-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UfbXx/GTMN7gwE9qR8lHFQXff++pylZTaU9hHb7gZUHxxmSXH3SnszdUGKJIJc8G Y7hwfrTPRRxkCMXNNwUGrg== 0000899681-04-000260.txt : 20040415 0000899681-04-000260.hdr.sgml : 20040415 20040415172946 ACCESSION NUMBER: 0000899681-04-000260 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040331 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COLLEGE LOAN CORP TRUST I CENTRAL INDEX KEY: 0001172104 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 016110137 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-102791-01 FILM NUMBER: 04736691 BUSINESS ADDRESS: STREET 1: 1100 N MARKET ST CITY: WILMINGTON STATE: DE ZIP: 19890 BUSINESS PHONE: 302-636-6071 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COLLEGE LOAN CORP CENTRAL INDEX KEY: 0001215751 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 33087395 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-102791 FILM NUMBER: 04736690 BUSINESS ADDRESS: STREET 1: 16855 W BERNARDO DRIVE CITY: SAN DIEGO STATE: CA ZIP: 92127 BUSINESS PHONE: 8587161586 8-K 1 college-8k_041504.txt 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 (date of earliest event reported): MARCH 31, 2004 COLLEGE LOAN CORPORATION TRUST I (Issuer of the Notes) COLLEGE LOAN CORPORATION (Depositor of the Issuer of the Notes) - -------------------------------------------------------------------------------- (Exact name of Co-Registrant as specified in its charter)
DELAWARE 333-102791-01 45-6110137 CALIFORNIA 333-102791 33-087395 - -------------------------------------------------------------------------------- (State or other jurisdiction of (Commission File Number) (I.R.S. employer incorporation or organization) identification number)
16855 W. BERNARDO DRIVE, SAN DIEGO, CALIFORNIA 92127 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (888) 972-6311 - -------------------------------------------------------------------------------- NOT APPLICABLE - ------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Item 5. OTHER EVENTS. See the monthly statement attached as Exhibit 20.1 hereto distributed to holders of College Loan Corporation Trust I Student Loan Asset-Backed Notes, Series 2003-2. Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits furnished in accordance with Items 601(a) of Regulation S-K. EXHIBIT NO. 20.1 Monthly statement distributed to holders of College Loan Corporation Trust I Student Loan Asset-Backed Notes, Series 2003-2. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, each of the Co-Registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. COLLEGE LOAN CORPORATION TRUST I COLLEGE LOAN CORPORATION (Co-Registrants) College Loan Corporation, as Co- Registrant Dated: April 15, 2004 By: /s/John Falb --------------------------------- Name: John Falb Title: Treasurer College Loan Corporation Trust I, as Co-Registrant, by College Loan LLC, as Sponsor Dated: April 15, 2004 By: /s/John Falb ---------------------------------- Name: John Falb Title: Treasurer EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION 20.1 Monthly statement distributed to holders of College Loan Corporation Trust I Student Loan Asset-Backed Notes, Series 2003-2. EX-20 3 college-ex201_041504.txt EXHIBIT 20.1 EXHIBIT 20.1 COLLEGE LOAN CORPORATION TRUST I SERIES 2003-2 STATEMENT TO NOTE HOLDERS AS OF AND FOR THE PERIOD ENDED: 3/31/2004 Pursuant to section 11.04 of the Trust