<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 report) 01-Jan-98
ClassNotes Trust 1997-I and the originators
listed below under Sale and Servicing Agreement, dated
as of February 28, 1997 providing for the issuance of
ClassNotes Trust 1997-1, Asset Backed Series 1997-1
Trans-World Insurance Company
-----------------------------
ClassNotes Inc.
- -------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
New Jersey 333-18877-01 91-181-5460
---------- ------------ -----------
Arizona
State or other (Commission (IRS Employer
jurisdiction of File Number) ID Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
-------------------------------------------------------------------------
(Address of principal executive officer)
Registrant's Telephone Number, 908-686-2000
including area code: ----------------------
n/a
-------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5 Other Events
------------
Attached herein as Annex A is a copy of the Monthly Statement sent
to Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class
A-6 Noteholders with respect to the following Distribution Dates:
A-1........................................... 05-Jan-98
12-Jan-98
20-Jan-98
26-Jan-98
A-2........................................... 28-Jan-98
A-3........................................... 07-Jan-98
A-4........................................... 15-Jan-98
A-5........................................... 14-Jan-98
A-6........................................... 21-Jan-98
Item 7 Financial Statements and Exhibits
---------------------------------
The Quarterly Report on Form 10Q for the period ended September 30,
1996 which has been filed with the Securities and Exchange
Commission by AMBAC Inc., is hereby incorporated into this Form 8-K.
<PAGE>
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.
Trans-World Insurance Co.
By: \s\ Harry Puglisi
----------------------
Name: Harry Puglisi
Title: Treasurer
Dated: January 31, 1998
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
<TABLE>
============================================================================================
<CAPTION>
CLASSNOTES TRUST 1997 - I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing Agreement
<S> <C> <C>
CLASS A-1 Determination Date 12/29/97
Cusip # 182743-AG9 Distribution Date 01/05/98
Record Date 12/31/97
============================================================================================
</TABLE>
<TABLE>
<S> <C> <C>
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-1 NOTES 100,436.39
Per $50,000 original principal amount of the Notes 63.972222
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 268,760,993.13
(v) Outstanding Principal amount after giving effect to distributions on
this Note Distribution Date:
CLASS A-1 NOTES 76,900,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-1 NOTES
PERIOD 1 5.600000%
PERIOD 2 5.750000%
PERIOD 3 5.699000%
CURRENT RATE (Based on Auction) 6.580000%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
2. NET LOAN RATE
PERIOD 1 6.590000%
PERIOD 2 6.787500%
PERIOD 3 6.824200%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 103,603.65
(vii) (a) Service Fee for related Collection Period (Pro Rata) 31,209.42
Per $50,000 original principal amount of the Notes 19.878611
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 1,018.75
Per $50,000 original principal amount of the Notes 0.648885
2. Auction Agent Fee (Pro Rata) 4,844.72
Per $50,000 original principal amount of the Notes 3.085810
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 590.58
Per $50,000 original principal amount of the Notes 0.376165
5. Surety Provider Fee (Pro Rata) 5,614.44
Per $50,000 original principal amount of the Notes 3.576079
(ix) Amount of payments to the Surety Provider in reimbursement of prior
draws under any Note Surety Bond or Certificate
Surety Bond 0.00
(x) Aggregate amount of Realized losses for the related Collection
period 0.00
(xi) Aggregate amount received with respect to Financed Student
Loans for which Realized Losses were allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 0.00
(xiii ) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
</TABLE>
<PAGE>
<TABLE>
<C> <S> <C>
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 0.00
(xv) Aggregate amount (if any) paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 2,107,715.09
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 868,920.04
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 1,287,630.11
Delinquent
(d) Number of Financed Student Loans that are more than 181 116,406.20
days Delinquent
(e) Number of Financed Student Loans for which claims have been
filed with the appropriate Guarantor and which are
awaiting payment 270,934.42
(xix) Parity Percentage Numerator 291,313,257.86
as of 11/30/97 --------------
Denominator 288,611,382.91 100.94%
(xx) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 40,955.69
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
</TABLE>
The Money Store, Inc.
