The United States student loan debt crisis is quickly becoming a national issue. With the total student loan debt now standing at $1.3 trillion, you can understand why if you’re one of the more than 44.5 million borrowers who have student loan debt on their record.
We found twelve celebrities who are able to help out their fans with outstanding student loans by donating a substantial amount of money to a special public charity fund.
In this day and age, most people have some sort of debt. Whether it’s a mortgage, a car loan, or student loans, most people have some kind of loan they need to take care of. It doesn’t matter what the amount is, sometimes a little debt goes a long way. Here are 12 celebrities that have taken the time to help out those in need.
Being debt free after graduation is a dream come true! And Beyoncé paying off your student loan is a cool way to do it. There are many more famous student loan repayment sponsors than you might think (and it’s more fun than dealing with student loan repayment yourself). Unless it’s a scholarship program, you shouldn’t rely solely on donors (or something like GoFundMe) to pay off your student loans.
Don’t forget to inquire about scholarships, federal loan forgiveness opportunities through programs like Public Service Loan Forgiveness (PSLF), and repayment plans to prepare for the fact that you will have to pay off your student loans after graduation. Who says being a super cheerleader isn’t a creative way to pay off your student loans? You’re probably a little crazy about one of those celebrities who help students pay off their debts.
12 famous donors who repay student loans
Celebrities are not blind to insane college prices. And some of them are doing something for their biggest fans. These donors provide assistance in the form of both one-time student debt forgiveness and ongoing scholarships.
1. Taylor Swift sent her student loans toSuperfan.
Rebecca Bortniker recorded a fan video featuring a mash-up of Taylor Swift and Friends of Swift, dubbed into the opening song Friends. Swift enjoyed the video and Bortnik’s positivity so much that she sent her one of her most memorable gifts. In addition to the paint and card, she wrote a check for $1,989, which will be used to pay off Mrs. Bortnecker’s student loans.
2. Nicki Minaj helped students pay their tuition via Twitter
In 2017, Nicki Minaj posted a tweet asking students to send her their grade transcripts in exchange for paying their tuition. A few days later, Minaj posted on Instagram the names of the eight students she had helped. That week, she donated a total of $18,000, which she used to pay off seven student loans in full, in addition to textbooks and tuition. In 2018, Minaj spoke out again on Twitter and launched the Student of the Game University Foundation.
She asked fans to send a tweet with the hashtag #StudentOfTheGame and share how much money they need and what they need it for. It has helped 30 students pay off their student loans and tuition. This is not a permanent award. But Minaj still speaks openly about the importance of education on her platform. So you never know when another tweet might be the most creative way to pay off a student loan.
3. Rihanna launchesglobal scholarship program
Rihanna has topped the music charts several times. Since 2006, her priority has been to help children in need. It supports more than 24 charities and foundations, one of which is the Clara Lionel Foundation. In 2016, she added to her list of generous deeds by launching a global scholarship program through her foundation. If you were born in Brazil, Barbados, Cuba, Haiti, Grenada, Guyana or Jamaica and admitted to a four-year college or university in the United States, you are eligible for a Rihanna scholarship. If you qualify, you can get between $5,000 and $50,000.
4. Drake surprised a student with a $50,000 scholarship
Destiny James knew Drake would be coming to the University of Miami to shoot his next music video. But James won’t see her because she was busy with a completely different video that day. She received a grant and agreed to make a film for future sponsors. James decided that if it could help others pay for their education, he should do it. James didn’t know Drake had heard of their mission. He surprised her by disappearing into the background of her video. Drake gave James a $50,000 scholarship to pay for his education.
