Exhibit 99.1

Annual Statement of College Loan Corporation Trust ICollege Loan Corporation Trust I Series 2004-1
Statement to Note Holders
As of and for the period ended: 12/31/2004

Pursuant to section 11.04 of the Trust Indenture, the following
is provided to the trustee by the issuer. The information shown below has not
been independently verified, however it is believed to be accurate to the best
of the issuers knowledge.

| | (a) | the amount of payments with respect to each series of Notes paid with respect to
principal during the reporting period January 1, 2004 through December 31, 2004;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------

`Series     Class      Principal Paid
                       ------     -----      --------------
                        2002       A-1       $73,500,000.00
                        2002       A-2                $0.00
                        2002       A-3        $1,750,000.00
                        2002       A-4                $0.00
                        2002       A-5                $0.00
                        2002       A-6                $0.00
                        2002       A-7                $0.00
                        2002       A-8                $0.00
                        2002       A-9       $53,100,000.00
                        2002       B-1                $0.00
                       2002-2      A-10               $0.00
                       2002-2      A-11               $0.00
                       2002-2      A-12               $0.00
                       2002-2      A-13               $0.00
                       2002-2      A-14               $0.00
                       2002-2      A-15               $0.00
                       2002-2      A-16               $0.00
                       2002-2      A-17               $0.00
                       2002-2      A-18               $0.00
                       2002-2      A-19               $0.00
                       2002-2      A-20               $0.00
                       2002-2      A-21               $0.00
                       2002-2      A-22               $0.00
                       2002-2      A-23               $0.00
                       2002-2      A-24               $0.00
                       2002-2      A-25               $0.00
                       2002-2      A-26               $0.00
                       2002-2      A-27               $0.00
                       2002-2      A-28               $0.00
                       2002-2      A-29               $0.00
                       2002-2      A-30               $0.00
                       2002-2      B-2                $0.00
                       2002-2      B-3                $0.00
                       2002-2      B-4                $0.00
                       2003-1      A-1                $0.00
                       2003-1      A-2                $0.00
                       2003-1      A-3                $0.00
                       2003-1      A-4                $0.00
                       2003-1      A-5                $0.00
                       2003-1      A-6                $0.00
                       2003-1      A-7                $0.00
                       2003-1      A-8                $0.00
                       2003-1      A-9                $0.00
                       2003-1      A-10               $0.00
                       2003-1      B-1                $0.00
                       2003-1      B-2                $0.00
                       2003-2      A-1      $169,900,000.00
                       2003-2      A-2                $0.00
                       2003-2      A-3                $0.00
                       2004-1      A-1                $0.00
                       2004-1      A-2                $0.00
                       2004-1      A-3                $0.00
                       2004-1      A-4                $0.00
                       2004-1      B-1                $0.00`

| | (b) | the amount of payments with respect to each series of Notes paid with respect to
interest during the reporting period January 1, 2004 through December 31, 2004;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------

`Series     Class       Interest Paid
                      ------     -----       -------------
                       2002       A-1            See below
                       2002       A-2            See below
                       2002       A-3            See below
                       2002       A-4            See below
                       2002       A-5            See below
                       2002       A-6            See below
                       2002       A-7            See below
                       2002       A-8            See below
                       2002       A-9            See below
                       2002       B-1            See below
                      2002-2     A-10            See below
                      2002-2     A-11            See below
                      2002-2     A-12            See below
                      2002-2     A-13            See below
                      2002-2     A-14            See below
                      2002-2     A-15            See below
                      2002-2     A-16            See below
                      2002-2     A-17            See below
                      2002-2     A-18            See below
                      2002-2     A-19            See below
                      2002-2     A-20            See below
                      2002-2     A-21            See below
                      2002-2     A-22            See below
                      2002-2     A-23            See below
                      2002-2     A-24            See below
                      2002-2     A-25            See below
                      2002-2     A-26            See below
                      2002-2     A-27            See below
                      2002-2     A-28            See below
                      2002-2     A-29            See below
                      2002-2     A-30            See below
                      2002-2      B-2            See below
                      2002-2      B-3            See below
                      2002-2      B-4            See below
                      2003-1      A-1            See below
                      2003-1      A-2            See below
                      2003-1      A-3            See below
                      2003-1      A-4            See below
                      2003-1      A-5            See below
                      2003-1      A-6            See below
                      2003-1      A-7            See below
                      2003-1      A-8            See below
                      2003-1      A-9            See below
                      2003-1     A-10            See below
                      2003-1      B-1            See below
                      2003-1      B-2            See below
 Total interest paid to all series above      $56,877,302.30
                      2003-2      A-1        $3,939,879.09
                      2003-2      A-2        $9,680,889.16
                      2003-2      A-3        $4,809,161.37
                      2004-1      A-1        $1,941,264.15
                      2004-1      A-2        $2,114,864.13
                      2004-1      A-3        $2,843,301.07
                      2004-1      A-4        $1,447,983.87
                      2004-1      B-1        $1,115,400.00`

