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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20559
 FORM 10-K (Mark One) ý
    
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
 For the fiscal year ended
    
    December 31, 2004
 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: 333-114367-02 KEYCORP STUDENT LOAN TRUST 2004-A (Exact name of registrant as specified in its charter)
 Delaware
    
    73-6354842State or other jurisdiction
    
    (I.R.S. employerof incorporation or organization
    
    identification no.)c/o KeyBank, National Association, as Administrator, Attn: Cathleen Leanza800 Superior Ave., Cleveland, Ohio
    
    44114(Address of principal executive offices)
    
    (Zip Code)
 Registrants telephone number, including area code:
    
    (216) 828-8852Securities Registered pursuant to Section 12(b) of the Act:
    
    NoneSecurities 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 13 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. Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule
12(b)-2 of the Act). Yes    No X 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




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TABLE OF CONTENTS  PART IPART IIPART IIIPART IVINDEX OF EXHIBITSEX-31 Certification of the RegistrantEX-99(A) Officer's Certificate - KeyBankEX-99(B) Officer's Certificate - PHEAAEX-99(C) Officer's Certificate - Great Lakes EducationalEX-99(D) Officer's Certificate - KeyBank USAEX-99(E) Officer's Certificate - KeyBank National AssociationEX-99(F) Statement of Compliance - FHEFAEX-99(G) Report of Assertions on ComplianceEX-99(H) Statement of Compliance - Boston    Table of Contents  Page 2 of 26 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 National Association and
said Trust. Accordingly, certain items have been omitted from or modified in this Annual Report on
Form 10-K. (Please note that KeyBank National Association is the successor by merger to Key Bank
USA, National Association.) 
 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), Great Lakes Higher Education Guaranty Corporation
(GLHEC), California Student Aid Commission (CSAC), United
Student Aid Fund (USAF), New York State Higher Education
Services Corporation (NYHESC), Educational Credit Management
Corporation (ECMC),Tennessee Student Assistance Corporation
(TSAC), Texas Guaranteed Student Loan Corporation (TGSLC),
Education Credit Management Corporation (ECMC), Illinois Student
Assistance Commission (ISAC), Kentucky Higher Education
Assistance Authority (KHEAA),Michigan Higher Education
Assistance Agency (MHEAA), 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), each a private guarantor and
are not reinsured by the Department or (iii) are non-guaranteed
and not reinsured by the Department.See Exhibit 31, a Certification of the Registrant, as Key Consumer
Receivables LLC, as Depositor with respect to the activities
during the fiscal year ended December 31, 2004.See Exhibit 99(a), a Certificate of KeyBank National Association, as Master Servicer of
the Registrant with respect to the activities of the Master Servicer during the fiscal
year ended December 31, 2004.See Exhibit 99(b) and 99(f), a Certificate of Pennsylvania Higher Education Assistance
Agency, as Subservicer of the Registrant with respect to the activities of such
Subservicer during the calendar year ended December 31, 2004 and the Independent
Accountants Report of KPMG LLP with respect to the activities of such Subservicer
during the calendar year ended December 31, 2004.




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Page 3 of 26 See Exhibit 99(c) and 99(g), a Certificate of Great Lakes Educational Loan Services, Inc. (Great
Lakes), as Subservicer of the Registrant with respect to the activities of the Subservicer
during the calendar year ended December 31, 2004 and the Independent Accountants Report of
Ernst and Young with respect to the activities of such Subservicer during the calendar year
ended December 31, 2004.See Exhibit 99(d), a Certificate of KeyBank National Association, as Administrator of
the Registrant with respect to the activities of the Administrator during the fiscal
year ended December 31, 2004.See Exhibit 99(e), a Certificate of the Registrant, through JPMorgan Chase Bank, N.A.,
successor in interest to Bank One, National Association, as Eligible Lender Trustee of
the Registrant with respect to the activities of the Registrant during the fiscal year
ended December 31, 2004.See Exhibit 99(h), the Independent Accountants report of KPMG LLP with respect to the
activities of Key Education Resources-Boston during the calendar year ended December 31,
2004.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 Noteholders for a vote during the
fiscal year covered by this Annual Report. Aside from the single
class of $0 principal and 0% interest certificates issued to the
Depositor, which represents its residual interest in the Trusts
assets, the Registrant did not issue any Certificates; it issued
only Floating Rate Asset Backed Notes.
 
