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                                                                   Page 14 of 25

                                                                   EXHIBIT 99(f)

[KPMG LOGO]

One Cleveland Center
1375 E. Ninth Street
Cleveland, OH 44114-1796


                         INDEPENDENT ACCOUNTANTS' REPORT

Bank One, National Association
as Eligible Lender Trustee


We have examined Pennsylvania Higher Education Assistance Agency's (Servicer)
assertions with respect to Sections 3.03, 3.04, 4.01, 4.02, 4.03, 4.08, 5.02,
and 5.03 of the Sale and Servicing Agreement dated September 1, 1999, about the
Servicer's compliance with the servicing of the KeyCorp Student Loan Trust
1999-B student loans as of December 31, 2002, and for the year then ended, as
indicated in the accompanying Statement of Compliance with Specifically
Identified Requirements. The Servicer is responsible for the Servicer's
compliance with those requirements. Our responsibility is to express an opinion
on the Servicer's assertions about compliance based on our examination.


Our examination was made in accordance with attestation standards established by
the American Institute of Certified Public Accountants and, accordingly,
included examining, on a test basis, evidence about the Servicer's compliance
with those requirements and performing such other procedures as we considered
necessary in the circumstances. We believe that our examination provides a
reasonable basis for our opinion. Our examination does not provide a legal
determination on the Servicer's compliance with attestation specified
requirements.

In our opinion, the Servicer's assertions with respect to Sections 3.03, 3.04,
4.01, 4.02, 4.03, 4.08, 5.02, and 5.03 of the Sale and Servicing Agreement dated
September 1, 1999, included in the accompanying Statement of Compliance with
Specifically Identified Requirements as of December 31, 2002, and for the year
then ended, are fairly stated in all material respects.

This report is intended solely for the information and use of Pennsylvania
Higher Education Assistance Agency, Key Bank USA, National Association, Bank
One, National Association, and Deutsche Bank Trust Company Americas (formerly
known as Bankers Trust Company) and is not intended to be and should not be used
by anyone other than these specified parties.



                                                        /s/ KPMG LLP

February 28, 2003





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                                                                   Page 15 of 25


                 PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY

        Statement of Compliance with Specifically Identified Requirements


Pennsylvania Higher Education Assistance Agency (PHEAA) has complied with the
specifically identified servicing requirements for the KeyCorp Student Loan
Trust 1999-B, with respect to Sections 3.03, 3.04, 4.01, 4.02, 4.03, 4.08, 5.02,
and 5.03 of the Sale and Servicing Agreement dated September 1, 1999 (the
Agreement), relating to the student loans that are guaranteed as to payment of
principal and interest by PHEAA or the American Student Assistance Corporation
(ASA) and are reinsured by the Department of Education (Financed Federal Loans),
and student loans guaranteed as to payment of principal and interest by The
Education Resources Institute, Inc. (TERI) and not reinsured by the Department
of Education (Financed Private Loans).

I.   COMPLIANCE

     1.   FINANCED FEDERAL LOANS

          A.   Compliance with the aforementioned Sections of the Agreement
               relating to the Financed Federal Loans is limited to the
               following federal regulations as published in their entirety in
               the December 18, 1992 Federal Register, Part II, Department of
               Education, 34 Code of Federal Regulations (CFR), Federal Family
               Education Loan Program: Final Regulations.

               We have complied with the following federal regulations for the
               Financed Federal Loans as of December 31, 2002 and for the year
               then ended:

               -    34 CFR 682.202, "Permissible Charges by Lenders to
                    Borrowers"; all parts except for (a)(2), (b)(5), (c)-(e),
                    and (g).

               -    34 CFR 682.208, "Due Diligence in Servicing a Loan"; all
                    parts except for (b)(1)(i)-(ii), (b)(1)(v), (b)(2), and
                    (c)-(f).

               -    34 CFR 682.209, "Repayment of a Loan"; all parts except for
                    (a)(2)(i), (a)(4), (b), (d), (f), (g), (i), and (j).

               -    34 CFR 682.210, "Deferment"; all parts except for (a)(9) and
                    (b)(6).

               -    34 CFR 682.211, "Forbearances"; all parts except for (a)(3)
                    and (d).

               -    34 CFR 682.213, "Prohibition Against the Use of the Rule of
                    78s."

               -    34 CFR 682.300, "Payment of Interest Benefits on Stafford
                    Loans."

               -    34 CFR 682.301, "Eligibility of Borrowers for Interest
                    Benefits on Stafford Loans"; all parts except for (a) and
                    (c).

               -    34 CFR 682.302, "Payment of Special Allowance on FFEL
                    Loans"; all parts except for (c)(2), (c)(3), (d), and (e).

               -    34 CFR 682.304, "Methods for Computing Interest Benefit and
                    Special Allowance"; all parts except for (a), (b), and
                    (d)(2).

               -    34 CFR 682.305, "Procedures for Payment of Interest Benefit
                    and Special Allowance"; all parts except for (a)(2)-(4),
                    (b), and (c).

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                                                                   Page 16 of 25


                 PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY

        Statement of Compliance with Specifically Identified Requirements


               -    34 CFR 682.402, "Death, Disability and Bankruptcy Payments";
                    all parts except for (e), (g), and (i)-(k).

