EXHIBIT 20.1
College Loan Corporation Trust I Series 2003-2
Statement to Note Holders
As of and for the period ended: 11/30/2003
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 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 November 2003; |
Series Class Principal Paid
------ ----- --------------
2002 A-1 $0.00
2002 A-2 $40,650,000.00
2002 A-3 $0.00
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 November 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 $3,540,526.07
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 November 2003;
Principal Balance of Financed Student Loans $ 4,882,991,355.68 |
| (e) | the aggregate outstanding principal amount of the Notes of each series as of the close of business on the last day of November 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 $32,850,000.00
2002 A-3 $73,000,000.00
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 November 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 1.0857%
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 November 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 November 2003; |
Fee Amount
--- -------
Administration $446,798.87
Auction Agent $3,215.12
Market Agent $0.00
Calculation Agent $0.00
Broker-Dealer $812,869.08
Delaware Trustee $0.00
Trustee $24,483.33
Eligible Lender Trustee $0.00
Verification Agent $600.00
| (i) | the amount of principal and interest received during November 2003 relating to Financed Student Loans;
Amount of principal and interest received $68,887,373.77 |
| (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 November 2003; |
Amount of payment attributable to amounts in the Reserve Fund $0.00
Amount of any other withdrawals from the Reserve Fund $0.00
Ending Balance of Reserve Fund $39,000,000.00
| (k) | the portion, if any, of the payments made on the Notes as described in sections (a) or (b) above during November 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 $216,579,267.85 |
| (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 November 2003;
Amounts paid for Financed Student Loans purchased from the Trust $0.00 |
| (o) | the number and principal amount of Financed Student Loans, as of the close of business on the last day of November 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 400,226 $4,697,048,580.58
(ii) 31 to 60 days delinquent 6,737 $92,890,770.94
(iii) 61 to 90 days delinquent 3,094 $40,119,832.66
(iv) 91 to 120 days delinquent 1,642 $20,007,566.07
(v) > 120 day delinquent 2,603 $29,774,319.69
(vi) & claims filed 302 $3,150,285.74
--- -------------
Total 414,604 $4,882,991,355.68
| (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 November 2003; and |
Value of the Trust Estate $5,090,592,619.19
Outstanding Principal amount of the Notes $5,159,350,000.00
| (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 November 2003. |
Number Percentage
------- ----------
(i) Outstanding rejected federal reimbursement claims 9 0.00%
(ii) Financed Student Loans in forbearance 24,587 9.73%
(iii) Financed Student Loans in deferment 37,058 12.38%
