Undergraduate Private Student Loans & Collegiate Loans | Wells Fargo

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Undergraduate Private Student Loans

Read before applying

Wells Fargo is exiting the student loan business – we are selling and transferring our student loans

Last day to apply is January 28, 2021 for customers with an outstanding Wells Fargo Private Student Loan balance. Learn more
A Wells Fargo Collegiate® student loan is designed for undergraduates attending traditional four-year schools to pay for college.

Cover up to the cost of education, including tuition, books, computers, or housing (minus other aid).


  • Students make no payments until six months after leaving school.
  • Students can choose to make early payments at any time during school.
  • No application, origination or late fees, and no penalty for paying off your loan early.
  • Lower your private student loan interest rates with a qualifying relationship discount.

 Cosigner Benefits 

A cosigner may help you qualify for a student loan and potentially get a lower private student loan interest rates but is not required to apply.

Find Out More

Ready to apply? Apply Now

You can also call a Student Loan Consultant at 1-800-378-5526
Online Application Process

Rates & Discounts

Competitive annual percentage rate (APR)

Variable rates range from 2.68% APR (with discount) to 9.46% APR (without discount).

Fixed rates range from 4.53% APR (with discount) to 10.72% APR (without discount).

See examples of today’s rates

About Private Student Loan Interest Rates

Should I choose a variable or fixed interest rate?

Variable interest rates can change over time, so if your interest rate goes up, your monthly payment can go up as well. Fixed interest rates are usually higher than variable rates, but the fixed rate stays the same over the life of the loan. Learn more about private student loan interest rates.

How do I know what my interest rate will be?

Your interest rate will be determined by several factors when you apply, most importantly your credit history and that of your cosigner, if applicable.

Your interest rate options will be presented during the application process, at which point you can choose between a specific variable interest rate and specific fixed interest rate.

Rate Discounts

Two great ways to lower your interest rate

  • Customer Discount: Receive a 0.50% interest rate discount with a Portfolio by Wells Fargo® relationship, a 0.25% interest rate discount with a qualified Wells Fargo consumer checking account, or a 0.25% interest rate discount for a prior or existing Wells Fargo student loan.
  • Automatic Payment Discount: Receive a 0.25% interest rate discount for enrolling in automatic payments during repayment.

Learn more about student loan discounts .


  • You must be enrolled as an undergraduate student at an eligible school, seeking a degree, certificate or license. You may qualify even if you are enrolled less than half time.
  • You must be a U.S. citizen or U.S. national, or be a permanent resident alien or an international student who is a temporary resident alien or a Deferred Action for Childhood Arrivals (DACA) individual with a current U.S. address. Permanent and temporary resident aliens must show proper evidence of eligibility. A DACA individual must show proper evidence of deferred action status.
  • You may need a cosigner, unless you meet credit, employment, and debt-to-income requirements, although a cosigner is not required to apply. For temporary resident aliens and/or DACA individuals, a U.S. citizen or U.S. national, or a permanent resident alien with proper evidence of eligibility must cosign the loan.

Limits, Fees & Payments


Borrow up to your total cost of attendance minus other aid received. The limit for this loan combined with all other education-related debt, including federal loans, is $120,000. The minimum amount you may borrow is $1,000.


There are no application, origination, or late fees, and no penalty for paying off your loan early.


No payments until 6 months after you leave school. If you decide to start paying back your loan early, you’ll pay less in interest - reducing your overall cost.

What you need to apply

When you’re ready to apply, here are a few things you’ll need:

  • School name, your major, and grade level
  • Social Security number
  • Permanent U.S. address
  • Employment and income information for the borrower and/or cosigner (if applicable)
  • Cost of attendance and estimated amount of financial assistance you expect to receive

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Create a budget

A simple budget can help you stretch your dollars. See How

Online Application Process

  • Apply from your smartphone, computer, tablet, or over the phone.
  • Consult with your dedicated Student Loan Consultant.
  • Receive email or text status updates along the way.
  • Upload any required documents online.