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: August 15, 2005

(Date of earliest event reported)

SLC STUDENT LOAN RECEIVABLES I, INC. (as depositor for SLC Student Loan Trust
2005-1 under the Amended and Restated Trust Agreement, dated as of June 15, 2005,
between SLC Student Loan Receivables I, Inc. and Wilmington Trust Company)                 

(Exact name of registrant as specified in its charter)

Delaware	333-118089-02	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 2005-1, Student Loan Asset Backed Notes, Series 2005-1 for the period from June 15, 2005 through July 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 2005-1, Student Loan Asset
	Backed Notes, Series 2005-1 for the period from
	June 15, 2005 through July 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: August 15, 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 2005-1,     Student Loan Asset Backed Notes, Series 2005-1 for the period     from June 15, 2005 through July 31, 2005.

EX-99

Exhibit 99.1

I. SLC TRUST 2005-01                 Deal Parameters

		Student Portfolio Characteristics	06/15/2005	Activity	07/31/2005
A	i	Portfolio Balance	$2,025,914,704.20	$15,497,721.51	$2,010,416,982.69
	ii	Interest to be Capitalized                                              *	$       7,407,773.29		$       6,726,580.56
	iii	Total Pool	$2,033,322,477.49		$2,017,143,563.25
	iv	Specified Reserve Account Balance	$       5,093,782.00		$       5,042,858.91
	v	Capitalized Interest Account Balance	$     35,000,000.00		$     35,000,000.00
	vi	Total Adjusted Pool	$2,073,416,259.49		$2,057,186,422.16
B	i	Portfolio Balance as a Percent of Original Balance	100.00%		99.24%
	ii	Weighted Average Coupon (WAC)	3.640%		3.639%
	iii	Weighted Average Remaining Term	251.94		251.08
	iv	Number of Loans	130,515		129,980
	v	Number of Borrowers	74,395		74,096
	vi	Average Outstanding Principal Balance			$2,018,165,843.45

		Notes	CUSIP	Spread	Balance 06/15/2005	Pool Factor 06/15/2005	Balance 08/15/2005	Pool Factor 08/15/2005
C	i	A1 Notes	784420AA9	0.010%	$722,000,000.00	1.0000000000	$710,732,486.81	0.9843940260
	ii	A2 Notes	784420AB7	0.080%	$385,000,000.00	1.0000000000	$385,000,000.00	1.0000000000
	iii	A3 Notes	784420AC5	0.100%	$384,000,000.00	1.0000000000	$384,000,000.00	1.0000000000
	iv	A4 Notes	784420AD3	0.150%	$531,196,000.00	1.0000000000	$531,196,000.00	1.0000000000
	v
	vi
	vii
	viii	B Notes	784420AE1	0.200%	$  62,542,000.00	1.0000000000	$  62,542,000.00	1.0000000000

Total Notes
Parity $2,084,738,000.00
99.46% $2,073,470,486.81
99.21%

		Reserve Account	06/15/2005	Activity	08/15/2005
D	i	Required Reserve Acc Deposit (%)	0.25%		0.25%
	ii	Reserve Acct Initial Deposit ($)	$5,093,782.00	$                   -	$5,093,782.00
	iii	Specified Reserve Acct Balance ($)	$5,093,782.00	$  (50,923.09)	$5,042,858.91
	iv	Reserve Account Floor Balance ($)	$3,056,269.00	$                   -	$3,056,269.00
	v	Current Reserve Acct Balance ($)	$5,093,782.00	$  (50,923.09)	$5,042,858.91

		Capitalized Interest Account	06/15/2005	Activity	08/15/2005
E	i	Capitalized Interest Account Balance	$35,000,000.00	$                   -	$35,000,000.00

II. SLC TRUST 2005-01                 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	784420AA9	$4,069,297.29	$4,069,297.29	$      -	$      -	$      -	$      -	0.0056361458	3.32625%	3.80000%
A2	784420AB7	$2,215,581.42	$2,215,581.42	$      -	$      -	$      -	$      -	0.0057547569	3.39625%	3.87000%
A3	784420AC5	$2,222,840.00	$2,222,840.00	$      -	$      -	$      -	$      -	0.0057886458	3.41625%	3.89000%
A4	784420AD3	$3,119,909.62	$3,119,909.62	$      -	$      -	$      -	$      -	0.0058733681	3.46625%	3.94000%
B	784420AE1	$372,630.88	$372,630.88	$      -	$      -	$      -	$      -	0.0059580903	3.51625%	3.99000%

