Consolidating multiple credit accounts into one new loan with a single payment may help you lower your overall monthly expenses, increase your cash flow, and eliminate the stress of multiple monthly payments.

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Details Borrowers can borrow up to $120,000 for the consolidation loan.

However, the lifetime limit for the loan combined with all other education-related debt is $250,000.

Individuals can also receive an extra 0.25-percent rate reduction for enrolling in automatic payments. Graduates with private student loans are the best fit for a Wells Fargo's loan consolidation. Consolidating your student loans can lower your monthly payment and simplify the paying process.

Wells Fargo Student Loan Consolidation Reviews Most Wells Fargo reviews focus on the fact that the big bank does not offer deferment options like its competitors; however, borrowers do not find this to be much of an issue but find the discounts offered very enticing.

Repayment of the loan begins immediately after consolidation has been approved.

Therefore, if the borrower is still a student with loans that do not require repayment until after graduation, then they should wait until graduation before enrolling in the Wells Fargo consolidation loan to save money.

Depending on your financial need, you qualify for subsidized or unsubsidized loans. Federal Stafford Loans can be used for tuition and other eligible expenses.

The amount you can borrow varies, based on: Parents of dependent students can take out a federal PLUS Loan for parents.

The schools to which you've been accepted will use that information to send your award letters.

The federal loans described on this page are all guaranteed by the Federal Government. Ford Federal Direct Loan Program, which means students or parents borrow the money directly from the DOE. The federal Stafford Loan is one of the most affordable federal student loans and most students qualify for it.

Wells Fargo is the most notable of big banks that will consolidate your student loans.