SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                               ------------------
                                    FORM 10-Q
                               ------------------


               QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                  FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1998


                          THE STUDENT LOAN CORPORATION
             (Exact name of registrant as specified in its charter)


           DELAWARE                                   16-1427135
 (State or other jurisdiction of        (I.R.S. Employer Identification No.)
 incorporation or organization)

       99 GARNSEY ROAD                                   14534
       PITTSFORD, NEW YORK                             (Zip Code)
                    (Address of principal executive offices)

                                 (716) 248-7187
              (Registrant's telephone number, including area code)
                               ------------------

      Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes  X    No     
                                             -----    -----

      On May 8, 1998, there were 20,000,000 shares of The Student Loan
Corporation's Common Stock outstanding.


<PAGE>

                          PART I. FINANCIAL INFORMATION

Item 1. Financial Statements.

                          THE STUDENT LOAN CORPORATION
                              STATEMENTS OF INCOME
                (Dollars in thousands, except per share amounts)

                                                            Three months ended
                                                                 March 31,
                                                            -------------------
                                                              1998       1997
                                                            --------   --------
REVENUE
  Interest income                                           $156,835   $142,779
  Interest expense                                           111,451     98,050
                                                            --------   --------
  Net interest income                                         45,384     44,729
  Provision for loan losses                                      788        705
                                                            --------   --------
  Net interest income after provision for loan losses         44,596     44,024
  Fee and other income                                           362         22
                                                            --------   --------
    Total revenue, net                                      $ 44,958   $ 44,046
                                                            --------   --------

OPERATING EXPENSES
  Salaries and employee benefits                            $  8,930   $  7,562
  Other expenses                                               7,819      8,559
                                                            --------   --------
    Total operating expenses                                $ 16,749   $ 16,121
                                                            --------   --------

  Income before income taxes                                $ 28,209   $ 27,925
  Income taxes                                                11,403     11,110
                                                            --------   --------

NET INCOME                                                  $ 16,806   $ 16,815
                                                            ========   ========

NET INCOME - Core (excluding floor income)                  $ 16,692   $ 16,496
                                                            ========   ========

NET INCOME - Floor                                          $    114   $    319
                                                            ========   ========

DIVIDENDS DECLARED                                          $  3,000   $  2,400
                                                            ========   ========

BASIC AND DILUTED EARNINGS PER COMMON SHARE
  (based on 20 million average shares outstanding)

Net income - Core                                           $   0.83   $   0.82
Net income - Floor                                          $   0.01   $   0.02
                                                            --------   --------

Net income                                                  $   0.84   $   0.84
                                                            ========   ========

DIVIDENDS DECLARED PER COMMON SHARE                         $   0.15   $   0.12
                                                            ========   ========

OPERATING RATIOS

Net interest margin                                             2.33%      2.54%
Net interest margin - Core                                      2.32%      2.51%
Operating expenses as a percentage of
  average insured student loans                                 0.86%      0.92%

See accompanying notes to financial statements.


                                       2
<PAGE>

                          THE STUDENT LOAN CORPORATION
                                 BALANCE SHEETS
                             (Dollars in thousands)


                                                       March 31,    December 31,
                                                         1998           1997
                                                       ----------    ----------
ASSETS
   Insured student loans                               $7,975,540    $7,625,157
   Allowance for loan losses                                2,191         2,014
                                                       ----------    ----------
   Insured student loans, net                           7,973,349     7,623,143
   Cash                                                       263         2,108
   Deferred tax benefits                                   40,500        41,581
   Other assets                                           220,882       207,118
                                                       ----------    ----------

   Total Assets                                        $8,234,994    $7,873,950
                                                       ==========    ==========


LIABILITIES AND STOCKHOLDERS' EQUITY
   Short-term borrowings                               $5,129,974    $5,696,605
   Long-term notes                                      2,530,000     1,610,000
   Payable to principal stockholder                        16,140        17,063
   Restructuring liabilities                               17,692        17,724
   Other liabilities                                      124,260       129,436
                                                       ----------    ----------

     Total Liabilities                                  7,818,066     7,470,828
                                                       ----------    ----------

   Common stock                                               200           200
   Additional paid-in capital                             134,380       134,380
   Retained earnings                                      282,348       268,542
                                                       ----------    ----------

     Total Stockholders' Equity                           416,928       403,122
                                                       ----------    ----------

   Total Liabilities and Stockholders' Equity          $8,234,994    $7,873,950
                                                       ==========    ==========


AVERAGE INSURED STUDENT LOANS                          $7,912,095    $7,269,249
     (year-to-date)                                    ==========    ==========

See accompanying notes to financial statements.


