SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 reported) December 15, 1997
Trans-World Insurance Company d/b/a Educaid and
Class Notes Inc.(as Sellers) on behalf of
ClassNotes Trust 1997-I.
ClassNotes Inc.
Trans-World Insurance Company
(Exact name of registrant as specified in its charter)
Delaware 22-3400682
Arizona 333-18877 86-0255348
(State or other (Commission (IRS Employer
jurisdiction of incorporation) File Number) ID Number)
3301 C STREET, SUITE 100-M, SACRAMENTO, CALIFORNIA 95816
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number,
including area code: (916) 446-5000
N/A
(Former name or former address, if changed since last report)
<PAGE>
Item 5. OTHER EVENTS
This Current Report on Form 8-K is being filed to file a copy of the
Computational Materials (as defined below) of Salomon Brothers Inc and First
Union Capital Markets Corp., (each an "Underwriter") in connection with the
issuance by ClassNotes Trust 1997-I of its Asset-Backed Notes, Series 1997- 2.
The term "Computational Materials" shall have the meanings given in the
No-Action Letter of May 20, 1994 issued by the Securities and Exchange
Commission to Kidder, Peabody Acceptance Corporation I, Kidder, Peabody & Co.
Incorporated and Kidder Structured Asset Corporation, as supplemented in the
No-Action Letters of May 27, 1994 and February 17, 1995 issued by the SEC to the
Public Securities Association.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) EXHIBITS
EXHIBIT NO.
99.1 Computational Materials of Salomon Brothers Inc
99.2 Computational Materials of First Union Capital Markets Corp.
<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.
CLASSNOTES TRUST 1997-I
By: TRANS-WORLD INSURANCE COMPANY and
CLASSNOTES, INC.
By:/s/ Michael Benoff
Name: Michael Benoff
Title: Senior Vice President
Dated: December 17, 1997
EXHIBIT 99.1
THE INFORMATION CONTAINED HEREIN WILL BE SUPERCEDED BY THE DESCRIPTION OF THE
COLLATERAL IN THE PROSPECTUS SUPPLEMENT
- ----------------------------- ------------------------------------------------
CLASSNOTES TRUST 1997-I
PORTFOLIO STATISTICS
DATA AS OF 11/30/97
- ----------------------------- -----------------------------------------------
Weighted Average Interest Rate 7.86%
Weighted Average 108
Remaining Repayment
Terms
Weighted 121
Average Remaining
Terms (including
school, grace,
deferment and forbearance
periods)
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
SERVICER CURRENT BALANCE LOANS NUMBER BORROWERS
BALANCE AS A % ACCRUED NUMBER AS A OF AS A %
INTEREST OF % BORROWERS
LOANS
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
AFSA 40,718,285 8.4% 1,425,204 20,767 14.2% 8,605 7.8%
Educaid 372,511,676 76.7% 6,153,579 111,239 76.3% 91,506 83.0%
Great Lakes 1,288,315 0.3% 7,769 826 0.6% 622 0.6%
PHEAA 71,092,370 14.6% 1,142,562 12,982 8.9% 9,518 8.6%
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL 485,610,646 100.0% 8,729,114 145,814 100.0% 110,251 100.0%
- -----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
LOAN TYPE CURRENT BALANCE LOANS NUMBER BORROWERS
BALANCE AS A NUMBER AS A OF AS A %
% ACCRUED OF % BORROWERS
INTEREST LOANS
