WHAT ARE THE RATES AND FEES?
When you choose the Zero-Fee Wachovia Education LoanSM, you can receive some of the most competitive rates available.
Low Rates and No Fees
Students who qualify for our best terms1 and take advantage of the convenience of auto-debit payments can receive an interest rate equal to the Prime Rate minus 1.00 percent.2
Plus, unlike other education loans, the Wachovia Education Loan has no hidden costs or fees.3 That means that you get 100 percent of the money you borrow.
How is your interest rate determined?
Your rate is determined, in part, by the credit history and credit score of both the applicant and co-applicant, if applicable. Applicants with the best credit will receive a rate of Prime minus 0.50 percent.
Most applicants will receive a rate of Prime + 1.00 percent or less which can be decreased in repayment by 0.50% by signing up for Wachovia's auto-debit payment plan.4
Credit challenges? We have you covered.
Our flexible credit guidelines are designed to accommodate applicants with limited or damaged credit.
Applicants with limited credit history or other credit challenges will never receive a rate higher than Prime + 5.00 percent, with most approved at Prime + 3.00 percent or less—all with zero fees.2
Although not required, Wachovia strongly recommends that students apply with a creditworthy co-borrower when possible in order to increase the probability of being approved and to obtain the best possible rate.
Ready to apply?
Use our fast online application or call us toll-free at (877) 689-0763.
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