SCHEDULE 1
														Sheet 1
SOUTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY
ENTERPRISE FUND
BALANCE SHEET BY ACCOUNTS
JUNE 30, 1999
		Required by Bond Indentures						Guarantee		Federal Student		Inter-
		Sinking		Debt Reserve		Loan		Agency Operating		Loan Reserve		Account
ASSETS		Account		Account		Account		Account		Account		Eliminations		Total
Current Assets:
Cash and Cash Equivalents:
Deposits Underinvested (Overinvested)	$	(279,296)	$		$	(95,898)	$		$	502,662	$		$	127,468
Investments		20,945,726				68,542,930		1,641,289		15,732,370				106,862,315
Cash and Cash Equivalents - Restricted:
Deposits Underinvested (Overinvested)				3,190,000										3,190,000
Investments				19,901,843										19,901,843
Prepaid Expense						255,367								255,367
Receivables:
Current Portion of Finance Loans						69,543,309								69,543,309
Current Portion of Student Loans - FISL		3,525												3,525
Due from South Carolina Student Loan Corporation		6,469,818												6,469,818
Accrued Interest Receivable		716,044				8,008		11,262		195,845				931,159
Federal Reinsurance Receivable										3,376,848				3,376,848
Loan Processing and Issuance Fee Receivable								150,040						150,040
Default Aversion Fee Receivable								1,479,043						1,479,043
Due from Other Funds		39,954				347,352						(387,306)
Miscellaneous		6,265				83,878								90,143
Total Current Assets	$	27,902,036	$	23,091,843	$	138,684,946	$	3,281,634	$	19,807,725	$	(387,306)	$	212,380,878
Long-Term and Other Assets:
Receivables:
Finance Loans, Less Current Portion	$		$		$	291,995,886	$		$		$		$	291,995,886
Student Loans - FISL, Less Current Portion		9,911												9,911
Deferred Cost of Issuance of Bonds						1,058,976								1,058,976
Investments										2,732,086				2,732,086
Restricted Assets:
Investments				16,652,949										16,652,949
Total Long-Term and Other Assets	$	9,911	$	16,652,949	$	293,054,862	$          -	-	$	2,732,086	$	-	$	312,449,808
Property, Plant & Equipment:
Furniture and Equipment	$		$		$		$	24,105	$	238,840	$		$	262,945
Automobile										13,100				13,100
Less: Accumulated Depreciation										(45,327)				(45,327)
Total Property, Plant & Equipment	$		$	-	$	-	$	24,105	$	206,613	$	-	$	230,718
Total Assets	$	27,911,947	$	39,744,792	$	431,739,808	$	3,305,739	$	22,746,424	$	(387,306)	$	525,061,404
														SCHEDULE 1
														Sheet 2
SOUTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY
ENTERPRISE FUND
BALANCE SHEET BY ACCOUNTS
JUNE 30, 1999
		Required by Bond Indentures						Guarantee		Federal Student		Inter
		Sinking		Debt Reserve		Loan		Agency Operating		Loan Reserve		Account
LIABILITIES AND FUND EQUITY		Account		Account		Account		Account		Account		Eliminations		Total
Current Liabilities:
Accounts Payable	$	14,127	$		$	122,096	$		$		$		$	136,223
Arbitrage Rebate Payable to Federal Government				946,500										946,500
Compensated Absences						74,955								74,955
Due to South Carolina Student Loan Corporation		8,621,305						83,879		307				8,705,491
Due to Other Funds								387,306				(387,306)
Default Aversion Fees Payable										1,479,043				1,479,043
Payable from Restricted Assets:
Current Maturities of Bonds Payable				9,770,000										9,770,000
Accrued Bond Interest Payable				5,130,246										5,130,246
Total Current Liabilities	$	8,635,432	$	15,846,746	$	197,051	$	471,185	$	1,479,350	$	(387,306)	$	26,242,458
Bonds Payable, Less Current Maturities, Deferred
Amount of Debt Refunding and Bond Premiums and
Discounts	$	375,677,680	$	-	$	-	$	-	$	-	$	-	$	375,677,680
Total Liabilities	$	384,313,112	$	15,846,746	$	197,051	$	471,185	$	1,479,350	$	(387,306)	$	401,920,138
Fund Equity:
Retained Earnings:
Reserved for Bond Indentures - Current Debt Service -
1979 Resolution	$		$	1,230,297	$		$		$		$		$	1,230,297
Reserved for Bond Indentures - Current Debt Service -
1993 Resolution				11,942,806										11,942,806
Reserved for Bond Indentures - 1979 Resolution		(50,619,395)		10,723,001		47,904,420								8,008,026
Reserved for Bond Indentures - 1993 Resolution		(305,781,770)		1,942		382,831,395								77,051,567
Unreserved						806,942		2,834,554		21,267,074				24,908,570
Total Fund Equity (Deficit)	$	(356,401,165)	$	23,898,046	$	431,542,757	$	2,834,554	$	21,267,074	$	-	$	123,141,266
Total Liabilities and Fund Equity	$	27,911,947	$	39,744,792	$	431,739,808	$	3,305,739	$	22,746,424	$	(387,306)	$	525,061,404