What company took over Wells Fargo student loans? As a matter of fact, to clear the doubt of those asking questions about the Wells Fargo student loans. Wells Fargo stopped processing the application for new student loans in January 2021. In other words, Wells Fargo no longer accepts any loan application for new student. However, you can still apply for other financial services like home equity loans, bank accounts, credit cards and many more. Therefore, for Wells Fargo student loan customers who have been longing to know their new loan servicer, keep reading to discover the new student loan servicer for Wells Fargo.
Wells Fargo Student Loans Review
Before the announcement of the new loan servicer for Wells Fargo student loans, Wells Fargo used to provide private consolidation loans and private student loans services to its student customers. Several requirements are considered when you want to borrow the loan which includes the repayment terms and interest rates which vary based on your credit score, the amount of loan you borrowed, and other eligibility requirements. Generally, without mincing words, Wells Fargo was popularly known for providing competitive repayment terms and rates when it comes to student loans especially for those students with good to excellent credit score.
According to Wells Fargo bank, the bank is currently “selling and transferring” its student loans. In other words, if you apply for new Wells Fargo private student loans, your loan account will be transfer to a new loan servicer. This also applies to existing student loan accounts. This new loan servicer will manage, track and handle all loan payment once the transfer is done.
Who is the New Servicer for my Wells Fargo Student Loan Now?
Wells Fargo has assigned a loan servicing company to be in charge of its student loan; Firstmark, a branch of Nelnet.
In the process of this transfer to a new loan servicer, Wells Fargo will notify and give appropriate information to its new and existing student loan customers. Customers should also get information from the lender before the loan account transfer begins. But if in any case, you haven’t received any information on your Wells Fargo student loan account. Wells Fargo will definitely send the appropriate information to you.
What Should I Do with my Wells Fargo Student Loan?
If your Wells Fargo student loan account has been transferred to the new loan servicer, Firstmark. Bear it in mind that your repayment and rates still remains the same. In other words, if you like the interest rates and loan repayment terms on your current student loan and you are happy with it. All that is required for you to do is start making payment to Firstmark once the transfer process of your loan is complete but if you student loan account has not been transferred, kindly continue to make payment on your Wells Fargo student loans.
How to Refinance Wells Fargo Student Loans
If you think you may qualify for a new student loan with better loan repayment terms and interest rates, you can choose to refinance your loans to move you to a new lender of your choice. You can consider some few Private student loans with a good term and rates that you can afford to pay back monthly according to your budget.
How to Apply for a Wells Fargo Student Loan
If you are a student or parent and you want to apply for the Wells Fargo private student loans with a lower interest. However, kindly complete the Free Application for Federal Student Aid so that you can get information about various available financial aid options which grants, scholarship and federal student loans. But if you want apply for this Wells Fargo loan after deciding to go for a private student loan, then you can apply for a student loan online by visiting the Wells Fargo website.
You will be required to provide your school information, your permanent address, cost of attendance of your program, employment and income information, your Social Security number, and expected financial aid.
How to Reach Wells Fargo for my New Student Loans
If you applied newly or applied as a co-signer for a new Wells Fargo student loan and your application is being processed. To make enquiry about your loan application status, kindly call the loan company at 1-800-378-5526 or visit the Wells Fargo loan application status website.
What Can I do If I Missed the deadline for Wells Fargo Applications
If you want to apply for Wells Fargo application and you miss it. Do not panic, you can still check out for other excellent student loan companies.
To get the best student loan companies, you will come across their very low interest rates and repayment terms that meet your need and you can repay back. This will enable you save money and even help you become eligible for private student loans with bad credit.
How to Contact Wells Fargo Customer Service for my Student Loan
If you are having any issues regarding your student loan account, payment and any other loan issue. Kindly contact Wells Fargo at 1-800-658-3567 and you can reach out to the loan consultants from Monday through Friday from 7 a.m. to 8 p.m. CT.