<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) 02-Mar-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
----------
Arizona 333-18877-01 91-181-5460
------- ------------ -----------
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)
Regristrant'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............................................................... 02-Mar-98
09-Mar-98
16-Mar-98
23-Mar-98
30-Mar-98
A-2............................................................... 25-Mar-98
A-3............................................................... 04-Mar-98
A-4............................................................... 16-Mar-98
A-5............................................................... 11-Mar-98
A-6............................................................... 18-Mar-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: 03/31/98
<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 03/10/98
Cusip # 182743-AG9 Distribution Date 03/16/98
Record Date 03/12/98
================================================================================
(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 82,987.92
Per $50,000 original principal amount of the Notes 53.958333
(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 527,362,515.34
(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 5.585000%
PERIOD 2 5.580000%
PERIOD 3 5.630000%
CURRENT RATE (Based on Auction) 5.550000%
<PAGE>
2. NET LOAN RATE
PERIOD 1 6.824200%
PERIOD 2 6.668750%
PERIOD 3 6.740000%
(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 100,781.72
(vii) (a) Service Fee for related Collection Period (Pro Rata) 31,221.19
Per $50,000 original principal amount of the Notes 20.299863
(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) 961.25
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 15,999.47
Per $50,000 original principal amount of the Notes 10.402778
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) 284.61
Per $50,000 original principal amount of the Notes 0.185054
5. Surety Provider Fee (Pro Rata) 4,771.11
Per $50,000 original principal amount of the Notes 3.102153
(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
<PAGE>
(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 102,095.54
(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 6,956,975.01
60 days Delinquent
(b) Number of Financed Student Loans that are 61 to 2,671,625.14
90 days Delinquent
(c) Number of Financed Student Loans that are 91 to 180 1,891,929.05
days Delinquent
(d) Number of Financed Student Loans that are more than 479,796.19
181 days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 299,085.04
(xix) Parity Percentage Numerator 563,379,098.55
--------------
as of 01/31/98 Denominator 564,495,877.13 99.80%
(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) 45,042.06
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
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 02/24/98
Cusip # 182743-AG9 Distribution Date 03/02/98
Record Date 02/26/98
================================================================================
(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 83,436.50
Per $50,000 original principal amount of the Notes 54.250000
(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 527,362,515.34
(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 5.590000%
PERIOD 2 5.575000%
PERIOD 3 5.585000%
CURRENT RATE (Based on Auction) 5.580000%
<PAGE>
2. NET LOAN RATE
PERIOD 1 6.787500%
PERIOD 2 6.824200%
PERIOD 3 6.668750%
(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 99,717.08
(vii) (a) Service Fee for related Collection Period (Pro Rata 31,335.31
Per $50,000 original principal amount of the Notes 20.374064
(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) 961.25
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 15,999.47
Per $50,000 original principal amount of the Notes 10.402778
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) 285.6
Per $50,000 original principal amount of the Notes 0.185730
5. Surety Provider Fee (Pro Rata) 5,350.89
Per $50,000 original principal amount of the Notes 3.479122
(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
<PAGE>
(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 70,656.28
(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 6,956,975.01
days Delinquent
(b) Number of Financed Student Loans that are 61 to 90 2,671,625.14
days Delinquent
(c) Number of Financed Student Loans that are 91 to 180 1,891,929.05
days Delinquent
(d) Number of Financed Student Loans that are more than 479,796.19
181 days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 299,085.04
(xix) Parity Percentage Numerator 563,379,098.55
--------------
as of 01/31/98 Denominator 564,495,877.13 99.80%
(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) 45,042.06
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
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 03/03/98
Cusip # 182743-AG9 Distribution Date 03/09/98
Record Date 03/05/98
================================================================================
(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 84,184.14
Per $50,000 original principal amount of the Notes 54.736111
(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 527,362,515.34
