Understand your interest rate options
Wells Fargo offers you the choice of variable and fixed interest rates.
Each option has unique advantages to consider before choosing your rate.
How are they different?
Variable interest rates
Generally provide a lower initial rate than fixed rates
The interest rate may increase or decrease over the life of the loan
Monthly payments may increase or decrease over the life of the loan
Fixed interest rates
The interest rate remains the same over the life of the loan
Allow you to better predict how much total interest you’ll pay on your loan
Monthly payments will remain the same over the life of the loan
Included are two Application Disclosures; one for the variable interest rate and one for the
fixed interest rate. The Application Disclosures will help you understand the terms of the loan
program and the cost of taking the loan.
Please review the pages carefully before choosing your interest rate.
Loans subject to qualification
Wells Fargo Education Financial Services is a division of Wells Fargo Bank, N.A. All rights reserved.
© 2014 Wells Fargo Bank, N.A. Equal Opportunity Lender. Rev. (05-2014)
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Wells Fargo Education Financial Services is a division of Wells Fargo Bank, N.A.
© 2014 Wells Fargo Bank, N.A. Equal Opportunity Lender Rev. (05-2014)
Wells Fargo Student Loan for Career and Community Colleges
Application and Solicitation Disclosure
Education Financial Services
P.O. Box 5185
Sioux Falls, SD 57117-5185
1-800-658-3567
FAX: 1-800-456-0561
Loan Interest Rate & Fees
Your starting interest rate will be between
%
and
%
After the starting rate is set, your rate will then vary with
the market.
Your Starting Interest Rate (upon approval)
The starting interest rate you pay will be determined after you apply. It will
be based upon your credit history and other factors, including cosigner
credit and your/cosigner's relationship with the Bank. If approved, we will
notify you of the rate you qualify for within the stated range.
Your Interest Rate during the life of the loan.
Your rate is variable. This means that your rate could move lower or
higher than the rates on this form. The variable rate is based upon the
Prime Rate (a publicly available interest rate we use to set the variable
rate). For more information on this rate, see the reference notes.
Although your rate will vary, it will never exceed (the
maximum allowable for this loan).
Loan Fees
Application Fee: $ Origination Fee: The fee that we charge to make this loan is %.
Loan Guarantee Fee: % Repayment Fee: % Late Charge: $ Returned check charge: $
Loan Cost Examples
The total amount you will pay for this loan will vary depending upon when you start to repay it. This example provides estimates
based upon three (3) different repayment options available to you while enrolled in school.
Repayment Option
Amount Provided
(amount provided
directly to your school)
Interest Rate
(highest starting
possible rate)
Loan Term
(how long you have to
pay off the loan)
Total Paid over
years
(includes associated
fees)
1. DEFER PAYMENTS
Make no payments while enrolled in
school. Interest will be charged and
added to your loan
$ %
years
starting after the
deferment period
$
2. PAY ONLY THE INTEREST
Make interest payments but defer
payments on the principal amount while
enrolled in school
$ %
years
starting after the
deferment period
$
3. MAKE FULL PAYMENTS
Pay both the principal and interest
amounts while enrolled in school
$ %
years
starting after your first
payment
$
About this example
The repayment example assumes that you remain in school for years and have a month grace period before beginning repayment
of the year repayment term. It is based on the highest starting rate currently charged and associated fees.
See reverse side for important information
Page of
4.75
10.99
10,000.00
26,962.56
12
10.99
10,000.00
22,988.52
12
10.99
10,000.00
18,043.20
12
4
6
12
12
3
6
18%
0.00
0.00
0.00
0.00
28.00
0.00
Federal Direct Loan Alternatives
Loan Program Current Interest Rates by Program Type
PERKINS for Students % fixed
STAFFORD for Students
% fixed Undergraduate subsidized
% fixed Undergraduate unsubsidized
% fixed Graduate unsubsidized
PLUS for Parents % fixed
PLUS for Graduate/Professional Students % fixed
You may qualify for Federal
education loans.
For additional information on
student loan options, contact
your school’s financial aid
office or the Department of
Education at:
www.federalstudentaid.ed.gov
Next Steps
1. Find Out About Other Loan Options
Some schools have school-specific student loan benefits and terms that are not detailed on this form. Contact your school’s financial
aid office or visit the Department of Education’s website at www.federalstudentaid.ed.gov for more information about other loans.
