Wells Fargo Collegiate^® Loan Rates and Eligibility

Variable Annual Percentage Rate (APR)
The APR — variable for the life of the loan — is based on the Prime Rate¹ and the credit rating of the applicant(s). You will know the APR you qualify for once you and your cosigner (if needed) have met the initial eligibility requirements.

• 0.50% rate reduction at repayment upon verfication of graduation with the Wells Fargo Student Graduation Benefit^SM Program
  
• 0.25% interest rate reduction when we automatically withdraw payments from a personal checking or savings account⁴
  
  

Eligibility Requirements
You must be an undergraduate or graduate student and:

• Be enrolled and seeking a degree or multi-course certificate at an eligible school.
  
• Be enrolled in an eligible program. (Students in allopathic or osteopathic medicine, or JSD, LLM, or JD law programs are not eligible, but may be eligible for other Wells Fargo loans.)
  
• Have an established, positive credit history, an acceptable debt-to-income ratio, and a minimum income of $12,000 — or a cosigner who does. See Note below.
  
• Be a U.S. citizen, U.S. national, permanent resident alien without conditions, or international student who is a temporary resident alien with a current U.S. address and proper evidence of eligibility. For permanent and temporary resident aliens, a U.S. citizen cosigner is required.

Note: Juniors, seniors or graduate students with strong credit histories may be eligible for a loan without a cosigner, regardless of income.⁵

If you're approved with a cosigner, you can release him or her from liability after making your first 24 consecutive on-time monthly principal and interest payments, if you meet the minimum credit guidelines at the time of the request. (This cosigner release is not available for temporary resident aliens.)