Trust Indenture

EXHIBIT 20.1

COLLEGE LOAN CORPORATION TRUST I SERIES 2003-2 AND SERIES 2004-1

STATEMENT TO NOTE HOLDERS

AS OF AND FOR THE PERIOD ENDED: 11/30/2004

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 November 2004;

SERIES CLASS PRINCIPAL PAID

2002 A-1 $35,150,000.00

2002 A-2 $0.00

2002 A-3 $0.00

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 $14,500,000.00

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 $0.00

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 November 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 $6,930,842.90

2003-2 A-1 $0.00

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 $ 153,000.00

(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 November 2004;

PRINCIPAL BALANCE OF FINANCED STUDENT LOANS $5,878,451,029.56

(e) the aggregate outstanding principal amount of the Notes of each series

as of the close of business on the last day of November 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 $58,500,000.00

2002 B-1 $42,000,000.00

2002-2 A-10 $100,000,000.00

2002-2 A-11