Wells Fargo Drops Student Loan Late Fees
A popular multinational financial services company has decided to stop charging fees on its student loan payments. Wells Fargo says it stopped levying the late fees on November 15th and previous unpaid late fees will be waived.
However, interest will continue to rise if no payment is made and late payments will be reported to consumer reporting agencies. Wells Fargo says the policy includes student loans from other lenders that are a part of a Wells Fargo consolidation loan.