Wells Fargo Private Student Loans

Wells Fargo is exiting the student loan business – we are selling and transferring our student loans. This means that this year, Wells Fargo private student loans will be transitioned to a new loan holder and repayment will be managed by a new loan servicer, Firstmark Services, a division of Nelnet.

If you have received notice that your student loan servicing has been transferred to Firstmark Services, please visit Firstmark Services or call 1-833-531-1307 for repayment assistance.

Alert: If you need assistance or services related to COVID-19, learn more about how we can help.

General student loan questions?
Visit CollegeSTEPS® for guidance to help you manage your money confidently during college.

 

Frequently asked questions

 

When the servicing of your Wells Fargo student loans has been transferred, you will receive a welcome letter from Firstmark Services with your new account number and contact details. Once you receive this letter, please visit Firstmark Services or call 1-833-531-1307 for customer support.

After your student loan is transferred, your student loan will no longer appear on Wells Fargo Online. If your student loan is your only account with Wells Fargo, you will no longer have access to Well Fargo Online after this transfer is complete. Firstmark Services will mail you written instructions describing how to set up online access using your new account number.

If you are a borrower or cosigner with an application in progress, please call us at 1-800-378-5526 Monday to Friday: 9 am to 5 pm Central Time, or login to check your application status or sign loan documents.

If you have not received notice that your student loan servicing has transferred to Firstmark Services, please call Wells Fargo at 1-800-658-3567 Monday to Friday: 7 am to 5 pm Central Time or view payment options, learn about repayment, or get answers to your payment questions.

Yes. This student loan servicing transfer will not affect the terms and conditions of your student loan. Your rights and responsibilities, as defined in your original Promissory Note/Loan Request/Consumer Credit Agreement, will remain the same.

Loans in a forbearance status at the time of transfer will remain in a forbearance. Firstmark Services will maintain the forbearance through the agreed upon dates.

Before your student loan transfers, you will receive written communications in the mail from Wells Fargo that define which student loans will transfer and on what date. These communications will include information and instructions regarding your account, payments, online access, and other details.

After your student loan is transferred, your student loan will no longer appear on Wells Fargo Online®. If your student loan is your only account with Wells Fargo, you will no longer have access to Well Fargo Online after this transfer is complete. Firstmark Services will mail you written instructions describing how to set up online access using your new account number.

Until your student loan transfers, please continue to make your student loan payments to Wells Fargo as you normally would.

Automatic Payments (ACH): If your loan payment is set up to automatically withdraw using ACH prior to the transfer to Firstmark Services, your ACH preferences will transfer from Wells Fargo Education Financial Services to Firstmark Services. Your current payment amount will continue to be deducted on the same date every month, even if additional payments are made between due dates. After the transfer to Firstmark Services, you may access your account at Firstmark Services to make any updates to your ACH and electronic correspondence preferences.

Bill Pay: If you are using a bill pay service through your bank or other provider and wish to continue with that service, please update your account information after your loan transfers. Any payments you previously set up with your bill pay service will not work without your new Firstmark Services account number and payment address. Visit Firstmark Services for instructions on how to update your bill pay and electronic correspondence preferences.

If your student loan payments are made by someone other than you, please advise them of these changes.

After your student loan has transferred to Firstmark Services, payments should be sent to Firstmark Services. After this transfer, any payments made to Wells Fargo Education Financial Services will be transferred to Firstmark Services for processing for 120 days from your transfer date. After that 120-day period has passed, payments will no longer be accepted by Wells Fargo and any payments received will be returned. Visit Firstmark Services for your new payment instructions.

Prior to the transfer, Wells Fargo Education Financial Services will continue to manage the payment history on your private student loan. Once the student loan servicing is transferred to Firstmark Services, this information may be requested from the new loan servicer at Firstmark Services.

For 2020 tax information, if you have received notice that your loan has been transferred to Firstmark Services, please contact Firstmark Services for more information.

If you made qualifying payments in 2021, Wells Fargo will mail you an Internal Revenue Service (IRS) Form 1098-E for the portion of 2021 in which your loan was serviced by Wells Fargo Education Financial Services. This will be issued by January 31, 2022. Firstmark Services will provide you with an IRS Form 1098-E for any qualifying payments received during the remainder of 2021.

For general tax questions related to any student loan(s) still being serviced at Wells Fargo, please contact Wells Fargo at 1-800-658-3567 Monday to Friday: 7 am to 5 pm Central Time.

New cosigner release applications will only be accepted up to 40 days prior to the transfer of your student loan(s) to your new servicer. If you are within this 40-day window and you have not submitted a cosigner release application, or if the transfer of your student loan(s) has already occurred, you would need to start a cosigner release application with Firstmark Services.

For in-process cosigner release applications related to any student loan(s) not yet transferred, please contact Wells Fargo at 1-800-658-3567 Monday to Friday: 7 am to 5 pm Central Time.

As of January 28, 2021 at 6:00 PM Central Time, we are no longer accepting new applications for Wells Fargo private student loans or Wells Fargo Private ConsolidationSM loans. If you need additional financing, 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.

As of January 28, 2021 at 6:00 PM Central Time, we are no longer accepting new applications for Wells Fargo Private ConsolidationSM loans.

If you have received notice that your student loan servicing has been transferred to Firstmark Services, please visit Firstmark Services or call 1-833-531-1307.

If you have not received notice that your student loan servicing has transferred to Firstmark Services, please call Wells Fargo at 1-800-658-3567 Monday to Friday: 7 am to 5 pm Central Time.