Exhibit 99.1

Execution Copy

          ADMINISTRATION AGREEMENT (this "Agreement") dated as of June 1, 2000, among KEYCORP STUDENT LOAN TRUST 2000-A, a Delaware statutory business trust (the "Issuer"), KEY BANK USA, NATIONAL ASSOCIATION, a national banking association, as administrator (the "Administrator"), and BANKERS TRUST COMPANY, a New York banking corporation, not in its individual capacity but solely as Indenture Trustee (the "Indenture Trustee").

W I T N E S S E T H

          WHEREAS the Issuer is issuing two classes of Floating Rate Asset Backed Notes (the "Notes") pursuant to the Indenture dated as of June 1, 2000 (the "Indenture"), between the Issuer and the Indenture Trustee (capitalized terms used herein and not defined herein shall have the meanings assigned to such terms in Appendix A to the Indenture, which also contains rules of usage and construction that shall be applicable herein);

          WHEREAS the Issuer has entered into certain agreements in connection with the issuance of the Notes and the Certificates, including the Sale and Servicing Agreement, the Note Depository Agreement (the "Depository Agreement"), the Interest Rate Swap, the Cap Agreement, the Insurance Agreement, the Guarantee Agreements, the Trust Agreement and the Indenture (all such agreements being collectively referred to herein as the "Related Agreements");

          WHEREAS, pursuant to the Related Agreements, the Issuer and the Eligible Lender Trustee are required to perform certain duties in connection with (a) the Notes and the Collateral therefor pledged pursuant to the Indenture and (b) the Certificate (the registered holder of the Certificate being referred to herein as the "Owner");

          WHEREAS the Issuer and the Eligible Lender Trustee desire to have the Administrator perform certain of the duties of the Issuer and the Eligible Lender Trustee referred to in the preceding clause, and to provide such additional services consistent with the terms of this Agreement and the Related Agreements as the Issuer and the Eligible Lender Trustee may from time to time request;

          WHEREAS the Administrator has the capacity to provide the services required hereby and is willing to perform such services for the Issuer and the Eligible Lender Trustee on the terms set forth herein;

          NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows:

          1.  Duties of the Administrator.

          (a)  Duties with Respect to the Indenture and Depository Agreement. The Administrator shall perform all duties of the Issuer on behalf of the Issuer under the Depository Agreement. In addition, the Administrator shall consult with the Eligible Lender Trustee as the Administrator deems appropriate regarding the duties of the Issuer under the Indenture and the Depository Agreement. The Administrator shall monitor the performance of the Issuer and shall advise the Eligible Lender Trustee when action is necessary to comply with the Issuer's duties under the Indenture and the Depository Agreement. The Administrator shall prepare for execution by the Issuer or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Indenture and the Depository Agreement. In furtherance of the foregoing, the Administrator shall take all appropriate action that is the duty of the Issuer or the Administrator to take pursuant to the Indenture, including such of the foregoing as are required with respect to the following matters (references are to sections of the Indenture):

          (b)  Duties with Respect to the Issuer. (i) In addition to the duties of the Administrator set forth above and in the other Related Agreements, the Administrator shall perform such calculations (and in such capacity is hereby appointed the "Calculation Agent" for the Issuer) and shall prepare for execution by the Issuer or the Eligible Lender Trustee or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer or the Eligible Lender Trustee to prepare, file or deliver pursuant to the Related Agreements, and at the request of the Eligible Lender Trustee shall take all appropriate action that it is the duty of the Issuer to take pursuant to the Related Agreements. Subject to Section 5 of this Agreement, and in accordance with the directions of the Eligible Lender Trustee, the Administrator shall administer, perform or supervise the performance of such other activities in connection with the Collateral (including the Related Agreements) as are not covered by any of the foregoing provisions and as are expressly requested by the Eligible Lender Trustee and are reasonably within the capability of the Administrator.