- ----------------------------------------------------------------------------------------------------------------------------------
Consolidation 23,144,314 4.8% 324,436 1,241 0.9% 1,241 1.1%
Private:Extra 13,815,876 2.8% 328,474 1,779 1.2% 1,422 1.3%
Private:Please 11,907 0.0% 24 1 0.0% 1 0.0%
PLUS 28,847,928 5.9% 530,942 7,789 5.3% 4,862 4.4%
Subsidized Stafford 272,454,746 56.1% 681,132 86,602 59.4% 67,672 61.4%
Unsubsidized Stafford 147,335,876 30.3% 6,864,107 48,402 33.2% 35,053 31.8%
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL 485,610,646 100.0% 8,729,114 145,814 100.0% 110,251 100.0%
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
STATUS CURRENT BALANCE LOANS NUMBER BORROWERS
BALANCE AS A NUMBER AS A OF AS A %
% ACCRUED OF % BORROWERS
INTEREST LOANS
- -----------------------------------------------------------------------------------------------------------------------------------
School 382,309,023 78.7% 6,433,195 116,438 79.9% 94,944 86.1%
Grace 14,479,674 3.0% 696,293 6,700 4.6% 2,578 2.3%
Deferment 14,939,970 3.1% 390,132 2,569 1.8% 1,786 1.6%
Forbearance 8,158,028 1.7% 405,812 1,519 1.0% 844 0.8%
First Yr. Repayment 64,991,618 13.4% 755,035 18,197 12.5% 9,912 9.0%
Second Yr. Repayment 314,524 0.0% 9,464 147 0.1% 70 0.0%
Third Year Repayment 71,636 0.0% 2,387 43 0.0% 20 0.0%
Fourth Year Repayment 65,011 0.0% 2,307 67 0.0% 29 0.0%
Claim 281,162 0.0% 34,488 134 0.0% 68 0.0%
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL 485,610,646 100.0% 8,729,114 145,814 100.0% 110,251 100.0%
- ----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
RANGE OF CURRENT BALANCE LOANS NUMBER BORROWERS
INTEREST RATES BALANCE AS A NUMBER AS A OF AS A %
% ACCRUED OF % BORROWERS
INTEREST LOANS
- -----------------------------------------------------------------------------------------------------------------------------------
Less than 7.50% 117,531 0.0% 779 16 0.0% 11 0.0%
7.50%-8.49% 422,886,912 87.1% 7,588,990 135,149 92.7% 102,875 93.3%
8.50%-9.49% 62,586,416 12.9% 1,139,083 10,647 7.3% 7,363 6.7%
Greater than 9.50% 19,787 0.0% 261 2 0.0% 2 0.0%
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL 485,610,647 100.0% 8,729,114 145,814 100.0% 110,251 100.0%
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
SCHOOL TYPE CURRENT BALANCE LOANS NUMBER BORROWERS
BALANCE AS A NUMBER AS A OF AS A %
% ACCRUED OF % BORROWERS
INTEREST LOANS
- ----------------------------------------------------------------------------------------------------------------------------------
4 Year Public 170,235,473 35.1% 2,129,169 53,273 36.5% 42,181 38.3%
4 Year Private 243,895,737 50.2% 4,763,375 58,537 40.1% 46,714 42.4%
2 Year Private 3,040,592 0.6% 64,521 1,257 0.9% 1,090 1.0%
2 Year Public 44,294,828 9.1% 929,606 23,122 15.9% 15,778 14.3%
Prop/Vocat. 20,062,338 4.1% 784,548 8,021 5.5% 3,254 3.0%
Unknown 4,081,678 0.8% 57,895 1,604 1.1% 1,234 1.1%
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL 485,610,647 100.0% 8,729,114 145,814 100.0% 110,251 100.0%
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
THE INFORMATION CONTAINED HEREIN WILL BE SUPERCEDED BY THE DESCRIPTION
OF THE COLLATERAL IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
