You can add another benefit to the selection of perks that come with being a Prime customer: discounted student loans. Wells Fargo and Amazon announced yesterday plans to offer Amazon Prime Student customers a discounted interest rate on their loans.
Wells Fargo is offering a 0.50 percent interest rate discount to Amazon Prime Student customers. This can be added on top of a 0.25 percent interest rate reduction for enrolling in an automatic monthly loan repayment plan, as well as any interest rate discount tied to another Wells Fargo global promotion, says the lender.
“We are focused on innovation and meeting our customers where they are – and increasingly that is in the digital space,” said John Rasmussen, Wells Fargo’s head of Personal Lending Group, in a statement. “This is a tremendous opportunity to bring together two great brands. At Amazon and Wells Fargo, delivering exceptional customer service and helping customers are at the center of everything we do.”
The discount on student loans is being made available only to Amazon Prime Student customers, not those students whose parents may have a Prime membership of their own.
Prime Student is a special version of the Prime membership program available to those who are currently enrolled in a college or university, and have a valid .edu email address.
The program is half the cost of a regular Prime membership at $49 per year, but includes the same type of benefits, including the 2-day shipping, free streaming, and more, as well as one-day pickup service at a number of campus locations.
According to The Wall Street Journal, the partnership between Amazon and Wells Fargo has been in discussion for over a year, and involves a multi-year agreement between the two companies.
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