Payments
No payments are required until six months after you leave school. You can also choose to make early payments at any time during school, which can help to reduce the amount of interest you pay over the life of your loan. There is no penalty for early repayment.
Fees
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 4.34% APR (with discount) to 10.30% APR (without discount).
- Fixed interest rates range from 5.94% 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 prior Wells Fargo student loan or a qualified Wells Fargo consumer checking 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.
Calculators
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