By: \s\ Harry Puglisi
-----------------
Harry Puglisi
Treasurer
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
================================================================================
CLASSNOTES TRUST 1997 - I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale &
Servicing Agreement
CLASS A-1 Determination Date 01/06/98
Cusip # 182743-AG9 Distribution Date 01/12/98
Record Date 01/08/98
================================================================================
<TABLE>
<S> <C> <C>
(i) Amount of Principal being paid or distributed in respect
of the Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in respect
of the Notes
CLASS A-1 NOTES 85,978.47
Per $50,000 original principal amount of the Notes 55.902778
(iii) (A) Amount of Noteholders' Auction Rate Interest
Carryover being paid or distributed in respect of the
Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction Rate
Interest Carryover to be paid or distributed in
respect of the Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 268,760,993.13
(v) Outstanding Principal amount after giving effect to
distributions on this Note Distribution Date:
CLASS A-1 NOTES 76,900,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest
Period:
CLASS A-1 NOTES
PERIOD 1 5.750000%
PERIOD 2 5.699000%
PERIOD 3 6.580000%
CURRENT RATE (Based on Auction) 5.750000%
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
2. NET LOAN RATE
PERIOD 1 6.590000%
PERIOD 2 6.787500%
PERIOD 3 6.824200%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 102,040.75
(vii) (a) Service Fee for related Collection Period (Pro Rata) 31,209.42
Per $50,000 original principal amount of the Notes 20.292211
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 1,018.75
Per $50,000 original principal amount of the Notes 0.662386
2. Auction Agent Fee (Pro Rata) 4,844.72
Per $50,000 original principal amount of the Notes 3.150014
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 590.58
Per $50,000 original principal amount of the Notes 0.383992
5. Surety Provider Fee (Pro Rata) 5,614.44
Per $50,000 original principal amount of the Notes 3.650484
(ix) Amount of payments to the Surety Provider in reimbursement of prior
draws under any Note Surety Bond or Certificate
Surety Bond 0.00
(x) Aggregate amount of Realized losses for the related Collection
period 0.00
(xi) Aggregate amount received with respect to Financed Student
Loans for which Realized Losses were allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 0.00
(xiii) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 0.00
(xv) Aggregate amount (if any) paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 2,107,715.09
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 868,920.04
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 1,287,630.11
Delinquent
(d) Number of Financed Student Loans that are more than 181 116,406.20
days Delinquent
(e) Number of Financed Student Loans for which claims have been
filed with the appropriate Guarantor and which are
awaiting payment 270,934.42
(xix) Parity Percentage Numerator 291,313,257.86
as of 11/30/97 --------------
Denominator 288,611,382.91 100.94%
(xx) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 40,955.69
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
</TABLE>
The Money Store, Inc.
By: \s\ Harry Puglisi
--------------------
Harry Puglisi
Treasurer
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
================================================================================
CLASSNOTES TRUST 1997 - I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing
Agreement
CLASS A-1 Determination Date 01/13/98
Cusip # 182743-AG9 Distribution Date 01/20/98
Record Date 01/15/98
================================================================================
<TABLE>
<CAPTION>
<C> <S> <C>
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-1 NOTES 94,843.33
Per $50,000 original principal amount of the Notes 61.666667
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 268,760,993.13
(v) Outstanding Principal amount after giving effect to distributions on
this Note Distribution Date:
CLASS A-1 NOTES 76,900,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-1 NOTES
PERIOD 1 5.699000%
PERIOD 2 6.580000%
PERIOD 3 5.750000%
CURRENT RATE (Based on Auction) 5.550000%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
2. NET LOAN RATE
PERIOD 1 6.590000%
PERIOD 2 6.787500%
PERIOD 3 6.824200%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 116,618.00
(vii) (a) Service Fee for related Collection Period (Pro Rata) 31,209.42
Per $50,000 original principal amount of the Notes 20.292211
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 1,018.75
Per $50,000 original principal amount of the Notes 0.662386
2. Auction Agent Fee (Pro Rata) 18,260.59
Per $50,000 original principal amount of the Notes 11.872946
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 590.58
Per $50,000 original principal amount of the Notes 0.383992
5. Surety Provider Fee (Pro Rata) 5,614.44
Per $50,000 original principal amount of the Notes 3.650484
(ix) Amount of payments to the Surety Provider in reimbursement of prior
draws under any Note Surety Bond or Certificate
Surety Bond 0.00
(x) Aggregate amount of Realized losses for the related Collection
period 0.00
(xi) Aggregate amount received with respect to Financed Student
Loans for which Realized Losses were allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 0.00
(xiii ) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 0.00
(xv) Aggregate amount (if any) paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 2,107,715.09
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 868,920.04
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 1,287,630.11
Delinquent
(d) Number of Financed Student Loans that are more than 181 116,406.20
days Delinquent
(e) Number of Financed Student Loans for which claims have been
filed with the appropriate Guarantor and which are
awaiting payment 270,934.42
(xix) Parity Percentage Numerator 291,313,257.86
--------------
as of 11/30/97 Denominator 288,611,382.91 100.94%
(xx) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 40,955.69
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
</TABLE>
The Money Store, Inc.
