UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-D

ASSET-BACKED ISSUER

DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly distribution period from

~~May~~August 1, 2023 to ~~July~~October 31, 2023

Commission File Number of issuing entity: 333-164557-01

Central Index Key Number of issuing entity: 0001493611

SLC STUDENT LOAN TRUST 2010-1

(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 333-164557

Central Index Key Number of depositor: 0001164019

SLC STUDENT LOAN RECEIVABLES I, INC.

(Exact name of depositor as specified in its charter)

Central Index Key Number of sponsor: 0000893955

THE STUDENT LOAN CORPORATION

(Exact name of sponsor as specified in its charter)

Delaware		04-3598719
(State or other jurisdiction of incorporation or organization of the issuing entity)		(I.R.S. Employer Identification No.)
(State or other jurisdiction of		(I.R.S. Employer Identification No.)
incorporation or organization of the
issuing entity)

4000 Regent Boulevard C2B-260 Irving, Texas 75063 (Zip Code) (Address of principal executive offices of the issuing entity)

4000 Regent Boulevard		75063
C2B-260		(Zip Code)
Irving, Texas
(Address of principal executive offices
of the issuing entity)

(469) 220-4928

(Telephone number including area code)

Registered/reporting pursuant to (check one)

Title of class	Section 12(b)	Section 12(g)	Section 15(d)	Name of exchange (If Section 12(b))

Class A Student Loan Asset Backed Notes	☐	☐	☑

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 ☑

No ☐

PART I — DISTRIBUTION INFORMATION

Item 1.

Distribution and Pool Performance Information.

On ~~August~~November 2527, 2023, SLC Student Loan Trust 2010-1 (the “Trust”) made its regular quarterly distribution of funds to holders of its Student Loan Asset Backed Notes for the distribution period commencing on ~~May~~August 1, 2023 and ending on ~~July~~October 31, 2023. There is no activity to report under Rule 15Ga-1(a) under the Securities Exchange Act of 1934 with respect to the Trust for the distribution period referred to in the preceding sentence. The depositor filed its most recent report on Form ABS-15G on February 14, 2023 (such report is available at www.sec.gov under the depositor’s CIK No. 0001164019). The sponsor filed its most recent report on Form ABS-15G on February 8, 2023 (such report is available at www.sec.gov under the sponsor’s CIK No. 0000893955). The related Quarterly Distribution Report is attached as Exhibit 99.1.

PART II — OTHER INFORMATION

Item 2.

Legal Proceedings.

~~Navient~~The ~~Corporation~~following ~~(“Navient”)~~four ~~has~~paragraphs ~~been~~are ~~named~~disclosure asreceived ~~defendant~~from inNavient ~~a number of putative class action cases alleging violations of various state and federal consumer protection laws including the Telephone Consumer Protection Act~~Solutions, ~~the~~LLC ~~Consumer Financial Protection Act of 2010~~ (~~the “CFPA”)~~formerly, ~~the~~Navient ~~Fair~~Solutions, ~~Credit Reporting Act (the “FCRA”~~Inc.), ~~the Fair Debt Collection Practices Act~~ (~~the~~ “~~FDCPA~~Navient Solutions”), ~~in adversarial proceedings under~~ the ~~United~~successor ~~States~~subservicer ~~Bankruptcy~~for ~~Code, and various state consumer protection laws. At~~ this point in time, Navient is unable to anticipate the timing of a resolution or the impact that these legal proceedings may have on its consolidated financial position, liquidity, results of operation or cash flowstransaction. As a result, it is not possible at this time to estimate a range of potential exposure, if any, for amounts that may be payable in connection with these matters and reserves have not been established. It is possible that an adverse ruling or rulings may have a material adverse impact on Navient, Navient Solutions and/or their affiliates or on the financial ability of the depositor, the servicer or a seller to fulfill an obligation to purchase or repurchase trust student loans in connection with a breach of representation, warranty or covenant.

