Wells Fargo Review  

By loansmack

Key Features

  • Student loans for undergraduates, graduates, and parents.
  • Refinance student loans for former students.
  • Can apply with & without a cosigner; cosigner release offered.
  • 15, 20 year repayment terms.
  • Undergrad/Grad Rates:  Variable Rates - 3.87% – 9.88%  Fixed Rates - 5.94% – 11.26%. 
  • Refinance Rates: Variable Rates - 4.24% – 8.99%  Fixed Rates - 5.24% – 9.49%.  
  • No origination fees or prepayment penalties.
  • Interest-rate reduction of 0.25% if you enroll in Auto Pay.

About Wells Fargo

Wells Fargo bank has been in business since 1882. The bank has a number of services including checking & savings accounts, mortgages, personal loans, etc.  The student loan division of the bank allows students and parents to take out loans to pay for college, as well as refinance student loans for people that have already graduated.  


  • Interest-rate reduction of 0.25% if you enroll in Auto Pay.
  • Loyalty Discount - You will get an additional 0.25% off your rate if you have a qualifying checking account with Wells Fargo.
  • No origination fees or prepayment penalties.


  • Rates – Since Wells Fargo lends to people that have trouble finding a cosigner, its rates are higher than if a borrower applied with a cosigner.

How to get started with Wells Fargo

You can get started with Wells Fargo through their online process. Remember, when you get a rate estimate from a lender, this involves a 'soft credit' check, which will not affect your credit score.  When you decide to actually apply for a loan, the lender will do a hard credit pull, which will slightly affect your credit score.

Documents you'll need for when applying to most lenders:

  • Government ID (passport, driver's license, green card).
  • Income verification (if applicable); this can include pay stubs, W-2's, etc.
  • Social Security number.