Wells Fargo Education Connection Loan; Real or BS?

kayty2339 · Oct 9, 2009

The SAME exact thing happened to me. I have 9 years of perfect credit. Not one late payment EVER. I pulled my credit, I know there's nothing bad popping up anywhere. They denied me, then denied my husband as a cosigner. I don't have anybody else to try, but I'm sure they'd deny anybody. I think there doing whatever they can not to lend right now.

kcromer · Oct 9, 2009

The SAME exact thing happened to me. I have 9 years of perfect credit. Not one late payment EVER. I pulled my credit, I know there's nothing bad popping up anywhere. They denied me, then denied my husband as a cosigner. I don't have anybody else to try, but I'm sure they'd deny anybody. I think there doing whatever they can not to lend right now.

thanks for the reply kayty2339, makes me feel better that Im not alone in this.

What other means of financing have you tried? have you found any other lending that dont require certification from your school?

kayty2339 · Oct 10, 2009

I'm applying for scholarships at my school, don't think that will turn out to be much, but every little bit helps. I'm applying for the federal loans that my school offers also. The max they will do is $4500/year with a max of $12k. I haven't heard back on the decision on those yet. I also have a $10k line of credit through my credit union that I just paid off with a collateral loan against my car, so that I'd have the 10k available if I need that also. I also need these loans for living expenses, to help pay the bills while I'm not working. Basically I'm just trying to be as creative as possible to make this work. My program is 18 months long. I don't want to have to go into this much debt if I don't have to, but I figure most people do a lot more than this on student loans anyways.

kcromer · Jan 23, 2010

Its been a bit since I brought this topic up. I wanted to rehash it to see if anyone has tried the connection loan lately?

wetzoo · Jan 24, 2010

lol I applied for the education loan last year as well and my co-signer (who has perfect credit) was also denied.

Funny thing is, I recently got accepted into an ABSN program, and applied for the 'MedCAP loan for Health Professionals' through Wells Fargo which requires no co-signer, and it was granted.

kcromer · Jan 24, 2010

lol I applied for the education loan last year as well and my co-signer (who has perfect credit) was also denied.
Funny thing is, I recently got accepted into an ABSN program, and applied for the 'MedCAP loan for Health Professionals' through Wells Fargo which requires no co-signer, and it was granted.

Congradulations on the medcap loan. I'm actually thinking about moving from the school I'm at now (community college) and transferring to USC upstate. Ive talked with there finical aid dept and they say they will certify as many loans as I need. I have done the math and its not good. I plan on transferring out, to finish up the BSN after community college, the cost difference is HUGE if I transfer before I finish the ADN. After Community college I should only need one year to finish.

community college for the ADN = just under $13,000.00 for tuition +- $ for books. That's the whole degree cost.

USC upstate = 5,000 per semester + books. yikes!!

2 semesters and it will blow away my total cost for the ADN. I feel like I'm stuck between a rock and the mountain it fell from! LMAO!! Whats the deal with community colleges not certifying more than one loan? Seems like with unemployment being ridiculously high they would help people out with living expenses. IDK perhaps I missed something.

All I can tell you is DELIVERING PIZZAS suck! I feel like a dork every time I ring a door bell. Ding dong, the dork is here. Its not easy finding a job that will work around school. My wife has been waiting tables. Thank god we dont have any debt. Just our home, 2 children and the loyal hound.

ok, rant off- sorry, Im frustrated. Its been almost a year now since we got back in school and I cant find any thing that would help us out.

ICUterry · Jan 25, 2010

obviously its harder to get loans nowadays with the recession and banks closing.. even though wells fargo does well this is what i suggest is wachovia from your school.. i find it odd since your score is really good.. my school offered me stafford sub n unsub i took both .. u should take both stafford sub n unsub its something.. seems like u cant qualify for more than that.. but having perhaps your wife or someone with your SCORE and similar HISTORY will put u in the good seat.. keep in mind you can take other loans but they of course are higher rates.. reason i say wachovia is because wachovia is a daughter branch of wells fargo.. GL hope it hlps

kcromer · Jan 25, 2010

obviously its harder to get loans nowadays with the recession and banks closing.. even though wells fargo does well this is what i suggest is wachovia from your school.. i find it odd since your score is really good.. my school offered me stafford sub n unsub i took both .. u should take both stafford sub n unsub its something.. seems like u cant qualify for more than that.. but having perhaps your wife or someone with your SCORE and similar HISTORY will put u in the good seat.. keep in mind you can take other loans but they of course are higher rates.. reason i say wachovia is because wachovia is a daughter branch of wells fargo.. GL hope it hlps

thanks for the suggestion. That was something I have thought of but my school want allow it until Im in a associate program and have more than 24 credit hrs. Whats crazy is as of now I have 31 credits, and the BIO classes have to be done one at a time. That puts me applying for the ADN program in the fall for next spring semester. Just so I can get a extra 2k per year. Which will be consumed by fees of the ADN program.

I have made a few other calls today to other schools. Looks like my community college is the only one around here that will NOT allow or certify more than one loan. I asked, "with all the older students returning to the class room, looking to take there lives in a different direction, how could you not offer them help? I understand not throwing money at a 19 year old, but I'm 32 yrs old and need your help. If I cant get the help I need in my community, I have to find a school in another community that will help me to survive".

I got a "I understand, but those are the policies", "we just dont believe in loading students down", "you will thank us in the long run".. comment.

great!! I'm so excited about the rest of this semester.. Every thing is just fine :down:

Back to the drawing board.. This stress is bringing me and the wife down.

caliotter3 · Jan 25, 2010

Your thread is an eye opener for those who need financial assistance for school but have not started the process yet. I believe a lot of people are being placed in the position of not being able to continue their education because of the inability to find the means to pay for it. It used to be that anybody could get loans for school, now nobody can. Not a good thing.

ICUterry · Jan 27, 2010

yeah i believe it isnt really much.. they should give you ike 2k sub and 3k unsub.. i actually took a loan and guess i got lucky.. i have 2k sub 3kunsub per semester plus fin aid of 2.5k ud think that be a lot but due to car accidents and odd moments in life every penny will be needed.. wachovia is what i went through..but was offered from b of a as well. my school only wanted you to enrol in a program and make sure your classes were going torwards that.. last semester was my first semester but i took like bio chem and speech.. maybe you should talk to a counselor cuz something doesnt sound right. i didnt need 24 credits to apply... i just needed an idea of what im doing .. so on my fa it says undergrad Registered Nurse.. y can you only take one science at a time.. im taking anatomy and micro with english this sememster physiology in the summer and am applying... somethings fishy bud i suggest keep researching etc.. ill try the same for you