The Student Loan Corporation

2008-11-24 13:56:59

( Financial )



About the Student Loan Corporation

Founded in 1958, the Student Loan Corporation is a subsidiary of the Citi Group of companies which includes the largest financial institution in the country. Like any other student loan company, it is engaged in packaging and servicing loans for educational purposes.

As a leader in its market, the Student Loan Corporation has provided financial assistance to over a million students, and its loans are guaranteed under the Federal Family Education Loan Program. It has maintained close alliances with various schools to ensure that only the right amounts are borrowed and that the loans are properly serviced.

Types of Student Loan Packages

The Student Loan Corporation recognizes the fact that courses vary in terms of length of study and demands. It has five different loan packages that are geared for each sector, including one for parents. Thus, there are loan packages for undergraduate and graduate levels, as well as for law and medical fields.

Each package has its own loan conditions and terms, well-suited to the type of student it is catering to. On the average, most loans have standard repayment period of ten years. Under each category, you may also have several choices, depending on whether you prefer fixed or adjustable interest rates, and what repayment patterns would work best for your case. There are packages with lower origination fees and reasonable payment periods, with rate reductions for prompt payments. Each package also specifies the maximum amount you can borrow per year.

Qualifications for Student Loan Corporation's Packages

You must be enrolled as a full or half time student, or be a parent of one. You must also have a satisfactory credit history rating. You must also be a US citizen or be an eligible non-citizen. Some types of loans may also specify a minimum eligible age.

Applying for a Loan with Student Loan Corporation

You can either call the toll free number of Student Loan Corporation or access Student Loan com to fill out an online loan application.

To assist you on your decision, the site also features built-in college budget and loan repayment calculators.

It is best to consult a loan officer of Student Loan Corporation and your college or university regarding your loan package options.


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