| | (c) | the amount of the payments allocable to any interest that was carried over
together with the amount of any remaining outstanding interest that was carried
over;Carry over amounts      $0.00
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (d) | the principal balance of Financed Student Loans as of the close of business on
the last day of December 2004;Principal Balance of Financed Student Loans
      $5,841,920,736.10
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (e) | the aggregate outstanding principal amount of the Notes of each series as of the
close of business on the last day of December 2004, after giving effect to
payments allocated to principal reported under paragraph (a) above;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

`Series      Class        Outstanding Balance
                      ------      ------       -------------------
                        2002       A-1                       $0.00
                        2002       A-2                       $0.00
                        2002       A-3              $57,100,000.00
                        2002       A-4              $73,000,000.00
                        2002       A-5              $73,000,000.00
                        2002       A-6              $73,000,000.00
                        2002       A-7              $73,000,000.00
                        2002       A-8              $73,000,000.00
                        2002       A-9              $19,900,000.00
                        2002       B-1              $42,000,000.00
                       2002-2     A-10             $100,000,000.00
                       2002-2     A-11             $100,000,000.00
                       2002-2     A-12             $100,000,000.00
                       2002-2     A-13             $100,000,000.00
                       2002-2     A-14             $100,000,000.00
                       2002-2     A-15             $100,000,000.00
                       2002-2     A-16             $100,000,000.00
                       2002-2     A-17             $100,000,000.00
                       2002-2     A-18              $80,000,000.00
                       2002-2     A-19             $100,000,000.00
                       2002-2     A-20             $100,000,000.00
                       2002-2     A-21             $100,000,000.00
                       2002-2     A-22             $100,000,000.00
                       2002-2     A-23             $100,000,000.00
                       2002-2     A-24             $100,000,000.00
                       2002-2     A-25             $100,000,000.00
                       2002-2     A-26             $100,000,000.00
                       2002-2     A-27             $100,000,000.00
                       2002-2     A-28             $100,000,000.00
                       2002-2     A-29             $100,000,000.00
                       2002-2     A-30             $100,000,000.00
                       2002-2      B-2              $40,000,000.00
                       2002-2      B-3              $40,000,000.00
                       2002-2      B-4              $40,000,000.00
                       2003-1      A-1             $100,000,000.00
                       2003-1      A-2             $100,000,000.00
                       2003-1      A-3             $100,000,000.00
                       2003-1      A-4             $100,000,000.00
                       2003-1      A-5             $100,000,000.00
                       2003-1      A-6             $100,000,000.00
                       2003-1      A-7             $100,000,000.00
                       2003-1      A-8             $100,000,000.00
                       2003-1      A-9             $100,000,000.00
                       2003-1     A-10              $50,000,000.00
                       2003-1      B-1              $25,000,000.00
                       2003-1      B-2              $25,000,000.00
                       2003-2      A-1             $175,100,000.00
                       2003-2      A-2             $646,800,000.00
                       2003-2      A-3             $308,200,000.00
                       2004-1      A-1             $293,000,000.00
                       2004-1      A-2             $307,000,000.00
                       2004-1      A-3             $400,000,000.00
                       2004-1      A-4             $200,000,000.00
                       2004-1      B-1             $100,000,000.00`

| | (f) | the interest rate for any series of variable rate Notes during the reporting
period January 1, 2004 through December 31, 2004, indicating how such interest
rate is calculated;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

