Wells Fargo Student Loans

    Overall Satisfaction Rating
    1.13/5

    Based on 69 ratings out of 103 reviews

    • 5 stars2
      3%
    • 4 stars0
      0%
    • 3 stars0
      0%
    • 2 stars1
      1%
    • 1 stars66
      96%

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Consumer Complaints & Reviews

If I could give these awful excuses of human beings zero stars, I certainly would because they're all horrible. I've spoken to different customer service people for over a year now and they're all just no help. Seriously, absolutely nobody in this company cares about the lives or well-being of others. I am convinced that if they saw someone set ablaze on the street they would do nothing to help if they didn't get their money. Not to mention the fact that they don't even offer any kind of "payment assistance".

Most banks will work with you to come up with a payment that suits you if you're having a difficult financial period, but not these jerks. They tell you they have a payment assistance team and someone will help you out, but they never do. Not once. I struggled for six months to get a loan modification and after all the hell they put me through, they STILL rejected it. They are awful. That entire institution should be shut down and the people working for that company should be punished for how unbelievably rude and unhelpful they are to customers. There's a reason there's a website that is dedicated to complaining about these people - they are the scum of the Earth.

Never EVER do business with these people. PS: Isaac on the payment assistance team is the absolute worst. I love that whenever you call and ask for help they just give you the standard "unfortunately there is nothing we can do" crap. Awful. I could go on forever about how much I despise them and I'll spend the rest of my days making sure nobody else I know ever does business with them.

I cosigned for my daughter's student loans so she could attend college. She struggled with depression and had to leave before she completed school. She obtained a job as a hostess and was paying her student loans every month until she lost her job in March of 2016. We applied for a loan consolidation because she had separate loans through them and couldn't afford the payments. They denied it saying we needed yet another person to cosign in order to get the consolidation with lower payments. She called several times asking for help and they refused; saying she had to bring her loan current before they could offer any help.

After three months of not being able to afford payments, I called and asked for help and they denied us a loan modification saying I could afford to make the payments if my daughter couldn't. I explained that I was a single, widowed mother of four children; one of whom was going into his 2nd year of college and one who is autistic and I couldn't afford the higher payments. We asked if the payments could be reduced by $40 and were told it was a legal binding document and they couldn't change anything. In two months, my credit score dropped 102 points because they refused to help. Don't ever use Wells Fargo.

I borrowed money from this company. Was paying on the loan way more than required. Went through a divorce. My ex-husband stopped paying on this loan without me knowing. So they never contacted me and let me know this. They just took all the extra money we paid on this loan and stretched it out over the next year or longer. When all that ran out and it became past due, then they decided to contact me. I found out this loan had accrued ungodly interest. I had to pay all that back. I just decided it was easier to pay this loan back. I just want to get the word out how they conduct business. Borrowers beware of how they get you on Interest. They could not get my address right either and I never received bills on time from them which of course caused more interest to accrue. Please think long and hard before getting a loan from these people.

I co-signed for my grandson's student loan several years ago. In March 2015, I caught up his back payments and started paying on time in order to get a co-signer release. In March 2016 they raised payment to 292.66, I paid them $290. And because of the $2.66 difference, I have to start all over with the 48 on time payments even though I paid an extra $4.60 a month on account for 10 months. AND they charged $28 late fee for being $2.66 short. THEY SUCK?

My son has a loan and finished his schooling and was working in his field. May 11th he was in a terrible motorcycle accident, broke his neck, permanent spinal cord injury and memory loss. I called to see what could be done to help him and was told "sorry" and now the bill will fall on me because I cosigned. I too have Crohn's and can't pay, so I guess it's off to jail for me. They are heartless.

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People do not take student loans with this bank. Better to stay with the federal. It is a scam, wolf in sheep clothing. You have been warned. I took out a loan because I was considered an unclassified graduate student for 1 year before I was accepted into my main program (federal loans do not cover unclassified). My loan now I was told is really 3 loans. I asked multiple times for them to send me hard copies via the United States postal service (i.e. the mail box). They will send me 2 bills IN The Same Envelope with the same account number on both but with 2 different amounts owe. There is no number on the form to show which loan is being paid.

