Wells Fargo private student loans may help cover more than just tuition. They may be able to help cover the costs of books, computers, housing, or even a study abroad program. Our private student loans and resources may be able to help you find the student loan to meet your needs.
Benefits of a Wells Fargo private student loan may include:
- The option to pay later. Make no payments while in school.
- Fixed or variable rate options. Get competitive interest rates on fixed and variable loans.
- Reduce your loan cost. Lower your rates even more with interest rate discounts.
Wells Fargo offers a variety of private student loan options for undergraduate, graduate school, and career-training programs. Before you start an application, please provide the information requested below to learn more about the availability of Wells Fargo private student loan options. Based on the results, you may choose to complete an application online or by phone. When it comes to financing your education, be sure to look at all of your options -- including grants, scholarships and loans from all sources -- and make careful comparisons among all your choices
1.Wells Fargo private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable, self-certification form, school certification of loan amount, and student's enrollment at a Wells Fargo-participating school.
2.
Repayment begins six months after you graduate or leave school. Maximum in–school periods apply. Repayment begins immediately after funds are disbursed for the Wells Fargo Student Loan for Parents and the Wells Fargo Private ConsolidationSM loan. Interest continues to accrue during any in–school deferment periods and is capitalized and added to the account when entering repayment.
3.
Discount eligible during repayment: Interest rate discount is effective once you qualify for the discount — your monthly payment amount is adjusted at a later time. Application and repayment discounts may be combined.
Discounts eligible at time of application: You may qualify for an interest rate discount if you or your cosigner has any of the following Wells Fargo products prior to your Final Loan Disclosure being issued:
- A Wells Fargo PMA® Package — 0.50% discount
- A qualifying Wells Fargo consumer checking account — 0.25% discount
- A prior federal or private student loan made by Wells Fargo — 0.25% discount [prior Wachovia federal student loans are not eligible]
Discount eligible during repayment: Interest rate discount is effective once you qualify for the discount — your monthly payment amount is adjusted at a later time. Application and repayment discounts may be combined.
- Automatically withdrawn payment discount (“ACH”) — 0.25% interest rate reduction to borrowers who have their payments automatically withdrawn from a personal checking or savings account. This discount does not apply to automatic bill payments set up solely by you. If the automatic payment is canceled at any time after repayment begins, the discount will be lost until automatic payment is reinstated. The 0.25% interest rate reduction is effective the day after the first payment is made using automatic withdrawal during the repayment period. Discount does not apply during any deferment or forbearance period.
Learn about the process of repaying your private student loan, including what to do in cases of hardship or emergency.
With most Wells Fargo private student education loans, you start making payments six months after you graduate or leave school, although for some loans like the Wells Fargo Student Loan for Parents and the Wells Fargo Private Consolidation℠ loan, payments begin once the loan funds have been received.
Please refer to your Loan Request/Consumer Credit Agreement for information on your repayment start date. You’ll receive a letter approximately 45 days before repayment is scheduled to begin that tells you when your loan is scheduled to go into repayment and provides your repayment disclosure and terms.