 PART II Item 5.
    
    Market for Registrants Common Equity and related Stockholder Matters.Not applicable; Aside from the single class of $0 principal and 0% interest certificates issued to the Depositor,
which represents its residual interest in the Trusts assets, the Registrant did not issue any Certificates; it issued
only Floating Rate Asset Backed Notes.Item 6.
    
    Selected Financial Data.Omitted.Item 7.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations.Omitted.Item 7A.
    
    Quantitative and Qualitative Disclosures About Market Risk.Omitted.




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Page 4 of 26 Item 8.
    
    Financial Statements and Supplementary Data.Omitted.Item 9.
    
    Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.None.Item 9A.
    
    Controls and Procedures.Omitted.Item 9B.
    
    Other Information.None.
 
 PART III Item 10.
    
    Directors and Executive Officers of the Registrant.Omitted.Item 11.
    
    Executive Compensation.Omitted.Item 12.
    
    Security Ownership of Certain Beneficial Owners and Management.Not applicable; Aside from the single class of $0 principal and
0% interest Certificates issued to the Depositor, which
represents its residual interest in the Trusts assets, the
Registrant did not issue any Certificates; it issued only
Floating Rate Asset Backed Notes.Item 13.
    
    Certain Relationships and Related Transactions.Not applicable; Aside from the single class of $0 principal and
0% interest Certificates issued to the Depositor, which
represents its residual interest in the Trusts assets, the
Registrant did not issue any Certificates; it issued only
Floating Rate Asset Backed Notes.Item 14.
    
    Principal Accounting Fees and Services.Omitted.
 
 PART IV Item 15.
    
    Exhibits, Financial Statement Schedules.
(a)(1) Financial Statements     Not
Applicable.(a)(2) Financial Statement Schedules required under Item 15(c) below.     Not
Applicable.




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Page 5 of 26 (a)(3) Exhibits. The following documents are required under Item 601 Regulation
S-K and are filed as part of this Annual Report on Form 10-K. No documents are
required as exhibits hereto under Item 15(c) below.
 Exhibit Number
    
    Description31
    
    Certification of the Registrant99(a)
    
    Master Servicers Compliance Certificate, KeyBank 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 LLP regarding PHEAA.99(g)
    
    Independent Auditors Report of Ernst & Young regarding Great Lakes.99(h)
    
    Independent Accountants Report of KPMG LLP regarding Key Education
Resources-Boston.
 (b) Exhibits Required Under Item 601 of Regulation S-K.Exhibits 31 through 99(h), listed above are filed herewith.(c) Financial Statements required by Regulation S-X but excluded from the Annual
Report to Shareholders.Not Applicable.




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Page 6 of 26 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 31, 2005KeyCorp Student Loan Trust 2004-ABy:
    
    KeyBank National Association,
successor in interest to Key Bank USA,
National Association, as Master Servicer
and Administrator, on behalf of the TrustBy:
    
    /S/DANIEL G. SMITHName:
    
    Daniel G. SmithTitle:
    
    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. Aside from the single class of $0 principal and 0% interest Certificates issued to
the Depositor, which represents its residual interest in the Trusts assets, the Registrant did not
issue any Certificates; it issued only Floating Rate Asset Backed Notes.




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Page 7 of 26 
 INDEX OF EXHIBITS Exhibit Number
    Description
    
    Page31
    
    Certification of the Registrant
    
    
    899(a)
    
    Master Servicer's Compliance Certificate,
    
    
    9Key Bank USA, National Association99(b)
    
    Subservicer's Compliance Certificate
    
    
    10from Pennsylvania Higher Educationagency (PHEAA)99(c)
    
    Subservicer's Compliance Certificate
    
    
    11Great Lakes Educational Loan Services,Inc. (Great Lakes)99(d)
    
    Administrator's Compliance Certificate,
    
    
    12KeyBank National Association99(e)
    
    Issuer's Compliance Certificate
    
    
    1399(f)
    
    Independent Accountants Report of
    
    
    14KPMG LLP regarding PHEAA99(g)
    
    Independent Auditors Report of Ernst &
    
    
    20Young regarding Great Lakes.99(h)
    
    Independent Accountants Report of
    
    
    24KPMG LLP regarding Key EducationResources-Boston.