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                                    SEC FILE NUMBER
                                      811-05291
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                                     CUSIP NUMBER
                                       820300
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                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                               -----------------

                                  FORM 12b-25

                               -----------------

                          NOTIFICATION OF LATE FILING

  (Check one)  [_] Form 10-K   [_] Form 20-F   [_] Form 11-K   [_] Form 10-Q
               [_] Form 10-D   [_] Form N-SAR  [X] Form N-CSR

               For Period Ended: November 30, 2012

               [_] Transition Report on Form 10-K
               [_] Transition Report on Form 20-F
               [_] Transition Report on Form 11-K
               [_] Transition Report on Form 10-Q
               [_] Transition Report on Form N-SAR

               For the Transition Period Ended:

 ------------------------------------------------------------------------------
 Read Instruction (on back page) Before Preparing Form. Please Print or Type.
   Nothing in this form shall be construed to imply that the Commission has
                  verified any information contained herein.
 ------------------------------------------------------------------------------

If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:

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                       PART I -- REGISTRANT INFORMATION

                  College and University Facility Loan Trust One
                           (Full Name of Registrant)

                          (Former Name if Applicable)

             c/o US Bank National Association One Federal Street
          (Address of Principal Executive Office (Street and Number))

                              Boston, MA 02110
                          (City, State and Zip Code)


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                      PART II -- RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following
should be completed. (Check box if appropriate)

     (a)  The reason described in reasonable detail in Part III of this form
          could not be eliminated without unreasonable effort or expense;

     (b)  The subject annual report, semi-annual report, transition report on
          Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or
[X]       portion thereof, will be filed on or before the fifteenth calendar
          day following the prescribed due date; or the subject quarterly
          report or transition report on Form 10-Q or subject distribution
          report on Form 10-D, or portion thereof, will be filed on or before
          the fifth calendar day following the prescribed due date; and

     (c)  The accountant's statement or other exhibit required by Rule
          12b-25(c) has been attached if applicable.

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                             PART III -- NARRATIVE

The Registrant is organized as a Massachusetts business trust for which US Bank
National Association currently serves as Owner Trustee. For information
relating to the activities and assets of the Trust, the Owner Trustee, pursuant
to the governing Declaration of Trust and related agreements, relies on
specified service providers, whose information for the Trust's fiscal period
ended November 30, 2012, has not yet been confirmed to the Owner Trustee so as
to permit the execution and filing the Registrant's Form N-CSR and related
certification. The Registrant expects to file a complete Report on Form N-CSR
within the time period permitted pursuant to this Notification of Form 12b-25.

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                         PART IV -- OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this
    notification

        Laura S Cawley                 617                 603 6452
 -------------------------------  -------------  ------------------------------
            (Name)                (Area Code)         (Telephone Number)

(2) Have all other periodic reports required under Section 13 or 15(d) of the
    Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
    of 1940 during the preceding 12 months or for such shorter period that the
    registrant was required to file such report(s) been filed? If answer is no,
    identify report(s).  [X] Yes  [_] No

(3) Is it anticipated that any significant change in results of operations from
    the corresponding period for the last fiscal year will be reflected by the
    earnings statements to be included in the subject report or portion
    thereof?  [_] Yes  [X] No

   If so, attach an explanation of the anticipated change, both narratively
   and quantitatively, and, if appropriate, state the reasons why a reasonable
   estimate of the results cannot be made.




================================================================================

                 College and University Facility Loan Trust One
                  (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

                                      By:  US Bank National Association, not in
                                           its individual capacity, but solely
                                           as Owner Trustee under a Declaration
                                           of Trust, dated September 17, 1987
                                           and Amended and restated on
                                           September 29, 1987, and December 4,
                                           1989.

Date  February 7, 2013                By  /s/ Laura S Cawley, Vice President

INSTRUCTION: The form may be signed by an executive officer of the registrant
or by any other duly authorized representative. The name and title of the
person signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority
to sign on behalf of the registrant shall be filed with the form.

                                   ATTENTION

  Intentional misstatements or omissions of fact constitute Federal Criminal
                        Violations (See 18 U.S.C. 1001).

                            GENERAL INSTRUCTIONS

1. This form is required by Rule 12b-25 (17 CFR 240. 12b-25) of the General
Rules and Regulations under the Securities Exchange Act of 1934.

2. One signed original and four conformed copies of this form and amendments
thereto must be completed and filed with the Securities and Exchange
Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the
General Rules and Regulations under the Act. The information contained in or
filed with the form will be made a matter of public record in the Commission
files.

3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities of
the registrant is registered.

4. Amendments to the notifications must also be filed on Form 12b-25 but need
not restate information that has been correctly furnished. The form shall be
clearly identified as an amended notification.

5. Electronic Filers:  This form shall not be used by electronic filers
unable to timely file a report solely due to electronic difficulties. Filers
unable to submit reports within the time period prescribed due to
difficulties in electronic filing should comply with either Rule 201 or
Rule 202 of Regulation S-T ((S)232.201 or (S)232.202 of this chapter) or
apply for an adjustment in filing date pursuant to Rule 13(b) of Regulation
S-T ((S)232.13(b) of this chapter).

6. Interactive data submissions. This form shall not be used by electronic
filers with respect to the submission or posting of an Interactive Data File
((S)232.11 of this chapter). Electronic filers unable to submit or post an
Interactive Data File within the time period prescribed should comply with
either Rule 201 or 202 of Regulation S-T ((S)232.201 and (S)232.202 of this
chapter).