Wells Fargo dropping student loan rate fees

Education
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SAN RAFAEL, CA – APRIL 13: A sign for a Wells Fargo bank hangs above the office on April 13, 2018 in San Rafael, California. Wells Fargo reported better than expected first quarter earnings with a profit of $5.94 billion but may need to update the results as investigations into the bank’s auto loans and […]

(CNN) – Wells Fargo tells CNN that is has stopped charging fees on student loan payments.

The company says it stopped levying the fees on November 15th.

Wells Fargo told CNN that unpaid past late fees will be waived.

But interest will continue to accrue 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.

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