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Consolidate or Refinance Private Student Loans

With a Wells Fargo Private ConsolidationSM loan, you may be able to combine multiple private student loans with multiple payments into one loan with a single payment, or refinance a single loan.

When you consolidate multiple student loans or refinance a single student loan, you may receive a lower monthly payment with a reduced interest rate or an extended repayment term.

Keep in mind that extending your repayment term may increase the amount of interest you pay over the life of the loan.


  • Enjoy a potentially lower monthly payment.
  • Choose from a competitive fixed or variable interest rate option when you apply.
  • Reduce your loan cost by qualifying for our interest rate discounts.
  • Pay no application, origination or early-repayment fees.

When you apply online or call a knowledgeable Student Loan Consultant, we’ll help you to understand if student loan consolidation can benefit you.


Use this interactive worksheet (PDF) to organize your current private student loan information and make your application easier.

Watch and learn how student loan consolidation can help your future take flight.

Watch the video

Ready to apply? Apply Now
You can also call a Student Loan Consultant at 1-877-315-7723
Easy Online Application Process


Repayment begins immediately upon consolidating or refinancing private student loans.


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 3.99% APR (with discounts) to 8.99% (without discount).
  • Fixed interest rates range from 6.24% APR (with discounts) to 10.99% 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 both student loan discounts.

Combine your private loans

Up to $120,000 for this loan. The lifetime limit for this loan combined with all other education-related debt is $250,000.


Calculate how to potentially pay less interest on your student loan:
Student Loan Interest Calculator

Calculate the monthly payments on your private student loans:
Student Loan Repayment Calculator

If you’re a borrower with little or no credit history, or you have 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 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 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 borrower, the loan can be forgiven and the 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 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.

What are the eligibility requirements?

  • You must be an U.S. citizen, U.S. national, or a permanent resident alien without conditions. For permanent resident aliens, a U.S. citizen cosigner is required. 
  • You and any cosigner must meet credit, employment, and debt-to-income requirements.
  • You must have at least $5,000 in private student loans to consolidate.

What can I include in a private consolidation loan?

You can include any private student loan debt from Wells Fargo or another lender. 

You cannot include:

  • Federal loans
  • 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

What do I need to apply for a private consolidation loan?

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

  • The lender’s name and address
  • Your account number
  • Your outstanding balance
  • Your current monthly payment
  • Your current rate and whether it’s fixed or variable

How does the consolidation process work?

Once you apply, a private student consolidation loan application usually takes 45 – 60 days to process. 

Until we notify you that your loans are consolidated, you’ll need to continue making payments on all your separate loans.

How will consolidation affect my payments?

The Wells Fargo Private ConsolidationSM loan allows you to consolidate multiple private student loans or refinance a single private student loan. This can potentially lower your monthly payment by qualifying for a lower interest rate or extending the loan repayment term. Keep in mind that extending the repayment term may increase the amount of interest you pay over the life of the loan.

Easy Online Application Process