Total $12,000,259.22 $12,000,259.22

CURRENT LIBOR    3.316250%
        NEXT LIBOR    3.790000%

Principal
Class	CUSIP	Quarterly Principal Due	Quarterly Principal Paid	Quarterly Principal Shortfall	Principal Factor
A1	784420AA9	$27,551,577.84	$11,267,513.19	$16,284,064.65	0.0156059740
A2	784420AB7	$                     -	$                     -	$                     -	0.0000000000
A3	784420AC5	$                     -	$                     -	$                     -	0.0000000000
A4	784420AD3	$                     -	$                     -	$                     -	0.0000000000
B	784420AE1	$                     -	$                     -	$                     -	0.0000000000

TOTAL $27,551,577.84 $11,267,513.19 $16,284,064.65

III. SLC TRUST 2005-01                  Transactions from: 06/15/2005 through: 07/31/2005

A	Student Loan Principal Activity
	i	Regular Principal Collections	$	17,777,603.48
	ii	Principal Collections from Guarantor	$	118,306.90
	iii	Principal Reimbursements	$	-
	iv	Other System Adjustments	$	-
	v	Total Principal Collections	$	17,895,910.38
B	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	(186,029.51)
	ii	Capitalized Interest	$	(2,212,159.36)
	iii	Total Non-Cash Principal Activity	$	(2,398,188.87)
C	Total Student Loan Principal Activity		$	15,497,721.51
D	Student Loan Interest Activity
	i	Regular Interest Collections	$	6,851,433.19
	ii	Interest Claims Received from Guarantors	$	587.19
	iii	Collection Fees/Returned Items	$	-
	iv	Late Fee Reimbursements	$	64,529.63
	v	Interest Reimbursements	$	-
	vi	Other System Adjustments	$	-
	vii	Special Allowance Payments	$	1,949,861.66
	viii	Subsidy Payments	$	266,111.91
	ix	Total Interest Collections	$	9,132,523.58
E	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustments	$	(8,494,938.93)
	ii	Government Interest Accrual Adjustments	$	(6,960,464.40)
	iii	Capitalized Interest	$	2,212,159.36
	iv	Total Non-Cash Interest Adjustments	$	(13,243,243.97)
F	Total Student Loan Interest Activity		$	(4,110,720.39)
G	Realized Losses During Collection Period		$	-
H	Cumulative Realized Losses to Date		$	-

IV. SLC TRUST 2005-01                  Collection Account Activity 06/15/2005 through 07/31/2005

A	Principal Collections
	i	Principal Payments Received	$	9,484,633.25
	ii	Principal Collections from Guarantor	$	118,306.90
	iii	Consolidation Principal Payments	$	8,292,970.23
	iv	Reimbursements by Seller	$	-
	v	Borrower Benefits Reimbursements	$	-
	vi	Reimbursements by Servicer	$	-
	vii	Re-purchased Principal	$	-
	viii	Total Principal Collections	$	17,895,910.38
B	Interest Collections
	i	Interest Payments Received	$	8,998,430.60
	ii	Interest Claims Received from Guarantors	$	587.19
	iii	Consolidation Interest Payments	$	68,976.16
	iv	Reimbursements by Seller	$	-
	v	Borrower Benefits Reimbursements	$	-
	vi	Reimbursements by Servicer	$	-
	vii	Re-purchased Interest	$	-
	viii	Collection Fees/Returned Items	$	-
	ix	Late Fees	$	64,529.63
	x	Total Interest Collections	$	9,132,523.58
C	Other Reimbursements (one time funding for 105 bps fee)		$	832,136.52
D	Reserves in Excess of Reserve Requirement		$	50,923.09
E	Interest Rate Cap Proceeds		$	-
F	Trust Account Investment Income		$	206,055.12
G	Administrator Account Investment Income		$	-
	TOTAL FUNDS RECEIVED		$	28,117,548.69
	LESS FUNDS PREVIOUSLY REMITTED/SET ASIDE:
	i        Consolidation Loan Rebate Fees		$	3,548,178.83
H	TOTAL AVAILABLE FUNDS		$	24,569,369.86
I	Servicing Fees Due for Current Period		$	1,292,597.46
J	Carryover Servicing Fees Due		$	-
K	Total Fees Due for Period		$	1,292,597.46

V. SLC TRUST 2005-01                  Waterfall for Distributions

A	Total Available Funds (III-F)		$	24,569,369.86
B	Trustee Fees		$	9,000.00
C	Primary Servicing Fees		$	1,292,597.46
E	Noteholder's Interest Distribution Amount Paid
	i	Class A-1	$	4,069,297.29
	ii	Class A-2	$	2,215,581.42
	iii	Class A-3	$	2,222,840.00
	iv	Class A-4	$	3,119,909.62
	v	Class A-5	$	-
	vi	Class A-6	$	-
	vii	Class A-7	$	-
	viii	Class B	$	372,630.88
	ix	Total Noteholder's Interest Distribution	$	12,000,259.22
F	Noteholder's Principal Distribution Amount Paid
	i	Class A-1	$	11,267,513.19
	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	$	11,267,513.19
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		$	(0.00)

