10-K

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-K

/X/ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2005

/ / Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File Number: 333-102791-01

College Loan Corporation Trust I

(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation or organization) 45-6110137
(I.R.S. Employer Identification No.)

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

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
       Yes   [__]      No   [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
       Yes   [__]      No   [X]

Indicate by check mark Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
       Yes   [X]      No [__]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [X]

           Not applicable.

Indicate by check mark whether the registrant is an accelerated filer (as defined in Exchange Act Rule 12b-2). Yes [__]     No [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.):Yes [__]     No [X]

State the aggregate market value of the voting and non-voting common equity held by nonaffiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter.

           Not applicable.

List hereunder the following documents if incorporated by reference and the Part of the Form 10-K into which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes.

          Not applicable.

This Annual Report on Form 10-K (the “Report”) is filed with respect to College Loan Corporation Trust I (the “Trust”). Certain information on this Annual Report on Form 10-K is omitted pursuant to the request for no-action letter forwarded to the Office of Chief Counsel Division of Corporate Finance, dated November 25, 1996 relating to Nellie Mae Education Funding, LLC, and the response of the SEC, dated December 20, 1996, to the no-action request (collectively, the “No-Action Request”).

PART I

Item 1. Business.

Omitted pursuant to the No-Action Request.

Item 2. Properties.

Reference is made to the Annual Statement attached hereto as Exhibit 99.1.

Item 3. Legal Proceedings.

The Registrant knows of no material pending legal proceedings.

Item 4. Submission of Matters to a Vote of Security Holders.

None.

PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

Each class of Notes is represented by one or more Notes registered in the name of Cede & Co., the nominee of The Depository Trust Company. To the knowledge of the Registrant, there is no established public trading market for the Notes.

Item 6. Selected Financial Data.

Omitted pursuant to the No-Action Request.

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation.

Omitted pursuant to the No-Action Request.

Item 7A. Quantitative and Qualitative Disclosures about Market Risk.

Not applicable.

Item 8. Financial Statements and Supplementary Data.

Omitted pursuant to the No-Action Request.

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures.

None.

Item 9A. Controls and Procedures

Omitted.

Item 9B. Other Information.

None.

PART III

Item 10. Directors and Executive Officers of the Registrant.

Omitted pursuant to the No-Action Request.

Item 11. Executive Compensation.

Omitted pursuant to the No-Action Request.

Item 12. Security Ownership of Certain Beneficial Owners and Management.

Each class of Notes is represented by one or more Notes registered in the name of Cede & Co., the nominee of The Depository Trust Company (“DTC”), and an investor holding an interest in the Trust is not entitled to receive a note representing such interest except in certain limited circumstances. Accordingly, Cede & Co. is the sole holder of record of Notes, which it held on behalf of brokers, dealers, banks and other direct participants in the DTC system as of December 31, 2005. Such direct participants may hold Notes for their own accounts or for the accounts of their customers. As of December 31, 2005, the following direct DTC participants held positions in the Notes representing interests in the Trust equal to or exceeding 5% of the total principal amount of each class of Notes on that date:

College Loan Corporation Trust I, Series 2003-2

Class	Participant	Quantity	Percentage
2003-2A-2	State Street Bank and
	Trust Company, N.A.	$  51,620,000	8	.7314%
2003-2A-2	BGI/IBT CO	$154,000,000	26	.0487%
2003-2A-2	Mellon Trust Company	$  81,525,000	13	.7897%
2003-2A-2	JPMorgan Chase Bank, N.A.	$284,110,000	48	.0565%
2003-2A-3	The Bank of New York	$  32,200,000	10	.4478%
2003-2A-3	Barclays Bank PLC	$  20,000,000	6	.4893%
2003-2A-3	Citibank	$  30,000,000	9	.7339%
2003-2A-3	JPMorgan Chase Bank, N.A.	$  41,000,000	13	.3030%
2003-2A-3	Mellon Trust Company	$  76,000,000	24	.6593%
2003-2A-3	State Street Bank and Trust
	Company, N.A.	$  50,750,000	16	.4666%
2003-2A-3	UBS Securities LLC	$  48,250,000	15	.6554%

