Take advantage of interest rate reductions on new student loans. Apply Now
Lower your total loan cost and reduce your monthly payments when it's time to repay your loan.
Did you know if you or your cosigner already have a student loan with Wells Fargo, we’ll give you a 0.25% interest rate discount on your new student loan?
Did you know if you or your cosigner have or open a qualifying Wells Fargo consumer checking account, we’ll give you a 0.25% or 0.50% interest rate discount on your new student loan?
We appreciate you as a customer and want to help you reduce your total loan costs, and lower your monthly payment amount.
Discounts for Wells Fargo customers
Reduce your interest rate with one of the following discounts if you or your cosigner have a prior student loan or have or open a qualifying Wells Fargo consumer checking account during the application process:
- 0.25% interest rate discount with a prior federal or private student loan with Wells Fargo [prior Wachovia federal student loans are not eligible]
- 0.50% interest rate discount with a Wells Fargo PMA® Package
- 0.25% interest rate discount with a qualifying Wells Fargo consumer checking account
If you don’t have a qualifying consumer checking account, contact Wells Fargo at 1-800-869-3557 or open your account online today prior to your Final Loan Disclosure being issued.
Reduce your costs even more during repayment
Automatic Payment Discount. 0.25% interest rate discount for enrolling in automatic payments.
You may qualify for multiple discounts that can add up to great savings over the life of your loan as long as you continue to qualify.
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.
You can setup automatic payments online or by submitting the authorization form*.
Parents, family members, or friends can help with a student's education. Be a cosigner to help your student qualify for a student loan and potentially receive a lower interest rate. Or borrow for the benefit of a student with the Wells Fargo Student Loan for Parents.
Interest Rate Discounts:
Discount eligible during application: You may qualify for a relationship 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 receive the 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.
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.
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 Well Fargo-participating school.
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Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.