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Community Bank Student Loan Program
Community banks now have a program that makes educational loans easier to offer through an arrangement with the Independent Community Bankers of America, state community bankers associations, and the Student Loan Finance Corporation. Some smaller banks have hesitated to offer school loans because of regulatory complexities and the cost of marketing and processing them.
For this program, Student Loan Finance processes and services the loans and provides referral fees to the participating banks. They also provide marketing and service support, including statement stuffers, lobby signs, brochures, and an interactive CD that can be given to customers with college-age children.
For more information, visit the Web site that Student Loan Finance has set up to explain the program to students and banks - www.BrainScratch.com.
First published on BankersOnline.com 12/10/01
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