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Wells Fargo Student Loans

Wells Fargo Student Loans
Overall Satisfaction Rating 1.09/5
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    101
Based on 104 ratings

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Wells Fargo is a national bank with branches in many communities. Its services include home loans, mortgage refinancing and home equity loans. Explore mortgage information, affordability calculators and home loan shopping tools on its website. If you’re interested, apply online or talk to a Wells Fargo mortgage consultant in your area.

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    Wells Fargo Student Loans Reviews

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    Page 1 Reviews 0 - 10
    Rated with 1 star
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    Verified Reviewer
    Original review: Nov. 14, 2020

    Wells Fargo knew I was in school when I needed a forbearance for my loan that I had to take out due to my school abusing my financial aid. So I was told that I wouldn't have to worry about the loan if I can show that I was still in school. So by the time I graduated Covid-19 hit and I was furloughed from my Job. Trying to be proactive, I reached out to Wells Fargo to inform them of my situation and they keep pushing the issue back to October for some reason. So as my loan approaches being due in November, they claim I used up my maximum forbearance as all of a sudden there's a limit which was never mentioned in the past until after Covid-19 hit.

    So after speaking several careless customer service representatives with no sound solution, I demanded to speak with someone in the corporate office yet I get another customer service department who submitted a request which was denied a few days later via postal mail. I feel that Wells Fargo is too big of a company to be so inflexible when it comes to situations like this and facing a pandemic. I feel that if they refuse to work with me and ruin my credit, I'll spend all that time making sure everyone knows how bad of a company they are. I will report them to all the news stations, business organizations, reviews on every website, and all over social media to express my frustration with how poorly this was handled.

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    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 4, 2020

    I got my student loan for my daughter in 08/2011. Wells Fargo could not set up bi-weekly payments for the loan (no logical explanation even though that's exactly how I pay my mortgage to them) therefore I make a monthly payment. I have never allowed this particular payment to be auto-drafted. I log in each month & when I make the payment it is scheduled for that day with no other choice offered. I am not allowed to schedule the payment in advance. After almost 10 yrs, I decided to call & complain about it. The only explanation I was given is that "Wells Fargo doesn't offer that option for student loans" when I finally reached a supervisor - basically "because we said so" answer. Total garbage answer for a loan that has never been paid late. You would think after getting 13% interest on a loan, they would at least allow me to schedule a payment. When its all said and done, I will have paid almost $50k for a $25k loan that's never been paid late - EVER.

    Be the first one to find this review helpful

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      Rated with 1 star
      Verified Reviewer
      Original review: April 13, 2020

      Wells Fargo has been the worst student loan company to work with. I am currently trying to lower my payments because they are 1.5 of my paychecks. They have denied me multiple times for consolidation loans and the loan modification, which is the only two ways to lower the payments. They also do not care if co-signers cannot make the payments. They take the co-signers' income and never look at the debt to income ratio for you or the co-signers. It is impossible to work with these people. They do not care about you or what situation you might be in. They are only trying to get their money.

      8 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Feb. 16, 2020

      Wells Fargo may have gotten rid of their late fees but their practice is still unethical. They skyrocketed my interest rate after I graduated. And because of how they compound the interest including the entire life of the loan, my loan doubled overnight. My student loan monthly payment is minimum of $600 a month. Called them to come up with a better repayment plan, income based, anything to avoid becoming default. They refuse anything but full payment. Unwilling to work with you. I have closed all other accounts with Wells Fargo and will never do business with them again. Going to refinance with another company, but they've stalled out many things in my life because of their practices. How they handle student loans has been described by my family and friends as sickening, I agree.

      14 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Dec. 11, 2019

      I recently received a check from Wells Fargo to correct an error in the interest rate I was charged for a grad school loan. I paid off the loan in 2006. The check, issued in September 2019, was for the principal amount that was overpaid. There was no interest adjustment for the 13 years it took them to reimburse the overcharge. I verified this with the Wells Fargo “Executive Office” case worker today. He indicated that he has had a number of calls about this issue and is escalating to “Senior Management”. I’m awaiting a call back from his supervisor now.

