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Global-CitiAssist
Distance Learning Loan
for NJIT Distance Learning Students
Global Student Loan Corporation and Citibank offer on-line students
"Global-CitiAssist Distance Learning Loans," a new private loan program
for NJIT on-line students.
Citibank, a leading provider of student education financing, Global
Student Loan Corporation, and New Jersey Institute of Technology have
joined together in a pilot program to offer private loans to on-line
students attending NJIT. The new program for on-line students is an
extension of CitiAssist, Citibank's alternative loan program introduced
in 1997.
- The "Global Loan" is a competitively priced product (prime rate plus
3%) being made available to NJIT distance learners.
- The program is designed to meet the gap between the cost of
education and any other financial aid an on-line student may receive.
The annual loan limit for the program is $12,500.
- On-line students will be able to borrow the money in their own name
or with a co-signer.
- The loan has no application fee, and only a 3% origination fee.
- The loan offers flexible repayment options and repayment terms of up
to 12 years.
- After 48 consecutive on-time payments, the co-signer may be released
from the loan obligation.
The team that developed the program is very excited about the partnership.
As Bill Beckmann, President of Citibank Student Loan Corporation, put
it: "We are confident that this partnership has resulted in a highly
innovative addition to a comprehensive array of education financing
options. The loan will assist on-line students gain access to the premier
quality education offered by New Jersey Institute of Technology."
To apply on-line, click here. Once the
bank receives a completed application and the loan is approved, the
money will be disbursed to the student's NJIT account.
Students who have questions may call 1-800-624-9850.
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