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Wells Fargo Student Loans

Wells Fargo Student Loans

 3.8/5 (325 ratings)
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About Wells Fargo Student Loans

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Wells Fargo no longer offers student loans and is transitioning its private student loans to a new loan holder. The company's existing student loans will be managed by Firstmark Services, a division of Nelnet.

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Wells Fargo Student Loans Reviews

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Page 4 Reviews 70 - 100
Rated with 1 star
Verified Reviewer
Original review: Aug. 13, 2014

We were co-signers on a student loan that my niece obtained through Wells Fargo. Everything is okay until the borrower fails to pay and then they send you the overdue notices with Late fees tacked on AFTER THE FACT. They also limit your access to the primary borrower's account so that it makes it difficult not only for you to make payments if they get behind but they limit your ability to make payments in case the primary borrower falls behind. After complaining to them about this they responded that Wells Fargo is currently working to make enhancements to student loan account information that will provide easier access for both borrower and co-signer. Not soon enough for me because due to the issues I encountered with lack of account access I ended up paying off my niece's loan in full and don't have to deal with those issues anymore. If Wells Fargo is going to treat you like a primary borrower especially when payments are made late then they need to allow you the same access to these accounts as the primary borrowers.

17 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 31, 2014

Our son has two Wells Fargo student loans, which we are helping him pay back. The bills were going to his email and paper copies were only sent to us when left unpaid, which means there were late fees every time. We finally got them to send the paper bills to our home address, but they still come AFTER the due date almost every time! Wells Fargo asserts that this is a problem with our post office. I'm sick of their tactics.

14 people found this review helpful
Rated with 1 star
Original review: July 7, 2014

I applied for my third student loan from Wells Fargo at the end of May 2014 to pay a past due balance, which they authorize within 30 days of the last semester, so that I could get my transcripts and take my licensing exam sooner. I was approved for the loan, but the money was not sent on the date I was given, June 17th. I called the bank, and they tell me that the school rejected the certification. I called the school, and they never received certification information from the bank. Turns out, Wells Fargo sends it to the wrong school in another state. Then begins the task of rectification.

I call about every two days and they keep telling me that they have sent the certification and that they are waiting on the school, but the school never receives it. Then they turn around and give me or the school a different date as to when it will be sent. To the date of this posting, the school still has not received the certification request. I called Wells Fargo this morning and they claim that the school also called them and they will "resend" it today. I planned to take my licensing exam on July 2nd, which obviously did not happen.

7 people found this review helpful
Rated with 1 star
Original review: May 6, 2014

I was traveling after school to find a job. The economy wasn't in the best shape in 2010 and still isn't. I was making my loan payments but was not at my permanent place for receiving my mail. Wells Fargo's system had my loans split up and my payments, made in full, were not being credited properly. My payments were going to one loan and overpaying on that one. Oblivious to this fact for months, my loan debit was reported to the credit unions. Since then, my credit score has been damaged and even with the proof of my payments, I got insufficient evidence each time I tried to protest. At the same time I am trying to fix this issue, Wells Fargo sold my loans to another provider, which never received the payment statements from my loan with Wells Fargo. 3 years later, I am still showing derogatory remarks on my credit score for a computer glitch on Wells Fargo's part. Horrible company to go with.

11 people found this review helpful
Rated with 1 star
Original review: May 5, 2014

My grandfather died suddenly in October. I was a young college student who had co-signed a loan with Wells Fargo. He had promised to pay the loan off as he was the primary and I never once again thought of it... Fast forward almost 10 years later, a few months after his death, they called my cell phone non-stop, keep asking for more and more money... I am a school teacher and I am afraid that I cannot pay them much longer. My grandfather faithfully made payments, never missed ONE! - And it's a joke, I did co-sign, but it was my "dad" so I signed... They call every single day. All day. I have tried to catch up... but it's very hard. Is there anything I can do?

5 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: March 19, 2014

We have been on the phone with the account dept since August. Their promised phone conversations do not match their outdated computers. We last owed $550 in arrears which actually overpaid by $150 credit. We settled this over a week ago to now find we owe late fee of $220. I am done. Wells Fargo, update your systems. This is crazy.

6 people found this review helpful
Rated with 1 star
Original review: March 15, 2014

Your company is the absolute WORST to work with. Both my daughters have loans through your company. We get at least 10 pieces of mail a week. You never let us know the correct amount due - loans are split up and when we make a payment, you put it all on one loan and then charge late fees on the other loans. We are reporting this to the Better Business Bureau. You are impossible to work with, and we are VERY sorry you are our lender.

