Consolidating my college loans

Posted by / 13-Mar-2020 12:02

Consolidating my college loans

Consolidating your federal and/or private student loans with Wells Fargo may help you take control of your finances by creating a single private loan with a new interest rate, one monthly payment, and a new repayment term of your choice.A single eligible loan can also be refinanced with the You can include federal and/or private student loan debt from Wells Fargo or another lender, including: Federal Direct loans, Federal Stafford Loans (subsidized and unsubsidized) and Federal PLUS loans.Discounts reduce the amount of interest you pay over the life of the loan.The automatic payment discount may not change your monthly payment amount but may reduce the number of payments or reduce the amount of your final payment. Variable interest rates are based on market conditions, so if market rates go up or down, so may your interest rate and monthly payments.When you apply with Wells Fargo, we will help you to carefully review all of your options.We make it easy to get your personalized rate and payment estimates with no impact to your credit score.Fixed interest rates stay the same over the life of the loan. They can answer questions and help guide you through the process.

The APR for a variable rate loan may increase during the life of the loan if the index increases. Rates are current as of 07/24/2019 and subject to change without notice.If a consolidation loan borrower dies or becomes totally and permanently disabled, and that individual was a student borrower on loan(s) included in the consolidation loan, the amount forgiven will correspond to the outstanding balance of any underlying loan(s) made to that individual.You will receive a billing statement in the mail after your loans have been successfully consolidated and loan proceeds have been disbursed to your prior loan servicers.Student loan consolidation borrowing limits Consolidating multiple student loans or refinancing a single private student loan may lower your monthly payment if you qualify for a lower interest rate or a longer repayment period.Keep in mind that extending the repayment term may increase the total amount you pay over the life of the loan.

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