Student Loan - Loans and Debt Consolidation
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WELLS FARGO REDUCES FIXED RATES ON STUDENT LOANS NEW 7 24 PERCENT STARTING RATE LOWER THAN UBS
Wells Fargo Reduces Fixed Rates on Student Loans; New 7.24 Percent Starting Rate Lower Than UBS
December 1, 2011 1:14 PM EST
& Co. WFC announced Thursday the reduction of fixed interest rates for many of its private student loans, as the company tries to coincide with peak season and appeal to graduates interested in consolidating their student loan debt, as well as those who are in the midst of obtaining financing for second semester coursework.
The cuts apply to collegiate loan, student loan for parents, private consolidation loan, and student loan for career and community colleges.
In addition to the new rate reduction, borrowers who have an existing customer relationship with Wells Fargo may qualify for additional rate discounts up to 0.5 percent on new loans. And for all private student loan borrowers, setting up automatic payments can further reduce interest rate during repayment by 0.25 percent.
Wells Fargo introduced its fixed-rate option on most of its student loan products in May to offer borrower the security of knowing what payments will be each month. Variable rates are continue being offered, and usually at lower starting rates than f...[more]
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Tags: Wells Fargo Reduces Fixed Rates Student Loans Percent Rate Lower UBS
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