Name of the Organization : Wells Fargo
Type of Facility : How To Apply For A Private Student Loan
State : California
Country : United States of America
Website : https://www.wellsfargo.com/student/planning-steps/
How To Apply For A Private Student Loan :
Before Starting Your Application :
** Wells Fargo offers a variety of private student loan options for undergraduate, graduate school, and career-training programs.
Related : Wells Fargo Online Bill Pay USA : www.statusin.org/23933.html
** Before you start an application, please provide the information requested below to learn more about the availability of Wells Fargo private student loan options.
** Based on the results, you may choose to complete an application online or by phone.
** When it comes to financing your education, be sure to look at all of your options — including grants, scholarships and loans from all sources — and make careful comparisons among all your choices.
Before I apply for a private student loan, what do I need to do?
1. Understand how much you may need to borrow :
Before you apply for student loans, review the financial aid award letter from your school and use their net price calculator, or use one of our calculators.
2. Choose a loan that meets your needs :
** Enter your information to find out which loan products meet your needs.
3. Find a cosigner :
** No matter who the lender is, private student loan applicants may need a cosigner, especially undergraduates or students who don’t have a credit history or steady income.
** Even if you have an established credit history, a cosigner may improve your ability to get approved, enable you to secure a lower interest rate, and speed up the credit decision process.
** Student borrowers that meet these requirements on their own do not need a cosigner (but may still choose to apply with a cosigner).
4. Collect the information for the application :
** School information, including school name, major, grade, and school term for which you need the loan
** Social Security number
** Telephone numbers
** Current addresses, both for your home and your school
** Gross income information
** Residence information, including whether you own or rent, and the monthly housing payment
** Requested loan amount
What are the steps for applying online?
** Here are a few of the details on the online application experience (this summary is based on a student applicant with a cosigner)
Complete the application online :
** After you’ve completed your part of the student loan application, your cosigner will need to apply.
** Make sure you share your application number with the cosigner.
** The cosigner can access your application from wellsfargo.com/student at cosigner complete an existing application.
** As part of your online application, you will receive a disclosure showing a range of interest rates that are available for the loan you applied for.
** Later, you will get another disclosure that shows the specific interest rate you qualified for.
** Watch for an email that tells you what your next steps are. Follow the steps and provide the requested information.
Sign or electronically sign the documents :
** Sign an existing loan
** Sign the consumer credit agreement.
** Sign the self-certification form to show you’ve verified the amount you need to borrow.
** Additionally, your school will verify (sometimes referred to as “certify”) that you’ve enrolled and that your requested loan amount does not exceed the cost of attendance.
** The school certification may impact the amount you requested.
** Watch for the final disclosure sent through U.S. mail.
Funds will be distributed to your school :
** Please allow two to three weeks to complete the process, not including any extra time you might need to locate information.
** We recommend that you allow enough time to be sure that you can complete the process comfortably before funds are due to the school.
When should I apply for a private student loan?
** After you have received your award letter, use a private student loan to help pay for your education after you’ve considered other aid (grants, scholarships, federal loans)
Can I use private student loans for living expenses?
** The following Wells Fargo student loans may help cover living expenses
** Wells Fargo Collegiate® Loan, Wells Fargo Graduate (SM) Loan, MedCAP® Alternative Loan for Health Professionals, and Wells Fargo Bar Exam (SM) Loan.