Daily News: July 22, 2016

Wells Fargo, Amazon Create New Student Loan Offering

Wells Fargo Education Financial Services and Amazon partnered to create a new interest rate discount for Amazon Prime Student customers who apply for any of Wells Fargo’s private student loan products.

“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 Wells Fargo’s 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.”

The 0.50% interest rate discount being offered by Wells Fargo to Amazon Prime Student customers can also be added to a 0.25% interest rate reduction for enrolling in an automatic monthly loan repayment plan from Wells Fargo and any interest rate discount tied to a Wells Fargo global promotion.

In addition to offering interest rate discounts, Wells Fargo also developed free online resources to help students and families prepare, plan and finance their higher education.