Citibank Offers a 1% Savings to Pennsylvania PLUS Borrowers.ROCHESTER, N.Y. -- The Student Loan Corporation to offer Pennsylvania Federal PLUS Borrowers an Opportunity to Benefit from an Automatic Interest Rate Reduction Citibank, through its subsidiary, The Student Loan Corporation, announces a new money saving benefit for Pennsylvania Federal PLUS borrowers. As of July 1, 2005, all parents with children attending schools serviced by American Education Services (AES) will have the opportunity to receive a reduction of 1% in their interest rate(a) when choosing Citibank as their PLUS lender. The 1% interest rate savings from Citibank includes an automatic 0.75% interest rate reduction once loan repayment begins and a 0.25% interest rate reduction simply for selecting the monthly automatic bank account debit option. "We are very excited to offer PLUS borrowers in Pennsylvania a 1% interest rate reduction," said Karen Fonte, National Sales Director, The Student Loan Corporation. "This, in addition to providing 48-month in-school forbearance Refraining from doing something that one has a legal right to do. Giving of further time for repayment of an obligation or agreement; not to enforce claim at its due date. A delay in enforcing a legal right. and no guarantee fees, makes Citibank the most competitive PLUS lender in the state." In addition to Federal PLUS Loans, Citibank offers Federal Stafford and Consolidation Loans as well as private loans through its CitiAssist(R) Loan program. Competitive rates, interest rate reduction programs, and flexible repayment options make Citibank a popular choice for students and parents. In 1995, The Student Loan Corporation partnered with AES to provide low cost student loan options and cost savings programs. Parents can apply for a Citibank PLUS Loan by going to aesSuccess.org and by choosing Citibank as their lender. More information on Citibank's student loan products and services is available at studentloan.com or by calling 1-800-846-1290. (a) PLUS Loans with first disbursements between 7/1/05 and 6/30/06 are eligible for the automatic 0.75% interest rate reduction. Citibank E-Z E-Z Engdahl-Zigangirov (bound) Pay offers a 0.25% interest rate reduction for borrowers who have payments automatically withdrawn from their bank account and who receive their statements electronically. Future borrower benefits are subject to lender's discretion. Interest rate reductions and other borrower benefits terminate upon any loan delinquency delinquency Criminal behaviour carried out by a juvenile. Young males make up the bulk of the delinquent population (about 80% in the U.S.) in all countries in which the behaviour is reported. or assignment of a loan to a guarantor guarantor n. a person or entity that agrees to be responsible for another's debt or performance under a contract, if the other fails to pay or perform. (See: guarantee) GUARANTOR, contracts. He who makes a guaranty. 2. or insurer. The Student Loan Corporation (NYSE NYSE See: New York Stock Exchange : 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 other 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 higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. , 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 telecommunication Communication between parties at a distance from one another. Modern telecommunication systems—capable of transmitting telephone, fax, data, radio, or television signals—can transmit large volumes of information over long distances. 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 www.studentloan.com. |
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