Wells graduated from Lebanon High School in 1920 and was voted "Funniest" and "Best All-Around Boy" his senior year. Wells served as treasurer for the high school's yearbook and was involved in the school's newspaper, theater productions, and various fundraisers. After graduation Wells worked at a bank in nearby Whitestown, Indiana, to earn money for college. Although Wells's parents were supportive of his desire to continue his education, they had limited financial resources to pay for his college tuition and other expenses.