SLC Student Loan Receivables I 8-K Other events

U.S. 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: June 30, 2003

(Date of earliest event reported)

SLC Student Loan Receivables I, Inc.

SLC Student Loan Trust-I

(Exact name of registrant as specified in its charter)

SLC Student Loan Trust-I, Student Loan Asset Backed Notes, Series 2002-1 and Series 2002-2

(Name of Issue)

Delaware		04-3598719
Delaware	333-75952	04-6959982
(States of Incorporation)	(Commision File No.)	(I.R.S. Employer Identification Nos.)
750 Washington Boulevard
Stamford, Connecticut		06901
Address of principal executive office		(Zip Code)

(203) 975-6923

(203) 975-6112

Registrant's Telephone Number, including area code

(Former name, former address and former fiscal year, if changed since last report)

                            

ITEM 5.      Other Events

See the monthly statement attached as Exhibit 20.1 hereto distributed to holders of SLC Student Loan Trust-I, Student Loan Asset Backed Notes, Series 2002-1 and Series 2002-2.

ITEM 7.      Financial Statements and Exhibits

                   (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K

Exhibit No.	Description
20.1	Monthly statement distributed to holders of SLC
	Student Loan Trust-I, Student Loan Asset
	Backed Notes, Series 2002-1 and Series 2002-2
	for the period ended June 30, 2003.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.

	By:   THE STUDENT LOAN CORPORATION, AS
	SERVICER
July 17, 2003
	By:         /s/ Steven J. Gorey
	Name:      Steven J. Gorey
	Title:       Chief Financial Officer

	INDEX TO EXHIBITS
Exhibit No.	Description
20.1	Monthly statement distributed to holders of SLC Student Loan Trust-I,     Student Loan Asset Backed Notes, Series 2002-1 and 2002-2 for the     period ended June 30, 2003.

Exhibit 20.1

SLC Student Loan Trust - I
Statement to Note Holders
As of and for the period ended June 30, 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 is believed to be accurate to the best of the issuer's knowledge.
(a) The amount of payments with respect to each Class paid with respect to principal during June 2003;
Class	Principal Paid
A-1	$1,850,000.00
A-2	$1,850,000.00
A-3	$1,850,000.00
A-4	$0.00
A-5	$2,150,000.00
A-6	$0.00
A-7	$0.00
B-1	$0.00
B-2	$0.00
(b) The amount of payments with respect to each Class paid with respect to interest during June 2003;
Class	Interest Paid
A-1	$57,078.27
A-2	$57,078.27
A-3	$56,652.48
A-4	$61,405.12
A-5	$66,578.58
A-6	$65,559.12
A-7	$67,598.04
B-1	$16,604.20
B-2	$10,340.82
(c) The amount of payments allocable to any Noteholders' Auction Rate Interest Carryover (for each Class of Auction Rate Notes only), together with any remaining outstanding amount of each thereof;
	Interest Carryover
Auction Rate Notes	$0.00
(d) The principal balance of Financed Eligible Loans as of June 30, 2003;
Principal Balance of Financed Eligible Loans                       $429,471,864.52
(e) The aggregate outstanding amount of the Notes of each Class as of June 30, 2003, after giving effect to payments allocated to principal reported under clause (a) above;
Class	Principal Outstanding
A-1	$54,175,000.00
A-2	$54,175,000.00
A-3	$54,175,000.00
A-4	$60,725,000.00
A-5	$63,200,000.00
A-6	$65,350,000.00
A-7	$65,350,000.00
B-1	$15,250,000.00
B-2	$10,150,000.00

(f) The interest rate for the applicable Class of Notes with respect to each payment referred to in clause (b) above, indicating whether such interest rate is calculated based on the Net Loan Rate or based on the applicable Auction rate (for each Class of the Auction Rate Notes only) as of June 30, 2003;

