-----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, A5cmNfxo4IP8HfrwZWCakDRCojhHy9Dl5r/w73MEkoTXh68ILyv8JTrHirw6rVUE obJEp3Awsrb/gKF8n6/mZw== 0000899681-04-000539.txt : 20040715 0000899681-04-000539.hdr.sgml : 20040715 20040715164008 ACCESSION NUMBER: 0000899681-04-000539 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040630 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040715 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: 04916164 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: 04916165 BUSINESS ADDRESS: STREET 1: 16855 W BERNARDO DRIVE CITY: SAN DIEGO STATE: CA ZIP: 92127 BUSINESS PHONE: 8587161586 8-K 1 college-8k_071504.htm 8-K

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): June 30, 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
California 		333-102791-01
333-102791 		45-6110137
33-0873915
(State or other jurisdiction of
incorporation or organization) 		(Commission File Number) (I.R.S. employer identification number)

16855 W. Bernardo Drive Suite 100, 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 and Series 2004-1.

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 and Series 2004-1.

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)





Dated: July 15, 2004		 College Loan Corporation, as Co-
Registrant


By:/s/ John Falb                                        
      Name: John Falb
      Title: Treasurer






Dated: July 15, 2004 		College Loan Corporation Trust I,
as Co-Registrant, by College Loan LLC, as
Sponsor


By:/s/ John Falb                                        
      Name: John Falb
      Title: Treasurer

EXHIBIT INDEX

Exhibit Number

20.1 		Description

Monthly statement distributed to holders of College Loan Corporation Trust I Student Loan Asset-Backed Notes, Series 2003-2 and Series 2004-1.
EX-20 2 college-ex201_071504.htm EX-20.1 EX-20.1

EXHIBIT 20.1

College Loan Corporation Trust I Series 2003-2 and Series 2004-1
Statement to Note Holders
As of and for the period ended: 6/30/2004

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 June 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
  2004-1      A-1               $0.00
  2004-1      A-2               $0.00
  2004-1      A-3               $0.00
  2004-1      A-4               $0.00
  2004-1      B-1               $0.00
(b) the amount of payments with respect to each series of Notes paid with respect to interest during June 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  $4,388,449.30
     2003-2           A-1                   $0.00
     2003-2           A-2                   $0.00
     2003-2           A-3                   $0.00
     2004-1           A-1                   $0.00
     2004-1           A-2                   $0.00
     2004-1           A-3                   $0.00
     2004-1           A-4                   $0.00
     2004-1           B-1              $95,620.00
(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 June 2004;

Principal Balance of Financed Student Loans            $5,882,377,678.52

(e) the aggregate outstanding principal amount of the Notes of each series as of the close of business on the last day of June 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             $273,500,000.00
                     2003-2      A-2             $646,800,000.00
                     2003-2      A-3             $308,200,000.00
                     2004-1      A-1             $293,000,000.00
                     2004-1      A-2             $307,000,000.00
                     2004-1      A-3             $400,000,000.00
                     2004-1      A-4             $200,000,000.00
                     2004-1      B-1             $100,000,000.00
(f) the interest rate for any series of variable rate Notes for June 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       1.4151%


     Series      Class    Libor Rate     Spread      Rate    Interest Calculation
     ------      -----    ----------     ------      ----    --------------------
      2003-2      A-1         1.17%       0.03%      1.20%    Floating Rate Note
      2003-2      A-2         1.17%       0.14%      1.31%    Floating Rate Note
      2003-2      A-3         1.17%       0.20%      1.37%    Floating Rate Note
      2004-1      A-1       1.1874%       0.05%    1.2374%    Floating Rate Note
      2004-1      A-2       1.1874%       0.11%    1.2974%    Floating Rate Note
      2004-1      A-3       1.1874%       0.16%    1.3474%    Floating Rate Note
      2004-1      A-4       1.1874%       0.19%    1.3774%    Floating Rate Note
      2004-1      B-1                              1.3433%       Auction Rate
(g) the amount of the servicing fees allocated to the Servicers as of the close of business on the last day of June 2004;

Servicing fees            $894,494.06

(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 June 2004; 

                                Fee                   Amount
                                ---                   ------
                                 Administration     $972,457.73
                                  Auction Agent       $4,379.96
                                   Market Agent           $0.00
                              Calculation Agent           $0.00
                                  Broker-Dealer     $804,488.12
                               Delaware Trustee           $0.00
                                        Trustee           $0.00
                        Eligible Lender Trustee           $0.00
                             Verification Agent           $0.00
(i) the amount of principal and interest received during June 2004 relating to Financed Student Loans;

Amount of principal and interest received           $65,058,684.45

(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 June 2004;

Amount of payment attributable to amounts in the Reserve Fund
Amount of any other withdrawals from the Reserve Fund
Ending Balance of Reserve Fund 		$0.00
$0.00
$47,543,250.00

(k) the portion, if any, of the payments made on the Notes as described in sections (a) or (b) above during June 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 2004-1 Notes;

Amounts paid to acquire Student Loans            $185,116,880.68

(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 June 2004;

Amounts paid for Financed Student Loans purchased from the Trust            $598,846.89

(o) the number and principal amount of Financed Student Loans, as of the close of business on the last day of June 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              496,725     5,617,011,068.86
               (ii)  31 to 60 days delinquent              10,105       119,902,230.53
              (iii)  61 to 90 days delinquent               5,422        59,079,045.23
               (iv)  91 to 120 days delinquent              2,643        29,033,137.09
                (v)  > 120 day delinquent                   5,247        51,409,196.26
               (vi)  & claims filed                           667         5,943,000.55
                                                          -------     ----------------
                     Total                                520,809     5,882,377,678.52
(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 June 2004; and

Value of the Trust Estate
Outstanding Principal amount of the Notes		 $6,253,633,482.58
$6,339,100,000.00

(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 June 2004. 

                                                                       Number      Percentage
                                                                       ------      ----------
         (i)     Outstanding rejected federal reimbursement claims         12         0.00%
        (ii)     Financed Student Loans in forbearance                 27,760         8.79%
        (iii)    Financed Student Loans in deferment                   41,805        11.95%
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