By: \s\ Harry Puglisi
----------------------
Harry Puglisi
Treasurer
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
<TABLE>
<CAPTION>
========================================================================================================================
CLASSNOTES TRUST 1997 - I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing Agreement
<S> <C> <C>
CLASS A-1 Determination Date 01/20/98
Cusip # 182743-AG9 Distribution Date 01/26/98
Record Date 01/22/98
=======================================================================================================================
<CAPTION>
<S> <C>
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-1 NOTES 71,132.50
Per $50,000 original principal amount of the Notes 46.250000
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-1 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 268,760,993.13
(v) Outstanding Principal amount after giving effect to distributions on
this Note Distribution Date:
CLASS A-1 NOTES 76,900,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-1 NOTES
PERIOD 1 6.580000%
PERIOD 2 5.750000%
PERIOD 3 5.550000%
CURRENT RATE (Based on Auction) 5.550000%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
2. NET LOAN RATE
PERIOD 1 6.590000%
PERIOD 2 6.787500%
PERIOD 3 6.824200%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 87,463.50
(vii) (a) Service Fee for related Collection Period (Pro Rata) 31,209.42
Per $50,000 original principal amount of the Notes 20.292211
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 1,018.75
Per $50,000 original principal amount of the Notes 0.662386
2. Auction Agent Fee (Pro Rata) 18,260.59
Per $50,000 original principal amount of the Notes 11.872946
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 590.58
Per $50,000 original principal amount of the Notes 0.383992
5. Surety Provider Fee (Pro Rata) 5,614.44
Per $50,000 original principal amount of the Notes 3.650484
(ix) Amount of payments to the Surety Provider in reimbursement of prior
draws under any Note Surety Bond or Certificate Surety Bond 0.00
(x) Aggregate amount of Realized losses for the related Collection
period 0.00
(xi) Aggregate amount received with respect to Financed Student
Loans for which Realized Losses were allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 0.00
(xiii ) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
</TABLE>
<PAGE>
<TABLE>
<C> <S> <C>
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 0.00
(xv) Aggregate amount (if any) paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 2,107,715.09
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 868,920.04
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 1,287,630.11
Delinquent
(d) Number of Financed Student Loans that are more than 181 116,406.20
days Delinquent
(e) Number of Financed Student Loans for which claims have been
filed with the appropriate Guarantor and which are
awaiting payment 270,934.42
(xix) Parity Percentage Numerator 291,313,257.86
as of 11/30/97 --------------
Denominator 288,611,382.91 100.94%
(xx) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 40,955.69
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
</TABLE>
The Money Store, Inc.