I have called several times and asked for the bills to list which loan I am paying for. They told me they do not need to because the money gets divided among all loans. I asked to consolidate the loan in order to make this easier. They told me that even though I did not need a cosigner to take out the loan I would need a cosigner to consolidate the loan. Also, I assumed that if I needed to speak to a human in person about my loan I could drive to a Wells Fargo bank in my town and talk to someone there, but I found out that the regular banks in your town will not talk to you. They send you to the online website or phone system, they won't even help you in a brick and mortar bank. It's a scam. People stay away... You have been warned.

Recently, Wall Street Journal reported the following: Wells Fargo Investigated by U.S. federal government CFPB over Student Loan Servicing. I am one of such victims of Wells Fargo Bank's illegal practices. I noticed some overcharges to my student loan by Wells Fargo after I paid off my student loan in May of 2015. After my several times of requests during several months of 2015, Wells Fargo Student Loan Department refused to provide me the legal documents and explanations that support the student loan interests collected from me by Wells Fargo Bank. So this is a Big Warning for those who are thinking to get any loan from Wells Fargo. Here, I am demanding again Wells Fargo to provide me the above info soon! Wells Fargo CEO, I will take all legal measures to get the above info owed to me!

I graduated in 2012 and have since been repaying my loans. Over the course of the past 3 years, they have been the most difficult and incompetent people to work with. I normally pay my bill online and accidentally double clicked the "pay bill" button causing two months worth of my student loan bills to be deducted from my bank account. Despite being a customer with them for 3 years and never ever being late on a payment, they REFUSED to apply the second payment to the next month.

Since they wouldn't use my second October payment towards November, I requested a refund. Even though I pay with my bank account, they would not deposit the money back into my bank. They stated I would have to wait for a paper check in the mail which would take a maximum of 21 days. Twenty-eight days later, still no check. I called this morning and was told it was just sent out yesterday and I'd have to wait another 7-10 business days for it to arrive in the mail. By that time, my November payment date will have come and gone. They claim to work with their customers, however, I tried to delay my payment by one week, ONE time, and they refused to work with me or note it to my account so that my co-signer wouldn't receive harassing phone calls.

It should be noted, I have a second federal student loan. And every time I call to pay, they are SO accommodating, always sure to make me aware of any offers relevant to my account, and clearly explain all answers to any questions I may have. MUCH more "human" as opposed to reading from a ridiculous, obsolete, and useless set of guidelines like Wells Fargo does. I'd honestly rather have taken a semester to a year off to save money and pay up front rather than continue my education if it meant I didn't have to work with Wells Fargo. Their system is SERIOUSLY flawed and I wish I had known this before taking out a loan for $30,000+. Buyer beware.

So I have decent credit, no outstanding debts, and I was wanting to go back to school after a 2 year break. Of course, that meant I needed to apply for a loan. Went with Wells Fargo since they are a massive lender company and thought that would mean great customer service willing to allow as many applicants as they felt were financially responsible to take out a loan with them. A week later, I get a letter in the mail that says my loan was denied for very vague reasons. At the bottom of the paper it said if I wanted more information as to why that decision was made, I should call them. So, I did.

When I finally got to talk to an actual person, the representative was incredibly unhelpful. I asked her specifically what the problems were and she read word for word the exact same vague information that was given to me on the paper. I kindly asked her to clarify, and she just kept saying 'we're unable to accept your application at this time' like a pull-string puppet. Gave no more information than that. She sounded like I was inconveniencing her just for calling or something because the whole time she had this snarky attitude. And by whole time, I mean the barely 2 minute 'conversation' (if you want to call it that) I had with her before I realized I was going to get nowhere with her. I think I've had more helpful conversations with brick walls than that person.