Indenture, the following is provided to the trustee by the issuer. The information shown below has not been independently verified, however it is believed to be accurate to the best of the issuer's knowledge. (a) the amount of payments with respect to each series of Notes paid with respect to principal during March 2004; SERIES CLASS PRINCIPAL PAID 2002 A-1 $0.00 2002 A-2 $0.00 2002 A-3 $0.00 2002 A-4 $0.00 2002 A-5 $0.00 2002 A-6 $0.00 2002 A-7 $0.00 2002 A-8 $0.00 2002 A-9 $0.00 2002 B-1 $0.00 2002-2 A-10 $0.00 2002-2 A-11 $0.00 2002-2 A-12 $0.00 2002-2 A-13 $0.00 2002-2 A-14 $0.00 2002-2 A-15 $0.00 2002-2 A-16 $0.00 2002-2 A-17 $0.00 2002-2 A-18 $0.00 2002-2 A-19 $0.00 2002-2 A-20 $0.00 2002-2 A-21 $0.00 2002-2 A-22 $0.00 2002-2 A-23 $0.00 2002-2 A-24 $0.00 2002-2 A-25 $0.00 2002-2 A-26 $0.00 2002-2 A-27 $0.00 2002-2 A-28 $0.00 2002-2 A-29 $0.00 2002-2 A-30 $0.00 2002-2 B-2 $0.00 2002-2 B-3 $0.00 2002-2 B-4 $0.00 2003-1 A-1 $0.00 2003-1 A-2 $0.00 2003-1 A-3 $0.00 2003-1 A-4 $0.00 2003-1 A-5 $0.00 2003-1 A-6 $0.00 2003-1 A-7 $0.00 2003-1 A-8 $0.00 2003-1 A-9 $0.00 2003-1 A-10 $0.00 2003-1 B-1 $0.00 2003-1 B-2 $0.00 2003-2 A-1 $0.00 2003-2 A-2 $0.00 2003-2 A-3 $0.00 (b) the amount of payments with respect to each series of Notes paid with respect to interest during March 2004; SERIES CLASS INTEREST PAID 2002 A-1 See below 2002 A-2 See below 2002 A-3 See below 2002 A-4 See below 2002 A-5 See below 2002 A-6 See below 2002 A-7 See below 2002 A-8 See below 2002 A-9 See below 2002 B-1 See below 2002-2 A-10 See below 2002-2 A-11 See below 2002-2 A-12 See below 2002-2 A-13 See below 2002-2 A-14 See below 2002-2 A-15 See below 2002-2 A-16 See below 2002-2 A-17 See below 2002-2 A-18 See below 2002-2 A-19 See below 2002-2 A-20 See below 2002-2 A-21 See below 2002-2 A-22 See below 2002-2 A-23 See below 2002-2 A-24 See below 2002-2 A-25 See below 2002-2 A-26 See below 2002-2 A-27 See below 2002-2 A-28 See below 2002-2 A-29 See below 2002-2 A-30 See below 2002-2 B-2 See below 2002-2 B-3 See below 2002-2 B-4 See below 2003-1 A-1 See below 2003-1 A-2 See below 2003-1 A-3 See below 2003-1 A-4 See below 2003-1 A-5 See below 2003-1 A-6 See below 2003-1 A-7 See below 2003-1 A-8 See below 2003-1 A-9 See below 2003-1 A-10 See below 2003-1 B-1 See below 2003-1 B-2 See below Total interest paid to all series above $3,448,009.63 2003-2 A-1 $0.00 2003-2 A-2 $0.00 2003-2 A-3 $0.00 (c) the amount of the payments allocable to any interest that was carried over together with the amount of any remaining outstanding interest that was carried over; CARRY OVER AMOUNTS $0.00 (d) the principal balance of Financed Student Loans as of the close of business on the last day of March 2004; PRINCIPAL BALANCE OF FINANCED STUDENT LOANS $4,854,882,101.97 (e) the aggregate outstanding principal amount of the Notes of each series as of the close of business on the last day of March 2004, after giving effect to payments allocated to principal reported under paragraph (a) above; SERIES CLASS OUTSTANDING BALANCE 2002 A-1 $73,500,000.00 2002 A-2 $0.00 2002 A-3 $57,100,000.00 2002 A-4 $73,000,000.00 2002 A-5 $73,000,000.00 2002 A-6 $73,000,000.00 2002 A-7 $73,000,000.00 2002 A-8 $73,000,000.00 2002 A-9 $73,000,000.00 2002 B-1 $42,000,000.00 2002-2 A-10 $100,000,000.00 2002-2 A-11 $100,000,000.00 2002-2 A-12 $100,000,000.00 2002-2 A-13 $100,000,000.00 2002-2 A-14 $100,000,000.00 2002-2 A-15 $100,000,000.00 