Your Amazon Prime membership is about to cost you more. Yep. The mega-online retailer is increasing their monthly member fees from $10.99 to $12.99/month. This works out to a $24 price jump per year. Not only is the monthly Prime fee changing, but so is the Prime Student membership price. The Student membership monthly fee will go up by $1, from $5.49 to $6.49. So what does this all mean for you?

photo: Amazon

Well if you’re a student or paying for a student’s membership, that’s an extra $12 per year the Prime membership will cost. Regular ol’ monthly Prime members (that is, non-student members) will now pay $156 per year. But you’ll still get all the benefits, such as free two-day shipping, that you’ve come to know and love.

What can you do if you’re not exactly thrilled about the price increase? You could quit Prime. But that’s probably not something that you really, really, really want to do. If dropping Prime isn’t the answer, then what is?

Again, monthly Prime members will now pay $156. But yearly Prime members will still only pay $99. That’s right. If you pay in one lump sum annually, you can save $57. Hmm, that’s a pretty good incentive. Right?

What’s your favorite part of being an Amazon Prime member? Tell us in the comments below.

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—Erica Loop