1 These 2008-09 academic year benefit programs 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. Borrower is responsible for payment of applicable taxes. Interest rate benefits terminate upon loan default and/or loan transfer to the guarantor or insurer. Borrower must make all of the first 12 scheduled payments of principal and interest on time to earn 1% rebate of the original disbursed loan amount. That rebate amount is applied as a credit to the borrower's current loan balance. If any of the first 12 payments are more than 6 days late, the borrower can restore eligibility for the benefit by passing our online financial literacy tutorial and making the rest of the first 12 payments on time. Tutorial must be completed within 60 days of late payment due date. Rebate benefit can only be restored once. Auto-debit must be used for regularly scheduled payments of principal and interest to earn 0.25% rate reduction. Visit wachovia.com/studentsavings for complete details and eligibility requirements.

2 The savings are based on a requested loan amount of $10,000 for a Stafford subsidized loan with an in-school deferment period of 48 months and a 6 month grace period. The savings amount  includes  a) the reduction in principal plus the interest savings on that lower principal balance over the life of the loan, b) the interest savings associated with the 0.25% interest rate reduction for use of auto debit to make payments over the life of the loan, and c) the interest savings over the life of the loan on the subsidized fees that would have otherwise had to be borrowed by the student to receive the same net proceeds.