Distribution of the Trust Student Loans by Borrower State (as of April 30, 2004) Percentage of Trust Student State Number of Loans Outstanding Principal Balance Loans by Outstanding Principal Balance Alabama 526 $5,581,988 1.1% Alaska 45 $499,039 0.1% Arizona 1,001 $10,989,816 2.2% Arkansas 363 $3,267,486 0.6% California 3,247 $42,509,364 8.4% Colorado 713 $7,990,227 1.6% Connecticut 400 $4,384,589 0.9% Delaware 121 $1,145,043 0.2% District of Columbia 80 $934,348 0.2% Florida 2,071 $24,304,289 4.8% Georgia 934 $10,479,181 2.1% Hawaii 116 $1,600,061 0.3% Idaho 129 $1,135,369 0.2% Illinois 2,771 $27,521,804 5.5% Indiana 1,953 $17,784,718 3.5% Iowa 271 $2,433,508 0.5% Kansas 464 $4,015,965 0.8% Kentucky 658 $5,835,182 1.2% Louisiana 1,667 $15,845,378 3.1% Maine 160 $1,296,723 0.3% Maryland 878 $9,324,582 1.9% Massachusetts 808 $9,045,677 1.8% Michigan 2,552 $24,275,812 4.8% Minnesota 499 $4,731,214 0.9% Mississippi 273 $2,606,925 0.5% Missouri 740 $6,793,511 1.3% Montana 98 $812,370 0.2% Nebraska 288 $2,594,049 0.5% Nevada 206 $3,354,123 0.7% New Hampshire 186 $1,794,394 0.4% New Jersey 963 $11,327,981 2.3% New Mexico 172 $1,688,053 0.3% New York 3,226 $29,490,998 5.9% North Carolina 886 $9,244,230 1.8% North Dakota 65 $612,542 0.1% Ohio 3,530 $32,392,307 6.4% Oklahoma 850 $8,012,347 1.6% Oregon 436 $4,796,691 1.0% Pennsylvania 5,135 $42,747,309 8.5% Rhode Island 102 $917,522 0.2% South Carolina 456 $4,648,851 0.9% South Dakota 73 $661,713 0.1% Tennessee 564 $5,861,499 1.2% Texas 5,205 $54,592,501 10.8% S-40
Utah 208 $2,599,181 0.5% Vermont 57 $616,062 0.1% Virginia 1,223 $12,014,743 2.4% Washington 838 $8,862,836 1.8% West Virginia 406 $3,906,608 0.8% Wisconsin 1,338 $10,585,824 2.1% Wyoming 84 $1,100,591 0.2% Other 125 $1,878,945 0.4% Total 50,160 $503,446,069 100.0% Distribution of the Trust Student Loans by Servicer (as of April 30, 2004) Percentage of Trust Student Servicer Number of Loans Outstanding Principal Balance Loans by Outstanding Principal Balance PHEAA 48,216 $486,999,767 96.7% Others 1,944 $16,446,302 3.3% Total 50,160 $503,446,069 100.0% S-41
- Page 1 and 2: LISTING SUPPLEMENT $189,000,000 Cla
- Page 3 and 4: The Indenture Trustee will represen
- Page 5 and 6: DIRECTORY UNDERWRITERS UBS Securiti
- Page 7: PROSPECTUS SUPPLEMENT (To Prospectu
- Page 10 and 11: THE INFORMATION IN THIS PROSPECTUS
- Page 12 and 13: the transfer documents with respect
- Page 14 and 15: calculations for the class A-IO-1 n
- Page 16 and 17: • First, from amounts on deposit
- Page 18 and 19: Final Maturity Dates The unpaid pri
- Page 20 and 21: Amounts in the reserve account in e
- Page 22 and 23: Poor’s Ratings Services, a divisi
- Page 24 and 25: loans after each transfer of additi
- Page 26 and 27: Sequential payment of the class A n
- Page 28 and 29: If the loans were marketed or servi
- Page 30 and 31: Failures by borrowers to pay timely
- Page 32 and 33: FORMATION OF THE TRUST The National
- Page 34 and 35: THE SELLERS Set forth below is a ch
- Page 36 and 37: It is a student loan guarantor, not
- Page 38 and 39: Loan Loss Reserve. TERI’s loan lo
- Page 40 and 41: Guaranty Volume. TERI is one of the
- Page 42 and 43: egarding the distribution of the tr
- Page 44 and 45: Outstanding Principal Balance Perce
- Page 46 and 47: Distribution of the Trust Student L
- Page 48 and 49: Cosigned Loans Percentage of Trust
- Page 52 and 53: TERI GUARANTY AGREEMENTS AND TERI S
- Page 54 and 55: However, for the initial interest p
- Page 56 and 57: Unless an event of default occurs,
- Page 58 and 59: $114,130,609. The amount on deposit
- Page 60 and 61: Distributions and Payments Distribu
- Page 62 and 63: (13) Pro rata: any unreimbursed adv
- Page 64 and 65: On each quarterly distribution date
- Page 66 and 67: ERISA CONSIDERATIONS The Employee R
- Page 68 and 69: • Whether under the general fiduc
- Page 70 and 71: otherwise in circumstances which ha
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- Page 74 and 75: “Collection Period” means, with
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- Page 80 and 81: PricewaterhouseCoopers LLP One Inte
- Page 82 and 83: The Education Resources Institute,
- Page 84 and 85: The Education Resources Institute,
- Page 86 and 87: The Education Resources Institute,
- Page 88 and 89: The Education Resources Institute,
- Page 90 and 91: The Education Resources Institute,
- Page 92 and 93: The Education Resources Institute,
- Page 94 and 95: The Education Resources Institute,
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The Education Resources Institute,
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IMPORTANT NOTICE ABOUT INFORMATION
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Interest distributions with disprop
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the student loan purchase agreement
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FORMATION OF THE TRUSTS The Trusts
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There can be no assurance that the
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Graduate credit-ready; Continuing e
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For credit-worthy programs only, to
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The composition of the pool; The di
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demands of any person, and the sell
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liquidator for itself or all or a s
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Fixed Rate Notes Each class of fixe
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Overcollateralization; Letters of c
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(a) Assumptions: (i) Denominations
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All necessary trust action for the
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However, the amount of principal re
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With respect to the trust, none of
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(j) For the first quarterly distrib
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changes in prevailing interest rate
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trust, or the indenture trustee. Di
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Luxembourg participants or Euroclea
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and clear of the lien of any third
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Tax Characterization of the Notes U
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of the stated redemption price of t
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the gain, or increase the loss, oth
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disposition of a note by a Non-U.S.
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Prohibited Transaction Class Exempt
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The underwriters will agree, subjec
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Secondary Market Trading Since the
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Borrowing through Clearstream, Luxe
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