Now, I get loan companies turn down people all the time and that's not what my complaint is about. Sure, it's not like they are lawfully obliged to give any info whatsoever as to why they turned you down either. But when they put on their own letters they send to denied applicants that they are willing to offer a more thorough explanation as to why you got denied and then give out nothing more over the phone, that got me really frustrated. Basically, from the attitude that I got from Wells Fargo's customer service, I've come to a conclusion that if you get denied a loan from them, don't even bother trying to call them up and see what you can work out with them because once you're denied they pretty much act like they want nothing to do with you. So don't waste your time.

Around February of 2014 which is income tax season, Wells Fargo's Education department removed $4,000.00 dollars from my checking account without my knowledge, I had fees, services and overdrafts of $900 dollars. I called the Bank and they informed that the Education Department was responsible for this. I contacted the Education Department and asked them why did they take this amount out of my account for the student loan, when I was already paying them and I was up to date on my account and I did not give them permission to do this.

I was told by one the representatives that they had the right to do this because I owed them money on my student loan. They also went a step further to tell me that for me to be current on everything that I would need to pay them $800 a month for my student loan. The original promissory note is for $365 a month. I was also told that if I wanted my debt with my student loan cleared that if I paid them $16,000 dollars they would waive the other $9,000 dollars and if I couldn't do that I would have to give them $800 dollars a month. Once I have paid them off for my student loan and credit card I will never bank with or borrowing any money from this company. They are horrible. They are not willing to work with you and are very rude.

I've been borrowing and paying off loans since the '70's. The education loan I just paid off with Wells Fargo was by far the worst banking experience I've ever had. I never imagined a bank could be so systematically incompetent. No kidding, this experience was horrible... beyond imagination even 40 years ago, just plain unacceptable now. First, no statements, ever. Not by e or snail mail, despite my multiple requests for same. Their response today: "you are on auto-pay so you were never sent a statement." Yet eight different reps, on eight different calls over the past two years told me on the phone that I would.

Second, robotic and non-responsive help desk folks, and their supervisors. Last, a clogged phone system that makes you wait forever. The odd thing is that I had an automobile loan with WF at the same time and I never had a hiccup with them. Maybe the education loan services dept should be dissolved and reconstituted by dealer services? Either way, I'm done with WF and I will never recommend it to another person.

I co-signed for my daughters Wells Fargo school loans. When she finished nursing school she was told she had to pay 780.00 a month on her loans. She could not find a job and was able to put the loan in forbearance for six months. At six months she tried to get the interest rate dropped on the loans but was told she did not make enough money and her co-signer made too much money so she did not qualify. She was then told she could apply for a consolidation loan which she did. She was denied the loan because of her credit rating. I called the bank and told them I would co-sign for the new loan. I was told it doesn't work that way and my daughter would have to be the sole signer. How stupid is that, we are in a no win situation. My daughter can swing a loan amount around 450.00 which is what she was quoted if either loan was approved. They would not work with me, this bank should be investigated for fraud.

I called Wells Fargo today to ask for information on repayment options to help lower my $800 monthly student loan payments and I was immediately disrespected for doing so. I asked the female representative about the student loan modification program and she instantly became disrespectful and stated that I should have been more of an adult and known what I was getting into when I applied for College. I was instantly shocked at her attitude and was curious as to why she avoided my question. She continued to disrespect me and state that I was immature and that I should of known that my monthly payments would be a minimum of $800. She even went to the length to insult my Co-Signers name! She made it seem like everything was my fault while offering NO HELP nor ANY ADVICE, only insult after insult! She did not care what my situation was or anything. She just wanted money and that was it.

After receiving such disrespect and insult, she ended the phone conversation by hanging up on me and only demanding money. If only I would've known then what I do now, I WOULD OF NEVER WORKED WITH WELLS FARGO AT ALL! My point is that I know that I took out a loan for college. Is that wrong to actually want a better future for yourself? I was not born into a wealthy family or a wealthy situation. Growing up I was constantly told that college will open doors and once I seen an opportunity to better my life, I took it when I was 17 years old. I just wanted to have new opportunities. The female representative made me feel worthless and that all my decisions were horrible ones. I am 100% willing to repay my loans but I cannot pay over $800 a month. To make it worse, they are not willing to work with me or help.