      9 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Oct. 15, 2019

      Been in the process of trying to reduce my student loan payments and have been getting the run around on the process. I was told I had to fill out a packet and send back. Did that. Had to get information to them on power of attorney for my cosigner. Did that. They sent a Modification Agreement out to me and I sent that back. Now I am told I have to provide more information on power of attorney after I was told that was what I needed. They just give the runaround, like a typical big bank and this is why I won't use them for anything else. I had to talk to someone else to get a clearer answer on why I was not informed. I was told that not every person knows the proper process and that even the guy I spoke to does not know the whole process. That shows that Wells Fargo does not actually care about their customers.

      4 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 3, 2019

      Please do yourself a favor and do not refinance your student loans through Wells Fargo. You can never pay more than what is due monthly and have it go toward the balance, it will go toward interest only. If you have a late fee on your account, it is almost impossible to ever pay it off because any additional money paid will again go to interest. I have the same late fee from July carrying over to October now because they keep having me pay it again and again. When you call customer service, they are not helpful either. They "understand your frustration" but will do nothing to alleviate the situation.

      The whole payment set up on their website is backwards. Don't give me my payment due, and include the late fees in the total payment and then I pay all that is due and you DON'T apply it to what I believe I am paying for. There should be a way to make your payments, and pay off any applicable fees and be done with it. They do this purposely so that you keep paying them more money, it is a scam. Their customer service agents are also unprofessional..

      12 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Sept. 18, 2019

      I got a student loan from Wells Fargo during grad school, which totaled less than $37,000. I had a hold on payments during school and for 6 months after school. Over the following five years, I paid $17,000 yet they said my principal had only gone down by $3000!? When I tried to get someone to explain it to me they babbled on about random fees and interest, none of which could explain where the other $14,000 went. I had automatic payment set up so it was never late. In the end, my parents paid it off and I'm paying them back instead, but I'm extremely angry and trying to figure out if there is any recourse. Don't use Wells Fargo.

      10 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: May 23, 2019

      I initiated a call for a parent plus loan so I could pay for my daughter's college tuition in 2013 since Wells Fargo and I had a long banking "relationship" such as paying off a mortgage. The representative said she needed my daughter's information to confirm she indeed was attending college. Somehow her name appear on the loan. Mind you this is a 19 year old child, yes a teenager right of high school with no job!! I began to pay what I thought was a parent plus loan that started at 8.9% interest but now is at 10.99%. However, if you pay before the bill is issued the payment is not credited for that month so you have to make another payment or you assess a late fee. Yes more interest charged.

      Three weeks ago, I decided to refinance the loan with Navy Federal at 6.8% but came to find out I am a cosigner and could not refinance it so I reached out to Wells Fargo for answers about me being a cosigner. The calls escalated to Executive Officer Catherine **. Research/Remediation Analyst who said would look into the issue. Two weeks later she tells me the loan was a Collegiate loan and my daughter was the primary borrower but we are both responsible, therefore, she can not help me refinance with Navy Federal. Parents be aware of Wells Fargo's student loans. They will confuse you with their wording and fraudulently obtain loans from your children like mine. My daughter now has a debt to Wells Fargo of over 100K.

      8 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: May 13, 2019

      I had a horrible time working with Wells Fargo Education Financial Services. I wish I never got a student loan from them. I do not even understand why I had to get a student loan with WF. One year (1998) they filled in a gap of $4011 for me at the schools suggestion. I just got done paying this loan off in 2019. I paid a lot of interest. They still put a derogatory mark on my report under dubious circumstances. I am only writing this to warn others. Do not work with them if you have an alternative. Wells Fargo is not a good bank. I was tempted to refinance a mortgage with them and I am happy I did not. Problem bank.

      13 people found this review helpful
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      Wells Fargo Student Loans Company Information

      Company Name:
      Wells Fargo
      Year Founded:
      1852
      Address:
      420 Montgomery Street
      City:
      San Francisco
      State/Province:
      CA
      Postal Code:
      94104
      Country:
      United States
      Phone:
      (800) 869-3557
      Website:
      www.wellsfargo.com