-----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, Jx7kLpH9QDmRvSPZV3PuoqiyOg2D88kCdLV+iuZUwAtv6qix97l+z7FXoXmmm5Wm i6nBrxr72ETPNE+KmmRsFA== 0000899681-06-000024.txt : 20060117 0000899681-06-000024.hdr.sgml : 20060116 20060117143657 ACCESSION NUMBER: 0000899681-06-000024 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051231 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060117 DATE AS OF CHANGE: 20060117 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: 06532665 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: 06532664 BUSINESS ADDRESS: STREET 1: 1100 N MARKET ST CITY: WILMINGTON STATE: DE ZIP: 19890 BUSINESS PHONE: 302-636-6071 8-K 1 college-8k_011706.htm 8-K

OMB APPROVAL     
OMB Number: 3235-0060
Expires: March 31, 2006
Estimated average burden
hours per response.....2.64



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): December 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.

  (d) 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: January 17, 2005		 College Loan Corporation, as Co-
Registrant

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





Dated: January 17, 2005		 College Loan Corporation Trust I, as Co-Registrant, by College
Loan Corporation as Sole Economic Member of 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_011706.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: 12/31/2005

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 December 2005;

Series
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-2
2003-2
2003-2
2004-1
2004-1
2004-1
2004-1
2004-1
2005-1
2005-1
2005-1
2005-1
2005-1
2005-1		 Class
A-1
A-2
A-3
A-4
A-5
A-6
A-7
A-8
A-9
B-1
A-10
A-11
A-12
A-13
A-14
A-15
A-16
A-17
A-18
A-19
A-20
A-21
A-22
A-23
A-24
A-25
A-26
A-27
A-28
A-29
A-30
B-2
B-3
B-4
A-1
A-2
A-3
A-4
A-5
A-6
A-7
A-8
A-9
A-10
B-1
B-2
A-1
A-2
A-3
A-1
A-2
A-3
A-4
B-1
A-1
A-2
A-3
A-4
A-5
B-1		 Principal Paid
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$100,000,000
$23,000,000
$0
$28,000,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0

(b) the amount of payments with respect to each series of Notes paid with respect to interest during December 2005;

Series
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-2
2003-2
2003-2
2004-1
2004-1
2004-1
2004-1
2004-1
2005-1
2005-1
2005-1
2005-1
2005-1
2005-1		 Class
A-1
A-2
A-3
A-4
A-5
A-6
A-7
A-8
A-9
B-1
A-10
A-11
A-12
A-13
A-14
A-15
A-16
A-17
A-18
A-19
A-20
A-21
A-22
A-23
A-24
A-25
A-26
A-27
A-28
A-29
A-30
B-2
B-3
B-4
A-1
A-2
A-3
A-4
A-5
A-6
A-7
A-8
A-9
A-10
B-1
B-2
A-1
A-2
A-3
A-1
A-2
A-3
A-4
B-1
A-1
A-2
A-3
A-4
A-5
B-1		 Interest Paid
$-
$-
$-
$234,637
$234,637
$228,475
$226,796
$200,005
$62,132
$135,324
$317,603
$318,360
$316,060
$323,720
$635,180
$310,680
$313,760
$319,900
$73,577
$-
$311,420
$314,380
$314,380
$314,380
$335,340
$335,340
$335,340
$326,258
$326,258
$326,258
$326,258
$130,104
$129,488
$133,480
$-
$322,960
$309,940
$318,360
$321,420
$319,900
$323,720
$323,720
$-
$-
$81,315
$79,590
$-
$-
$-
$-
$-
$-
$-
$666,640
$-
$-
$-
$-
$-
$131,640

(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 December 2005;

Principal Balance of Financed Student Loans           $6,190,443,530

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


Series
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-2
2003-2
2003-2
2004-1
2004-1
2004-1
2004-1
2004-1
2005-1
2005-1
2005-1
2005-1
2005-1
2005-1
Class
A-1
A-2
A-3
A-4
A-5
A-6
A-7
A-8
A-9
B-1
A-10
A-11
A-12
A-13
A-14
A-15
A-16
A-17
A-18
A-19
A-20
A-21
A-22
A-23
A-24
A-25
A-26
A-27
A-28
A-29
A-30
B-2
B-3
B-4
A-1
A-2
A-3
A-4
A-5
A-6
A-7
A-8
A-9
A-10
B-1
B-2
A-1
A-2
A-3
A-1
A-2
A-3
A-4
B-1
A-1
A-2
A-3
A-4
A-5
B-1		 Outstanding
Balance
$ -
$ -
$ -
$ 73,000,000
$ 73,000,000
$ 73,000,000
$ 73,000,000
$ 73,000,000
$ 19,900,000
$ 42,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ -
$ -
$ -
$ 72,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 40,000,000
$ 40,000,000
$ 40,000,000
$ -
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ 100,000,000
$ -
$ -
$ 25,000,000
$ 25,000,000
$ -
$ 591,200,000
$ 308,200,000
$ 293,000,000
$ 307,000,000
$ 400,000,000
$ 200,000,000
$ 100,000,000
$ 216,000,000
$ 393,000,000
$ 300,000,000
$ 214,000,000
$ 137,000,000
$ 40,000,000

