The College Board announced on Tuesday that it had formed a partnership with the Student Loan Corporation, a subsidiary of Citibank, to provide more options for student-loan processing to colleges and universities through its College Board Education Loan Program. The Student Loan Corporation will originate and service the loans, and the College Board will act as the lender to college and universities.

The College Board has had a similar partnership with Sallie Mae for the past 15 years and will originate $400-million in loans through the Federal Family Education Loan Program this year, according to Jennifer Topiel, a spokeswoman for the College Board. The College Board will continue its partnership with Sallie Mae, but the deal will no longer be exclusive.

“Some schools don’t like to work with just one platform,” said Ms. Topiel. “Though we’ve historically worked with only Sallie Mae, we are responding to our colleges’ preference to work with more than just one loan provider.”