-----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, TbjpCcBuqJCL3AVLUfDmn+ZcCsWQYNBNL9EiugX7hQeAFVtPmabrXlAlFlOSRj2P keI2AZ2d0NYybLfenElw5w== 0000899681-05-000632.txt : 20050915 0000899681-05-000632.hdr.sgml : 20050915 20050915160319 ACCESSION NUMBER: 0000899681-05-000632 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050831 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050915 DATE AS OF CHANGE: 20050915 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: 051086792 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: 051086793 BUSINESS ADDRESS: STREET 1: 16855 W BERNARDO DRIVE CITY: SAN DIEGO STATE: CA ZIP: 92127 BUSINESS PHONE: 8587161586 8-K 1 college-8k_091505.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): August 31, 2005

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, Series 2004-1, and 2005-1.

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, Series 2004-1, and 2005-1.

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: September 15, 2005		 College Loan Corporation, as Co-
Registrant

By:/s/ Elizabeth Wood                      
      Name: Elizabeth Wood
      Title: Chief Financial Officer




Dated: September 15, 2005 		College Loan Corporation Trust I,
as Co-Registrant, by College Loan LLC, as
Sponsor

By: /s/ Elizabeth Wood                        
      Name: Elizabeth Wood
      Title: Chief Financial Officer



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, Series 2004-1, and 2005-1.

EX-20 2 college-ex201_091505.htm EXHIBIT 20.1 Exhibit 20.1

EXHIBIT 20.1

College Loan Corporation Trust I Series 2003-2, Series 2004-1, and 2005-1
Statement to Note Holders
As of and for the period ended: 08/31/2005

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 August 2005; 

                           Series     Class     Principal Paid
                           ------     -----     --------------

                            2002       A-1                  $0
                            2002       A-2                  $0
                            2002       A-3                  $0
                            2002       A-4                  $0
                            2002       A-5                  $0
                            2002       A-6                  $0
                            2002       A-7                  $0
                            2002       A-8                  $0
                            2002       A-9                  $0
                            2002       B-1                  $0
                           2002-2      A-10                 $0
                           2002-2      A-11                 $0
                           2002-2      A-12                 $0
                           2002-2      A-13                 $0
                           2002-2      A-14                 $0
                           2002-2      A-15                 $0
                           2002-2      A-16                 $0
                           2002-2      A-17                 $0
                           2002-2      A-18        $13,000,000
                           2002-2      A-19                 $0
                           2002-2      A-20                 $0
                           2002-2      A-21                 $0
                           2002-2      A-22                 $0
                           2002-2      A-23                 $0
                           2002-2      A-24                 $0
                           2002-2      A-25                 $0
                           2002-2      A-26                 $0
                           2002-2      A-27                 $0
                           2002-2      A-28                 $0
                           2002-2      A-29                 $0
                           2002-2      A-30                 $0
                           2002-2      B-2                  $0
                           2002-2      B-3                  $0
                           2002-2      B-4                  $0
                           2003-1      A-1                  $0
                           2003-1      A-2                  $0
                           2003-1      A-3                  $0
                           2003-1      A-4                  $0
                           2003-1      A-5                  $0
                           2003-1      A-6                  $0
                           2003-1      A-7                  $0
                           2003-1      A-8                  $0
                           2003-1      A-9         $20,000,000
                           2003-1      A-10        $50,000,000
                           2003-1      B-1                  $0
                           2003-1      B-2                  $0
                           2003-2      A-1                  $0
                           2003-2      A-2                  $0
                           2003-2      A-3                  $0
                           2004-1      A-1                  $0
                           2004-1      A-2                  $0
                           2004-1      A-3                  $0
                           2004-1      A-4                  $0
                           2004-1      B-1                  $0
                           2005-1      A-1                  $0
                           2005-1      A-2                  $0
                           2005-1      A-3                  $0
                           2005-1      A-4                  $0
                           2005-1      A-5                  $0
                           2005-1      B-1                  $0
(b) the amount of payments with respect to each series of Notes paid with respect to interest during August 2005; 

