Wells Fargo Student Loans in 2013

If you are looking for a reliable, reputable source of money for college then Wells Fargo student loans is a good option. Wells Fargo is one of the oldest lenders in America. It first earned its reputation in 1852 when it began handling money for those who were profiting from the Gold Rush. That is why the logo of the name, Wells Fargo, features a six-horse stagecoach loaded with gold.

The Wells Fargo loans to students are private loans

There are three main kinds including Undergraduate Student Loans, Graduate Loans and Consolidation Loans. The company specializes in offering competitive discount rates on bank loan interest. This is a reward to students for being a Wells Fargo customer. The discount on wells fargo student loans is up to .75% on interest rates. In 2013 the lowest rate offered on borrowed money for college was 2.69% APR.

The undergraduate student loans offered at wells fargo are flexible private loans that do not require any payments until after you have graduated. These loans are meant to cover tuition or other eligible education expenses.

The Wells Fargo student loans for graduates also include MBA and Health Degree student programs. This type of money for college does not require a cosigner. Like the undergraduate loans the graduate loans do not require payments while the student is still in school.

Another very valuable benefit of doing business with Wells Fargo is that they offer students private consolidation loans. This is to allow you to roll all of your existing private student loans in one single loan. If you are handling multiple payments you really do run the risk of missing one and this can affect your credit rating. The benefit of handling the payback of your money for college in this manner is that it can potentially reduce your monthly payment and also help you to pay the entire debt load off faster. This frees you up to start saving money for a house and doing all the other things that people like to do once they graduate from college.

The motto of Wells Fargo is “focus on your studies and not your bills.” The Wells Fargo student loans found on their website also has a great deal of information in general about how to apply for loans and tips on how to lower your interest rates. If you are applying for a student loan Wells Fargo strongly suggests getting a cosigner as this too could help lower your interest rates. Having a cosigner for your student loan could help lower the interest rate on it as much as 1%.

But be careful. If a parent co-signs the student loan, then they are also on the hook (liable) for the repayment of the loan. A report from the 2013 edition of Peterson’s Guide to Scholarships, Grants, and Prizes indicates that ‘Americans age 60 or older collectively own more than $ 36 billion in student loan debt. (Senior citizen debt includes co-signing student loan debt as well as incurring their own debt while going to school later in life.) Many loans have an ‘opt out’ clause that allows parents to remove their name from the loan once their student has graduated.

Wells Fargo loans to students is more than just a source of funding

It is also a package deal that offers the student a place to log in live on the site and then manage all of the information and payments to do with these Wells Fargo student loans online. This is a great way to keep your loans organized and never miss a loan payment again.

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