Wells Fargo Student Loan Credit Score Requirement

The minimum private loan you can.

Wells fargo student loan credit score requirement.

To qualify for a wells fargo student loan you ll need to have existing wells fargo student loans. But as seems to be the case with many wells fargo cards this option has multiple reviews reporting being approved with credit scores between 600 and 700 a low ish credit score may not even be a hurdle for a five figure credit limit as evidenced by this reviewer s report of getting a 15 000 credit limit with mid 600 scores. The 3 digit score sometimes referred to as a fico score typically ranges from 300 850. Aside from the consolidation loan wells fargo s student loans have a minimum loan amount of 1 000.

Your fico scores you have more than one are based on the data generated from your credit reports at the three major credit bureaus experian transunion and equifax each of your fico scores is a three digit number summarizing your credit risk that predicts how likely you. To understand how scores can vary see how to understand credit scores. Wells fargo one of the nation s largest originators of loans insured by the federal housing administration announced it is tightening its credit score requirements for borrowers looking to finance a home through the fha program. Wells fargo private student loans are subject to credit qualification completion of a loan application consumer credit agreement verification of application information and if applicable a self certification form the school s certification of loan amount and student s enrollment at a wells fargo participating school.

Existing good credit customers and non customers with excellent credit a low debt to income ratio and high income. Wells fargo credit score standards. Fico scores are the most widely used credit scores and are used in over 90 of u s. Each of the 3 credit reporting agencies use different scoring systems so the score you receive from each agency may differ.

However wells fargo also has aggregate loan limits for borrowers total education related. Wells fargo private student loans are subject to credit qualification completion of a loan application and consumer credit agreement verification of application information and if applicable a self certification form the school s certification of loan amount and the student s enrollment at a wells fargo participating school. You ll also need to meet credit and underwriting requirements. Your maximum loan amount may be your cost of attendance including tuition fees rent books and other necessary supplies minus other financial aid.

Students are not required to make payments while in school. For the wells fargo student loan for parents and the. Repayment begins 6 months after you graduate or leave school.