Information on Wells Fargo Education Loans

What is Wells Fargo?

Wells Fargo is a financial services company, based in San Francisco. With a history of over 100 years, this large corporation does business in the Northern Mariana Islands, Canada and the Caribbean as well as in the US. The company offers a number of financing solutions, including consolidation loans, accounts, banking services, mortgages, auto loans, and education loans. They have a number of branches available in most small cities and larger towns, they have a web site which allows customers to do online transactions, and they have telephone support for customers as well.

History of Wells Fargo

Wells Fargo was founded on March 18, 1852, in New York City. The founders Henry Wells, and William G. Fargo ran both a banking company and a stagecoach company designed to cater to the California gold rush. Until 1869, the founders of Wells Fargo ran the express stages. After that time, they allowed local and independent stage lines into their business. During World War I, the government nationalized express lines, so that Wells and Fargo shifted to financial services, which seemed more profitable. The first bank of the Wells Fargo financial empire was opened in 1918. Wells Fargo, though, still keeps a logo of the stagecoach and even owns replica stagecoaches as a reminder of its roots. In 1996, Wells Fargo acquired the first of many banks, pushing the company higher in the financing markets. Since that time, Wells Fargo has grown steadily through a number of mergers and acquisitions.

Types of Loans Wells Fargo Offers

If you're considering Wells Fargo education loans to help you create a financial aid package, then you will want to know that Wells Fargo offers a number of private Wells Fargo student loans:

Wells Fargo Collegiate?Loan

This loan is designed for students seeking degrees at four-year universities or colleges. The amount borrowed can be up to the total cost of education, minus other sources of financial aid. With variable interest rates as low as 7.25%, this loan starts to be payable six months after a student stops going to school. Students can take up to 12 years to repay.

Wells Fargo Education AdvancementSM Loan

This loan is designed for students attending three-year schools or certain proprietary schools. Like the collegiate loan, this loan has rates as low as 7.25% and offers a student up to 12 years to repay.

Wells Fargo Education ConnectionSM Education Loan

This loan is one of the most flexible of Wells Fargo educational loans. Students must simply be enrolled in a school that is considered eligible by Wells Fargo. Students do not even have to make satisfactory grades in order to qualify. Students can borrow $1000-$25000 annually with this loan and can take up to 15 years to repay.

Wells Fargo Education ConnectionSM Career Loan

This loan is designed for students enrolled at certain proprietary schools, eligible trade schools, and those who are involved in courses designed to help them change careers or enhance their current career skills. This loan, therefore, is a flexible borrowing option that can help students with continuing education and nontraditional educational financial needs. Students can borrow $1000-$25000 annually and take up to 10 years to repay.