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Previous: KEYCORP STUDENT LOAN TRUST 1999 B, 8-K, 2000-06-13 |
Next: KEYCORP STUDENT LOAN TRUST 1999 B, 8-K, EX-99.B, 2000-06-13 |
<PAGE> 1
<TABLE>
<CAPTION>
Exhibit 99(a)
KEYCORP STUDENT LOAN TRUST 1999-B
CERTIFICATEHOLDERS' STATEMENT
pursuant to Section 5.07(b) of Sale and Servicing
Agreement (capitalized terms used herein are defined in Appendix A thereto)
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Distribution Date: May 25, 2000
(i) Amount of principal being paid or distributed in respect of the Certificates:
$0.00
--------------------------
( $ - , per $1,000 original principal amount of the Notes)
--------------------------
(ii) (a) Amount of interest being paid or distributed in respect of the Certificates:
$1,109,875.00
--------------------------
( $ 0.0000171 , per $1,000 original principal amount of the Notes)
--------------------------
(a) Amount of interest being paid or distributed in respect of the Certificates Strip:
$29,250.00
--------------------------
( $ 0.0000005 , per $1,000 original principal amount of the Notes)
--------------------------
(iii) Amount of Certificateholders' Interest Index Carryover being or distributed (if any) and amount
remaining (if any):
(1) (a) Distributed to Certificateholders:
$0.00
--------------------------
( $ - , per $1,000 original principal amount of the Certificates)
--------------------------
(b) Distributed to Certificateholders:
$0.00
--------------------------
( $ - , per $1,000 original principal amount of the Certificates)
--------------------------
(2) (a) Balance on Certificateholders:
$0.00
---------------------------
( $ - , per $1,000 original principal amount of the Notes)
---------------------------
(b) Balance on Certificateholders:
$0.00
--------------------------
( $ - , per $1,000 original principal amount of the Notes)
--------------------------
(iv) Payments made under the Cap Agreement on such date: May 24, 2000
-------------------------------------------------
( $0.00 with respect to the Certificates,
--------------------------
( $0.00 with respect to the Notes,
--------------------------
( $0.00 outstanding amount owed to Cap Provider.
--------------------------
(v) Pool Balance at end of related Collection Period: $912,002,986.35
-----------------------------------------
(vi) After giving effect to distributions on this Distribution Date:
(a) (1) Outstanding principal amount of Class A-1 Notes: $242,948,898.17
-----------------------------------------
(2) Class A-1 Note Pool Factor: 0.86767464
---------------------------------
(b) (1) Outstanding principal amount of Class A-2 Notes: $625,000,000.00
-----------------------------------------
(2) Class A-2 Note Pool Factor: 1.00000000
---------------------------------
(c) (1) Outstanding principal amount of Class M Notes: $30,000,000.00
-----------------------------------------
(2) Class M Note Pool Factor: 1.00000000
---------------------------------
(d) (1) Outstanding principal amount of Certificates: $65,000,000.00
-----------------------------------------
(2) Certificate Pool Factor: 1.00000000
---------------------------------
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<PAGE> 2
Page 2
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
(vii) Certificate Interest Rate:
(a) In general
(1) Three-Month Libor was
0.0000000% for the period from the Closing Date to but excluding 11/26/99 and
------------------
6.1100000% for the period from and including 11/26/99 to but excluding 02/25/2000 and
------------------
(2) The Student Loan Rate was: Not Applicable(1)
-----------------------
(b) Certificate Interest Rate: 7.0100000% (Based on 3-Month LIBOR)
----------------
(1)This Calculation not required unless Three-Month LIBOR for
such Interest Period is 100 basis points greater than
Three-Month LIBOR of the preceding Determination Date.
(viii) Amount of Master Servicing Fee for related Collection Period: $1,141,614.99
---------------------------------
$ 0.000017563 , per $1,000 original principal amount of the Certificates.
------------------
(ix) Amount of Administration Fee for related Collection Period: $3,000.00
---------------------------------
$ 0.046153846 , per $1,000 original principal amount of the Certificates.
------------------
(x) (a) Aggregate amount of Realized Losses (if any) for the related Collection Period: $242,734.38
-----------------
(b) Delinquent Contracts # Disb. % $ Amount %
------- --- -------- ---
30-60 Days Delinquent 2,613 2.71% $ 25,402,340 4.93%
61-90 Days Delinquent 976 1.01% $ 9,445,886 1.83%
91-120 Days Delinquent 503 52.00% $ 4,176,210 0.81%
More than 120 Days Delinquent 1,167 1.21% $ 10,714,691 2.08%
Claims Filed Awaiting Payment 106 11.00% $ 1,063,082 0.21%
--------- ----------- ---------------
TOTAL 5,365 67.93% $ 50,802,209 9.86%
(xi) Amount in the Reserve Account: $17,100,072.89
----------------------
(xii) Amount in the Prefunding Account: $35,816,893.80
----------------------
(xiii) Amount remaining in the Subsequent Pool Pre-Funding Subaccount not used to acquire
Subsequent Pool Student Loans: 0.00
</TABLE>
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