College Loan Corporation Trust I, Series 2004-1

Class	Participant	Quantity	Percentage
2004-1A-1	BGI/IBT CO	$  85,000,000	29	.0102%
2004-1A-1	JPMorgan Chase
	Bank, N.A.	$  85,000,000	29	.0102%
2004-1A-1	Mellon Trust Company	$  76,000,000	25	.9386%
2004-1A-1	State Street Bank and
	Trust Company, N.A.	$  26,000,000	8	.8737%
2004-1A-1	UBS Securities LLC	$  15,000,000	5	.1195%
2004-1A-2	Barclays Bank PLC	$  30,000,000	9	.7720%
2004-1A-2	Investors Bank	$  32,000,000	10	.4235%
2004-1A-2	JPMorgan Chase Bank,
	N.A.	$  80,000,000	26	.0586%
2004-1A-2	UBS AG	$  85,000,000	27	.6873%
2004-1A-2	Goldman, Sachs & Co.	$  60,000,000	19	.5440%
2004-1A-3	The Bank of New York	$  75,000,000	18	.7500%
2004-1A-3	Citibank	$  42,000,000	10	.5000%
2004-1A-3	JPMorgan Chase Bank, N.A.	$  28,000,000	7	.0000%
2004-1A-3	State Street Bank and
	Trust Company, N.A.	$170,000,000	42	.5000%
2004-1A-3	JPMorgan/CCS2	$  28,000,000	7	.0000%
2004-1A-3	SSB-BK PFL	$  20,000,000	5	.0000%
2004-1A-4	The Bank of New York	$125,500,000	62	.7500%
2004-1A-4	Citibank	$  10,500,000	5	.2500%
2004-1A-4	JPMorgan Chase Bank,
	N.A.	$  24,000,000	12	.0000%
2004-1A-4	State Street Bank and
	Trust Company, N.A.	$  40,000,000	20	.0000%
2004-1B-1	Goldman, Sachs & Co.	$  36,800,000	36	.8000%
2004-1B-1	The Bank of New York	$  24,000,000	24	.0000%
2004-1B-1	JPMorgan/HSBC SI	$  10,000,000	10	.0000%
2004-1B-1	Northern Trust Co.	$  20,000,000	20	.0000%

College Loan Corporation Trust I, Series 2005-1

Class	Participant	Quantity	Percentage
2005-1A-1	The Bank of New York	$  11,000,000	5	.0926%
	State Street Bank
	and Trust Company, N.A.	$  25,000,000	11	.5741%
2005-1A-1	BGI/IBT CO	$  50,000,000	23	.1481%
2005-1A-1	Mellon Trust Company	$  32,000,000	14	.8148%
2005-1A-1	Investors Bank	$  15,000,000	6	.9444%
2005-1A-1	Northern Trust Co.	$  50,000,000	23	.1481%
2005-1A-1	UBS AG	$  25,000,000	11	.5741%
2005-1A-2	The Bank of New York	$  30,000,000	7	.6336%
2005-1A-2	JPMorgan/CCS2	$  30,000,000	7	.6336%
	State Street Bank
2005-1A-2	and Trust Company, N.A.	$  70,000,000	17	.8117%
2005-1A-2	Citibank	$208,000,000	52	.9262%
2005-1A-2	SEI Private	$  27,000,000	6	.8702%
2005-1A-4	The Bank of New York	$  62,000,000	31	.4721%
	Brown Brothers Harriman
2005-1A-4	& Co.	$  20,000,000	10	.1523%
2005-1A-4	Northern Trust Co.	$  20,000,000	10	.1523%
2005-1A-4	Citibank	$  65,000,000	32	.9949%
2005-1A-4	The Bank of New
	York/Barclays Bank PLC	$  30,000,000	15	.2284%
2005-1A-5	The Bank of New York	$  17,100,000	12	.4818%
2005-1A-5	Northern Trust Co.	$    8,000,000	5	.8394%
2005-1A-5	Goldman, Sachs & Co.	$  11,400,000	8	.3212%
2005-1B	The Bank of New York	$  17,100,000	42	.7500%
2005-1B	Brown Brothers Harriman & Co.	$    8,000,000	20	.0000%
2005-1B	Citibank	$  11,400,000	28	.5000%

Item 13.           Certain Relationships and Related Transactions.

                           (a) None.

                           (b) Omitted pursuant to the No-Action Request.

                           (c) Omitted pursuant to the No-Action Request.

Item 14           Principal Accountant Fees and Services.

                            Omitted.