CLASSNOTES TRUST 1997-I
PORTFOLIO STATISTICS
DATA AS OF 11/30/97
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
GUARANTOR BALANCE % BY NOTES
BALANCE
- -------------------------------------------------------------------------------
Arizona Educational Loam Program AELP 2,242,185 0.46% 540
American Assistance Agency ASA 195,982 0.04% 214
Colorado CO 528,602 0.11% 160
California Student Aid Commission CSAC 112,308,384 23.13% 31,461
Connecticut Student Loan Found. CSLF 23,401 0.00% 6
Educational Credit Mgmt. Corp. ECMC 6,619,913 1.36% 2,807
Florida Office of Student Fin. Ass. FOSF 9,951,197 2.05% 5,179
Georgia Student Fin. Comm. GA 10,639 0.00% 2
Great Lakes GREAT 74,845,879 15.41% 24,665
Great Lakes HICA 13,827,783 2.85% 1,780
Illinois Student Ass. Comm. ISAC 53,039,744 10.92% 17,502
Kentucky Higher Ed. AA KHEAA 1,617 0.00% 2
Louisiana LA 516,466 0.11% 184
Mich. Guarantee Agency MGA 92,728 0.02% 30
Missouri Student Loan Prog. MSLP 477,532 0.10% 171
Northwest Ed. Ln. Assoc. NELA 1,912,813 0.39% 697
New Jersey HEAA NJHEA 8,221,995 1.69% 2,703
Northstar Guarantee Inc. NORTH 110,357 0.02% 48
Nebraska Student Loan Prog. NSLP 1,062,373 0.22% 358
New York SHEA NYSHE 14,299,775 2.94% 3,360
PHEAA PHEAA 25,955,121 5.34% 2,772
Stud. Loan Guarantee Found. of AR SLGFA 19,621 0.00% 17
Texas GSLC TGSLC 9,618,874 1.98% 4,473
USAF USAF 123,957,128 25.53% 37,030
Unknown ZUN 25,770,539 5.31% 9,653
-----------------------------------------
485,610,647 100.00% 145,814
</TABLE>
<PAGE>
THE INFORMATION CONTAINED HEREIN WILL BE SUPERCEDED BY THE DESCRIPTION
OF THE COLLATERAL IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
CLASSNOTES 1997-2, THE MONEY STORE
CLASS A-4 NOTES
PROJECTED CASH FLOWS
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MONTH DAY YEAR 0 CPR 3 CPR 5 CPR 7 CPR 9 CPR 15 CPR
- ----- --- ---- ----- ----- ----- ----- ----- ------
12 24 1997 150,000,000 150,000,000 150,000,000 150,000,000 150,000,000 150,000,000
1 15 1998 149,807,991 149,741,651 149,696,372 149,650,209 149,603,128 149,455,966
2 15 1998 149,306,194 149,153,202 149,048,971 148,942,869 148,834,820 148,498,174
3 15 1998 148,762,097 148,508,631 148,336,262 148,161,061 147,982,917 147,429,640
4 15 1998 148,179,164 147,813,313 147,564,961 147,312,898 147,056,987 146,264,655
5 15 1998 147,575,641 147,091,874 146,764,080 146,431,891 146,095,148 145,055,892
6 15 1998 146,955,357 146,349,880 145,940,384 145,526,031 145,106,654 143,816,583
7 15 1998 146,243,433 145,487,195 144,976,503 144,460,386 143,938,663 142,337,900
8 15 1998 145,423,695 144,473,633 143,832,766 143,185,680 142,532,169 140,530,845
9 15 1998 144,577,805 143,427,116 142,651,965 141,870,157 141,081,473 138,671,802
10 15 1998 143,713,963 142,359,239 141,448,027 140,530,129 139,605,328 136,787,172
11 15 1998 142,802,899 141,226,516 140,167,763 139,102,515 138,030,563 134,772,205
12 15 1998 141,657,606 139,754,401 138,476,925 137,192,238 135,900,092 131,976,188
1 15 1999 140,269,701 137,939,782 136,376,293 134,804,291 133,223,458 128,424,507
2 15 1999 138,809,711 136,026,376 134,159,821 132,284,070 130,398,759 124,681,479
3 15 1999 137,289,720 134,035,477 131,855,150 129,665,737 127,466,851 120,809,122
