 .00
4.CAPITAL INT. 0 .00 .00 .00 .00
5.WRITE-UPS 1 3.16 .00 .00 .00
6.RESALES 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS-ADV. 0 .00 .00 .00 .00
2.ADJUST-ADVICE 96 .00 44.67 .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 1 .38 .00 .00 .00
7.CANCELLATIONS 0 .00 .00 .00 .00
C.TOTAL NON-CASH 100 2.78 44.61 .00 .00
6.TRANSFERS OUT 83 273,702.00 13,057.28 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 2164 4,830,330.38 199,814.33 .00
9.CURRENT MONTH ACCRUALS 37,696.54 .00
10.ADJS PREV PDS EARNINGS 44.61 .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 .38 .00 .00
13.ENDING BALANCE 2162 4,830,330.38 237,510.87 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1997 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 07/31/97
PORTFOLIO # 99999 / STATUS = IN-GRACE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NO. BORROWER GOVT. LT.CHARGES NO. BORROWER GOVT.
NOTES PRINCIPAL INTEREST INTEREST COLLECTED NOTES PRINCIPAL INTEREST INTEREST
______ ______________ _____________ _____________ __________ ______ ______________ _____________ _____________
1.BEGINNING BALANCE 382 1,243,742.36 59,432.40 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 74 254,702.00 12,082.87 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS 22 1,602.36 2,198.08 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 22 1,602.36 2,198.08 .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 10 .00 .10 .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 10 .00 .10 .00 .00
6.TRANSFERS OUT 5 11,324.18 513.63 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 451 1,485,517.82 68,803.46 .00
9.CURRENT MONTH ACCRUALS 11,624.50 .00
10.ADJS PREV PDS EARNINGS .10 .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 451 1,485,517.82 80,427.96 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1997 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 07/31/97
PORTFOLIO # 99999 / STATUS = PAYOUT
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NO. BORROWER GOVT. LT.CHARGES NO. BORROWER GOVT.
NOTES PRINCIPAL INTEREST INTEREST COLLECTED NOTES PRINCIPAL INTEREST INTEREST
______ ______________ _____________ _____________ __________ ______ ______________ _____________ _____________
1.BEGINNING BALANCE 22 91,196.54 1,092.94 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 14 30,324.18 1,488.04 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS 13 70.25 591.51 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 13 70.25 591.51 .00 .00
5.NON-CASH COLLECTION
A.DEBITS
1.REVERSALS-ADV 0 .00 .00 .00 .00
2.ADJUST-ADVICE 1 .00 .43 .00 .00
3.WRITE-UPS-GEN 0 .00 .00 .00 .00
4.CAPITAL INT. 6 701.70 .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 2 .00 .02 .00 .00
3.WRITE-OFFS-GE 0 .00 .00 .00 .00
4.PAYOFFS-CLAIM 0 .00 .00 .00 .00
5.CAPITAL INT. 6 .00 701.70 .00 .00
6.WRITE-OFFS 0 .00 .00 .00 .00
7.CANCELLATIONS 0 .00 .00 .00 .00
C.TOTAL NON-CASH 15 701.70 701.29 .00 .00
6.TRANSFERS OUT 0 .00 .00 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 36 122,152.17 1,288.18 .00
9.CURRENT MONTH ACCRUALS 959.18 .00
10.ADJS PREV PDS EARNINGS .41 .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 36 122,152.17 2,247.36 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1997 S-1
CASH/NON-CASH RECONCILIATION REPORT -045-
DATE 07/31/97
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PORTFOLIO # 99999 / STATUS = TOTAL
NO. BORROWER GOVT. LT.CHARGES NO. BORROWER GOVT.
