-----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, KhckVsDgAJBtxZ9LfcAwqzpjsNjheUX8hacoY2eN1Zl11xT2I88QfQfEnc83SEwF zteP3nOz7D1WORo/6RPJkA== 0000899681-04-000782.txt : 20041115 0000899681-04-000782.hdr.sgml : 20041115 20041115165740 ACCESSION NUMBER: 0000899681-04-000782 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041031 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041115 DATE AS OF CHANGE: 20041115 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: 041146335 BUSINESS ADDRESS: STREET 1: 16855 W BERNARDO DRIVE CITY: SAN DIEGO STATE: CA ZIP: 92127 BUSINESS PHONE: 8587161586 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: 041146334 BUSINESS ADDRESS: STREET 1: 1100 N MARKET ST CITY: WILMINGTON STATE: DE ZIP: 19890 BUSINESS PHONE: 302-636-6071 8-K 1 college-8k_111504.htm 8-K

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UNITES 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 (date of earliest event reported):   October 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
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.)

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 (see General Instruction A.2. below):
[ ] 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 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 9.01 Financial Statements 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: November 15, 2004		 College Loan Corporation, as Co-
Registrant

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





Dated: November 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_111504.txt EXHIBIT 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: 10/31/2004 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 October 2004; SERIES CLASS PRINCIPAL PAID ------ ----- -------------- 2002 A-1 $38,350,000.00 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 $49,200,000.00 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 October 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 $6,036,752.73 2003-2 A-1 $ 958,197.14 2003-2 A-2 $ 2,942,940.00 2003-2 A-3 $ 1,449,053.67 2004-1 A-1 $ 1,266,492.50 2004-1 A-2 $ 1,373,569.17 2004-1 A-3 $ 1,840,222.22 2004-1 A-4 $ 935,277.78 2004-1 B-1 $ 147,660.00 (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 October 2004; PRINCIPAL BALANCE OF FINANCED STUDENT LOANS $5,921,466,511.80 (e) the aggregate outstanding principal amount of the Notes of each series as of the close of business on the last day of October 2004, after giving effect to payments allocated to principal reported under paragraph (a) above; SERIES CLASS OUTSTANDING BALANCE ------ ----- ------------------- 2002 A-1 $35,150,000.00 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 $175,100,000.00 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 October 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 2.0305%
SERIES CLASS LIBOR RATE SPREAD RATE INTEREST CALCULATION ------ ----- ---------- ------ ---- -------------------- 2003-2 A-1 1.66000% 0.03% 1.69000% Floating Rate Note 2003-2 A-2 1.66000% 0.14% 1.80000% Floating Rate Note 2003-2 A-3 1.66000% 0.20% 1.86000% Floating Rate Note 2004-1 A-1 1.66000% 0.05% 1.71000% Floating Rate Note 2004-1 A-2 1.66000% 0.11% 1.77000% Floating Rate Note 2004-1 A-3 1.66000% 0.16% 1.82000% Floating Rate Note 2004-1 A-4 1.66000% 0.19% 1.85000% Floating Rate Note 2004-1 B-1 1.9865% Auction Rate
(g) the amount of the servicing fees allocated to the Servicers as of the close of business on the last day of October 2004; SERVICING FEES $958,844.84 (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 October 2004; FEE AMOUNT --- ------ Administration $1,004,876.04 Auction Agent $3,708.44 Market Agent $0.00 Calculation Agent $0.00 Broker-Dealer $752,531.11 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 October 2004 relating to Financed Student Loans; AMOUNT OF PRINCIPAL AND INTEREST RECEIVED $75,350,350.55 (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 October 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 $ 46,517,625.00
(k) the portion, if any, of the payments made on the Notes as described in sections (a) or (b) above during October 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 $512,071,214.75 (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 October 2004;
AMOUNTS PAID FOR FINANCED STUDENT LOANS PURCHASED FROM THE TRUST $6,732.94
(o) the number and principal amount of Financed Student Loans, as of the close of business on the last day of October 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 497,654 5,626,375,242.68 (II) 31 TO 60 DAYS DELINQUENT 9,944 118,307,963.51 (III) 61 TO 90 DAYS DELINQUENT 5,685 59,909,958.54 (IV) 91 TO 120 DAYS DELINQUENT 3,859 38,460,033.33 (V) > 120 DAY DELINQUENT 8,435 72,527,141.52 (VI) & claims filed 842 5,886,172.22 Total 526,419 5,921,466,511.80
(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 October 2004; and VALUE OF THE TRUST ESTATE $6,118,751,337.99 OUTSTANDING PRINCIPAL AMOUNT OF THE NOTES $6,202,350,000.00 (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 October 2004.
NUMBER PERCENTAGE ------ ---------- (I) OUTSTANDING REJECTED FEDERAL REIMBURSEMENT CLAIMS 11 0.00% (II) FINANCED STUDENT LOANS IN FORBEARANCE 27,876 8.65% (III) FINANCED STUDENT LOANS IN DEFERMENT 52,416 13.40%
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