When it’s time to pay for college... the money can come from many sources: grants, scholarships, family contributions, and student loans. When taking out a student loan, you should carefully compare all your options, including both private and federal student loans.
Private student loans are becoming ever more competitive with federal student loans and they provide a chance to work with a bank that can help you manage your ongoing financial needs.
What is a private student loan?
A private student loan helps students and their families cover costs related to education. Features vary from lender to lender. Wells Fargo private student loans provide:- Borrowing limits designed to cover eligible education; expenses including tuition, living expenses, or books;
- Competitive interest rates, including fixed rate options;
- Options to lower your interest rate;
- Deferred payments while in school on most loans;
- Easy application process.
Some private loans, like the ones from Wells Fargo, are available even if you are attending less than half-time, or seeking a license or multi-course certificate. Some loans allow you to postpone payments if you return to school.