                            Series     Class     Principal Paid
                            ------     -----     --------------
                              2002      A-1      $           -
                              2002      A-2      $           -
                              2002      A-3      $           -
                              2002      A-4      $        184,807
                              2002      A-5      $        191,464
                              2002      A-6      $        189,274
                              2002      A-7      $        194,268
                              2002      A-8      $        190,953
                              2002      A-9      $         53,889
                              2002      B-1      $        114,374
                              2002-2    A-10     $        273,100
                              2002-2    A-11     $        273,020
                              2002-2    A-12     $        527,620
                              2002-2    A-13     $        262,280
                              2002-2    A-14     $        260,820
                              2002-2    A-15     $        265,420
                              2002-2    A-16     $        270,800
                              2002-2    A-17     $        271,560
                              2002-2    A-18     $        236,992
                              2002-2    A-19     $        320,263
                              2002-2    A-20     $        333,074
                              2002-2    A-21     $        300,986
                              2002-2    A-22     $        300,986
                              2002-2    A-23     $        300,986
                              2002-2    A-24     $        311,019
                              2002-2    A-25     $        311,019
                              2002-2    A-26     $        311,019
                              2002-2    A-27     $        310,170
                              2002-2    A-28     $        310,170
                              2002-2    A-29     $        310,170
                              2002-2    A-30     $        310,170
                              2002-2    B-2      $        109,856
                              2002-2    B-3      $        219,392
                              2002-2    B-4      $        108,624
                              2003-1    A-1      $            -
                              2003-1    A-2      $        263,120
                              2003-1    A-3      $        262,360
                              2003-1    A-4      $        538,440
                              2003-1    A-5      $        536,220
                              2003-1    A-6      $        521,640
                              2003-1    A-7      $        261,580
                              2003-1    A-8      $        262,280
                              2003-1    A-9      $         52,780
                              2003-1    A-10     $        196,604
                              2003-1    B-1      $         68,660
                              2003-1    B-2      $         68,080
                              2003-2    A-1      $            -
                              2003-2    A-2      $            -
                              2003-2    A-3      $            -
                              2004-1    A-1      $            -
                              2004-1    A-2      $            -
                              2004-1    A-3      $            -
                              2004-1    A-4      $            -
                              2004-1    B-1      $        279,240
                              2005-1    A-1      $            -
                              2005-1    A-2      $            -
                              2005-1    A-3      $            -
                              2005-1    A-4      $            -
                              2005-1    A-5      $            -
                              2005-1    B-1      $        108,624
(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 August 2005;

Principal Balance of Financed Student Loans     $6,503,845,938

(e) the aggregate outstanding principal amount of the Notes of each series as of the close of business on the last day of August 2005, after giving effect to payments allocated to principal reported under paragraph (a) above; 

                              Series     Class     Principal Paid
                              ------     -----     --------------
                              2002       A-1       $        -
                              2002       A-2       $        -
                              2002       A-3       $        -
                              2002       A-4       $  73,000,000
                              2002       A-5       $  73,000,000
                              2002       A-6       $  73,000,000
                              2002       A-7       $  73,000,000
                              2002       A-8       $  73,000,000
                              2002       A-9       $  19,900,000
                              2002       B-1       $  42,000,000
                             2002-2     A-10       $ 100,000,000
                             2002-2     A-11       $ 100,000,000
                             2002-2     A-12       $ 100,000,000
                             2002-2     A-13       $ 100,000,000
                             2002-2     A-14       $ 100,000,000
                             2002-2     A-15       $ 100,000,000
                             2002-2     A-16       $ 100,000,000
                             2002-2     A-17       $ 100,000,000
                             2002-2     A-18       $  67,000,000
                             2002-2     A-19       $ 100,000,000
                             2002-2     A-20       $ 100,000,000
                             2002-2     A-21       $ 100,000,000
                             2002-2     A-22       $ 100,000,000
                             2002-2     A-23       $ 100,000,000
                             2002-2     A-24       $ 100,000,000
                             2002-2     A-25       $ 100,000,000
                             2002-2     A-26       $ 100,000,000
                             2002-2     A-27       $ 100,000,000
                             2002-2     A-28       $ 100,000,000
                             2002-2     A-29       $ 100,000,000
                             2002-2     A-30       $ 100,000,000
                             2002-2      B-2       $  40,000,000
                             2002-2      B-3       $  40,000,000
                             2002-2      B-4       $  40,000,000
                             2003-1      A-1       $        -
                             2003-1      A-2       $ 100,000,000
                             2003-1      A-3       $ 100,000,000
                             2003-1      A-4       $ 100,000,000
                             2003-1      A-5       $ 100,000,000
                             2003-1      A-6       $ 100,000,000
                             2003-1      A-7       $ 100,000,000
                             2003-1      A-8       $ 100,000,000
                             2003-1      A-9       $        -
                             2003-1     A-10       $        -
                             2003-1      B-1       $  25,000,000
                             2003-1      B-2       $  25,000,000
                             2003-2      A-1       $  25,000,000
                             2003-2      A-2       $ 646,800,000
                             2003-2      A-3       $ 308,200,000
                             2004-1      A-1       $ 293,000,000
                             2004-1      A-2       $ 307,000,000
                             2004-1      A-3       $ 400,000,000
                             2004-1      A-4       $ 200,000,000
                             2004-1      B-1       $ 100,000,000
                             2005-1      A-1       $ 216,000,000
                             2005-1      A-2       $ 393,000,000
                             2005-1      A-3       $ 300,000,000
                             2005-1      A-4       $ 214,000,000
                             2005-1      A-5       $ 137,000,000
                             2005-1      B-1       $  40,000,000
(f) the interest rate for any series of variable rate Notes for August 2005, indicating how such interest rate is calculated; 

