Citibank #1 Lender in Federal Student Loan Program

Apr 10, 2001, 01:00 ET from Student Loan Corporation

    NEW YORK, April 10 /PRNewswire/ -- The Student Loan Corporation (SLC)
 (NYSE:   STU), a subsidiary of Citibank, announced today that it has taken the
 #1 lender position in the Federal Family Education Loan Program (FFELP)
 according to the Department of Education Office of Postsecondary Education.
 The FFELP provides guaranteed loans to students and families nationwide.  In a
 recently issued report for fiscal year 2000, (October 1, 1999 - September 30,
 2000), SLC originated $2.06 billion in student loans to become the #1 lender.
 SLC's portfolio of education loans now exceeds $16.8 billion.
     "We are thrilled to achieve the #1 spot in the federal student loan
 program," said Bill Beckmann, Chairman, The Student Loan Corporation.  "Our
 business differentiates itself by combining  superior products, technology and
 service with a first-class team and reputation."
     SLC has aggressively leveraged technology to both enhance delivery and
 improve service.  As one of the first lenders to introduce the use of the
 Internet for student lending, SLC remains an industry leader in electronic
 delivery options.
     CitiAssist Online, which was launched in June 1999, is the online
 application and credit approval process for  private loans.  More than 50% of
 CitiAssist applications were received through http://www.studentloan.com.
 Launched in July 2000, SLC's Stafford and PLUS Online provides students and
 parents the advantage of online application and approval  of Stafford and PLUS
 loans.
     SLC recently launched Online Account Access via http://www.studentloan.com
 which provides customers with interactive tools and information to help them
 manage their student loan accounts and stay current with their payments
 online.  SLC has more than 150,000 registered online users and, during peak
 season, had more than 1 million monthly page views of its Internet sites.
 
     The Student Loan Corporation provides a full range of education financing
 products and services to meet the needs of more than 1.5 million students and
 parents and more than 2,500 schools nationwide.  SLC is the #1 originator of
 guaranteed student loans in the United States.  The company was previously a
 division of Citibank and became a New York Stock Exchange listed corporation
 in 1992 (NYSE:   STU).  Citibank remains the majority shareholder.
 
 

SOURCE Student Loan Corporation
    NEW YORK, April 10 /PRNewswire/ -- The Student Loan Corporation (SLC)
 (NYSE:   STU), a subsidiary of Citibank, announced today that it has taken the
 #1 lender position in the Federal Family Education Loan Program (FFELP)
 according to the Department of Education Office of Postsecondary Education.
 The FFELP provides guaranteed loans to students and families nationwide.  In a
 recently issued report for fiscal year 2000, (October 1, 1999 - September 30,
 2000), SLC originated $2.06 billion in student loans to become the #1 lender.
 SLC's portfolio of education loans now exceeds $16.8 billion.
     "We are thrilled to achieve the #1 spot in the federal student loan
 program," said Bill Beckmann, Chairman, The Student Loan Corporation.  "Our
 business differentiates itself by combining  superior products, technology and
 service with a first-class team and reputation."
     SLC has aggressively leveraged technology to both enhance delivery and
 improve service.  As one of the first lenders to introduce the use of the
 Internet for student lending, SLC remains an industry leader in electronic
 delivery options.
     CitiAssist Online, which was launched in June 1999, is the online
 application and credit approval process for  private loans.  More than 50% of
 CitiAssist applications were received through http://www.studentloan.com.
 Launched in July 2000, SLC's Stafford and PLUS Online provides students and
 parents the advantage of online application and approval  of Stafford and PLUS
 loans.
     SLC recently launched Online Account Access via http://www.studentloan.com
 which provides customers with interactive tools and information to help them
 manage their student loan accounts and stay current with their payments
 online.  SLC has more than 150,000 registered online users and, during peak
 season, had more than 1 million monthly page views of its Internet sites.
 
     The Student Loan Corporation provides a full range of education financing
 products and services to meet the needs of more than 1.5 million students and
 parents and more than 2,500 schools nationwide.  SLC is the #1 originator of
 guaranteed student loans in the United States.  The company was previously a
 division of Citibank and became a New York Stock Exchange listed corporation
 in 1992 (NYSE:   STU).  Citibank remains the majority shareholder.
 
 SOURCE  Student Loan Corporation