                                       3
<PAGE>

                          THE STUDENT LOAN CORPORATION
                            STATEMENTS OF CASH FLOWS
                             (Dollars in thousands)

                                                            Three months ended
                                                                 March 31,
                                                            -------------------
                                                              1998       1997
                                                            --------   --------
Cash flows from operating activities:
Net income                                                  $ 16,806   $ 16,815
Adjustments to reconcile net income to
net cash from operating activities:
   Depreciation and amortization                               1,314      1,375
   Provision for loan losses                                     788        705
   Deferred tax provision                                      1,081      1,423
   Increase in accrued interest receivable                   (10,780)   (11,901)
   Increase in other assets                                   (2,758)    (5,724)
   Decrease in other liabilities                              (6,131)   (26,744)
                                                            --------   --------

Net cash provided by (used in) operating activities              320    (24,051)
                                                            --------   --------

Cash flows from investing activities:
   Disbursements of loans                                   (609,855)  (520,681)
   Repayment of loans                                        240,925    217,634
   Sale of loans, net of purchases                            16,622     11,022
   Capital expenditures on furniture and equipment              (226)      (961)
                                                            --------   --------

Net cash used in investing activities                       (352,534)  (292,986)
                                                            --------   --------

Cash flows from financing activities:
   Net increase (decrease) in borrowings with
      original maturities of one year or less               (566,631)   284,188
   Proceeds from long-term borrowings                        920,000     35,000
   Dividends paid to stockholders                             (3,000)    (2,400)
                                                            --------   --------

Net cash provided by financing activities                    350,369    316,788
                                                            --------   --------

Net decrease in cash                                          (1,845)      (249)
Cash - beginning of period                                     2,108        567
                                                            --------   --------

Cash - end of period                                        $    263   $    318
                                                            ========   ========

Supplemental disclosure of cash flow information:

    Cash paid during the periods for:
          Interest                                          $102,625   $112,224
          Income taxes                                      $  7,308   $      3


See accompanying notes to financial statements.


                                       4
<PAGE>

                          THE STUDENT LOAN CORPORATION

                          NOTES TO FINANCIAL STATEMENTS
                                 MARCH 31, 1998


1.      SIGNIFICANT ACCOUNTING POLICIES

        INTERIM FINANCIAL INFORMATION

        The financial information of The Student Loan Corporation (the
        "Company") as of March 31, 1998 and for the three-month periods ended
        March 31, 1998 and March 31, 1997 include all adjustments (consisting of
        normal recurring accruals) which, in the opinion of management, are
        necessary to state the Company's financial position and results of
        operations in accordance with generally accepted accounting principles.

        Certain amounts in the prior period's financial statements have been
        reclassified to conform with the current period's presentation. Such
        reclassification had no effect on the results of operations as
        previously reported.

        DEFINITIONS

        Core net income represents net income excluding floor income,
        attributable to the fixed minimum interest rates on certain loans in the
        Company's portfolio.

2.      COMMITMENTS AND CONTINGENCIES

        REGULATORY IMPACTS

        Provisions of the Higher Education Act (the "Act") adopted in 1993
        included increased costs and reduced interest payments to lenders
        participating in the Federal Family Education Loan ("FFEL") program and
        the introduction of a competitor program, the Federal Direct Student
        Loan program. The impact of these provisions on the Company's future
        originations is dependent on such factors as the ultimate success of
        direct lending and the relative size of the FFEL program in the years to
        come. The legislative changes have reduced the net interest margin of
        the guaranteed student loan portfolio from pre-1994 levels. The 1993
        provisions of the Act also change the interest rate on most new FFEL
        program disbursements made on or after July 1, 1998 to the 10-year
        Treasury Bill rate plus 1%, resetting annually, although legislation
        that would amend this provision is pending. The Administration has
        proposed maintaining the current 91-day Treasury Bill index, but
        reducing the interest rate paid by borrowers for most loans originated
        after June 30, 1998 by 0.80% from the current rate. Current
        congressional proposals call for the 0.80% interest rate reduction to be
        borne 0.30% by lenders and 0.50% by the Federal Government in the form
        of interest subsidies. Resolution of this issue may not occur for many
        months. However, if no Congressional action is taken, the 10-year plus
        1% formula will take effect for loans disbursed on or after July 1,
        1998. This rate would result in materially lower yields on new loans
        made by the Company compared to yields from loans made at the current
        rate.

