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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, 2005
|--- | --------------------------------------------------------------------------------------------------------------------------------

|/ / | Transition  report  pursuant  to  Section  13 or  15(d)  of the  Securities
Exchange Act of 1934
|--- | ------------------------------------------------------------------------------------------------

# Commission
File Number:  333-102791-01
College Loan Corporation Trust I
(Exact name of registrant as specified in its charter)

|Delaware
(State or other jurisdiction of incorporation or organization) | 45-6110137
(I.R.S. Employer Identification No.)
|----------------------------------------------------------------------- | -----------------------------------------------

|16855 W. Bernardo Drive
Suite 100
San Diego, California | 92127
|------------------------------------------------------- | -----

|(Address of principal executive offices) | (Zip Code)
|---------------------------------------- | ----------

|Registrant's telephone number, including area code: | (888) 972-6311
|--------------------------------------------------- | --------------

|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 if
the registrant is a well-known seasoned issuer, as defined in Rule 405 of the
Securities Act.
       Yes  
[__]      No   [X]

Indicate by check mark if
the registrant is not required to file reports pursuant to Section 13 or Section
15(d) of the Act.
       Yes  
[__]      No   [X]

Indicate by check mark
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. 
       Yes  
[X]      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]

# Not applicable.

Indicate by check mark whether the
registrant is an accelerated filer (as defined in Exchange Act Rule 12b-2). Yes
[__]     No [X]

Indicate by check mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Exchange Act.):Yes
[__]     No [X]

State the aggregate market value of the voting and non-voting common
equity held by nonaffiliates computed by reference to the price at which the common equity
was last sold, or the average bid and asked price of such common equity, as of the last
business day of the registrants most recently completed second fiscal quarter.

# Not applicable.

List hereunder the following documents if incorporated by reference and
the Part of the Form 10-K into which the document is incorporated: (1) Any annual
report to security holders; (2) Any proxy or information statement; and (3) Any
prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The
listed documents should be clearly described for identification purposes.

# Not applicable.

This Annual Report on Form 10-K (the Report) is filed with
respect to College Loan Corporation Trust I (the Trust). Certain information
on this Annual Report on Form 10-K is omitted pursuant to the request for no-action letter
forwarded to the Office of Chief Counsel Division of Corporate Finance, dated November 25,
1996 relating to Nellie Mae Education Funding, LLC, and the response of the SEC, dated
December 20, 1996, to the no-action request (collectively, the No-Action
Request).

PART I

|Item 1. | Business.
Omitted pursuant to the No-Action Request.
|------- | ----------------------------------------------------

|Item 2. | Properties.
Reference is made to the Annual Statement attached hereto as Exhibit 99.1.
|------- | --------------------------------------------------------------------------------------

|Item 3. | Legal Proceedings.
The Registrant knows of no material pending legal proceedings.
|------- | ---------------------------------------------------------------------------------

|Item 4. | Submission of Matters to a Vote of Security Holders.
None.
|------- | ----------------------------------------------------------

# 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. To the knowledge of the Registrant,
there is no established public trading market for the Notes.
|------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Item 6. | Selected
Financial Data.
Omitted pursuant to the No-Action Request.
|------- | -------------------------------------------------------------------

|Item 7. | Management's Discussion and Analysis of Financial Condition and Results of Operation.
Omitted pursuant
to the No-Action Request.
|------- | --------------------------------------------------------------------------------------------------------------------------------

|Item 7A. | Quantitative
and Qualitative Disclosures about Market Risk.
Not applicable.
|-------- | ---------------------------------------------------------------------------

|Item 8. | Financial
Statements and Supplementary Data.
Omitted pursuant to the No-Action Request.
|------- | ---------------------------------------------------------------------------------------

|Item 9. | Changes in and Disagreements with Accountants on Accounting and
Financial Disclosures.
None.
|------- | --------------------------------------------------------------------------------------------

|Item 9A. | Controls and
Procedures
Omitted.
|-------- | --------------------------------

|Item 9B. | Other
Information.
None.
|-------- | ------------------------

# PART III

|Item 10. | Directors and
Executive Officers of the Registrant.
Omitted pursuant
to the No-Action Request.
|-------- | ----------------------------------------------------------------------------------------------

|Item 11. | Executive
Compensation.
Omitted
pursuant to the No-Action Request.
|-------- | ------------------------------------------------------------------

|Item 12. | Security
Ownership of Certain Beneficial Owners and Management.
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 as of December 31, 2005. Such direct participants
may hold Notes for their own accounts or for the accounts of their customers. As
of December 31, 2005, 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:
College Loan Corporation Trust I, Series 2003-2
|-------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Class     | Participant | Quantity                    | Percentage
|--------- | ----------- | --------------------------- | ----------
|2003-2A-2 |             | State Street Bank and       |           
|          |             | Trust Company, N.A.         |           
|2003-2A-2 |             | BGI/IBT CO                  |           
|2003-2A-2 |             | Mellon Trust Company        |           
|2003-2A-2 |             | JPMorgan Chase Bank, N.A.   |           
|2003-2A-3 |             | The Bank of New York        |           
|2003-2A-3 |             | Barclays Bank PLC           |           
|2003-2A-3 |             | Citibank                    |           
|2003-2A-3 |             | JPMorgan Chase Bank, N.A.   |           
|2003-2A-3 |             | Mellon Trust Company        |           
|2003-2A-3 |             | State Street Bank and Trust |           
|          |             | Company, N.A.               |           
|2003-2A-3 |             | UBS Securities LLC          |           