15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 27, 2014

Wells Fargo is horrible when it comes to student loans. My daughter is still attending school, yet they keep calling trying to collect on the loan which is not to be repaid until graduation. We keep faxing in paperwork and then they call again without reading their notes. I do NOT recommend using them for your student loans - they are terrible.

11 people found this review helpful
Rated with 2 stars
Original review: Dec. 13, 2013

I have had a Wells Fargo Student loan since 2008 and have been paying on ever since. I have four loans with them and have tried to have them consolidate the four loans into one. They said I didn't qualify. Also my interest rate is 11.25% on the four loans. I keep on making the monthly payments but don't see much results and when I asked about making bi-weekly payments the girl I talked to said, "go ahead but your due date is on the 28th of each month and if you're late you will be charged a late fee." I feel their customer service is lousy and the interest on the loan is too high. I am going to continue to make the bi-weekly payments and I have taken a second job so I can increase the payments to $150 biweekly. I am hoping this will take care of it. I wish I never got a loan with this bank.

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 20, 2013

Not crediting my extra not the principal as I asked. They just advance my due date months ahead and charge me more interest. The interest rate iI signed up for I am still not getting after coursework was completed on time. THE WORST COMPANY I HAVE EVEN DEALT WITH. I hope more folks get the word out about this loan company.

8 people found this review helpful
Rated with 1 star
Original review: Aug. 5, 2013

I was stupid enough to co-sign a student loan for my son with Wells Fargo. I'm already paying a loan (federal) for $250 which is half paid off..and one for $443 a month. I have never been late or missed a payment on these or any other bills, i.e., credit cards, etc. I finally got my first (and only) statement from Wells Fargo when it was already 3 months past due. I didn't know when it was going to come due. They never sent me anything. They want $251 a month plus my son owed like $500 previous... So I called them up to see if I could defer... Told have to talk to my son. Why should I talk to him if you are coming to me for the money. Then they were like, "Well, pay the $251 and we will work with you." So I paid it...

Well, their version of working with me was to defer your other loans! Meanwhile they had already messed up my credit. All my card limits are being lowered and now my credit score is down to 603! After that I would get constant calls at work, cell, home, holidays, Sundays, etc... multiple times a day. Most the time there would be no one at other end of line, just a call to annoy you. I finally talked with someone else when they called saying they had other options. I said, "Well, lower the payment." Can't do it. "Well, defer." Can't do it. "Well, then there aren't any options, are there?" After that I never got anymore statements, just a letter saying pay $251 by end of month to avoid write off credit damage, etc... so I paid it. Same the next month, again I paid it, usually with only 9 days from when I would get the letter until they wanted it... and they never mentioned the past due $500.

Well even though I paid it, still getting never-ending calls and still messed with my credit, not to mention the date they would want the money in their letters was always different. So I had no other option than to just not pay it last month when I got the 3rd and last letter giving me 5 days to pay it. Have not gotten another statement but the first one and those three letters. The whole reason I was paying when I got those letters was to keep my credit good but why pay when they still harass you and ding your credit. I make $2000 a month and my bills are $1500 before the babysitter (I'm raising 2 grandkids) but I still made the effort to try to pay. Now in spite of all those years paying bills on time, or paying over the min. on some, they are all reducing my available credit. All because of Wells Fargo.

I can't see how they can ding me when I was paying, and as far as the $500 owed before I even got a statement, they never addressed it only stating for me to pay the $251 which I did... So I guess my only recourse is to not pay and let them garnish my wages, then not pay any of my other bills and tell them to get in line, and have no credit whatsoever. Guess it doesn't matter now.

20 people found this review helpful
Rated with 1 star
Original review: June 17, 2013

Total loan $2,000.00. I am the co-signer; the owner of the loan is now disabled. Now I am responsible for payment by default. Here are my problems with Wells Fargo.

January 2013: Processed forbearance application at a local banking branch. Paid $50.00 fee. Wells Fargo immediately began calling, stating the loan was in default. February 2013: Representative stated all forbearance applications are processed over the phone. Given the most "sincerest" apologies regarding Wells Fargo's mistake. Representative stated she would take this up with her supervisor and reprimand the branch for providing me misleading information. March 2013: Wells Fargo stated the fault was mine and sent the default information to the credit bureau, thereby ruining my credit.

