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LAST UPDATED: August 20th, 2023

Founded in 1832 and headquartered in Delaware, We Stand For Service is a service-oriented public banking company. In addition to private student loans, and private and federal student loan consolidation serviced through LendKey, WSFS Bank offers online banking and mobile banking, as well as mortgage, credit card, and business loan services.

WSFS Bank offers consolidation loans with terms from 5 to 15 years, as well as variable and fixed rate options:

  • Variable rate — Prime + 0.50%–2.00% APR
  • Fixed rate — 4.24%–6.24% APR

The rates and terms you will get will be based on your credit tier, which is a combination of factors such as your credit history and credit score.

Read more for additional information, as well as verified WSFS Bank reviews.

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The Good

  • Don't Need to Be a WSFS Bank Member to Apply
  • Parent Plus Loan Consolidation Available
  • Cosigner Release
  • Low Minimum Loan Requirement
  • Auto Pay Discount
  • No Origination Fee

Don't Need to Be a WSFS Bank Member to Apply

You don't need to be a WSFS Bank member to apply for the company's student loan consolidation/refinancing services. If you choose to apply, you will be redirected to a complete application through WSFS Bank and LendKey. The application will ask for personal and education information, as well as information to determine your eligibility.

Parent Plus Loan Consolidation Available

WSFS Bank offers refinancing on both high-interest Parent PLUS loans and private parent loans. The application takes under 15 minutes, and you can refinance amounts from $2,000 to $175,000 with terms from 5 to 15 years. In addition, there is no origination fee, and you can choose from fixed and variable rate options:

  • Variable rate — Prime + 0.50%–2.00% APR
  • Fixed rate — 4.24%–6.24% APR

Parent Plus loan consolidation is available in Delaware, Maryland, New Jersey, Pennsylvania, and Virginia.

Cosigner Release

The bank requires borrowers who are unemployed or making $0 annually to have a cosigner. Cosigners can apply for a release after 12 consecutive on-time principal and interest payments during the repayment period.

Low Minimum Loan Requirement

WSFS Bank has a low minimum loan requirement. Borrowers can refinance as little as $2,000, which is lower than industry average of approximately $5,000.

As far as maximum loan amounts, borrowers can choose to refinance up to $125,000 in undergraduate debt and up to $175,000 in graduate debt.

Auto Pay Discount

Those who sign up to make automatic payments from their WSFS Bank checking account will receive an interest rate reduction of 0.25 percent.

No Origination Fee

WSFS Bank does not charge an origination fee for its services. This is unique as most companies and lenders that offer loan products and loan refinancing products charge this fee.


The Bad

  • Limited State Availability
  • Website Lacks Important Information

Limited Availability

WSFS Bank's student loan consolidation services are only available in the following states:

  • Delaware
  • Maryland
  • New Jersey
  • Pennsylvania
  • Virginia

If you don't reside in any of the states listed above, you will need to research other student loan refinancing options available in your state of residence.

Website Lacks Important Information

The WSFS Bank website does not offer any information on the following:

  • Credit score requirement
  • Application and prepayment penalty fees

WSFS Bank does provide rates based on a credit tier on its website, but it is unclear what the credit tiers are based on and what credit score is needed to not only qualify for the lowest rate, but for WSFS Bank student loan consolidation overall.

Although a credit score requirement isn't made available, a high credit score may be required to qualify based on the low rate range offered by the company, and because of the fact that the company is a bank — banks and credit unions generally have higher credit score requirements.

While WSFS Bank doesn't charge a loan origination fee, it is unclear whether or not the bank charges an application fee or prepayment penalty fee.


The Bottom Line

WSFS Bank offers consolidation and refinancing services for both private and federal student loans. You can refinance as little as $2,000, lower than many other minimum loan amount offerings in the industry, or up to $125,000 in undergraduate debt or $175,000 in graduate debt.

While WSFS Bank does provide rate and term information on its website, it does not outline a credit score requirement, making it difficult to know what credit level is needed to qualify.

View Best Student Debt Companies

Currently, WSFS Bank reviews are limited. If you have refinanced and/or consolidated your student loan debt with this company, please tell us about your experience by leaving a review.

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Star Rating

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4 Reviews

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Chrisg Seattle, WA

Service is only found in their name. WSFS Bank has the absolute worst banking website and interface I've ever seen. The platform is not set up well, nor is it user-friendly. I'd say you'd be better off calling them, but the customer service agents have not been empowered by the bank to do anything but take payments. The phone tree system is antiquated and archaic. With so many mediocre banks to chose from, do yourself a favor and pick one with more than a 2 star rating. Don't take my word for it, reviews from every platform tell a similar story. The only positive thing to say about WSFS is that they were eager to lend. After the loan closed, the experience has been awful. I dread dealing with them and look forward to finding another bank. 1 star because 0 wasn't an option.

10 months ago

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Joey Stephens Bear, DE

Wrote over something on the checks I was trying to deposit (I’ve done this many times before), but now they are dating I can’t deposit any of them. $1500+ dollars that I can’t put into m account because of the inconsistency of this branch. Made hundreds of deposits similar and now they won’t take it. Worst banking experience ever. I do not and will not recommend WSFS for anything in the future.

5 years ago

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Walter Cachia West Chester, PA

1. If you use the electronic checking, cash is withdrawn 1-3 days in advance of the delivery date, effectively WSFS borrows your many free. Transactions set for a specific date transact at mid night of that day. Another day you money is borrowed interest free. 2. Lowest interest paid for checking, MM accounts, saving and CD's in PA.

5 years ago

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Bruce Warner Jacksonville, FL

Very restrictive custodianship practices on your money. Funds are easily deposited but they will limit withdrawals and transfers by any means necessary. If you want to run a business hoping for easy transactions go elsewhere

1 year ago