                   Series     Class    Interest Rate        Interest Calculation
                   ------     -----    -------------        --------------------
                     2002      A-1            n/a           28-Day Auction Rate
                     2002      A-2            n/a           28-Day Auction Rate
                     2002      A-3            n/a           28-Day Auction Rate
                     2002      A-4         3.492%           28-Day Auction Rate
                     2002      A-5         3.550%           28-Day Auction Rate
                     2002      A-6         3.522%           28-Day Auction Rate
                     2002      A-7         3.537%           28-Day Auction Rate
                     2002      A-8         3.456%           28-Day Auction Rate
                     2002      A-9         3.562%           28-Day Auction Rate
                     2002      B-1         3.608%           28-Day Auction Rate
                    2002-2     A-10        3.585%           28-Day Auction Rate
                    2002-2     A-11        3.584%           28-Day Auction Rate
                    2002-2     A-12        3.591%           28-Day Auction Rate
                    2002-2     A-13        3.553%           28-Day Auction Rate
                    2002-2     A-14        3.508%           28-Day Auction Rate
                    2002-2     A-15        3.505%           28-Day Auction Rate
                    2002-2     A-16        3.562%           28-Day Auction Rate
                    2002-2     A-17        3.569%           28-Day Auction Rate
                    2002-2     A-18        3.528%           28-Day Auction Rate
                    2002-2     A-19        3.675%           28-Day Auction Rate
                    2002-2     A-20        3.685%           28-Day Auction Rate
                    2002-2     A-21        3.670%           28-Day Auction Rate
                    2002-2     A-22        3.670%           28-Day Auction Rate
                    2002-2     A-23        3.670%           28-Day Auction Rate
                    2002-2     A-24        3.672%           28-Day Auction Rate
                    2002-2     A-25        3.672%           28-Day Auction Rate
                    2002-2     A-26        3.672%           28-Day Auction Rate
                    2002-2     A-27        3.672%           28-Day Auction Rate
                    2002-2     A-28        3.672%           28-Day Auction Rate
                    2002-2     A-29        3.672%           28-Day Auction Rate
                    2002-2     A-30        3.672%           28-Day Auction Rate
                    2002-2     B-2         3.624%           28-Day Auction Rate
                    2002-2     B-3         3.603%           28-Day Auction Rate
                    2002-2     B-4         3.639%           28-Day Auction Rate
                    2003-1     A-1            n/a            7-Day Auction Rate
                    2003-1     A-2         3.551%           28-Day Auction Rate
                    2003-1     A-3         3.565%           28-Day Auction Rate
                    2003-1     A-4         3.608%           28-Day Auction Rate
                    2003-1     A-5         3.573%           28-Day Auction Rate
                    2003-1     A-6         3.461%           28-Day Auction Rate
                    2003-1     A-7         3.529%           28-Day Auction Rate
                    2003-1     A-8         3.531%           28-Day Auction Rate
                    2003-1     A-9         3.440%           28-Day Auction Rate
                    2003-1     A-10        3.680%           28-Day Auction Rate
                    2003-1     B-1         3.624%           28-Day Auction Rate
                    2003-1     B-2         3.613%           28-Day Auction Rate



