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AS A PARENT, WHEN SHOULD I APPLY FOR A LOAN AND WHAT TYPE IS BEST?Federal PLUS Loan for ParentsThe Federal Plus Loan (Parent Loan for Undergraduate Students) is a low-interest, federal education loan. Parents at all income levels can apply as long as your credit history merits the loan. You can borrow up to your child's total cost of the education minus other financial aid awarded. The costs include: tuition and fees, room and board, books and supplies, transportation, and other miscellaneous covered expenses. Eligibility for a PLUS Loan Eligibility for these loans is not based on household income so parents at all income levels are welcome to apply. In most cases, you will be required to pass a credit check. In some cases, the school may also require that all students submit a Free Application for Federal Student Aid (or FAFSA) before their parents apply for a PLUS Loan. Check with the school's financial aid office for more information. More Information on PLUS Loans From Wachovia Home Equity LoanA Home Equity Loan may also provide some options for you when looking to fund your education. Home Equity Loans may be a good way to borrow for education. A Home Equity Loan is an installment loan, which allows you to structure a loan to be paid off over a specific period of time with set monthly payments. Because the loan is secured by the equity in your home, the interest may be tax deductible. Wachovia Home Equity Loan Products Returning Student Funding OptionsIf you're returning to complete a degree or change careers you may have other financing options in addition to traditional student loans. Education Savings AccountsFor those with Education Savings Accounts (formerly known as Education IRAs), money can be withdrawn tax-free for qualified elementary, secondary, or higher education expenses of a Designated Beneficiary. Qualified expenses include tuition, fees, books, academic tutoring, supplies, equipment, uniforms, transportation, and room and board expenses. Be sure to consult with your tax advisor to determine the amount of the Designated Beneficiary's qualified education expenses. Wachovia Securities IRA Products
Only deposit products are FDIC-insured.
 All loans and lines of credit are subject to credit approval, acceptable collateral and available equity, and are originated by Wachovia Bank, National Association, Wachovia Mortgage, FSB, Wachovia Financial Services, Inc.,or Wachovia Bank of Delaware, National Association. Products are not available in all states and are subject to change without notice. Certain restrictions apply. Personal Finance Login
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