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Wells Fargo Student Loan – Important Information



Wells Fargo Collegiate® Loan

Wells Fargo GraduateSM Loan

Wells Fargo Bar ExamSM Loan

Wells Fargo Student Loan for Career and Community Colleges

1 Wells Fargo private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable self-certification form, school certification of loan amount, and student's enrollment at a Wells Fargo-participating school.

2 Repayment begins six months after you graduate or leave school. Maximum in-school periods apply. Repayment begins after funds are disbursed for the Wells Fargo Student Loan for Parents and the Wells Fargo Private ConsolidationSM Loan. Interest continues to accrue during any in-school deferment periods and is capitalized and added to the account when entering repayment. During your repayment period, the monthly payment amount will be at least $50. The monthly payment amount may be more, depending on your loan amount and other factors.

3 Interest rate discounts:

The Get College ReadySM promotion provides a 0.25% interest rate discount on new Wells Fargo private student loan applications received April 1, 2015 through June 30, 2015 and is effective for the life of the loan. This promotional discount may be combined with either a Wells Fargo relationship discount or a Wells Fargo Affinity relationship discount whichever is greater but not both.  Additional restrictions, limitations and exclusions may apply; please contact a Student Loan Consultant for further details. Offers may be modified or withdrawn at any time without notice and may not be transferable.  All applications are subject to approval.

Discount eligible at time of application. You may qualify for an interest rate discount if you or your cosigner has any of the following Wells Fargo products prior to your Final Loan Disclosure being issued:

  • A Wells Fargo PMA® Package — 0.50% discount
  • A qualifying Wells Fargo consumer checking account — 0.25% discount
  • A prior federal or private student loan made by Wells Fargo — 0.25% discount (prior Wachovia federal student loans are not eligible)


Only one qualifying relationship discount will apply. You will automatically receive the highest applicable discount for the life of the loan.

Discount eligible during repayment

  • Automatically withdrawn payment discount (“ACH”) — 0.25% interest rate reduction to borrowers who have their payments automatically withdrawn from a personal deposit account. This discount does not apply to automatic bill payments set up solely by you. If the automatic payment is canceled at any time after repayment begins, the discount will be lost until automatic payment is reinstated. The 0.25% interest rate reduction is effective the day after the first payment is made using automatic withdrawal during the repayment period. Discount reduces 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.  Discount does not apply during any deferment or forbearance period.   


Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.Wells Fargo reserves the right to modify or discontinue interest rate discount program(s) for future loans or to discontinue loan programs at any time without notice. For details, including eligibility requirements, visit us at wellsfargo.com/student or call 1-800-378-5526.

4 Interest rate reflected as of May 18, 2014 and subject to change. The quoted annual percentage rate (APR) includes the promotional discount of 0.25% and a customer discount of 0.25% for having a prior student loan with Wells Fargo or a qualified Wells Fargo consumer checking account.

5 The annual loan limit for temporary resident aliens is $25,000 for Wells Fargo Collegiate® Loan and Wells Fargo Student Loan for Career and Community Colleges. The annual loan limit for temporary resident aliens is $35,000 for Wells Fargo GraduateSM Loan. Temporary resident aliens not eligible for the Wells Fargo Bar ExamSM Loan.

6 Benefit applies in the event of death or total and permanent disability of student beneficiary. 

* Variable interest rates are based on an Index, plus a margin.  The APR for a variable rate loan may increase during the life of the loan if the index increases.  This may result in higher monthly payments.

Wells Fargo Student Loan for Parents

1 Wells Fargo private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable self-certification form, school certification of loan amount, and student's enrollment at a Wells Fargo-participating school.

2 Repayment begins after funds are disbursed for the Wells Fargo Student Loan for Parents and the Wells Fargo Private ConsolidationSM Loan. The interest-only payment feature of the Wells Fargo Student Loan for Parents allows you to make minimum interest payments for up to 48 months during the repayment period as long as the student beneficiary is enrolled in school at least half-time at the time of your request. Interest-only periods do not need to be consecutive. Enrollment status will be periodically verified during any continuous period of interest only payments and before any new period of interest only payments begins. After each interest-only period, full principal-and-interest payments will resume, which could possibly increase the amount of your monthly payment substantially, even if you have a fixed interest rate. Consider making more than the minimum payment during the interest only period to begin reducing the principal balance.

