Amazon Prime to offer discount on student loans

Wells Fargo Education Financial Services and Amazon are partnering to offer college students a new deal on loans.

Wells Fargo, the nation’s largest private student lender of U.S. commercial banks, announced an interest rate discount for Amazon Prime Student customers who apply for Wells Fargo private student loans, according to a news release.

Wells Fargo is offering 0.50 percent interest rate discount to students who have Amazon Prime. The deal can also be added to a 0.25 percent interest rate reduction for enrolling in an automatic monthly loan repayment plan from Wells Fargo, according to the company.

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“We are focused on innovation and meeting our customers where they are – and increasingly that is in the digital space,” said John Rasmussen, head of the Wells Fargo personal lending group. “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.”

Amazon Prime Student gives college students unlimited free two-day shipping on more than 30 million items, according to a news release.

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