**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**__________________**

**FORM          10-K**

**__________________**

| **x**      | **ANNUAL                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934**     |   |
|------------|-------------------------------------------------------------------------------------------------------------------------------------------|--------|
|       |                                                                                                                                      |   |
|       | **For                the fiscal year ended December 31, 2006**                                                                            |   |
|       |                                                                                                                                      |   |
|       | **OR**                                                                                                                                    |   |
|       |                                                                                                                                      |   |
| ** ̈** | **TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934** |   |
|       |                                                                                                                                      |   |
|       | **For                the transition period from ___ to ___**                                                                              |   |

**Commission      File Number of issuing entity: 333-133028-01**

**SLC      STUDENT LOAN TRUST 2006-1**

**SLC      STUDENT LOAN RECEIVABLES I, INC. **

**THE      STUDENT LOAN CORPORATION**

|                                                                                                                                        |   |                                                                                          |
|---------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------|
| **Delaware**(State                or other jurisdiction ofincorporation                or organization of theissuing                entity) |   | **04-3598719**(I.R.S.                Employer Identification No. of                depositor) |

| **750                Washington Blvd.****Stamford,                Connecticut**(Address                of principal executive officesof                issuing entity) |    |  **06901**(Zip                Code) |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|------------------------------------------|

**(203)      975-6320**

| **__________________**                                                                                         |
|----------------------------------------------------------------------------------------------------------------|
|  **Securities                Registered Pursuant to Section 12(b) of the Act:                None**  |
| **Securities                Registered Pursuant to Section 12(g) of the Act:                None**        |

| Yes   o | No   x |
|------------------------|-----------------------|

| Yes   o | No   x |
|------------------------|-----------------------|

| Yes   x | No   o |
|------------------------|-----------------------|

| Large                Accelerated Filer o | Accelerated                Filer o | Non-accelerated                Filer x |
|------------------------------------------|------------------------------------|----------------------------------------|

| Yes   o | No   x |
|------------------------|-----------------------|

**PART      I  **

| Item                1.               | Business                                                                |
|-------------------------------------------|------------------------------------------------------------------------------|
| Item                1A.              | Risk              Factors                                               |
| Item                2.               | Properties                                                              |
| Item                3.                    | Legal              Proceedings                                     |
| Item                4.                    | Submission              of Matters to a Vote of Security Holders   |
|                                      |                                                                         |
|                                      |                                                                         |
| Item                1B.    | Unresolved              Staff Comments                                  |
|                                      |                                                                         |
| None                                 |                                                                         |

**PART      II**

| Item                5.               | Market              for Registrant’s Common Equity and Related Stockholder Matters                                     |
|-------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------|
| Item                6.               | Selected              Financial Data                                                                                         |
| Item                7.          | Management’s              Discussion and Analysis of Financial Condition and Results of              Operations   |
| Item                7A.    | Quantitative              and Qualitative Disclosures About Market Risk                                                      |
| Item                8.          | Financial              Statements and Supplementary Data                                                                |
| Item                9.          | Changes              in and Disagreements With Accountants on Accounting and Financial              Disclosure          |
| Item                9A.    | Controls              and Procedures                                                                                         |
|                                      |                                                                                                                              |
|                                      |                                                                                                                              |
| Item              9A(T).             | Controls              and Procedures                                                                                         |
|                                      |                                                                                                                              |
| Not                applicable        |                                                                                                                              |
|                                      |                                                                                                                              |
| Item              9B.           | Other              Information                                                                                               |
|                                      |                                                                                                                              |
| None                                 |                                                                                                                              |

**PART      III**

| Item                10.         | Directors, Executive              Officers and Corporate Governance                                              |
|-------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------|
| Item                11.    | Executive              Compensation                                                                                             |
| Item                12.              | Security              Ownership of Certain Beneficial Owners and Management and Related              Stockholder Matters   |
| Item                13.    | Certain              Relationships and Related Transactions, and Director              Independence                             |
| Item                14.    | Principal              Accounting Fees and Services                                                                             |