March 2013: In order to try and rectify the situation, I inquired for further information regarding exactly what I needed to do to have my forbearance application properly handled. I was told by a representative that I must bring my account up-to-date at a total of $256.32. Another forbearance application was filed in March 2013. June 2013: The phone calls started again. I was told my account was in default again, with $128.00 due. The Wells Fargo representative stated she was unable to access the information from March 2013, yet was able to tell me since I paid $256.32, this amount was paid through April 2013, not March 2013!!!

It is important to note that in March 2013, I was told by the representative the $256.32 covered payments up to March 2013. This payment was mandatory before the forbearance application could be filed. The June 2013 representative stated since I had remained current on my payments rather than honoring the forbearance period, I now owed May and June 2013, totaling $128.00. When I requested clarification of my a) forbearance decisions, b) the note history taken by representatives since January 2013, and c) payment history, the representative stated she did not have access to this information (remember, she was able to access historical notes stating I paid $256.32 in March).

It is painful being strong-armed by a corporation when trying to do the right thing as a patron. Quick summary of how Wells Fargo misled me the last six months of June 2013:

January 2013: Wells Fargo bank branch takes $50.00, claims is processing forbearance application. February 2013: Wells Fargo admits blame and makes promise to rectify the situation. March 2013: Wells Fargo admits no blame, sends default information to credit bureau, ruins my credit. Wells Fargo takes $256.32, states this is mandatory to bring my account up-to-date, thus allowing forbearance application filing. Another forbearance application filed. June 2013: Wells Fargo states my loan is in default. June 2013 representative states the March 2013 payment of $256.32 included April 2013. Told since I remained current on payments through April 2013, I owe for May and June 2013, totaling $128.00.

Today, June 15, 2013, a Wells Fargo representative stated if I pay $128.00, she will file a forbearance application. "If this doesn't sound familiar"...If I don't pay, she will report the default information to the credit bureau. I told her "No, I will not pay again; file an application again." I no longer trust that what a Wells Fargo representative says today will be consistent with what I may be told tomorrow, or even an hour from now, if I seek to speak with another representative.

First, I need legal assistance, and since my payment is due two days from now, 06/07/2013, I have 24 hours to do so. What a runaround. I can't fight Wells Fargo's lack of ethics alone. Seeking legal assistance.

16 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 13, 2013

I got a private student loan with Wells Fargo in 2006. Here we are in 2013 and I'm paying on it still. I tried the Air Force to pay it off but since it's a "private student loan" I was denied. I'm out of the Military, a single mother and my co-signer passed away so I'm still stuck paying this horrible loan. Originally, the loan was for $10,000; after the interest, it's $33,000. I called Wells Fargo after my dad passed away and I got out of the military to see if they could get rid of some of the loan. They said they could not. This loan has been haunting me since 2006. It's insane! After getting out of military, Wells Fargo also denied lowering my interest rate. Way to screw over a veteran! I couldn't even pay it off during my deployments. I will never bank or do business with them again!!!

18 people found this review helpful
Rated with 1 star
Original review: June 7, 2013

I just graduated this month and was able to do it in 4 years. For three of those years, I took a student loan from Wells Fargo, totaling $25,000. Today, I called for my payoff amount and it is $29,300. I'm paying 17.2% more money than I borrowed. If I paid it off over the next 20 years, I would only have paid interest and still owe the entire loan when I'm 42 years old. Wells Fargo takes advantage of students. I will NEVER do business with them again.

16 people found this review helpful
Rated with 1 star
Original review: June 5, 2013

Do not get a student loan through Wells Fargo. I have a $20,000 loan that I have been trying to pay off for about 6 years now. I have consecutively been paying $200 each month for the past two years. Only $22.40 of that goes to the principal each month which means about 80% is applied to the interest. The contract states that the interest is at 11% but it is misleading because they'll take out way more each month than just 11%. Also, there is no way to consolidate this loan with anyone else or refinance. My other private loan is through Nelnet. They take out a little more than half for interest, but since I only have to pay $60 a month, it's far more acceptable.

7 people found this review helpful
Rated with 1 star
Original review: Feb. 2, 2013

I started my Masters program on December 16, 2012. Prior to this, I called all my student loan holders and asked how to defer my student loans while in school. Wells Fargo told me what paperwork to fill out and gave me a fax number. I did all of it but they kept calling me that my loan was past due, even though I started school already. Today, I called to complain that no one has processed my deferment paperwork and the rep told me that I couldn't defer my loan! I was stunned! Two other reps told me I could but now they are saying I can't?! This rep told me I had to go back to school for my Masters within one year of graduating to defer it and that it was on my promissory note. That was in 2004. I'm livid. I want a copy of this promissory note and I am advising everyone I know to never get a loan through Wells Fargo. Now I am a broke grad student with a loan I can't pay.