4 15 1999 135,709,798 131,967,921 129,463,677 126,951,284 124,430,354 116,812,097
5 15 1999 134,106,200 129,876,983 127,050,327 124,217,535 121,378,247 112,817,437
6 15 1999 132,486,281 127,774,187 124,629,453 121,481,708 118,330,641 108,854,081
7 15 1999 130,088,097 124,878,181 121,406,425 117,935,606 114,465,468 104,056,304
8 15 1999 127,610,435 121,883,337 118,072,632 114,267,595 110,468,024 99,099,862
9 15 1999 125,099,670 118,856,314 114,708,615 110,572,398 106,447,520 94,139,352
10 15 1999 122,574,283 115,821,228 111,342,319 106,881,836 102,439,706 89,222,573
11 15 1999 120,022,773 112,759,201 107,949,795 103,166,758 98,410,079 84,297,988
12 15 1999 117,277,811 109,429,911 104,240,882 99,086,176 93,965,790 78,810,443
1 15 2000 104,166,736 95,707,106 90,121,202 84,578,350 79,078,519 62,836,766
2 15 2000 101,152,524 92,028,515 86,011,431 80,046,741 74,134,376 56,710,376
3 15 2000 96,208,959 86,449,868 80,022,893 73,659,058 67,358,243 48,832,591
4 15 2000 92,877,955 82,336,662 75,401,331 68,539,484 61,750,872 41,821,744
5 15 2000 89,527,478 78,209,876 70,772,146 63,419,866 56,152,656 34,857,407
6 15 2000 85,463,066 72,719,508 64,814,980 57,009,520 49,302,609 26,767,722
7 15 2000 82,436,138 68,930,879 60,537,678 52,258,662 44,093,158 20,270,693
8 15 2000 79,365,115 65,094,004 56,211,098 47,458,847 38,836,388 13,738,842
9 15 2000 76,285,414 61,258,530 51,894,582 42,679,277 33,611,531 6,356,904
10 15 2000 73,201,198 57,432,871 47,599,388 37,934,054 28,435,524 1,461
11 15 2000 70,105,629 53,607,030 43,313,296 33,208,626 23,291,372 -
12 15 2000 66,852,026 49,573,067 38,786,492 28,210,437 17,842,858 -
1 15 2001 63,460,317 45,361,993 34,057,674 22,986,117 12,144,799 -
2 15 2001 60,031,606 41,117,975 29,300,479 17,739,408 6,431,702 -
3 15 2001 56,584,178 36,868,841 24,549,207 12,511,162 751,051 -
4 15 2001 53,116,540 32,612,382 19,801,087 7,297,974 - -
5 15 2001 49,631,579 28,352,945 15,061,402 2,106,027 - -
6 15 2001 46,124,646 24,088,146 10,329,261 - - -
7 15 2001 42,638,072 19,857,167 5,641,596 - - -
8 15 2001 39,120,977 15,608,191 945,885 - - -
9 15 2001 35,586,550 11,359,156 - - - -
10 15 2001 32,036,091 7,111,770 - - - -
11 15 2001 28,464,052 2,859,113 - - - -
12 15 2001 24,831,344 - - - - -
1 15 2002 21,110,500 - - - - -
2 15 2002 17,357,993 - - - - -
3 15 2002 13,584,248 - - - - -
4 15 2002 9,788,852 - - - - -
5 15 2002 5,979,372 - - - - -
6 15 2002 2,146,997 - - - - -
7 15 2002 - - - - - -
8 15 2002 - - - - - -
</TABLE>
EXHIBIT 99.2
THE INFORMATION CONTAINED HEREIN WILL BE SUPERCEDED BY THE DESCRIPTION OF THE
COLLATERAL IN THE PROSPECTUS SUPPLEMENT
- ----------------------------- ------------------------------------------------
CLASSNOTES TRUST 1997-I
PORTFOLIO STATISTICS
DATA AS OF 11/30/97
- ----------------------------- -----------------------------------------------
Weighted Average Interest Rate 7.86%
Weighted Average 108
Remaining Repayment
Terms
Weighted 121
Average Remaining
Terms (including
school, grace,
deferment and forbearance
periods)
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
SERVICER CURRENT BALANCE LOANS NUMBER BORROWERS
BALANCE AS A % ACCRUED NUMBER AS A OF AS A %
