Charter One - A Smart Source for Education

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1 What s Inside The Smart Source for Education Financing Our History - Corporate Background Our Commitment to Communities Our Commitment to Education Our Proven Track Record Our People and Our Partners Our Ongoing Support Our Solutions Our Contact Information At Charter One, we take pride in our reputation as a lender with a strong commitment to financial aid administrators, students, parents, and the entire community. It s why we re not your typical education lender, and why we re helping make education possible. Financial Aid Administrator Handbook Loan Options Federal Loan Programs Alternative Loan Programs Other Services Institutional Services Personal Banking Services To make Charter One your Education Financing resource, contact us today: charterone.com/edu Charter One Credo Our Contact Information Look inside for Charter One Education Finance Solutions... Member FDIC CS# EFBR10077H0 3,750 07/07 Order# COFAAH07 Information to help you and your students.

2 Providing a solid foundation for you and your students. Dear Valued School Client: When you partner with us, you and your students will benefit from The highest level of personal attention and detail, no matter how big or small your school. A full line of products and services. We continually assess our offerings to ensure we re meeting the needs of you and your students. Assistance from an experienced and knowledgeable Account Executive. Your Account Executive is your advocate and will take the time to get to know you and your staff. An educated resource to help keep you and your students informed of industry news and trends. Ongoing support from our experienced team of sales, customer service, marketing, and vendor relations professionals, as well as our Senior Management team. When you choose Charter One, you ll get a rare combination of global strength and local service. Customer Do whatever you can every day, in every way, to provide world-class service. Consistently exceed customer expectations. Always honor our commitment to the customer. Headquartered in Providence, RI, Citizens Financial Group, Inc., was formed in 1871 as a commercial bank in Providence s busy market center, Hoyle Square. Colleagues In December 1988, Citizens Financial Group became a wholly owned subsidiary of The Royal Bank of Scotland Group plc (RBS). With the acquisition of Charter One on September 1, 2004, Citizens Financial Group, Inc., is now the nation s eighth-largest commercial bank holding company with $155 billion in assets, more than 1,600 offices, approximately 3,800 ATMs, and more than 26,000 employees in 13 states. Headquartered in Edinburgh, RBS has grown into one of Europe s leading financial services groups, and has given Citizens Financial Group the stability and support of an international financial service company and a partner for growth. Over the past 18 years, this support has made Citizens a steady contributor to RBS success. By market capitalization, The Royal Bank of Scotland is the second largest bank in the UK, the third largest in Europe, and the eighth largest in the world. As of June 30, 2006, RBS had assets of more than $1.5 trillion, a network of more than 2,200 branches in the UK, and more than 135,800 employees worldwide. Every colleague will be treated with dignity and respect at all times. Community We believe great communities have a moral core. We care deeply about our communities, and we demonstrate this commitment every day by volunteering where there is need. Our History Charter One Credo Discover why Charter One is the Smart Source for Education Financing At Charter One, we believe in education and in doing everything possible to make it a reality for your students. We observe the highest ethical standards in working with colleges and universities to help students and families pursue a postsecondary education. It is these beliefs that have earned us the number one Bank Lender ranking in New England and have allowed us to become the preferred lender at leading colleges and universities like yours. And it s how we ve built powerful and long-lasting relationships with financial aid professionals like you. As we grow, our commitment to our customers, colleagues, and communities remains unchanged, as evidenced by the Charter One Credo. On the next few pages, you ll read about our commitment not only to Education Finance, but to serving our customers and the communities where they live and work. I invite you to learn more about us and to discover why Charter One is the smart source for education financing. Sincerely, Michael McFarlane, Director Education Finance CFG has not only consistently provided great customer service to us in the Financial Aid Having the ability to talk directly with a senior vice president about my concerns shows me they truly Office, but to our students as well. They offer some of the most competitive products and make are interested in being a partner to Emerson. Personable, accessible and knowledgeable are the words doing business with them not painless, but pleasant. I used to describe the folks at CFG. -Michele Kosboth, Director of Financial Aid, Lasell College in Newton, MA -Michelle Smith, Director of Financial Aid, Emerson College in Boston, MA

3 Helping build stronger, more educated communities. At Charter One, we recognize that to truly serve our customers, we must serve the communities where they live and work. Year after year, we re proud to support a wide range of organizations and causes dedicated to making life better in the communities we serve. Here are some highlights: Champions in Action an innovative corporate giving program that provides financial and marketing support to outstanding non-profit organizations. For more information visit charterone.com/community. Tools for School Program a growing program designed to collect new school supplies at Charter One branches for disadvantaged children. The Citizens Charitable Foundation the principal charitable contribution vehicle for Citizens Financial Group, which is focused on housing, community development, and basic human needs. Our Commitment to Communities Of course, a key part of our commitment to improving our communities involves helping make education possible. It s why we re proud to support many on-campus school events and participate in many early awareness endeavors. CFG is very supportive of the needs and demands of the financial aid office. Every day, Citizens Financial Group helps us to help our students, and parents with its vast arsenal of superb products and services. Our Commitment to Education -Martin Miles, Director of Financial Aid Hampton University in Hampton, VA

