Back in school private lender doesn't do business with

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Back in school private lender doesn't do business with

Postby tsfinancialaid » Wed Mar 10, 2010 2:27 pm

I graduated a while ago with a BA and have since decided to go back to school and work part-time. I contacted my lenders sallie mae and wells fargo, they said all they needed was a verification form from my new school to defer my loans while in school. I haven't had any problems with sallie mae, my private loan has been deferred until I graduate or leave school. Wells fargo on the other hand deferred my federal loans but not my private, the reason they gave was they don't do business with my new school. This does not seem fair, just because they don't do business with my current school doesn't mean I'm not going to school. I'm still a student and still only working part-time, I can't afford the payments they expect me to pay every month and now they are telling me they are going to send me to collections. Is there anything I can do???

thanks
TH
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Re: Back in school private lender doesn't do business with

Postby ejacobs » Thu Mar 11, 2010 7:52 am

I looked on Wells Fargo's website, and it looks like they offer temporary forbearance of private student loans while you are currently in a degree program. If you visit this link and look toward the bottom of the page, you can see the form they have you fill out and send in to request the payment hold while you are still in school.

Hope this helps,

Evan J.
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Re: Back in school private lender doesn't do business with

Postby vagirl2010 » Thu Apr 28, 2011 6:43 am

Sounds like you need to honk someone's horn higher up the ladder...if that doesn't work, move the loans.

Someone else will be happy to take away their business.
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