5. Beyoncé regularly attends #BeyGOOD
Beyoncé celebrated some of her biggest hits by giving them away to others. In 2017, she celebrated the one-year anniversary of the release of her album Lemonade by announcing the Formation Scholars Awards for the 2017-18 school year. The fair was for young women who weren’t afraid to think outside the box. It also supported students during the 2018-19 academic year by creating the Homecoming Scholarship Program. Available to students enrolled at any of the eight Historically Black Colleges and Universities (HBCUs). In partnership with Google, $25,000 was awarded to one winner from each school. Beyoncé continues to generously support education, and her scholarships are something to keep an eye on. All scholarship opportunities can be found on the #BeyGOOD initiative page on their website.
6. Jay-Z sponsors scholarships through the Sean Carter Foundation
In the Knowles-Carter family, generosity doesn’t stop with Beyonce. Her husband, Jay-Z, is also involved in giving money to students. During Beyoncé and Jay-Z’s OTR II tour, scholarships were awarded at each stop. The winners, who each received a $100,000 scholarship, were selected by the Boys & Girls Clubs of America, and the scholarships were funded by BeyGOOD and the Sean Carter Foundation. The Sean Carter Foundation, founded by Jay-Z, administers the Sean Carter Scholarship Fund for high school and college students. Participants must have a minimum GPA of 2.0, be a U.S. citizen, and be at least 25 years old. Most scholarships are awarded to single students, first-generation college students or students with incomes below $40,000 – or a combination of both. You can submit your application on 1 April each year. Ask me about your student loans
7. Tyrese Gibson stood out as a particularly positive student online
Tyrese Gibson was always someone who gave something back. He has been a long-time ambassador for Coca-Cola’s Pay It Forward program, which provides scholarships to young people. Just recently, the singer and actor decided to be very generous to Lorenzo Murphy, a 21-year-old student. Gibson offered Murphy a $50,000 scholarship. But Murphy wasn’t sitting still either. On social media, he was known as So Motivator. His constant support of others caught Gibson’s attention, and he decided to remove an obstacle on Murphy’s educational path.
8. Nellie awards scholarships without advertising
The rapper Nelly wants to make a difference, not impress. For years he worked undercover and helped fund the education of many in his community. The shooting of Michael Brown in Ferguson, Missouri, has hit the surrounding community hard. Without taking a public stand, Nellie established a scholarship fund in Michael Brown’s name. The foundation originally supported Brown’s two sisters and brother when they were in college. Nellie spoke openly about her belief in education, especially as a means to benefit the black community. For more than 10 years, Nellie has helped two children each year go to college on scholarships. His scholarships are not listed on any website because he chooses his students and does everything himself. His years of working and helping other Americans have helped many avoid crippling monthly payments.
9. LeBron James founded a school with the promise of a full scholarship
Pop stars and rappers aren’t the only ones doing charitable work for higher education. LeBron James, a four-time NBA champion, has founded a school for children at risk in his hometown of Akron, Ohio. In 2018, I Promise School’s first class consisted of 240 third and fourth graders. It was set up in partnership with the Akron Public Schools, and the goal is to add another 1,000 children to the student body by 2022. The best thing about the I Promise School is the promise James has made for each student’s future education. Students at this school have the opportunity to receive a full scholarship to the University of Akron. The LeBron James Family Foundation is the financial supporter of this $100 million investment in education for children. As you can see, he takes his volunteer work very seriously and is committed to ensuring that his scholarship programs serve students for life.
10. Chrissy Teigen has donated to the crowdfunding campaign for students of.
It’s not every day that your tuition crowdfunding page gets noticed by a major donor. That’s exactly what happened to Mercedes Edney in 2017. Edney created a crowdfunding page on YouCaring. She raised money to cover the cost of the beauty school. Chrissy Teigen heard about their plight and quickly donated $5,605. Ms. Edney had already raised $300, but needed a total of $6,000 for her program. Edney told NBC News that when she got a notification from PayPal, she thought there was a problem. Teigen expressed her support for Edney and her future in the beauty industry on her Twitter.