4 Our Commitment to Education Early awareness is the future. We regularly support our school communities through -- Participation in high school financial aid nights, college fairs, open houses, new student receptions, and other events hosted by our school clients to discuss the importance of saving for college and to offer financing advice. An annual mailing sent each fall to nearly 5,000 high school guidance offices that promotes the online planning tools and search engines we offer. To further support our early awareness efforts and exemplify our commitment to the community, we are an active sponsor of the following: Countdown to College Calendar Available on our website, this valuable tool allows parents and students to start planning for college starting in middle school. NextSTEP Magazine an acclaimed magazine and interactive website that helps high school juniors and seniors explore potential careers, research collegiate options, and make educated decisions about their future. College Goal Sunday a free program that helps families complete the Free Application for Federal Student Aid (FAFSA), the form required to apply for federal financial assistance for higher education opportunities. Our Education Finance Account Executives regularly participate in this annual event, now held in several states. Growing stronger for our communities. Citizens Financial Group has over 25 years experience in the student loan industry, and we believe making education possible is a vital part of our commitment to the community. In the last decade we ve experienced significant growth; and in 2006 we surpassed the $2 billion mark in loan originations (FFELP and alternative loans combined). Delivering the highest level of service and expertise. At Charter One, we pride ourselves on delivering a higher level of service. Our valued employees are the key to it all. When you choose us, you ll have access to a dedicated Account Executive. Our Account Executives have an average of 11 years of experience in Financial Aid. They have worked in offices as Directors and Associate Directors, for servicers and guarantors. This experience in all facets of the financial aid industry allows them to use their knowledge to help school clients meet the needs of their students and solve problems in their office. You ll also receive support from a dedicated team, including Internal Sales, Customer Service, and Marketing. All our professionals have several years of experience in Financial Aid and are dedicated solely to the needs of our school clients. Our Proven Track Record We found that CFG offers a variety of products for different constituencies, is easily recognized by borrowers as a quality lender, and is willing to take the extra steps to provide personalized service to the College and our families. CFG has provided exceptional service to our institution. Their dedication, thoughtfulness and personal attention to both the students and the staff at our college have exceeded my expectations. Our People and Our Partners -Penelope King, Associate Director of Financial Aid Merrimack College in North Andover, MA -Kristina Wilhelm-Nelson, Associate Director of Financial Aid, Chestnut Hill College in Philadelphia, PA

5 Our People and Our Partners Building powerful relationships to better serve you. Together with our industry partners, Charter One provides a streamlined origination and servicing process. We offer choice and high quality customer service that is regularly monitored to ensure immediate response to our clients needs. When you partner with us, you have a choice of guarantor and loan processor, a key factor in making your job easier. It s why we ve partnered with several guarantors and are a full member of ELM Resources, allowing us to disburse funds through National Disbursement Network (NDN). For a complete list of partners please visit our web site at charterone.com/edu. Doing our part to support the industry. Michael McFarlane, Director of Education Finance, is Vice Chair of the ELM Resources Board of Directors and Chair of the Consumer Bankers Association (CBA) Education Loan Funding Committee. Led by Michael s involvement in the student loan industry, our team s responsibility doesn t end with school visits. Account Executives are very active within state and regional financial aid organizations as well. Our job is to make yours easier. Education Finance Services We understand that every school has different needs, and a large part of our success stems from listening to our clients and providing personalized service. Below are some of the not-so-typical ways we regularly assist our school clients and their students. Feel free to contact us for more information about these services, as well as to offer any other suggestions that you feel would help your particular Financial Aid Office. For Colleges and Universities Custom Communication The Education Finance Marketing Team is available to analyze the flow of communication, both printed and online, between your Financial Aid Office and your students and their families. Jump Pages The Education Finance Marketing Team is available to evaluate the flow of communication by providing creative input and coordinating customized jump pages for your school s website. Presentations The Education Finance Team is available to present on debt management, credit counseling, loan processing and servicing, loan consolidation, financing options, time management, customer service, effective meeting planning, and networking. Our Ongoing Support Improving our products and services To help us provide the best products and services to you, your students, and their family members, we regularly solicit feedback from a diverse population of schools. This includes undergraduate and graduate institutions, community colleges, and state and private schools. This allows us to receive valuable input from you and your students so we can better service your office. Your feedback is vital to helping us meet your needs and the needs of your students today and in the future. Debt Management/Financial Literacy - Charter One is sensitive to the debt burden of student borrowers and the concern over school cohort default rates. Our Education Finance team can customize a debt management program to your institution s needs to include Give Yourself Credit SM materials, professional student presentations, and on-site entrance/exit counseling. Education Finance News As an educational tool for our school clients, we publish a quarterly newsletter to disseminate important industry information and helpful testimonials. Order Materials Today! We provide product-specific materials, debt management materials, and customer overview materials. For a complete list of materials or to place an order, call us at , or us at educationfinance@charterone.com. Our Solutions

