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<PAGE> 1
Exhibit 99.1
Noteholders' Statement for Student Loan Funding 1999 - A/B Trust
Student Loan Senior & Subordinate Asset Backed Notes
for Collection Period Ending: May 31, 2000
<TABLE>
<CAPTION>
<S> <C> <C> <C>
CUSIP
Senior Series 1999 A-1 86387AAA7
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Senior Series 1999 A-2 86387AAB5
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Senior Series 1999 A-3 86387AAC3
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Senior Series 1999 A-4 86387AAD1
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Senior Series 1999 A-5 86387AAE9
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Senior Series 1999 A-6 86387AAF6
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Subordinate Series 1999 B-1 86387AAG4
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DISTRIBUTION DATE July 1, 2000
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(a) Amount of principal being paid or distributed:
(i) 1999 A-1 Notes: $0.00
(ii) 1999 A-2 Notes: $0.00
(iii) 1999 A-3 Notes: $0.00
(iv) 1999 A-4 Notes: $0.00
(v) 1999 A-5 Notes: $0.00
(vi) 1999 A-6 Notes: $0.00
(vii) 1999 B-1 Notes: $0.00
(b) Amount of interest being paid or distributed based upon the Formula Rate:
(i) 1999 A-1 Notes on 7/5/00: 7 day auction $97,708.33
(ii) 1999 A-2 Notes on 7/7/00: 7 day auction $97,708.33
(iii) 1999 A-3 Notes on 7/7/00: $401,770.83
(iv) 1999 A-4 Notes on 7/25/00: $509,444.44
(v) 1999 A-5 Notes on 7/5/00: $386,166.67
(vi) 1999 A-6 Notes on 7/7/00: $490,622.22
(vii) 1999 B-1 Notes on 7/5/00: $161,916.67
Formula Interest Rates
(i) 1999 A-1 Notes: 6.700%
(ii) 1999 A-2 Notes: 6.700%
(iii) 1999 A-3 Notes: 6.650%
(iv) 1999 A-4 Notes: 6.550%
(v) 1999 A-5 Notes: 6.620%
(vi) 1999 A-6 Notes: 6.640%
(vii) 1999 B-1 Notes: 6.700%
</TABLE>
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<PAGE> 2
<TABLE>
<CAPTION>
<S> <C> <C> <C>
(c) Interest Rates if they were based upon the Net Loan Rate
(i) 1999 A-1 Notes: 8.110%
(ii) 1999 A-2 Notes: 8.110%
(iii) 1999 A-3 Notes: 8.110%
(iv) 1999 A-4 Notes: 8.110%
(v) 1999 A-5 Notes: 8.110%
(vi) 1999 A-6 Notes: 8.110%
(vii) 1999 B-1 Notes: 8.110%
(d) Amount of distribution allocable to any Noteholders' Interest Carryover:
(i) 1999 A-1 Notes: $0.00
(ii) 1999 A-2 Notes: $0.00
(iii) 1999 A-3 Notes: $0.00
(iv) 1999 A-4 Notes: $0.00
(v) 1999 A-5 Notes: $0.00
(vi) 1999 A-6 Notes: $0.00
(vii) 1999 B-1 Notes: $0.00
(e) Pool Balance on April 30, 2000: $487,304,141.00
Pool Balance on May 31, 2000: $487,422,509.00
(i) Parity Percentage 97.38%
(ii) Senior Parity Percentage 103.21%
(f) After giving effect to distributions on this Distribution Date:
(i) 1999 A-1 Notes: $75,000,000.00
(ii) 1999 A-2 Notes: $75,000,000.00
(iii) 1999 A-3 Notes: $75,000,000.00
(iv) 1999 A-4 Notes: $100,000,000.00
(v) 1999 A-5 Notes: $75,000,000.00
(vi) 1999 A-6 Notes: $95,000,000.00
(vii) 1999 B-1 Notes: $30,000,000.00
Total Series A Notes outstanding: $495,000,000.00
Total Notes outstanding: $525,000,000.00
(g) Amount of Program Operating Expenses
to be allocated for the upcoming Distribution Date: $199,940.00
(h) (i) Aggregate amount of Realized Losses (if any) for the Collection Period
immediately preceding the Distribution Date: ($348.00)
(ii) Amount received for recoveries of Realized Losses
from a previous Collection Period
(a) interest $0.00
(b) principal $0.00
</TABLE>
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<PAGE> 3
<TABLE>
<S> <C> <C>
(i) (i) Amount of distribution attributable to the Reserve Fund: $0.00
(ii) Amount of distribution attributable to the Acquisition Fund: $0.00
(iii) Amount of distribution attributable to other Indenture accounts: $483,875.00
(iv) Reserve Fund Balance: $4,038,753.50
(v) Acquisition Fund Balance: $181,472.19
(vi) Other Indenture Account Balances: $31,437,102.27
(vii) Amount of Parity Percentage Payments: $0.00
(j) The aggregate amount paid for Financed Student Loans
purchased by the trust during the immediately preceding
Collection Period: $0.00
(k) Amount of Financed Student Loans:
(i) that are 31 through 60 days delinquent: $15,300,134.00
(ii) that are 61 through 90 days delinquent: $7,483,264.00
(iii) that are 91 through 120 days delinquent: $4,887,392.00
(iv) that are more than 120 days delinquent: $17,430,640.00
(v) for which claims have been filed with the appropriate Guaranty
Agency, guarantor, or escrow fund and which are awaiting payment: $1,182,140.00
</TABLE>
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