NOTES PRINCIPAL INTEREST INTEREST COLLECTED NOTES PRINCIPAL INTEREST INTEREST
______ ______________ _____________ _____________ __________ ______ ______________ _____________ _____________
1.BEGINNING BALANCE 2651 6,454,819.46 286,586.48 .00
2.NEW ACQUISITIONS 0 .00 .00
3.TRANSFERS IN 88 285,026.18 13,570.91 .00
4.CASH COLLECTIONS
A.DEBITS
1.REVERSALS 2 .00 49.58 .00 .00
B.CREDITS
1.PAYMENTS 272 17,523.57 15,984.09 .00 .00
2.PAYOFFS-CLAIM 0 .00 .00 .00 .00
C.TOTAL CASH 274 17,523.57 15,934.51 .00 .00
5.NON-CASH COLLECTION
A.DEBITS
1.REVERSALS-ADV 0 .00 .00 .00 .00
2.ADJUST-ADVICE 3 .00 .49 .00 .00
3.WRITE-UPS-GEN 0 .00 .00 .00 .00
4.CAPITAL INT. 6 701.70 .00 .00 .00
5.WRITE-UPS 1 3.16 .00 .00 .00
6.RESALES 0 .00 .00 .00 .00
B.CREDITS
1.PAYMENTS-ADV. 0 .00 .00 .00 .00
2.ADJUST-ADVICE 108 .00 44.79 .00 .00
3.WRITE-OFFS-GE 0 .00 .00 .00 .00
4.PAYOFFS-CLAIM 0 .00 .00 .00 .00
5.CAPITAL INT. 6 .00 701.70 .00 .00
6.WRITE-OFFS 1 .38 .00 .00 .00
7.CANCELLATIONS 0 .00 .00 .00 .00
C.TOTAL NON-CASH 125 704.48 746.00 .00 .00
6.TRANSFERS OUT 88 285,026.18 13,570.91 .00
7.OTHER REMOVALS 0 .00 .00 .00
8.BALANCE BEFORE ACCRUALS 2651 6,438,000.37 269,905.97 .00
9.CURRENT MONTH ACCRUALS 50,280.22 .00
10.ADJS PREV PDS EARNINGS 44.30 .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 .38 .00 .00
13.ENDING BALANCE 2649 6,438,000.37 320,186.19 .00
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1997 S-1
DELINQUENCY/CLAIM/STATUS REPORT
(NOTE 047 - PART2)
DATE 07/31/97
PORTFOLIO 99999
NUMB NUMB OUTSTANDING PRINCIPAL BALANCE OUTSTANDING ACCRUED INTEREST RECEIVABLE
_____________________________________________________ ________________________________________________
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NOTES BORR SUBSIDIZED NON-SUB TOTAL % TOT INSURED NON-INSURED TOTAL % TOT
_____ _____ __________ _______ _____ _____ _______ ___________ _____ _____
INTERIM:
_______
IN-SCHOOL 2,162 1,932 .00 4,830,330.38 4,830,330.38 75.03 237,510.87 .00 237,510.87 74.18
GRACE 451 395 .00 1,485,517.82 1,485,517.82 23.07 80,427.96 .00 80,427.96 25.12
TOT INTERIM 2,613 2,327 .00 6,315,848.20 6,315,848.20 98.10 317,938.83 .00 317,938.83 99.30
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 2,162 1,932 .00 4,830,330.38 4,830,330.38 75.03 237,510.87 .00 237,510.87 74.18
TOTAL GRACE 451 395 .00 1,485,517.82 1,485,517.82 23.07 80,427.96 .00 80,427.96 25.12
TOTAL INTERIM 2,613 2,327 .00 6,315,848.20 6,315,848.20 98.10 317,938.83 .00 317,938.83 99.30
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1997 S-1
DELINQUENCY/CLAIM/STATUS REPORT
(NOTE 047 - PART2)
DATE 07/31/97
PORTFOLIO 99999
NUMB NUMB OUTSTANDING PRINCIPAL BALANCE OUTSTANDING ACCRUED INTEREST RECEIVABLE
_____________________________________________________ ________________________________________________
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NOTES BORR SUBSIDIZED NON-SUB TOTAL % TOT INSURED NON-INSURED TOTAL % TOT
_____ _____ __________ _______ _____ _____ _______ ___________ _____ _____
REPAYMENT:
_________
ACTIVE CURRENT 21 21 .00 80,446.23 80,446.23 1.25 503.66 .00 503.66 0.16
FOREBEARANCE 10 8 .00 21,555.49 21,555.49 0.33 1,131.37 .00 1,131.37 0.35
DEFERRED 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
TOT REPAYMENT 31 29 .00 102,001.72 102,001.72 1.58 1,635.03 .00 1,635.03 0.51
DELINQUENT:
30-60 DAYS 5 5 .00 20,150.45 20,150.45 0.31 612.33 .00 612.33 0.19
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 5 5 .00 20,150.45 20,150.45 0.31 612.33 .00 612.33 0.19
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 26 26 .00 100,596.68 100,596.68 1.56 1,115.99 .00 1,115.99 0.35
TOT FOREBEAR 10 8 .00 21,555.49 21,555.49 0.33 1,131.37 .00 1,131.37 0.35
TOT DEFER 0 0 .00 .00 .00 0.00 .00 .00 .00 0.00
TOT REPAYMENT 36 34 .00 122,152.17 122,152.17 1.90 2,247.36 .00 2,247.36 0.70
PORT TOTAL 2,649 2,361 .00 6,438,000.37 6,438,000.37 320,186.19 .00 320,186.19
</TABLE>
<TABLE>
THE NATIONAL COLLEGIATE TRUST 1997 S-1
049 PORTFOLIO CHARACTERISTICS REPORT - NOTE LEVEL DATE 07/31/97 6
-----------TERMS (ANTICIPATED)----------
GRADUATION GRACE FINAL PAYOUT
$ WTD TOTAL ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NO. NO. INTEREST UNPAID STND $ WTD STND $ WTD STND $ WTD
LOANS BORROWERS RATE PRINCIPAL AVE AVE AVE AVE AVE AVE
------- --------- -------- -------------- ---- ----- ---- ----- ---- -----
TOTAL NATIONAL COLLEGIATE
IN-SCHOOL 2,207 1,972 9.17550 4,972,237.24 20 19 3 3 57 75
IN-GRACE 406 355 9.21165 1,343,610.96 1 1 65 91
IN-PAYOUT 36 34 9.24386 122,152.17 0 0
NATIONAL COLLEGIATE 2,649 2,361 9.18434 6,438,000.37 17 15 3 3 57 77
</TABLE>
|
|