By: \s\ Harry Puglisi
-------------------
Harry Puglisi
Treasurer
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
<TABLE>
<CAPTION>
================================================================================================
CLASSNOTES TRUST 1997-I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing Agreement
<S> <C> <C>
CLASS A-2 Determination Date 01/22/98
Cusip # 182743-AH7 Distribution Date 01/28/98
Record Date 01/26/98
================================================================================================
<CAPTION>
<S> <C>
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-2 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-2 NOTES 448,466.67
Per $50,000 original principal amount of the Notes 241.111111
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-2 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-2 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 518,719,120.01
(v) Outstanding Principal amount after giving effect to distributions on
this Note Distribution Date:
CLASS A-2 NOTES 93,000,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-2 NOTES
PERIOD 1 5.597000%
PERIOD 2 5.620000%
PERIOD 3 5.690000%
CURRENT RATE (Based on Auction) 6.200000%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
2. NET LOAN RATE
MONTH 1 6.590000%
MONTH 2 6.787500%
MONTH 3 6.824200%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 493,617.13
(vii) (a) Service Fee for related Collection Period (Pro Rata) 36,442.93
Per $50,000 original principal amount of the Notes 19.592973
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 1,162.50
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 21,422.29
Per $50,000 original principal amount of the Notes 11.517361
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 343.22
Per $50,000 original principal amount of the Notes 0.184529
5. Surety Provider Fee (Pro Rata) 6,406.67
Per $50,000 original principal amount of the Notes 3.444444
(ix) Amount of payments to the Surety Provider in reimbursement of prior
draws under any Note Surety Bond or the Certificate Surety Bond 0.00
(x) Aggregate amount of Realized losses for the related Collection period 0.00
(xi) Aggregate amount received with respect to Financed Student Loans for
which Realized Losses were allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 0.00
(xiii) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
</TABLE>
<PAGE>
<TABLE>
<C> <S> <C>
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 13,629,220.11
(xv) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 5,020,940.92
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 1,557,312.92
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 1,472,987.63
Delinquent
(d) Number of Financed Student Loans that are more than 181 251,560.58
days Delinquent
(e) Number of Financed Student Loans for which claims have been
filed with the appropriate Guarantor and which are
awaiting payment 241,303.36
(xix) Parity Percentage Numerator 566,176,476.57
--------------
as of 12/31/97 Denominator 565,384,939.16 100.14%
(xx) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 42,856.71
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
</TABLE>
The Money Store, Inc.
By: /s/ Harry Puglisi
------------------
Harry Puglisi
Treasurer
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
<TABLE>
<CAPTION>
============================================================================================
CLASSNOTES TRUST 1997-I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing Agreement
<S> <C> <C>
CLASS A-3 Determination Date 12/31/97
Cusip# 182743-AJ3 Distribution Date 01/07/98
Record Date 01/05/98
============================================================================================
<CAPTION>
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-3 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-3 NOTES 439,047.78
Per $50,000 original principal amount of the Notes 231.077778
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-3 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-3 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 518,719,120.01
(v) Outstanding Principal amount after giving effect to distributions
on this Note Distribution Date:
CLASS A-3 NOTES 95,000,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-3 NOTES
PERIOD 1 5.630000%
PERIOD 2 5.597000%
PERIOD 3 5.700000%
CURRENT RATE (Based on Auction) 5.942000%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
2. NET LOAN RATE
MONTH 1 6.590000%
MONTH 2 6.787500%
MONTH 3 6.824200%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 502,198.76
(vii) (a) Service Fee for related Collection Period (Pro Rata) 37,226.65
Per $50,000 original principal amount of the Notes 19.592974
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 1,187.50
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 21,882.99
Per $50,000 original principal amount of the Notes 11.517361
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 350.61
Per $50,000 original principal amount of the Notes 0.184529
5. Surety Provider Fee (Pro Rata) 6,544.44
Per $50,000 original principal amount of the Notes 3.444444
(ix) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0.00
(x) Aggregate amount of Realized losses for the
related Collection period 0.00
(xi) Aggregate amount received with respect to Financed
Student Loans for which Realized Losses were
allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 0.00
(xiii) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 13,629,220.11
(xv) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 5,020,940.92
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 1,557,312.92
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 1,472,987.63
Delinquent
(d) Number of Financed Student Loans that are more than 181 251,560.58
days Delinquent
(e) Number of Financed Student Loans for which claims have been
filed with the appropriate Guarantor and which are
awaiting payment 241,303.36
(xix) Parity Percentage Numerator 566,176,476.57
as of 12/31/97 --------------
Denominator 565,384,939.16 100.14%
(xx) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 42,856.71
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
</TABLE>
The Money Store, Inc.