3 Interest rate discounts:

The Get College ReadySM promotion provides a 0.25% interest rate discount on new Wells Fargo private student loan applications received April 1, 2015 through June 30, 2015 and is effective for the life of the loan. This promotional discount may be combined with either a Wells Fargo relationship discount or a Wells Fargo Affinity relationship discount whichever is greater but not both.  Additional restrictions, limitations and exclusions may apply; please contact a Student Loan Consultant for further details. Offers may be modified or withdrawn at any time without notice and may not be transferable.  All applications are subject to approval.

Discount eligible at time of application. You may qualify for an interest rate discount if you or your cosigner has any of the following Wells Fargo products prior to your Final Loan Disclosure being issued:

  • A Wells Fargo PMA Package — 0.50% discount
  • A qualifying Wells Fargo consumer checking account — 0.25% discount
  • A prior federal or private student loan made by Wells Fargo — 0.25% discount (prior Wachovia federal student loans are not eligible)


Only one qualifying relationship discount will apply. You will automatically receive the highest applicable discount for the life of the loan.

Discount eligible during repayment.

  • Automatically withdrawn payment discount (“ACH”) — 0.25% interest rate reduction to borrowers who have their payments automatically withdrawn from a personal deposit account. This discount does not apply to automatic bill payments set up solely by you. If the automatic payment is canceled at any time after repayment begins, the discount will be lost until automatic payment is reinstated. The 0.25% interest rate reduction is effective the day after the first payment is made using automatic withdrawal during the repayment period. Discount reduces 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.  Discount does not apply during any deferment or forbearance period.  

     


Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

Wells Fargo reserves the right to modify or discontinue interest rate discount program(s) for future loans or to discontinue loan programs at any time without notice. For details, including eligibility requirements, visit us at wellsfargo.com/student or call 1-800-378-5526.

4 Interest rate reflected as of May 18, 2014 and subject to change. The quoted annual percentage rate (APR) includes the promotional discount of 0.25% and the promotional discount of 0.25% and a customer discount of 0.25% for having a prior student loan with Wells Fargo or a qualified Wells Fargo consumer checking account.

5 Benefit applies in the event of death or total and permanent disability of student beneficiary. 

* Variable interest rates are based on an Index, plus a margin.  The APR for a variable rate loan may increase during the life of the loan if the index increases.  This may result in higher monthly payments.

Apply for a Wells Fargo Student Loan for Parents


MedCAP® Loan 

MedCAP-XTRA® Loan

1 Wells Fargo private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable self-certification form, school certification of loan amount, and student's enrollment at a Wells Fargo-participating school.

2 Allopathic and osteopathic medical students have a 36-month grace period for residency completion that may be followed by up to 24 months of internship/residency forbearance, for total deferment period up to 60 months after graduation. All other students begin repayment six months after leaving school, or five to seven years after first disbursement date (depending on discipline), whichever comes first.

3 Interest rate discounts:

The Get College ReadySM promotion provides a 0.25% interest rate discount on new Wells Fargo private student loan applications received April 1, 2015 through June 30, 2015 and is effective for the life of the loan. This promotional discount may be combined with either a Wells Fargo relationship discount or a Wells Fargo Affinity relationship discount whichever is greater but not both.  Additional restrictions, limitations and exclusions may apply; please contact a Student Loan Consultant for further details. Offers may be modified or withdrawn at any time without notice and may not be transferable.  All applications are subject to approval. 

Discount eligible at time of application. You may qualify for an interest rate discount if you or your cosigner has any of the following Wells Fargo products prior to your Final Loan Disclosure being issued:

  • A Wells Fargo PMA Package — 0.50% discount
  • A qualifying Wells Fargo consumer checking account — 0.25% discount
  • A prior federal or private student loan made by Wells Fargo — 0.25% discount (prior Wachovia federal student loans are not eligible)


Only one qualifying relationship discount will apply. You will automatically receive the highest applicable discount for the life of the loan.

