Amazon and Wells Fargo Education Financial Services this week suddenly ended a partnership to offer low-cost loans to college students, less than six weeks after announcing the program. Wells Fargo, the largest lender of private student loans among all U.S. commercial banks, had offered a 0.50 percent discount to Amazon Prime Student customers under the partnership. They were eligible for an additional 0.25 percent rate reduction if they enrolled in the bank’s automatic monthly loan repayment plan.
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