By: /s/ Harry Puglisi
----------------------
Harry Puglisi
Treasurer
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
<TABLE>
<CAPTION>
=============================================================================================
CLASSNOTES TRUST 1997-I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing Agreement
<S> <C> <C>
CLASS A-4 Determination Date 01/09/98
Cusip # 182743-AL8 Distribution Date 01/15/98
Record Date 01/13/98
=============================================================================================
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-4 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-4 NOTES 560,212.58
Per $50,000 original principal amount of the Notes 186.737528
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-4 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-4 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 268,760,993.13
(v) Outstanding Principal amount after giving effect to distributions on
this Note Distribution Date:
CLASS A-4 NOTES 150,000,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-4 NOTES
PERIOD 1 0.00000%
PERIOD 2 0.00000%
PERIOD 3 0.00000%
CURRENT RATE (LIBOR) 6.11141%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
2. NET LOAN RATE
PERIOD 1 6.5900%
PERIOD 2 6.7875%
PERIOD 3 6.8242%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 624,481.25
(vii) (a) Service Fee for related Collection Period (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Auction Agent Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
5. Surety Provider Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ix) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0.00
(x) Aggregate amount of Realized losses for the
related Collection period 0.00
(xi) Aggregate amount received with respect to Financed Student Loans for
which Realized Losses were
allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 0.00
(xiii) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 0.00
(xv) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0.00
(b) CLASS A-1 NOTES (Only if Class ___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 2,107,715.09
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 868,920.04
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 1,287,630.11
Delinquent
(d) Number of Financed Student Loans that are more than 181 116,406.20
days Delinquent
(e) Number of Financed Student Loans for which claims have been
filed with the appropriate Guarantor and which are
awaiting payment 270,934.42
(xix) Parity Percentage Numerator 291,313,257.86
as of 11/30/97 --------------
Denominator 288,611,382.91 100.94%
(xx) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 40,955.69
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
</TABLE>
The Money Store, Inc.
By: \s\ Harry Puglisi
- ----------------------
Harry Puglisi
Treasurer
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
================================================================================
CLASSNOTES TRUST 1997-I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale &
Servicing Agreement
CLASS A-5 Determination Date 01/08/98
Cusip # 182743-AM6 Distribution Date 01/14/98
Record Date 01/12/98
================================================================================
<TABLE>
<CAPTION>
<S> <C> <C>
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-5 NOTES 199,908.33
Per $50,000 original principal amount of the Notes 173.833333
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-5 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 268,760,993.13
(v) Outstanding Principal amount after giving effect to distributions on
this Note Distribution Date:
CLASS A-5 NOTES 57,500,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-5 NOTES
PERIOD 1 0.000000%
PERIOD 2 0.000000%
PERIOD 3 0.000000%
CURRENT RATE (Based on Auction) 5.960000%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
2. NET LOAN RATE
PERIOD 1 6.590000%
PERIOD 2 6.787500%
PERIOD 3 6.824200%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 228,484.72
(vii) (a) Service Fee for related Collection Period (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Auction Agent Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
5. Surety Provider Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ix) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0.00
(x) Aggregate amount of Realized losses for the
related Collection period 0.00
(xi) Aggregate amount received with respect to Financed
Student Loans for which Realized Losses were
allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 0.00
(xiii) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 0.00
(xv) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 2,107,715.09
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 868,920.04
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 1,287,630.11
Delinquent
(d) Number of Financed Student Loans that are more than 181 116,406.20
days Delinquent
(e) Number of Financed Student Loans for which claims have been
filed with the appropriate Guarantor and which are
awaiting payment 270,934.42
(xix) Parity Percentage Numerator 291,313,257.86
as of 11/30/97 --------------
Denominator 288,611,382.91 100.94%
(xx) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 40,955.69
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
</TABLE>
The Money Store, Inc.