        In addition, there can be no assurance that the provisions of the Higher
        Education Act will be reauthorized prior to its expiration on September
        30, 1998. In addition, provisions of the Act may be amended by Congress
        at any time prior to that date, possibly resulting in further reductions
        in FFEL program loan subsidies in the form of increased risk sharing
        costs and


                                       5
<PAGE>

        reduced interest margins. Any such amendment, or the failure to
        reauthorize the Act in 1998, could have a material adverse effect on the
        Company's business and prospects.

3.       RESTRUCTURING PLAN

        In the fourth quarter of 1997, the Company announced a restructuring
        plan which will realign its business and processing structure, involving
        the outsourcing of a significant part of its operations to subsidiaries
        of Citicorp over the next nine to twelve months, allowing the Company to
        take advantage of the larger economies of scale and more global
        operating systems configurations being employed by Citibank. The Company
        expects the restructuring to substantially impact all of its
        approximately 800 Pittsford-based employees over the next 9-12 months.

        In connection with this plan, the Company incurred a $20.5 million
        pre-tax charge in 1997, including $16.2 million in severance benefits,
        $2.8 million in furniture and equipment write-downs and $1.5 million in
        other costs. Additional costs, which did not qualify for recognition in
        the initial $20.5 million charge, will be expensed as incurred in the
        implementation of the restructuring plan over the next 12 months. These
        costs are not expected to be material.

        A reserve in the amount of $17.7 million was recorded as of December 31,
        1997, which represented the liability for future cash outflows
        associated with the charge, less the $2.8 million furniture and
        equipment write-downs. Effectively no amounts of the $17.7 million
        reserve were expended and no staff reductions occurred during the first
        quarter of 1998. The restructuring program is expected to be
        substantially complete within the next twelve months.

4.      RELATED PARTY TRANSACTIONS

        Citibank (New York State) ("CNYS"), a subsidiary of Citicorp, owns 80%
        of the outstanding common stock of the Company. A number of significant
        transactions are carried out between the Company on the one hand and
        Citicorp and its affiliates on the other hand. At March 31, 1998, the
        Company had outstanding short-term borrowings of $5.1 billion and
        long-term borrowings of $2.5 billion with CNYS, compared to short-term
        and long-term borrowings of $5.7 billion and $1.6 billion, respectively,
        with CNYS at December 31, 1997. The amounts classified as short-term
        debt as of March 31, 1998 and December 31, 1997 included $1.4 billion of
        debt originally issued as long-term that, as of these dates, matures
        within 12 months. For the three-month period ended March 31, 1998, the
        Company incurred $111.5 million in interest expense payable to CNYS and
        its affiliates, compared to $83.9 million in interest expenses payable
        to CNYS and its affiliates for the same period in 1997. In addition,
        Citicorp and its subsidiaries engage in other transactions and servicing
        activities, including cash management, data processing, income tax
        payments, employee benefits and facilities management, with the Company.
        Management believes that the terms of these transactions are, in the
        aggregate, no less favorable to the Company than those which could be
        obtained from unaffiliated parties.

        On April 5, 1998, Citicorp, the parent corporation of CNYS, agreed to
        merge with Travelers Group Inc., subject to customary closing conditions
        including approvals of stockholders and regulators. Compliance with the
        merger agreement and regulatory and legal requirements applicable to the
        merger are not expected to have any material effect on the Company.

5.      INTEREST RATE SWAP AGREEMENTS

        The Company, from time to time, enters into interest rate swap
        agreements with related and third parties solely to hedge interest rate
        exposure on certain interest bearing liabilities. The swap agreements
        are intended to reduce the risk caused by differences between borrowing
        and lending rates. Entering into swap agreements to pay interest based
        on the interest rate characteristics of the Company's assets and to
        receive interest based on the characteristics of the Company's


                                       6
<PAGE>

        liabilities effectively limits the risk of the potential interest rate
        variability. The counterparty for all interest rate swap agreements
        outstanding at March 31, 1998 was either CNYS, the majority stockholder,
        or one of its affiliates.