INTEREST OF % BORROWERS
LOANS
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
AFSA 40,718,285 8.4% 1,425,204 20,767 14.2% 8,605 7.8%
Educaid 372,511,676 76.7% 6,153,579 111,239 76.3% 91,506 83.0%
Great Lakes 1,288,315 0.3% 7,769 826 0.6% 622 0.6%
PHEAA 71,092,370 14.6% 1,142,562 12,982 8.9% 9,518 8.6%
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL 485,610,646 100.0% 8,729,114 145,814 100.0% 110,251 100.0%
- -----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
LOAN TYPE CURRENT BALANCE LOANS NUMBER BORROWERS
BALANCE AS A NUMBER AS A OF AS A %
% ACCRUED OF % BORROWERS
INTEREST LOANS
- ----------------------------------------------------------------------------------------------------------------------------------
Consolidation 23,144,314 4.8% 324,436 1,241 0.9% 1,241 1.1%
Private:Extra 13,815,876 2.8% 328,474 1,779 1.2% 1,422 1.3%
Private:Please 11,907 0.0% 24 1 0.0% 1 0.0%
PLUS 28,847,928 5.9% 530,942 7,789 5.3% 4,862 4.4%
Subsidized Stafford 272,454,746 56.1% 681,132 86,602 59.4% 67,672 61.4%
Unsubsidized Stafford 147,335,876 30.3% 6,864,107 48,402 33.2% 35,053 31.8%
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL 485,610,646 100.0% 8,729,114 145,814 100.0% 110,251 100.0%
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
STATUS CURRENT BALANCE LOANS NUMBER BORROWERS
BALANCE AS A NUMBER AS A OF AS A %
% ACCRUED OF % BORROWERS
INTEREST LOANS
- -----------------------------------------------------------------------------------------------------------------------------------
School 382,309,023 78.7% 6,433,195 116,438 79.9% 94,944 86.1%
Grace 14,479,674 3.0% 696,293 6,700 4.6% 2,578 2.3%
Deferment 14,939,970 3.1% 390,132 2,569 1.8% 1,786 1.6%
Forbearance 8,158,028 1.7% 405,812 1,519 1.0% 844 0.8%
First Yr. Repayment 64,991,618 13.4% 755,035 18,197 12.5% 9,912 9.0%
Second Yr. Repayment 314,524 0.0% 9,464 147 0.1% 70 0.0%
Third Year Repayment 71,636 0.0% 2,387 43 0.0% 20 0.0%
Fourth Year Repayment 65,011 0.0% 2,307 67 0.0% 29 0.0%
Claim 281,162 0.0% 34,488 134 0.0% 68 0.0%
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL 485,610,646 100.0% 8,729,114 145,814 100.0% 110,251 100.0%
- ----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
RANGE OF CURRENT BALANCE LOANS NUMBER BORROWERS
INTEREST RATES BALANCE AS A NUMBER AS A OF AS A %
% ACCRUED OF % BORROWERS
INTEREST LOANS
- -----------------------------------------------------------------------------------------------------------------------------------
Less than 7.50% 117,531 0.0% 779 16 0.0% 11 0.0%
7.50%-8.49% 422,886,912 87.1% 7,588,990 135,149 92.7% 102,875 93.3%
8.50%-9.49% 62,586,416 12.9% 1,139,083 10,647 7.3% 7,363 6.7%
Greater than 9.50% 19,787 0.0% 261 2 0.0% 2 0.0%
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL 485,610,647 100.0% 8,729,114 145,814 100.0% 110,251 100.0%
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
SCHOOL TYPE CURRENT BALANCE LOANS NUMBER BORROWERS
BALANCE AS A NUMBER AS A OF AS A %
% ACCRUED OF % BORROWERS
INTEREST LOANS
- ----------------------------------------------------------------------------------------------------------------------------------
