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| Loan Name |
Signature Loan |
Wachovia Education Loan |
| Web Site |
Sallie Mae |
Wachovia |
| Phone |
800-695-3317 |
800-338-2243 |
| Hours |
8am-8pm M-F
Eastern Standard Time |
8:30am-8pm M-F
Eastern Standard Time |
| Interest Rate |
As low as Prime + 0% (Based on credit - adjusted monthly) |
As low as Prime minus 1% with borrower benefits |
| Fees |
0% to 6% (Based on credit) |
NONE for ALL borrowers |
| Enrollment |
At least 1/2 time and pursuing a degree |
At least 1/2 time |
| Loan Amount |
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Not to exceed cost of attendance less other aid |
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No aggregate cap with a cosigner; without a cosigner $100,000 aggregate cap for undergraduates. |
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Up to the cost of education less other aid |
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| Start Date of Repayment |
6 month grace period (Interest only payments available) |
6 month grace period
(Can defer payments for up to 5 years while in school; up to 10 1/2 years for graduate students) |
| Repayment |
Up to 30 years ($50 minimum monthly payment required) |
Up to 20 years ($50 minimum monthly payment required) |
| Other Requirements |
Cosigner required for students with no credit or poor credit |
Must meet state age requirements |
| Borrower Benefits |
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No income requirement for student borrowers |
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Co-signer release option available |
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Interest Rate Reduction of 0.50% at repayment when signed up for auto-debit
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Can be used to cover past due balances up to 36 months past last date of enrollment |
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Online pre-approvals with electronic signatures in seconds |
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| Available to Foreign Students |
US Citizen or permanent resident co-borrower required |
US Citizen or permanent resident co-borrower required |