        Interest rate swap agreements with a carrying value of $0.3 million,
        representing accrued interest payable, were determined to have an
        estimated fair value of $0.4 million payable at March 31, 1998. At
        December 31, 1997, interest rate swap agreements with a carrying value
        of $0.4 million of interest payable had an estimated fair value of $0.6
        million payable. The fair values were based on approximate values
        obtained from Citibank, N.A., an affiliate of CNYS and the Company's
        dealer in these financial instruments, and represent the estimated
        amounts which would be payable upon termination of the agreements. Fair
        values vary from period to period based on changes in such factors as
        LIBOR and Treasury Bill interest rates and the timing of contractual
        settlements. The aggregate notional principal amounts outstanding at
        March 31, 1998 and December 31, 1997 totaled $2.8 billion and $2.2
        billion, respectively.

6.      SHORT AND LONG-TERM BORROWINGS

        Effective March 1, 1998, an amendment to the existing Omnibus Credit
        Agreement with CNYS increased the maximum allowable credit limit
        available to the Company to $10 billion. In the first quarter of 1998,
        $0.9 billion in new long-term borrowings was made and $0.6 billion of
        borrowings with original maturities of one year or less was repaid.
        Short-term borrowings at March 31, 1998 include $1.4 billion of original
        long-term borrowings that will mature within a year, which is consistent
        with the amount and presentation of long-term borrowings which had been
        reclassified to short-term as of December 31, 1997.

7.       IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS

        Effective January 1, 1998 the Company adopted the remaining provisions
        of Statement of Financial Accounting Standards (SFAS) No. 125,
        "Accounting for Transfers and Servicing of Financial Assets and
        Extinguishments of Liabilities." Adoption of the standard had no effect
        on the Company's financial statements or financial condition.

        Also, effective January 1, 1998 the Company adopted the provisions of
        SFAS No. 130, "Reporting Comprehensive Income," which addresses the
        manner in which certain adjustments to stockholders' equity are
        displayed in the financial statements. The new standard had no effect on
        the Company's financial statements.

        Also, during the first quarter of 1998, the Company reviewed the
        requirements of SFAS No. 131, "Disclosures about Segments of an
        Enterprise and Related Information," which will be adopted by the
        Company during 1998, but is not required to be applied to interim
        periods in the initial year of its application. The new standard is not
        expected to require any significant changes in the Company's reporting.


                                       7
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS.

RESTRUCTURING PLAN

In the fourth quarter of 1997, the Company announced a restructuring plan which
will realign its business and processing structure, involving the outsourcing of
a significant part of its operations to subsidiaries of Citicorp over the next
nine to twelve months, allowing the Company to take advantage of the larger
economies of scale and more global operating systems configurations being
employed by Citibank. The Company expects the restructuring to substantially
impact all of its approximately 800 Pittsford-based employees over the next 9-12
months.

In connection with this plan, the Company incurred a $20.5 million pre-tax
charge in 1997, including $16.2 million in severance benefits, $2.8 million in
furniture and equipment write-downs and $1.5 million in other costs. Additional
costs, which did not qualify for recognition in the initial $20.5 million
charge, will be expensed as incurred in the implementation of the restructuring
plan over the next 12 months. These costs are not expected to be material.

A reserve in the amount of $17.7 million was recorded as of December 31, 1997,
which represented the liability for future cash outflows associated with the
charge, less the $2.8 million furniture and equipment write-downs. Effectively
no amounts of the $17.7 million reserve were expended and no staff reductions
occurred during the first quarter of 1998. The restructuring program is expected
to be substantially complete within the next twelve months.

FINANCIAL CONDITION

During the three months ended March 31, 1998, the net insured student loan
portfolio of The Student Loan Corporation (the "Company") grew by $350.2 million
(5%) from the balance at December 31, 1997. This growth was the result of loan
disbursements totaling $609.9 million in the first three months of 1998,
partially offset by $240.9 million in loan reductions (attributable to
repayments and claims paid by guarantors), loan sales net of loan purchases of
$16.6 million and other adjustments of $2.2 million. This compares to loan
disbursements of $520.7 million, loan reductions of $217.6 million, loan sales
net of loan purchases of $11.0 million, and other adjustments of $1.7 million in
the first three months of 1997.

