PR - Citibank Launches Consolidation Program for Student Loans

The new Citibank Private Consolidation Loan allows consumers to better manage their expenses by combining qualifying private student loans into a single loan with a potentially lower monthly payment. Additionally, Citibank offers consumers the ability to choose between a low fixed or variable interest rate – whichever works better for them. Consumers also benefit from the simplicity and convenience of receiving a single statement and making a single payment each month.

"We are excited to offer consumers the potential opportunity to lower their monthly payments and manage their cash flow more effectively. We are one of the few lenders to offer the choice of a fixed or variable interest rate, which gives consumers more flexibility in their finances," said Michael Reardon, Chairman, President, and CEO of The Student Loan Corporation.

The Citibank Private Consolidation Loan offers numerous benefits, including interest rate reductions for enrolling in an auto-debit payment program and for making a set number of monthly payments on-time. Consumers who do not have an established credit history may apply with a qualified co-signer to increase their chances of receiving a loan with the most attractive terms. By consolidating, consumers extend their repayment term, providing increased financial flexibility, with no penalty for early repayment.