Exhibit 99.1
Annual Statement of College Loan Corporation Trust I
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; |
| (d) | the principal balance of Financed Student Loans as of the close of business on the last day of December 2005; |
| (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; |
| (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; |
| (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; |
| (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; |
| (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; |
| (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; |
| (n) | the aggregate amount, if any, paid for Financed Student Loans purchased from the Trust during December 2005; |
| (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 11,138,1926,190,443,530 |
| (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 |
| (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%
