CitiGroup used to be a major player in the private student loan market, but it no longer offers student loans. With the 2008-9 recession, Citi began tapering its student lending business, as credit restrictions grew higher and the overall lending landscape virtually dried up compared to how it had been several years earlier. Now, Citi no longer participates in the student loan business.
When they existed, Citi student loans were a high-quality option for students looking to cover their college costs. Now that Citi Financial is no longer a student lender, students need to choose from a pool of other lending options.
Federal student loans
When you’re looking for funding options for college, there’s one rule you should live by: always exhaust your federal options first. Student aid lending from the federal government have interest rates and borrower benefits that are light-years better than some private loans, and it’s generally easier to deal with the federal loan program than it is to work with private lenders.
If you find that you’ve used all of the federal aid money that you can leverage in a given academic year, it’s time to turn to private student loans as a means of bridging the financial gap between your aid package, federal loans, and the total cost of college for that year.
If you’re in the market for a private student loan, check out our comparison tool. You can use it to search for private loans at any given amount, and you can see the loans available to you based on the amount you need and the school you attend. You can even compare a variety of options side-by-side, so you understand the total cost of a given loan, what the repayment schedule will eventually be like, and so forth.
Citi student loans are no longer available to students, but there are plenty of good funding options out there. Check out our comparison tool, and find the option that’s right for you today.