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Friday, July 22, 2016

Amazon And Student Loans

Amazon Wants to Sell You Everything, Including Student Loans

Ian Kar | July 21, 2016

Amazon sells just about everything, so why not financial services, too?
The e-commerce giant inked a deal with Wells Fargo to offer interest rate discounts on loans to students who are Amazon Prime members. The bank, which is the second largest student lender in the US, will shave off half a percentage point for Amazon “Prime Student” customers who take out student loans to attend college or are looking to refinance their existing student loans.

Amazon's New Market? Student Loans
The online retail giant's promise to provide "discounted" student loans through a new partnership with Wells Fargo elicits concerns from consumer advocates about possible duping of students.
July 22, 2016
Andrew Kreighbaum
Search "student loans" on and the results include titles like The Student Loan Scam and The Student Loan Mess: How Good Intentions Created a Trillion-Dollar Problem. Now the online retail giant is becoming involved in the student loan sector itself through a partnership with Wells Fargo.
On Thursday, Amazon and the banking and financial services company announced a partnership through which Amazon Prime Student members will be eligible for a 0.5 percentage point reduction on their interest rate for private student loans taken out through Wells Fargo Education Financial Services.

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<more at; related articles and links: (Amazon Is Now Offering Discounted Student Loans as a Prime Perk. July 22, 2016) and (Amazon Tiptoes Into Banking Business Through Student Loans. Wells Fargo to offer discounts to customers of the online retailer. July 21, 2016)>

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