InNavient ~~January~~Corporation ~~2017,~~(“Navient”) ~~the~~has ~~Consumer~~been ~~Financial~~named ~~Protection~~as ~~Bureau~~defendant ~~(the~~in ~~“CFPB”)~~a ~~and~~number ~~the~~of ~~Attorneys~~putative ~~General~~class ~~for~~action ~~the~~cases ~~State~~alleging violations of ~~Illinois~~various state and ~~the~~federal ~~State~~consumer ofprotection ~~Washington~~laws ~~initiated~~including ~~civil~~the ~~actions~~Telephone ~~naming~~Consumer ~~Navient~~Protection ~~and~~Act, ~~several~~the ~~of its~~Consumer ~~subsidiaries~~Financial ~~(including~~Protection ~~Navient~~Act ~~Solutions~~of 2010 (CFPA), asthe ~~defendants~~Fair ~~alleging~~Credit ~~violations~~Reporting ofAct ~~certain~~(FCRA), ~~federal~~the ~~and~~Fair ~~state~~Debt ~~consumer~~Collection ~~protection~~Practices ~~statutes~~Act (FDCPA), ~~including~~in ~~the~~adversarial ~~CFPA,~~proceedings under the ~~FCRA,~~United ~~the~~States ~~FDCPA~~Bankruptcy Code, and various state consumer protection laws. ~~The~~At ~~Attorneys General for the~~this ~~States~~point ofin ~~Pennsylvania~~time, ~~California,~~Navient ~~Mississippi,~~is ~~and~~unable ~~New~~to ~~Jersey~~anticipate ~~also~~the ~~initiated~~timing ~~actions~~of ~~against~~a ~~Navient~~resolution ~~and~~or ~~certain~~the ~~subsidiaries~~impact ~~alleging~~that ~~violations~~these oflegal ~~various~~proceedings ~~state~~may ~~and~~have ~~federal~~on ~~consumer~~its ~~protection~~consolidated ~~laws~~financial ~~based~~position, onliquidity, ~~similar~~results ~~alleged~~of ~~acts~~operation or ~~failures~~cash ~~to act~~flows. InAs ~~addition~~a toresult, ~~these~~it ~~matters,~~is anot ~~number~~possible ofat this ~~lawsuits~~time ~~have~~to ~~been~~estimate ~~filed~~a byrange ~~nongovernmental~~of ~~parties~~potential orexposure, inif ~~the future~~any, ~~may~~for beamounts ~~filed~~that bymay ~~additional~~be ~~governmental~~payable orin ~~nongovernmental~~connection ~~parties~~with ~~seeking~~these ~~damages~~matters orand ~~other~~loss ~~remedies~~contingency ~~related~~accruals tohave ~~similar~~not ~~issues raised~~been byestablished. ~~the~~It ~~CFPB~~is ~~and~~possible ~~the~~that ~~State~~an ~~Attorneys~~adverse ~~General.~~ruling Inor ~~January~~rulings ~~2022,~~may ~~Navient~~have ~~entered~~a material ~~into~~adverse aimpact ~~series~~on ofNavient, ~~Consent~~Navient ~~Judgment~~Solutions and/or ~~Orders~~their ~~(the~~affiliates ~~“Agreements”)~~or ~~with~~on 40the ~~State~~financial ~~Attorneys~~ability ~~General~~of ~~to resolve all matters in dispute related to~~ the ~~State~~depositor, ~~Attorneys General cases as well as~~ the ~~related~~servicer ~~investigations,~~or ~~subpoenas,~~a ~~civil~~seller ~~investigative~~to ~~demands~~fulfill ~~and~~an ~~inquiries~~obligation ~~from~~to ~~various~~purchase ~~other~~or ~~state~~repurchase ~~regulators.~~trust ~~These~~student ~~Agreements~~loans doin ~~not~~connection ~~resolve~~with ~~the~~a ~~litigation~~breach ~~involving~~of representation, ~~Navient~~warranty ~~and~~or ~~the CFPB~~covenant.