13 people found this review helpful
Rated with 1 star
Original review: Jan. 7, 2013

After dealing with the Wells Fargo student loan department for 4 weeks, I gave up and found a loan somewhere else. This department is so disorganized, rude, and slow. I never saw a dime from the loan because I was constantly being tossed around among the department. Once I completed the paperwork for the first time (took a week to process), they said they accidentally gave me an old form and so I had to get my cosigner to start over and redo all of the forms with their new template. This was a miserable, time-wasting experience. Stay far away from anything with Wells Fargo written on it.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 1, 2012

I had co-signed a student loan for my son. When the loan came due, he had apparently chosen not to honor his commitment. I was contacted as a reference for this loan and was initially advised that payment was due along with a late charge. The payment was $60.11 with a late fee of $28.00. This calculated to a 46% charge. I contacted them and spoke with several representatives who all refused to give me a simple answer as to how such an exorbitant late fee percentage was calculated. In addition, none of the representatives I spoke with would give me their full name.

I finally spoke with a supposed supervisor only known as Dave who told me that if I would make the payment, he would waive the late fee - but even he refused to disclose how the fee was calculated. I advised them that I would be making the payments since I was the cosigner and asked how I would access payment information on their site or how they would mail me the information regarding the received payments and balances. I was told I could not access the information without my son signing up on their site and giving me access. Dave said he would look into mailing the information.

I do not have contact with my son so their offered options were of no resolve for me. However, I am making timely payments which started August 2, 2012. Wells Fargo is receiving timely payments on the loan and has yet to grant my request to access the account information or sending me the same via mail. I am sure if payments were stopped, they would have no problem contacting me in reference to their monies due. But apparently, they cannot give account information to the person making the payments.

My situation with my son is regrettable, but has no bearing on what I have requested from them. I would strongly advise any parent considering a co-sign with Wells Fargo educational services to pursue other lenders or options as the company has demonstrated a lack of consideration for those who ultimately pay the charges.

16 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Nov. 1, 2012

To hell with Wells Fargo. I took out loans through Wachovia. I graduated in the height of the financial economic collapse and Wachovia sold me out to Wells Fargo. They have since employed tactics to include calling daily 3+ times a day, asking me to borrow money from family to make payments, threatening me with legal action if I don't pay up while I am unemployed and actively seeking work. In short, Wells Fargo is by far the worst financial institution that I have ever dealt with. I look forward to the day when all of the people that they have pissed off, screwed over, or driven to an early grave get to watch this company crumble. I cannot wait to be there in the front row.

16 people found this review helpful
Rated with 1 star
Original review: July 8, 2012

I am unable to pay my Wells Fargo private student loans which have rates of 10.75%. They call me morning, noon, and night asking for money. I could not pay a bill of $650.00, so I took a hardship deference. Now the deference has come to end, they expect me to make a payment of $800.00! I have tried to make smaller payments, but they will not accept these. I also have other student loans which I do stay current because they are more affordable. I am afraid they are going to go after my husband, which is my cosigner. I am not a traditional student either. I am 43 years old, and I have a family. I graduated in May 2011, and dealing with this is a nightmare!

8 people found this review helpful
Rated with 1 star
Original review: May 1, 2012

I called Wells Fargo on March 26th to pay off my student loan and to request a written letter showing I am paying off the account. I gave them my banking information and they told me that it will be done. I received the letter that they were working on taking the money out of my bank account. Previously, the person I talked with at Wells Fargo told me it could take up to 30 days. I was not worried. However, this month, the money was not taken to pay off the account. They did take the normal monthly fee. I called them up and then they said my account did not work or they were missing a number. Then they told me they would process it this week, still not pending on my account.

This was Friday, nothing has since been posted on my bank account. They won't let me pay off my account and I have been making payments since 2004. Now I want to get rid of them and I can't. Does anyone have an advice? I have the money in my account and I am not sure if I should be paying off the amount they quoted on March 26th as the payoff amount or a current amount? Should I just go to a local branch and pay directly to a teller or bank representative?