The strange thing is to get a loan I needed a co-signer. To consolidate my loans into one and hopefully reduce payments, my co-signer needs a co-signer... What!? So now I'm basically stuck with $100 in additional interests making my monthly payments almost $1,000. I don't know what else to do besides keep doing interviews and just hope I finally get hired. I'm pretty much doomed right now... My advice for anyone is to never get involved with Wells Fargo. They give you the runaround and are never willing to help. If you need a loan to go to college, avoid this bank at all costs!!!

I have been a customer of their student loan servicing for over 13 years. Their online payment system started getting glitchy where I had to start using phone service to make payments. However, one payment wasn't recorded and they reported me to the credit bureau and refused to work with me on reversing the negative report. They have no business advertising how they help or serve consumers when a simple request for a one time reversal I have never asked for before could not even be considered. Very unfair!!! I have a clean credit history and this is the only blemish due to their own glitchy online payment systems. Still hoping to work with someone else but the first supervisor I spoke to was very biased and narrow-minded, and made me feel like I was just a number among their many customers.

I sent a large check to Wells Fargo to pay off a student loan. They claim they returned the check because the bank would not pay it, yet they cashed the check and I have proof from my bank that they cashed it, two days after they said they returned it and the money is gone! Meanwhile, they also took a student loan payment out of my checking account, when the loan has been paid in full. I have spoken with my bank three times today and they assure me Wells Fargo cashed the check and they provided a copy of the canceled check. Wells Fargo says it will take 5-10 business days to research the matter and meanwhile they expect I will keep making loan payments! WHAT?!!? I have reported them to the local BBB and pray this can be resolved quickly!

My husband and I both had 2 personal student loans from Wells Fargo. 1 was for $8,000 another for $15,000. Honestly the reviews I see is from people who are not making payments. If you pay on time you're fine. The $8,000 loans payment was $93 a month and the $15,000 was $197. My husband's in the military. Since this isn't a federal loan I didn't know they do the service member relief act!

I slipped up one day when they asked for my social and I have my husband's instead. I said "Oops sorry. You know the military they always want the soldier's social. Haha." They voluntarily said, "Wait. Your husband's military? You qualify for the relief act. We support our military and their families!" They also retro pay back interest from his start of active duty service. Which was thousands of dollars in interest since it had been 5 years worth! Never had anything to say negative with this company even before this, they're nice and easy. Just pay like you're suppose to. They went above and beyond!

I have $49,000 in student loans with Wells Fargo. I am not working at the moment and they will not help me. They will not help reduce my payments, all they do is call and harass me for full payment. When I tell them I do not have the money, they say "we're sorry but we need the money now". They are not willing to work with me anyway.

I cosigned 3 separate notes for my son to help with his college fees. I haven't found anyone at Wells Fargo that can or will explain how they calculate interested and other fees. My son got behind on payments, which of course nailed my credit. And when I tried to intervene and take care of the mess, I got little cooperation from Wells Fargo. Wells Fargo has no interest in helping students... they simply are looking to take advantage of naive students who take loans to parents to cosign. My advice is avoid Wells Faro at all cost.

I have been dealing with the payment assistance team since June 2014. They deferred my student loan because I was on maternity leave and my father in law had passed away. Here I am without a job and have a newborn and they won't lower my payment because my debt to income ratio is too high? OBVIOUSLY THIS IS WHY I AM ASKING FOR HELP! I jumped through hoops to get documentation for them and am just asking for a lower more manageable payment. I am a single mom, no job and have a $400 monthly payment. I am borrowing money from people to pay it each month. IT IS RIDICULOUS that they can't help me!

I have one of my student loans through Wells Fargo Education Financial Services (EFS). I have had the loan for about 10 years and made some payments, but then returned to school so the loans went into a deferment period. I am currently coming up on the end of the deferment period where my loans will enter repayment. I have been in contact with Wells Fargo to look at option for lowering my monthly payment. I understand that my student loans are my responsibility to repay, but for a large bank to not have ANY options for repayment is ridiculous.

