Citibank Subsidiary, The Student Loan Corporation, Named Exceptional Performer
By U.S. Department of Education
NEW YORK, Nov. 5 /PRNewswire-FirstCall/ -- The U.S. Department of Education
recently awarded its first and only Exceptional Performer designation to The
Student Loan Corporation, a subsidiary of Citibank.
"All of us at The Student Loan Corporation are extremely proud to be the only
recipient of the Exceptional Performer designation. This designation
acknowledges that we have consistently maintained and exceeded the highest
levels of quality and service," stated Yiannis Zographakis, CEO, The Student
Loan Corporation.
"This has a tremendous impact on our business, our school partners, our student
borrowers and our shareholders. We could not be more thrilled," stated Sue
Roberts, President, The Student Loan Corporation.
Congress created the Exceptional Performer designation in 1992 to recognize and
reward lenders for maintaining an exceptional level of performance in servicing
Federal Family Education Program (FFELP) loans. To qualify as an Exceptional
Performer, lenders and servicers must meet and maintain a 97 percent threshold
of compliance with Federal lending statutes. The Student Loan Corporation
achieved an overall compliance performance that exceeded 99 percent, as verified
by independent auditors, KPMG. "The fact that our compliance exceeded the
Department of Education's threshold by more than two percentage points
demonstrates to our customers and schools that we have an unwavering commitment
to excellence," stated Zographakis.
Dedicated staff and state-of-the art systems enable The Student Loan Corporation
to provide high quality service. The Student Loan Corporation takes the process
one step further by incorporating credit counseling to educate students about
the importance of good credit. As a result of these efforts, The Student Loan
Corporation's default rate remains better than the national average. By working
with student borrowers to maintain their good credit, The Student Loan
Corporation is helping the U.S. government hold down the cost of the Federal
Family Education Loan Program, enabling more people to utilize this program to
help better their lives.
To learn more about Citibank's student loan products and services call
1-800-846-1290, or visit http://www.studentloan.com/ 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 1.9 million
customers and over 3,000 schools nationwide.
For information on college planning and financing information or inquiries
regarding student loan accounts please call 1-800-967-2400 or visit
http://www.studentloan.com/. Hearing impaired customers with Telecommunication
Devices for the Deaf (TDD) may call 1-800-846-1298 DATASOURCE: The Student Loan Corporation CONTACT: Anita Gupta of Citibank Public Affairs, +1-212-559-0297, ; Brad Svalberg of The Student Loan Corporation Investor Relations, +1-203-975-6320 or Web site: http://www.studentloan.com/
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