The Company's new loan disbursements of $609.9 million made in the first three
months of 1998 were $89.2 million (17%) more than those made in the same period
of 1997. This increase is attributable primarily to new Federal Family Education
Loan ("FFEL") program disbursements of $547.1 million in the first three months
of 1998 compared to $484.5 million during the same period of 1997. This increase
of $62.6 million (13%) in FFEL program disbursements does not include
originations made under the Federal Loan Consolidation program, which, due to a
change in Federal regulations in the fourth quarter of 1997, now permits the
Company to consolidate Federal Direct Student Loans. The Company launched an
initiative to provide this expanded consolidation loan product in late 1997. As
a result, consolidation loan originations overall for the first quarter of 1998
have increased $27 million (74%) compared to the same period of 1997.

The increase in loan disbursements occurred despite competition from the Federal
Direct Student Loan ("FDSL") program also maintained by the Department of
Education. Although the proportion of FDSL program disbursements to total
Federally insured student loans nationally has remained consistent for the last
few years, an increase in FDSL program lending could lead to


                                       8
<PAGE>

declines in the Company's FFEL program disbursements, which could adversely
affect the Company's future net income.

During the first three months of 1998, the Company made $102.6 million in
interest payments, principally to CNYS or one of its affiliates, compared to
$112.2 million paid in the same period in 1997. The difference is due to changes
in both the size of the borrowings and interest rates, as well as timing of
interest payments. The Company paid $7,308 thousand in income taxes during the
first three months of 1998, compared to $3 thousand for the same period last
year. The difference in the amount of taxes paid is primarily due to a timing
difference in making intercompany tax payments, and does not reflect any
significant changes in applicable income tax rates.

Other assets increased $13.8 million (7%) from the December 31, 1997 level,
principally as a result of additional interest receivable attributable to the
growth in the student loan portfolio and timing of interest receipts.

Effective March 1, 1998, an amendment to the existing Omnibus Credit Agreement
with CNYS increased the maximum allowable credit limit available to the Company
to $10 billion. In the first quarter of 1998, $0.9 billion in new long-term
borrowings was made and $0.6 billion of borrowings with original maturity of one
year or less was repaid. Short-term borrowings at March 31, 1998 include $1.4
billion of original long-term borrowings that will mature within a year, which
is consistent with the amount as of December 31, 1997.

On April 5, 1998, Citicorp, the parent corporation of CNYS, agreed to merge with
Travelers Group Inc., subject to customary closing conditions including
approvals of stockholders and regulators. Compliance with the merger agreement
and regulatory and legal requirements applicable to the merger are not expected
to have any material effect on the Company.

The Company recognizes that the arrival of the Year 2000 poses a unique
worldwide challenge to the ability of all systems to recognize the date change
from December 31, 1999 to January 1, 2000 and, like other companies, has
assessed and is repairing its computer applications and business processes to
provide for their continuing functionality. The Company is also assessing the
readiness of external entities with which it interacts. A process of inventory,
scoping and analysis, modification, testing and certification, and
implementation is underway, funded from a combination of reprioritization of
technology initiatives and incremental costs. The Company does not anticipate
that the related overall costs will be material to any single year or quarter.
The Company expects to incur approximately $2.4 million of Year 2000-related
costs in 1998, of which $0.6 million were recorded in the first quarter of 1998,
and expects to incur approximately $1.9 million in 1999.

The Company paid a quarterly dividend of $0.15 per common share on March 2,
1998. The Board of Directors has declared a regular quarterly dividend on the
Company's common stock of $0.15 per share to be paid on June 1, 1998 to
stockholders of record on May 15, 1998.

RESULTS OF OPERATIONS

Quarter Ended March 31, 1998

Net income was $16.8 million ($0.84 basic earnings per share) for the first
quarter of 1998. This was equal to net income for the first quarter of 1997. A
moderate increase in net interest income was offset by the effects of higher
operating costs and taxes and reduced floor income.


