Wells Fargo loans- what have been your experiences?

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Specializes in Case management, occupational health.

I am thinking about taking a student loan from Wells Fargo, seems they are one of the few that will loan money for living expenses while you are in nursing school. I have seen a few complaints about their customer service, one person even said they changed the terms of the loan without notice.

Has anyone borrowed from them, was it a nightmare or has it gone smoothly?

Does anyone know of any other lender that will loan for living expenses?

Thanks!!

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I'm currently in the works of getting a loan from WF. I have never taken out a private student loan before, so I am just learning! I applied for $20K, because I have to basically supplement my income while I am in nursing school without a job. I have been "pre-approved" with my father-in-law as a cosigner (I was denied for the loan immediately by myself, and also with my husband as a cosigner), and now I am just waiting to hear whether or not my school will certify the amount... Who knows if they will, but I'm hoping so!

Other than that, I can't give much advice. Hopefully someone else here has had experience with WF and can let us know. Good luck! :D

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Specializes in Case management, occupational health.
I'm currently in the works of getting a loan from WF. I have never taken out a private student loan before, so I am just learning! I applied for $20K, because I have to basically supplement my income while I am in nursing school without a job. I have been "pre-approved" with my father-in-law as a cosigner (I was denied for the loan immediately by myself, and also with my husband as a cosigner), and now I am just waiting to hear whether or not my school will certify the amount... Who knows if they will, but I'm hoping so!

Other than that, I can't give much advice. Hopefully someone else here has had experience with WF and can let us know. Good luck! :D

This is what scared me, after reading these customer complaints I am a little scared to use them, but I feel stuck

http://www.consumeraffairs.com/finance/wells_fargo_student_loans.html

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I applied for a loan from them and it went real smoothly it really just depends if you have a strong co-signer. If you have weak credit then they give you a huge run around that gets quite annoying. I mean ive had good experiences overall every quarterly they send me how much interest has accrued from my original loan though it not pretty its helpful

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I actually have very good credit. I've never been late on anything in my life and I've never been turned down for any type of loan. Apparantly I'm not good enough for Wells Fargo though. Even with my husband as a cosigner. I figure it must not be meant to be that I get that big of a loan. I'll have to figure something else out. I'm going to try for Federal student loans through my school and I'm also going to try for any and all scholarships...who knows if any of them turn out, but all they can do is say no.

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Kayty - It's not that you're not good enough!! I think Wells Fargo is just really hard to get a loan from.. Like I said, I got denied with my husband as a cosigner, too, but was lucky to have my father in law be able to help cosign.. I got the Federal Stafford loan also, but I need more money, so that's why I had to apply for a loan with Wells Fargo.. If you are able to get grants, scholarships, anything besides a loan, do that first! Keep searching and doing your research, I'm sure you'll figure it out! :)

PS - Those customer complaints are pretty scary, but when I read them, I just kept in mind that that's what the website is for...complaints!

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I applied this morning - they are my only option. I have NO idea what I'm going to do if I'm not approved. I'm attending an ROP (Adult Ed) program, and there is NO financial aid offered.

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Specializes in School Nursing.

I am currently fighting with WF regarding my several years old loan. I did not apply with them to start with...I originally applied with Wachovia. My husband (co-signor on the loan) called them to see about refinancing the loan, and they gave us completely incorrect information, applied us for a brand new loan in his name without our permission and without explaining what they were doing, and then told us we would need another co-signor for the loan that we never even asked for. Customer service is a nightmare, they are poorly trained and when you ask for a supervisor they are rude and talk over you...I could barely get a word in edgewise. We are currently looking into a secured (non-educational) loan through our credit union just to get rid of them. Proceed with caution.

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Specializes in ED; Med Surg.

Don't ever, ever be a minute late. They will call you every 10 minutes, and your cosigner too. This happened to us as cosigners. I would never borrow money from them because of their tactics. They never even called the borrower, just us. Needless to say we have never cosigned again!

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Specializes in Med/Surg/Tele.

Wells Fargo took over a student loan of mine that was originally with Lehman Brothers. Since that happened, I have had nothing but problems. Harassing phone calls because I had not paid ( i was still on an in school deferment). When I call to discuss it, they were really rude and fought me tooth and nail until I had my brother in law (an attorney)send them a letter stating that I according to the terms of my loan, I would not enter repayment until 6 months after I finished school. He included documentation from my school that I was still a full time student. Never received an apology from them or anything. I have since graduated, started paying the loan, lost my job and I have now been unemployed for over a year. I called all of my creditors when I lost my job, and Wells Fargo was the ONLY one not willing to work with me. SO they were the 1st bill I stopped paying when money got tight.

And just as an FYI, I get about 10-15 phone calls from them per DAY! They NEVER leave a message, they just call my phone all day long. From 8:30am until about 9pm. When I do actually pick up they spend the entire conversation threatening me. They have threatened to take my car(still owned by the bank), my house(I do not own a house and I was evicted from my apt) my wages (ummm hello, I am unemployed!!) my tax return( I owed money to state and federal) I usually just hang up on them.

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Specializes in Med/Surg/Tele.
I actually have very good credit. I've never been late on anything in my life and I've never been turned down for any type of loan. Apparantly I'm not good enough for Wells Fargo though. Even with my husband as a cosigner. I figure it must not be meant to be that I get that big of a loan. I'll have to figure something else out. I'm going to try for Federal student loans through my school and I'm also going to try for any and all scholarships...who knows if any of them turn out, but all they can do is say no.

It is probably because they were so damn greedy, that they bought out all of the Lehman Brothers student loans and then refused to work with any of their new customers. They wanted to get paid in full (did you know that in order to get a hardship deferment you need to have a job. Every other creditor in the world considers losing your job a hardship, but not Wells Fargo) and were jerks about it so they are now losing money.

You are lucky they turned you down.... they are a horrible company to do business with.

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