Private Student Loan Amount and Repayment Periods
The student loan amount for undergraduate students has a maximum of $10,000 and has a maximum of a 15 year repayment period. The career/community loan amount is up to $10,000 and the repayment period given in 12 years. Graduate student loans given are up to a maximum of $10,000 also with a repayment period of 15 years and you will have a 6 months grace period after graduation before you
are required to start making payments. Health and Professional student loans also get the standard $10,000 but the repayment period of 20 years is given for allopathic, osteopathic,optometry,podiatry and veterinary medicine ;otherwise its 15 years for other approved health and professional studies programmes. Repayment can be made soon after getting a loan but most repayment options can be differed to 6 months after graduation. Especially if you have bad credit and are applying for the loan,you should try to get a cosigner, this usually improves the chances of you getting your loan. sometimes, having a cosigner, can even reduce the interest rate the bank requires you to pay on the loan also.
Eligibility For Well Fargo Private Student loan
Undergraduate/graduate students should be attending schools which has a degree or certificate program or for some health and professional studies you should be in a program which you are seeking to obtain you license.You can check with the bank to see if your program of choice is eligible for one of their private student loans. You aso need to be a US citizen national or permanent resident alien without conditions. International Students can also get a loan but also need an eligible cosigner.
