Word: citibank
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...under former University President Lawrence H. Summers, the University and Citibank inked a deal—now known as CitiAssist—to provide financial aid for many Harvard graduate schools, with both institutions sharing the financial risk. Three years later, Citibank agreed to underwrite all financial responsibility for the loans...
...Citibank, the consumer and corporate banking arm of financial services giant Citigroup, terminated its loan program for graduate students at Harvard last week, according to University officials...
...University was notified two days before the program was cancelled but obtained a short extension before Citibank permanently stopped accepting applications on Oct. 6, according to financial aid officers at the Harvard School of Public Health...
...Students who have already submitted applications to CitiAssist will not be affected this academic year. Citibank will continue to underwrite loans for students in coming years but no longer under the terms of the special arrangement with Harvard...
...Harvard Kennedy School’s associate director of student financial services, Stephanie S. Streletz, said that she estimates 90 to 95 percent of the Kennedy School’s CitiAssist applicants were able to submit their applications before Citibank cut the program. Fourteen percent of Kennedy School students are enrolled in the CitiAssist program this year, Streletz also said. Other schools affected by the move include the Law School, the Business School, and the Graduate School of Arts and Sciences...