6 Our Solutions Offering a full line of solutions to make education possible. At Charter One, we understand that every student has unique needs when it comes to education financing. We offer both federal and alternative loan options and guarantee all loans remain with the same loan servicer for the life of the loan. If we sell our loans, this does not affect any borrower benefits the student is eligible to receive or has received. Charter One remains a resource to borrowers, even after loans have been sold. Federal Loan Options We re pleased to offer a variety of low-cost federal loans to help your students and families reach their educational goals, including: Charter One Affordable Stafford Loan No origination fee No Default (Guarantee) Fee Rewards for making consecutive, on-time payments Charter One Affordable PLUS Loan (for Parents and Graduate Students) Zero Default (Guarantee) Fee 1.00% rate deduction at first disbursement 0.25% rate deduction for automatic payment deduction Borrowers may postpone payments for up to 60 months during the life of the loan. 1 Additional Benefits for Graduate Students Only: No payments while in school at least half-time Charter One Affordable Consolidation Loan 1.00% interest rate reduction after 36 consecutive, on-time payments 0.25% interest rate reduction for automatic payment deduction Call us at for more information Students at Dominican University choose CFG student loan products because of their overall quality and affordability. Also, many students and their parents bank with CFG, and they have a comfort level with them being part of the communities in which they Alternative Loan Options With the increasing cost of education and decreasing government aid, it is sometimes necessary to rely on sources other than the Federal Stafford and Federal PLUS Loan programs. To bridge the education-financing gap, Charter One offers other options: Signature Student Loan 2 - In conjunction with Sallie Mae, we offer this low-cost loan featuring competitive interest rates, minimal fees, and money-saving borrower benefits. With a qualified co-signer, students can borrow up to the total cost of education less any other financial aid received. Signature Student Loan is available to all private and public colleges and universities including community colleges 0.50% interest rate reduction for automatic payment deduction Co-signer release option after 24 consecutive, on-time payments Less than half-time students may be eligible (contact Charter One for more information) Charter One Alternative Loan Programs - We also offer the following loan programs: Charter One Independent School Loan for elementary and secondary education Charter One Undergraduate Loan for traditional, undergraduate students Charter One Graduate Loan for graduate and professional students Charter One Continuing Education Loan for less than half-time and non-matriculated students Charter One MedAdvantage Loan for Health Profession students All Products Offer the Following Benefits: 0.25% interest rate reduction for automatic payment deduction Co-signer release option after 48 consecutive, on-time payments (does not include Continuing Education Loan) Applicants can be pre-approved by calling Home Equity - Charter One offers a variety of home equity line and loan programs that many parents find convenient to cover tuition costs. To help parents and students evaluate how home equity compares to PLUS and Alternative Loans, we ve put together a helpful brochure. For a free copy of this comparison brochure, please call Equal Housing Lender. Loan Options Other Services Our Partners live and work. -Michael Shields, Director of Financial Aid, Dominican University in River Forest, IL 1 Interest does accrue during periods of deferment and forbearance. Borrowers must complete a post-disbursement forbearance form annually to postpone payments. 2 The Signature Student Loan may not be available in all states.

7 Other Services At Charter One we work hard to develop lasting relationships with all of our customers, from individuals to institutions. We partner with our customers and are committed to helping them grow and succeed. Institutional Services We realize that educational institutions are faced with unique financial needs. Our team of specialized bankers understands not-for-profit organizations and delivers professional solutions, including: Tax-exempt bank loans Credit enhancements Deposit services Foreign exchange services Cash management products Our Investment Management Services team offers prudent asset management and shares its expertise on planned giving and endowment growth solutions. The Education Finance Team would be happy to facilitate the discussion of any initiative you see fit. Personal Banking Services You, your students, and their families can rely on us for all of your banking needs. We offer Free student checking. Competitive financial products and services that provide value and convenience to our customers, including free online banking and bill payment with every checking account. An extended banking network that includes branches and ATM locations in 13 states, and many in-store banking branches open seven days a week. We ve also been instrumental in securing on-campus ATMs at a number of schools for the convenience of the university community. I have found CFG to be very accommodating over the past few years by meeting the borrowing needs of our student population and the financial aid staff. The quality of service to our students is by far the most important item; however, you also must consider a lender that listens to the processing needs of the financial aid office. CFG has met both of these important requirements, and have met the high standards we have in our financial aid office. -Erin Chiaro, Director of Financial Aid, Fairfield University in Fairfield, CT