Wells Fargo Student Loans
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Wells Fargo Student Loans

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Last updated: Nov. 28, 2017

118 Wells Fargo Student Loans Consumer Reviews and Complaints

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Verified Reviewer
Original review: Nov. 28, 2017

We have had horrible experiences with this company. The customer service is horrible, they are not helpful in any way with issues concerning repayment options. They dont care if you cant pay the amount due. There is no flexibility with arranging payment arrangements if you need to. The agents are unprofessional to say the least. They also turned us into collections for past due balances which were not even due because the loan was on deferment at the time. It affected mine and my parents' credit score because they reported it to the credit agencies as late payments and there wasnt any payments owed! Completely unprofessional and obviously have no idea what they are doing.

I have several other student loans and they are happy to make arrangements when you need help. Wells Fargo is all or nothing. I would not recommend them to anyone! My parents have them for their mortgage and have never had any issue like what I am dealing with for the student Loan division of Wells Fargo, which is why we went through them. It's unbelievable to me that instead of getting something from you, they would rather take nothing and not get paid but they will call and call and call you and Your co-signers. Unbelievably the most unprofessional company I have dealt with and would highly recommend seeking other companies to deal with concerning student Loan borrowing.

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Verified Reviewer
Original review: Aug. 1, 2017

Even though I was making payments each month, Wells Fargo was charging me late fees for 1.5 years without notifying me of any issues. I was told that while my phone number was listed on my account, they didn't have permission to contact me directly. Someone from the executive office later provided me with a different version stating that Wells Fargo wasn't obligated to contact me. Ruining my credit could have been avoided with a simple phone call, but it appeared that these guys don't care about their customer's credit health. Worst bank I've ever dealt with!

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Verified Reviewer
Original review: July 11, 2017

If I could give them less than 1 star I would. Wells Fargo is the worst company I've ever had to deal with. They are the judge, the jury, and the executioner. I made a payment recently and following that payment enrolled in automatic bill pay. They "denied" my automatic bill pay request because they said it was overdue and sent a "secure" message to my Wells Fargo account - as if I check that account on a daily basis. Two months later, I noticed the charges weren't coming out of my account.

Thinking this was a simple error, I called them - after 45 minutes - I found out that they had denied it because at the time the automatic bill pay "request" was being processed, the payment I had made the day before hadn't yet processed. What's more, for this "error," they charged ME two late fees. They refused to waive them because they've waived 2 in the past - 2 separate mistakes they made - and in the end of the day they won't even assist me in setting up a new automatic bill pay... There is literally nothing they do in "customer support" other than explain the bank's actions, it's more like a PR team outsourced to India. Save yourself... stay far away from Wells Fargo.

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Verified Reviewer Verified Buyer
Original review: July 2, 2017

I would like to ask Why co-signers are being pursued first by Wells Fargo and the BORROWER isn't... when this student is working - regardless of who has the higher income that has nothing to do with it... Student should pay something even if it only $100 dollars a month... This is so unethical... We are looking for HELP... and answers. We are retired on fixed income, had to go back in the working world to pay this student debt... student gets off with flying colors from paying his debt... Wells Fargo has breach theirs contract is pursuing BORROWER, I guess is easier to pursue co-signers instead.

Verified Reviewer Verified Buyer
Original review: April 12, 2017

My husband cosigned on a student loan for my son. We paid off that loan. Months later we received correspondence from Wells Fargo stating we owed $2,000.00. This is where it gets interesting... My husband called and was told there was interest that wasn't paid... and that interest then became principal and then we were being charged interest on this interest that became principal. So now we have to inconvenience ourselves to show proof the loan was paid in full. This company is a crook and belongs in jail!

