Wells Fargo

Wells Fargo & Company is a United State multinational banking and financial services holding company, headquartered in San Francisco, California. It is the largest bank in the world by market value.

For years Wells Fargo has been a leader in the student loan industry. The organization has worked with many schools across the country to be a premiere institution to house federal student loan debt. It offers a full array of private student loans, many rate reduction programs and competitive terms, making Wells Fargo the Top Ten Reviews Bronze Award winner for student loan providers.

Features

One feature that places this company among the top lenders is its consolidation loans. Students can take a consolidation loan to combine their private and federal student loan debt. Usually this results in a much lower monthly payment and a better overall Annual Percentage Rate.

Undergraduate Student Loans
Undergraduate college students can select from a number of Wells Fargo loans, including these options:

1. Wells Fargo Collegiate Loans are for student enrolled at 4-year colleges and universities. Competitive interest rates are in the 3-6% range, depending on whether fixed or variable rate options are selected.  Loans may not exceed the cost of education, minus any other financial aid that is received concurrently.  Repayment is not required during a six-month grace period following school.
2. Wells Fargo Student Loans for Career and Community Colleges serve students pursuing associate and other degrees at eligible institutions of higher education. Maximum eligibility is as much as $20,000 worth of educational assistance annually, depending on each applicant’s academic major.  Interest rates are in the 4-7% range depending on the influence of market forces. Students begin repayment following a six-month grace period that begins when borrowers leave school.

Graduate Student Loans
Graduate students advancing through specialized degrees also qualify for Wells Fargo student loans. These Wells Fargo private graduate school loans are designated for specialized areas of graduate study:

• Graduate Loans are for applicants who seek funding without the assistance of a cosigner.  Competitive fixed interest rates under 7% are common.
• They are secured with co-signers, to add credibility and keep interest rates low for borrowers.
• Law School/Bar Exam Loans are reserved for Bar Examination candidates seeking funding for exam fees and related costs.
• Health Care/Medical Students benefit is provided by Wells Fargo MedCap Loans that provide funding for health care specialists.  No annual maximum limit is in place, but borrowers may not exceed a total of $250,000 in lifetime loan disbursal.  Eligible disciplines include:
• Chiropractic
• Occupational Therapy
• Pharmacy
• Podiatry
• Veterinary Medicine
• Others

Because consolidation repayment begins immediately, it is recommended for individuals who are done with school.  Around $5000-$100,000 worth of student debt may be consolidated into a single Wells Fargo loan.