College Loan Corporation Trust I, Series 2004-1

|Class     | Participant | Quantity                  | Percentage
|--------- | ----------- | ------------------------- | ----------
|2004-1A-1 |             | BGI/IBT CO                |           
|2004-1A-1 |             | JPMorgan Chase            |           
|          |             | Bank, N.A.                |           
|2004-1A-1 |             | Mellon Trust Company      |           
|2004-1A-1 |             | State Street Bank and     |           
|          |             | Trust Company, N.A.       |           
|2004-1A-1 |             | UBS Securities LLC        |           
|2004-1A-2 |             | Barclays Bank PLC         |           
|2004-1A-2 |             | Investors Bank            |           
|2004-1A-2 |             | JPMorgan Chase Bank,      |           
|          |             | N.A.                      |           
|2004-1A-2 |             | UBS AG                    |           
|2004-1A-2 |             | Goldman, Sachs & Co.      |           
|2004-1A-3 |             | The Bank of New York      |           
|2004-1A-3 |             | Citibank                  |           
|2004-1A-3 |             | JPMorgan Chase Bank, N.A. |           
|2004-1A-3 |             | State Street Bank and     |           
|          |             | Trust Company, N.A.       |           
|2004-1A-3 |             | JPMorgan/CCS2             |           
|2004-1A-3 |             | SSB-BK PFL                |           
|2004-1A-4 |             | The Bank of New York      |           
|2004-1A-4 |             | Citibank                  |           
|2004-1A-4 |             | JPMorgan Chase Bank,      |           
|          |             | N.A.                      |           
|2004-1A-4 |             | State Street Bank and     |           
|          |             | Trust Company, N.A.       |           
|2004-1B-1 |             | Goldman, Sachs & Co.      |           
|2004-1B-1 |             | The Bank of New York      |           
|2004-1B-1 |             | JPMorgan/HSBC SI          |           
|2004-1B-1 |             | Northern Trust Co.        |           

College Loan Corporation Trust I, Series 2005-1

|Class     | Participant | Quantity                      | Percentage
|--------- | ----------- | ----------------------------- | ----------
|2005-1A-1 |             | The Bank of New York          |           
|          |             | State Street Bank             |           
|          |             | and Trust Company, N.A.       |           
|2005-1A-1 |             | BGI/IBT CO                    |           
|2005-1A-1 |             | Mellon Trust Company          |           
|2005-1A-1 |             | Investors Bank                |           
|2005-1A-1 |             | Northern Trust Co.            |           
|2005-1A-1 |             | UBS AG                        |           
|2005-1A-2 |             | The Bank of New York          |           
|2005-1A-2 |             | JPMorgan/CCS2                 |           
|          |             | State Street Bank             |           
|2005-1A-2 |             | and Trust Company, N.A.       |           
|2005-1A-2 |             | Citibank                      |           
|2005-1A-2 |             | SEI Private                   |           
|2005-1A-4 |             | The Bank of New York          |           
|          |             | Brown Brothers Harriman       |           
|2005-1A-4 |             | & Co.                         |           
|2005-1A-4 |             | Northern Trust Co.            |           
|2005-1A-4 |             | Citibank                      |           
|2005-1A-4 |             | The Bank of New               |           
|          |             | York/Barclays Bank PLC        |           
|2005-1A-5 |             | The Bank of New York          |           
|2005-1A-5 |             | Northern Trust Co.            |           
|2005-1A-5 |             | Goldman, Sachs & Co.          |           
|2005-1B   |             | The Bank of New York          |           
|2005-1B   |             | Brown Brothers Harriman & Co. |           
|2005-1B   |             | Citibank                      |           

# Item 13.
          Certain Relationships and
Related Transactions.

(a) None.

(b) Omitted pursuant to the No-Action Request.

(c) Omitted pursuant to the No-Action Request.

# Item 14
          Principal Accountant
Fees and Services.

Omitted.

---

# Item 15.
           Exhibits,
Financial Statement Schedules, and Reports on Form 8-K.

(a) The following are filed as part of this
report:

| | 31.1 Certification pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002.
| | --------------------------------------------------------------------------------

| | 99.1 Annual statement for College Loan Corporation Trust I, for the period
ending December 31, 2005.
| | ----------------------------------------------------------------------------------------------------

| | 99.2 Annual Servicers' Report, dated March 20, 2006.
| | ----------------------------------------------------

| | 99.3 Report of Independent Certified Public Accounting Firm, dated March 27,
2006, issued by Grant Thornton LLP.
| | ----------------------------------------------------------------------------------------------------------------

(b)The following Current Reports on 8-K were filed
by the Registrant during 2005 and through the date hereof:

| | January 18, 2005
February 2, 2005
February 15, 2005
March 15, 2005
April 15, 2005
May 16, 2005
June 15, 2005
July 15, 2005
August 15, 2005
September 15, 2005
October 17, 2005
November 15, 2005
December 15, 2005
January 17, 2006
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

---

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, thereunto duly authorized:

| | College Loan Corporation
By: /s/ Cary Katz
      Cary Katz
      Chief Executive Officer
| | ----------------------------------------------------------------------------------------

---

INDEX TO EXHIBITS

|ExhibitNumber
31.1. |  | Exhibit
               Certification pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002.
|------------------- |  | --------------------------------------------------------------------------------------------------

|99.1. |  | Annual statement for College Loan Corporation Trust I, for the period ending
               December 31, 2005.
|----- |  | --------------------------------------------------------------------------------------------------------------

|99.2. |  | Annual Servicers Report, dated March 20, 2006.
|----- |  | -----------------------------------------------

|99.3. |  | Report of Independent Certified Public Accounting Firm, dated March 27, 2006, issued by
               Grant Thornton LLP.
|----- |  | --------------------------------------------------------------------------------------------------------------------------

---