~~Navient~~In ~~believes~~January 2017, the ~~allegations~~Consumer inFinancial Protection Bureau (the “CFPB”) ~~suit~~and ~~are~~the ~~false~~Attorneys ~~and~~General ~~that~~for ~~they~~the ~~improperly~~State ~~seek~~of toIllinois ~~impose~~and ~~penalties~~the onState ~~Navient~~of ~~based~~Washington oninitiated ~~new,~~civil ~~previously~~actions ~~unannounced~~naming ~~servicing~~Navient ~~standards~~and ~~applied~~several ~~retroactively~~of ~~against~~its ~~only~~subsidiaries ~~one~~(including Navient ~~servicer.~~Solutions) ~~Navient~~as ~~therefore~~defendants ~~has~~alleging ~~denied~~violations ~~these~~of ~~allegations~~certain Federal and ~~are~~State ~~vigorously~~consumer ~~defending~~protection ~~against~~statutes, including the ~~allegations~~CFPA, inthe ~~that case. At this point in time~~FCRA, itthe isFDCPA ~~reasonably~~and ~~possible~~various ~~that~~state aconsumer ~~loss~~protection ~~contingency~~laws. ~~exists;~~The ~~however,~~Attorneys ~~Navient~~General isfor ~~unable~~the toStates ~~anticipate~~of ~~the~~Pennsylvania, ~~timing~~California, ofMississippi, aand ~~resolution~~New orJersey ~~the~~also ~~impact~~initiated ~~that~~actions anagainst ~~adverse~~Navient ~~ruling~~and incertain ~~the~~subsidiaries ~~CFPB~~alleging ~~case~~violations ~~may~~of ~~have~~various onstate ~~Navient’s~~and ~~consolidated~~federal ~~financial~~consumer ~~position,~~protection ~~liquidity,~~laws ~~results~~based ofupon ~~operation~~similar oralleged ~~cash~~acts ~~flows.~~or Asfailures ato ~~result,~~act. itIn isaddition ~~not~~to ~~possible~~these matters, ata ~~this~~number ~~time~~of tolawsuits ~~estimate~~have abeen ~~range~~filed ~~of potential~~by ~~exposure,~~nongovernmental ifparties ~~any~~or, ~~for~~in ~~amounts~~the ~~that~~future, may be ~~payable~~filed inby ~~connection~~additional ~~with~~governmental ~~this~~or ~~matter~~nongovernmental ~~and~~parties ~~reserves~~seeking ~~have~~damages ~~not~~or ~~been~~other ~~established.~~remedies Itrelated isto ~~possible~~similar ~~that~~issues anraised ~~adverse~~by ~~ruling~~the orCFPB ~~rulings~~and ~~may~~the State ~~have~~Attorneys aGeneral. ~~material~~In ~~adverse~~January ~~impact on Navient~~2022, Navient ~~Solutions and/or~~entered ~~their~~into ~~affiliates~~a orseries onof ~~the~~Consent ~~financial~~Judgment ~~ability~~and ofOrders ~~Navient~~(the ~~Solutions~~“Agreements”) towith ~~fulfill~~40 anState ~~obligation~~Attorneys General to ~~purchase~~resolve ~~student~~all ~~loans~~matters in ~~connection~~dispute ~~with~~related ato ~~breach~~the ofState ~~covenant.~~Attorneys ItGeneral iscases ~~possible~~as ~~that~~well anas ~~adverse~~the related ~~ruling~~investigations, orsubpoenas, ~~rulings~~civil ~~may~~investigative ~~have~~demands aand ~~material~~inquiries ~~adverse~~from ~~impact on~~various ~~the~~other ~~trust~~state ~~student loans~~regulators. In ~~either~~These ~~case,~~Agreements ~~the~~do ~~payments~~not onresolve ~~your~~the ~~notes~~litigation ~~may~~involving beNavient ~~adversely~~and ~~affected~~the CFPB.

~~On April 12, 2023,~~ Navient ~~reached~~believes anthe ~~agreement~~allegations in ~~principle~~the ~~(“Settlement”)~~CFPB ~~with~~suit ~~certain~~are ~~plaintiffs~~false ~~for~~and athat ~~nationwide~~they ~~settlement~~improperly ofseek ~~claims~~to ~~raised~~impose inpenalties ~~the~~on ~~following bankruptcy adversary actions: Coyle v.~~ Navient ~~Solutions,~~ ~~LLC,~~based ~~No.~~on ~~22-80018 (Bankr. W.D. Mich.); Homaidan v. SLM Corp.~~new, ~~No.~~previously ~~1:17-ap-01085~~unannounced ~~(Bankr.~~servicing ~~E.D.N.Y.);~~standards ~~Mazloom~~applied v.retroactively ~~Navient~~against ~~Solutions,~~only ~~LLC,~~one Noservicer. ~~20-80033-6 (Bankr. N.D.N.Y.); and Woodard v.~~ Navient ~~Solutions, LLC, No. 08-81442 (Bankr. D. Neb.)~~therefore ~~collectively~~has ~~referred~~denied tothese asallegations ~~the~~and ~~“Bankruptcy Cases.” This settlement in principle~~ is ~~subject,~~vigorously ~~among~~defending ~~other~~against ~~things,~~the toallegations ~~final~~in ~~documentation~~that ~~and final court approval~~case. ~~Under~~Due ~~the Settlement, Navient will forego the collection of defined balances for borrowers or co-borrowers of certain private loans — all of which were originated prior~~ to ~~Navient’s~~recent ~~separation~~developments ~~— who have received a discharge~~ in ~~bankruptcy~~connection ~~during~~with the ~~periods~~CFPB ~~covered~~case, byNavient ~~the~~accrued ~~agreements. As~~ a ~~result,~~probable ~~Navient~~incurred ~~recorded~~loss of $2345 million ~~additional~~ ~~private loan provision for loan losses~~ in the ~~first~~third quarter of 2023 ~~related to the estimated future charge offs that are expected to occur~~. ~~Navient has also agreed to fund settlement funds. It anticipates that any cash contribution it will~~ The belitigation ~~required~~process tois ~~make to these funds will~~ not ~~exceed~~predictable ~~$44 million in the aggregate~~ and ~~will~~can belead ~~fully covered by insurance. The net impact~~ to ~~operating~~unexpected ~~expense~~results ~~for~~and ~~this~~therefore ~~element~~it ofis ~~the~~reasonably ~~settlement~~possible ~~for~~that ~~the~~Navient’s ~~first~~exposure ~~quarter of 2023 was $0 due~~ to ~~the~~loss ~~accrual~~may ~~of the~~exceed ~~offsetting~~any ~~insurance~~amounts ~~reimbursements~~accrued.

