While customers of the marketplace universe can buy items that supplement all aspects of the college experience, end-users will now be able to purchase assistance with funding the actual university experience.
According the Wall Street Journal, Amazon is teaming up with Wells Fargo to offer discounted student financial assistance plans, as the market for private educational lending services has once again become viable.
“An Amazon spokeswoman said this is the first time members of the company’s “Prime Student” service are receiving a student-loan offer by a lender through its site since that service was launched in 2010. The discount will be offered both to students who want loans to attend college and those who want to refinance existing loans.”
Whether or not this venture marks the beginning of a committed expansion into the sector of banking by the retail giant has piqued interest through out the business community. With company’s checkered reputation of facilitating questionable business practices, including monopolistic ventures, has raised concerns should the corporation fully commit to the financial realm.
As private student loan companies allocated over 6 billion dollars in financial assistance to customers between July 2015 through March of 2016, the fervent marketplace is burgeoning for strategic and expansive growth, a situation tailored perfectly for an entity with the innumerable resources of Amazon. Maybe in five years one will be able to log into their Prime account, gain instant financial assistance approval to an on-line institution and upon graduation, a company drone will fly to their home and drop a diploma out of the sky and into the hands of our future. Just maybe.
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