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Verified Reviewer
Original review: April 12, 2017

Wells Fargo is by far the worst bank to do business with. My husband and I have tried to consolidate my daughter's student loans and were denied. We had recently paid off half our outstanding credit so we could get a better rate and better payment than the $800 payment they were asking for. Ending up having daughter re-enroll in school and put loans on forbearance. Second time around she tried to consolidate and was denied unless she had a cosigner, same thing. Amazing part of this, when she got the loans we owned two houses and had double the debt, yet she was able to have us as co-signers. Tried to put in for hardship, was told have to wait till loans come due, waited till the required time then 64 fax pages later, mind you the same info needed for home purchase (I'm in real estate and know). We were again denied because we made too much money and could easily help her pay.

Really, between house payment, recent medical expenses and other 2 kids' students loans that we help on I don't think so. Called WF and complained there must be something else and their comment was try to consolidate, don't think so, not interested in another 64 fax pages again. The part I find truly amazing is the person at the other end of the line not only gets a salary but they get commission, isn't that a bunch of baloney or what? Not to mention the moment WF loans hit my husband's credit report that we just upped by paying down debt his credit score dropped 30 points.

This bank is right up there with Bank of America. Why should they help you out, when they can get a lot more interest from you? Daughter made first payment of $756 plus federal payment of $300 when she only brings in $32,000 a year and pays rent. Now she's going to do what many graduated college students do and enroll in school just to put loans back in forbearance and she'll pay whatever she wants. At least that better than being four out of the five student loans in default.

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Verified Reviewer
Original review: Feb. 24, 2017

This has been a nightmare since we found out the first time these loans were about to go into default. My husband co-signed two separate for his son to go to college in Washington. This does not count the other two loans co-signed through Sally Mae. When I started to gather information on all these loans to see what was going on, it was so hard to figure everything out. The co-signer's only right is sign on the dotted line and when/if the primary is late, we will send you a notice when the bill is about to go into default. You request a bill to be sent to the co-signer it's no, only the primary, you request the tax form so you can deduct the interest off of your taxes since you are the only one paying on the bills, nope, only primary. To top that they know the whole story that his son is hiding from all people he owes money to, which includes his father.

It took me to threaten these people more than once that we want copies of the final disclosure, etc. Took months to get that. I read every word and was able to con my way into getting a tuition statement from Digi Pen where his son went to school. So when reading the fine print it states education loan only, all other money is to be returned to the bank. So when I look through the tuition statement you can clearly see where Wells Fargo would deposit $10,000 into the school account and then just a few days later his son would get a $10,000 refund check, explain to me how that is education related? When I questioned them as to how it is their responsibility to have a self certification form signed by the primary on the loan to make sure they used all their federal grants, etc, so they do not borrow too much money. Nobody has ever showed me this form.

When I questions them about this they said it was the school and his son responsibility to take care of knowing if he needed the money for school or not, out of their hands. So we are talking almost $50,000 that was refunded to his son that was not even needed, you can clearly see on the tuition statement his federal grants and such covered all of this money. I've tried everything, to come up with co-signer release, in one year we paid $12,000 on all loans, which included two from Sally Mae, to get everything caught up, still can't get a bill in the mail, still can't get help, just phone calls my husbands work place, which is against the law, phone calls after 10pm at night, again I believe that is against the law.

The only reason we even found out his son did not pay one penny on these loans, ever, is because I ran the credit report because we were planning on buying a house, his credit is totally shot. Not only that, his debt is so high now and his credit is shot you can't get any kind of loan. You get late fees when things are not late, they make everything very sneaky in order for you to pay more and more. I got to the point when I would call in I would tape record the conversation due to the lies being told and I have even been hung up on a few times. There is no understanding and by law since his son is in hiding and not paying anything then everything falls on the co-signer, except sending bills, helping, talking to, or letting you file the interest on your taxes. Due to how his son has treated his Father and all the dead ends I hit and the lack of help and understanding from everyone involved I stopped paying the bill all together.

The only contact I can even have with his son is through and email account and then I have to contact someone else in the family to ask them to ask the little jerk to read it. Other than the fact that all that money spent to catch everything up and the lack of help and understanding, in one year it was like nothing was paid on the principal. Then in like July of last year I got on the online account that I had set up in his son's name since you know only the primary has access to these things as in contacting, or paying etc, it's a bunch of crap. I could not log on. So again, have to send an email to his son and tell him I could not pay the bill because I could not log on.

