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                                                                    Page 1 of 18

                       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, 2003

                                       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: 333-58073-01

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

           NEW YORK                                               36-7238740
---------------------------------                            -------------------
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 8

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                                                                    Page 2 of 18

         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"), the Educational Credit Management Corporation ("ECMC"),
              the Nebraska Student Loan Program ("NSLP") 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 not
              reinsured by the Department.

              See Exhibit 99(a) and 99(d), a Certificate of Pennsylvania Higher
              Education Assistance Agency ("PHEAA"), as Servicer of the
              Registrant and the Independent Accountant's Report of KPMG LLP
              with respect to the activities of PHEAA during the calandar year
              ended December 31, 2003.

              See Exhibits 99(b) and 99(e), a Certificate of Key Bank 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, 2003.

              See Exhibit 99(c), a Certificate of the Registrant through
              JPMorgan Chase Bank, as successor in interest to Bank One,
              National Association, as Eligble Lender Trustee of the Registrant
              with respect to the activities of the Registrant as Issuer during
              the fiscal year ended December 31, 2003.

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                                                                    Page 3 of 18

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, 2003, 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, 2003, there were four (4)
              persons registered on the books of DTC as record owners 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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                                                                    Page 4 of 18

Item 11.      Executive Compensation.

              Omitted.

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

              As of December 31, 2003, 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 31, 2003, the books of DTC
              indicate that the three (3) DTC participant institutions listed
              below are record owners of in excess of five percent (5%) of the
              Certificates issued by the Registrant. Only such participants,
              however, know 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
Backed Certificates  Citibank, NA                $ 8,000,000. Principal      23.12
                     David A. Leslie             amount of Certificates
                     3800 Citibank Center B3-15
                     Tampa FL 33610

                     Wells Fargo Bank            $ 3,000,000. Principal       8.67
                     Minnesota, NA               amount of Certificates
                     Issuer Services
                     c/o ADP Proxy Services
                     51 Mercedes Way
                     Edgewood NY 11717

                     Mellon Trust of New         $23,167,000. Principal      66.96
                     England, National           amount of Certificates
                     Association
                     Attn Melissa Tarasovich
                     525 William Penn Place,
                     Suite 3410
                     Pittsburgh PA 15259
</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.

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                                                                    Page 5 of 18

              (b) Reports on Form 8-K filed during the last quarter of 2003:

              8-K dated December 29, 2003, reporting under Item 5 thereof, the
              regularly 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.

<TABLE>
<CAPTION>
EXHIBIT NUMBER                            DESCRIPTION
<S>               <C>
    99(a)         Servicer's Compliance Certificate from Pennsylvania Higher
                  Education Assistance Agency (PHEAA).

    99(b)         Administrator's Compliance Certificate.

    99(c)         Issuer's Compliance Certificate.

    99(d)         Independent Accountant's Report of KPMG LLP regarding PHEAA.

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

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                                                                    Page 6 of 18

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 19, 2004

                                         KEYCORP STUDENT LOAN TRUST 1999-A

                                         BY: KEY BANK USA, NATIONAL ASSOCIATION,
                                         AS ADMINISTRATOR

                                         By: /S/ DARLENE H. DIMITRIJEVS
                                             --------------------------
                                         Name:   Darlene H. Dimitrijevs

                                         Title:  Senior 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.

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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                                                                    Page 7 of 18

                        KEYCORP STUDENT LOAN TRUST 1999-A
                                  CERTIFICATION

I, Darlene H. Dimitrijevs, hereby certify that I am a Senior Vice President of
Key Bank USA, National Association, the Master Servicer and Administrator of
KeyCorp Student Loan Trust 1999-A and as such, I certify that:

     1.   I have reviewed this annual report on Form 10-K, and all reports on
          Form 8-K containing distribution or servicing reports filed in respect
          of periods included in the year covered by this annual report, of
          KeyCorp Student Loan Trust 1999-A (the "Trust");

     2.   Based on my knowledge, the information in these reports, taken as a
          whole, does not contain any untrue statement of a material fact or
          omit to state a material fact necessary to make the statements made,
          in light of the circumstances under which such statements were made,
          not misleading as of the last day of the period covered by this annual
          report;

     3.   Based on my knowledge, the distribution or servicing information
          required to be provided to the Eligible Lender Trustee and the
          Indenture Trustee by the Administrator under the related Sale and
          Servicing Agreement, or similar agreement, for inclusion in these
          reports is included in these reports;

     4.   I am responsible for reviewing the activities performed by the Master
          Servicer under the related Sale and Servicing Agreement, or similar
          agreement, and based upon my knowledge and the annual compliance
          review required under that agreement, and except as disclosed in the
          reports, the Master Servicer has fulfilled its obligations under that
          agreement; and

     5.   The reports disclose all significant deficiencies relating to the
          Master Servicer's compliance with the minimum servicing standards
          based upon the report provided by an independent public accountant,
          after conducting a review in compliance with the Uniform Single
          Attestation Program for Mortgage Bankers or similar procedure, as set
          forth in the related Sale and Servicing Agreement, or similar
          agreement, that is included in these reports.

In giving the certification above, I have reasonably relied on information
provided to me by the following unaffiliated parties: Pennsylvania Higher
Education Assistance Agency, JPMorgan Chase Bank as successor in interest to
Bank One National Association (formerly known as The First National Bank of
Chicago), as Eligible Lender Trustee, and Deutsche Bank Trust Company Americas
(formerly known as Bankers Trust Company) as Indenture Trustee.

Date: February 19, 2004                  /S/ DARLENE H. DIMITRIJEVS
                                         --------------------------
                                         Darlene H. Dimitrijevs
                                         Senior Vice President
                                         Key Bank USA, National Association

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                                                                    Page 8 of 18

                                INDEX OF EXHIBITS

<TABLE>
<CAPTION>
EXHIBIT NUMBER                  DESCRIPTION                   PAGE
<S>             <C>                                           <C>
    99(a)       Servicer's Compliance Certificate from PHEAA    9

    99(b)       Administrator's Compliance Certificate         10

    99(c)       Issuer's Compliance Certificate                11

    99(d)       Independent Accountant's Report of KPMG LLP    12
                              regarding PHEAA

    99(e)       Independent Auditor's Report of                18
                               Ernst & Young
</TABLE>