**PART      IV**

|   | Exhibit                4.1      | Indenture,                dated as of June 28, 2006, among SLC Student Loan Trust 2006-1 (the                “Trust”), Citibank, N.A., as eligible lender trustee (in such capacity,                the “Eligible Lender Trustee”) and as indenture administrator, and U.S.                Bank National Association, as indenture trustee (the “Indenture Trustee”),                incorporated by reference from Exhibit 4.1 of the registrant’s Current                Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)  |
|--------|--------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit                4.2      | Amended                and Restated Trust Agreement, dated as of June 28, 2006, between                SLC                Student Loan Receivables I, Inc. (the “Depositor”) and Wilmington Trust                Company, as owner trustee, incorporated by reference from Exhibit                4.2 of                the registrant’s Current Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                                                                                    |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit                4.3      | Eligible                Lender Trust Agreement, dated as of June 28, 2006, between the Depositor                and the Eligible Lender Trustee, incorporated by reference from Exhibit                4.3 of the registrant’s Current Report on Form 8-K filed June 30, 2006                (File No. 333-133028-01)                                                                                                                                                                                                                                                                          |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit                4.4      | Eligible                Lender Trust Agreement, dated as of June 28, 2006, between the Trust                and                the Eligible Lender Trustee, incorporated by reference from Exhibit                4.4 of                the registrant’s Current Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                                                                                                                                                                                |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              10         | Incorporated                by reference as Exhibit 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              31*   | Certification              Pursuant to Section 302(a) of the Sarbanes-Oxley Act of              2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              33.1*      | Management              Assessment of Compliance with Applicable Servicing Criteria, dated              March              20, 2007, of The Student Loan Corporation, as Servicer and              Administrator                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              33.2*      | Management                Assessment of Compliance with Applicable Servicing Criteria, dated                March                22, 2007, of Citibank (South Dakota), National Association, as Custodian                and Subservicer                                                                                                                                                                                                                                                                                                                                                                  |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              33.3*      | Management                Assessment of Compliance with Applicable Servicing Criteria, dated                February 27, 2007, of CitiMortgage, Inc., as                Subadministrator                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              33.4*      | Management                Assessment of Compliance with Applicable Servicing Criteria, dated                February 28, 2007, of Citibank, N.A., as Indenture                Administrator                                                                                                                                                                                                                                                                                                                                                                                                               |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              34.1*      | Report                of Independent Registered Public Accounting Firm, dated March 20,                2007, of                KPMG LLP, relating to Exhibit 33.1                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              34.2*      | Report                of Independent Registered Public Accounting Firm, dated March 22,                2007, of                KPMG LLP, relating to Exhibit 33.2                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              34.3*      | Report                of Independent Registered Public Accounting Firm, dated February                27, 2007,                of KPMG LLP, relating to Exhibit 33.3                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              34.4*      | Report                of Independent Registered Public Accounting Firm, dated February                28, 2007,                of KPMG LLP, relating to Exhibit 33.4                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              35.1*      | Servicer                Compliance Statement, dated March 20, 2007, of The Student Loan                Corporation, as Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit              35.2*      | Servicer                Compliance Statement, dated March 22, 2007, of Citibank (South Dakota),                National Association, as Subservicer                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit                99.1          | Master                Terms Purchase Agreement, dated as of June 28, 2006, between The                Student                Loan Corporation, as seller, the Depositor, as purchaser, and the                Eligible                Lender Trustee on behalf of the Student Loan Corporation and the                Depositor, incorporated by reference from Exhibit 99.1 of the registrant’s                Current Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                    |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit                99.2          | Master                Terms Sale Agreement, dated as of June 28, 2006, between the Depositor,                as                seller, the Trust, as purchaser, and the Eligible Lender Trustee                on behalf                of the Depositor and the Trust, incorporated by reference from Exhibit                99.2 of the registrant’s Current Report on Form 8-K filed June 30, 2006                (File No. 333-133028-01)                                                                                                                                                       |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit                99.3          | Servicing                Agreement, dated as of June 28, 2006, between the Trust and The Student                Loan Corporation, as servicer (in such capacity, the “Servicer”),                incorporated by reference from Exhibit 99.3 of the registrant’s Current                Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                                                                                                                                                  |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit                99.4          | Subservicing                Agreement, dated as of June 28, 2006, between the Servicer and Citibank                (South Dakota), National Association, incorporated by reference from                Exhibit 99.4 of the registrant’s Current Report on Form 8-K filed June 30,                2006 (File No. 333-133028-01)                                                                                                                                                                                                                                                                      |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit                99.5          | Administration                Agreement, dated as of June 28, 2006, between the Trust and The Student                Loan Corporation, as administrator (in such capacity, the                “Administrator”), incorporated by reference from Exhibit 99.5 of the                registrant’s Current Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                                                                                                                                   |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit                99.6          | Sub-Administration                Agreement, dated as of June 28, 2006, between the Administrator and                CitiMortgage, Inc, incorporated by reference from Exhibit 99.6 of                the                registrant’s Current Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                                                                                                                                                                                                        |
|   |                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Exhibit                99.7          | Custody                Agreement, dated as of June 28, 2006, among the Trust, the Eligible                Lender                Trustee, the Indenture Trustee and Citibank (South Dakota), National                Association, as custodian, incorporated by reference from Exhibit 99.7 of                the registrant’s Current Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                                                                                                                |

