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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20659

                                    FORM 10-K

                  FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO
           SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

(MARK ONE)

   [X]    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2001

                                       OR

   [ ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

For the transition period from                  to                .
                               --------------      ---------------


                      Commission File Number: 333-80109-01


                        KEYCORP STUDENT LOAN TRUST 1999-B
             ------------------------------------------------------
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


            DELAWARE                                     36-4318790
---------------------------------            -----------------------------------
  STATE OR OTHER JURISDICTION                        (I.R.S. EMPLOYER
OF INCORPORATION OR ORGANIZATION                    IDENTIFICATION NO.)


  C/O KEY BANK USA, NATIONAL ASSOCIATION, AS ADMINISTRATOR, 800 SUPERIOR AVE.,
  ----------------------------------------------------------------------------
 ATTN: DEBRA FRONIUS, CLEVELAND, OHIO                        44114
----------------------------------------     -----------------------------------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                  (ZIP CODE)

Registrant's telephone number, including area code: (216) 828-9353
                                                    ----------------------------

Securities Registered pursuant to Section 12(b) of the Act:         None
                                                            --------------------

Securities Registered pursuant to Section 12(g) of the Act:         None
                                                            --------------------

     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 12 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

Yes   X     No
     ---       ---

     The registrant has no officer, director or beneficial owner of more than
10% of equity securities to whom Section 16(a) of the Act applies and
consequently Item 405 of Regulation S-K does not apply.

         The registrant does not have any voting stock, has not been involved in
bankruptcy proceedings during the past five years and is not a corporate
registrant.

         No documents are incorporated by reference into this Form 10-K.
                             Exhibit Index on Page 7
                               Page 1 of 20 Pages


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                                                                    Page 2 of 20


     This Annual Report on Form 10-K is filed in reliance upon certain no action
letters, including a letter dated May 9, 1997, issued by the Chief Counsel,
Division of Corporate Finance of the Securities and Exchange Commission relating
to the KeyCorp Student Loan Trust 1996-A, Registration No. 333-4274, stating
that the Division will not object if the Registrant files reports pursuant to
Sections 13 and 15(d) of the Securities Exchange Act in the manner described in
a letter dated April 28, 1997, to the Office of Chief Counsel on behalf of Key
Bank USA and said Trust. Accordingly, certain items have been omitted from or
modified in this Annual Report on Form 10-K.

                                     PART I

Item 1.  Business.

         Omitted.

Item 2.  Properties.

         The property of the Registrant consists solely of student loans that
         are either (i) guaranteed as to the payment of principal and interest
         by the Pennsylvania Higher Education Assistance Agency ("PHEAA"),
         Nebraska Student Loan Program ("NSLP"), California Student Aid
         Commission ("CSAC"), United Student Aid Fund ("USAF"), New York State
         Higher Education Services Corporation ("HESC"), Educational Credit
         Management Corporation ("ECMC"), Great Lakes Higher Education Guaranty
         Corporation ("GLHEC") or the Massachusetts Higher Education Assistance
         Corporation now doing business as American Student Assistance ("ASA"),
         and are reinsured by the United States Department of Education (the
         "Department") or (ii) guaranteed as to the payment of principal and
         interest by The Education Resources Institute, Inc., ("TERI") or HEMAR
         Insurance Corporation of America ("HICA"), each a private guarantor and
         are not reinsured by the Department or (iii) are non-guaranteed and not
         reinsured by the Department.

         See Exhibit 99(a), a Certificate of Key Bank USA, National Association,
         as Master Servicer of the Registrant with respect to the activities of
         the Master Servicer during the fiscal year ended December 31, 2001.

         See Exhibits 99(b) and 99(f), a Certificate of Pennsylvania Higher
         Education Assistance Agency, as Subservicer of the Registrant, and the
         Independent Accountant's Report of KPMG Peat Marwick with respect to
         the activities of such Subservicer during the calendar year ended
         December 31, 2001.

         See Exhibits 99(c) and 99(g), a Certificate of Great Lakes Educational
         Loan Services, Inc. ("Great Lakes"), as Subservicer of the Registrant ,
         and the Independent Accountant's Report of Ernst & Young with respect
         to the activities of such Subservicer during the calendar year ended
         December 31, 2001.

         See Exhibits 99(d) and 99(h), a Certificate of KeyBank USA, National
         Association, as Administrator of the Registrant, and the Independent
         Auditor's Report of Ernst & Young with respect to the activities of the
         Administrator during the fiscal year ended December 31, 2001.

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                                                                    Page 3 of 20


         See Exhibit 99(e), a Certificate of the Registrant, through Bank One,
         National Association, as Eligible Lender Trustee of the Registrant with
         respect to the activities of the Registrant as Issuer during the fiscal
         year ended December 31, 2001.

Item 3.  Legal Proceedings.

         The Registrant knows of no material pending legal proceedings involving
         the Registrant or its property.

Item 4.  Submission of Matters to a Vote of Security Holders.

         No matters were submitted to Certificateholders or Noteholders for a
         vote during the fiscal year covered by this Annual Report.

                                     PART II

Item 5.  Market for Registrant's Common Equity and related Stockholder Matters.

