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Wells Fargo Collegiate Loan

in Private Student Loans from Wells Fargo Bank

Unaffiliated

Wells Fargo Collegiate Loan

Unaffiliated

in Private Student Loans from Wells Fargo Bank

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Highlights
Highlights
Community Rating

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Fixed APR 5.94% - 11.26%
Variable APR 5.03% - 10.92%
Loan Amount $1,000 - $250,000

Wells Fargo Collegiate Loan Review

Wells Fargo Collegiate Loan is offered by Wells Fargo Bank, a bank founded in 1852 and based in San Francisco, CA. Wells Fargo Collegiate Loan is offered in 50 states (and Washington, DC).

What rates does Wells Fargo Collegiate Loan offer for in-school private student loan?

Wells Fargo Collegiate Loan has a variable APR that ranges from 5.03% up to 10.92%.

It offers a fixed APR that ranges from 5.94% up to 11.26%.

Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.

How much can you borrow from Wells Fargo Collegiate Loan?

Available loan amounts may vary by applicant but Wells Fargo Collegiate Loan has a minimum loan amount of $1K and offers loans up to $250K.

Does Wells Fargo Collegiate Loan charge an origination fee?

No, Wells Fargo Collegiate Loan 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 Wells Fargo Collegiate Loan charge prepayment fees?

No, Wells Fargo Collegiate Loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does Wells Fargo Collegiate Loan offer?

Wells Fargo Collegiate Loan provides repayment terms ranging from 5 to 15 years.

What type of borrowers will Wells Fargo Collegiate Loan consider?

Wells Fargo Collegiate Loan considers loans applications from:

  • undergraduate students
  • graduate students
  • parents of students

What do you need to qualify for Wells Fargo Collegiate Loan?

Applicants with a credit score of at least 650 and up to 850 are eligible for Wells Fargo Collegiate Loan.

Wells Fargo Collegiate Loan does not have or does not disclose a minimum annual income eligibility requirement. Wells Fargo Collegiate Loan only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

U.S. citizens, permanent residents, and non-residents can all apply for a Wells Fargo Collegiate Loan loan.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Driver's license
  • Proof of citizenship or residence permit
  • Proof of residence
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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 Interest Grace Period for Late Payment 6
No Origination Fee  
No Prepayment Fee  
Late Fee Amount $28
Cosigner Optional  
Credit Score Range 650 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
  • Non-Resident
Verification Documents Required
  • Proof of Income
  • Proof of Residence
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Loan Term 5 - 15 years
Fixed APR 5.94% - 11.26%
Variable APR 5.03% - 10.92%
Loan Amount $1K - $250K
Up to Cost of Attendance  

Wells Fargo Collegiate Loan Community Reviews

 

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