**SIGNATURES**

| Exhibit              4.1         | Indenture,                  dated as of June 28, 2006, among SLC Student Loan Trust 2006-1                  (the                  “Trust”), Citibank, N.A., as eligible lender trustee (in such capacity,                  the “Eligible Lender Trustee”) and as indenture administrator, and U.S.                  Bank National Association, as indenture trustee (the “Indenture Trustee”),                  incorporated by reference from Exhibit 4.1 of the registrant’s Current                  Report on Form 8-K filed June 30, 2006 (File No.                  333-133028-01) |
|----------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              4.2    | Amended                  and Restated Trust Agreement, dated as of June 28, 2006, between                  SLC                  Student Loan Receivables I, Inc. (the “Depositor”) and Wilmington Trust                  Company, as owner trustee, incorporated by reference from Exhibit                  4.2 of                  the registrant’s Current Report on Form 8-K filed June 30, 2006 (File No.                  333-133028-01)                                                                                                                                                                    |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              4.3    | Eligible                  Lender Trust Agreement, dated as of June 28, 2006, between the                  Depositor                  and the Eligible Lender Trustee, incorporated by reference from                  Exhibit                  4.3 of the registrant’s Current Report on Form 8-K filed June 30, 2006                  (File No. 333-133028-01)                                                                                                                                                                                                                                                              |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              4.4    | Eligible                  Lender Trust Agreement, dated as of June 28, 2006, between the                  Trust and                  the Eligible Lender Trustee, incorporated by reference from Exhibit                  4.4 of                  the registrant’s Current Report on Form 8-K filed June 30, 2006 (File No.                  333-133028-01)                                                                                                                                                                                                                                                                  |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit 10                  | Incorporated                by reference as Exhibit 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              31*    | Certification              Pursuant to Section 302(a) of the Sarbanes-Oxley Act of              2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              33.1*  | Management                Assessment of Compliance with Applicable Servicing Criteria, dated                March                20, 2007, of The Student Loan Corporation, as Servicer and                Administrator                                                                                                                                                                                                                                                                                                                                                                                                           |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              33.2*  | Management                Assessment of Compliance with Applicable Servicing Criteria, dated                March                22, 2007, of Citibank (South Dakota), National Association, as Custodian                and Subservicer                                                                                                                                                                                                                                                                                                                                                                                           |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              33.3*  | Management                Assessment of Compliance with Applicable Servicing Criteria, dated                February 27, 2007, of CitiMortgage, Inc., as                Subadministrator                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              33.4*  | Management                Assessment of Compliance with Applicable Servicing Criteria, dated                February 28, 2007, of Citibank, N.A., as Indenture                Administrator                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              34.1*  | Report                of Independent Registered Public Accounting Firm, dated March 20,                2007, of                KPMG LLP, relating to Exhibit 33.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              34.2*  | Report                of Independent Registered Public Accounting Firm, dated March 22,                2007, of                KPMG LLP, relating to Exhibit 33.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              34.3*  | Report                of Independent Registered Public Accounting Firm, dated February                27, 2007,                of KPMG LLP, relating to Exhibit 33.3                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              34.4*  | Report                of Independent Registered Public Accounting Firm, dated February                28, 2007,                of KPMG LLP, relating to Exhibit 33.4                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit              35.1*  | Servicer                Compliance Statement, dated March 20, 2007, of The Student Loan                Corporation, as Servicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit                35.2*     | Servicer                Compliance Statement, dated March 22, 2007, of Citibank (South Dakota),                National Association, as Subservicer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit                99.1      | Master                Terms Purchase Agreement, dated as of June 28, 2006, between The                Student                Loan Corporation, as seller, the Depositor, as purchaser, and the                Eligible                Lender Trustee on behalf of the Student Loan Corporation and the                Depositor, incorporated by reference from Exhibit 99.1 of the registrant’s                Current Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                                             |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit                99.2      | Master                Terms Sale Agreement, dated as of June 28, 2006, between the Depositor,                as                seller, the Trust, as purchaser, and the Eligible Lender Trustee                on behalf                of the Depositor and the Trust, incorporated by reference from Exhibit                99.2 of the registrant’s Current Report on Form 8-K filed June 30, 2006                (File No. 333-133028-01)                                                                                                                                                                                |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit                99.3      | Servicing                Agreement, dated as of June 28, 2006, between the Trust and The Student                Loan Corporation, as servicer (in such capacity, the “Servicer”),                incorporated by reference from Exhibit 99.3 of the registrant’s Current                Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                                                                                                                                                                           |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit                99.4      | Subservicing                Agreement, dated as of June 28, 2006, between the Servicer and Citibank                (South Dakota), National Association, incorporated by reference from                Exhibit 99.4 of the registrant’s Current Report on Form 8-K filed June 30,                2006 (File No. 333-133028-01)                                                                                                                                                                                                                                                                                               |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit                99.5      | Administration                Agreement, dated as of June 28, 2006, between the Trust and The Student                Loan Corporation, as administrator (in such capacity, the                “Administrator”), incorporated by reference from Exhibit 99.5 of the                registrant’s Current Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                                                                                                                                                            |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit                99.6      | Sub-Administration                Agreement, dated as of June 28, 2006, between the Administrator and                CitiMortgage, Inc, incorporated by reference from Exhibit 99.6 of                the                registrant’s Current Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                                                                                                                                                                                                                                 |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Exhibit                99.7      | Custody                Agreement, dated as of June 28, 2006, among the Trust, the Eligible                Lender                Trustee, the Indenture Trustee and Citibank (South Dakota), National                Association, as custodian, incorporated by reference from Exhibit                99.7 of                the registrant’s Current Report on Form 8-K filed June 30, 2006 (File No.                333-133028-01)                                                                                                                                                                                          |