A few weeks later I get "oh I'm sorry I got a job and the only bank I could use was Wells Fargo so they must have linked things together because I had to make a password and such." So he changed everything around so I could get on and then I seen that the student loans were linked to his account, they had his phone number and address at this point. Well wouldn't you know he closed that bank account down so they could not take any of his money for the student loans, yet again Wells Fargo seen what was going on, they know the whole story, as long as they get their money they don't care but the issue is the primary knows he is screwing his Dad over, screwed our credit up and just totally destroyed his Father emotionally to the point he even lost his position at work.

It's been a long road and I decided that nobody is helping. I am filing a complaint and I stopped paying it all together. It is in default now, even after I pushed the limit and told his son "hey we just had to dump a bunch of money into our cars and don't have the money to get this caught up. You need to pay something and let me know what you pay so I can keep track how far behind," instead his withdrew all his money and account from that bank! So I guess garnishment is next step, I want to see how they work this one since the primary is always the one that gets all the info let him deal and I would think they have to come after him first?

Don't matter because we have put off getting married for two years now, due to this situation but his son had another baby and got married and I said screw that. We will be married in two weeks and then all my bills and student loans will be his obligation also so going into default was the only thing I could do because it didn't matter if you made the payments on time or not, still going to owe double or triple in the long run and we are pushing 50yrs old so I'm sure this loan will be around after we die and they can deal with his son directly.

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Verified Reviewer
Original review: Feb. 2, 2017

We took out two student loans on our daughter for her undergraduate degree. After graduation we received nothing from them about the payment being due. Shame on us. She went to law school and during this time we never received anything from them at all NOTHING! She graduated and they sent us a bill say we owed around $20,000 on the loan. It was late because our bank would not release the funds on a timely basis. So we paid a late fee. The second bill came due and I mailed it off three weeks before the due date. CONVENIENTLY that was also late. Two months go by and we hear nothing from them. Today we get a letter saying bill was due in January and it's now February however we never received a bill.

We called them to find out what was going on and were told even if you sent the check in by the due date you still owe daily interest. Therefore equating to never being able to pay it off. This is such a scam on consumers and the public at large. They said they sent notices to our daughter by email saying they were due but nothing to us in emails or in writing. I asked our daughter about this and it took her an hour to locate one of them because they had buried so DEEP in her emails that we needed a backhoe to dig it up. This is a clear practice of fraud and how can I dig deeper into the consumer's pocket. I will NEVER do business with them again nor would I recommend them to anyone else who has a pulse.

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Verified Reviewer
Original review: Jan. 18, 2017

Worst Bank and Student Loan Servicing Ever. I have 3 different student loans with Wells Fargo. I have made payments every month for last 15 years. Recently, I checked my credit report and noticed that WF had reported me delinquent. I called to inquire why as I have made all my payments. I was informed that because I often paid before a statement had been issued, that they applied the money to the previous month (thus resulting in a double payment for that month) and when I didn't pay until the next month I became delinquent despite paying them money. It created a snowball effect and now I have WF reporting me as having not paid on time when in fact, I paid early. Bad faith reporting of a false delinquency.

I called to try and resolve this dispute and asked "how is it that I am delinquent when I paid you early?" The response from a rather rude "executive" is that I cannot pay a bill before it is due. So I have paid late fees that were not warranted. And I have false delinquencies on my credit that never occurred. Horrible Company. Horrible Experience. WORST BANK EVER.

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Verified Reviewer
Original review: Jan. 9, 2017

Two years ago my son had two student loans, one was 9.25% and the second 6.74%. When I submitted a payment, I requested (in print along with the payment and a follow up phone call) most of the money to go toward the higher interest rate loan. Upon reviewing the next statement, they did exactly the opposite. When I called and asked why, they said that is their general practice. This past December I paid off my son's loans, and they screw you over the course of the loan and as you exit.