2002-2 A-16 $100,000,000.00 2002-2 A-17 $100,000,000.00 2002-2 A-18 $80,000,000.00 2002-2 A-19 $100,000,000.00 2002-2 A-20 $100,000,000.00 2002-2 A-21 $100,000,000.00 2002-2 A-22 $100,000,000.00 2002-2 A-23 $100,000,000.00 2002-2 A-24 $100,000,000.00 2002-2 A-25 $100,000,000.00 2002-2 A-26 $100,000,000.00 2002-2 A-27 $100,000,000.00 2002-2 A-28 $100,000,000.00 2002-2 A-29 $100,000,000.00 2002-2 A-30 $100,000,000.00 2002-2 B-2 $40,000,000.00 2002-2 B-3 $40,000,000.00 2002-2 B-4 $40,000,000.00 2003-1 A-1 $100,000,000.00 2003-1 A-2 $100,000,000.00 2003-1 A-3 $100,000,000.00 2003-1 A-4 $100,000,000.00 2003-1 A-5 $100,000,000.00 2003-1 A-6 $100,000,000.00 2003-1 A-7 $100,000,000.00 2003-1 A-8 $100,000,000.00 2003-1 A-9 $100,000,000.00 2003-1 A-10 $50,000,000.00 2003-1 B-1 $25,000,000.00 2003-1 B-2 $25,000,000.00 2003-2 A-1 $314,500,000.00 2003-2 A-2 $646,800,000.00 2003-2 A-3 $308,200,000.00 (f) the interest rate for any series of variable rate Notes for March 2004, indicating how such interest rate is calculated;
SERIES CLASS INTEREST RATE INTEREST CALCULATION 2002 A-1 See Below 28-Day Auction Rate 2002 A-2 See Below 28-Day Auction Rate 2002 A-3 See Below 28-Day Auction Rate 2002 A-4 See Below 28-Day Auction Rate 2002 A-5 See Below 28-Day Auction Rate 2002 A-6 See Below 28-Day Auction Rate 2002 A-7 See Below 28-Day Auction Rate 2002 A-8 See Below 28-Day Auction Rate 2002 A-9 See Below 28-Day Auction Rate 2002 B-1 See Below 28-Day Auction Rate 2002-2 A-10 See Below 28-Day Auction Rate 2002-2 A-11 See Below 28-Day Auction Rate 2002-2 A-12 See Below 28-Day Auction Rate 2002-2 A-13 See Below 28-Day Auction Rate 2002-2 A-14 See Below 28-Day Auction Rate 2002-2 A-15 See Below 28-Day Auction Rate 2002-2 A-16 See Below 28-Day Auction Rate 2002-2 A-17 See Below 28-Day Auction Rate 2002-2 A-18 See Below 28-Day Auction Rate 2002-2 A-19 See Below 28-Day Auction Rate 2002-2 A-20 See Below 28-Day Auction Rate 2002-2 A-21 See Below 28-Day Auction Rate 2002-2 A-22 See Below 28-Day Auction Rate 2002-2 A-23 See Below 28-Day Auction Rate 2002-2 A-24 See Below 28-Day Auction Rate 2002-2 A-25 See Below 28-Day Auction Rate 2002-2 A-26 See Below 28-Day Auction Rate 2002-2 A-27 See Below 28-Day Auction Rate 2002-2 A-28 See Below 28-Day Auction Rate 2002-2 A-29 See Below 28-Day Auction Rate 2002-2 A-30 See Below 28-Day Auction Rate 2002-2 B-2 See Below 28-Day Auction Rate 2002-2 B-3 See Below 28-Day Auction Rate 2002-2 B-4 See Below 28-Day Auction Rate 2003-1 A-1 See Below 28-Day Auction Rate 2003-1 A-2 See Below 28-Day Auction Rate 2003-1 A-3 See Below 28-Day Auction Rate 2003-1 A-4 See Below 28-Day Auction Rate 2003-1 A-5 See Below 28-Day Auction Rate 2003-1 A-6 See Below 28-Day Auction Rate 2003-1 A-7 See Below 28-Day Auction Rate 2003-1 A-8 See Below 28-Day Auction Rate 2003-1 A-9 See Below 28-Day Auction Rate 2003-1 A-10 See Below 28-Day Auction Rate 2003-1 B-1 See Below 28-Day Auction Rate 2003-1 B-2 See Below 28-Day Auction Rate Weighted average rate for Notes above 1.0442% SERIES CLASS LIBOR RATE SPREAD RATE INTEREST CALCULATION 2003-2 A-1 1.12% 0.03% 1.15% Floating Rate Note 2003-2 A-2 1.12% 0.14% 1.26% Floating Rate Note 2003-2 A-3 1.12% 0.20% 1.32% Floating Rate Note