                                   Weighted Average            Weighted Average
                Series      Class     Libor Rate     Spread          Rate         Interest Calculation
                ------      -----     ----------     ------          ----         --------------------
                2003-2       A-1        3.65000%     0.03000%      3.68000%       Floating Rate Note
                2003-2       A-2        3.65000%     0.14000%      3.79000%       Floating Rate Note
                2003-2       A-3        3.65000%     0.20000%      3.85000%       Floating Rate Note
                2004-1       A-1        3.65000%     0.05000%      3.70000%       Floating Rate Note
                2004-1       A-2        3.65000%     0.11000%      3.76000%       Floating Rate Note
                2004-1       A-3        3.65000%     0.16000%      3.81000%       Floating Rate Note
                2004-1       A-4        3.65000%     0.19000%      3.84000%       Floating Rate Note
                2004-1       B-1                                     3.762%       28-Day Auction Rate
                2005-1       A-1        3.65000%     0.03000%      3.68000%       Floating Rate Note
                2005-1       A-2        3.65000%     0.10000%      3.75000%       Floating Rate Note
                2005-1       A-3        3.65000%     0.12000%      3.77000%       Floating Rate Note
                2005-1       A-4        3.65000%     0.15000%      3.80000%       Floating Rate Note
                2005-1       A-5        3.65000%     0.20000%      3.85000%       Floating Rate Note
                2005-1       B-1                                   3.666%         28-Day Auction Rate
(g) the amount of the servicing fees allocated to the Servicers as of the close of business on the last day of August 2005;

  Servicing fees     $1,182,149

(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 August 2005; 


                                     Fee                    Amount
                                     ---                    ------
                                    Administration      $1,115,512
                                     Auction Agent         $10,749
                                      Market Agent              $0
                                 Calculation Agent              $0
                                     Broker-Dealer        $645,541
                                  Delaware Trustee              $0
                                           Trustee         $46,581
                           Eligible Lender Trustee              $0
                                Verification Agent               *
                 *Verification Agent fees are included in Trustee fees above
(i) the amount of principal and interest received during August 2005 relating to Financed Student Loans;

  Amount of principal and interest received     $142,140,151

(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 August 2005; 

         Amount of payment attributable to amounts in the Reserve Fund                $0
         Amount of any other withdrawals from the Reserve Fund                  $622,500
         Ending Balance of Reserve Fund                                      $52,079,250
(k) the portion, if any, of the payments made on the Notes as described in sections (a) or (b) above during August 2005 attributable to amounts on deposit in the Acquisition Fund;

  Payments from the Acquisition Fund     $0

(l) the aggregate amount, if any, paid by the Trustee to acquire Student Loans from amounts on deposit in the Acquisition Fund during August 2005;

  Amounts paid to acquire Student Loans     $2,682,970

(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

(n) the aggregate amount, if any, paid for Financed Student Loans purchased from the Trust during August 2005;

  Amounts paid for Financed Student Loans purchased from the Trust     $0

(o) the number and principal amount of Financed Student Loans, as of the close of business on the last day of August 2005, 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 awaitingpayment; 

                                                          Number            Amount
                                                          ------            ------
             (i)  0 to 30 days delinquent              579,636        6,147,077,357
            (ii)  31 to 60 days delinquent              13,693          133,323,006
           (iii)  61 to 90 days delinquent               7,059           65,910,180
            (iv)  91 to 120 days delinquent              5,163           43,842,521
             (v)  > 120 day delinquent                  14,286          100,819,095
            (vi)  & claims filed                         2,191           12,873,779
                                                         -----           ----------
                  Total                                622,028        6,503,845,938
(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 August 2005; and

  Value of the Trust Estate     $6,905,983,494

Outstanding Principal amount of the Notes     $6,943,900,000

(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 August 2005. 


                                                                                   Number      Percentage
                                                                                   ------      ----------
           (i)       Outstanding rejected federal reimbursement claims                28             *
           (ii)      Financed Student Loans in forbearance                        32,549         8.27%
           (iii)     Financed Student Loans in deferment                          61,778        12.75%
           * Less than 0.01%
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