Add to the list another benefit to being an Amazon (AMZN Quick QuoteAMZN - Free Report) Prime member: discounted student loans. Amazon and Wells Fargo (WFC Quick QuoteWFC - Free Report) announced Thursday a partnership that will offer Amazon Prime Student members a discount on private student loans taken out through Wells Fargo Education Financial Services, the bank’s student lending arm.

Prime members are eligible for a 0.50% discount on loans issued by Wells Fargo, and are eligible for an additional 0.25% discount for enrolling in automatic monthly repayments. Prime memberships are already half-priced for students, and the offer for student loan discount clearly is a move at keeping those student members after gradutation, as their accounts would be tied to loan repayment.

Amazon Prime is at the center of the company’s retail business, and it continues to look for ways to expand its membership numbers. The partnership follows up Amazon’s recent event, Prime Day, where it offered discounts on thousands of items, but only for Prime members. In his latest annual letter to shareholders, CEO Jeff Bezos wrote that Amazon wanted Prime to be such good value that “you’d be irresponsible not to be a member”.

A report from earlier this summer indicated that 52% of all Amazon customers in the US were Prime members, and that the company’s 63 million Prime members spent more than double the amount annual- $1,200 versus $500- that non-Prime members spent on the site. Amazon is currently a Zacks Rank #3 (Hold) and shares of the company are up nearly 11% year-to-date.

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