Wells Fargo private student loans may help cover more than just tuition. These student loans may even be able to help cover the costs of books, housing, computers, or even a study abroad program or two. Wells Fargo’s private student loans and resources may be able to help all students find the student loans to meet their needs. Depending on whether you are a graduate student already in possession of your undergraduate degree, or an undergraduate student on the fast track to obtaining that degree, there are specific loan programs designed for you.
Wells Fargo Collegiate Loan is a low-cost option for undergraduate students attending traditional four-year schools. This loan program will help cover many of the necessities for any college student, such as books, tuition, and housing. Benefits of this program include not zero application/origination fees and no early re-payment fees. Also, the student is not required to make any payments on this loan until six months after being done with school. Something to keep in mind if trying to apply for a loan such as this is that a cosigner may help you get approved, and in some cases with decreased interest rates.
For graduate students, Wells Fargo’s Graduate Loan is designed for graduate students who are seeking their MBA, law, or other graduate degrees, and who want to qualify for a loan on their own behalf, without the need of a cosigner. This loan program will help cover the cost of the student’s education including tuition, fee, living expenses, books, and more. The benefits of this loan program are very similar to the benefits of the Collegiate Loan, except for that most students can qualify on his or her own without the need for a cosigner. However, keep in mind that a cosigner may still potentially help you decrease interest rates on the payments. The lifetime limit for this loan combined with all other education-related dent is $180,000 for law and business degrees, and $120,000 for all other fields of study.
Benefits of these Wells Fargo alternative loans may include but are not limited to the option to pay late, reducing the loan cost, and fixed or variable rate options. The option to pay late more specifically means that the student does not have to make any payments on their private student loan program until they are done with school. Well Fargo offers interest rate discounts for students to help lower the rates even more. This means more money in the student’s pocket for other amenities. It is important when interested in a private student loan to find the loans that offer competitive interest rates on both variable and fixed loans. Wells Fargo has kept this in mind and made sure that their interest rates are some of the lowest available.
The format of the Wells Fargo website is very organized and helpful. Because of Wells Fargo’s reputation as a successful bank, it is critical that their website be able to be easily translated by nearly all of the population. Once on the Wells Fargo Student Loan page, the application process becomes very simple and guided with the help of the website’s clear instructions.