Citibank Launches 'Educational Loan Center'
The Student Loan Corporation's origination and servicing capabilities now
offered to other lenders.
ROCHESTER, N.Y., Jan. 12 /PRNewswire-FirstCall/ -- Citibank, through its
subsidiary, The Student Loan Corporation, raises the bar in student loan
servicing by announcing the launch of Educational Loan Center today. Educational Loan Center (ELC) will offer state-of-the-art government and
private loan origination and servicing capabilities as well as secondary market
expertise and support resources to student loan providers, including academic
and financial institutions. The new service will provide competitive
alternatives to the limited choices U.S. lenders have today. Starting
immediately, lenders will be able to leverage Citibank's scale and exceptional
capabilities to provide student loans for their customers without the need for
costly infrastructure.
ELC will provide the same high quality loan servicing offered by The Student
Loan Corporation, the first organization recognized with the Exceptional
Performer designation by the U.S. Department of Education. In 2003, this
designation was awarded to The Student Loan Corporation in recognition of its
compliance with federal student loan servicing standards and its unwavering
commitment to excellence.
"For almost 50 years, we have been recognized as an industry innovator
providing superior loan products and servicing to our schools and borrowers,"
said Sue Roberts, President of The Student Loan Corporation. "The launch of ELC
enables other providers to leverage these products and services as well as
benefit from our robust online servicing capabilities and economies of scale." ELC will also feature the Endeavor Education Loan(sm) -- which provides lenders
with the ability to offer a competitive private loan to their customers. The
Endeavor Education Loan is a great way to supplement borrowing needs for
undergraduate, graduate and health professions students as well as those
eligible for bar and residency programs.
"We look forward to creating new partnerships through Educational Loan Center,"
added Mike Reardon, CEO of The Student Loan Corporation, "and we are pleased to
be able to offer our market expertise and resources to other student loan
providers." Business partnership inquiries should be directed to .
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. Educational Loan Center, Inc. is a
subsidiary of The Student Loan Corporation.
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; Citibank CONTACT: Anita Gupta, +1-212-559-0297, or Liz Fogarty, +1-212-559-0486, , both of Citibank Public Affairs; or Brad Svalberg, Student Loan Corporation, Investor Relations, +1-203-975-6292, Web site: http://www.studentloan.com/
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