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Private Student Loan for Undergraduates

A Wells Fargo Collegiate® student loan is designed to help undergraduate students attending traditional four-year schools pay for college.

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

Benefits :

  • Students make no payments until six months after leaving school.
  • Pay no application, origination, or early repayment fees.
  • Select a competitive fixed or variable interest rate option.
  • Reduce your loan cost by qualifying for our interest rate discounts.

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

 Ready to get started? 

See a checklist of what you'll need to apply.
Ready to apply? Apply Now

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


No payments are required until six months after you leave school.


There is no application or origination fee, and no penalty for paying off your loan early.

Competitive Annual Percentage Rate (APR)

  • Variable interest rates range from 4.10% APR (with discount) to 9.67% APR (without discount). 
  • Fixed interest rates range from 6.17% APR (with discount) to 11.26% APR (without discount).

See examples of today’s rates

Two great ways to lower your interest rate

  • Customer Discount. 0.25% interest rate reduction for a previous Wells Fargo student loan or other qualifying account.
  • Automatic Payment Discount. 0.25% interest rate reduction for enrolling in automatic payments.

Discounts reduce the amount of interest you pay over the life of the loan. The automatic payment discount may not change your monthly payment amount depending on the type of loan you receive, but may reduce the number of payments or reduce the amount of your final payment.

Learn more about how to take advantage of these student loan discounts.

Borrow only what you need

We help you borrow only what you need by working with your school to:

  • Verify the amount you need and your enrollment.
  • Accept funds on your behalf.
  • Distribute any remaining funds to you, after the school receives your funds.

The lifetime limit for this loan combined with all other education-related debt, including federal loans, is $120,000.


Estimate how much you may need to borrow for college:
Student Loan Calculator

Determine how much student loan debt you can manage based on your potential earning power:
Student Loan Debt Repayment Calculator

If you're a student with little or no credit history or limited income, a cosigner may help you to qualify for this loan and potentially receive a lower interest rate.

A cosigner is someone who shares responsibility with the student borrower for repaying the loan. The cosigner doesn't have to be a relative; he or she can be any adult who meets the eligibility requirements.


Will I need a cosigner?

Most borrowers will need a cosigner for this loan to meet credit, employment, and debt-to-income requirements. Rates are typically higher without a cosigner; however, borrowers that meet these requirements on their own do not need a cosigner (but may still choose to apply with a cosigner).

Who should I ask to be a private student loan cosigner?

Any adult who meets the credit and citizenship requirements can be a cosigner for a private student loan.

The cosigner doesn’t have to be a relative; he or she can be anyone who meets the requirements — ideally someone with an established credit history and steady income.

What are the cosigner's responsibilities?

The student borrower and any cosigner share responsibility for ensuring that the loan is repaid.

In the event of the death or total and permanent disability of the student borrower, the loan can be forgiven and the student borrower and any cosigner won’t be responsible for repayment.

Under what circumstances may cosigners be released from their loan responsibility?

A cosigner may be released from the loan if the student borrower is a U.S. citizen and contacts Wells Fargo to request release of the cosigner. Wells Fargo will evaluate credit and income factors to determine the student borrower’s ability to take full responsibility for repaying the loan. At the time the borrower submits a request to release the cosigner, all the following requirements must be met:

  1. The most recent 24 consecutive monthly payments were made on time including the first required payment or, if the first required payment was not made on time, the most recent 48 consecutive monthly payments were made on time (a payment is "on time" when it is made within the payment grace period applicable to the loan);
  2. No forbearances or modifications were granted for hardship reasons during the applicable consecutive monthly payment periods; and 
  3. The student borrower meets a full credit and income evaluation.

Please note that the student borrower must submit a signed cosigner release application. To learn more about Wells Fargo cosigner release benefit eligibility or if the borrower is interested in applying for a cosigner release, please contact our office at 1-800-658-3567.

Who is responsible for paying the loan?

The borrower and the cosigner share responsibility for ensuring that the loan is repaid. 

If financial hardship makes it difficult to remain current on the loan payments, we encourage you to talk to us to see what options are available.

In the event of the death or total and permanent disability of the student borrower, the loan can be forgiven and the student borrower and any cosigner won't be responsible for repayment.

How does my cosigner apply?

  1. Be prepared to apply with your cosigner online or over the phone.
  2. Make sure that you and your cosigner have the required documents.
  3. You and your cosigner will be given instructions as to how to complete the application.

Should I choose a variable or fixed interest rate?

Variable interest rates are based on market conditions, so if market rates go up, so do your interest rate and monthly payments. Fixed interest rates stay the same over the life of the loan.

Learn more about student loan interest rates.

How do interest rates impact monthly payments?

In the examples below, you can see a $10,000 loan, assuming:

  • You are in school for 48 months (four years).
  • First required payment will be due six months after you graduate or leave school.
  • You pay back the amount borrowed plus interest in 15 years.

Monthly payment could be:

  • $82.74 if variable APR is 3.40%
  • $118.07 if fixed APR is 6.62%
  • $155.67 if variable APR is 9.24%
The monthly payment amount will be at least $50 during your repayment period. The monthly payment amount may be more depending on your loan amount and other factors.

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.

To be eligible:    

  • You must be enrolled as an undergraduate student at an eligible school, and seeking a degree, certificate, or license.
  • You may qualify for this loan even if you are enrolled less than half time.
  • You must be a U.S. citizen, U.S. national, permanent resident alien without conditions, or international student who is a temporary resident alien with a current U.S. address and proper evidence of eligibility.
  • You may need a cosigner, unless you meet credit, employment, and debt-to-income requirements.  For permanent and temporary resident aliens, a U.S. citizen must cosign the loan.

Easy Online Application Process