Parent Student Loans
Be aware though that PLUS Loans have the highest interest rate of all federal loans-as of 2020, the interest rate is 7.08%.
If you have good credit and are a Wells Fargo customer and can take advantage of its customer loyalty discounts, you could qualify for a lower interest rate with a Wells Fargo parent student loan. You can borrow up to $25,000 per year. Take note that deferring your payments until after graduation isn’t an option with Wells Fargo as repayment begins immediately.
Private Student Loans for Career Training and Community Colleges
If you plan to attend a two-year school or a career training program rather than pursuing a bachelor’s degree, you may be eligible for a Wells Fargo loan for community colleges. With these loans, you can borrow up to $15,000 per year for a two-year public or private school, and $20,000 per year for a four-year proprietary school. These loans have a six-month grace period after you leave school.
Loan Eligibility
- You must be enrolled as a student at an eligible school seeking a degree, certificate, or license.
- Students can qualify for loans if they are enrolled less than half-time.
- You must be a U.S. citizen or permanent resident, or be a permanent resident alien or a Deferred Action for Childhood Arrivals (DACA) individual with a current U.S. Læs mere If you are a parent of an undergraduate student, one option is to take out a federal Parent PLUS Loan