Do it flamboyantly. No exceptions. No excuses. (hunnichild) wrote in bad_service,
Do it flamboyantly. No exceptions. No excuses.

Not really bad service, but really confusing.

I go to an Art Institute school and we have quarters (11 weeks long) instead of semesters (15 weeks long). Next quarter I've decided to take online classes and classes on campus in order to graduate a little early. The online classes are broken down into two different sessions that each last about 5 weeks within the 11 week quarter, so it's basically twice a many classes in the same amount of time. The point of this? I'm now going to need a shitload more money, so it's off to student loan land with me.

I do some searching and end up with Wells Fargo because the deadline to pay for next quarter's tuition is in about a week and I needed a place that could send me the check quick so I could mail it to my bank for deposit. So I'm going through, the application and get to the income question. They notify that if I don't make at least $12,000 a year, that I'd need a co-signer. No problem, my step dad is my co-singer for all my student loans, he even faxed me a copy of his most recent paystub to expedite the whole process. I check that no, I do not make that much a year, expecting a little box to pop up to enter my co-signer info, but it doesn't happen. All right, it'll probably be on the next page, then. Nope. I get through the whole application and get denied (duh!) because I don't make enough.

Fine, I go back the apply page and they have a link for co-signers. Ok, makes no sense to be here instead of in the actual application but whatever. I click the link and start putting in my step dad's info and then it asks for an application number...which I don't have. It wasn't anywhere on the application and it wasn't on the denial page so I check my e-mail because they usually send you something. Well, I have an e-mail, but still no application number. I go back to the co-signer page and put in my SSN as the app number, to see if maybe I just didn't read the application thoroughly or something. That didn't work so now it's time to call customer service.

Me: *explain situation, asks if I maybe I missed something*
CSL (Customer Service Lady): Ok, I'll look that right up for you. Can I have your SSN?
Me: I don't really feel comfortable giving out my SSN over the phone(especially since they tape all calls for "quality assurance"). Can you look it up some other way?
CSL: Sure, can you give me your name please.
Me: *gives her name, goes through the whole address and phone number verification process*
CSL: Ok, well it says here you've been denied.
Me: Yes, I know that. I don't have a job right now, so I don't make that much money. That's why I have a co-signer.
CSL: Well you won't get an application number without being pre-approved.
Me: Well, I can't get pre-approved without a co-signer. I can't enter my co-singer information without an application number. And I don't get an application number unless, I'm pre-approved. So you see my dilemma.
CSL: Well you won't get an application number without being pre-approved.
Me: .... Yes, I know that. Is there anyway to enter my co-singer information while I'm doing that application so that I can get pre-approved.
CSL: No, you need to be pre-approved before you add a co-signer.

(At this point I'm pretty frustrated. Especially since it even says on the website that must students won't qualify for this loan without a co-singer. So then why don't you have to option to add the co-signer during the application? Ugh.)

Me:I'm sorry but if I was pre-approved why would I need a co-signer? The whole reason for having a co-signer for a student loan is because you wouldn't qualify for it otherwise.
CSL: All I can tell you is that you need to be pre-approved to get an application number.
Me: Well, thank you anyway.

There was no point in getting mad at her, she obviously doesn't make the rules and it wouldn't be fair to take it all out on her. But seriously, I don't know a single college aged person that would pre-qualify for a loan without a co-signer; it just makes no sense. I'd heard some pretty crappy thing about Wells Fargo, but that's just nonsense.

Edit: I sent an email to customer service explaining the situation and asking if there was a way to add my co-signer.

There is not an option to add a cosigner to this student loan application. A letter with the specific reasons for this decision was mailed to you. Please allow 5 to 7 days for delivery.

Private student loans are intended to fill the gap when scholarships, grants, and federal student financial aid aren't enough to cover the cost of education. Because of the benefits of utilizing Federal Stafford and PLUS (Loans to Parents) loan programs first, we recommend that students seek all other financial aid options (e.g., scholarships and grants) and federal loan options before borrowing a private student loan.

My first thought was actually "LOL, what?" Honestly though, I've never heard that before. If that were the standard for any other loan, I'd understand, but a student loan? Not a lot of young people have enough credit to qualify for a loan on their own which is usually why they have a co-signer. I also love that they assumed I haven't used financial aid. If they'd noticed the information I put on my application they'd realize that I'm in the middle of the school year.Loans taken out at the time usually mean some unexpected expenses have popped up. Oh well, I'm kind of happy this couldn't be worked out. If this is the hassle I get when I'm just applying, imagine the crap I'd have to go through once I'd have to start paying it back.
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