FOR IMMEDIATE RELEASE
Loyola University Chicago Selects Citibank for School as Lender Partner
STAMFORD, CT Loyola University Chicago announced today that they have selected The Student Loan Corporation, a subsidiary of Citibank, as a partner for Loyola’s School as Lender program. Under this program, Citibank will provide Loyola with life of loan servicing, funding and secondary market support so that Loyola can make Federal Stafford loans to its students.
“We’re very pleased to be working with Citibank as our partner in our School as Lender program,” says Bill Laird, Chief Financial Officer at Loyola University Chicago. “Our partnership with Citibank provides us with the experience of a national lender and offers us a comprehensive education financing solution for the university’s graduate and professional students.”
Under this program, Loyola will pay, on behalf of the borrower, the 3% origination fee that is typically charged to the student, saving students money and allowing them to receive 100% of their loan funds.
Citibank’s partnership with Loyola will provide innovative products and services that will benefit both Loyola and its students by offering:
* Extraordinary loan servicing
* Exceptional savings
* Customized marketing support
* A Committed team of Lender Relations professionals
* Dedicated program managers
* Convenient online access for students to complete forms
“Citibank’s School as Lender solution allows Loyola to make loans to their graduate and professional students, providing vital financial aid,” says Michael Reardon, Chief Executive Officer and President of The Student Loan Corporation. “The program’s turnkey approach to lending equips them with Citibank’s proven structure and support to make this process efficient and successful. This program is another example of how Citibank understands and fulfills customer needs”
A member of Citigroup, the world’s premier financial organization, The Student Loan Corporation is one of the country’s leading originators of student loans. Today, The Student Loan Corporation serves 1.7 million customers and over 3,000 schools nationwide.
About Loyola University Chicago
Committed to preparing people to lead extraordinary lives, Loyola University Chicago was founded in 1870 and is among the largest of Jesuit colleges and universities in the United States. Loyola has a total enrollment of 14,000 students, which includes 8,500 undergraduates, hailing from all 50 states, as well as 82 foreign countries. The University has four campuses, three in the greater Chicago area and one in Rome, Italy. Loyola’s nine schools and colleges include: arts and sciences, business administration, education, grad studies, law, medicine, nursing, professional studies, and social work. Loyola offers 52 undergraduate majors, 59 master’s degrees and doctoral degrees. Recognizing Loyola’s excellence in education, U.S. News and World Report has ranked Loyola consistently among the “top national universities” and “best values” in its annual publications. For more information, please visit site at www.luc.edu.
Citibank, N.A. is a member of Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries. Citigroup provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: www.citigroup.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, schools and lenders. 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 1.7 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 studentloan.com.
Other Media Contacts:
Anita Gupta, Public Affairs
Brad Svalberg, Investor Relations
The Student Loan Corporation