8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

   

Date of Report: February 14, 2005

(Date of earliest event reported)

SLC STUDENT LOAN RECEIVABLES I, INC. (as depositor for SLC Student Loan Trust
2004-1 under the Amended and Restated Trust Agreement, dated as of November 23, 2004,
between SLC Student Loan Receivables I, Inc. and Wilmington Trust Company)                 

(Exact name of registrant as specified in its charter)

Delaware	333-118089-01	04-3598719
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

750 Washington Blvd., Stamford, Connecticut	06901
(Address of principal executive office)	(Zip Code)
(203) 975-6923
(Registrants’ Telephone Numbers, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 8.01.      Other Events

See Exhibit 99.1 for the statement distributed to holders of SLC Student Loan Trust-II, Student Loan Asset Backed Notes, Series 2004-1 for the period from November 23, 2004 through January 31, 2005.

ITEM 9.01.      Financial Statements and Exhibits

                   (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K

Exhibit No.	Description
99.1	Statement distributed to holders of SLC
	Student Loan Trust-II, Student Loan Asset
	Backed Notes, Series 2004-1 for the period from
	November 23, 2004 through January 31, 2005.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.

	By:   THE STUDENT LOAN CORPORATION, AS
	SERVICER
Date: February 18, 2005
	By:          /s/ Daniel P. McHugh
	Name:     Daniel P. McHugh
	Title:       Chief Financial Officer

	INDEX TO EXHIBITS
Exhibit No.	Description of Exhibits
99.1	Statement distributed to holders of SLC Student Loan Trust-II,     Student Loan Asset Backed Notes, Series 2004-1 for the period     from November 23, 2004 through January 31, 2005.

EX-99

Exhibit 99.1

I. SLC TRUST 2004-01                 Deal Parameters

		Student Portfolio Characteristics	11/23/2004	Activity	01/31/2005
A	i	Portfolio Balance	$1,462,052,963.26	$18,828,711.15	$1,443,224,252.11
	ii	Interest to be Capitalized	$       4,898,473.58		$       5,014,757.95
	iii	Total Pool	$1,466,951,436.84		$1,448,239,010.06
	iv	Specified Reserve Account Balance	$       3,713,868.00		$       3,608,060.63
	v	Capitalized Interest Account Balance	$       7,302,491.00		$       7,302,491.00
	vi	Total Adjusted Pool	$1,477,967,795.84		$1,459,149,561.69
B	i	Portfolio Balance as a Percent of Original Balance	100.00%		98.71%
	ii	Weighted Average Coupon (WAC)	4.255%		4.252%
	iii	Weighted Average Remaining Term	229.77		228.63
	iv	Number of Loans	99,239		98,528
	v	Number of Borrowers	57,499		57,097
	vi	Average Outstanding Principal Balance	$1,462,052,963.26		$1,455,910,745.75

		Notes	CUSIP	Spread	Balance 11/23/2004	Pool Factor 11/23/2004	Balance 02/15/2005	Pool Factor 02/15/2005
C	i	A1 Notes	784423AA3	-0.020%	$119,450,000.00	1.0000000000	$102,193,535.63	0.8555339944
	ii	A2 Notes	784423AB1	0.010%	$247,050,000.00	1.0000000000	$247,050,000.00	1.0000000000
	iii	A3 Notes	784423AC9	0.060%	$153,500,000.00	1.0000000000	$153,500,000.00	1.0000000000
	iv	A4 Notes	784423AD7	0.110%	$269,200,000.00	1.0000000000	$269,200,000.00	1.0000000000
	v	A5 Notes	784423AE5	0.130%	$230,800,000.00	1.0000000000	$230,800,000.00	1.0000000000
	vi	A6 Notes	784423AF2	0.160%	$130,000,000.00	1.0000000000	$130,000,000.00	1.0000000000
	vii	A7 Notes	784423AG0	0.230%	$290,980,000.00	1.0000000000	$290,980,000.00	1.0000000000
	viii	B Notes	784423AH8	0.290%	$  44,567,000.00	1.0000000000	$  44,567,000.00	1.0000000000

