August 10, 2016 by Lisa Brammer
Back-to-school sales are in full swing. But since I don’t have kids in school any longer, coupled with the fact that these sales have been going on for over a month, I’ve found that I’m somewhat desensitized to them. I can now walk past a ginormous display of back-to-school specials without batting an eye—they don’t even register.
But then, there it was, an article about a back-to-school sale of sorts that not only caught my eye, it made me smile. Seriously? I thought. But of course the question was strictly rhetorical. Of course they were serious. The “everything store” was expanding their inventory to include, well, everything.
The “everything store” I’m referring to is Amazon. The article I read was in Fortune.com. And the expanded inventory? Discounted student loans!
Last month, Amazon and Wells Fargo bank announced a partnership that would offer Amazon customers—namely members of Amazon Student Prime—student loans at a discounted rate.
Amazon put a little disclaimer on their landing page that states,” Amazon is not a lender and is not affiliated with Wells Fargo. Amazon is in no way involved in the underwriting or origination of loans from Wells Fargo. All credit decisions, including application approvals, are made solely by Wells Fargo.” I think the two companies have a you-scratch-my-back-and-I’ll-scratch-yours kind of relationship. The partnership will allow Amazon to add an additional perk to their Amazon Student Prime membership and Wells Fargo will get in front of a whole bunch of college students.
Hopefully it will not only be a win-win for the two companies, but for students as well.
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