           (ii) Notwithstanding anything in this Agreement or the Related Agreements to the contrary, the Administrator shall be responsible for promptly notifying the Eligible Lender Trustee in the event that any withholding tax is imposed on the Issuer's payments (or allocations of income) to the Owner as contemplated in Section 5.01(c) of the Trust Agreement. Any such notice shall specify the amount of any withholding tax required to be withheld by the Eligible Lender Trustee pursuant to such provision.

           (iii) Notwithstanding anything in this Agreement or the Related Agreements to the contrary, the Administrator shall be responsible for performance of the duties of the Eligible Lender Trustee set forth in Section 5.04 of the Trust Agreement with respect to, among other things, the preparation of any required tax forms; provided, however, that the Eligible Lender Trustee shall retain responsibility for the distribution of all reports and forms necessary to enable the holder of the Certificate to prepare its Federal and state income tax returns.

          (iv) The Administrator shall perform the duties of the Administrator specified in Section 10.02 of the Trust Agreement required to be performed in connection with the resignation or removal of the Eligible Lender Trustee, and any other duties expressly required to be performed by the Administrator under the Trust Agreement, the Sale and Servicing Agreement and the other Related Agreements.

          (v) The Administrator shall perform the duties of the Eligible Lender Trustee with respect to Section 10.04 of the Sale and Servicing Agreement in connection with the sale of any Access Loans by the Issuer.

          (vi) The Administrator shall be the Calculation Agent under the Cap Agreement and shall give notice to the Cap Provider pursuant to Section 5.04(c) of the Sale and Servicing Agreement when payments are due to the Issuer under the Cap Agreement.

          (vii) The Administrator shall be the Calculation Agent under the Interest Rate Swap and shall give notice to the Swap Counterparty and the Indenture Trustee, with a copy to the Securities Insurer, of the amounts of the Net Trust Swap Payment and the Net Trust Swap Receipt with respect to each Distribution Date, pursuant to Section 5.04(c) of the Sale and Servicing Agreement, and whether a Net Payment is due to the Swap Counterparty or a Net Receipt is due to the Issuer and the amounts thereof; in addition, the Administrator shall deliver all notices, on behalf of the Issuer, required to be delivered by the Issuer under the Interest Rate Swap.

          (viii) The Administrator agrees to provide notice on behalf of the Issuer to all other parties and the Rating Agencies of the occurrence of any event requiring such notice under each of the Basic Documents.

          (ix) In carrying out the foregoing duties or any of its other obligations under this Agreement, the Administrator may enter into transactions with or otherwise deal with any of its Affiliates; provided, however, that the terms of any such transactions or dealings shall be in accordance with any directions received from the Issuer and shall be, in the Administrator's opinion, no less favorable to the Issuer than would be available from unaffiliated parties.

           (c)   Duties of the Administrator, as Administrator. The Administrator agrees to perform all duties to be performed by the Administrator as set forth in this Agreement, the Sale and Servicing Agreement and each of the other Basic Documents.

           (d) Non-Ministerial Matters. With respect to matters that in the reasonable judgment of the Administrator are non-ministerial, the Administrator shall not take any action unless within a reasonable time before the taking of such action, the Administrator shall have notified the Eligible Lender Trustee, the Securities Insurer and the Swap Counterparty of the proposed action and none of the Eligible Lender Trustee ,the Securities Insurer and the Swap Counterparty shall have withheld consent or provided an alternative direction. For the purpose of the preceding sentence, "non-ministerial matters" shall include:

          (e)  Exceptions. Notwithstanding anything to the contrary in this Agreement, except as expressly provided herein or in the other Basic Documents, the Administrator shall not be obligated to, and shall not, (i) make any payments to the holders of the Notes under the Related Agreements, (ii) sell the Indenture Trust Estate pursuant to Section 5.04 of the Indenture, (iii) take any other action that the Issuer directs the Administrator not to take on its behalf, (iv) in connection with its duties hereunder assume any indemnification obligation of any other Person or (v) service the Financed Student Loans.