         At December 31, 2001, there were two (2) registered holders of the
         Registrant's Floating Rate Asset Backed Certificates ("Certificates")
         (i) Key Bank USA, National Association and (ii) CEDE & Co., as nominee
         of The Depository Trust Company ("DTC"). At December 31, 2001, there
         were three (3) persons registered on the books of DTC as record owner
         of Certificates. There is no established public market in which the
         Certificates are traded.

Item 6.  Selected Financial Data.

         Omitted.

Item 7.  Management's Discussion and Analysis of Financial Condition and
         Results of Operations.

         Omitted.

Item 8.  Financial Statements and Supplementary Data.

         Omitted.

Item 9.  Changes in and Disagreements with Accountants on Accounting and
         Financial Disclosure.

         None.

                                    PART III

Item 10. Directors and Executive Officers of the Registrant.

         Omitted.


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Item 11. Executive Compensation.

         Omitted.

Item 12. Security Ownership of Certain Beneficial Owners and Management.

         As of December 31, 2001, the Certificates were registered in the name
         of (i) Key Bank USA, National Association and (ii) CEDE & Co., as
         nominee of DTC. As of December 29, 2001, the books of DTC indicate that
         the two (2) DTC participant institution listed below was the record
         owner of in excess of five percent (5%) of the Certificates issued by
         the Registrant. Only such participant, however, knows the identity of
         the beneficial owners of interests in such Certificates.

<TABLE>
<CAPTION>
                               Name and Address of                  Amount and Nature of
Title of Class                 Beneficial Owner                     Beneficial Ownership     Percent of Class
--------------                 -------------------------------      --------------------     ----------------
<S>                            <C>                                  <C>                      <C>
Floating Rate Asset            Bankers Trust Company                $48,350,000. Principal         74.4
Backed Certificates            Attn:  John Lasher                   amount of Certificates
                               648 Grassmere Park Road
                               Nashville, TN 37211

                               JP Morgan Chase Bank                 $16,000,000. Principal         24.6
                               Attn:  Paula J. Dabner               amount of Certificates
                               c/o JP Morgan Investor Services
                               Dallas, Texas 75254
</TABLE>

Item 13. Certain Relationships and Related Transactions.

         Omitted.

                                     PART IV

Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K.


         (a)(1) Financial Statements

             Not Applicable.

         (a)(2) Financial Statement Schedules

             Not Applicable.

         (b) Reports on Form 8-K filed during the last quarter of 2001:

             8-K dated November 27, 2001, reporting under Item 5 thereof, the
             regular quarterly distribution to the holders of the Trust's
             Floating Rate Asset Backed Certificates and Floating Rate Asset
             Backed Notes and the distribution of the Certificateholder's
             Statement and Noteholder's Statement.


         (c) Exhibits. The following documents are filed as part of this Annual
             Report on Form 10-K.

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<TABLE>
<CAPTION>
EXHIBIT NUMBER                                          DESCRIPTION
--------------                                          -----------
<S>                <C>
    99(a)          Master Servicer's Compliance Certificate, Key Bank USA, National Association.

    99(b)          Subservicer's Compliance Certificate from Pennsylvania Higher Education Assistance
                   Agency ("PHEAA").

    99(c)          Subservicer's Compliance Certificate from Great Lakes Educational Loan Services,
                   Inc. ("Great Lakes").

    99(d)          Administrator's Compliance Certificate.

    99(e)          Issuer's Compliance Certificate.

    99(f)          Independent Accountant's Report of KPMG Peat Marwick regarding PHEAA

    99(g)          Independent Accountant's Report of Ernst & Young regarding Great Lakes.

    99(h)          Independent Auditor's Report of Ernst & Young.
</TABLE>


Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf of the undersigned, thereunto duly authorized.


Date: March 28, 2002
                                  KEYCORP STUDENT LOAN TRUST 1999-B


                                  BY: BANK ONE, NATIONAL ASSOCIATION, NOT IN
                                  ITS INDIVIDUAL CAPACITY BUT SOLELY AS
                                  ELIGIBLE LENDER TRUSTEE ON BEHALF OF THE TRUST

                                  By:            /S/ JEFFREY L. KINNEY
                                     -------------------------------------------

                                  Name:            Jeffrey L. Kinney
                                       -----------------------------------------

                                  Title:             Vice President
                                        ----------------------------------------



SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION
15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO
SECTION 12 OF THE ACT.


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No annual report, proxy statement, form of proxy or other proxy soliciting
material has been sent to Certificateholders during the period covered by this
Annual Report on Form 10-K and the Registrant does not intend to furnish such
materials to Certificateholders subsequent to the filing of this report.


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                                INDEX OF EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT NUMBER                            DESCRIPTION                                PAGE
--------------                            -----------                                ----
<S>                     <C>                                                          <C>
    99(a)                   Master Servicer's Compliance Certificate                   8

    99(b)                  Subservicer's Compliance Certificate PHEAA                  9

    99(c)               Subservicer's Compliance Certificate Great Lakes              10

    99(d)                    Administrator's Compliance Certificate                   11

    99(e)                       Issuer's Compliance Certificate                       12

    99(f)                 Independent Accountant's Report of KPMG Peat                13
                                    Marwick regarding PHEAA

    99(g)               Independent Accountant's Report of Ernst & Young              18
                                     regarding Great Lakes

    99(h)                Independent Auditor's Report of Ernst & Young                20
</TABLE>