Citibank Announces Strategic Alliance with Education Lending Group; Educational Loan Center to Provide Education Lending Group with Loan Origination, Servicing, and Secondary Market Support.STAMFORD, Conn. -- Citibank, through its subsidiary, The Student Loan Corporation, a leading originator of student loans, today announced that they and national student loan organization, Education Lending Group, Inc., a CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. company (NYSE NYSE See: New York Stock Exchange : CIT), have formed a strategic partnership to help parents nationwide pay for their children's education. "We are proud to form a strategic alliance with a company that is as dedicated as we are to providing full-service education funding solutions to customers," said Michael Reardon Michael Reardon can refer to:
Please [ improve this article] or discuss the issue on the talk page. and life-of-loan servicing to parents who obtained Federal PLUS Loans through Education Lending Group. It's a win-win for both companies, as well as for parents and colleges nationwide." Robert deRose, co-CEO, Education Lending Group, Inc., echoes these sentiments. "This alliance combines the financial resources, industry expertise and product knowledge of two companies that share the same vision, have similar values and strive to be leaders in education financing. Our partnership with The Student Loan Corporation will enable us to better serve the needs of our customers by providing them with innovative products and streamlined loan servicing. Meeting the unique needs of every one of our parents and school customers is our ultimate goal." 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 approximately 1.7 million customers and over 3,000 schools nationwide. About Education Lending Group Education Lending Group, Inc., a CIT Company, is a full-service provider of financial aid products to students, parents and schools. Based in San Diego with subsidiary companies in Cleveland and Cincinnati, Ohio, Education Lending Group is a registered trademark of Education Lending Group, Inc. For more information, call 1-858-617-6080 or visit www.edlending.com. About CIT CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Founded in 1908, CIT has nearly $60 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries. CIT, a Fortune 500 company and a component of the S&P 500 Index, holds leading positions in vendor financing Vendor Financing The lending of money by a company to one of its customers so that the customer can buy products from it. By doing this, the company increases its sales even though it is basically buying its own products. , factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending Asset-Based Lending A business loan secured by collateral (assets). The loan, or line of credit, is secured by inventory, accounts receivable and/or other balance-sheet assets. Also known as "commercial finance" or "asset-based financing". . CIT, with its principal offices in Livingston, New Jersey and New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , has approximately 6,000 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim. For more information, visit http://www.cit.com. The Student Loan Corporation (NYSE: STU STU Student STU Secure Telephone Unit STU St. Thomas University (Fredericton, New Brunswick) STU St. Thomas University (Miami, Florida) STU SHDSL ) 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 approximately 1.7 million customers and over 3,000 schools nationwide. Educational Loan Center, Inc. is a subsidiary of The Student Loan Corporation. About Citibank Citibank is a member of Citigroup (NYSE: C), the leading global financial services company which has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com. For information or inquiries regarding student loan accounts, please call 1-800-967-2400. Customers with Telecommunication Devices for the Deaf (TDD (Time Division Duplexing) A transmission method that uses only one channel for transmitting and receiving, separating them by different time slots. No guard band is used. Contrast with FDD. See also TDD/TTY. TDD - Telecommunications Device for the Deaf ) may call 1-800-846-1298. College planning and financing information is also available at studentloan.com. Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and . These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Citigroup's filings with the Securities and Exchange Commission. |
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