          2.   Records. The Administrator shall maintain appropriate books of account and records relating to services performed hereunder, which books of account and records shall be accessible for inspection by the Issuer at any time during normal business hours.

           3.   Compensation. As compensation for the performance of the Administrator's obligations under this Agreement and as reimbursement for its expenses related thereto, the Administrator shall be entitled to $3,000 per quarter payable in arrears on each Distribution Date which shall be solely an obligation of the Issuer and such amounts shall be paid as provided for under the Sale and Servicing Agreement. The Administrator hereby agrees, for the benefit of the Issuer and from part of its compensation received hereunder, to pay the Eligible Lender Trustee and the Indenture Trustee their respective fees owed pursuant to the Trust Agreement and the Indenture, as applicable, in the amounts set forth in separate agreements between the Administrator and each of the Eligible Lender Trustee and the Indenture Trustee.

           4.   Additional Information To Be Furnished to the Issuer. The Administrator shall furnish to the Issuer from time to time such additional information regarding the Collateral as the Issuer shall reasonably request.

           5.   Independence of the Administrator. For all purposes of this Agreement, the Administrator shall be an independent contractor and shall not be subject to the supervision of the Issuer or the Eligible Lender Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by the Issuer, the Administrator shall have no authority to act for or represent the Issuer or the Eligible Lender Trustee in any way and shall not otherwise be deemed an agent of the Issuer or the Eligible Lender Trustee.

           6.   No Joint Venture. Nothing contained in this Agreement (i) shall constitute the Administrator and either of the Issuer or the Eligible Lender Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on any of them or (iii) shall be deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the others.

           7.   Other Activities of Administrator. Nothing herein shall prevent the Administrator or its Affiliates from engaging in other businesses or, in its sole discretion, from acting in a similar capacity as an administrator for any other person or entity even though such person or entity may engage in business activities similar to those of the Issuer, the Eligible Lender Trustee or the Indenture Trustee.

           8.   Term of Agreement; Resignation and Removal of Administrator. (a) This Agreement shall continue in force until the dissolution of the Issuer, upon which event this Agreement shall automatically terminate.

          (b)   The provisions of Article VI and Article VIII of the Sale and Servicing Agreement relating to the resignation or removal of the Administrator and the failure of the Administrator to perform its duties under this Agreement or under the Sale and Servicing Agreement are hereby incorporated by reference herein.

           9.   Action upon Termination, Resignation or Removal. Promptly upon the effective date of termination of this Agreement pursuant to Section 8(a) or the resignation or removal of the Administrator pursuant to Section 8(b) and the Sale and Servicing Agreement, the Administrator shall be entitled to be paid all fees accruing to it to the date of such termination, resignation or removal. The Administrator shall forthwith upon such termination pursuant to Section 8(a) deliver to the Issuer all property and documents of or relating to the Collateral then in the custody of the Administrator. In the event of the resignation or removal of the Administrator, the Administrator shall cooperate with the Issuer and take all reasonable steps requested to assist the Issuer in making an orderly transfer of the duties of the Administrator.

           10.   Notices. Any notice, report or other communication given hereunder shall be in writing and addressed as follows:

           (a) if to the Issuer or the Eligible Lender Trustee, to

          (b) if to the Administrator, to

          (c) if to the Indenture Trustee, to

or to such other address as any party shall have provided to the other parties in writing. Any notice required to be in writing hereunder shall be deemed given if such notice is mailed by certified mail, postage prepaid, or hand-delivered to the address of such party as provided above.