`Series     Class    Interest Rate      Interest Calculation
                      ------     -----    -------------      --------------------
                        2002      A-1       See Below        28-Day Auction Rate
                        2002      A-2       See Below        28-Day Auction Rate
                        2002      A-3       See Below        28-Day Auction Rate
                        2002      A-4       See Below        28-Day Auction Rate
                        2002      A-5       See Below        28-Day Auction Rate
                        2002      A-6       See Below        28-Day Auction Rate
                        2002      A-7       See Below        28-Day Auction Rate
                        2002      A-8       See Below        28-Day Auction Rate
                        2002      A-9       See Below        28-Day Auction Rate
                        2002      B-1       See Below        28-Day Auction Rate
                       2002-2     A-10      See Below        28-Day Auction Rate
                       2002-2     A-11      See Below        28-Day Auction Rate
                       2002-2     A-12      See Below        28-Day Auction Rate
                       2002-2     A-13      See Below        28-Day Auction Rate
                       2002-2     A-14      See Below        28-Day Auction Rate
                       2002-2     A-15      See Below        28-Day Auction Rate
                       2002-2     A-16      See Below        28-Day Auction Rate
                       2002-2     A-17      See Below        28-Day Auction Rate
                       2002-2     A-18      See Below        28-Day Auction Rate
                       2002-2     A-19      See Below        28-Day Auction Rate
                       2002-2     A-20      See Below        28-Day Auction Rate
                       2002-2     A-21      See Below        28-Day Auction Rate
                       2002-2     A-22      See Below        28-Day Auction Rate
                       2002-2     A-23      See Below        28-Day Auction Rate
                       2002-2     A-24      See Below        28-Day Auction Rate
                       2002-2     A-25      See Below        28-Day Auction Rate
                       2002-2     A-26      See Below        28-Day Auction Rate
                       2002-2     A-27      See Below        28-Day Auction Rate
                       2002-2     A-28      See Below        28-Day Auction Rate
                       2002-2     A-29      See Below        28-Day Auction Rate
                       2002-2     A-30      See Below        28-Day Auction Rate
                       2002-2     B-2       See Below        28-Day Auction Rate
                       2002-2     B-3       See Below        28-Day Auction Rate
                       2002-2     B-4       See Below        28-Day Auction Rate
                       2003-1     A-1       See Below        28-Day Auction Rate
                       2003-1     A-2       See Below        28-Day Auction Rate
                       2003-1     A-3       See Below        28-Day Auction Rate
                       2003-1     A-4       See Below        28-Day Auction Rate
                       2003-1     A-5       See Below        28-Day Auction Rate
                       2003-1     A-6       See Below        28-Day Auction Rate
                       2003-1     A-7       See Below        28-Day Auction Rate
                       2003-1     A-8       See Below        28-Day Auction Rate
                       2003-1     A-9       See Below        28-Day Auction Rate
                       2003-1     A-10      See Below        28-Day Auction Rate
                       2003-1     B-1       See Below        28-Day Auction Rate
                       2003-1     B-2       See Below        28-Day Auction Rate
            Weighted average rate for Notes above        1.520292%
              Series   Class    Libor Rate    Spread     Rate       Interest Calculation
              ------   -----    ----------    ------     ----       --------------------
              2003-2   A-1      1.451161%     0.03%     1.481161%    Floating Rate Note
              2003-2   A-2      1.451161%     0.14%     1.591161%    Floating Rate Note
              2003-2   A-3      1.451161%     0.20%     1.651161%    Floating Rate Note
              2004-1   A-1      1.652288%     0.05%     1.702288%    Floating Rate Note
              2004-1   A-2      1.652288%     0.11%     1.762288%    Floating Rate Note
              2004-1   A-3      1.652288%     0.16%     1.812288%    Floating Rate Note
              2004-1   A-4      1.652288%     0.19%     1.842288%    Floating Rate Note
              2004-1   B-1                            1.829823%         Auction Rate`

| | (g) | the amount of the servicing fees allocated to the Servicers during the reporting
period January 1, 2004 through December 31, 2004;Servicing fees      $11,339,361.51
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (h) | the amount of the Administration Fee, any auction agent fees, market agent fees,
calculation agent fees, broker-dealer fees, if any, fees paid to the Delaware
Trustee, the Trustee, the Eligible Lender Trustee and the Verification Agent,
all allocated during the reporting period January 1, 2004 through December 31,
2004;
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

