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Exhibit 99.1

GCO Educational Loan Funding Trust-I
Statements to Noteholders
For the period ending December 31, 2004

Pursuant to Article 12.04 of the Indenture of Trust, the following is provided to the trustee by the issuer. The information shown in this Statement has not been independently verified, however, it is believed that the information is accurate to the best of the issuer's knowledge. In some circumstances, certain expenses have been accrued.

12.04(a) the amount of payments with respect to each series of Notes paid with respect to principal during the preceding month;

Class	Principal Reduction
A-1AR Notes	$	2,600,000
A-2AR Notes		—
A-3AR Notes		—
B-1AR Notes		—
A-1L Notes		—
A-4AR Notes		—
A-5AR Notes		—
B-2AR Notes		—

	$	2,600,000

12.04(b) the amount of payments with respect to each series of Notes paid with respect to interest during the preceding month;

Class	Interest Paid
A-1AR Notes	$	188,026
A-2AR Notes		126,338
A-3AR Notes		87,111
B-1AR Notes		24,500
A-1L Notes		—
A-4AR Notes		53,013
A-5AR Notes		101,733
B-2AR Notes		13,689

	$	594,411

12.04(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;

Interest Carryover		$—

12.04(d) the principal balance of Financed Student Loans as of the close of business on the last day of the preceding month;

Principal Balance of Financed Student Loans		$362,639,836

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

Class	Balance
A-1AR Notes	$	55,250,000
A-2AR Notes		77,350,000
A-3AR Notes		50,000,000
B-1AR Notes		14,000,000
A-1L Notes		86,397,000
A-4AR Notes		32,000,000
A-5AR Notes		60,000,000
B-2AR Notes		8,000,000

	$	382,997,000

12.04(f) the interest rate for any series of variable rate Notes, indicating how such interest rate is calculated;

Class		Rate
A-1AR Notes		2.480%
A-2AR Notes		2.300%
A-3AR Notes		2.540%
B-1AR Notes		2.400%
A-1L Notes		2.480%
A-4AR Notes		2.420%
A-5AR Notes		2.410%
B-2AR Notes		2.500%

12.04(g) the amount of the servicing fees allocated to the Servicer as of the close of business on the last day of the preceding month;

Servicing fees		Fees paid
Master servicing fees		2,500
Sub-servicing fees		36,285

12.04(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 Indenture Trustee and the Eligible Lender Trustee, all allocated as of the close of business on the last day of the preceding month;

Program Expenses		Fees Paid
Administration fee		2,500
Auction agent fees		—
Market agent fees (not applicable)		—
Calculation agent fees (not applicable)		—
Broker-dealer fees		68,415
Fees paid to Delaware Trustee		—
Fees paid to Indenture Trustee/Eligible Lender Trustee		—

12.04(i) the amount of the Recoveries of Principal and interest received during the preceding month relating to Financed Student Loans;

Recoveries		$	1,971,442		812,598		2,784,040

Of the total amount recovered above, $286,022.56 was in-transit as of 12/31-04, and was received in early January.

12.04(j) the amount of the payment attributable to amounts in the Reserve Fund, the amount of any other withdrawals from the Reserve Fund and the balance of the Reserve Fund as of the close of business on the last day of the preceding month;

		Balance			Withdrawals
Reserve Fund		$	4,200,000		—

Acquisition Fund:

12.04(k) the portion, if any, of the payments attributable to amounts on deposit in the Acquisition Fund;

	$	—

Total	$	—

12.04(l) the aggregate amount, if any, paid by the Indenture Trustee to acquire Student Loans from amounts on deposit in the Acquisition Fund during the preceding month;

		$	—

12.04(m) the amount remaining in the Acquisition Fund that has not been used to acquire Student Loans and is being transferred to the Revenue Fund;

		$	—

12.04(n) the aggregate amount, if any, paid for Financed Student Loans purchased from the Trust during the preceding month;

Loans Sold From the Trust		$	—

12.04(o) the number and principal amount of Financed Student Loans, as of the close of business on the last day of the preceding month, 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;

Delinquencies	Number	Principal
0-30 days*	322	$	8,862,838
31-60 days	281		9,099,690
61-90 days	140		4,742,815
91-120 days	60		1,854,201
Over 120 days	172		5,445,537
Claims filed	12		576,549

	987	$	30,581,630

*: One subservicer does not provide information on delinquent loans that may fall in the 0 - 30 day catergory.

12.04(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 the preceding month; and

Value of the Trust Estate	Balance		Accrued Interest		Total
Revenue Fund (Including Capitalized Interest and Account)	$	7,934,481	$	13,792	$	7,948,273
Reserve Fund		4,200,000		8,778		4,208,778
Acquisition Fund		—		—		—
Redemption Fund		20,638		28		20,666
Student Loan Receivable		362,639,836		3,578,049		366,217,886

Total	$	374,794,956	$	3,600,647	$	378,395,603

Class	Balance		Accrued Interest		Total
A-1AR Notes	$	55,250,000	$	11,418	$	55,261,418
A-2AR Notes		77,350,000		118,603		77,468,603
A-3AR Notes		50,000,000		77,611		50,077,611
B-1AR Notes		14,000,000		22,400		14,022,400
A-1L Notes		86,397,000		214,265		86,611,265
A-4AR Notes		32,000,000		23,662		32,023,662
A-5AR Notes		60,000,000		72,300		60,072,300
B-2AR Notes		8,000,000		6,111		8,006,111

	$	382,997,000	$	546,371	$	383,543,371

12.04(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.

	Number	Principal		%
Rejected federal reimbursement claims	—	$	—	0.00%
Financed Student Loans in forbearance	815		35,283,837	9.73%
Financed Student Loans in deferment	1,662		56,665,615	15.63%

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Exhibit 99.1

GCO Educational Loan Funding Trust-I Statements to Noteholders For the period ending December 31, 2004

GCO Education Loan Funding Trust-I 8-K