Wells Fargo Student Loan Consolidation Review

wells fargo logo Wells Fargo Student Loan Consolidation ReviewWells Fargo is one of the largest student loan consolidation companies in America. Wells Fargo offers student loan consolidation for loans ranging from $5,000 to $100,000.

The private student loan consolidation offering from Wells Fargo can take 45-60 days to be processed however many people have reported it taking a much shorter period of time. Wells Fargo Private Student Loan Consolidation.

Benefits of a Wells Fargo Student Loan Consolidation

Simplified Monthly Payments - If you hold multiple student loans and are having to keep track of several monthly payments than a Wells Fargo Loan Consolidation will help reduce those multiple monthly payments to only 1 monthly payment.

Variable or Fixed Rate Option - Wells Fargo offers both a variable and fixed interest rate

2 Options to Lower Your Interest Rate

  1. Automatic Payment Discount – If you set up automatic payments than Wells Fargo will lower your interest rate by 0.25%
  2. Relationship Discount – If you have multiple services with Wells Fargo they will lower the interest rate by 0.5%

Wells Fargo Student Loan Consolidation Reviews

Since Wells Fargo is one of the largest student loan consolidation companies in America there are several stories both good and bad about

Review #1 – 5/10 – Interest Rate Too High and Customer Service Terrible!

“After graduating from College in May I wanted to see if I could consolidate my student loans at a lower interest rate. I applied to Wells Fargo and submitted the signed promissory note. 1 Week after I had faxed over the promissory note I received a Loan Disclosure form saying I had been approved and the funds had been sent to Sallie Mae.

I was under the impression from the Loan Disclosure form and the promissory note that if I didn’t like the terms I was under no obligation! Once I called Wells Fargo to try and reverse the payment since I didn’t want to go with Wells Fargo I was told basically too bad.

This problem still isn’t resolved and I wouldn’t use Wells Fargo again.

The reason I didn’t want to go with the Wells Fargo Consolidation is because the interest rate was way to high”

Original Review From – http://forums.legalmatch.com/finances-credit-collections/3710-wells-fargo-student-loan-consolidation.html

Wells Fargo Student Loan Consolidation Review Wells Fargo Student Loan Consolidation Review

Review #2 – 8/10 – Lowered My Interest Rate

“After graduating in December and having several Stafford loans I am now trying to figure out a repayment plan that leaves the most money in my pocket. 50% of my loans have a variable interest rate of 3.6% and the other 50% are fixed at 6.8%.

After applying for a Wells Fargo Student Loan Consolidation I was able to roll all my student loans into 1 consolidated student loan at the low 3.6% variable rate saving me thousands of dollars per year.”

Original Review From – http://blog.wellsfargo.com/StudentLoanDown/2009/02/can_i_lower_my_student_loan_in.html

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