Item 15.            Exhibits, Financial Statement Schedules, and Reports on Form 8-K.

                           (a) The following are filed as part of this report:

31.1 Certification pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002.

99.1 Annual statement for College Loan Corporation Trust I, for the period ending December 31, 2005.

99.2 Annual Servicers' Report, dated March 20, 2006.

99.3 Report of Independent Certified Public Accounting Firm, dated March 27, 2006, issued by Grant Thornton LLP.

                           (b)The following Current Reports on 8-K were filed by the Registrant during 2005 and through the date hereof:

January 18, 2005
February 2, 2005
February 15, 2005
March 15, 2005
April 15, 2005
May 16, 2005
June 15, 2005
July 15, 2005
August 15, 2005
September 15, 2005
October 17, 2005
November 15, 2005
December 15, 2005
January 17, 2006

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized:

College Loan Corporation


By: /s/ Cary Katz               
      Cary Katz
      Chief Executive Officer

INDEX TO EXHIBITS

Exhibit
Number

31.1.
Exhibit

Certification pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002.

99.1. Annual statement for College Loan Corporation Trust I, for the period ending December 31, 2005.

99.2. Annual Servicers’ Report, dated March 20, 2006.

99.3. Report of Independent Certified Public Accounting Firm, dated March 27, 2006, issued by Grant Thornton LLP.

EX-31

Exhibit 31.1

CERTIFICATION
Pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002

I, Cary Katz, certify that:

1. I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing servicing reports filed in respect of periods included in the year covered by this annual report, of College Loan Corporation Trust I;

2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report;

3. Based on my knowledge, the distribution or servicing information required to be provided to the trustee by the servicers under the servicing agreements, for inclusion in these reports is included in these reports;

4. Based on my knowledge and upon the annual compliance statement included in the reports and required to be delivered to the trustee in accordance with the terms of the servicing agreements, and except as disclosed in the reports, the servicers have fulfilled their obligations under the servicing agreements; and

5. The reports disclose all significant deficiencies relating to the servicers’ compliance with the minimum servicing standards based upon the report provided by an independent public accountant after conducting a review of the servicers in compliance with the Compliance Audits (Attestation Engagements) for Lenders and Lender Servicers Participating in the Federal Family Education Loan Program, that is included in these reports.

In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties: ACS Education Services, Inc., Great Lakes Educational Loan Services, Inc. and the Pennsylvania Higher Education Assistance Agency.

Date: March 30, 2006

/s/ Cary Katz      
Cary Katz
Chief Executive Officer

EX-99

Exhibit 99.1

Annual Statement of College Loan Corporation Trust I

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 the reporting period January 1, 2005 through December 31, 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
$57,100,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$100,000,000
$80,000,000
$100,000,000
$28,000,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$100,000,000
$0
$0
$0
$0
$0
$0
$0
$100,000,000
$50,000,000
$0
$0
$175,100,000
$55,600,000
$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 the reporting period January 1, 2005 through December 31, 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
$0
$0
$735,288
$2,375,084
$2,404,810
$2,298,726
$2,323,634
$2,322,553
$643,379
$1,422,019
$3,279,940
$3,287,120
$3,322,700
$3,369,841
$3,370,754
$3,115,605
$3,162,343
$3,200,964
$2,100,581
$2,320,196
$3,317,816
$3,342,418
$3,342,418
$3,342,418
$3,372,506
$3,372,506
$3,372,506
$3,321,754
$3,321,754
$3,321,754
$3,321,754
$1,350,016
$1,366,920
$1,374,656
$283,440
$3,435,075
$3,400,818
$3,474,288
$3,494,900
$3,453,143
$3,538,543
$3,553,852
$1,877,633
$1,056,500
$844,525
$832,405
$2,651,032
$19,955,888
$9,696,463
$8,772,642
$9,378,571
$12,422,415
$6,272,041
$3,525,680
$5,156,924
$9,586,769
$7,362,644
$5,299,635
$3,443,561
$1,197,408

