Student loans re-established
PITTSBURGH — Citizens Bank is once again loaning money to Butler County Community College students, a college spokeswoman said Tuesday.
Earlier this month, the bank announced it wouldn't offer federal loans to two-year college students in Butler and Allegheny counties, and other schools in the state.
The announcement involved a specific type of loan called the Stafford Loan, which is offered through the Federal Family Education Loan Program.
Julianne Louttit, director of financial aid at BC3, said the reversal of decisions means students will not be affected. Students who previously had Citizens Bank loans or who had already applied for them for the fall 2008 semester will receive those loans, she said.
Louttit added that other two-year schools in the state were also notified the loans were again available.
Angie Wagner, Citizens assistant vice president of public affairs in the Pittsburgh office, said the bank re-established the loans after the U.S. Department of Education's ruling last Wednesday that requires the bank to do so.
"We will make loans to students of all schools within our footprint (entire service area of the bank within Pennsylvania)," Wagner said.
At BC3, 60 percent of the students use the financial aid program, and $4 million in student loans are used every year at the college.
M&T Bank and the Pennsylvania Higher Education Assistance Agency also have opted out of these particular types of loans this year.
