Trilby Beresford
Updated Jul 28, 2016 @ 11:03 am
Credit: Methodshop/Flickr/Creative Commons

We all know how great Amazon Prime is, right? All the best TV shows and movies at your fingertips, plus free 2-day shipping? And let’s not even talk about the windfall that was Prime Day. Yeah, it’s a sweet deal.

But here’s something you probably didn’t know Amazon Prime is capable of, and it involves students and those overwhelmingly stressful, interest-building loans.

Here’s the skinny: Amazon has partnered with Wells Fargo to launch a new initiative that offers discounts to students with a Prime membership!

So, the regular Prime membership rate for students is $49/year, which is already half-off the standard rate. When students who are registered sign up for a private loan with Wells Fargo, they’ll become eligible for an 0.5% discount on their student loan interest rate.

Right at the get-go that might seem like an insignificant number, but depending on the interest rate of the loan and assuming this happens over time, the discount will make a dent in the loan figure. And when it comes to student loans, it’s ALL about chipping away and making dents.

This seems particularly helpful for students who need to take out a private loan to cover their education costs, because it’s no joke that annual college fees (especially in America) can be through the roof.

If you are a student with loan debt, it can often seem like there’s no end in sight. But there most definitely is, and this program (hopefully the first of many) is certainly worth looking into.