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 available 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?

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 are, of course, eligible for the services offered by Wells Fargo Collegiate Loan. Permanent resident / green card holders are also eligible to apply. 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
• Proof of citizenship or residence permit
• Proof of residence