(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 5.575000%
PERIOD 2 5.585000%
PERIOD 3 5.580000%
CURRENT RATE (Based on Auction) 5.630000%
<PAGE>
2. NET LOAN RATE
PERIOD 1 6.824200%
PERIOD 2 6.668750%
PERIOD 3 6.740000%
(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 100,781.72
(vii) (a) Service Fee for related Collection Period (Pro Rata) 31,221.19
Per $50,000 original principal amount of the Notes 20.299863
(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) 961.25
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 15,999.47
Per $50,000 original principal amount of the Notes 10.402778
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) 284.61
Per $50,000 original principal amount of the Notes 0.185054
5. Surety Provider Fee (Pro Rata) 4,771.11
Per $50,000 original principal amount of the Notes 3.102153
(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
<PAGE>
(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 102,095.54
(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 6,956,975.01
days Delinquent
(b) Number of Financed Student Loans that are 61 to 90 2,671,625.14
days Delinquent
(c) Number of Financed Student Loans that are 91 to 180 1,891,929.05
days Delinquent
(d) Number of Financed Student Loans that are more than 479,796.19
181 days Delinquent
(e) Number of Financed Student Loans for which claims
have been filed with the appropriate Guarantor and
which are awaiting payment 299,085.04
(xix) Parity Percentage Numerator 563,379,098.55
as of 01/31/98 --------------
Denominator 564,495,877.13 99.80%
(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) 45,042.06
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
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 03/17/98
Cusip # 182743-AG9 Distribution Date 03/23/98
Record Date 03/19/98
================================================================================
(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 84,184.14
Per $50,000 original principal amount of the Notes 54.736111
(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 523,381,127.52
(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 5.580000%
PERIOD 2 5.630000%
PERIOD 3 5.550000%
CURRENT RATE (Based on Auction) 5.630000%
<PAGE>
2. NET LOAN RATE
PERIOD 1 6.824200%
PERIOD 2 6.668750%
PERIOD 3 6.740000%
(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 100,781.72
(vii) (a) Service Fee for related Collection Period (Pro Rata) 31,707.63
Per $50,000 original principal amount of the Notes 20.616144
(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) 961.25
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 17,713.70
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) 285.65
Per $50,000 original principal amount of the Notes 0.185730
5. Surety Provider Fee (Pro Rata) 5,297.56
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 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
<PAGE>
(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 4,959,446.92
to 60 days Delinquent
(b) Number of Financed Student Loans that are 61 to 3,991,653.80
90 days Delinquent
(c) Number of Financed Student Loans that are 91 to 2,842,288.72
180 days Delinquent
(d) Number of Financed Student Loans that are more 379,030.49
than 181 days Delinquent
(e) Number of Financed Student Loans for which claims 433,753.86
have been filed with the appropriate Guarantor and
which are awaiting payment
(xix) Parity Percentage Numerator 563,711,193.35
as of 02/28/98 --------------
Denominator 562,598,988.98 100.20%
(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) 45,042.06
(xxi) Amount of Additional Principal Payments, if any, made
on such Distribution Date 0.00
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 03/24/98
Cusip # 182743-AG9 Distribution Date 03/30/98
Record Date 03/26/98
================================================================================
(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 83,735.56
Per $50,000 original principal amount of the Notes 54.444444
(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 523,381,127.52
(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 5.630000%
PERIOD 2 5.550000%
PERIOD 3 5.630000%
CURRENT RATE (Based on Auction) 5.600000%
<PAGE>
2. NET LOAN RATE
PERIOD 1 6.824200%
PERIOD 2 6.668750%
PERIOD 3 6.740000%
(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 100,781.72
(vii) (a) Service Fee for related Collection Period (Pro Rata) 31,707.63
Per $50,000 original principal amount of the Notes 20.616144
(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) 961.25
Per $50,000 original principal amount of the Notes 0.625000
2. Auction Agent Fee (Pro Rata) 17,713.70
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) 285.65
Per $50,000 original principal amount of the Notes 0.185730
5. Surety Provider Fee (Pro Rata) 5,297.56
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 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
<PAGE>
(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 4,959,446.92
days Delinquent
(b) Number of Financed Student Loans that are 61 to 90 3,991,653.80
days Delinquent
(c) Number of Financed Student Loans that are 91 to 180 2,842,288.72
days Delinquent
(d) Number of Financed Student Loans that are more than 379,030.49