I went online and made a payment scheduled for December 8th, but prior to the withdrawal from the Wells Fargo checking account, my wife and I decided to payoff the loan in full on the 5th. I called in and was told the scheduled transfer on the 8th would be refunded due to the account paid in full on the 5th. I logged onto the account later in the month, the withdrawal was conducted but no deposit. I called in and asked when the money was to be deposited back, and was told the payment was required to pay the loans in full. They are thieves in suits, they have limited branch offices so you cannot look them in the damn eye and call them a crook!

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Verified Reviewer
Original review: Jan. 6, 2017

For 15 years I've been making my payments on a student loan on time. I did go through a hardship in 2009 where I had a few late payments beyond 30 days but for years they've told me they don't report lates until they go 60 days late so although I had the hardship the lates didn't show. Now all the sudden right when I'm at the end of paying off the student loan (they should be so lucky that I actually paid it) I've got a 30 day late. I paid the balance off in full as soon as I found out due to frustration, but I hate it when companies change the way they do business midstream. Because of this little stupid late all my credit lines on all my other credit cards have dropped and my scores have dropped by 30 points overnight.

For 15 years I received 6 to 8 calls from a dialer anytime I was even a little late and now all the sudden it stopped so I was unaware I was that behind. They told me that it was because my number hadn't been updated when it's the same number I've been using for 14 years. You become dependent on the dialer for the payments when you're late especially after 15 years of being hassled by it, and when it all of the sudden stopped I'm stuck with a late. Yes, it was my fault I was late, but I just wish there was something they could do considering I actually paid my debt off unlike a lot of folks, and paid it on time for 198 out of 199 payments. Wells Fargo is pretty much the only bank across the board I've had issues with regardless of the service or product.

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Verified Reviewer
Original review: Nov. 23, 2016

After randomly finding this website and reading several of the reviews, I feel a teensy bit better about my decision to go with Wells Fargo for my private loans. Still, taking out private student loans, and with WF, is my most regrettable decision to date. I have been struggling for years to make my two payments with WF. I've tried to consolidate twice, and each time I get some ridiculous reasoning for the denied application. The first time I was told I did not bring home enough income, that I would need to make at least $2000 a month. A month after landing my first teaching job, I called and tried to consolidate again. This time I was denied because of my high debt to income ratio.

Years later, when I took out an auto loan, I was approved for their lowest interest loan, thanks to my excellent credit and my LOW debt to income ratio. I had the same amount of debt as when I applied to consolidate, yet WF told me I had a high debt to income ratio. Something doesn't just smell fishy with this company. They ARE a bunch of rotten, stinking, bottom feeders. DO NOT take out a personal student loan with this company. They offer ZERO assistance with payments and they must rig the system to ensure you're denied any sort of consolidation or plan to make your payments doable. They must prefer that their customers default on their loans than actually providing an affordable method of repayment, thus ensuring they get the money back that they loaned.

Wells Fargo and it's affiliates are nothing short of criminals. Unless you want to live in crippling debt the rest of your life, look elsewhere. Talk to the financial aid department at your college; there are other options for paying for school. My only hope is that someday someone discovers WF really is doing something illegal and criminal charges are brought against them and the loans disappear. That, or Ellen is feeling in a charitable mood and I'm enough of a charity case.

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Verified Reviewer
Original review: Oct. 24, 2016

Be Careful!!! I got a student loan from Wells Fargo in 2000, and when the loan is over, I will have paid $24k for an $11k loan. They buried the numbers so far in the contract I did not realize I was going to pay for someone's salary! Also, when I had financial trouble, they NEVER helped me in any way. They always "ran my credit with a hard hit" to determine if I was qualified... Hmmm if I am asking for your help and I have paid my loan on autopay and I am in financial trouble, running my credit is NOT going to help.

Today, Oct 2016, I spoke with a lovely lady and she was helpful for as much as she could do. I need to have a few payments pushed off. I was offered a two month forbearance (they only offer 1 or 2 month)... I accepted; So now I am in a holding pattern for 10 days to see if I qualify. But in the meantime, interest accrues (which is normal) but my auto-pay was turned off and I have to call to have it restarted (it should start back up automatically). Also, for the first payment after the forbearance, I do not receive the interest discount for auto-pay... just another way Wells Fargo nickels and dimes people to get your money. Do Not get a loan with them. You will not be happy! Read the reviews... Only two people out of 72 had a good experience... The rest of us would never do this again.

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Original review: Oct. 1, 2016

Logging into the banking website alone is very difficult, as there are 300 hoops to jump through to get to your information. I worked at a bank and I understand security, but this destroys any hope of decent user experience. I have had to take out 4 (Wells Fargo) student loans throughout my college experience. Wells Fargo was recommended and had great rates, so it seemed like a good option. A month after graduating (payments are not expected until 6 months after graduating), I embarked on consolidating my loans through Wells Fargo so I would have one payment. After many, many, many phone calls with people that speak from a script and two months time, I finally get the email that my stuff is ready to go. A week later, I log in to make my first payment and to set up my payment information and the new loan is nowhere to be found. No updated information and no one can help. I wish it was easier. This is the end of 2016 and it should be.

Verified Buyer
Original review: Sept. 6, 2016

I have paid over 6K on my $7K student loan over the years and somehow I still owe $8.5K. Some years literally $0 has been deducted from my principal. I tried paying an extra payment to principal and they took 25% toward interest. They randomly say that I didn't make a payment. This has been happening for years, and every time I have to run around trying to get a check stub or confirmation number or whatever. The one time I couldn't find it - they called me monthly after a chat, they said "no problem our fault, it is taken care of...." until they got to 6 months and turned me in and killed my credit.

I got a notice a couple days ago that they changed my monthly automatic withdraw so as to make sure I repay in time. I double checked... and they DROPPED my payment so I was paying less than before in order to drag it out farther. Then I pulled my statement from last month and it says I didn't pay... AGAIN. I have automatic withdraw... it came out of my account. If I were to pay the $8+K cash today, I would have paid over 2x the amount I borrowed...for a STUDENT LOAN. I feel stuck. I hate this! I have never missed a payment on anything my whole adult life and this immoral, unethical company is financially raping me... and then messes up my credit too. I want to make double payments to get out of this mess, but they just keep taking chunks of that too. All for $7000 for massage school. BA is paid off. MA is being paid off... and this piddly amount is killing me.

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Original review: Aug. 9, 2016

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.

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Verified Reviewer
Original review: July 26, 2016

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.

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Original review: July 1, 2016

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.

Verified Buyer
Original review: April 10, 2016

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?

Verified Reviewer
Original review: April 9, 2016

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.

Original review: April 1, 2016

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.

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Verified Reviewer
Original review: Jan. 3, 2016

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!

Verified Reviewer
Original review: Nov. 5, 2015

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.

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Original review: Nov. 4, 2015

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.

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Verified Reviewer
Original review: Oct. 5, 2015

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.

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Original review: Sept. 14, 2015

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.

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Verified Reviewer Verified Buyer
Original review: Sept. 7, 2015

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.

Original review: Aug. 29, 2015

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!!!

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Original review: Aug. 5, 2015

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.

Original review: July 21, 2015

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!

Wells Fargo expert review by Barbara Friedberg

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.

  • College planning guidance: Wells Fargo’s resources portal explains how the financial aid process works and extends an opportunity for students to enter to win $5,000.

  • Loan repayment options: The company’s FAQ page provides a robust portal for students and their families to learn answers to all of their loan repayment questions.

  • 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.

  • Interest rate options: Wells Fargo offers several fixed or variable interest rate options. The company provides access to interest rate discounts as well.

  • 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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Barbara Friedberg

Personal Finance Contributing Editor

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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.

Wells Fargo Student Loans Company Information

Company Name:
Wells Fargo
Year Founded:
420 Montgomery Street
San Francisco
Postal Code:
United States
(800) 869-3557