June 07, 2011 09:30 AM Eastern Daylight Time
Additional Discounts as High as 1.00% Offered for Wells Fargo Clients
SAN FRANCISCO–(Business WIRE)–Wells Fargo announced right now that student loan borrowers now have a fixed rate alternative to think about when financing their college education.
“We know that every single borrower is distinctive and has individual requirements. Understanding which option is very best actually depends on the customer, their scenario and comfort level”
In the past, most private student loan lenders provided variable rate financing, meaning that the interest rate charged on a loan may possibly adjust over time. Wells Fargo’s new fixed rate feature supplies a new alternative for students and parents who want the security of understanding what their payments will be each month.
“We know that every borrower is special and has individual wants. Realizing which alternative is very best really depends on the customer, their situation and comfort level,” says Patrick Conner, senior vice president, Wells Fargo Education Financial Services. “Both fixed rate and variable rate alternatives supply benefits. Variable rates are generally lower than fixed rates, nevertheless, the fixed rate choice can supply protection if interest rates go up significantly in the future. this is a feature that our customers have been requesting, so we’re excited to supply them with this new option, allowing them to decide on what very best meets their borrowing wants.”
Conner added, “In addition to the fixed rate, the identical advantages of Wells Fargo’s existing student loan products apply to the new fixed rate option including a fast and effortless on-line or phone application procedure, no origination fees, no requirement of payments to be created whilst a student is in school, and many other graduation positive aspects for students. Our new fixed rate pricing choice is merely yet another example of delivering on our vision to satisfy all of our customers’ monetary wants and help them succeed financially.”
the new fixed rate option will be provided on four of Wells Fargo’s student loan goods including Wells Fargo Collegiate Loan®, Wells Fargo Student Loan for Parents®, Wells Fargo Student Loan for Career and Community Colleges® and Wells Fargo Private Consolidation Loan®.
In addition to the new fixed rate option, Wells Fargo also is announcing this week new relationship pricing discounts for buyers with a prior Wells Fargo federal or private student loan or a Wells Fargo qualified banking relationship. these buyers might obtain extra interest rate discounts up to 1.00% on their new student loan. Clients will automatically obtain the highest qualifying relationship discount at the time of their application and be eligible for extra discounts as a graduation reward and for signing up for automatic payment withdrawal.
Students and families interested in a lot more information ought to call 1-800-378-5526 in between 7 a.m. and 8 p.m. CT , Monday – Friday, go to https://wellsfargo.com/student/ or speak with a personal banker at any Wells Fargo or Wachovia location nationwide.
Wells Fargo Education Monetary Services serves a lot more than 1.9 million student and family members consumers in all 50 states and has been in the student lending enterprise for 43 years helping clients make intelligent borrowing decisions to finance education. Education Financial Services gives clients with financial guidelines and tools to maintain their finances on track even though in school and prepare them financially for when they finish college. Wells Fargo markets its education merchandise to colleges and universities, directly to customers and through Wells Fargo Bank and Wachovia Bank. as part of the organization’s commitment to education, during 2009 Wells Fargo provided $61 million in grants to 6,500 educational programs and schools, which includes $14.four million in matched team member donations.
Wells Fargo & Organization (NYSE: WFC) is a nationwide, diversified, community-based monetary services company with $1.two trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo gives banking, insurance, investments, mortgage, and consumer and commercial finance by way of far more than 9,000 stores, 12,000 ATMs, the Net (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With approximately 280,000 team members, Wells Fargo serves 1 in 3 households in America. Wells Fargo & Organization was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.