SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
Commission File Number: 33-63616
NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-K [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
For Period Ended: DECEMBER 31, 1997
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[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:________________________________________________
READ ATTACHED INSTRUCTION SHEET BEFORE PREPARING FORM. PLEASE PRINT OR
TYPE.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:_________________________
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PART I. REGISTRANT INFORMATION
Full name of registrant THE NATIONAL COLLEGIATE TRUST 1997-S2
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Former name if applicable
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Address of principal executive office (STREET AND NUMBER)
c/o DELAWARE TRUST CAPITAL MANAGEMENT, INC., 900 MARKET STREET
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City, State and Zip Code WILMINGTON, DELAWARE 19801
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PART II. RULE 12B-25 (B) AND (C)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check appropriate box.)
[X] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, 20-F, 11-K or Form N- SAR, or portion thereof will be filed on
or before the 15th calendar day following the prescribed due date; or the
subject quarterly report or transition report on Form 10-Q, or portion
thereof will be filed on or before the fifth calendar day following the
prescribed due date; and
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[ ] (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.
PART III. NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
10-Q, N-SAR or transition report portion thereof could not be filed within the
prescribed time period. (Attach extra sheets if needed.)
The National Collegiate Trust 1997-S2 (the "Issuer") issued its Series
1997-S1 Bonds on November 26, 1997. The Issuer engaged a new accounting firm to
produce their calendar year-end annual report. The annual report is to be filed
on Form 10-K (the "10-K") by March 31, 1998. Since the annual report is the
first such 10-K to be filed utilizing the new accountants, unanticipated delays
were encountered.
PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
LAURIS G. L. RALL (212) 912-7439
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(Name) Area code)(Telephone number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
[ ] Yes [X] No
If so: attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
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THE NATIONAL COLLEGIATE TRUST 1997-S2
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(Name of registrant as specified in charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
By: Delaware Trust Capital Management,
Inc., not in its individual capacity
but as Owner Trustee
Date MARCH 19, 1998 By:_______________________________________
Name: Richard N. Smith
Title: Vice President
