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Student Loan Consolidation and Refinancing

Consolidate and refinance your student loans

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Wells Fargo Private ConsolidationSM

With a Wells Fargo Private Consolidation loan you may be able to combine multiple federal and/or private student loans into a single loan or refinance a single loan.


  • Refinance both federal and/or private student loans from any lender
  • Choose from a competitive fixed or variable interest rate option
  • Dedicated Student Loan Consultants assist you every step of the way
  • Reduce loan costs by qualifying for our interest rate discounts
  • Pay no application, origination or early-repayment fees
Ready to apply? Apply Online
You can also call a Student Loan Consultant at 1-877-315-7723
How it works

Interest Rate Information

Competitive Annual Percentage Rate (APR)

  • Variable interest rates range from 3.75% APR (with discounts) to 9.74% (without discount).
  • Fixed interest rates range from 3.99% APR (with discounts) to 9.99% APR (without discount).

The range of available APRs differs based on repayment term.

Actual APR based on repayment term selected and creditworthiness.

Repayment terms options may include 5, 7, 10, 15 and 20 years based on credit qualifications and loan amount.

View APR examples

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. 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 but may reduce the number of payments or reduce the amount of your final payment.

Should I choose a variable or fixed interest rate?
Variable interest rates are based on market conditions, so if market rates go up or down, so may 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 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 to you during the application process, at which point you can choose between a specific variable interest rate and specific fixed interest rate.

Consolidation and Refinancing Process

Step 1: Apply online

You can start an application if you’re looking to borrow or cosign a loan.

Step 2: Provide loan details

Provide the following info for each loan you’d like to consolidate:

  • Current loan balance
  • Monthly payment
  • Who you pay each month
  • Loan number
  • Interest rate
  • Interest rate type
  • Loan type
  • Remaining term
  • Billing statement

Step 3: Detailed Loan Review

To help you understand how consolidation will affect each of your loans, we will walk you through a detailed loan review. You will be able to decide which loans you want to consolidate and which loans you may want to leave out.

Step 4: Sign your documents

If your loan is approved and your loan documents are ready to be signed, we’ll email you a link to sign online or print out to sign and upload, fax or mail.

Borrower and cosigner(s) need to sign the following:

  • Financial Informed Choice Form
  • Federal Loan Informed Choice Form (if federal loans are included)
  • Loan Request Consumer Credit Agreement

You’ll receive a final loan disclosure once all documents are signed.

That’s it!

If your loan is approved, we'll pay off the lenders of your loans included in your consolidation and those loans will make up one new monthly payment to Wells Fargo.


What does a consolidation loan do?

A consolidation loan allows you to refinance one or more loans into one new loan with a new interest rate and/or payment term.

Consolidating your federal and/or private student loans with Wells Fargo may help you take control of your finances by creating a single private loan with a new interest rate, one monthly payment, and a new repayment term of your choice.

A single eligible loan can also be refinanced with the Wells Fargo Private Consolidation loan.

What are the eligibility requirements?

  • You must be a U.S. citizen or U.S. national, or be a permanent resident alien with proper evidence of eligibility.
  • You and any cosigner must meet credit, employment, and debt-to-income requirements.
  • Your total student loan balance must be at least $5,000 to consolidate, while each individual loan must have a minimum balance of $1,000.

What can I include in a private consolidation loan?

You can include federal and/or private student loan debt from Wells Fargo or another lender, including: Federal Direct loans, Federal Stafford Loans (subsidized and unsubsidized) and Federal PLUS loans.

You cannot include any other debt that is not a qualified education loan (for example, credit card or line of credit), even if it was used to pay education expenses.

Your total student loan balance must be at least $5,000 to consolidate, while each individual loan must have a minimum balance of $1,000.

Student loan consolidation borrowing limits

  • Students with undergraduate degrees, graduate degrees, or completed certificate programs may consolidate up to $150,000 in federal and/or private student loans.
  • Students with allopathic, osteopathic, or dental graduate degrees may consolidate up to $300,000.
  • Students with law, MBA, or other medical graduate degrees may consolidate up to $180,000.
  • Students with associate degrees and those who did not graduate may consolidate up $120,000.

What do I need to know about my current loans to apply for a consolidation loan?

For each private student loan, you’ll need to provide:

  • The lender’s name
  • Your account number
  • Your outstanding balance
  • Your current interest rate

If any of your loans are federal loans, be sure to understand the federal student loan benefits you may be forfeiting by refinancing or consolidating.

How will consolidation or refinancing affect my payments?

Consolidating multiple student loans or refinancing a single private student loan may lower your monthly payment if you qualify for a lower interest rate or a longer repayment period. Keep in mind that extending the repayment term may increase the total amount you pay over the life of the loan. Alternatively, if you choose a shorter repayment term than your current loans, your monthly payments may increase, but the total amount you pay may be less over the life of the loan.

Will I need a cosigner?

Some borrowers will need a cosigner for this loan to meet the loan credit requirements. Rates are sometimes higher without a cosigner. Borrowers that qualify on their own do not need a cosigner but may still choose to apply with a cosigner.

Who should I ask to be a cosigner?

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

Can a cosigner ever be removed early from the loan?

Under certain circumstances, a cosigner can be removed.

Who is responsible for paying the loan?

The borrower and the cosigner (if applicable) 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 about your payment options.

If a consolidation loan borrower dies or becomes totally and permanently disabled, and that individual was a student borrower on loan(s) included in the consolidation loan, the amount forgiven will correspond to the outstanding balance of any underlying loan(s) made to that individual.

How does my cosigner apply?

Your cosigner may apply online or over the phone.

Review the application checklist for information on what you need to apply.


You will receive a billing statement in the mail after your loans have been successfully consolidated and loan proceeds have been disbursed to your prior loan servicers. The billing statement will include the due date for your first payment.

Learn about repayment


See if you can lower your monthly payments, or pay less interest on your student loan.

Repayment calculator

Interest calculator


An eligible cosigner may help you qualify for a private consolidation loan and potentially lower rates.

Learn about cosigning

Managing Student Debt

A little budgeting goes a long way. Learn more about student loan debt, and get valuable tips.

Learn about student debt

The annual percentage rate (APR) describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate. The APR allows a borrower to compare costs of credit because it factors in term, interest rate and fees associated with the loan.

With student loans, two things cause the APR to be different than an interest rate:

  1. Origination fees
  2. The length of time before repayment begins

For each private student loan, you’ll need to provide: