SAN FRANCISCO--(EON: Enhanced Online News)--Wells Fargo (NYSE: WFC) and its private student lending division recently launched the “Five Steps to Financial Aid” video series to educate students and their families on ways to pay for college.
“Students need to explore all funding options from all sources in order to make careful comparisons among their choices and borrow only what they need.”
Since posting on the Internet in September, the video series has generated more than 1.1 million combined views on YouTube.
The light-hearted series engages audiences through a fictional financial advisor character, Mr. Fellows, who guides viewers on the critical steps necessary to pay for a college education. The tutorial also includes tips for identifying other financing options should there be a funding gap between the cost of college and financing that has already been secured by the student.
“Not enough families have a plan in place on how to pay for college before enrollment,” said John Rasmussen, head of Education Financial Services at Wells Fargo. “Our business is focused on developing programs and informational resources to educate students on how to cover the full cost of attending college. This series helps students and parents manage what can sometimes be a cumbersome and confusing process. As a private student lender, we are here to help fill the widening gap between the cost of college and what funds may be available from grants, scholarships, subsidized, and non-subsidized federal loans. At the same time, it’s important to position students and their families for success.”
Wells Fargo’s Five Steps to Financial Aid video series calls on students to:
1) Complete the FAFSA
2) Estimate total cost and financial aid
3) Determine additional expenses
4) Plan to cover additional expenses
5) Know deadlines and compare options
In addition to the Five Steps to Financial Aid video series, Wells Fargo also offers students a free private student loan calculator, information on banking, credit, money management, financial assistance and financial matters in connection with post-secondary education through its CollegeSTEPS® program.
“In addition to financing a home and planning for retirement, paying for higher education is a significant undertaking and sizeable expense for customers and their families,” said Rasmussen. “Students need to explore all funding options from all sources in order to make careful comparisons among their choices and borrow only what they need.”
About Education Financial Services
Wells Fargo Education Financial Services has been in the student lending business since 1968 and currently serves more than 1.9 million student, parent and family customers in all 50 states. We provide private student loans directly to consumers, through the Internet and at more than 6,000 Wells Fargo banking stores to help customers affordably finance their education. Wells Fargo Education Financial Services also provides customers with tools to help them succeed financially while in school and prepare them for when they finish college. As part of the organization’s commitment to education, in 2012, Wells Fargo’s community investments included $75.7 million to 8,000 educational programs and schools around the United States. Through the Wells Fargo Foundation, we partner with nonprofit organizations and stakeholders to strengthen our goal of providing high quality assistance to those individuals who are working to achieve their educational dreams. Learn more about Wells Fargo Education Financial Services.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2013 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at blogs.wellsfargo.com.