Wachovia When do I have to start making payments?

When you choose the Zero-Fee Wachovia Education Loan^SM, we make repayment a snap.

No Payments During School

No payments are required while you're attending school at least half-time. And, we give you a six-month grace period after graduating or leaving school to get established before your first payment is due.

Keep in mind that while payments are not required during this period, payments are always accepted without penalty, allowing you to decrease the total interest paid on your loan.

If you choose not to make payments while in school, remember that interest will accrue on your loan and be capitalized (added to the principal loan amount) prior to your first payment being due.

You will have up to 25 years to repay your loan, depending on the total amount borrowed. And once you begin repayment, we can help you develop a personalized repayment strategy that takes into consideration your unique needs and situation.

Simply give us a call, and let us help you arrange affordable monthly payments that fit your budget and goals.

Are you having difficulty making payments? We can help.

If you're having trouble making payments, we may be able to help by decreasing or deferring loan payments for a period of time.

This payment relief gives you peace of mind knowing that you won't be putting your good credit at risk due to a temporary financial hardship.

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¹ The repayment examples above are based on a Prime Rate equal to 7.50% and zero origination fees. Finance charges assume the borrower receives our 0.50% interest rate reduction for using auto debit (ACH) during repayment. All examples assume a single $10,000 disbursement with a 54-month deferment (48 months in school plus a six-month grace period).

² First example assumes that the principal due at the beginning of repayment is $13,150. Second example assumes principal due at the beginning of repayment is $13,600. Third example assumes that principal due at the beginning of repayment is $14,050.

³ This benefit program may be modified or discontinued at any time without notice. Program changes will not affect loans that qualify for the benefit prior to the time of the change. Earned benefits terminate if you do not stay in the auto debit plan or upon loan default and/or loan transfer to the guarantor or insurer.

⁴ Monthly payments are calculated as of the day the Repayment Period begins and are recalculated once every 12 months thereafter, whenever the applicable Variable Rate changes and causes the monthly payment not to cover full accrued monthly interest, after any subsequent deferment or forbearance period, or whenever the servicer changes the payment due date at the borrower's request.

⁵ Finance charge is the interest paid over the life of the loan. The first payment under the Immediate Repayment option includes one month's interest, plus origination fee if applicable.

⁶ APR is the Annual Percentage Rate and is subject to quarterly adjustment. The APR is the effective interest rate when all interest charges are included, and takes into account the rate, the length of the loan, the timing of payments, and any applicable fees (no origination fee for creditworthy borrowers). The stated APRs are current as of January 1, 2008.

Private education loans originated by Wachovia Bank of Delaware, N.A.

Equal Credit Opportunity Lender

When do I have to start making payments?

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