(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
$0
$0
$0
$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
$0
$0
$0
$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
$0
$100,000,000
$100,000,000
$100,000,000
$100,000,000
$100,000,000
$100,000,000
$100,000,000
$0
$0
$25,000,000
$25,000,000
$0
$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 the reporting period January 1, 2005 through December 31, 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
2.876%
3.323%
3.324%
3.310%
3.324%
3.303%
3.337%
3.490%
3.365%
3.366%
3.352%
3.351%
3.327%
3.317%
3.357%
3.364%
3.377%
3.168%
3.397%
3.419%
3.419%
3.419%
3.415%
3.415%
3.415%
3.424%
3.424%
3.424%
3.424%
3.473%
3.477%
3.460%
2.456%
3.350%
3.389%
3.405%
3.414%
3.376%
3.385%
3.400%
3.146%
3.202%
3.486%
3.468%
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
3.08750%
3.29086%
3.29156%
3.29156%
3.29156%
3.29156%
3.29156%

3.33464%
3.33464%
3.33464%
3.33464%
3.33464%

Spread
0.03000%
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
3.11750%
3.43086%
3.49156%
3.34156%
3.40156%
3.45156%
3.48156%
3.544%
3.36464%
3.43464%
3.45464%
3.48464%
3.53464%
3.519%
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 during the reporting period January 1, 2005 through December 31, 2005;

Servicing fees           $13,897,203

(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 during the reporting period January 1, 2005 through December 31, 2005;

Fee        
Administration
Auction Agent
Market Agent
Calculation Agent
Broker-Dealer
Delaware Trustee
Trustee
Eligible Lender Trustee
Verification Agent Amount
$13,239,276
$103,149
$0
$0
$8,048,611
$5,000
$468,605
$25,000
*

*Verification Agent fees are included in Trustee fees above

(i) the amount of principal and interest received during the reporting period January 1, 2005 through December 31, 2005 relating to Financed Student Loans;

Amount of principal and interest received            $1,334,815,762

(j) the amount of the payment attributable to amounts in the Reserve Fund, the amount of any other withdrawals from the Reserve Fund during the reporting period January 1, 2005 through December 31, 2005 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      $ 9,750,000
Amount of any other withdrawals from the Reserve Fund                   $ 6,343,500
Ending Balance of Reserve Fund                                                              $49,262,250

(k) the portion, if any, of the payments made on the Notes as described in sections (a) or (b) above during the reporting period January 1, 2005 through December 31, 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 subsequent to the closing date of the series 2005-1 Notes;

Amounts paid to acquire Student Loans            $1,465,113,487

(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            $897,365

(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                                   $6,567,405,252

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%

EX-99

Exhibit 99.2

Annual Servicers’ Report

March 20, 2006

Fitch, Inc.
One State Street Plaza
New York, New York 10004

Moody’s Investors Service Inc.
99 Church Street
New York, New York 10007

Standard & Poor’s Rating Services,
a division of the McGraw-Hill Companies, Inc.
55 Water Street
New York, New York 10041

Deutsche Bank Trust Company Americas
60 Wall Street
New York, New York 10005

College Loan Corporation Trust I (the “Trust”)
c/o Wilmington Trust Company
Rodney Square North
1100 North Market Street
Wilmington, Delaware 19890

As an officer of College Loan Corporation, the issuer administrator of the Trust, I hereby certify that:

1. a review of the activities of the servicers during the preceding calendar year and of their performance under the servicing agreements has been made under my supervision; and

2. to the best of my knowledge, based on such review, the servicers have fulfilled all of their obligations under the servicing agreements throughout the period ended December 31, 2005, and there have been no known defaults in the fulfillment of such obligations.

/s/ Cary Katz          
Cary Katz
Chief Executive Officer

EX-99

Exhibit 99.3

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To College Loan Corporation Trust I
c/o College Loan Corporation

We have examined the assertion made by management on College Loan Corporation’s compliance with Article V, paragraph 1 of Section 5.05 and Article XI, Section 11.01 of the Amended and Restated Indenture of Trust, dated as of October 1, 2003, between College Loan Corporation Trust I, as Issuer, and Deutsche Bank Trust Company Americas as Indenture Trustee, for the year ended December 31, 2005 included in the accompanying management assertion. Management is responsible for the Trust’s compliance with those requirements. Our responsibility is to express an opinion on management’s assertion about the Trust’s compliance based on our examination.

Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Trust’s compliance with the requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Trust’s compliance with specified requirements.

In our opinion, management’s assertion that the Trust complied with the aforementioned requirements as of and for the year ended December 31, 2005 is fairly stated, in all material respects.

/s/ Grant Thornton LLP
March 27, 2006