               -    34 CFR 682.411, "Due Diligence by Lenders in the Collection
                    of Guaranty Agency Loans"; all parts except for (f), (i),
                    (j), (m), and (n).

               -    34 CFR 682.414, "Records, Reports, and Inspection
                    Requirements for Guaranty Agency Programs"; all parts except
                    for (a)(1), (a)(2), (a)(3), (b), and (c).

          B.   Compliance with the aforementioned Sections of the Agreement
               relating to the Financed Federal Loans is limited to the
               following federal regulations as published in their entirety in
               the December 1, 1995 Federal Register, Part III, Department of
               Education, 34 Code of Federal Regulations (CFR), Federal Family
               Education Loan Program: Final Rule.

               We have complied with the following federal regulations for the
               Financed Federal Loans as of December 31, 2002 and for the year
               then ended:

               -    34 CFR 682.209, "Repayment of a Loan"; Part (b).

          C.   Compliance with the aforementioned Sections of the Agreement
               relating to the Financed Federal Loans is limited to the
               following federal regulations as published in their entirety in
               the October 29, 2000 Federal Register, Part V, Department of
               Education, 34 Code of Federal Regulations (CFR), Federal Family
               Education Loan Program: Final Rule.

               We have complied with the following federal regulations for the
               Financed Federal Loans as of December 31, 2002 and for the year
               then ended:

               -    34 CFR 682.411, "Lender Due Diligence in Collecting Guaranty
                    Agency Loans"; Part (f).

          D.   Compliance with the aforementioned Sections of the Agreement
               relating to the Financed Federal Loans is limited to the
               following federal regulations as published in their entirety in
               the July 27, 2000 Federal Register, Part V, Department of
               Education, 34 Code of Federal Regulations (CFR), Federal Family
               Education Loan Program: Final Rule.

               We have complied with the following federal regulations for the
               Financed Federal Loans as of December 31, 2002 and for the year
               then ended:

               -    34 CFR 682.411, "Lender Due Diligence in Collecting Guaranty
                    Agency Loans"; Part (i).

     2.   FINANCED PRIVATE LOANS

          A.   Compliance with the aforementioned sections of the Agreement
               relating to the Financed Private Loans is limited to the
               following requirements contained in the Access Loan Programs
               Servicing Agreement between Pennsylvania Higher Education
               Assistance Agency and Society National Bank dated March 23, 1995.



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                                                                   Page 17 of 25


                 PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY

        Statement of Compliance with Specifically Identified Requirements


               We have complied with the following sections of the Agreement
               relating to the Financed Private Loans as of December 31, 2002
               and for the year then ended:

               I.   "Account Servicing, Document Storage"

               II.  "Delinquency Servicing"

               IV.  "Deferment and Forbearance Processing"

               VI.  "Filing Claims"

          B.   Compliance with the aforementioned sections of the Agreement
               relating to the Financed Private Loans is limited to the
               following requirements contained in the 2000 Servicing Guidelines
               for TERI , effective December 1, 2000.

               We have complied with the revised delinquency servicing
               requirements for TERI guaranteed Financed Private Loans as of
               December 31, 2002 and for the year then ended.

II.  NONCOMPLIANCE

     1.   FINANCED FEDERAL LOANS

          No items noted.

     2.   FINANCED PRIVATE LOANS

          No items noted as of December 31, 2002 and for the year then ended;
          however, during procedures performed, KPMG noted noncompliance after
          December 31, 2002 as noted below:

          I.   "Account Servicing, Document Storage" which states "Without
               limiting the generality of the foregoing or of any other
               provision set forth in the Agreement and notwithstanding any
               other provision to the contrary set forth herein, the Subservicer
               shall manage, service, administer and make collections with
               respect to the Financed Student Loans (other than collection of
               any Interest Subsidy Payments and Special Allowance Payments,
               which the Eligible Lender Trustee will perform on behalf of the
               Trust) in accordance with, and otherwise comply with, all
               applicable Federal and State laws, including all applicable
               standards, guidelines and requirements of the Higher Education
               Act (in the case of any Financed Federal Loans) and any Guarantee
               Agreement (in the case of all the Financed Student Loans)"

          The interest rate on Residency Access Loan (REL) loans was incorrectly
          stated at 4 .607% for the period of January 1, 2003 through February
          21, 2003. The correct interest rate should have been 3.957%.

     PHEAA'S RESPONSE

     A corrective action was implemented immediately to require enhanced quality
     assurance by the Graduate Services staff. The compensating control now
     requires a primary and secondary review and sign off by the originating
     department.


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                                                         Page 18 of 25


                 PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY

        Statement of Compliance with Specifically Identified Requirements


In addition, an inquiry identified REL loans that contained this error and all
impacted accounts were corrected as of February 21, 2003 by updating the
Interest Rate Loan Program Definition Table. Verification of the change was
provided to KPMG for report purposes. The inquiry identified all REL loans with
outstanding balances that were in repayment, which resulted in 1.86% of the
Trust being impacted by this error prior to correction.


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