UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report Pursuant

to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported) ~~June~~January 71, ~~2007~~2008

Goal Capital Funding Trust 2007-1

Goal Capital Funding, LLC

Goal Financial, LLC

(Exact Name of Issuing Entity, Depositor/Registrant and Sponsor as Specified in their respective Charters)

Delaware

(State or Other Jurisdiction of Incorporation of Issuing Entity and Registrant)

333-132039

333-132039-02

20-3289538

26-0191360

(Commission File Numbers for Registrant

and Issuing Entity, respectively)

(Registrants’ I.R.S. Employer Identification Nos.

for Registrant and Issuing Entity, respectively)

9477 Waples Street, Suite 100 San Diego, California		92121
1229 King Street, Third Floor Alexandria, Virgina		22314
(Address of Principal Executive Offices)		(Zip Code)

(~~858~~703) ~~320~~837-~~6799~~1630

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 81.01. ~~Other~~Entry ~~Events~~into a Material Definitive Agreement.

On ~~June 7, 2007, Goal Capital~~ ~~Funding Trust 2007-1 (the “Issuing Entity”) publicly issued U.S. $237,000,000 of Class~~January A-1 ~~Three-Month LIBOR plus 0.02% Student Loan Asset-Backed Notes due on June 25~~, ~~2021~~2008, ~~U.S.~~Goal ~~$155~~Financial,~~000,000~~ ~~Class A-2~~LLC Three-Month LIBOR plus 0.06% Student Loan Asset-Backed Notes due on March 25, 2024, U.S. $279,000,000 Class A-3 Three-Month LIBOR plus 0.09% Student Loan Asset-Backed Notes due on September 25, 2028, U.S. $331,000,000 Class A-4 Three-Month LIBOR plus 0.12% Student Loan Asset-Backed Notes due on March 25, 2036, U.S. $118,000,000 Class A-5 Three-Month LIBOR plus 0.16% Student Loan Asset-Backed Notes due on March 25, 2042 (~~the~~ “~~Class A-5 Notes~~Goal”), ~~U.S.~~entered ~~$45,000,000~~into ~~Class~~the BSub-~~1 Auction~~Administration ~~Rate~~Agreement ~~Student~~between ~~Loan Asset-Backed Notes due on March 25~~Goal, ~~2042~~as ~~and~~administrator ~~U.S. $35,000,000 Class C-1 Three-Month LIBOR plus 0.40% Student Loan Asset-Backed Notes due on June 25, 2042~~ (~~collectively,~~ the “~~Notes~~Administrator”) ~~pursuant to a registration statement (No. 333-132039) declared effective on May 5~~, ~~2006.~~and ~~The~~Goal ~~lead~~Structured ~~managers for the issuance of the Notes were Banc of America~~ Securities, LLC, ~~and~~as ~~Deutsche Bank Securities Inc. (the “Lead Managers”) and the co~~sub-~~managers~~administrator ~~were Barclays Capital Inc. and J.P. Morgan Securities Inc.~~ (~~the~~ “~~Co-Managers~~GSS”)~~. Goal Capital Funding~~, with ~~LLC~~respect ~~(the~~to ~~“Registrant”) paid~~ the ~~underwriters~~performance ~~a fee~~ of ~~U.S.~~certain ~~$2,522,900~~duties ~~in connection with the sale~~ of the ~~Notes.~~Administrator, ~~The net~~a ~~proceeds~~copy ~~from the sale~~ of ~~the Notes (the “Proceeds”),~~ which ~~amounted~~is tofiled ~~U.S.~~with ~~$1,197,477,100,~~this ~~were~~Form ~~deposited into various accounts of the Issuing Entity~~8-K, as ~~further~~Exhibit ~~described in the prospectus relating to the Notes~~10.1 ~~Certain of the Proceeds were used to purchase from the Registrant a pool of student loans made under the Federal Family Education Loan Program by one or more affiliates of Goal Financial, LLC~~ (the “~~Sponsor”),~~Sub-Administration ~~which constitute the receivables included in the assets of the Issuing Entity. The Registrant acquired such receivables from Higher Education Funding II, LLC (“HEF II~~Agreement”) ~~and Higher Education Funding III, LLC (“HEF III”), which are affiliates of the Sponsor~~. ~~Certain of the Proceeds were and will be used to pay expenses relating to the issuance of the Notes, estimated to be $1,500,000, and general expenses relating to the Issuing Entity.~~

Item 6.02.