4 Year Public 170,235,473 35.1% 2,129,169 53,273 36.5% 42,181 38.3%
4 Year Private 243,895,737 50.2% 4,763,375 58,537 40.1% 46,714 42.4%
2 Year Private 3,040,592 0.6% 64,521 1,257 0.9% 1,090 1.0%
2 Year Public 44,294,828 9.1% 929,606 23,122 15.9% 15,778 14.3%
Prop/Vocat. 20,062,338 4.1% 784,548 8,021 5.5% 3,254 3.0%
Unknown 4,081,678 0.8% 57,895 1,604 1.1% 1,234 1.1%
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL 485,610,647 100.0% 8,729,114 145,814 100.0% 110,251 100.0%
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
THE INFORMATION CONTAINED HEREIN WILL BE SUPERCEDED BY THE DESCRIPTION
OF THE COLLATERAL IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
CLASSNOTES TRUST 1997-I
PORTFOLIO STATISTICS
DATA AS OF 11/30/97
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
GUARANTOR BALANCE % BY NOTES
BALANCE
- -------------------------------------------------------------------------------
Arizona Educational Loam Program AELP 2,242,185 0.46% 540
American Assistance Agency ASA 195,982 0.04% 214
Colorado CO 528,602 0.11% 160
California Student Aid Commission CSAC 112,308,384 23.13% 31,461
Connecticut Student Loan Found. CSLF 23,401 0.00% 6
Educational Credit Mgmt. Corp. ECMC 6,619,913 1.36% 2,807
Florida Office of Student Fin. Ass. FOSF 9,951,197 2.05% 5,179
Georgia Student Fin. Comm. GA 10,639 0.00% 2
Great Lakes GREAT 74,845,879 15.41% 24,665
Great Lakes HICA 13,827,783 2.85% 1,780
Illinois Student Ass. Comm. ISAC 53,039,744 10.92% 17,502
Kentucky Higher Ed. AA KHEAA 1,617 0.00% 2
Louisiana LA 516,466 0.11% 184
Mich. Guarantee Agency MGA 92,728 0.02% 30
Missouri Student Loan Prog. MSLP 477,532 0.10% 171
Northwest Ed. Ln. Assoc. NELA 1,912,813 0.39% 697
New Jersey HEAA NJHEA 8,221,995 1.69% 2,703
Northstar Guarantee Inc. NORTH 110,357 0.02% 48
Nebraska Student Loan Prog. NSLP 1,062,373 0.22% 358
New York SHEA NYSHE 14,299,775 2.94% 3,360
PHEAA PHEAA 25,955,121 5.34% 2,772
Stud. Loan Guarantee Found. of AR SLGFA 19,621 0.00% 17
Texas GSLC TGSLC 9,618,874 1.98% 4,473
USAF USAF 123,957,128 25.53% 37,030
Unknown ZUN 25,770,539 5.31% 9,653
-----------------------------------------
485,610,647 100.00% 145,814
</TABLE>
<PAGE>
THE INFORMATION CONTAINED HEREIN WILL BE SUPERCEDED BY THE DESCRIPTION
OF THE COLLATERAL IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
CLASSNOTES 1997-2, THE MONEY STORE
CLASS A-4 NOTES
PROJECTED CASH FLOWS
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
MONTH DAY YEAR 0 CPR 3 CPR 5 CPR 7 CPR 9 CPR 15 CPR
- ----- --- ---- ----- ----- ----- ----- ----- ------
12 24 1997 150,000,000 150,000,000 150,000,000 150,000,000 150,000,000 150,000,000
1 15 1998 149,807,991 149,741,651 149,696,372 149,650,209 149,603,128 149,455,966
2 15 1998 149,306,194 149,153,202 149,048,971 148,942,869 148,834,820 148,498,174
3 15 1998 148,762,097 148,508,631 148,336,262 148,161,061 147,982,917 147,429,640
4 15 1998 148,179,164 147,813,313 147,564,961 147,312,898 147,056,987 146,264,655
5 15 1998 147,575,641 147,091,874 146,764,080 146,431,891 146,095,148 145,055,892
6 15 1998 146,955,357 146,349,880 145,940,384 145,526,031 145,106,654 143,816,583
7 15 1998 146,243,433 145,487,195 144,976,503 144,460,386 143,938,663 142,337,900