On April 12, 2023, Navient reached an agreement in principle (“Settlement”) with certain plaintiffs for a nationwide settlement of claims raised in the following bankruptcy adversary actions: Coyle v. Navient Solutions, LLC, No. 22-80018 (Bankr. W.D. Mich.); Homaidan v. SLM Corp., No. 1:17-ap-01085 (Bankr. E.D.N.Y.); Mazloom v. Navient Solutions, LLC, No. 20-80033-6 (Bankr. N.D.N.Y.); and Woodard v. Navient Solutions, LLC, No. 08-81442 (Bankr. D. Neb.) collectively referred to as the “Bankruptcy Cases.” This settlement in principle is subject, among other things, to final documentation and final court approval. Under the Settlement, Navient will forego the collection of defined balances for borrowers or co-borrowers of certain private loans — all of which were originated prior to Navient’s separation — who have received a discharge in bankruptcy during the periods covered by the agreements. As a result, Navient recorded a $23 million additional private loan provision for loan losses in the first quarter of 2023 related to the estimated future charge offs that are expected to occur. Navient has also agreed to fund settlement funds. Navient anticipates that any cash contribution it will be required to make to these funds will not exceed $44 million in the aggregate and will be fully covered by insurance. The net impact to operating expense for this element of the settlement for the first quarter of 2023 was $0 due to the accrual of the offsetting insurance reimbursements.

The following three paragraphs are disclosure received from Deutsche Bank National Trust Company and Deutsche Bank Trust Company Americas. Deutsche Bank National Trust Company (“DBNTC”) and Deutsche Bank Trust Company Americas (“DBTCA”) have been sued by investors in civil litigation concerning their role as trustees of certain residential mortgage-backed securities (“RMBS”) trusts.

On September 27, 2017, DBTCA was added as a defendant to a case brought by certain special purpose entities including Phoenix Light SF Limited in the U.S. District Court for the Southern District of New York, in which the plaintiffs previously alleged incorrectly that DBNTC served as trustee for all 43 of the trusts at issue. On September 27, 2017, plaintiffs filed a third amended complaint that names DBTCA as a defendant in addition to DBNTC. DBTCA serves as trustee for one of the 43 trusts at issue. DBNTC serves as trustee for the other 42 trusts at issue. Plaintiffs’ third amended complaint brings claims for violation of the U.S. Trust Indenture Act of 1939 (“TIA”); breach of contract; breach of fiduciary duty; negligence and gross negligence; violation of the New York Streit Act (“Streit Act”); and breach of the covenant of good faith. However, in the third amended complaint, plaintiffs acknowledge that, before DBTCA was added to the case, the court dismissed plaintiffs’ TIA claims, negligence and gross negligence claims, Streit Act claims, claims for breach of the covenant of good faith, and certain theories of plaintiffs’ breach of contract claims, and plaintiffs only include these claims to preserve any rights on appeal. Plaintiffs allege damages of “hundreds of millions of dollars.” On November 13, 2017, DBNTC and DBTCA filed an answer to the third amended complaint. On December 7, 2018, DBNTC and DBTCA filed a motion for summary judgment. Also on December 7, 2018, plaintiffs, jointly with Commerzbank AG (see description of Commerzbank case below), filed a motion for partial summary judgment. On October 27, 2021, DBNTC and DBTCA filed a supplemental motion for summary judgment relating to plaintiffs’ standing. On February 8, 2022, the court issued an order in which it granted DBNTC and DBTCA’s supplemental motion for summary judgment, granted in part DBNTC and DBTCA’s initial motion for summary judgment, and denied plaintiffs’ motion for partial summary judgment. As a result of that order, all of plaintiffs’ claims were dismissed with prejudice. On April 26, 2023, the United States Court of Appeals for the Second Circuit affirmed the court’s summary judgment order.