11. Oprah Winfrey is one of the most generous donors for student loan repayment
Oprah Winfrey is a billionaire, but she’s also a philanthropist. His acts of kindness extend across the globe and his presence in the media has captured the hearts of many. In 1989, Winfrey started a scholarship program at Morehouse College that continues to this day. This scholarship provides financial assistance to African-American men who want to make a difference in the world through higher education. It has donated $13 million to this scholarship fund. She also donates significant amounts to the University of Tennessee, the United Negro College Fund and more than 80 organizations in Chicago. In addition, Winfrey established a scholarship for African women in community service at New York University. Oprah is a well-known personality, and she doesn’t limit herself to donations. For some young people, it was their generosity that helped them through high school.
12. Ellen DeGeneres helped a nurse pay off her student loan
Ellen DeGeneres has awarded full scholarships to many teens and challenged viewers of the show to talk to her about their debts, including student loans. Lauren Wakefield studied nursing and had significant student loan debt. She saw the call to action on social media and left a comment. Wakefield was invited to take a seat in the audience, and DeGeneres was joined by student loan donor Nicki Minaj. Ms. Wakefield’s name was called and she was awarded the maximum scholarship of $50,000 to pay off her student loans. All of these celebrities use their excess funds to help others graduate. Since tuition will never go down and interest on PLUS loans is high, this is a much needed contribution to society. But that doesn’t mean it will happen to you, so it doesn’t hurt to have a plan if you can’t get your student loan paid off by Nellie.
Can’t find sponsors for student loan repayment?
It might be tempting to tweet Ellen or send Drake a direct message, but that’s not always the most practical way to pay off your student loan debt. Don’t hesitate to try it! However, other options also need to be explored. Most students who leave college have an average student loan debt of $28,650. If you are considering graduate school, this number could easily triple. If you are still in school, apply for some of the scholarships listed above. Other than that, Rihanna said it best: It’s time to work, work, work, work on a plan to pay off your student debt. Start by exploring the Student Loan Planner® blog.
If you have federal student loans and want to lower your payments, look into income-based installment plans. If you work full time in the public sector, you should consider getting a loan. You can also consider getting a new loan through refinancing to pay less interest, but it is important to note that you will lose your government benefits since you will have a private loan. Health care professionals, people who work for the Corporation of America, and military personnel can explore other government loan repayment programs. Also, find out if your job offers the opportunity to contribute to employee student loan repayment or offers other incentives. And you can always get advice on student loan debt. A plan for a student loan Refinance your student loan and receive a bonus in 2021.
Frequently Asked Questions
Who can help me pay off my student loans?
As the title suggests, student loan borrowers are faced with a tough path to graduation. Many will need to borrow a few hundred dollars to buy books for their first year of college, while others will need to put a few thousand dollars down on a car in order to get to school. It can seem like a scary road, but there are people out there that are willing to lend a helping hand. A student loan is one of the biggest financial burdens you’ll ever face. If you’re lucky enough to go to college debt-free, your debt may only be a few thousand dollars. But if you end up with a sizable loan, it can be a struggle to make payments. Fortunately, there are people who are willing to help pay off your debt-a few of whom are profiled in this story.
How can I get free money to pay off my student loans?
It seems like student debt is a hot topic in the news, and there are many ways to deal with the debt: some would argue that jumping through hoops to get a college degree always comes at a cost, others that it’s a good investment. So, one way to get free money to pay off your student loans is to start a business. Celebrity donors who have paid off student loans include: The average college student is carrying around over $26,000 in student loans, and financing that kind of debt is a scary proposition for anyone. Fortunately, there are some celebrities who are willing to help out, and while they are surely not the only ones who do it, they’re the ones that stand out in a crowd.
Are there programs to help pay off student loans?
Maybe you’ve heard of the average student loan debt in the US—$29,400—and that it’s top among the countries in the world. As of now, the US government has not figured out a way to pay it off. But there are some people who refuse to be powerless and have taken matters into their own hands. Student loan debt is a problem that’s growing at an alarming rate. It has been estimated that by the time of graduation, the average college graduate will owe $28,000 plus interest, an increase of over $2,000 from just last year.