                                       9
<PAGE>

The net interest margin for the first quarter of 1998 was 2.33%, 0.21% lower
than the 2.54% margin for the first quarter of 1997. The decline in the margin
was partly attributed to the continuing wide spreads between the 91-day Treasury
Bill rate (the base rate for most of the Company's interest-earning assets) and
other short-term money market rates upon which the Company's funding is based.
If this relationship continues, net interest margin in future quarters will be
similarly affected. Additionally, the March 31, 1998 loan portfolio included a
greater proportion of loans originated after July 1, 1995, which carry lower
in-school yields than loans originated prior to that date.

First quarter 1998 net income was also affected by higher salary and employee
benefit costs related to more direct staff hired to meet the needs of the
Company's enhanced loan consolidation program and other initiatives. Operating
expenses overall for the first quarter were up $0.6 million (4%) from the same
period last year. However, operating expenses as a percentage of average insured
student loans improved 0.06% to 0.86% from the first quarter of 1997 expense
ratio of 0.92%. The decrease in the expense ratio is primarily attributable to
productivity improvements and decreased marketing expenses compared to the first
quarter of 1997, when the Company's CitiAssist product was launched.

The provision for loan losses was $0.1 million (12%) higher for the first
quarter of 1998 than that recorded for the same period last year. This increase
reflects the risk sharing loss estimates on greater potential future default
claims (as a result of growth in the portion of the portfolio that is subject to
the 2% risk sharing provisions of the Omnibus Budget Reconciliation Act of
1993).

INCOME TAXES

The Company's effective tax rate was approximately 40.4% for the first three
months of 1998, compared to 39.8% for the same period in 1997.

REGULATORY IMPACTS

Provisions of the Higher Education Act ("the Act") adopted in 1993 included
increased costs and reduced interest payments to lenders participating in the
FFEL program and the introduction of a competitor program, the FDSL program. The
impact of these provisions on the Company's future originations is dependent on
such factors as the ultimate success of direct lending and the relative size of
the FFEL program in the years to come. The legislative changes have reduced the
net interest margin of the guaranteed student loan portfolio from pre-1994
levels. The 1993 provisions of the Act also change the interest rate on most new
FFEL program disbursements made on or after July 1, 1998 to the 10-year Treasury
Bill rate plus 1%, resetting annually, although legislation that would amend
this provision is pending. The Administration has proposed maintaining the
current 91-day Treasury Bill index, but reducing the interest rate paid by
borrowers for most loans originated after June 30, 1998 by 0.80% from the
current rate. Current congressional proposals call for the 0.80% interest rate
reduction to be borne 0.30% by lenders and 0.50% by the Federal Government in
the form of interest subsidies. Resolution of this issue may not occur for many
months. However, if no Congressional action is taken, the 10-year plus 1%
formula will take effect for loans disbursed on or after July 1, 1998. This rate
would result in materially lower yields on new loans made by the Company
compared to yields from loans made at the current rate.

In addition, there can be no assurance that the provisions of the Higher
Education Act will be reauthorized prior to its expiration on September 30,
1998.


                                       10
<PAGE>

In addition, provisions of the Act may be amended by Congress at any time prior
to that date, possibly resulting in further reductions in FFEL program loan
subsidies in the form of increased risk sharing costs and reduced interest
margins. Any such amendment, or the failure to reauthorize the Act in 1998,
could have a material adverse effect on the Company's business and prospects.

Since 1994, the Company has aggressively pursued both new and existing marketing
programs, expanded its guarantor relationships and sought new ways to meet the
education finance needs of schools and students, including the implementation of
loan programs, such as the Company's CitiAssist product, that are not dependent
on Federal funding, guarantees and authorization.


                                       11
<PAGE>

PART II. OTHER INFORMATION



ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.


(a)      Exhibits

         10.8(f)Amendment to the Omnibus Credit Agreement, dated March 1, 1997
                between the Company and Citibank (New York State)

         27     Financial Data Schedule

(b)      Reports on Form 8-K:  none.


                                       12
<PAGE>

SIGNATURE


        Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

Date: May 11, 1998


                          The Student Loan Corporation


                           By /s/ Yiannis Zographakis
                              --------------------------
                                  Yiannis Zographakis
                                  Vice President and
                                  Chief Financial Officer


                                       13