6 people found this review helpful
Rated with 1 star
Original review: April 26, 2012

A total mess from the beginning. Nobody can answer any question. I was told I need this only and they don't need that, but they need something else. The reps can't answer any question. They lie about what it is. For example, "Is this a simple or a fix rate loan?" The answer from rep is, "It is a student loan. You don't understand, do you?" What kind of a response is that? Now three weeks later, I received an email that my app is being deleted for who knows what now. After making three calls and being on hold for almost two hours, I am stating I will never, never recommend Wells Fargo for a student loan or anything else!

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 11, 2012

My son took out a $22,000 personal student loan in Oregon, for the 2008/2009 school year through Wells Fargo. The following year, he was accepted to a school in France, where he is getting his Bachelor's of Science in International Business. This school is a federally recognized school, complete with a FAFSA code (which he has received loans through Sallie Mae - so it is a legitimate and highly recognized international school). However, Wells Fargo has decided that they don't recognize this school therefore they don't consider him in school and are not allowing a deferment and demanding that he make payments now.

He has applied and been accepted to 2 schools in London for a graduate degree. These schools all have FAFSA codes and Wells Fargo is not recognizing them either. When he asked for them to provide a list of schools that they do recognize, Wells Fargo was snotty and said they could not provide it. What the heck is he supposed to do now? From all the complaints I see posted here, is there really no one over-seeing Wells Fargo's student loans? Who can we contact to help defer this loan or reduce his payment enough that he can add it to his Sallie Mae loan? The person who stated that their tactics do seem to align with car salesmen seems appropriate.

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 27, 2012

I took out a $10,000 student loan with Wells Fargo in the fall of 2010, because Wachovia did not offer private loans. After setting up my loan, I set up online access at the same time. Prior to the merge with Wachovia, I was never able to click on the student loan link under my loan accounts. I assumed that they were a trustworthy bank just as Wachovia, and I didn't think anything of it.

I knew interest had to be accruing, but nothing was ever mailed nor were notifications sent to me online. After Wells Fargo and Wachovia merged, I was able to click on the student loan link, but nothing showed besides my balance. Well today, I get online, and here is everything I haven't been able to see over the last 1.5 year to include a new capitalized interest balance, quarterly interest statements, how to pay on quarterly interest, and that my loan went into repayment.

Seemingly so, I called Wells Fargo seeking answers, and all they could tell me was they were sorry that they don't mail out quarterly interest reports to active students but that they have always been accessible online. I explained I access my online accounts roughly every week, and there has never been a notification about a statement or a statement link.

Moreover, the contract I signed does not explicitly state that Wells Fargo does not send out quarterly interest reports to active students. I explained that the representatives answer did not satisfy my curiosity, because even if I acknowledge their stupidity of not mailing out quarterly statements, I never had online access either. The representative kept saying access was established when the loan was sent out and what more do I want her to do.

I told her I want an answer. I know they keep records of accessible options; that's what it is for. Whatever you put online, stays online; it doesn't just vanish. She claimed not to understand because it wasn't her department, so I asked her to conference in the Online Banking Team. The team member told me I am correct. I did not have access when my loan originally went out. She showed I didn't not gain access until almost 6 months later. Well, it sounds to me you can't charge me for that 6 months of interest if the option to pay it was not given by a failure you acknowledge. Second, if you made this mistake, please don't expect me to believe I've had access all this time when I've clicked on the link several times and saw nothing.

I completely understand why banks charge interest on loans, but the consumer is supposed to be able to keep track of what's is going on, and in this case, I wasn't. This was my first private student loan, and in learning the ropes, Wells Fargo is certainly not the way to go. Someone needs to make them comply by the rules of other student loans across the country. If you don't intend to send out reports, make that perfectly clear. I don't mind paying on bills I can keep track of. But don't assume I'm supposed to know what you are thinking.

I know I cannot be the only student this has happened to. I would really like to put together a class action lawsuit with others this has happened to. The repayment of my loan is not the issue but how they capitalize interest and don't share it with the consumer until repayment hits.

11 people found this review helpful
Rated with 1 star
Original review: March 26, 2012

I recently tried to consolidate my student loans with Wells Fargo ($85,000) and they told me to come in and have a chat with them. They provided me with juice and some doughnuts. They sounded as though they were really going to help lower my interest rate.

After 2 hours of going through questions and viewing my options, nothing was working out. I would be better off keeping my interest rate and paying off my loan rather than taking on a long term plan and end up paying more. He told me to wait while he speaks to his boss and he would do me a favor by authorizing a lower interest rate. Are they car sales people at Wells Fargo? They are very shady business men.

