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Refinancing Student Loans Wells Fargo

Refinancing Student Loans Wells Fargo

Refinancing is a great way to reduce your student loan balance and lower your monthly payments. The Wells Fargo Student Loan Refinance Center can help you lower your rate and pay off your student loans faster. Here’s how it works:

Step 3: Apply for loan

  • Apply online.
  • Apply in person at your local branch.
  • Call the number on the back of your Wells Fargo Credit Card and request a credit line increase to refinance your student loans with Wells Fargo.
  • Mail or fax in an application form to a local branch to apply for refinancing student loans over the phone or by email if you are unable to do so in person or over the Internet.

Step 1: Find out if you prequalify

  • Prequalification is the first step to getting preapproved.
  • Preapproval is a higher level of qualification that can only be determined by submitting your application to the lender you’re applying with, who will then evaluate it before giving you an offer.
  • You can get prequalified for loans through many different types of lenders, including banks and credit unions. The Wells Fargo lending team can help you determine which loan programs are available to refinance your student loans and how much money you might be eligible for based on your individual circumstances. To get prequalified, simply fill out our online form here or call us at 1-877-967-2534 (toll free).

Step 2: Compare your options

Once you’ve compared your options, it’s time to decide which loan type is right for you. The first step is to check the interest rates. Then, look at other fees and repayment terms. This way, you’ll know whether a certain loan type will be financially beneficial for you or not.

Along with comparing student loans based on their interest rates and repayment terms, it’s also important to consider their benefits and limitations (as well as pros/cons) before deciding which one to apply for.

To help make this process easier, we’ve compiled all possible information about Wells Fargo loans into an easy-to-read format so that customers can easily find what they need without having access any specific information about each type of loan offered by this company.”

Borrowing Limits

The amount you borrow is based on your income, credit score, school and major.

  • The table below shows the borrowing limits for each category:

Eligible Degrees and Schools

If you are an eligible borrower, you may be able to refinance your private student loans with Wells Fargo.

To be eligible for refinancing, you must have at least one child of yours enrolled in college or graduate school. The child must also be attending a qualified educational institution as defined below:

Repayment Options

  • Repayment Options: You can choose from several options to keep your payments affordable. You may be eligible for special repayment plans that make it easier to manage your student loan debt, including:
  • Pay as you go – Choose this option if you want to pay a small amount every month until you’ve paid off your loan. You’ll pay more than the minimum amount due each month but less than with other repayment plans. It takes longer to repay your loan when using this plan.
  • Income-Based Repayment Plan – This plan bases monthly payments on what you earn and family size, so they’ll be different from person to person. Your monthly payment will be lower than it would be if you were paying under another plan like standard 10-year repayment or graduated repayment (described below). The downside is that total interest paid will also be higher over time because of the extended length of time it takes for all debts incurred during undergraduate studies at an accredited four-year institution like Wells Fargo University Affiliated School (WFUAS)

Refinance Charges

The fees you pay for refinancing your student loans can vary widely, depending on the type of loan and the lender. Student loan refinancing charges are often based on a percentage of the amount you borrow. For example, if you refinance a $10,000 federal Stafford loan into a private alternative and pay 2 percent in refinancing charges, that would mean paying $200 in fees.

Refinancing charges may be due at closing or over time as you repay your new loan—it depends on how much money you’re borrowing and which lender is offering it to you (some lenders only allow certain amounts to roll over). Either way, they’re usually paid in one lump sum or broken down into monthly installments over several years.

You can save a lot of money by refinancing your student loans.

Student loan refinancing doesn’t necessarily have to be a part of your retirement savings plan, but it is an excellent way to save big on interest and get out from under a mountain of debt. If you’ve been looking for an opportunity to pay off your student loans, look no further than Wells Fargo’s Student Refinance Plus (SRP).

This program allows borrowers with federal or private student loans to refinance their debts at a lower rate than they currently pay. The process can take as little as five minutes and requires nothing more than some basic information about your current loan terms, such as its interest rate and balance amount.

Once approved for the program, SRP members receive a new consolidated payment schedule based on the new interest rate from their chosen lender (which could be Wells Fargo itself). Once this payment is made each month, any remaining funds are applied towards their principal balance until it has been paid off completely—and because these payments are fixed over time rather than variable like most other forms of debt relief, there will never be any surprises when it comes time for repayment (or lack thereof).

You can save a lot of money by refinancing your student loans.