          11.    Amendments. This Agreement may be amended from time to time by a written amendment duly executed and delivered by the Issuer, the Administrator and the Indenture Trustee, with the written consent of the Eligible Lender Trustee and (provided that no Securities Insurer Default has occurred and is continuing) the Securities Insurer (such consent not to be unreasonably withheld), without the consent of the holders of the Notes and the holder of the Certificate, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the holders of the Notes or the holder of the Certificate; provided that such amendment will not, in an Opinion of Counsel obtained on behalf of the Issuer and satisfactory to the Indenture Trustee, the Eligible Lender Trustee and (provided that no Securities Insurer Default has occurred and is continuing) the Securities Insurer, materially and adversely affect the interest of any holder of the Notes or holder of the Certificates. This Agreement may also be amended by the Issuer, the Administrator and the Indenture Trustee with the written consent of the Eligible Lender Trustee and the Securities Insurer (unless a Securities Insurer Default shall have occurred and is continuing then by the holders of the Notes of at least a majority in the Outstanding Amount of the Notes and the holder of the Certificate) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the holders of the Notes or the holder of the Certificate; provided, however, that no such amendment may (i) increase or reduce in any manner the amount of, or accelerate or delay the timing of, distributions that are required to be made for the benefit of the holders of the Notes or the holder of the Certificate or (ii) reduce the aforesaid percentage of the holders of the Notes which are required to consent to any such amendment, without the consent of all Outstanding holders of the Notes, and such right of consent in this proviso may not be exercised by the Securities Insurer on behalf of the Noteholders. Notwithstanding the foregoing, the Administrator may not amend this Agreement without the permission of the Depositor, which permission shall not be unreasonably withheld. Prior to the execution of any such amendment, the Administrator shall furnish written notification of the substance of such amendment to each of the Rating Agencies.

          12.   Successors and Assigns. Notwithstanding anything to the contrary contained herein, except as provided in Sections 6.05 and 6.08 of the Sale and Servicing Agreement, this Agreement may not be assigned by the Administrator. Subject to the foregoing, this Agreement shall bind any successors or assigns of the parties hereto.

           l3.   Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

           14.   Headings. The section headings hereof have been inserted for convenience of reference only and shall not be construed to affect the meaning, construction or effect of this Agreement.

           15.   Counterparts. This Agreement may be executed in counterparts, each of which when so executed shall together constitute but one and the same agreement.

           16.   Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

          17.   Not Applicable to Key Bank USA, National Association in Other Capacities. Nothing in this Agreement shall affect any obligation Key Bank USA, National Association may have in any other capacity under the Basic Documents.

           18.   Provisions of Sale and Servicing Agreement Control. The provisions of the Sale and Servicing Agreement relating to the Administrator and to this Agreement shall in all events govern and are hereby incorporated herein and, to the extent any provision herein shall be inconsistent with any such provision of the Sale and Servicing Agreement, the Sale and Servicing Agreement shall govern.

           19.   Limitation of Liability of Eligible Lender Trustee and Indenture Trustee. (a)   Notwithstanding anything contained herein to the contrary, except as provided in subsection (c) of this section, this instrument has been countersigned by Bank One National Association not in its individual capacity but solely in its capacity as Eligible Lender Trustee of the Issuer and subject to the succeeding paragraph, in no event shall Bank One National Association, in its individual capacity, Bankers Trust Company or any Owner of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder, as to all of which recourse shall be had solely to the assets of the Issuer that are free of the lien of the Indenture. For all purposes of this Agreement, in the performance of any duties or obligations of the Issuer hereunder, the Eligible Lender Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement.

           (b)   Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by Bankers Trust Company not in its individual capacity but solely as Indenture Trustee and in no event shall Bankers Trust Company have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer.

           (c)   Notwithstanding any other provision in this Agreement or the other Basic Documents, nothing in this Agreement or the other Basic Documents shall be construed to limit the Eligible Lender Trustee's or the Indenture Trustee's legal responsibility to the U.S. Secretary of Education or a Guarantor for any violations of statutory or regulatory requirements that may occur with respect to loans held by the Eligible Lender Trustee or the Indenture Trustee pursuant to, or to otherwise comply with, their obligations under the Higher Education Act or implementing regulations.

           20.   Third-Party Beneficiaries. The Eligible Lender Trustee, the Swap Counterparty and the Securities Insurer are third-party beneficiaries to this Agreement and are entitled to the rights and benefits hereunder and may enforce the provisions hereof as if they were a parties hereto.