Change of Servicer or Trustee.

As of January 1, 2008, Goal entered into the Sub-Administration Agreement with GSS (the “Sub-Administrator”) whereby GSS agreed to perform all the tasks of Goal under the Administration Agreement among Goal and the Issuing Entity, dated as of June 7, 2007, a copy of which was filed as Exhibit 10.2 pursuant to Form 8-K on June 13, 2007 under the same Central Index Key (CIK) as this report on Form 8-K. On and after January 1, 2008, GSS will perform administrative duties for the benefit of the Issuing Entity pursuant to the Sub-Administration Agreement, a copy of which is filed with this Form 8-K, as Exhibit 10.1.

Goal Structured Securities, LLC (“GSS”) is a Delaware limited liability company. GSS maintains its executive and principal offices at 9477 Waples Street, Suite 100, San Diego, California, 92121. Its telephone number is (858) 320-6799.

GSS has acquired from Goal substantially all of the tangible assets previously used by Goal for administration of securitizations. On January 1, 2008, GSS entered into employment contracts with substantially all of the personnel who were previously employed by Goal to provide administrative services for securitizations. GSS had no operations or experience in performing administrative services for securitizations prior to January 1, 2008. Currently, GSS provides administrative and other services for the Issuing Entity, Goal and Goal-affiliated entities. In the future, GSS may provide administrative and/or other services for non-affiliated third-party entities.

GSS may resign as Sub-Administrator upon 60 days’ written notice, provided that no resignation will become effective until a successor sub-administrator has assumed GSS’ duties under the Sub-Administration Agreement and the rating agencies confirm that the appointment of a successor Sub-Administrator will not result in a downgrade or withdrawal of the ratings then applicable to the notes.

The Sub-Administrator may be removed immediately upon written notice of termination from the Issuing Entity or the indenture trustee to the Sub-Administrator and the rating agencies then rating the Issuing Entity’s notes if any of the following events occurs:

•

the Sub-Administrator defaults in the performance of any of its duties under the Sub-Administration agreement and, after notice of the default, does not cure such default within ten days (or, if the default cannot be cured in such time, does not give within ten days such assurance of cure as shall be reasonably satisfactory to the trust);

•

a court having jurisdiction in the premises enters a decree or order for relief in respect of the Sub-Administrator in any involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect and the decree or order is not vacated within sixty days or such a court appoints a receiver, liquidator, assignee, custodian trustee, sequestor or similar official for the Sub-Administrator or any substantial part of its property or order the winding-up or liquidation of its affairs; or

•

the Sub-Administrator commences a voluntary case under any applicable bankruptcy, insolvency or other similar law, consents to the entry of an order for relief in any involuntary case under any such law or consents to the appointment of a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official for the Sub-Administrator or any substantial part of its property, consents to the taking of possession by any such official of any substantial part of its property, makes any general assignment for the benefit of creditors or shall fail generally to pay its debts as they become due.

Item 9.01.

Financial Statements and Exhibits.

(a)

Not applicable.

(b)

Not applicable.

(c)

Not applicable.

(d)

Exhibits.


Exhibit No.		Document Description
10.1		Sub-Administration Agreement dated as of January 1, 2008 between Goal Financial, LLC, as administrator, and Goal Structured Securities, LLC, as sub-administrator.

