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Student Loan Questions

Applying for a Private Student Loan

What should I do if I need a new private student loan?

Wells Fargo is 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. Learn more.


Student Loan Payment Options

You have various options for making payments on your private student education loan, including paying online, by phone or mail, or at a Wells Fargo banking location.

Student loan payment options


Student Loan Payment FAQs

Review and find answers to common student loan payment questions.

Frequently asked Student Loan payment questions

College costs

How much does college cost?

Estimate your college costs by visiting your school’s website and using their Net Price Calculator to help determine your total costs. This tool may help you understand what types of financing resources may be available and how certain choices, such as your living situation, can affect your costs.

How can I pay for college or graduate school?

There are several college funding options available to undergraduate and graduate students and their families, including:

  • Scholarships and Grants – While scholarships are not a guaranteed source of college funding, they can offer students an alternative to credit-based funding options. Each scholarship and grant has specific application requirements. Eligibility may be based on academic performance, ethnic heritage, or extracurricular activities. Scholarships often have specific deadlines, so be sure to research the scholarships and grants applicable to you. For additional information, consult a high school guidance counselor or search for scholarships online using TFS Scholarships.
  • Federal Aid – By completing the FAFSA (Free Application for Federal Student Aid) form, you may be eligible to receive financial aid from the federal government. The government will use tax and prior income information to determine whether you qualify for scholarships, grants or federal loans.
  • Federal PLUS Loans – Parent Loans for Undergraduate Students are available to parents of dependent undergraduates, as well as graduate and professional students. This loan can cover up to the full amount of remaining education-related expenses (minus any other financial aid received).
  • Employer Tuition Reimbursement – Some employers offer to reimburse you for eligible tuition expenses in order to encourage professional development.
  • Private Student Loans – Private student loans are most commonly based on your credit and income information. A private student loan may be used to cover your education-related expenses, including tuition, fees, books, and living expenses (minus other aid).

What types of scholarships are available for college students?

There are several types of scholarships that students may be eligible to receive, usually based on merit and need, including:

  • Merit-based – Many scholarships are based on aggregate academic performance, such as your unweighted grade point average (GPA).
  • Ethnic-related – Depending on your ethnic background, you may be eligible for a scholarship from your school of choice or the local community.
  • Volunteerism – Being active in your community may qualify you for a scholarship. Consider contacting 501(c)(3) not-for-profit organizations in your field.
  • Business-related – Check out local and national businesses to see what scholarships are being offered this year and if you qualify.

Most scholarships are offered by educational institutions, corporations, private endowments, and 501(c)(3) nonprofits. Unlike financial aid, scholarships are like gifts, and usually do not need to be repaid under most circumstances.

How do I find information on scholarships and grants?

Research may help uncover scholarship and grant options you may qualify for based on your accomplishments, background, and interests. To make the most out of your scholarship search, consider:

  • Visit career services – Talking to high school guidance counselors, college admissions offices and resource centers, teachers, community members and friends to help point you in the direction of scholarships or grants that you may qualify for based on eligibility requirements.
  • Search for scholarships onlineTFS Scholarships is an online scholarship resource designed to help students gain access to over 7 million scholarships totaling more than $41 billion.
  • Visit your school’s website – Determine if your institution offers scholarships you may apply for, based on eligibility requirements.
  • Contact community groups – Institutions within your community, such as civic and/or religious organizations, banks, or other local organizations may provide additional information on local scholarships.
  • Contact federal agencies – Visit the U.S. Department of Education for information on federal government grants and to get a copy of a FAFSA form. You must fill out the FAFSA to qualify for federal aid. Many states and colleges use the FAFSA to award aid as well.

How do I start saving for my child’s future college expenses?

The first step to saving for college is starting early. It’s important to start a savings account at a young age, if possible. Putting away a small amount now may have a big impact on your college savings over time.

Popular college savings accounts include:

  • 529 Savings Plan – Earnings on your investment grow tax-advantaged and are not subject to federal tax used to cover the costs of qualified education expenses, including tuition, fees, books, and room and board. Consult your financial advisor for more information.
  • 529 Prepaid Tuition Plans – Availability is limited to a number of private and state schools, and allows parents to “lock in” current tuition rates that are expected to increase. The prepaid plan is exempt from federal tax and allows anyone to make a contribution for the beneficiary. Consult your financial advisor for more information.
  • Education Savings Account – This account allows beneficiaries to contribute no more than $2,000 per year. Funds deposited on your behalf grow tax-advantaged. If the distributions into the ESA do not exceed the enrolled students education costs, they may not be taxed either. Consult your financial advisor for more information.

Contacting Us

Who can I contact with questions about student loans?

Payment & Statement Questions 

1-800-658-3567, select option 1 Mon – Fri: 7 am – 5 pm, Central Time Automated system also available 24 hours a day, 7 days a week

Fax: 1-800-456-0561

Mail General Inquiries to:

Wells Fargo Education Financial Services
P.O. Box 5185
Sioux Falls, SD 57117-5185

Mail Payments to:

Wells Fargo Education Financial Services
P.O. Box 10365
Des Moines, IA 50306-0365

Please write your account number on your check.