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, 2003                                                | 
|                                                                                           | 
|OR                                                                                         | 
|                                                                                           | 
|o 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 333-75952                                                          

|SLC STUDENT LOAN RECEIVABLES I, INC.                          | Delaware                                                       | 04-3598719                           
|------------------------------------------------------------- | -------------------------------------------------------------- | -------------------------------------
|(Depositor)                                                   |                                                                |                                      
|SLC STUDENT LOAN TRUST-I                                      | Delaware                                                       | 04-6959982                           
|(Issuer of Notes)                                             |                                                                |                                      
|                                                             
|(Exact name of co-registrants as specified in their charters) | (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Nos.)

|                                                                    |  |           
|------------------------------------------------------------------- |  | ----------
|750 Washington Blvd., Stamford, Connecticut                         |  | 06901     
|                                                                    |  |           
|(Address of principal executive office)                             |  | (Zip Code)
|                                                                    |  |           
|(203) 975-6923                                                     
|(203) 975-5018                                                     
|                                                                   
|(Registrants telephone number, including area code)               
|                                                                   
|                                                                   
|                                                                    |  |           
|Securities Registered Pursuant to Section 12(b) of the Act:    None
|                                                                   
|Securities Registered Pursuant to Section 12(g) of the Act:    None
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                    |  |           

Indicate by check mark
whether the registrant: (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days.

YesX   No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not
contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.

X

Indicate by check mark
whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the
Act).

Yes  NoX

State the aggregate market value of the voting and non-voting stock held by non-affiliates of the Registrants.  The aggregate market value shall be computed by reference
to the price at which the stock was sold, or the average bid and asked price of such stock, as of a specified date within 60 days
prior to the date of filing.  (See definition of affiliate in Rule 405).

Not Applicable.

Documents Incorporated by Reference:     None

---

Introductory Note

This Annual Report on Form 10-K is prepared in reliance on the
no-action letter dated December 20, 1996 issued by the Securities and Exchange Commission to Nellie Mae Education
Funding, LLC.

---

PART I

Item 1.    Business

The sole business of SLC Student Loan Receivables I, Inc. (the Depositor) and SLC Student Loan Trust-I (the Trust)
is to issue asset-backed notes (the Notes).  These Notes are issued by the Trust backed by student loans first transferred
by The Student Loan Corporation (the Servicer) to the Depositor, and then by the Depositor to the Trust.  The Servicer services the loans
on behalf of the Trust and provides administrative services to the Trust.  Payments received by the Servicer and transferred to the Trust with respect to such loans are used to make payments on the Notes.

Item 2.    Properties

The Property of the Trust consists solely of student loans originated under the Federal Family
Education Loan Program.  See Exhibit 99.2, a Certificate of The Student Loan Corporation, as Servicer, with respect to the activities
of the Servicer during the fiscal year ended December 31, 2003.  See Exhibit 99.4, a Certificate of The Student Loan Corporation, as Administrator, with respect
to the activities of the Administrator during the fiscal year ended December 31, 2003.

Item 3.    Legal Proceedings

Neither the Depositor nor the Trust knows of any
 material pending legal proceedings with respect to the Trust, involving the Trust, the Depositor,
the Servicer, Deutsche Bank Trust Company Americas, formerly known as Bankers Trust Company (the Indenture Trustee), the Depositor's eligible lender trustee or the Trust assets, other
than ordinary routine litigation incidental to the duties of the Indenture Trustee, the Servicer or the Depositor under
the Servicing Agreement between the Servicer and the Trust dated as of March 27, 2002.

Item 4.    Submission of Matters to a Vote of Security Holders

No matter was submitted during the fiscal year covered by this report to a vote of Note Holders.

PART II

Item 5.    Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Each class of Notes is represented by one or more Notes registered in the name of Cede & Co., the
nominee of the Depository Trust Company.  Records provided to the Trust by the Depository Trust Company and the Indenture Trustee indicate that as of December 31, 2003, the number of holders of record
for each class of Notes were as follows:

|Class A-1 | 6 
|--------- | --
|Class A-2 | 5 
|Class A-3 | 4 
|Class A-4 | 7 
|Class A-5 | 4 
|Class A-6 | 9 
|Class A-7 | 4 
|Class B-1 | 1 
|Class B-2 | 3 
|Total:    | 43
|         

To the knowledge of the Depositor and the Trust, there is no established public trading market for the Notes.

