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Wells Fargo will cut interest rates on some student loans.
The largest private student lender in United States, is launching a new loan modification program that includes an option to lower the interest rate for certain qualified borrowers.
The bank will work with customers on a one-on-one basis to determine the appropriate course of repayment and could cut interest rates to as low as 1 percent.
The program will be available to borrowers whose employment or income has changed since they began repaying their loans. The loans must be late, but not in default or delinquency.
http://www.cnbc.com/id/102202951