I started this process over a month ago and have spoken with at least 3 different people in three different departments. One of which is my "Personal Student Loan Consultant" who is there to help with my account. Upon speaking to him I was told that standard repayment is the only option, but I can speak to someone on the servicing team. I have to ask if there are no options why would I speak to someone in another department when he is my "Personal Loan consultant"?

Over the past 10 years I have had nothing but issues with Wells Fargo Student Loans. I have been sent late notices when my loan is not late, had payments misapplied to my loans, and now this run around. It seems to me that no one at Wells Fargo knows what the other departments are doing and so the consumer is forced to re-explain time and again what the situation is and what they are needing help with. I was told that consolidation was an option, but needed a cosigner.

I'm sorry but not everyone has cosigner lined up around the block, sometimes it just is not an option. I was also told that consolidation may decrease my interest rate, but it might also raise it. Why would I go through with something that may make my payment higher when I am looking to lower it? There are so many loan providers that are willing to work with their patrons and make the process of going to school not seem like such an overwhelming burden...Wells Fargo is not one of these. Avoid student loans from Wells Fargo at all costs! It is not worth it!

I am a co-signer for my daughter. I received a late notice from Wells Fargo, but had never received "on time" notices. I called them but they did not want to talk to me. I had to have my daughter call them to talk to me. I thought I would be able to work out the issues, but Wells Fargo is not interested in work out any issue, they just like to charge late fees.

I told one very nasty customer service representative, that if he would ever listen to me, they could get payments. I asked them to remove the late fees as they never sent the bill to me, but they refused. I told them I would make payments if they would send me the bills on time, they refused. I had one bill that had less than $100 due, I paid $500, but they did not credit that account, they combined all the accounts. Now they want just shy of $30,000 or they plan to send me to collections and ruin my credit (their words). I am to the point of telling them let's go. I would never offer this business to anyone as a suggestion to use, only to STAY FAR AWAY FROM WELLS FARGO!

I originally obtained student loans from Plato Student Loans for my oldest child and had no problems at all. They sold my loans to Wells Fargo Education Financial Services, and at first I had no problems, so I got my other daughters student loans from Wells Fargo, also. All of the loans were set up on the deferment option as my girls were taking the loans over as soon as they found jobs. Since then, I've had nothing but problems. They sent statements out late and the due dates were 3 days from date I received it. This, of course, caused all of my payments to be late, because according to one of their CRS, all payments took 10 days from the date Wells Fargo received it to be credited to my account.

When I called about this, I was told "We don't have to send you a statement, and you are still responsible for making payments." I asked to speak to a Supervisor, told him what I was told, and he said that was ridiculous. Of course they have to send statements since the monthly payments change according to banking rates. He said he'd make sure the statements were sent out in time and would check on the 10 delay. I asked about consolidating the accounts into one account for each girl.

I was told that wasn't possible since it was against their policy. I get calls 3 to 5 times a day even though they've been told repeatedly that I am not available until after 5:30 pm, but they continue to call all days, and most of the time it's a hang up call. When they do answer they say that the account is late. They never know what account and have to look it up. I tell them that that account is my daughters' and to call her. When I question that it's not late, they said I can check it online at www.eloansecure.com. When I try this, I receive the following message, "The requested object does not exist on this server. The link you followed is either outdated, inaccurate, or the server has been instructed not to let you have it."

Since I have more than one account, I tried to save postage and put all payments with the check stapled to it in one envelope. They credit all payments to one account and mark the others late. My daughter does online payments, and they still mis-credit the payments. They want access to auto payments, then they take the payment out whenever they want, whether pay check has been deposited or not. YOU CANNOT WIN WITH THIS COMPANY! I have written to the main office and I get the run around and false information and excuses. How can a company get away with this. I have heard no good reviews, only complaints. Doesn't this tell you something needs to be done about this unethical loan company.

I am a co signer. I was behind on May payment so I made the payment late and tried to get ahead so I made the payment for June in late May. Then person I cosigned for fell behind so in August we I made payment for August and September in one payment. In September I get a late notice and the person explained that just because I make 2 separate payments or combine payments they don't apply it that way. I talked to John, Chris, christa-supervisor and Jeannie (who didn't note my account) and everyone told me a different LIE. They kept saying we missed the June payment and when I explained the 2 payments in May Jeannie just came out and admitted she was confused and would have someone call me.

