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Citibank

Citibank PLUS Loan Borrower Benefits

Citibank offers an automatic interest rate reduction of 0.25% upon repayment and if you qualify, Citibank will pay your final six monthly payments for you.


SPECIFIC INFORMATION ABOUT THE CITIBANK PLUS LOAN:
* Loan holder: Citibank of Sioux Falls, South Dakota
* Loan servicer: Citibank of Sioux Falls, South Dakota
* Guarantor: NSLP of Lincoln, Nebraska
* Loan fee: 3%
* Guarantee fee: 0%
* In-school forbearance is available while student is enrolled; interest accrues during a forbearance;
* Ability to e-sign on-line application using either your Federal PIN number OR a PIN number you create when you are ready to sign;
* Automatic borrower benefits: 0.25% interest rate reduction when loan enters repayment; final six monthly payments are paid by Citibank, must have a PLUS balance of at least $4500, disbursed after 7/1/06, and repaying using a 10 year repayment plan to qualify;
* Optional borrower benefits: 0.25% interest rate reduction with automatic payments from a bank account;
* Credit check is valid for 180 days; this means that you can apply and be pre-approved for a PLUS loan six months prior to the start of classes; be sure to complete your promissory note within 180 days of the credit check (for those who have not already completed a Master Promissory Note).


HOW TO APPLY:
Repeat borrowers, with a signed Master Promissory Note (MPN) on file, should call 1-800-394-7035 for a PLUS pre-approval credit check. Indicate that you want to apply for a RENEWAL PLUS loan. Be sure to provide the amount you wish to borrow. Once you have been pre-approved we will be notified of your loan request. You do NOT need to complete another MPN.

New borrowers may apply over the phone at 1-800-394-7035. After being pre-approved you will be mailed a paper application and promissory note to complete and return. You can also apply and sign the MPN on-line.
 



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