Citibank Launches 'Educational Loan Center'

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 john.vidovich@citigroup.com.

The Student Loan Corporation 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/.