Consolidating loans wells fargo
They claim to offer competitive rates, including fixed or variable interest rate options and interest rate discounts to help reduce loan costs.
However, students applying without a cosigner may have less chance of being approved for a loan and may not qualify for the lowest interest rates.
Wells Fargo offers a 0.25% interest rate discount on student loans for borrowers where they or a cosigner have or open a consumer checking account with the bank.
Borrowers also benefit from a 0.25% interest rate discount when they enroll in automatic payments for repaying their loan. And for students who want to go on to a graduate education while still owing undergraduate debt, there’s a 0.25% discount for borrowers who have or their cosigner has, existing Wells Fargo student loans.
However, that doesn’t mean its financial products are the best out there.
We’ve reviewed a few personal loans from traditional banks before, and they usually fall short when compared with online-only lenders.
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An added benefit is that students don't have to worry about making payments until six months after completing their education.
Take advantage of as many discounts as you can to reduce your rate and the APR may then be lower than comparable lenders.
Patchy customer service may put off some students, but the no-penalty early repayment element is definitely a welcome factor.
Wells Fargo student loans can be used to pay for any eligible education-related expenses, including tuition, housing, books, a laptop, lab fees and more.
Students or parents may apply to be the lead borrower.
You can use a savings account as collateral for the secured loan.