Wells Fargo Collegiate Loan is no longer available to new customers on SuperMoney. Click here to compare and quickly find the best options for your needs.
Last Updated: 04/18/2025
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Wells Fargo Collegiate Loan
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Last Updated: 04/18/2025
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Highlights
Fixed APR
4.53% - 10.72%
Variable APR
2.68% - 9.46%
Amount Range
$1,000 - $250,000
Wells Fargo Collegiate Loan Review
Wells Fargo Collegiate Loan is no longer available to new customers on SuperMoney. Click here to compare and quickly find the best options for your needs. |
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 are available in 50 states and Washington, DC.
Wells Fargo Collegiate Loan FAQ
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 2.68% up to 9.46% .
It offers a fixed APR that ranges from 4.53% up to 10.72% .
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:
What do you need to qualify for Wells Fargo Collegiate Loan?
Applicants with a credit score of at least 650 and up to 850 may be eligible for Wells Fargo Collegiate Loan. Wells Fargo Collegiate Loan does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Wells Fargo Collegiate Loan. An uncommon feature is for lenders to offer their services to non-residents. Wells Fargo Bank is one of the few that does.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Driver's license or other government photo ID
- Proof of citizenship or residence permit
- Proof of residence
Is Wells Fargo Bank a legit company?
Wells Fargo Bank was founded in 1852, it is a well-established company that has been in business for 174 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
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What We Love About Wells Fargo Student Loans
Wells Fargo has several private student loan offerings, including undergraduate loans, graduate loans, and loans to consolidate existing student debt. These help students pay for the cost of tuition and other college-related expenses at various points in their education careers.
These options are easy to access and apply for online through the Wells Fargo website. They offer both variable and fixed-rate options to suit a wide range of individual financial needs and repayment preferences.
What Could Well’s Fargo Student Loans Do Better?
Be aware that there is a lifetime limit on the amount of money a student may borrow. This means that Wells Fargo student loans may not fit every borrower and every financial situation.
Undergraduate students attending traditional four-year schools have a lifetime limit of $120,000, which includes the Wells Fargo loan and all other education-related debt.
Students attending a two-year school or career-training program have a lifetime limit of $40,000, while those attending a four-year proprietary school have a $100,000-lifetime limit. Both include the Wells Fargo loan and all other education-related debt.
Graduate loans have a lifetime limit of $100,000, which includes the graduate loan and all other education-related debt.
Well’s Fargo Student Loans Background
Wells Fargo is one of the longest-standing financial institutions in the U.S. and was established in 1852. According to Vasquez, the bank has been a leader in the student loan marketplace since the 1960s.
Upon being offered a loan, customers are provided detailed and transparent disclosures regarding the terms and conditions of their loans at three different points during the loan process. They’re also provided a 30-day right to accept and lock in their loan offer, as well as a three-day right to cancel the loan before funds are delivered.
The Verdict
Wells Fargo is a well-known and long-standing lender in the private student loan space. Its interest rates are competitive, and the two discounts can lower them even further. Additionally, there are no prepayment, origination, or application fees.
Overall it’s a route worth exploring, especially if you are already a Wells Fargo customer and if you have a well-qualified cosigner.
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