`Fee                       Amount
                                 ---                       ------
                                  Administration    $9,693,996.47
                                   Auction Agent       $43,511.48
                                    Market Agent            $0.00
                               Calculation Agent            $0.00
                                   Broker-Dealer    $9,377,277.56
                                Delaware Trustee        $5,000.00
                                         Trustee      $423,712.57
                         Eligible Lender Trustee            $0.00
                              Verification Agent            $0.00`

| | (i) | the amount of principal and interest received during the reporting period
January 1, 2004 through December 31, 2004 relating to Financed Student Loans;Amount of principal and interest received
      $838,373,674.54
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (j) | the amount of the payment attributable to amounts in the Reserve Fund, the
amount of any other withdrawals from the Reserve Fund during the reporting
period January 1, 2004 through December 31, 2004 and the balance of the Reserve
Fund as of the close of business on the last day of December 2004;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Amount of payment attributable to amounts in the Reserve Fund 
Amount of any other withdrawals from the Reserve Fund 
Ending Balance of Reserve Fund | $9,750,000.00
  $2,894,250.00
$45,855,750.00 | 
| | ---------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------- | 

| | (k) | the portion, if any, of the payments made on the Notes as described in sections
(a) or (b) above during the reporting period January 1, 2004 through December
31, 2004 attributable to amounts on deposit in the Acquisition Fund;Payments from the Acquisition Fund      $0.00
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (l) | the aggregate amount, if any, paid by the Trustee to acquire Student Loans from
amounts on deposit in the Acquisition Fund subsequent to the closing date of the
series 2004-1 Notes;Amounts paid to acquire Student Loans
     $517,044,261.65
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (m) | the amount remaining in the Acquisition Fund that has not been used to acquire
Student Loans and is being transferred to the Debt Service Fund;Amounts in Acquisition fund to be transferred to the Debt Service Fund
      $0.00
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (n) | the aggregate amount, if any, paid for Financed Student Loans purchased from the
Trust during the reporting period January 1, 2004 through December 31, 2004;Amounts paid for Financed Student Loans purchased from the Trust
      $1,052,676.69
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (o) | the number and principal amount of Financed Student Loans, as of the close of
business on the last day of December 2004, that are (i) 0 to 30 days delinquent,
(ii) 31 to 60 days delinquent, (iii) 61 to 90 days delinquent, (iv) 91 to 120
days delinquent, (v) greater than 120 days delinquent and (vi) for which claims
have been filed with the appropriate Guarantee Agency and which are awaiting
payment;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

`Number            Amount
                                                    ------            ------
                (i)  0 to 30 days delinquent        498,465     5,538,020,715.61
               (ii)  31 to 60 days delinquent        11,230       126,211,051.89
              (iii)  61 to 90 days delinquent         5,718        57,770,194.40
               (iv)  91 to 120 days delinquent        3,308        30,917,201.90
                (v)  > 120 day delinquent             9,948        80,647,411.17
               (vi)  & claims filed                   1,091         8,354,161.13
                                                      -----         ------------
                     Total                          529,760     5,841,920,736.10`

| | (p) | the Value of the Trust Estate and the Outstanding principal amount of the Notes
as of the close of business on the last day of December 2004; andValue of the Trust Estate          
               
            $6,058,119,871.65Outstanding Principal amount of the Notes      $6,114,100,000.00
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (q) | the number and percentage by dollar amount of (i) rejected federal reimbursement
claims for Financed Student Loans, (ii) Financed Student Loans in forbearance,
and (iii) Financed Student Loans in deferment as of the close of business on the
last day of December 2004.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

`Number   Percentage
                                                                     ------   ----------
       (i)    Outstanding rejected federal reimbursement claims            9      0.00%
       (ii)   Financed Student Loans in forbearance                   27,248      8.30%
       (iii)  Financed Student Loans in deferment                     52,562     13.51%`