FAQs about Wells Fargo Private Student Loans

Please read through this page when considering a Wells Fargo Private Student Loan or a Wells Fargo Private ConsolidationSM Loan

January 28, 2021 at 11:59 PM Central Time will be the last date Wells Fargo will accept new applications for any of its private student loan products.

Up through that date, only customers with an outstanding balance on a Wells Fargo Private Student Loan are eligible to be borrowers on a new private student loan for the 2020-2021 academic year.

This means that:

  • If you have an outstanding balance on a Wells Fargo Private Student Loan, you may be eligible to receive either a Wells Fargo Private Student Loan or a Wells Fargo Private ConsolidationSM loan if you submit your application no later than January 28, 2021.
  • To successfully submit an application by this deadline, the borrower (or cosigner, if applicable) must submit a credit application for review either by phone or using our online application. When your application is successfully submitted, you will receive an email that thanks you for applying and describes the next steps to complete your loan request. Any incomplete student loan credit applications that have not been submitted for review prior to the deadline will be cancelled on January 29, 2021.
  • Wells Fargo will not be offering private student loans beyond the 2020-2021 academic year. For new applications submitted between September 23, 2020 and January 28, 2021, we will not disburse loan funds beyond June 30, 2021.
  • If you don’t have an outstanding balance on a Wells Fargo Private Student Loan, you should contact your school's financial aid office to consider other options.

    Note: Applications submitted prior to September 23, 2020 are not affected by these changes.

Refer to the FAQs below for more details on what may apply to your personal situation.

Yes. Customers with an outstanding balance on a Wells Fargo Private Student Loan may be eligible to be borrowers on a new private student loan for the 2020-2021 academic year, however an application must be submitted by no later than January 28, 2021.

No. If you don’t have an outstanding balance on Wells Fargo Private Student Loan, you should contact your school’s financial aid office to consider other options. There you can find resources and information regarding scholarships, grants, and federal student aid. In addition, your school will likely have information regarding other lenders that work with your school to provide private student loans.

Yes. Customers with an outstanding balance on a Wells Fargo Private Student Loan may be eligible to refinance or consolidate any or all of their private student loans, however an application must be submitted by no later than January 28, 2021. Wells Fargo is not refinancing federal student loans at this time. This allows affected customers to pursue the benefits announced by the Department of Education.

No. Customers who do not have an outstanding balance on a Wells Fargo Private Student Loan are not eligible to refinance or consolidate with Wells Fargo.

No. Only customers with an outstanding balance on a Wells Fargo Private Student Loan are eligible to be borrowers on a new private student loan for the 2020-2021 academic year, however they must submit an application by no later than January 28, 2021.

Yes, eligible borrowers with an outstanding balance on a Wells Fargo Private Student Loan may use an eligible cosigner, however an application must be submitted by no later than January 28, 2021.

Yes, but only for an eligible borrower with an outstanding balance on a Wells Fargo Private Student Loan who has submitted an application by no later than January 28, 2021.

Yes, eligible borrowers with an outstanding balance on a Wells Fargo Private Student Loan may use any eligible cosigner, however an application must be submitted by no later than January 28, 2021.

Yes, as long as you are the cosigner on a Wells Fargo Private Student Loan with an outstanding balance, you may be eligible to apply as the borrower on a new Wells Fargo Private Student loan. However an application must be submitted by no later than January 28, 2021. If you wish to cosign again, the borrower on the new Wells Fargo Private Student Loan must also be a returning customer with an outstanding balance on a Wells Fargo Private Student Loan and must submit an application by no later than January 28, 2021.

Questions about applying
1-800-378-5526

Mon – Fri: 7 am – 8 pm Central Time

Questions about your current student loan
1-800-658-3567

Mon – Fri: 7 am – 8 pm Central Time