2. To Apply For This Loan, Complete the Application
If you are approved for this loan, the loan terms will be available for 30 days (terms will not change during this period, except as
permitted by law and the variable rate may change based on the market).
Reference Notes
Variable Interest Rate
This loan has a variable interest rate, that is based on a publicly available index, the Prime Rate. Your rate will be calculated
each month by adding a margin between % and % to the Prime Rate. The Index (which is equal to the Prime Rate)
is subject to a contractual minimum of %.
The rate will not increase more than once a month and will never exceed % (the maximum allowable for this loan).
Wells Fargo Relationship Discount - The Wells Fargo Relationship Discount will apply for the life of the loan if the borrower or
any cosigner has a Qualified Relationship with the Bank at any time between the application and issuance of the Final
Disclosure. Please ask the Bank about what constitutes a "Qualified Relationship" if you have any questions about this feature.
Further Relationship Discount details are set forth in the Loan Request/Consumer Credit Agreement.
Eligibility Criteria
Borrower:
Must be enrolled as an undergraduate or graduate student at an eligible school, and seeking a degree, certificate, or license.
Must be a U.S. Citizen, permanent resident alien without conditions, or an international student who is a temporary resident alien
with a current U.S. address and with proper evidence of eligibility. For permanent and temporary resident aliens, a U.S. citizen
cosigner is required.
Must meet credit, debt to income, and employment requirements on your own or apply with a cosigner that meets such
requirements.
Cosigner:
Most students will need a cosigner for this loan to meet underwriting requirements. Rates are typically higher without a cosigner;
however, cosigners are not required for qualifying student borrowers.
Borrower/Cosigner:
Must be at the age of majority or older at the time of the application. The age of majority is 18 years old in all states except
Alabama and Puerto Rico. The age of majority in Alabama is 19. The age of majority in Puerto Rico is 21.
Cosigner Release:
A cosigner may be released from the loan if the borrower is a U.S. Citizen and requests release of the cosigner after the first 24
consecutive monthly payments are made on time, no forbearances/modifications were granted for hardship reasons during those
24 months, and the borrower meets a full credit evaluation at the time of the request.
Bankruptcy Limitations
If you file for bankruptcy you may still be required to repay this loan.
More information about loan eligibility and repayment deferral options
will be available in your Loan Request/Consumer
Credit Agreement.
Wells Fargo Education Financial Services is a division of Wells Fargo Bank, N.A.
© 2014 Wells Fargo Bank, N.A. Equal Opportunity Lender Rev. (05-2014)
Page of
1.50
7.74
3.25
5.00
4.66
4.66
7.21
and the Borrower Self-Certification Form.
The certification form can be obtained from the school's
financial aid office.
4
6
18
6.21
7.21
Wells Fargo Student Loan for Career and Community Colleges
Application and Solicitation Disclosure
Education Financial Services
P.O. Box 5185
Sioux Falls, SD 57117-5185
1-800-658-3567
FAX: 1-800-456-0561
Loan Interest Rate & Fees
Your interest rate will be between
%
and
%
After the rate is set, it will be fixed for the entire
term of the loan.
Your Interest Rate (upon approval)
The interest rate you pay will be determined after you apply. It will
be based upon your credit history and other factors, including
cosigner credit and your/cosigner's relationship with the Bank. If
approved, we will notify you of the rate you qualify for within the
stated range.
Your Interest Rate during the life of the loan.
Your rate is fixed. This means that your interest rate will never
change during the life of your loan. For more information on this
rate, see the Reference Notes.
Your rate will not change after you are approved.
Loan Fees
Application Fee: $ Origination Fee: The fee that we charge to make this loan is %.
Loan Guarantee Fee: % Repayment Fee: % Late Charge: $ Returned check charge: $
Loan Cost Examples
The total amount you will pay for this loan will vary depending upon when you start to repay it. This example provides
estimates based upon three (3) different repayment options available to you while enrolled in school.