(f) the interest rate for any series of variable rate Notes for December 2005, indicating how such interest rate is calculated;


Series
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
 2002
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2002-2
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
2003-1
Class
A-1
A-2
A-3
A-4
A-5
A-6
A-7
A-8
A-9
B-1
A-10
A-11
A-12
A-13
A-14
A-15
A-16
A-17
A-18
A-19
A-20
A-21
A-22
A-23
A-24
A-25
A-26
A-27
A-28
A-29
A-30
B-2
B-3
B-4
A-1
A-2
A-3
A-4
A-5
A-6
A-7
A-8
A-9
A-10
B-1
B-2		 Interest
Rate
n/a
n/a
n/a
4.242%
4.227%
4.245%
4.260%
4.237%
4.248%
4.372%
4.264%
4.287%
4.225%
4.252%
4.209%
4.192%
4.255%
4.170%
4.170%
n/a
4.264%
4.305%
4.305%
4.305%
4.190%
4.190%
4.190%
4.253%
4.253%
4.253%
4.253%
4.379%
4.319%
4.372%
n/a
4.233%
4.258%
4.247%
4.265%
4.240%
4.249%
4.249%
n/a
n/a
4.379%
4.392%		 Interest
Calculation
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
7-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate
28-Day Auction Rate


Series
2003-2
2003-2
2003-2
2004-1
2004-1
2004-1
2004-1
2004-1
2005-1
2005-1
2005-1
2005-1
2005-1
2005-1
Class
A-1
A-2
A-3
A-1
A-2
A-3
A-4
B-1
A-1
A-2
A-3
A-4
A-5
B-1		 Weighted Average
Libor Rate
n/a
4.20000%
4.20000%
4.20000%
4.20000%
4.20000%
4.20000%

4.20000%
4.20000%
4.20000%
4.20000%
4.20000%
Spread
n/a
0.14000%
0.20000%
0.05000%
0.11000%
0.16000%
0.19000%

0.03000%
0.10000%
0.12000%
0.15000%
0.20000%		 Weighted Average
Rate
n/a
4.34000%
4.40000%
4.25000%
4.31000%
4.36000%
4.39000%
4.419%
4.23000%
4.30000%
4.32000%
4.35000%
4.40000%
4.459%		 Interest
Calculation
Floating Rate Note
Floating Rate Note
Floating Rate Note
Floating Rate Note
Floating Rate Note
Floating Rate Note
Floating Rate Note
28-Day Auction Rate
Floating Rate Note
Floating Rate Note
Floating Rate Note
Floating Rate Note
Floating Rate Note
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 December 2005;

Servicing fees          $1,082,961

(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 December 2005;

Fee
Administration
Auction Agent
Market Agent
Calculation Agent
Broker-Dealer
Delaware Trustee
Trustee
Eligible Lender Trustee
Verification Agent		 Amount
$1,054,108
$11,619
$0
$0
$560,332
$5,000
$19,823
$25,000
*
*Verification Agent fees are included in Trustee fees above

(i) the amount of principal and interest received during December 2005 relating to Financed Student Loans;

Amount of principal and interest received            $105,830,830

(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 December 2005;

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
$1,132,500
$49,262,250		  

(k) the portion, if any, of the payments made on the Notes as described in sections (a) or (b) above during December 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 December 2005;

Amounts paid to acquire Student Loans           $509,133

(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 December 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 December 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 awaiting payment;


(i)
(ii)
(iii)
(iv)
(v)
(vi)
0 to 30 days delinquent
31 to 60 days delinquent
61 to 90 days delinquent
91 to 120 days delinquent
> 120 day delinquent
& claims filed
Total		 Number
545,676
13,864
7,333
4,950
16,450
1,850
590,123		 Amount
5,813,088,660
145,526,716
63,672,968
38,754,409
118,262,585
11,138,192
6,190,443,530		  

(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 December 2005; and

Value of the Trust Estate          $6,565,874,814

Outstanding Principal amount of the Notes          $6,568,300,000

(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 December 2005.


(i)
(ii)
(iii)
Outstanding rejected federal reimbursement claims
Financed Student Loans in forbearance
Financed Student Loans in deferment 		Number
27
37,124
59,549		 Percentage
*
9.19%
12.26%
* Less than 0.01%

-----END PRIVACY-ENHANCED MESSAGE-----