---

Item 6.    Selected Financial Data

Not Applicable.

Item 7.    Management's Discussion and Analysis of Financial Condition and Results of Operations

Not Applicable.

Item 7A.    Quantitative and Qualitative Disclosures About Market Risk

Not Applicable.

Item 8.    Financial Statements and Supplementary Data

Exhibit 99.1 is filed as part of this report and listed in Item 15(a) below.  This exhibit is also filed
as part of this report under this Item 8.

Item 9.    Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

None

Item 9A.    Controls and Procedures

Not Applicable

PART III

Item 10.    Directors and Executive Officers of the Registrant

Not Applicable

Item 11.    Executive Compensation

Not Applicable

Item 12.    Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

(a) Each class of Notes is  represented  by one or more Notes  registered  in the name of Cede & Co., the nominee of the
Depository  Trust  Company  (DTC),  and an investor  holding an interest in the Trust is not entitled to receive a note  representing
such interest except in certain limited  circumstances.  Accordingly,  Cede & Co. is the sole holder of record of Notes,  which it held
on behalf of brokers,  dealers,  banks and other direct  participants in the DTC system at December 31, 2003. Such direct  participants
may hold Notes for their own  accounts  or for the  accounts of their  customers.  At  December  31,  2003,  the  following  direct DTC
participants  held positions in the Notes representing interests in the Trust equal to or exceeding 5% of the total  principal  amount of
each class of Notes on that date:

---

SERIES 2002-1

|Class | Participant                                       | Quantity      | Percentage  
|----- | ------------------------------------------------- | ------------- | ------------
|----- | -----------                                       | ---------     | ------------
|A-1   | Citigroup Global Markets                          | $23,825,000   | 45.14%      
|      | J.P. Morgan Chase Bank                            | $19,825,000   | 37.57%      
|      | Morgan Stanley & Co., Inc.                        | $   6,000,000 | 11.37%      
|     
|A-2   | Citigroup Global Markets                          | $31,400,000   | 59.05%      
|      | J.P. Morgan Chase Bank                            | $12,750,000   | 23.98%      
|      | State Street Bank and Trust Co.                   | $   5,000,000 | 9.40%       
|     
|A-3   | Citigroup Global Markets                          | $38,750,000   | 72.87%      
|      | Deutsche Bank Trust Company Americas              | $   6,950,000 | 13.07%      
|      | Morgan Stanley & Co., Inc.                        | $   5,900,000 | 11.10%      
|     
|A-4   | J.P. Morgan Chase Bank                            | $23,900,000   | 41.48%      
|      | Merrill Lynch, Pierce, Fenner & Smith Safekeeping | $12,350,000   | 21.43%      
|      | Comerica Bank                                     | $   9,125,000 | 15.84%      
|      | State Street Bank and Trust Co.                   | $   5,425,000 | 9.41%       
|      | Mellon Trust of New England, N.A.                 | $   5,000,000 | 8.68%       
|     
|B-1   | Citigroup Global Markets                          | $15,250,000   | 100.00%     
|     

SERIES 2002-2

|Class | Participant                                         | Quantity      | Percentage
|----- | --------------------------------------------------- | ------------- | ----------
|----- | -----------                                         | ---------     | ----------
|A-5   | Citigroup Global Markets                            | $29,450,000   | 50.43%    
|      | J.P. Morgan Chase Bank                              | $23,450,000   | 40.15%    
|      | Morgan Stanley & Co., Inc.                          | $   4,350,000 | 7.45%     
|     
|A-6   | State Street Bank and Trust Co.                     | $26,700,000   | 45.72%    
|      | Citigroup Global Markets                            | $21,125,000   | 36.17%    
|      | Morgan Stanley & Co., Inc.                          | $   4,500,000 | 7.71%     
|     
|A-7   | Merrill Lynch, Pierce, Fenner & Smith   Safekeeping | $34,225,000   | 58.60%    
|      | Comerica Bank                                       | $20,600,000   | 35.27%    
|     
|B-2   | Citigroup Global Markets                            | $   7,150,000 | 70.44%    
|      | Mellon Trust of New England, N.A.                   | $   2,500,000 | 24.63%    
|     
|      | The address of each above participant is:           |               |           
|     