Repayment Option
Amount Provided
(amount provided
directly to your
school)
Interest Rate
(highest
possible rate)
Loan Term
(how long you have
to pay off the loan)
Total Paid over
years
(includes
associated fees)
1. DEFER PAYMENTS
Make no payments while enrolled in
school. Interest will be charged and
added to your loan
$ %
years
starting after
the
deferment period
$
2. PAY ONLY THE INTEREST
Make interest payments but defer
payments on the principal amount
while enrolled in school
$ %
years
starting after
the
deferment period
$
3. MAKE FULL PAYMENTS
Pay both the principal and interest
amounts while enrolled in school
$ %
years
starting after your
first payment
$
About this example
The repayment example assumes that you remain in school for years and have a month grace period before
beginning repayment of the year repayment term. It is based on the highest rate currently charged and associated
fees.
Wells Fargo Education Financial Services is a division of Wells Fargo Bank, N.A.
© 2014 Wells Fargo Bank, N.A. Equal Opportunity Lender Rev. (05-2014)
See reverse side for important information
Page of
7.74
13.34
10,000.00
32,159.52
12
13.34
13.34
10,000.00
26,101.26
12
13.34
10,000.00
20,098.08
12
4
6
12
12
0.00
0.00
0.00
0.00
28.00
0.00
5
6
Federal Direct Loan Alternatives
Loan Program Current Interest Rates by Program Type
PERKINS
for Students % fixed
STAFFORD
for Students
% fixed Undergraduate subsidized
% fixed Undergraduate unsubsidized
% fixed Graduate unsubsidized
PLUS
for Parents % fixed
PLUS
for Graduate/Professional Students % fixed
You may qualify for Federal
education loans.
For additional information on
student loan options, contact
your school’s financial aid
office or the Department of
Education at:
www.federalstudentaid.ed.gov
Next Steps
1. Find Out About Other Loan Options
Some sch
ools have school-specific student loan benefits and terms that are not detailed on this form. Contact your
school’s financial aid office or visit the Department of Education’s website at www.federalstudentaid.ed.gov for more
information about other loans.
2.
To Apply For This Loan, Complete the
Applicatio
n
If you are approved for this loan, the loan terms will be available for 30 days (terms will not change during this period,
except as permitted by law).
Reference Notes
Fixed Interest Rate
Wells Fargo Relationship Discount - The Wells Fargo Relationship Discount will apply for the life of the loan if the
borrower or any cosigner has a Qualified Relationship with the Bank at any time between the application and
issuance of the Final Disclosure. Please ask the Bank about what constitutes a "Qualified Relationship" if you have
any questions about this feature. Further Relationship Discount details are set forth in the Loan Request/Consumer
Credit Agreement.
Eligibility Criteria
Borrower:
Must be enrolled as an undergraduate or graduate student at an eligible school, and seeking a degree, certificate, or
license.
Must be a U.S. Citizen, permanent resident alien without conditions, or an international student who is a temporary
resident alien with a current U.S. address and with proper evidence of eligibility. For permanent and temporary
resident aliens, a U.S. citizen cosigner is required.
Must meet credit, debt to income, and employment requirements on your own or apply with a cosigner that meets
such requirements.
Cosigner:
Most students will need a cosigner for this loan to meet underwriting requirements. Rates are typically higher
without a cosigner; however, cosigners are not required for qualifying student borrowers.
Borrower/Cosigner:
Must be at the age of majority or older at the time of the application. The age of majority is 18 years old in all states
except Alabama and Puerto Rico. The age of majority in Alabama is 19. The age of majority in Puerto Rico is 21.
Cosigner Release:
A cosigner may be released from the loan if the borrower is a U.S. Citizen and requests release of the cosigner after
the first 24 consecutive monthly payments are made on time, no forbearances/modifications were granted for
hardship reasons during those 24 months, and the borrower meets a full credit evaluation at the time of the request.
Bankruptcy Limitations
If you file for bankruptcy you may still be required to repay this loan.
More information about loan eligibility and repayment deferral options will be available in your Loan Request/
Consumer Credit Agreement.
Wells Fargo Education Financial Services is a division of Wells Fargo Bank, N.A.
© 2014 Wells Fargo Bank, N.A. Equal Opportunity Lender Rev. (05-2014) Page of
and the Borrower Self-Certification Form.
The certification form can be obtained from the school's financial aid office.
6
6
5.00
4.66
4.66
7.21
6.21
7.21