He comes back and says we can lower it by 0.02%. I laughed and couldn't waste more time. He said he really tried hard and later with our goodbyes, he asked for a favor. If I have other friends who need consolidation to give them his business card.

I feel so sorry for those that have been taken in the past. Always take your time when you venture out to banks to consolidate your loans and make sure you have a good heavy fat lunch so they can’t buy you out by offering you juice and doughnuts. Wells Fargo can go suck a lemon. Watch for those auto payment system they tell you about, "You never have to worry about your payment due dates, we take it out automatically so you don’t even feel it."

11 people found this review helpful
Rated with 1 star
Original review: March 22, 2012

Wells Fargo took funds from my account. I have two student loans with Wachovia which is now Wells Fargo and they said I defaulted on one student loan and the other loan is current. They went into my bank account and took $6,000 and said that they can do this if you bank with them and have a student loan with them. I am furious. I closed each and every account in that bank. I hate Wells Fargo and I would never recommend that bank to anyone.

15 people found this review helpful
Rated with 1 star
Original review: March 20, 2012

My grandfather co-signed my student loan with me and he recently passed. I was traumatized, so I took a break from school and I'm not able to make payments. I had to get my number changed, they called so much, but I feel bad, because now they’re just harassing my poor widow grandmother. Please seek loan somewhere else. These people only care about your money.

4 people found this review helpful
Rated with 1 star
Original review: Feb. 24, 2012

I'm currently on medical bed rest, in and out of the hospital, due to threats of preterm labor and recent cervical surgery. I am unable to work and have the medical paperwork to prove it. Wells Fargo is refusing to give me a deferment because I have had one in the past. I was told that there is no temporary disabilities program to offer their customers, which is beyond shocking to me. I've offered to pay whatever I can each month to keep them from selling my loan to a third party that according to them will start immediate legal action against me to garnish my cosigner’s wages as well as my future wages. But they are unwilling to accept anything but the full monthly payment. This payment is $600 a month and I have no idea where I can come up with this money. At this point my pregnancy (baby) is the most important thing on my mind. My husband and I are struggling to keep up with our regular bills with just his income. I'm not sure what to do. Please help!

6 people found this review helpful
Rated with 1 star
Original review: Feb. 18, 2012

I have been having trouble with Wells Fargo since August 2011 when I took over the repayment of my son's student loans. First, I was told to send in three separate checks for the payments. Then in December, the payments were not credited properly and I was charged late fees. When I called about this, the representative told me to just send in one check for the payments.

This week I received late statements that I was past due. Now, the Customer Service person tells me that I should use check by phone because when I mail in a check they would not know how to credit it. I have one account number that covers four loans. How am I supposed to know which one is which? And why am I having to pay late fees for the incompetence or intentional theft of Wells Fargo?

These experiences are just sample of the hassle I have had to deal with. I am planning to send a letter, detailing all of the problems I have had as I have kept careful records of those who I have talked to as well the dates and times, to the Account Manager of the Wells Fargo Education Financial Service with copies sent to the CEO of Wells Fargo and Company, the Better Business Bureau and my congressman. The intentional incompetence of Wells Fargo is a threat to our financial and credit standing.

6 people found this review helpful
Rated with 1 star
Original review: Feb. 14, 2012

Over the last 6 years, my student loans (a total of 4) have had the payments misapplied (the amount I pay is sent to one or two loans, almost never to all 4). I've been told multiple times that the account is sent to a "special department" for someone to watch for a payment and make corrections, and that someone would follow up with me. No one, not once, has ever done so, nor has the problem been fixed. I've paid by phone, in the mail with a check, done an online transfer from another WF account, and bill pay through another bank, and none have worked. I've asked if I sent in 4 checks with each individual loan # (my account is under one number) on it if that would fix it, and was told no.

The only resolution WF has offered is for me to sign up for auto-pay each month, though no one has explained to me how that would fix it. I find it utterly ridiculous that I must spend on average a half hour to an hour each month arguing with a customer service rep to get my loans fixed. I'm told quite frequently that I simply paid the wrong amount and that is my fault the loans are screwed up, then they put me on hold and "figure it out". I don't know why any bank with this history of screwing up would think I'd allow them to automatically take money from my account.

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Wells Fargo Student Loans Company Information

Company Name:
Wells Fargo Student Loans
Website:
update.wf.com