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Student Loan Xpress (SLX) is a member company of New York-based CIT Group Inc. SLX became a wholly owned subsidiary of CIT Group, Inc in 2005. They ceased originating loans on April 3, 2008. On May 19, 2008, CIT Group closed the San Diego office of Student Loan Xpress laying off 128 people. CIT continued to maintain IT operations in Cincinnati and their Loan Servicing center in Cleveland. CIT has since closed their student loan servicing organization and has transferred their Loans to be serviced by AES. Since May 19, 2008, SLX has become a shell corporation whose only function is to collect revenue from existing student loans for CIT Group, Inc.
SLX originated both private and federally backed FFELP loans.
Student Loan Xpress had been alleged to be involved in some scandals, such as bribes and kickbacks.
References
- SLX Shutters Doors
- 3 SD Student Loan Execs Leave in Wake of Scandal
- "NEWS SCOOP: Stock Provided to Financial Aid Officers by Student Loan Provider". New America. Retrieved 2024-04-27.
External links
- Student Lender Resolves Probe
- Financial Aid Chief at Texas University Fired
- Student Loan Xpress Founders Put on Leave
- Student Loan Officers Got Pay From CIT
- Columbia to pay 1 million in Student Loan Scandal
- Columbia Fires Director of Student Aid
- Loan Express: Fast and Reliable Loans for Your Financial Needs