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~~the ofSecurities ~~Report~~Exchange ~~(Date~~Act of ~~Earliest~~1934 ~~Event Reported): January 6, 2004~~

~~EDUCATION~~Date ~~FUNDING~~of ~~CAPITAL~~Report ~~TRUST~~(Date -of ~~III~~Earliest Event Reported): June 10, 2005

EDUCATION FUNDING CAPITAL I, LLC

(DEPOSITOR)

(Exact Name of Registrant as Specified in Its Charter)

Delaware

333-102245

27-0046437

(State or Other Jurisdiction of

Incorporation or Organization)

(Commission file Number)

(I.R.S. Employer

Identification Number)

Six East Fourth Street

Suite 310-A

Cincinnati, Ohio 45202

(Address of Principal Executive Offices)

Registrant’s Telephone Number: (866) 300-8112

EDUCATION FUNDING CAPITAL TRUST - I

(ISSUER)

(Exact Name of Registrant as Specified in Its Charter)

Delaware		333-~~103502-02~~102245		5145-~~6545467~~6117459
(State or Other Jurisdiction of Incorporation or Organization)		(Commission ~~File~~file Number)		(I.R.S. Employer Identification Number)

c/o Fifth Third Bank

MD10AT60

38 Fountain Square Plaza

Cincinnati, Ohio 45263

(Address of Principal Executive Offices)

Registrant’s Telephone Number: (513) 534-7949

~~Page~~Check 1the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of 3the registrant under any of the following provisions (see General Instruction A.2. below):

~~Exhibit~~¨ ~~Index~~Written ~~appears~~communications onpursuant ~~Page~~to 3Rule 425 under the Securities Act (17 CFR 230.425)

~~Item~~¨ 5.Soliciting ~~Other~~material ~~Events~~pursuant ~~and~~to ~~Regulation~~Rule FD14a-12 ~~Disclosure.~~under the Exchange Act (17 CFR 240.14a-12)

~~Pursuant~~¨ toPre-commencement ~~the~~communications ~~Indenture~~pursuant ofto ~~Trust~~Rule ~~dated as of October 1, 2003 as supplemented by the First Supplemental Indenture of Trust dated as of October 1, 2003~~ 14d-2(~~collectively, the “Indenture”~~b) ~~among~~under ~~Education Funding Capital Trust – III (~~the ~~“Issuer”),~~Exchange ~~Fifth~~Act ~~Third Bank, as Indenture Trustee~~ (~~the~~17 ~~“Indenture~~CFR Trustee”) and Fifth Third Bank, as eligible lender trustee for the Issuer (the “Eligible Lender Trustee”), the Indenture Trustee made available to noteholders the statement required by the Indenture, which statement is being filed as Exhibit 99240.~~1 to this Form 8~~14d-K, and in accordance with the Indenture, the Indenture Trustee was required to make distributions to the holders of the Issuer’s Education Loan Backed Notes Series 2003A-4, 2003A-7, 2003A-8, and 2003B-1. 2(b))

~~Item~~¨ 7.Pre-commencement ~~Financial~~communications ~~Statements~~pursuant ~~and~~to ~~Exhibits~~Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~(c)~~Item ~~Exhibits~~2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

Exhibit No.		Description of Document
99.1		Statement to Noteholders December 31, 2003

Redemption by Education Funding Capital Trust - I of Education Loan Backed Notes.

~~SIGNATURES~~As of June 10, 2005, all of the Education Loan Backed Notes issued by Education Funding Capital Trust – I (the “Trust”) have been redeemed and paid in full pursuant to the terms of the Indenture of Trust dated as of May 1, 2002, as supplemented by the 2002 Series A1 & B1 Supplemental Indenture of Trust dated as of February 27, 2003 (collectively, the “Indenture”) among the Trust, The Bank of New York (as successor to Fifth Third Bank), as Indenture Trustee, and Fifth Third Bank, as eligible lender trustee for the Trust. The Education Loan Backed Notes shall henceforth no longer be outstanding for purposes of the Indenture.

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, in the City of Cincinnati, State of Ohio, on January 15, 2004.

FIFTH THIRD BANK, not in its individual capacity but solely as Co-Owner Trustee for EDUCATION FUNDING CAPITAL TRUST - III By: /s/ Christine M. Schaub Christine M. Schaub Vice President

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~~EXHIBIT~~SIGNATURES ~~INDEX~~

Exhibit No.		Description of Document
99.1		Statement to Noteholders December 31, 2003

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 in the City of Cincinnati, in the State of Ohio, on June 15, 2005.


Education Funding Capital I, LLC

By:		/s/ Perry D. Moore
		Perry D. Moore
		Executive Vice President – Finance

Education Funding Capital Trust - I

By:		Education Lending Services, Inc., as Administrator

By:		/s/ Perry D. Moore
		Perry D. Moore
		Executive Vice President – Finance

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