Wells Fargo and Amazon Team Together for New Student Loan Offerings

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When you think of student loan providers, what is the first name that comes to mind? I'll bet it wasn't Amazon. Get this, if you are an Amazon Prime Student member, in addition to your free two day shipping, movie and music streaming, and photo storage, Wells Fargo will give you a 0.50 percent interest rate discount on your student loan.

“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. “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 percent interest rate discount being offered by Wells Fargo to Amazon Prime Student customers can also be added to a 0.25 percent 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.
 
Seems to be on new loans only. Good to save up to .75% off a loan if you were already going to get one through Wells Fargo.
 
What ever happened to working your way through school?

Community colleges aren't that expensive.
 
IceDigger said:
What ever happened to working your way through school?

Community colleges aren't that expensive.
Click to expand...

Because school is really fucking expensive? I paid my own way through school while working and I still needed student loans. There's nothing wrong with student loans other than the way they're structured. The real fix for student loan debt is "don't loan money to people who can't pay it back".

If you go to buy a house and they say "what do you do?" and you say "I live on welfare and I smoke crack", you're not getting a loan. But for some reason if you go to college and you major in 15th century LGBT studies, you can go borrow $50,000 a year for 4 years no problem. There are some people that shouldn't get loans and some people who should but at a higher rate. Is a C student majoring in contemporary art as likely to pay back a loan as an A student majoring in biochemical engineering or computer science? Let's get real.
 
IceDigger said:
What ever happened to working your way through school?

Community colleges aren't that expensive.
Click to expand...

The government created a quandary with the (state run) universities.

School was moderately expensive, but FAFSA made it easy to get cheap (non-dischargable) loans. Naturally, with the influx of available cash in the market from prospective students, the universities started bloating their budgets so things got more expensive. On top of that, because of the volume of students able to afford school from these loans, they also devalued the degrees because of sheer supply. An associates is now a certificate, a bachelorette is now about at the associates level, and a master's is around bachelorette level. Dr/PhD is still valuable.
 
Didn't Hillary Clinton agree to go with Bernie Sanders plan for free College?
 
Wait until they link up sales databases to student loan tables.. then start nagging folks about purchases. "ಠ_ಠ Sorry Terry.. do you think you really need that 55 gallon drum of lube, or would you rather put the money towards paying off your student loans? ".
 
modi123 said:
Wait until they link up sales databases to student loan tables.. then start nagging folks about purchases. "ಠ_ಠ Sorry Terry.. do you think you really need that 55 gallon drum of lube, or would you rather put the money towards paying off your student loans? ".
Click to expand...

Well, obviously you need a 55 gallon drum of lube to make that monthly student loan payment comfortable.
 
Spidey329 said:
The government created a quandary with the (state run) universities.

School was moderately expensive, but FAFSA made it easy to get cheap (non-dischargable) loans. Naturally, with the influx of available cash in the market from prospective students, the universities started bloating their budgets so things got more expensive. On top of that, because of the volume of students able to afford school from these loans, they also devalued the degrees because of sheer supply. An associates is now a certificate, a bachelorette is now about at the associates level, and a master's is around bachelorette level. Dr/PhD is still valuable.
Click to expand...

Or States cut funding to education each year which required colleges to increase tuition year after year... College used to be affordable because States covered most of the operating expenses of colleges.
 
-Strelok- said:
I didn't realize community colleges handed out engineering degrees.
Click to expand...

You camt get quite a few courses for those programs taken care of at the local college. Then, you apply for paid internship/apprenticeship, and finish at university.

-It's what I'm doing
 
alxlwson said:
You camt get quite a few courses for those programs taken care of at the local college. Then, you apply for paid internship/apprenticeship, and finish at university.

-It's what I'm doing
Click to expand...

True, but it's not going to work for everyone. I did the community college thing for the first 2 years, but it's actually caused me to graduate half a year later due to certain classes and constraints on schedules. Either way, you still have to finish the degree at a University.
 
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