Wells Fargo has expanded the electronic signature options for customers applying for a student loan, the company said Tuesday. Customers can now register for a personal identification number (PIN) through Wells Fargo that they can use to apply for and electronically sign their student loans. Previously, customers who wanted to apply for a student loan online through Wells Fargo had to use a PIN issued through the Department of Education.
Only students applying for U.S. government-backed Stafford loans through Wells Fargo can use the online application process. However, Wells Fargo said it plans in the coming months to offer similar options for U.S. government-backed parental education loans and private loans.