Total Notes
Parity $1,485,547,000.00
99.49% $1,468,290,535.63
99.38%

		Reserve Account	11/23/2004	Activity	02/15/2005
D	i	Required Reserve Acc Deposit (%)	0.25%		0.25%
	ii	Reserve Acct Initial Deposit ($)	$3,713,868.00	$                   -	$3,713,868.00
	iii	Specified Reserve Acct Balance ($)	$3,713,868.00	$(105,807.37)	$3,608,060.63
	iv	Reserve Account Floor Balance ($)	$2,250,000.00	$                   -	$2,250,000.00
	v	Current Reserve Acct Balance ($)	$3,713,868.00	$(105,807.37)	$3,608,060.63

		Capitalized Interest Account	11/23/2004	Activity	02/15/2005
E	i	Capitalized Interest Account Balance	$7,302,491.00		$7,302,491.00

II. SLC TRUST 2004-01                 Distributions

Interest
Class	CUSIP	Quarterly Interest Due	Quarterly Interest Paid	Interest Shortfall	Interest Carryover Due	Interest Carryover Paid	Interest Carryover	Interest Factor	Rate	Next Rate
A1	784423AA3	$643,657.12	$643,657.12	$      -	$      -	$      -	$      -	0.0053885067	2.30936%	2.77438%
A2	784423AB1	$1,348,524.07	$1,348,524.07	$      -	$      -	$      -	$      -	0.0054585067	2.33936%	2.80438%
A3	784423AC9	$855,789.11	$855,789.11	$      -	$      -	$      -	$      -	0.0055751734	2.38936%	2.85438%
A4	784423AD7	$1,532,243.33	$1,532,243.33	$      -	$      -	$      -	$      -	0.0056918400	2.43936%	2.90438%
A5	784423AE5	$1,324,447.34	$1,324,447.34	$      -	$      -	$      -	$      -	0.0057385067	2.45936%	2.92438%
A6	784423AF2	$755,105.87	$755,105.87	$      -	$      -	$      -	$      -	0.0058085067	2.48936%	2.95438%
A7	784423AG0	$1,737,686.00	$1,737,686.00	$      -	$      -	$      -	$      -	0.0059718400	2.55936%	3.02438%
B	784423AH8	$272,386.37	$272,386.37	$      -	$      -	$      -	$      -	0.0061118399	2.61936%	3.08438%

Total $8,469,839.21 $8,469,839.21 $      - $      - $      - $      -

CURRENT LIBOR    2.329360%
        NEXT LIBOR    2.794380%

Principal
Class	CUSIP	Quarterly Principal Due	Quarterly Principal Paid	Quarterly Principal Shortfall	Principal Factor
A1	784423AA3	$26,397,438.31	$17,256,464.37	$9,140,973.94	0.1444660056
A2	784423AB1	$                     -	$                     -	$                     -	0.0000000000
A3	784423AC9	$                     -	$                     -	$                     -	0.0000000000
A4	754423AD7	$                     -	$                     -	$                     -	0.0000000000
A5	784423AE5	$                     -	$                     -	$                     -	0.0000000000
A6	784423AF2	$                     -	$                     -	$                     -	0.0000000000
A7	784423AG0	$                     -	$                     -	$                     -	0.0000000000
B	784423AH8	$                     -	$                     -	$                     -	0.0000000000

TOTAL $26,397,438.31 $17,256,464.37 $9,140,973.94

III. SLC TRUST 2004-01                  Transactions from: 11/23/2004 through: 01/31/2005

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	20,349,297.09
	ii	Principal Collections from Guarantor	$	269,108.77
	iii	Principal Reimbursements	$	23,113.94
	iv	Other System Adjustments	$	-
	v	Total Principal Collections	$	20,641,519.80
B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	(220,843.13)
	ii	Capitalized Interest	$	(1,591,965.52)
	iii	Total Non-Cash Principal Activity	$	(1,812,808.65)
C	Total Student Loan Principal Activity		$	18,828,711.15
D	Student Loan Interest Activity
	i	Regular Interest Collections	$	8,480,642.70
	ii	Interest Claims Received from Guarantors	$	5,262.77
	iii	Collection Fees/Returned Items	$	-
	iv	Late Fee Reimbursements	$	81,434.23
	v	Interest Reimbursements	$	-
	vi	Other System Adjustments	$	-
	vii	Special Allowance Payments	$	1,000,200.80
	viii	Subsidy Payments	$	541,873.50
	ix	Total Interest Collections	$	10,109,414.00
E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustments	$	(10,638,332.81)
	ii	Government Interest Accrual Adjustments	$	(3,147.520.43)
	iii	Capitalized Interest	$	1,591,965.52
	iv	Total Non-Cash Interest Adjustments	$	(12,193,887.72)
F	Total Student Loan Interest Activity		$	(2,084,473.72)
G	Realized Losses During Collection Period		$	-
H	Cumulative Realized Losses to Date		$	-

