SuperMoney 

WeFinance

in Private Student Loans

Unaffiliated Visit Site

WeFinance

Unaffiliated

in Private Student Loans

SuperMoney Net Recommendation Score +100% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

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Overview

Where does WeFinance do business?

WeFinance is a marketplace lender based in San Francisco, CA. It was founded in 2014 and offers student loans in 50 states (and Washington, DC).

What rates does WeFinance offer for in-school private student loan?

It offers a fixed APR that ranges from 0% up to 20%.

How much can you borrow from WeFinance?

Available loan amounts may vary by applicant but WeFinance has a minimum loan amount of $500.

Does WeFinance charge an origination fee?

No, WeFinance does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees..

Does WeFinance charge prepayment fees?

Yes, WeFinance charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.

What terms does WeFinance offer?

WeFinance provides repayment terms ranging from 1 to 3 years.

What type of borrowers will WeFinance consider?

WeFinance considers loans applications from:

  • undergraduate students
  • graduate students
  • parents of students

What do you need to qualify for a loan with WeFinance?

WeFinance doesn’t disclose its credit score minimum. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

WeFinance only considers borrowers who are employed

U.S. citizens, permanent residents, and non-residents can all apply for a WeFinance loan.

WEFINANCE Disclosure: "WeFinance is a platform that helps organize and operate loans between individuals. It is not a lending service or a licensed lender . . . ."
SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Contact

  • Headquarters
  •   Floor 1, 560 Brannan St.
    San Francisco, CA 94107 USA
  •   Visit Site

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee  
Late Fee After (number of days) 7
Late Fee Amount $20
Minimum Age 18
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
  • Non-Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Loan Amount Starting at $500
Loan Term (Years) 1 - 3
Fixed APR 0% - 20%

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