Only entrants who are U.S. citizens, 18 years of age or older, and have student loans are eligible to receive the giveaway prize. Our primary requirement is that the winner have a student loan in their name (being a cosigner is ok, too) and that the loan servicer be a recognized provider, FDIC insured bank, or other reputable lending source. If dear Aunt Patty gave you some money to put towards tuition, unfortunately, we will not be able to reimburse her. Take a look at our official rules for the full details.

Winners are selected six days after the end of each giveaway entry period and are notified via phone and/or email. Winners are chosen using a random number generator. Once the authenticity of the winner and their loan(s) are confirmed, our team members will issue payment for the corresponding amount. The prize is issued in the form of a check mailed directly to the winners’ loan servicer(s).

You personally do not receive a check, but one will be mailed by our team directly to your student loan servicer.

$4 out of ever $5 membership goes toward funding the weekly giveaway. The extra buck goes toward giveaway administration, postage, website costs, and advertising so we can grow our membership and ultimately pay back as many loans as possible.

Student Loan Club is a for-profit company and because you are receiving a chance to win a prize in exchange for your contribution, there are different interpretations regarding whether or not that donation can be deducted. Most states do not require a proof of receipt when claiming donations under $250, however, you can print the transaction email you received at the time of your purchase if you wish to write off your donation.