181 days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 433,753.86
(xix) Parity Percentage Numerator 563,711,193.35
as of 02/28/98 --------------
Denominator 562,598,988.98 100.20%
(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) 45,042.06
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
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-2 Determination Date 03/19/98
Cusip # 182743-AH7 Distribution Date 03/25/98
Record Date 03/23/98
================================================================================
(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 406,875.00
Per $50,000 original principal amount of the Notes 218.750000
(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 523,381,127.52
(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 5.690000%
PERIOD 2 6.200000%
PERIOD 3 5.599000%
CURRENT RATE (Based on Auction) 5.625000%
<PAGE>
2. NET LOAN RATE
MONTH 1 6.824200%
MONTH 2 6.668750%
MONTH 3 6.740000%
(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 486,974.87
(vii) (a) Service Fee for related Collection Period (Pro Rata) 38,346.02
Per $50,000 original principal amount of the Notes 20.616140
(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) 345.46
Per $50,000 original principal amount of the Notes 0.185730
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
<PAGE>
(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 4,959,446.92
30 to 60 days Delinquent
(b) Number of Financed Student Loans that are 3,991,653.80
61 to 90 days Delinquent
(c) Number of Financed Student Loans that are 2,842,288.72
91 to 180 days Delinquent
(d) Number of Financed Student Loans that are 379,030.49
more than 181 days Delinquent
(e) Number of Financed Student Loans for which claims
have been filed with the appropriate Guarantor and
which are awaiting payment 433,753.86
(xix) Parity Percentage Numerator 563,711,193.35
as of 02/28/98 --------------
Denominator 562,598,988.98 100.20%
(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) 45,042.06
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
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-3 Determination Date 02/26/98
Cusip # 182743-AJ3 Distribution Date 03/04/98
Record Date 03/02/98
================================================================================
(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 412,300.00
Per $50,000 original principal amount of the Notes 217.000000
(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 527,362,515.34
(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 5.700000%
PERIOD 2 5.942000%
PERIOD 3 5.610000%
CURRENT RATE (Based on Auction) 5.580000%
<PAGE>
2. NET LOAN RATE
MONTH 1 6.824200%
MONTH 2 6.668750%
MONTH 3 6.740000%
(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 493,501.78
(vii) (a) Service Fee for related Collection Period (Pro Rata) 38,569.75
Per $50,000 original principal amount of the Notes 20.299868
(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) 19,765.28
Per $50,000 original principal amount of the Notes 10.402778
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) 351.60
Per $50,000 original principal amount of the Notes 0.185054
5. Surety Provider Fee (Pro Rata) 5,911.11
Per $50,000 original principal amount of the Notes 3.111111
(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
<PAGE>
(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 102,095.54
(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 6,956,975.01
days Delinquent
(b) Number of Financed Student Loans that are 61 to 90 2,671,625.14
days Delinquent
(c) Number of Financed Student Loans that are 91 to 1,891,929.05
180 days Delinquent
(d) Number of Financed Student Loans that are more than 479,796.19
181 days Delinquent
(e) Number of Financed Student Loans for which claims have
been filed with the appropriate Guarantor and which are
awaiting payment 299,085.04
(xix) Parity Percentage Numerator 563,379,098.55
as of 01/31/98 --------------
Denominator 564,495,877.13 99.80%
(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) 45,042.06
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
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-4 Determination Date 03/10/98
Cusip # 182743-AL8 Distribution Date 03/16/98
Record Date 03/12/98
================================================================================
(i) Amount of Principal being paid or distributed in
respect of the Notes
CLASS A-4 NOTES 3,736,000.00
Per $50,000 original principal amount of the Notes 1,262.588712
(ii) Amount of Interest being paid or distributed in
respect of the Notes
CLASS A-4 NOTES 643,027.69
Per $50,000 original principal amount of the Notes 217.312500
(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 527,362,515.34
(v) Outstanding Principal amount after giving effect to
distributions on this Note Distribution Date:
CLASS A-4 NOTES 144,214,000.00
(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 6.11141%
PERIOD 3 5.77938%
CURRENT RATE (LIBOR) 5.79500%
<PAGE>
2. NET LOAN RATE
PERIOD 1 6.8242%
PERIOD 2 6.6688%
PERIOD 3 6.7400%
(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 744,668.52
(vii) (a) Service Fee for related Collection Period (Pro Rata) 60,899.60
Per $50,000 original principal amount of the Notes 20.581142
(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) 555.16