Well I get a call thinking they were going to have it straightened out only to be told they were calling because payment was 19 days late. This person tries to tell me they noted the account that I was late and I explained I ne Ed got a call back as requested. She was a ** so I finally got tired of going in circles because I had done everything they told me and I told her I don't trust anything anyone from Wells Fargo has to say and hung up.

For my private loans, Wells Fargo advertised a .5% interest rate reduction after 48 on-time payments. After 5 years, I discovered that Wells Fargo had failed to apply this benefit to my account. I called and fought with a customer representative who eventually admitted that this was a mistake on Wells Fargo's part. The benefit was applied to one of my loans, but not the second loan. I called back, and I was told that I had been late on an unspecified payment for this loan, but not the other. This is odd since they are both paid together. Long story short, in setting up my auto-pay, WF charged me twice for my very first payment. When I pointed out that this was not my mistake, Wells Fargo claimed that they no longer had detailed records of this transaction, that a summary record of all of my transactions listed this is late, and that they could not accept my copy of their own billing statement from 5 years ago. Even worse, Wells Fargo took away the benefit on my first loan a year after awarding it to me without any notice to me. I would avoid Wells Fargo like the plague. They will not honor their agreements.

In August, my daughter submitted an online loan application for her sophomore year. She provided a credit worthy co signer. However still requested to provide a joint co signer? Due to difficulty in obtaining a "joint co signer" she was unable to secure a loan. What constitutes such strict guidelines? I question if Wells Fargo practices are fair?

I took out a private student loan several years ago that was sold to Wells Fargo about two years ago. They have been nothing but trouble since then. I have been in school every semester since then and every semester I send WF the in-school deferment form for my loan. EVERY SEMESTER it takes WF months to process the deferment; in the meantime, they make weekly, sometimes daily, harassing calls to get payment on the loan to me and my cosigner! Even when I tell them I've submitted the in-school deferment, they check my account and agree that yes, they see that I've submitted the deferment, but that it will take 30-45 days to process it, and that it "is their policy" to continue the harassing-collections-like calls to me and my cosigner!! Even though they know I am in school!

It is very frustrating, and their "policy" on this is absolutely unreasonable and out of line! I will NEVER take out another student loan with WF - or any other loan, for that matter. And I am posting my story on every other education loan website I can find in hopes of warning others. If you don't want to be unfairly harassed then don't take out any loans with Wells Fargo!

Wells Fargo EFS has to be the worst bank to deal with for Educational Financial Services. They do not stand behind what THEIR CSRs say on the "recorded line". When you talk to a supervisor they will not provide their last name in case you need to follow up or dispute anything. They reported to the credit reporting agencies I was 30 days late when I was in forbearance and it went against my credit score. They will not correct it. To get this corrected I have to have my school send in information again and they say it is taking 30-45 days for their processing area to process documentation. Again this will go against my credit. I get calls weekly from them and every time I get different information.

I defaulted on my student loan in 2012 due to losing my job. Once I found employment I contacted Wells Fargo to pay my debt. I have been paying by automatic allotment since April of 2012 but Wells Fargo still reports to the credit bureaus that I'm in default... I've tried talking to reps and even emailed the CEO but nothing. I'm in the process of complains to consumer protection bureau.

Wells Fargo student loans messed up my due date, saying I was due August 11 but I was in school until August 7. I have been calling and talking to their customer service representatives every ten to twenty days since end of July, so three months now. Every time I call, the representatives are very nice, but they don't help. They tell me to send in paper work, so I do, then call again just to hear I need to send in more paper work. Meanwhile, my credit score has been affected and so has my co signer's. Wells Fargo has not contacted me about this. If they do call, they don't leave a message, so if my phone is off, I wouldn't know they called. I have spent several hours on the phone with them trying to get this taken care of. I am going to call again tomorrow and I will not get off the phone until this is changed.