8 15 1998 145,423,695 144,473,633 143,832,766 143,185,680 142,532,169 140,530,845
9 15 1998 144,577,805 143,427,116 142,651,965 141,870,157 141,081,473 138,671,802
10 15 1998 143,713,963 142,359,239 141,448,027 140,530,129 139,605,328 136,787,172
11 15 1998 142,802,899 141,226,516 140,167,763 139,102,515 138,030,563 134,772,205
12 15 1998 141,657,606 139,754,401 138,476,925 137,192,238 135,900,092 131,976,188
1 15 1999 140,269,701 137,939,782 136,376,293 134,804,291 133,223,458 128,424,507
2 15 1999 138,809,711 136,026,376 134,159,821 132,284,070 130,398,759 124,681,479
3 15 1999 137,289,720 134,035,477 131,855,150 129,665,737 127,466,851 120,809,122
4 15 1999 135,709,798 131,967,921 129,463,677 126,951,284 124,430,354 116,812,097
5 15 1999 134,106,200 129,876,983 127,050,327 124,217,535 121,378,247 112,817,437
6 15 1999 132,486,281 127,774,187 124,629,453 121,481,708 118,330,641 108,854,081
7 15 1999 130,088,097 124,878,181 121,406,425 117,935,606 114,465,468 104,056,304
8 15 1999 127,610,435 121,883,337 118,072,632 114,267,595 110,468,024 99,099,862
9 15 1999 125,099,670 118,856,314 114,708,615 110,572,398 106,447,520 94,139,352
10 15 1999 122,574,283 115,821,228 111,342,319 106,881,836 102,439,706 89,222,573
11 15 1999 120,022,773 112,759,201 107,949,795 103,166,758 98,410,079 84,297,988
12 15 1999 117,277,811 109,429,911 104,240,882 99,086,176 93,965,790 78,810,443
1 15 2000 104,166,736 95,707,106 90,121,202 84,578,350 79,078,519 62,836,766
2 15 2000 101,152,524 92,028,515 86,011,431 80,046,741 74,134,376 56,710,376
3 15 2000 96,208,959 86,449,868 80,022,893 73,659,058 67,358,243 48,832,591
4 15 2000 92,877,955 82,336,662 75,401,331 68,539,484 61,750,872 41,821,744
5 15 2000 89,527,478 78,209,876 70,772,146 63,419,866 56,152,656 34,857,407
6 15 2000 85,463,066 72,719,508 64,814,980 57,009,520 49,302,609 26,767,722
7 15 2000 82,436,138 68,930,879 60,537,678 52,258,662 44,093,158 20,270,693
8 15 2000 79,365,115 65,094,004 56,211,098 47,458,847 38,836,388 13,738,842
9 15 2000 76,285,414 61,258,530 51,894,582 42,679,277 33,611,531 6,356,904
10 15 2000 73,201,198 57,432,871 47,599,388 37,934,054 28,435,524 1,461
11 15 2000 70,105,629 53,607,030 43,313,296 33,208,626 23,291,372 -
12 15 2000 66,852,026 49,573,067 38,786,492 28,210,437 17,842,858 -
1 15 2001 63,460,317 45,361,993 34,057,674 22,986,117 12,144,799 -
2 15 2001 60,031,606 41,117,975 29,300,479 17,739,408 6,431,702 -
3 15 2001 56,584,178 36,868,841 24,549,207 12,511,162 751,051 -
4 15 2001 53,116,540 32,612,382 19,801,087 7,297,974 - -
5 15 2001 49,631,579 28,352,945 15,061,402 2,106,027 - -
6 15 2001 46,124,646 24,088,146 10,329,261 - - -
7 15 2001 42,638,072 19,857,167 5,641,596 - - -
8 15 2001 39,120,977 15,608,191 945,885 - - -
9 15 2001 35,586,550 11,359,156 - - - -
10 15 2001 32,036,091 7,111,770 - - - -
11 15 2001 28,464,052 2,859,113 - - - -
12 15 2001 24,831,344 - - - - -
1 15 2002 21,110,500 - - - - -
2 15 2002 17,357,993 - - - - -
3 15 2002 13,584,248 - - - - -
4 15 2002 9,788,852 - - - - -
5 15 2002 5,979,372 - - - - -
6 15 2002 2,146,997 - - - - -
7 15 2002 - - - - - -
8 15 2002 - - - - - -
</TABLE>