Class	Calculation Method
	(Actual Method in Bold)
	Net Loan Rate	Auction Rate
A-1	N/A	1.2700%
A-2	N/A	1.1790%
A-3	N/A	1.1200%
A-4	N/A	1.3000%
A-5	N/A	1.3100%
A-6	N/A	1.2790%
A-7	N/A	1.3000%
B-1	N/A	1.3000%
B-2	N/A	1.3900%
(g) The amount of the Servicing Fees paid by the Trust during June 2003;
Servicing Fees	$43,482.04
(h) The amount of the Administration Fee, Broker/Dealer Fee, Auction Agent Fee and Trustee Fee paid by the Trust during June 2003;
Administration Fee	$1,309.70
Broker/Dealer Fee	$87,548.60
Auction Agent Fee	$0.00
Trustee Fee	$0.00
(i) The amount of Net Losses, if any, during June 2003 and any recoveries of principal and interest received during June 2003 relating to Financed Student Loans for which Net Losses were previously allocated;
Net Losses	$1,783.39
Recoveries	$0.00

(j) The amount of the payments attributable to amounts in the Reserve Fund, the amount of any other withdrawals from the Reserve Fund during June 2003 and the balance of the Reserve Fund as of June 30, 2003;
	Payments	Withdrawals	Balance
Reserve Fund	$4,988.19	$1,981,002.00	$5,773,610.28

(k) The portion, if any, of the payments attributable to amounts on deposit in the Loan Fund;
The portion of payments attributable to the Loan Fund	$0.00
(l) The aggregate amount, if any, paid by the Trustee to acquire Eligible Loans from amounts on deposit in the Loan Account with respect to each Series of the Student Loan Fund during June 2003;

	Principal	Interest	Premium
Loan Acquisitions	$0.00	$0.00	$0.00

(m) The amount remaining in the Loan Account with respect to each Series of the Student Loan fund that has not been used to acquire Eligible Loans and is being transferred to the Note Redemption Fund;

        Transfers from Loan Fund to Redemption Fund                                              $0.00

(n) The aggregate amount, if any, paid for Financed Student Loans purchased from the Trust during June 2003;

        Loans sold from the Trust (principal, interest, and premium)                        $0.00

(o) The number and principal amount of Financed Student Loans, as of June 30, 2003, that are (i) 31 to 60 days delinquent, (ii) 61 to 90 days delinquent, (iii) 91 to 120 days delinquent, (iv) more than 120 days delinquent and (v) for which claims have been filed with the appropriate Guaranty Agency and which are awaiting payment;

		Principal	% of Total Principal
Delinquencies	Number of Loans	Outstanding	Outstanding
31 - 60 days	348	$6,252,309.90	1.5%
61 - 90 days	105	$2,200,204.77	0.5%
91 - 120 days	117	$2,143,461.83	0.5%
121 - 150 days	84	$1,493,210.49	0.3%
151 - 180 days	73	$1,309,319.51	0.3%
181 - 210 days	52	$1,041,295.91	0.2%
211 - 240 days	60	$897,154.71	0.2%
241 - 270 days	0	$0.00	0.0%
Claims Pending	90	$1,384,321.46	0.3%
Claims Filed	23	$401,637.38	0.1%
(p) The total Value of the Trust Estate and the outstanding principal amount of the Notes as of June 30, 2003.
Assets
Cash & Cash Equivalents	$7,935,559.69
Student Loan Receivables	$429,471,864.52
Reserves	$5,773,610.28
Other Loan Receivables	$4,013,482.33
Total Assets	$447,194,516.82
Liabilities
Class A-1	$54,175,000.00
Class A-2	$54,175,000.00
Class A-3	$54,175,000.00
Class A-4	$60,725,000.00
Class A-5	$63,200,000.00
Class A-6	$65,350,000.00
Class A-7	$65,350,000.00
Class B-1	$15,250,000.00
Class B-2	$10,150,000.00
Accrued Liabilities	$693,708.16
Total Liabilities	$443,243,708.16

Parity Ratio (Notes Only)	101.05%
Parity Ratio (All Liabilities)	100.89%
Parity Ratio (Senior Liabilities)	107.20%
(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 June 30, 2003.
		Principal	% of Total Principal
Delinquencies	Number of Loans	Outstanding	Outstanding
Rejected Claims	0	$0.00	0.0%
Loans in Forbearance	1,463	$31,960,465.99	7.4%
Loans in Deferment	2,437	$48,988,001.75	11.4%

A copy of the statements referred to above may be obtained by any Note Holder by a written request to the Trustee, addressed to its Corporate Trust Office.