So in 2010 I went to school and had to get a loan really quickly. WELLS FARGO was willing to give me a loan of 70,000$ to cover the entire cost of schooling and living expenses. They gave me a rate of 8.25% or something close to that. I was under the impression that my payments were going to be about 500$ because that's what I was told, I didn't bother to do the math. So 6 months after graduation I had to start paying off the loan, mind you I didn't have a job in the field I went to school for. Anyways I started making payments but they weren't 500$ they were more like 800$. I couldn't pay the 800$ and told them this. So I paid them 500$ which only went to INTEREST! After about 2 or 3 months of doing this I decided to go back to school so I could get a deferment, it worked and I've been in and out of deferments and hardships since 2010 because they want me to pay outrageous amounts. Not only did I hardly ever get a billing statement from them but I also got it late.

My current payments are up to 927$ A MONTH! I might as well be paying a mortgage! I've told them over and over again I don't have the money and that I need them to work with me on it and they won't do anything. They keep telling me I need to be up to date on payments, which means they want 5000$ from me. If I can't pay the 927$ what makes them think I can pay 5000! I was unemployed since january of this year which is why my payments weren't made and I told them this but apparently not making an income isn't a good reason for not paying, and it's not like I wasn't looking for a job. The job market just sucks where I am currently living.

Anyways another thing is I've been trying since JANUARY to get them to reduce my interest rate to 6% because my husband is in the military. They told me that they would reduce it to 6% and remove the interest accrued and late fees accrued back dating to when my husband and I were married in november of 2013. They told me all I had to do was send them a copy of his orders. I did this THREE times and each time they said they didn't get them or they would ask me what number I sent it to. FINALLY they got the orders and they were still coming after me for the money, saying it was going to take a few MONTHS for them to update it to 6%. Meanwhile my husband and I scrounged together 3 payments of 927$. Apparently one of them never went through. Not sure why. Anyways needless to say I still haven't gotten my interest lowered to 6% and in JUNE they called me and told me they were putting me in a MILITARY DEFERMENT so that I could get caught up and so they could get the 6% in order.

They also said because of this I wouldn't have to pay till SEPTEMBER. So that's what I was going with, so I didn't continue to make the 927$ payment. In AUGUST I got a phone call from WELLS FARGO saying the DEFAULTED my loan! I told them that was BS because I was on a deferment and they said the woman that I spoke to gave me false information and I owe them 90,000$ upfront! I told them this wasn't my fault. Asked them to reverse it and they refused. So I reported them with the Consumer Protection Bureau. They sent a response back saying that they would reverse the charge off on my loan and they would apply the 6%. I was happy with this.

The letter also said they would be sending me a bill with my due date, so I waited to pay them, then until I got ANOTHER phone call from them just a few weeks later telling me I owe them 5000$ now in order to reverse the charge off even though it said NOTHING about that in the letter. So now they are REFUSING again to reverse it, saying it's not in my best interest, but I could settle with them for 60,000$ but I'd have to pay that upfront... I don't even know what to do with this company anymore. I've tried everything. Worst company ever.

Expert Review

Barbara FriedbergPersonal Finance Contributing Editor

Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.    More about Barbara→

Wells Fargo has been in the student loan business for over 20 years. They offer private loans to students to help cover the costs of attending undergraduate and graduate school.

  • Services: Wells Fargo offers private undergraduate, graduate and professional school loans for students and their families. The company also provides debt consolidation for student loans.
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  • Grace period: The firm offers a grace period while students are enrolled in school and doesn't require loan repayments until six months after leaving school.
  • Fees: Wells Fargo’s only fees are late fees. The statement explains when this fee is levied.
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  • Discounts: Interest rate discounts are available for a variety of consumers and account holders.
  • Best for Students who don't qualify for scholarships, families looking for private loans to assist with educational expenses, undergraduate and graduate students.

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Wells Fargo Student Loans Profile

Basic Information

Company Name:
Wells Fargo
Address
420 Montgomery Street
San Francisco, CA 94104
United States
Year Founded:
1852
Website:
http://www.wellsfargo.com/