I was considering an application to Wells Fargo for their Consern student loan. After considerable communcation with them via telephone & email about their credit criteria, they finally replied back with the following. Hope this is helpful. From: consernloans@eloansecure.com Dear xxxxxxxx, Thank you for contacting the Loan Servicing Center. The ConSern Loan Program is a loan that can supplement your federalborrowing. Unlike federal loans, this loan is not guaranteed by the federal government. Loan approval, therefore, is based upon your credit history. The ConSern Loan Program determines eligibility determines eligibility by analyzing the applicant's credit history using the guidelines below. These guidelines are subject to change at our sole discretion. *A very limited number of 30, 60, 90 day past due payments on consumer loans or credit card accounts. *No judgments, charge-offs, bankruptcies, or foreclosures. *No educational loan defaults. *No federal debt delinquencies or outstanding federal liens. *Limited additional consumer debt such as consumer loans, credit cards, etc. *Appropriate educational debt levels given the applicant's grade level and anticipated graduation date *Current income sufficient for debt repayment or a creditworthy cosigner. Please remember that this information should serve as a general guide to help you understand the Wells Fargo Collegiate® Loan Program credit criteria. These guidelines are not the sole determinants of Wells Fargo Collegiate® Loan Program credit decisions. We value your business and we thank you for considering us for your financing needs. If you have additional questions or concerns, please contact our Customer Service Department at 1-800-767-5626 between the hours of 8:00 a.m. and 8:00 p.m. Central Time, Monday through Friday. Sincerely, The Loan Servicing Team