By: /s/ Harry Puglisi
Harry Puglisi
Treasurer
<PAGE>
TRANS-WORLD INSURANCE COMPANY
2840 MORRIS AVENUE
UNION, NJ 07083
<TABLE>
=================================================================================================
CLASSNOTES TRUST 1997 - I
Noteholders' Statement Pursuant to Section 5.7 (a) of the Sale & Servicing Agreement
<S> <C> <C> <C>
CLASS A-6 Determination Date 01/14/98
Cusip # 182743-AN4 Distribution Date 01/21/98
Record Date 01/16/98
=================================================================================================
</TABLE>
<TABLE>
<C> <S> <C>
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-6 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-6 NOTES 266,544.44
Per $50,000 original principal amount of the Notes 231.777778
(iii) (A) Amount of Noteholders' Auction Rate
Interest Carryover being paid or distributed
in respect of the Notes
CLASS A-6 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(B) Remaining Amount of Noteholders' Auction
Rate Interest Carryover to be paid or distributed
in respect of the Notes
CLASS A-6 NOTES 0.00
Per $50,000 original principal amount of the Notes 0.000000
(iv) Pool Balance at end of preceding Collection Period 268,760,993.13
(v) Outstanding Principal amount after giving effect to
distributions on this Note Distribution Date:
CLASS A-6 NOTES 57,500,000.00
(vi) Applicable Interest Rate:
(a) In general:
1. Auction Rate for the prior Interest Period:
CLASS A-6 NOTES
PERIOD 1 0.000000%
PERIOD 2 0.000000%
PERIOD 3 0.000000%
CURRENT RATE (Based on Auction) 5.960000%
</TABLE>
<PAGE>
<TABLE>
<S> <C>
2. NET LOAN RATE
PERIOD 1 6.590000%
PERIOD 2 6.787500%
PERIOD 3 6.824200%
(b) Amount of Interest that would have been paid
on such Note Distribution Date if Interest was
calculated instead based on the Net Loan Rate 304,783.06
(vii) (a) Service Fee for related Collection Period (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
(b) Service Fee Carryover for related Collection Period
1. Distributed 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Remaining Balance 0.00
Per $50,000 original principal amount of the Notes 0.000000
(viii) Amount of Fees for related Collection Period:
1. Administration Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
2. Auction Agent Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
3. Indenture Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
4. Eligible Lender Trustee Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
5. Surety Provider Fee (Pro Rata) 0.00
Per $50,000 original principal amount of the Notes 0.000000
(ix) Amount of payments to the Surety Provider in
reimbursement of prior draws under any Note
Surety Bond or the Certificate Surety Bond 0.00
(x) Aggregate amount of Realized losses for the
related Collection period 0.00
(xi) Aggregate amount received with respect to Financed Student
Loans for which Realized Losses were allocated previously 0.00
(xii) (a) Amount of the distribution attributable to amounts
in the Reserve Account 0.00
(b) Amount of any other withdrawals from the Reserve
Account for such Distribution Date 0.00
(c) Amount in the Reserve Account 0.00
(xiii) Amount of any draw required to be made under a Note Surety
bond (together with any other information required to make
such draw) 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
(xiv) (a) Portion (if any) of the distribution attributable to amounts on
deposit in the Pre-Funding Account 0.00
(b) Amount in the Pre-Funding Account 0.00
(xv) Aggregate amount if any paid by the Eligible Lender Trustee for
Additional Financed Student Loans during the preceding collection
period 0.00
(xvi) Amount in the Pre-Funding Account at the end of the Funding Period to
be distributed as a payment of principal in respect of:
(a) CLASS A-1 NOTES 0.00
(b) CLASS A-1 NOTES (Only if Class___ Notes
have been paid in full) 0.00
(xvii) Aggregate amount (if any) paid for Financed Student Loans during
the preceding collection period. 0.00
(xviii) As of the end of the preceding Collection Period:
(a) Number of Financed Student Loans that are 30 to 60 days 2,107,715.09
Delinquent
(b) Number of Financed Student Loans that are 61 to 90 days 868,920.04
Delinquent
(c) Number of Financed Student Loans that are 91 to 180 days 1,287,630.11
Delinquent
(d) Number of Financed Student Loans that are more than 181 116,406.20
days Delinquent
(e) Number of Financed Student Loans for which claims have been
filed with the appropriate Guarantor and which are
awaiting payment 270,934.42
(xix) Parity Percentage Numerator 291,313,257.86
as of 11/30/97 --------------
Denominator 288,611,382.91 100.94%
(xx) Excess of amounts deposited into the Collection Account with respect
to the sale by the Trust of Serial Loans over the aggregate Purchase
amount of such loans (such excess to be distributed to
Student Holdings) 40,955.69
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
</TABLE>
The Money Store, Inc.
By: \s\ Harry Puglisi
- ----------------------
Harry Puglisi
Treasurer