IV. SLC TRUST 2004-01                  Collection Account Activity 11/23/2004 through 01/31/2005

A	Principal Collections
	i	Principal Payments Received	$	11,577,666.07
	ii	Principal Collections from Guarantor	$	269,108.77
	iii	Consolidation Principal Payments	$	8,794,744.96
	iv	Reimbursements by Seller	$	-
	v	Borrower Benefits Reimbursements	$	-
	vi	Reimbursements by Servicer	$	-
	vii	Re-purchased Principal	$	-
	viii	Total Principal Collections	$	20,641,519.80
B	Interest Collections
	i	Interest Payments Received	$	9,949,762.02
	ii	Interest Claims Received from Guarantors	$	5,262.77
	iii	Consolidation Interest Payments	$	72,954.98
	iv	Reimbursements by Seller	$	-
	v	Borrower Benefits Reimbursements	$	-
	vi	Reimbursements by Servicer	$	-
	vii	Re-purchased Interest	$	-
	viii	Collection Fees/Returned Items	$	-
	ix	Late Fees	$	81,434.23
	x	Total Interest Collections	$	10,109,414.00
C	Other Reimbursements		$	-
D	Reserves in Excess of Reserve Requirement		$	105,807.37
E	Interest Rate Cap Proceeds		$	-
F	Trust Account Investment Income		$	90,645.81
G	Administrator Account Investment Income		$	-
	TOTAL FUNDS RECEIVED		$	30,947,386.98
	LESS FUNDS PREVIOUSLY REMITTED/SET ASIDE:
	i        Consolidation Loan Rebate Fees		$	3,835,496.52
H	TOTAL AVAILABLE FUNDS		$	27,111,890.46
I	Servicing Fees Due for Current Period		$	1,376,586.88
J	Carryover Servicing Fees Due		$	-
K	Total Fees Due for Period		$	1,376,586.88

V. SLC TRUST 2004-01                  Waterfall for Distributions

A	Total Available Funds (III-F)		$	27,111,890.46
B	Trustee Fees		$	9,000.00
C	Primary Servicing Fees		$	1,376,586.88
E	Noteholder's Interest Distribution Amount Paid
	i	Class A-1	$	643,657.12
	ii	Class A-2	$	1,348,524.07
	iii	Class A-3	$	855,789.11
	iv	Class A-4	$	1,532,243.33
	v	Class A-5	$	1,324,447.34
	vi	Class A-6	$	755,105.87
	vii	Class A-7	$	1,737,686.00
	viii	Class B	$	272,386.37
	ix	Total Noteholder's Interest Distribution	$	8,469,839.21
F	Noteholder's Principal Distribution Amount Paid
	i	Class A-1	$	17,256,464.37
	ii	Class A-2	$	-
	iii	Class A-3	$	-
	iv	Class A-4	$	-
	v	Class A-5	$	-
	vi	Class A-6	$	-
	vii	Class A-7	$	-
	viii	Class B	$	-
	ix	Total Noteholder's Principal Distribution	$	17,256,464.37
G	Increase to the Reserve Account Balance		$	-
H	Carryover Servicing Fees		$	-
I	Noteholder's Interest Carryover
	i	Class A-1	$	-
	ii	Class A-2	$	-
	iii	Class A-3	$	-
	iv	Class A-4	$	-
	v	Class A-5	$	-
	vi	Class A-6	$	-
	vii	Class A-7	$	-
	viii	Class A-8	$	-
	ix	Class A-9	$	-
	x	Class B	$	-
	xi	Total Noteholder's Interest Carryover	$	-
J	Excess Distribution Release to Trust Certificateholders		$	-
K	Draw from Capitalized Interest Account		$	-