Discount eligible during repayment.

  • Automatically withdrawn payment discount (“ACH”) — 0.25% interest rate reduction to borrowers who have their payments automatically withdrawn from a personal deposit account. This discount does not apply to automatic bill payments set up solely by you. If the automatic payment is canceled at any time after repayment begins, the discount will be lost until automatic payment is reinstated. The 0.25% interest rate reduction is effective the day after the first payment is made using automatic withdrawal during the repayment period. Discount reduces 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.  Discount does not apply during any deferment or forbearance period.  


Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

Wells Fargo reserves the right to modify or discontinue interest rate discount program(s) for future loans or to discontinue loan programs at any time without notice. For details, including eligibility requirements, visit us at wellsfargo.com/student or call 1-800-378-5526.

4 Interest rate reflected as of May 18, 2014 and subject to change. The quoted annual percentage rate (APR) includes the promotional discount of 0.25% and a customer discount of 0.25% for having a prior student loan with Wells Fargo or a qualified Wells Fargo consumer checking account.

5 Benefit applies in the event of death or total and permanent disability of student beneficiary.

* Variable interest rates are based on an Index, plus a margin.  The APR for a variable rate loan may increase during the life of the loan if the index increases.  This may result in higher monthly payments.


Wells Fargo Private ConsolidationSM Loan

1 Wells Fargo private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable self-certification form, school certification of loan amount, and student's enrollment at a Wells Fargo-participating school.

2 Repayment begins after funds are disbursed for the Wells Fargo Student Loan for Parents and the Wells Fargo Private ConsolidationSM Loan. 

3 Interest rate discounts:

The Get College ReadySM promotion provides a 0.25% interest rate discount on new Wells Fargo private student loan applications received April 1, 2015 through June 30, 2015 and is effective for the life of the loan. This promotional discount may be combined with either a Wells Fargo relationship discount or a Wells Fargo Affinity relationship discount whichever is greater but not both.  Additional restrictions, limitations and exclusions may apply; please contact a Student Loan Consultant for further details. Offers may be modified or withdrawn at any time without notice and may not be transferable.  All applications are subject to approval. 

Discount eligible at time of application. You may qualify for an interest rate discount if you or your cosigner has any of the following Wells Fargo products prior to your Final Loan Disclosure being issued:

  • A Wells Fargo PMA Package — 0.50% discount
  • A qualifying Wells Fargo consumer checking account — 0.25% discount
  • A prior federal or private student loan made by Wells Fargo — 0.25% discount (prior Wachovia federal student loans are not eligible)


Only one qualifying relationship discount will apply. You will automatically receive the highest applicable discount for the life of the loan.

Discount eligible during repayment.

  • Automatically withdrawn payment discount (“ACH”) — 0.25% interest rate reduction to borrowers who have their payments automatically withdrawn from a personal deposit account. This discount does not apply to automatic bill payments set up solely by you. If the automatic payment is canceled at any time after repayment begins, the discount will be lost until automatic payment is reinstated. The 0.25% interest rate reduction is effective the day after the first payment is made using automatic withdrawal during the repayment period. Discount reduces 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.  Discount does not apply during any deferment or forbearance period.


Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

Wells Fargo reserves the right to modify or discontinue interest rate discount program(s) for future loans or to discontinue loan programs at any time without notice. For details, including eligibility requirements, visit us at wellsfargo.com/student or call 1-800-378-5526.

4 Cosigner may be released after borrower makes 24 consecutive on- time payments. Student borrower must initiate release, be a U.S. citizen, and meet minimum credit criteria at time of request.

5 Interest rate reflected as of January 22, 2015 and subject to change. The quoted annual percentage rate (APR) includes the promotional discount of 0.25% and a customer discount of 0.25% for having a prior student loan with Wells Fargo or a qualified Wells Fargo consumer checking account.

6 Benefit applies in the event of death or total and permanent disability of student beneficiary.

* Variable interest rates are based on an Index, plus a margin.  The APR for a variable rate loan may increase during the life of the loan if the index increases.  This may result in higher monthly payments.

Apply for a Wells Fargo Private Consolidation Loan