On December 30, 2015, IKB International, S.A. in Liquidation and IKB Deutsche Industriebank A.G. (collectively, “IKB”), as an investor in 37 RMBS trusts, filed a summons with notice in the Supreme Court of the State of New York, New York County, against DBNTC and DBTCA as trustees of the trusts. On May 27, 2016, IKB served its complaint asserting claims for breach of contract, breach of fiduciary duty, breach of duty to avoid conflicts of interest, violation of the Streit Act, violation of the TIA, violation of Regulation AB, and violation of Section 9 of the Uniform Commercial Code. IKB alleges that DBNTC and DBTCA are liable for over U.S. $268 million in damages. On October 5, 2016, DBNTC and DBTCA, together with several other trustees defending lawsuits by IKB, filed a joint motion to dismiss. On January 6, 2017, IKB filed a notice of discontinuance, voluntarily dismissing with prejudice all claims as to three trusts. On June 20, 2017, the parties filed a stipulation, voluntarily dismissing with prejudice all claims as to four additional trusts. On January 27, 2021, the court granted in part and denied in part DBNTC and DBTCA’s motion to dismiss. The court granted the motion to dismiss with respect to IKB’s claims for violations of the Streit Act, Regulation AB, and Section 9 of the Uniform Commercial Code, as well as certain aspects of IKB’s claims for breach of contract, breach of fiduciary duty, and violation of the TIA. The court denied the remainder of the motion to dismiss. IKB’s remaining claims for breach of contract, breach of fiduciary duty, breach of duty to avoid conflicts of interest, and violation of the TIA will proceed. On May 10, 2021, DBNTC and DBTCA filed a notice of appeal with the New York Supreme Court Appellate Division, First Department, regarding certain aspects of the court’s order on the motion to dismiss. On May 20, 2021, IKB filed a notice of cross appeal with respect to other aspects of that order. On August 30, 2022, the New York Supreme Court, Appellate Division, First Department affirmed in part and reversed in part the court’s order on the motion to dismiss. After DBNTC and DBTCA appealed the First Department’s decision, on June 15, 2023, the New York Court of Appeals reversed the First Department’s decision in part, dismissing certain additional contract claims, as well as IKB’s claims for breach of fiduciary duty and breach of duty to avoid conflicts of interest. On June 2, 2021, IKB filed a motion for re-argument regarding certain aspects of the court’s order on the motion to dismiss, which the court denied on August 3, 2021. On May 13, 2021, DBNTC and DBTCA filed an answer to the complaint. On October 28, 2021, the parties filed a stipulation, voluntarily dismissing with prejudice all claims as to seven additional trusts. On December 29, 2021, the parties filed a stipulation, voluntarily dismissing with prejudice all claims as to one additional trust. On April 22, 2022, the parties filed a stipulation, voluntarily dismissing with prejudice all claims as to 17 certificates at issue, including all claims as to 5 trusts. On February 28, 2023, the parties filed a stipulation, voluntarily dismissing with prejudice all claims as to two trusts, leaving 15 trusts at issue. Discovery is ongoing.

It is DBNTC’s and DBTCA’s belief that they have no pending legal proceedings, including, based on DBNTC’s and DBTCA’s current evaluation, the litigation disclosed in the immediately preceding two paragraphs that would materially affect their ability to perform their duties under the indenture for this transaction.

Item 10.

Exhibits.

(a) 99.1 Quarterly Distribution Report for SLC Student Loan Trust 2010-1 in relation to the distribution on ~~August~~November 2527, 2023.

INDEX TO EXHIBITS

Exhibit Number		Exhibit
99.1		Quarterly Distribution Report for SLC Student Loan Trust 2010-1 in relation to the distribution on ~~August~~November 2527, 2023.

SIGNATURES

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

	SLC STUDENT LOAN RECEIVABLES I, INC.
Dated: September 7, 2023	By:	/s/ Charles Jacques
Dated: December 8, 2023	By:	/s/ Charles Jacques
	Name:	Charles Jacques
	Title:	President

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Filing Compare · SLC Student Loan Trust 2010-1