-----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, DZ/Puk5DBLyS2/GalCdilPpUMFyt90tf8ylSMRyXExhiSRorq8KzXgFY8X0AedrW TrLZ3uaQgNYmC5P6lg3haA== 0001268360-04-000001.txt : 20040116 0001268360-04-000001.hdr.sgml : 20040116 20040115180045 ACCESSION NUMBER: 0001268360-04-000001 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031231 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040116 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: 04528218 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: 04528217 BUSINESS ADDRESS: STREET 1: 1100 N MARKET ST CITY: WILMINGTON STATE: DE ZIP: 19890 BUSINESS PHONE: 302-636-6071 8-K 1 college-8k_011504.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): December 31, 2003


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 		01-6110137
33-087395
(State or other jurisdiction of
incorporation or organization)		 (Commission File Number) (I.R.S. employer identification number)


16855 W. Bernardo Drive, Suite 270 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.

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.

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 15, 2004 		College Loan Corporation, as Co-Registrant

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







Dated: January 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.
EX-20 3 college-ex201_011504.htm EX-20.1 Ex-20.1

EXHIBIT 20.1

College Loan Corporation Trust I Series 2003-2
Statement to Note Holders
As of and for the period ended: 12/31/2003

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 2003; 


  Series     Class     Principal Paid
  ------     -----     --------------
   2002       A-1               $0.00
   2002       A-2      $32,850,000.00
   2002       A-3      $14,150,000.00
   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
(b) the amount of payments with respect to each series of Notes paid with respect to interest during December 2003; 


  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       $3,370,958.72
  2003-2      A-1               $0.00
  2003-2      A-2               $0.00
  2003-2      A-3               $0.00
(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 December 2003;

Principal Balance of Financed Student Loans      $4,860,732,224.06

(e) the aggregate outstanding principal amount of the Notes of each series as of the close of business on the last day of December 2003, 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              $58,850,000.00
    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             $345,000,000.00
   2003-2      A-2             $646,800,000.00
   2003-2      A-3             $308,200,000.00
(f) the interest rate for any series of variable rate Notes for December 2003, 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       1.0884%
   Series     Class    Libor Rate    Spread      Rate      Interest Calculation
   ------     -----    ----------    ------      ----      --------------------
    2003-2     A-1       1.155%       0.03%     1.185%      Floating Rate Note
    2003-2     A-2       1.155%       0.14%     1.295%      Floating Rate Note
    2003-2     A-3       1.155%       0.20%     1.355%      Floating Rate Note
(g) the amount of the servicing fees allocated to the Servicers as of the close of business on the last day of December 2003;

Servicing fees      $566,929.43

(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 2003; 

            Fee                      Amount
            ---                      ------
             Administration     $409,915.95
              Auction Agent       $3,211.76
               Market Agent           $0.00
          Calculation Agent           $0.00
              Broker-Dealer     $784.922.15
           Delaware Trustee       $2,000.00
                    Trustee      $37,940.82
    Eligible Lender Trustee           $0.00
         Verification Agent         $600.00
(i) the amount of principal and interest received during December 2003 relating to Financed Student Loans;

Amount of principal and interest received      $76,589,558.31

(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 2003; 

      Amount of payment attributable to amounts in the Reserve Fund    $32,835.02
      Amount of any other withdrawals from the Reserve Fund                 $0.00
      Ending Balance of Reserve Fund                               $39,032,835.02
(k) the portion, if any, of the payments made on the Notes as described in sections (a) or (b) above during December 2003 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 2003-2 Notes;

Amounts paid to acquire Student Loans      $51,269,223.83

(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 December 2003;

Amounts paid for Financed Student Loans purchased from the Trust       $6,199.44

(o) the number and principal amount of Financed Student Loans, as of the close of business on the last day of December 2003, 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               402214    $4,663,314,509.60
       (ii)  31 to 60 days delinquent                7860      $104,205,213.62
      (iii)  61 to 90 days delinquent                2970       $37,218,248.63
       (iv)  91 to 120 days delinquent               1633       $18,879,789.14
        (v)  > 120 day delinquent                    2968       $34,160,062.56
       (vi)  & claims filed                           300        $2,954,400.51
                                                      ---        -------------
               Total                               417945    $4,860,732,224.06
(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 2003; and 

      Value of the Trust Estate                    $5,053,338,951.66
      Outstanding Principal amount of the Notes    $5,112,350,000.00
(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 December 2003. 

                                                                              Number      Percentage
                                                                              ------      ----------
           (i)     Outstanding rejected federal reimbursement claims            10         0.00%
           (ii)    Financed Student Loans in forbearance                     25322         9.89%
           (iii)   Financed Student Loans in deferment                       38276        12.69%
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