Word: citibank
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Citibank, the consumer and corporate banking arm of Citigroup, terminated its custom loan program with international graduate students at Harvard earlier this month, according to University officials. The bank is also canceling similar agreements with international students at schools including MIT and the University of Michigan, financial aid officers at those schools said...
...Citibank will honor all CitiAssist loans that were processed before the programs’ termination and will continue to underwrite loans for students in coming years, but no longer under the terms of the special arrangements with the affected schools...
Harvard’s arrangement with Citibank was discontinued Oct. 6. International students at all 10 graduate schools have been affected by the change...
...then-University President Lawrence H. Summers inked the deal with Citibank to provide loans for the University’s graduate students, with both institutions sharing the financial risk. Three years later, given the exceptionally low default rate on the program, Citibank agreed to underwrite all financial responsibility for the loans...
Laurie A. Hogan, the University’s financial aid liaison officer, said that she expects loan terms and interest rates for all graduate students taking out CitiAssist loans to change. Citibank will base decisions on an individual’s credit profile, Hogan said...