Amazon Wants To Sell You Everything, Including Student Loans (qz.com) 49
Amazon sells all kinds of stuff -- some legit, some not as much. So it didn't really come as a big surprise when the company announced that it will now be selling student loans too. Quartz has more details: The e-commerce giant inked a deal with Wells Fargo to offer interest rate discounts on loans to students who are Amazon Prime members. The bank, which is the second largest student lender in the US, will shave off half a percentage point for Amazon "Prime Student" customers who take out student loans to attend college or are looking to refinance their existing student loans.
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So Hebrew nation will become a Bank? How Long does it take?
Can Racist Goy Trolls use these banks?
Certainly. You don't suppose the Jews or Asians fall for these predatory loan scams, do you?
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Funny, I thought Hebrew National was a brand of hot dogs, not a bank. Who knew ?? (grin)
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Funny, I thought Hebrew National was a brand of hot dogs, not a bank. Who knew ?? (grin)
That was my first thought too on the headline. And they are quite delicious. Oyvey! :D
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Late payment penalties (Score:3, Interesting)
If you fall behind on your loan re-payments, you still get Free Shipping, but must use the "No Rush Shipping" option and forgo the promotional credit.
Re:Late payment penalties (Score:5, Interesting)
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But eventually if you fall far enough behind, they have an army of drones.
On the plus side... (Score:3)
Student loans are a government subsidized scam (Score:4, Informative)
Not surprising to see Amazon to look for this easy money. Banks have been ripping off students and the government for years with this scam.
Interest rates are high... much higher than most loans.
Loans are guaranteed by the government so no risk to the lender.
Students can't declare bankruptcy and discharge the loans so they are on the hook for life.
Side note: when my daughters started college a few years ago, I was deluged with calls from student loan salespeople. Reminded me of home refinance deluge just before the crash. Fortunately, I had saved enough for their education so I was able to tell them to get lost.
banks / schools need to take risk Students loans (Score:2)
banks / schools need to take risk for Students loans and not the unlimited anyone with anyone with a pulse can get system we have now.
medieval studies degree for 80K sing right hear. We don't care that you have no hope of a job to pay that back we don't care you can't use chapter 11 or 7 to get out of it.
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Sounds like a great degree for a person who wants to write history books. Give them a couple decades to start being realistic about what they can actually use it for, if they never manage to develop any other skills.
If the student wants job training, they should be at a technical school; and deciding that is the student's part, not the school's.
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Well you can go to Mitt Romney backed full sail university for 80K-100K there are an technical school.
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Not *really* selling student loans (Score:4, Insightful)
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and then in 2017 trump or Hillary changes the rules and you take a beating.
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Ha, yeah right - that would imply either care about anyone but themselves.
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I figure there has to be some risk with even the apparent advantages.
For one, you still have to collect on deadbeats. That's not easy.
There could be some kind of shift in the so-called gig economy where like minded student loan evaders eke out some kind of cash-only existence, making them even harder to trace and collect on.
Then there's potential for political action. It's not hard to imagine some kind of "student loan debt relief" where Congress basically forces the holders of these loans to take a hairc
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No risk to the lender. The government covers losses.
They hire sleazy debt collectors to harass students who can't pay.
The only kind of debt relief that might happen is for the taxpayer to bail out the banks. That's the way our bank owned government works. Heads they win, tails we lose.
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Seriously Slashdot? (Score:2)
I get that you need ads to pay the bills, but to go to the main page and see one of Outbrain's evil sub-sites with that tiresome "Melissa McCarthy's Gone" advertisement? What the fuck makes you think that anyone here gives a flying fuck about celebrities, or that such an obviously non-topical ad on the main page wouldn't be fucking annoying?
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Big'n Large (Score:2)
Anyone else starting to think that soon Amazon will turn into the distopian Wall-E mega-store? Bezos already has his space hobby going as a side gig.
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I thought that happened 10+ years ago, where were you?
I still shop at the local independent bookstore...
Fuck Amazon (Score:2)
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They only needed to convince a few people in government to overlook the scam. In most countries this is called bribery. In the US, it's called campaign donations.
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tuition is what the market will bear.. federal guaranteed loans = higher prices..
Its the new business model (Score:1)
"How to succeed in business when your customers aren't making a living wage"
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Cheap Chinese knockoffs? (Score:4, Interesting)
Are these going to be counterfeit too?
0.5% on a high interest loan (Score:2)
An average $1000-2000 over 10 years, the origination, application and prepayment fees alone are double that.
Not what I hoped for. (Score:2)
Specifically one with anything from my family.
Then I could 'forgive' all of it, including those of my family, ask for donations from the forgiven and anyone else afterwards, and if there's enough, do it for another block. (There's a reason why some from my family may be in there, we're too damn poor to pay it, much less play Santa Clause without resources.)
Rinse, Repeat, Rack up Karma.
Maybe it'
Uhh... (Score:1)
I'd like to buy the ability to watch a video on youtube without being forced to listen to their "it's your friend's birthday blah blah blah blah" ad.
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YouTube for Android.... (the app)