Wachovia Paying for College Yourself Guide

fThe big day has finally arrived. You've chosen your school and planned your classes, but how can you access and manage the money you've worked so hard to save? No matter what your funding needs may be, we can help you get your college financial life up and running.

Education Loans and Financial Aid

Financing college can be a big job. Wachovia can help. We offer great information on college admissions, budgeting and the entire financial aid process. And when you’re ready to apply for a loan, you’ll enjoy online loan applications, fast access to funds, and great ways to save during repayment.

Managing Your Savings

Start by researching your options at least three months prior to paying your initial college costs. Find out how you need to cash out or withdraw money from your college savings account. You should also consult your Financial Advisor and tax advisor to see what kinds of tax exemptions you or your parents can claim.

Introduction to Budgeting

You're going to need to create a budget, especially since your income may not be steady. Outline your one-time expenses like tuition, books, room and board, and any other fees. Then record those expenses that are recurring, such as food, entertainment, transportation, clothing, and even insurance. It's easy to overlook the everyday items, so be thorough in your preparation.

Money Management 101

Once you have an idea of your budget, you can begin to plan your money management. You need to set up a banking account system that will not only be convenient, but easy to manage. Choose a financial institution that is close to where you are living, but don't limit yourself by proximity—online financial services, such as banking and bill payment, allow you to access your accounts from anywhere you have Internet access. You need to weigh the competition on their accounts and features. Look for accounts geared toward college students.

Electives

No financial management course load would be complete without factoring in your insurance and credit needs.

Securities and Insurance Products: Not Insured by FDIC or any Federal Government Agency; May Lose Value; Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate Wachovia Securities is the trade name used by two separate, registered broker-dealers and non-bank affiliates of Wachovia Corporation providing certain retail securities brokerage services: Wachovia Securities, LLC, Member NYSE/SIPC, and Wachovia Securities Financial Network, LLC, Member FINRA /SIPC.

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.

Equal Housing logo Only deposit products are FDIC-insured.

Insurance and annuity products are offered through non-bank affiliates of Wachovia Corporation and are underwritten by unaffiliated insurance companies.

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How am I going to pay for college?