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Amazon Prime going up, new subscribers have 7 days to lock in old price

File: Amazon warehouse in Campbellsville, KY
File: Amazon warehouse in Campbellsville, KY
John Sommers II/Getty Images

Online retailer has announced price hikes for both Prime and Student memberships. Amazon Prime service includes free two-day shipping on selected purchases, access to unlimited streaming of thousands of movies and TV shows through Prime Instant Video and one free Kindle book per month through the lending library. Amazon Prime will be going up $20, to $99 a year and Amazon Student will go from $39 to $49.

Beginning March 13, Amazon is offering a seven day grace period for new subscribers to lock in the old annual cost of $79. The last day to sign up is March 20, 2014. Amazon Prime members can share their membership with up to four members of their immediate household (Amazon Student members cannot.). Amazon also has a special program for families of small children called Amazon Mom. The program offers free two-day shipping, 20 percent off diapers and wipes, 20 percent off other essentials and more. It is free for ninety days and then converts to an Amazon Prime account. For details on program terms and conditions, visit