VI. SLC TRUST 2004-01                 Historical Pool Information

			11/23/04-01/31/05
	Student Loan Interest Activity
	i	Regular Interest Collections	$	8,480,642.70
	ii	Interest Claims Received from Guarantors	$	5,262.77
	iii	Collection Fees/Returned Items	$	-
	iv	Late Fee Reimbursements	$	81,434.23
	v	Interest Reimbursements	$	-
	vi	Other System Adjustments	$	-
	vii	Special Allowance Payments	$	1,000,200.80
	viii	Subsidy Payments	$	541,873.50
	ix	Total Interest Collections	$	10,109,414.00
	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustments	$	(10,638,332.81)
	ii	Government Interest Accrual Adjustments	$	(3,147,520.43)
	iii	Capitalized Interest	$	1,591,965.52
	iv	Total Non-Cash Interest Adjustments	$	(12,193,887.72)
	Total Student Loan Interest Activity		$	(2,084,473.72)
Beginning Student Loan Portfolio Balance			$	1,462,052,963.26
	Student Loan Principal Activity
	i	Regular Principal Collections	$	20,349,297.09
	ii	Principal Collections from Guarantor	$	269,108.77
	iii	Principal Reimbursements	$	23,113.94
	iv	Other System Adjustments	$	-
	v	Total Principal Collections	$	20,641,519.80
	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	(220,843.13)
	ii	Capitalized Interest	$	(1,591,965.52)
	iii	Total Non-Cash Principal Activity	$	(1,812,808.65)
(-)	Total Student Loan Principal Activity		$	18,828,711.15
(=)	Ending Student Loan Portfolio Balance		$	1,443,224,252.11
(+)	Interest to be Capitalized		$	5,014,757.95
(=)	TOTAL POOL		$	1,448,239,010.06
(+)	Reserve Account Balance		$	3,608,060.63
(+)	Capitalized Interest Account Balance		$	7,302,491.00
(=)	Total Adjusted Pool		$	1,459,149,561.69

VII. SLC TRUST 2004-01                 Portfolio Characteristics

	Weighted Avg Coupon		# of Loans		%		Principal Amount		%
STATUS	11/23/04	01/31/05	11/23/04	01/31/05	11/23/04	01/31/05	11/23/04	01/31/05	11/23/04	01/31/05
REPAYMENT
Active
Current	4.219%	4.218%	75,990	75,110	76.573%	76.232%	$1,087,408,846.45	$1,066,842,198.10	74.306%	73.921%
31-60 Days    Delinquent	4.485%	4.481%	1,849	1,520	1.863%	1.543%	$28,080,991.97	$23,012,283.11	1.946%	1.595%
61-90 Days    Delinquent	4.479%	4.536%	856	1,089	0.863%	1.105%	$13,326,983.03	$16,359,520.76	0.965%	1.134%
91-120 Days    Delinquent	4.459%	4.499%	598	722	0.603%	0.733%	$9,683,226.71	$10,606,508.26	0.620%	0.735%
> 120 Days    Delinquent	4.374%	4.450%	1,054	1,505	1.062%	1.527%	$14,919,546.38	$22,428,622.66	1.078%	1.554%
Deferment
Current	4.279%	4.277%	13,303	12,911	13.405%	13.104%	$203,579,187.90	$196,558,441.06	13.936%	13.619%
Forbearance
Current	4.446%	4.392%	5,587	5,646	5.630%	5.730%	$105,026,257.69	$107,090,220.71	7.142%	7.420%
TOTAL REPAYMENT	4.255%	4.252%	99,237	98,503	99.998%	99.975%	$1,462,025,040.13	$1,442,897,794.66	99.992%	99.977%
Claims in Process	3.625%	4.249%	2	25	0.002%	0.025%	$27,923.13	$326,457.45	0.008%	0.023%
Aged Claims Rejected	0.000%	0.000%	0	0	0.000%	0.000%	$              -	$                 -	0.000%	0.000%
GRAND TOTAL	4.255%	4.252%	99,239	98,528	100.000%	100.000%	1,462,052,963.26	1,443,224,252.11	100.000%	100.000%

VIII. SLC TRUST 2004-01                 Payment History and CPRs

Distribution Date	Actual Pool Balances	Life CPR*	Life Pct of CLR
05-Feb	$ 1,443,224,252.11	2.12	6,364.64

*  "Since Issued CPR" is based on the current period's ending pool balance
          calculated against the original pool balance and assuming cutoff date pool date.