Looking to Consolidate Through Wachovia?
Go With a Major Provider
* Important Notice: Wachovia Bank was purchased by Wells Fargo in 2008, with a transition period that allowed the brand to be absorbed by Wells Fargo into 2009. The process is complete, so Wachovia is no longer active as an independent lender. This reference is maintained as a historical record.
Wachovia does financial business in a few dozen states through regional banking branches, and other home mortgage and automotive finance offices. This diverse portfolio is characteristic of Wachovia’s expansive services. The company is one of the most visible in the U.S. and specializes in personal, small business and commercial investments and wealth management, at all levels. Within such a financial model, educational loans have found a steady client base.
Wachovia provides a slew of educational loans, from K-12 to private college, continuing education to international student, and from federal undergraduate to parent and grad federal loans. The Federal Family Education Loan Program (FFELP) is administered by participating lenders on behalf of the federal government. Crucial student loans such as the Stafford and Perkins Loans are part. The Federal Consolidation Loan is part of the FFEL program.
If consolidation seems like the next big fashionable financial trend, you are advised to consider it carefully before hopping on the bandwagon. Consolidation is subjective and personal. Its effects are long-term. Some factors to consider:
- What types of student loans do you have?
- Where are you in repayment? New grad? Halfway? One more year to pay?
- What are your interest rates?
- How many lenders do you use?
- Are any loans in default?
- Do you have increasing difficulty making monthly payments?
- Are there other more pressing financial responsibilities?
Once you have mulled over the answers to these you are in a good position to consult with a Wachovia loan officer. He or she will review your financial situation in light of loan load and offer consolidation loan guidance.
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