SAN FRANCISCO (dpa-AFX) - Amazon.com (AMZN) and Wells Fargo (WFC) on Wednesday terminate their partnership to offer college students a discount on private student loans. The program was announced just six weeks ago.
Amazon.com and the nation's third-largest bank by assets represented Amazon's first foray into the competitive market of lending to college students. For Wells Fargo, which has aggressively tried to build up its student loan business, the partnership was meant to help the bank reach millions of potential customers who shop on Amazon and might be enticed by the bank's half-percentage point discount on its higher-education loans.
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