Estimated Repayment Examples¹ and APR Disclosures

¹ The repayment examples above are based on a Prime Rate equal to 5.00% and zero fees. Finance charges and APR examples assume the borrower receives our 0.50% interest rate reduction for making auto debit loan payments.

² The variable interest rate is based on the Prime Rate published in "Consumer Rates and Returns to Investor" section of The Wall Street Journal on the twenty-fifth (25th) calendar day of the month immediately preceding each monthly adjustment date, less a margin of 0.50% for qualifying borrowers. For example, the Variable Rate for the month beginning January 1st will be determined by the applicable Prime Rate published on the preceding December 25th. If The Wall Street Journal is not published or the Prime Rate is not stated, then the Prime Rate will be the applicable Prime Rate next published thereafter. If the Prime Rate is no longer available, we will choose a comparable index. The interest rate is reduced an additional 0.50% when loan payments are made using auto debit. With this rate reduction, qualified borrowers receive prime minus 1%.

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 interest rate 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 monthly 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 July 1, 2008.

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

Equal Credit Opportunity Lender