The Wells Fargo Loan
Funding for higher education is as necessary as the studies themselves. Few students are able to get scholarships and grants that cover the full amount of their education so getting into a good loan program is important to keep thing balanced. Many private lenders handle education loans; one very well known company is Wells Fargo. The company has been around a long time and is a trusted name in student financial aid.
A Wells Fargo loan is relatively easy to get and has a simple process. It is designed with the student in mind. It is a loan that caters to first time borrowers and students who may continue their education prior to being able to pay off their outstanding debts.
Eligible Students for the Wells Fargo Loan
The eligibility requirements for the Wells Fargo Loan program are simple:
- Be enrolled at least half-time (sometime less) at an eligible school
- Be enrolled in a program that Wells Fargo supports
- Have a decent credit history (if you need a cosigner they too must have good credit)
- Be a US citizen or permanent resident (with proof)
Borrowing and Benefits
- You can borrow the total cost of your education with the exception of all other financial aid, up to $120,000
- Temporary residents can borrow up to $25,000
- There are no origination, disbursement or repayment fees
- Low interest rates
- Enroll online and receive percentage discounts for your interest rate
- Make a certain number of consecutive payments and you become eligible for further interest rate decreases
- Cosigner can be released from their part of the contract after 24 consecutive on-time payments
- Further interest rate decreases when you have payments taken directly from your bank account
- Lower interest rate when you have Wells Fargo as your personal banker
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