What is Student Loan Club?

Student Loan Club is a way to give back and get back. Your donation gives underprivileged kids the tools they need to further their education, it gives you a good feeling for helping others, and it also gets you a chance to win some money for your student loans. When you donate, you earn entries to win money through the Student Loan Club Giveaway. Think charitable giving incentivized with student debt relief. We work with all-star nonprofits that focus on advancing K-12 education by providing school supplies to the kids that need them most. Our mission is to raise funds for these charities and to pay down your student loan debt. Yeah, it really is that simple.

Do I have to have student loans to donate?

No, not at all. Anyone who is looking for some good karma can contribute! Close your eyes and imagine 1st grade with no crayons… Kids face that reality everyday! We’ll take all the help we can get.

Who is eligible to win?

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 sweet 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.

How do I update my account details or change my password?

You can edit your email address, password, and payment information from your Member Dashboard.

When and how are winners chosen?

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).

If I win, do I receive a check?

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

Is my donation tax deductible?

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.  

I have more questions. How can I contact Student Loan Club directly?

We’d be happy to hear from you! The best way to reach us is at hello@studentloanclub.com