Citibank Announces Financial Solution Plan for Students and Their
Families
Interest-free Plan Empowers Families and Schools with Tuition Payment Solutions
STAMFORD, Conn., Sept. 22 /PRNewswire-FirstCall/ -- Recognizing the importance
of empowering both students and schools with tuition payment solutions,
Citibank, through its subsidiary, The Student Loan Corporation, today announced
an initiative to provide tuition payment solutions. The Tuition Payment Plan
allows students and families the opportunity to electronically pay tuition
through interest-free, monthly payments and is available through participating
colleges and universities.
"Education loans, when combined with the Tuition Payment Plan, offer students
and their families even greater options for covering the rising costs of an
education," said Sue Roberts, President of The Student Loan Corporation. "This
new partnership demonstrates our commitment to providing smarter solutions for
helping all students attend the school of their choice with an interest-free
payment plan to help budget tuition costs." The enhancement to Citibank's portfolio of education loan products and services
will be provided by FACTS Management Company and utilizes the latest in
electronic funds processing. Students and their parents can enroll for the
service and personalize their payment arrangements online through FACTS'
e-Cashier service. The payment options and payment schedules on e-Cashier can
be customized for each institution. There are no interest or finance charges
assessed and no credit verification needed.
"We credit Citibank with recognizing that families face many financial
challenges and they have different financial needs requiring a variety of
solutions," said David Byrnes, President of FACTS Management Company. "FACTS
and Citibank together provide a level of customer service for schools that
helps all families address the growing challenges of paying for an education."
FACTS serves more than 3,000 educational institutions and more than 500,000
tuition paying students and families.
To learn more about the Tuition Payment Plan offered through Citibank and
administered by FACTS call Citibank Priority Services at 800-846-1290.
The Student Loan Corporation (NYSE:STU) is one of the nation's leading
originators and holders of insured student loans providing a full range of
education financing products and services to meet the needs of students,
parents, and schools. The company was previously a division of Citibank and
became a NYSE-listed corporation in 1992. Citibank, N.A. is the majority
shareholder. Citibank was one of the first banks to finance higher education,
beginning in 1958. Today, The Student Loan Corporation serves over 2 million
customers and over 3,000 schools nationwide. In 2003, The Student Loan
Corporation was the first loan servicer to be awarded the Exceptional Performer
designation, by the U.S. Department of Education. This award recognizes lenders
for maintaining an exceptional level of performance servicing Federal Family
Education Loans.
For information or inquiries regarding student loan accounts, please call
1-800-967-2400. Customers with Telecommunication Devices for the Deaf (TDD) may
call 1-800-846-1298. College planning and financing information is also
available at http://www.studentloan.com/. DATASOURCE: The Student Loan Corporation CONTACT: Brad Svalberg, Investor Relations of Student Loan Corporation, +1-203-975-6292, or ; or Anita Gupta, Public Affairs of Citibank, +1-212-559-0297, or Web site: http://www.studentloan.com/
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