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Is Wells Fargo a good student loan?

I have a qestion about a personal student loan, we got approved for a student loan through wells fargo but they told us they had to send it?

  • to the school and it would be based off "need." we didnt need it for school itself but for transportation insurance and stuff like that. what all do schoola consider a ...show more

  • Answer:

    Each school calculates an estimated cost of attendance. This number takes everything associated with being a student into account including living expenses, transportation costs, insurance, clothing, entertainment, etc. You cannot receive more money in student loans than this amount calculated by the school. So, the school will take their estimated cost of attendance, subtract any financial aid you're already receiving (scholarships, pell grants, federal loans) and then they will certify a private loan for whatever is left.

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like altaira said this will be based on your schools published cost of attendance paying for a car, paying for car insurance, etc... are not considered "educational expenses" & with this are not "needs" for your education paying for gas (or bus fare) to get to-from school is considered a "need" look at your existing financial aid & compare that the published cost of attendance if there is a gap in the financial aid you have been offered & the total cost of attendance, then you may take up to that amount in private student loans

Achelios

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