Wells fargo consolidating private student loans
If you’d like to see a standard example of how a private lender handles student loan consolidation, you can visit Wells Fargo’s page.
You can choose a fixed or variable rate, unlike federal consolidation (which is fixed rate only), and your repayment schedule begins immediately.
There are two discounts for which you may qualify, one for authorizing automatic payment from a checking or savings account and another for existing Wells Fargo customers (called the relationship discount).
Amount totals eligible for consolidation with Wells Fargo range from ,000 to 0,000.
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They claim to offer competitive rates, including fixed or variable interest rate options and interest rate discounts to help reduce loan costs.The federal government has set up a website to organize its Direct Loans consolidation information in one place.Here is an outline of the eligibility requirements for a Direct Consolidation Loan: Once the question of your eligibility has been settled, you can apply for a Direct Consolidation Loan in one of three ways: online, using a paper copy of the application form, or if you have only Direct loans the third option is by phone.The concept of student loan consolidation is simple: you apply for one large loan which will be used to pay off all your existing student loans.That single loan will be easier to manage, because you’ll only make one monthly payment, and because it has a longer term than your old loans that payment will be smaller than the sum of your current payments.