RANCHO CORDOVA, Calif. - Wachovia Education Finance today announced that it is a participant in the American Education Services (AES) Second Pass process. The Web-based AES Second Pass process will allow Wachovia to further review Parent PLUS and Graduate PLUS applicants that are initially denied.
After a parent or student applies online and receives a denial, he or she can immediately opt in to the Second Pass process. The application is then forwarded to Wachovia PLUS counselors who review each case individually. Wachovia PLUS counselors are able to consider a broader array of credit criteria and financial information to determine if a loan can be approved.
"Wachovia believes that minor instances of adverse credit shouldn't impede a student's ability to get a college education," said Roy Chernikoff, northeast regional sales manager for Wachovia Education Finance. "We do everything we can to extend our industry-leading lending solutions to all families who are trying to bridge the college financing gap. AES Second Pass is a great way to do this."
About Wachovia Education Finance
Wachovia Education Finance, the education loan division of Wachovia Corporation, is the sixth largest provider and fourth largest holder of student loans in the United States. Wachovia Education Finance does business with more than 4,000 schools in all 50 states and several U.S. territories. Education loan products and financial aid services are available online at wachovia.com/education.
About Wachovia Corporation>/b>
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, providing a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services. Wachovia has retail and commercial banking operations in 21 states with 3,400 retail banking offices from Connecticut to Florida and west to Texas and California. In addition, two core businesses operate under the Wachovia Securities brand name: retail brokerage with 768 offices in 48 states and service affiliate offices in Latin America, and corporate and investment banking serving clients in selected corporate and institutional sectors globally. Other nationwide businesses include mortgage lending in all 50 states and auto finance covering 46 states. Globally, Wachovia serves clients through more than 40 international offices. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com; and investment products and services at evergreeninvestments.com. At March 31, 2007, Wachovia had assets of $706.4 billion and market capitalization of $105.3 billion.
Posted 04/18/07 to www.NASFAA.org. Posting of information in Constituent News is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.
