Can I exchange my water damaged 5s for a reconditioned phone or have it fixed?

My young son decided that my new (3month old) 5s iphone needed to go into a full sink of water with the breakfast dishes....I have no idea how long it was in the sink, but I have tried to dry it out over a few days and when I finally plugged in the charger lead, it looked as if it was going to recharge, shortly afterwards it died and now will not work at all.
I understand this is not covered by warrenty, but I can not afford to purchase a new phone at the present time.
Being that the 5s was my first iphone, I have fallen in love with it and now I'm desperate to replace or fix the phone asap.
I have read of such exchanges of reconditioned phones and wonder if I may be able to also do this?

Hi kelllie,
Did you by any chance purchase AppleCare + for your phone? If you did, then you are covered by 2 incidents of accidental damage:
http://www.apple.com/support/products/iphone.html
If you do not have AppleCare +, then you can only see what you could get using the Apple Recycle program, and then use the gift card balance to purchase a new phone:
http://www.apple.com/recycling/gift-card/
Sorry about your son's "submarine" experiment....
GB

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