<PAGE>


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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) September 26, 2006
                                                        ------------------


                       The National Collegiate Funding LLC
               (Exact Name of Registrant as Specified in Charter)

          DELAWARE                    333-128413               65-1177163
          --------                    ----------               ----------
(State or Other Jurisdiction         (Commission             (IRS Employer
     of Incorporation)               File Number)         Identification No.)


   800 Boylston Street, 34th Floor, Boston, MA                02199-8157
   -------------------------------------------                ----------
    (Address of Principal Executive Offices)                  (Zip Code)

        Registrant's telephone number, including area code (800) 895-4283
                                                           --------------

 ------------------------------------------------------------------------------
         (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 (see General Instruction A.2. below):

[  ] 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))


<PAGE>

SECTION 8 - OTHER EVENTS

ITEM 8.01 OTHER EVENTS.

The consolidated financial statements of The Education Resources Institute, Inc.
("TERI") as of and for the years ended June 30, 2005 and June 30, 2006, prepared
in accordance with accounting principles generally accepted in the United States
of America, included in the free writing prospectus have been incorporated
herein in reliance on the reports of PricewaterhouseCoopers LLP, Independent
Registered Public Accounting Firm, given on the authority of that firm as an
expert in accounting and auditing.

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(c) Exhibits.

Exhibit
  No.                           Description
--------                        -----------
23.1        Consent of PricewaterhouseCoopers LLP, Independent Registered Public
            Accounting Firm of TERI.


<PAGE>

                                   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.

Date: September 26, 2006


                                    THE NATIONAL COLLEGIATE FUNDING LLC



                                    By: /s/ Donald R. Peck
                                        ----------------------------------------
                                        Donald R. Peck
                                        Chief Financial Officer and Treasurer
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{"company-data": {"conformed-name": "NATIONAL COLLEGIATE FUNDING LLC", "cik": "0001223029", "assigned-sic": "6189", "irs-number": "000000000"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-113336", "film-number": "061109929"}, "business-address": {"street1": "800 BOYLSTON STREET 34TH FLOOR", "city": "BOSTON", "state": "MA", "zip": "02199-8157", "phone": "(800) 895-4283"}, "former-company": {"former-conformed-name": "FMC EDUCATION FUNDING LLC", "date-changed": "20030314"}}
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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) September 26, 2006
                                                        ------------------

                       The National Collegiate Funding LLC
               (Exact Name of Registrant as Specified in Charter)

          DELAWARE                    333-128413               65-1177163
          --------                    ----------               ----------
(State or Other Jurisdiction         (Commission             (IRS Employer
     of Incorporation)               File Number)         Identification No.)

   800 Boylston Street, 34th Floor, Boston, MA                02199-8157
   -------------------------------------------                ----------
    (Address of Principal Executive Offices)                  (Zip Code)

        Registrant's telephone number, including area code (800) 895-4283
                                                           --------------

 ------------------------------------------------------------------------------
         (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 (see General Instruction A.2. below):

[  ] 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))
SECTION 8 - OTHER EVENTS

ITEM 8.01 OTHER EVENTS.

The consolidated financial statements of The Education Resources Institute, Inc.
("TERI") as of and for the years ended June 30, 2005 and June 30, 2006, prepared
in accordance with accounting principles generally accepted in the United States
of America, included in the free writing prospectus have been incorporated
herein in reliance on the reports of PricewaterhouseCoopers LLP, Independent
Registered Public Accounting Firm, given on the authority of that firm as an
expert in accounting and auditing.

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(c) Exhibits.

Exhibit
  No.                           Description
--------                        -----------
23.1        Consent of PricewaterhouseCoopers LLP, Independent Registered Public
            Accounting Firm of TERI.
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.

Date: September 26, 2006

                                    THE NATIONAL COLLEGIATE FUNDING LLC

                                    By: /s/ Donald R. Peck
                                        ----------------------------------------
                                        Donald R. Peck
                                        Chief Financial Officer and Treasurer