|c/o | The Depository Trust Company
|--- | ----------------------------
|    | 55 Water Street             
|    | New York, New York 10041    

| | (b)      Not Applicable  |  | 
| | ------------------------ |  | 
|
| | (c)       Not Applicable |  | 
|
| | (d)       Not Applicable |  | 

---

Item 13.    Certain Relationships and Related Transactions.

|                                                                                                                                                                           | (a) Neither the Depositor nor the Trust knows of any transaction or series of transactions to which any of the Depositor, the
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -----------------------------------------------------------------------------------------------------------------------------
|Trust or the Servicer, in each of their respective capacities, is a party
with any holder of Notes who owns of record or beneficially more than five percent of the Notes.
|                                                                                                                                                                          
|                                                                                                                                                                           | (b)  Not Applicable                                                                                                          
|                                                                                                                                                                          
|                                                                                                                                                                           | (c)  Not Applicable                                                                                                          

Item 14.    Principal Accountant Fees and Services

| | Not Applicable
| | --------------
|

PART IV

|Item 15. | Exhibits, Financial Statement Schedules and Reports on Form 8-K                                                                        
|-------- | ---------------------------------------------------------------------------------------------------------------------------------------
|        
|         | (a) The following are filed as part of this report:                                                                                    
|        
|         | Exhibit 31.1                                                                                                                           
|        
|         | Exhibit 99.1                                                                                                                           
|        
|         | Exhibit 99.2                                                                                                                           
|        
|         | Exhibit 99.3                                                                                                                           
|        
|         | Exhibit 99.4                                                                                                                           
|        
|         | Exhibit 99.5                                                                                                                           
|        
|         | (b) The following Current Reports on Form 8-K were filed by the Registrants during the last quarter
of the year covered in this report:
|        
|         | October 16, 2003                                                                                                                       
|         | November 17, 2003                                                                                                                      
|         | December 16, 2003                                                                                                                      
|        
|         | (c)  Not Applicable                                                                                                                    
|        
|         | (d)  Not Applicable                                                                                                                    
|        
|        
|        

---

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this
26th day of March, 2004.

| |                                            
| | -------------------------------------------
|
| | SLC Student Loan Receivables I, Inc.       
|
|
|
| | BY:         /s/ Michael J. Reardon         
| | Name:     Michael J. Reardon               
| | Title:       Acting Chief Financial Officer
|

SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS
WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.

No annual report, proxy statement, form of proxy or other proxy soliciting material has been sent to Security Holders
during the period covered by this Annual Report on Form 10-K and the Co-Registrants do not intend to furnish
such materials to Security Holders subsequent to the filing of this report.

---

|             | INDEX TO EXHIBITS                                                                                                                                   
|------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------
|            
|             |                                                                                                                                                     
|Exhibit No.  | Description                                                                                                                                         
|            
|Exhibit 31.1 | Certification Pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002                                                                          
|            
|Exhibit 99.1 | Annual Statement for SLC Student Loan Trust-I, Student Loan Asset Backed Notes, Series 2002-1 and Series 2002-2 for the Year ended December 31, 2003
|            
|Exhibit 99.2 | Annual Servicer's Certificate, dated March 10, 2004.                                                                                                
|            
|Exhibit 99.3 | Independent Accountants' Report, dated March 10, 2004, issued by KPMG LLP                                                                           
|            
|Exhibit 99.4 | Annual Administrator's Certificate, dated March 3, 2004                                                                                             
|            
|Exhibit 99.5 | Independent Accountants' Report, dated March 3, 2004, issued by KPMG LLP                                                                            
|            
|            
|            
|            

---