To cope up with the costly educational expenses charged by the colleges and universities concerned, there are numerous lending agencies in the United States that are offering financial assistance in the form of student loans to the needy people. One such lender is Wells Fargo and is regarded as the 2nd largest lender in USA next to Sallie Mae in offering loans for undergraduate as well as post graduate studies. At the present time, this lender is offering various kinds of private student loans at a very competitive rate of interest. The money offered by this company are categorized into 4 groups and they are as mentioned under the following headings.

Wells Fargo Undergraduate Student Loans which is available to all the undergraduate courses that are being taught in America. There are four different types of aid available under this category namely Collegiate Loans, Connection Loan, Community Colleges and Parent Loan. The rate of interest starts around 3.4% APR (variable) and the financing is available for the total cost of education. Cosigner might be required in the event if the borrower does not have good credit scores.

Wells Fargo Graduate Student Loans where the financing will be made available to the graduate students for any kind of non health related post graduate studies in USA. The rate of interest is variable and starts at as low as 3.4% APR and there is no payments to be done as long as the student is in the college. There are 3 types of loan under this category and one can avail up to total educational expenses so incurred in the studies. Interest rate discount is also available and one should have good credit scores to avail the money.

Wells Fargo Student Loans for Parents is offered to the parent or any family member of the student who wishes to study in any colleges of USA. Variable interest rate starts around 4.0% APR and fixed interest rate is also available. The maximum amount up to $25,000 will be made available for a given academic year and not more than that. Interest rate discount is also available The borrower should be employed with a fixed monthly income and have good credit scores.

Wells Fargo Health & Professional Student Loans is designed for those students who wish to pursue technical education in the field of health and law stream. There are 3 types of loan available namely Health Professional Loans, MedCAP XTRA Loan and Bar Exam Loan. For health related courses, one can avail up to total cost of education minus other financial aid but for law related courses, a maximum amount of $12,000 is only available. There is no need to pay any interest while in college and variable interest rate starts at 4.6% APR. Interest rate discount is available in all the 3 types of loans under this category.

Before availing the amount, one should first adhere to a set of eligibility norms mentioned under the following headings:

• a permanent resident of USA
• age more than 18 years
• good credit scores
• valid bank checking account
• course should be a full time one
• college should be certified by Dept. of Education

One can apply for Wells Fargo Student Loans by getting online and registering to its official website. One would have to fill out a simple application form that requires you to fill personal as well as educational details. Once the form is filled, you can submit it and wait as long as the application of yours is under a review process. It takes around 15-30 days to review the form and if you qualify the eligibility criteria, the money would be transferred electronically to the account of yours. Repayment commences 6 months after course completion and one can pay back the loan in 7-10 years time.