(g) the amount of the servicing fees allocated to the Servicers as of the close of business on the last day of March 2004; SERVICING FEES $767,322.40 (h) the amount of the Administration Fee, any auction agent fees, market agent fees, calculation agent fees, broker-dealer fees, if any, fees paid to the Delaware Trustee, the Trustee, the Eligible Lender Trustee and the Verification Agent, all allocated as of the close of business on the last day of March 2004; FEE AMOUNT Administration $0.00 Auction Agent $3,416.79 Market Agent $0.00 Calculation Agent $0.00 Broker-Dealer $842,505.50 Delaware Trustee $0.00 Trustee $38,533.40 Eligible Lender Trustee $0.00 Verification Agent $600.00 (i) the amount of principal and interest received during March 2004 relating to Financed Student Loans; AMOUNT OF PRINCIPAL AND INTEREST RECEIVED $56,771,687.48 (j) the amount of the payment attributable to amounts in the Reserve Fund, the amount of any other withdrawals from the Reserve Fund and the balance of the Reserve Fund as of the close of business on the last day of March 2004;
AMOUNT OF PAYMENT ATTRIBUTABLE TO AMOUNTS IN THE RESERVE FUND $0.00 AMOUNT OF ANY OTHER WITHDRAWALS FROM THE RESERVE FUND $0.00 ENDING BALANCE OF RESERVE FUND $38,132,048,06
(k) the portion, if any, of the payments made on the Notes as described in sections (a) or (b) above during March 2004 attributable to amounts on deposit in the Acquisition Fund; PAYMENTS FROM THE ACQUISITION FUND $0.00 (l) the aggregate amount, if any, paid by the Trustee to acquire Student Loans from amounts on deposit in the Acquisition Fund subsequent to the closing date of the series 2003-2 Notes; AMOUNTS PAID TO ACQUIRE STUDENT LOANS $661,972,995.29 (m) the amount remaining in the Acquisition Fund that has not been used to acquire Student Loans and is being transferred to the Debt Service Fund; AMOUNTS IN ACQUISITION FUND TO BE TRANSFERRED TO THE DEBT SERVICE FUND $0.00 (n) the aggregate amount, if any, paid for Financed Student Loans purchased from the Trust during March 2004; AMOUNTS PAID FOR FINANCED STUDENT LOANS PURCHASED FROM THE TRUST $229,397.47 (o) the number and principal amount of Financed Student Loans, as of the close of business on the last day of February 2004, that are (i) 0 to 30 days delinquent, (ii) 31 to 60 days delinquent, (iii) 61 to 90 days delinquent, (iv) 91 to 120 days delinquent, (v) greater than 120 days delinquent and (vi) for which claims have been filed with the appropriate Guarantee Agency and which are awaiting payment; NUMBER AMOUNT (I) 0 TO 30 DAYS DELINQUENT 396,090 4,672,010,707.48 (II) 31 TO 60 DAYS DELINQUENT 5,969 80,771,019.44 (III) 61 TO 90 DAYS DELINQUENT 3,126 34,482,832.41 (IV) 91 TO 120 DAYS DELINQUENT 2,196 23,762,062.43 (V) > 120 DAY DELINQUENT 3,586 38,007,010.01 (VI) & CLAIMS FILED 539 5,848,470.20 TOTAL 411,506 4,854,882,101.97 (p) the Value of the Trust Estate and the Outstanding principal amount of the Notes as of the close of business on the last day of March 2004; and VALUE OF THE TRUST ESTATE $5,028,523,342.94 OUTSTANDING PRINCIPAL AMOUNT OF THE NOTES $5,080,100,000.00 (q) the number and percentage by dollar amount of (i) rejected federal reimbursement claims for Financed Student Loans, (ii) Financed Student Loans in forbearance, and (iii) Financed Student Loans in deferment as of the close of business on the last day of March 2004.
NUMBER PERCENTAGE (I) OUTSTANDING REJECTED FEDERAL REIMBURSEMENT CLAIMS 12 0.00% (II) FINANCED STUDENT LOANS IN FORBEARANCE 24,293 9.56% (III) FINANCED STUDENT LOANS IN DEFERMENT 36,460 12.86%
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