Published Jul 16, 2005
A friend told me that Wells Fargo has a variety of college loans as well as loans specifically for those studying Medical professions, nursing included.
I checked out their website but, i wanted to know if anyone has a private student loan with Wells Fargo and how reasonable you think it is.
I think ltheir loans for those studying n health professions, they pay out directly to the school, but they have another one which they pay directly to you, the student/borrower.
i would really like to know this too, so i hope this post stays up and current.
I tried to get a Wells Fargo Student Loan (Plato loan) but they told me I needed a cosigner. I ended up getting one through Charter One. I hear you can also get them through Bank One. The thing about private student loans is that the interest is higher, I'm a total dope about financial stuff so I don't really understand it all, but you can pay it back early to avoid all that.
Unfortunately for me, it was the only source of aid available so I took it.
Curious1alwys, BSN, RN
Um, I posted on this somewhere else. I had one a LONG time ago. I started paying it back, but only payed $100.00 (50.00 was the minimum) a month for a 8500 loan. I swear at that rate it would have taken FOREVER to pay that thing off. Also, the payoff never seemed to go down. I was paying off my cc's much easier! Anyway, it was too much to understand with it's variable APR so I transferred the balance to a low interest cc.
That being said, I still don't get how these loans work. But.......if it had taken me the max repayment time to pay off the loan it would have ended up costing me over $30,000 for a $8500 loan. That is NOT GOOD in my opinion. However, the trick is PAY MORE EVERY MONTH. If I had been paying 200-300 per month, maybe it wouldn't have seemed so bad. I also recommend only taking what you need. Budget it out and figure it out exactly. You don't want more debt than needed.
I was looking into getting one now (for college second time round) and I know it has no origination, no early payoff penalty and you can pay more per month if you want. Looks pretty good to me.
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