Per $50,000 original principal amount of the Notes 0.187618
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
<PAGE>
(xiv) (a) Portion (if any) of the distribution attributable
to amounts on deposit in the Pre-Funding Account 102,000.00
(b) Amount in the Pre-Funding Account 102,095.54
(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-4 NOTES 102,000.00
(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 6,956,975.01
30 to 60 days Delinquent
(b) Number of Financed Student Loans that are 2,671,625.14
61 to 90 days Delinquent
(c) Number of Financed Student Loans that are 1,891,929.05
91 to 180 days Delinquent
(d) Number of Financed Student Loans that are 479,796.19
more than 181 days Delinquent
(e) Number of Financed Student Loans for which claims
have been filed with the appropriate Guarantor and
which are awaiting payment 299,085.04
(xix) Parity Percentage Numerator 563,379,098.55
--------------
as of 01/31/98 Denominator 564,495,877.13 99.80%
(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) 45,042.06
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 102,000.00
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 03/05/98
Cusip # 182743-AM6 Distribution Date 03/11/98
Record Date 03/09/98
================================================================================
(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 250,220.83
Per $50,000 original principal amount of the Notes 217.583333
(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 527,362,515.34
(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 5.960000%
PERIOD 3 5.550000%
CURRENT RATE (Based on Auction) 5.595000%
<PAGE>
2. NET LOAN RATE
PERIOD 1 6.824200%
PERIOD 2 6.668750%
PERIOD 3 6.740000%
(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 299,494.50
(vii) (a) Service Fee for related Collection Period (Pro Rata) 23,344.85
Per $50,000 original principal amount of the Notes 20.299870
(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) 718.75
Per $50,000 original principal amount of the Notes 0.625000
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) 212.81
Per $50,000 original principal amount of the Notes 0.185054
5. Surety Provider Fee (Pro Rata) 3,577.78
Per $50,000 original principal amount of the Notes 3.111111
(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
<PAGE>
(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 102,095.54
(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 6,956,975.01
days Delinquent
(b) Number of Financed Student Loans that are 61 to 90 2,671,625.14
days Delinquent
(c) Number of Financed Student Loans that are 91 to 180 1,891,929.05
days Delinquent
(d) Number of Financed Student Loans that are more than 479,796.19
181 days Delinquent
(e) Number of Financed Student Loans for which claims
have been filed with the appropriate Guarantor and
which are awaiting payment 299,085.04
(xix) Parity Percentage Numerator 563,379,098.55
as of 01/31/98 --------------
Denominator 564,495,877.13 99.80%
(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) 45,042.06
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
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-6 Determination Date 03/12/98
Cusip # 182743-AN4 Distribution Date 03/18/98
Record Date 03/13/98
================================================================================
(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 250,444.44
Per $50,000 original principal amount of the Notes 217.777778
(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 527,362,515.34
(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 5.960000%
PERIOD 3 5.630000%
CURRENT RATE (Based on Auction) 5.600000%
<PAGE>
2. NET LOAN RATE
PERIOD 1 6.824200%
PERIOD 2 6.668750%
PERIOD 3 6.740000%
(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 300,290.56
(vii) (a) Service Fee for related Collection Period (Pro Rata) 23,344.85
Per $50,000 original principal amount of the Notes 20.299870
(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) 359.38
Per $50,000 original principal amount of the Notes 0.312500
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) 212.81
Per $50,000 original principal amount of the Notes 0.185054
5. Surety Provider Fee (Pro Rata) 3,577.78
Per $50,000 original principal amount of the Notes 3.111111
(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
<PAGE>
(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 102,095.54
(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 6,956,975.01
30 to 60 days Delinquent
(b) Number of Financed Student Loans that are 2,671,625.14
61 to 90 days Delinquent
(c) Number of Financed Student Loans that are 91 to 180
days Delinquent 1,891,929.05
(d) Number of Financed Student Loans that are more than
181 days Delinquent 479,796.19
(e) Number of Financed Student Loans for which claims
have been filed with the appropriate Guarantor and
which are awaiting payment 299,085.04
(xix) Parity Percentage Numerator 563,379,098.55
as of 01/31/98 --------------
Denominator 564,495,877.13 99.80%
(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) 45,042.06
(xxi) Amount of Additional Principal Payments, if any, made on
such Distribution Date 0.00
The Money Store, Inc.
By: /s/ Harry Puglisi
- ----------------------
Harry Puglisi
Treasurer
