Wells Fargo dropping student loan late fees

student loans
Posted at 1:18 AM, Nov 21, 2019
and last updated 2019-11-21 01:18:40-05

Wells Fargo has stopped charging fees on student loan payments.

The company says it stopped levying the fees on Nov. 15.

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

However, 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 part of a Wells Fargo consolidation loan.