A student loan corporation is a complete financial aid services company that manages loan applications of students and client accounts. There are also a number of student loan corporations that act as civic services and are a part of the state funded loan programs. An example of a student loan corporation would be the Kentucky Higher Education Student Loan Corporation which is a non profit student loan processing service works for the Kentucky State government.
Like other educational loan services, these student loan corporations give students advice on saving for a college education, choosing and applying for the right kind of student loan. They also give detailed and comprehensive information on repaying the loan and at times give options on how to apply for debt consolidation loans.
The Student Loan Corporation is a subsidiary of Citibank and is one of the leading educational lending institutions in the country. They manage the loan accounts of millions of students and thousands of educational institutions. At present, Citibank, in conjunction with the Student Loan Corporation, has joined forces with Yahoo to offer students an online Student Resource Center.
Any student loan corporation handles the business end of college funding. It is an enormous undertaking for each bank, college and university to manage their student loans. The technological demands of such an undertaking have increased the need to outsource data management and critical account services. The business of student loans is a specialized branch of the banking industry. Therefore, most private banks have also become involved in the student loan business.
About the writer: Nigel Kerry is an American free lance writer born in
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