VI. SLC TRUST 2005-01                 Historical Pool Information

			06/15/05-07/31/05
	Student Loan Interest Activity
	i	Regular Interest Collections	$	6,851,433.19
	ii	Interest Claims Received from Guarantors	$	587.19
	iii	Collection Fees/Returned Items	$	-
	iv	Late Fee Reimbursements	$	64,529.63
	v	Interest Reimbursements	$	-
	vi	Other System Adjustments	$	-
	vii	Special Allowance Payments	$	1,949,861.66
	viii	Subsidy Payments	$	266,111.91
	ix	Total Interest Collections	$	9,132,523.58
	Student Loan Non-Cash Interest Activity
	i	Interest Accrual Adjustments	$	(8,494,938.93)
	ii	Government Interest Accrual Adjustments	$	(6,960,464.40)
	iii	Capitalized Interest	$	2,212,159.36
	iv	Total Non-Cash Interest Adjustments	$	(13,243,243.97)
	Total Student Loan Interest Activity		$	(4,110,720.39)
Beginning Student Loan Portfolio Balance			$	2,025,914,704.20
	Student Loan Principal Activity
	i	Regular Principal Collections	$	17,777,603.48
	ii	Principal Collections from Guarantor	$	118,306.90
	iii	Principal Reimbursements	$	-
	iv	Other System Adjustments	$	-
	v	Total Principal Collections	$	17,895,910.38
	Student Loan Non-Cash Principal Activity
	i	Other Adjustments	$	(186,029.51)
	ii	Capitalized Interest	$	(2,212,159.36)
	iii	Total Non-Cash Principal Activity	$	(2,398,188.87)
(-)	Total Student Loan Principal Activity		$	15,497,721.51
(=)	Ending Student Loan Portfolio Balance		$	2,010,416,982.69
(+)	Interest to be Capitalized		$	6,726,580.56
(=)	TOTAL POOL		$	2,017,143,563.25
(+)	Reserve Account Balance		$	5,042,858.91
(+)	Capitalized Interest Account Balance		$	35,000,000.00
(=)	Total Adjusted Pool		$	2,057,186,422.16

VII. SLC TRUST 2005-01                 Portfolio Characteristics

	Weighted Avg Coupon		# of Loans		%		Principal Amount		%
STATUS	06/15/05	07/31/05	06/15/05	07/31/05	06/15/05	07/31/05	06/15/05	07/31/05	06/15/05	07/31/05
REPAYMENT
Active
Current	3.595%	3.589%	97,981	97,417	75.073%	74.948%	$1,456,307,107.27	$1,455,861,863.61	71.884%	72.416%
31-60 Days    Delinquent	3.972%	3.915%	2,211	2,345	1.694%	1.804%	$32,200,887.15	$33,001,684.34	1.589%	1.642%
61-90 Days    Delinquent	4.147%	4.015%	1,236	1,270	0.947%	0.977%	$18,841,871.59	$18,445,759.88	0.930%	0.918%
91-120 Days    Delinquent	4.196%	4.006%	942	900	0.722%	0.692%	$13,627,755.90	$12,231,564.15	0.673%	0.608%
> 120 Days    Delinquent	4.070%	4.169%	1,758	2,314	1.347%	1.780%	$24,580,907.57	$33,503,708.05	1.213%	1.667%
Deferment
Current	3.667%	3.677%	16,837	17,071	12.900%	13.134%	$280,856,431.98	$282,700,458.00	13.863%	14,062%
Forbearance
Current	3.736%	3.770%	9,550	8,643	7.317%	6.649%	$199,499,742.74	$174,387,153.67	9.847%	8.674%
TOTAL REPAYMENT	3.640%	3.639%	130,515	129,960	100.000%	99.985%	$2,025,914,704.20	$2,010,132,191.70	100.000%	99.986%
Claims in Process	0.000%	5.354%	0	9	0.000%	0.015%	$                         -	$          284,790.99	0.000%	0.014%
Aged Claims Rejected	0.000%	0.000%	0	0	0.000%	0.000%	$                        -	$                           -	0.000%	0.000%
GRAND TOTAL	3.640%	3.639%	130,515	129,969	100.000%	100.000%	$2,025,914,704.20	$2,010,416,982.69	100.000%	100.000%

VIII. SLC TRUST 2005-01                 Payment History and CPRs

Distribution Date	Actual Pool Balances	Life CPR*	Life Pct of CLR
05-Jul	$ 2,010,416,982.69	2.12	163

*  The prospectus supplement dated June 8, 2005 stated that as April 29, 2005 statistical cutoff date accrued interest on the portfolio to be capitalized was $11,017,606. However, only $6,919,014 of this accrued interest was not to be capitalized. The remaining accrued interest was not capitalized. Interest to be capitalized on the final portfolio as of the June 15, 2005 closing date was $7,407,773.