Citibank Simplifies the Financial Aid Process for Parents, Students, and Financial Aid Administrators With Stafford Online and PLUS Online Available On www.studentloan.com

Business Wire, August 8, 2000

Business Editors & Education Writers

NEW YORK--(BUSINESS WIRE)--Aug. 8, 2000

Students need financial aid to get a college degree,

but no longer need a college degree

to figure out how to get financial aid

Prospective college students and parents often feel overwhelmed trying to make sense of all the financial aid information available both on and off the Internet. Lengthy applications, credit checks and a host of different loan types can make getting financial aid seem more difficult than receiving a college degree.

Citibank today launched two new online initiatives, Stafford Online and PLUS Online, through its subsidiary The Student Loan Corporation (NYSE:STU). Accessible through www.studentloan.com, both applications have been designed to minimize confusion about financial aid, saving time for students and parents while giving financial aid administrators (FAAs) even more control over the student loan process.

"Citibank's online initiatives have been specifically tailored to provide parents, students, and FAAs with the most convenient, user-friendly environment possible in which to make informed financial aid decisions," said Bill Beckmann, President and CEO of The Student Loan Corporation. "Working closely with FAAs has helped us better understand the financial needs and challenges of college students. Our enhanced site supplies all the tools and information needed to stay on top of the ever-changing student lending environment."

Students and parents registered with studentloan.com have an online advantage with Stafford Online and Plus Online. Through one Internet portal, www.studentloan.com, they can apply online for both Stafford Loans and Parental Loans for Undergraduate Students (PLUS) as well as access useful information about financial aid.

Stafford Online enables parents and students to complete, print and submit a Master Promissory Note (MPN) online 24 hours a day, 7 days a week.

PLUS Online gives parents more options. They can simply apply online. Or with a quick, five-minute credit decision, PLUS pre-screen saves time for parents notifying them beforehand if they meet the eligibility requirements for the PLUS loan.

These new initiatives follow on the heels of CitiAssist Online. Launched with great success last year, CitiAssist Online provides students with the ability to apply for Citibank's private loan with 5-minute approvals. Studentloan.com is a comprehensive Internet portal for all education financing solutions from high school through repayment.

Additional Enhancements to studentloan.com

Studentloan.com continues to be the premier provider of comprehensive information about financing your education and has added new features as well as relevant and useful content areas including:

-- A registration component that will save information and

automatically pre-fill information on online applications;

-- Updated links to online resources for college financing - from

loans to scholarships;

-- Broader scope of content describing to students and parents

the application process from beginning to end;

-- Special home pages dedicated specifically for High School

students, College students, and parents;

-- A budget calculator to help students gauge their overall

financial needs.

Citibank puts the speed and ease of the latest technology at FAAs fingertips

Citibank has long been committed to providing FAAs with all the tools they need to gain more control over the financial aid process so they can continue to help students make smarter financial choices. In 1999 alone, more than 1600 FAAs at over 600 campuses accessed FAA Online Services. Recent enhancements to FAA Online Services, will make it even easier for FAAs to manage the loan application process, review accounts, and run loan management reports with new features including:

-- Quick Notifications - FAAs can request when to receive email

notifications, daily, weekly or monthly, of pending

transactions for their schools.

-- Online Certification - FAAs can choose to certify students for

CitiAssist and Stafford Certifications right at their desktops

without waiting for faxes or paper mail.

-- More real-time transactions - With one logon name and

password, FAAs can complete transactions such as Hold and

Release, loan amount adjustments, loan period changes, and

loan disbursement date changes and cancellations for each of

their schools' various campuses.

About The Student Loan Corporation

The Student Loan Corporation (SLC) provides a full range of education financing products and services to meet the needs of students, parents and schools across the country. SLC is a leading originator and holder of guaranteed student loans in the United States. It originates, holds and services student loans. The company was previously a division of Citibank and became a New York Stock Exchange listed corporation in 1992. Citibank remains the majority shareholder.

Citibank was one of the first banks to finance higher education, beginning in 1958. Today, The Student Loan Corporation is an industry leader, serving over one million customers.