Exhibit No.		Document Description
1.1		Underwriting Agreement dated May 31, 2007 among the Registrant, the Sponsor, each of the Lead Managers and the Co-Managers.
4.1		Amended and Restated Trust Agreement dated as of June 7, 2007 between the Registrant and Wilmington Trust Company, as Delaware trustee (the “Delaware Trustee”).
4.2		Indenture of Trust dated as of June 7, 2007 between the Issuing Entity and The Bank of New York Trust Company, N.A. (“BNYTC”), as trustee (in such capacity, the “Indenture Trustee”) and as eligible lender trustee for the Issuing Entity (in such capacity, the “Issuing Entity ELT”).
10.1		Loan Purchase Agreement dated as of June 7, 2007 among the Registrant, the Issuing Entity, BNYTC, as the eligible lender trustee for the Registrant (the “Registrant ELT”), and the Issuing Entity ELT.
10.2		Administration Agreement dated as of June 7, 2007 among the Issuing Entity, the Indenture Trustee, the Issuing Entity ELT, the Delaware Trustee and the Administrator.
10.3		Verification Agent Agreement dated as of June 7, 2007 among the Issuing Entity, the Administrator and BNYTC, as verification agent.
10.4		Eligible Lender Trust Agreement dated as of June 7, 2007 between the Issuing Entity and the Issuing Entity ELT.
10.5		Student Loan Servicing Agreement dated as of June 7, 2007 between the Issuing Entity and Great Lakes Educational Loan Services, Inc. (the “Great Lakes Servicer”).
10.6		Federal FFEL Servicing Agreement dated as of June 7, 2007 between the Issuing Entity and ACS Education Services, Inc.
10.7		Guarantee Agreement dated as of June 7, 2007 between Massachusetts Higher Education Assistance Corporation doing business as American Student Assistance (“ASA”) and the Issuing Entity ELT and Certificate of Comprehensive Insurance dated June 7, 2007 by ASA.
10.8		Student Loan Guaranty dated June 7, 2007 between Great Lakes Higher Education Guaranty Corporation (the “Great Lakes Guarantee Agency”) and the Issuing Entity ELT.

10.9		Agreement for Payment on Guarantee of Consolidation Loans with Federal Reinsurance, Agreement for Payment onGuarantee of Student Loans with Federal Reinsurance and Certificate of Comprehensive Guarantee for ConsolidationLoans (collectively, the “ECMC Guarantee Agreement”) dated June 7, 2007 between the Registrant ELT and EducationalCredit Management Corporation (“ECMC”).
10.10		ECMC Guarantee Agreement dated June 7, 2007 between the Issuing Entity ELT and ECMC.
10.11		Assignment Agreement dated as of June 7, 2007 among HEF II, the Registrant, BNYTC, as eligible lender trustee for HEF II, and the Registrant ELT.
10.12		Assignment Agreement dated as of June 7, 2007 among HEF III, the Registrant, BNYTC, as eligible lender trustee for HEF III, and the Registrant ELT.
10.13		Student Loan Repurchase Agreement dated as of June 7, 2007 between the Issuing Entity and Goal Financial, LLC.
10.14		Confirmation dated as of June 7, 2007 between the Issuing Entity and the Swap Counterparty.
10.15		Credit Support Annex dated as of June 7, 2007 between the Issuing Entity and Bank of America, N.A. (the “Swap Counterparty”).
99.1		General Certificate of the Great Lakes Servicer dated June 7, 2007.
99.2		General Certificate of the Great Lakes Guarantee Agency dated June 7, 2007.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant, Goal Capital Funding, LLC, has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

June 13, 2007	GOAL CAPITAL FUNDING, LLC
January 4, 2008		GOAL CAPITAL FUNDING, LLC
	~~By:~~	~~/s/ Seamus Garland~~By:	/s/ Seamus Garland
	~~Name:~~	~~Seamus Garland~~Name:	Seamus Garland
	~~Title:~~	~~Chief Financial Officer, Secretary and Head of Securitization~~Title:	Chief Financial Officer, Secretary and Head of Securitization

Sub-Servicing Agreement 8-K

Filing Compare · Goal Capital Funding Trust 2007-1