Donors That Pay Off Student Loans
Being without any debt after college is every student’s dream. And having a popular celebrity, let’s say Beyonce pay off your student loans is a pretty cool way to get there. Famous donors that pay off student loans are more than you might think.
Unless it’s a scholarship program, counting on donors to pay off your student loans should not be your only way out. Be sure to look out for grants, federal loan forgiveness and repayment plans so you’re fully prepared for the student loan bill that hits after graduation.
Having said that, who says being a super fan isn’t also a creative way to pay off your student loans? You’re perhaps at least a little crazy about one of these major celebrities who are helping students pay off their debt.
10 Celebrity Donors Who Pay Off Student Loans
Celebrities aren’t blind to the ever increasing prices of college. And some of them are doing something about it for their biggest fans. These donors are helping out in the form of one-time wipeouts of student debt as well as ongoing scholarships.
1. Nelly Gives out Scholarships without Any Publicity
Rapper Nelly seeks to make a change, not an impression. He worked under the radar to help fund education for several people in his community over the years.
Michael Brown’s shooting in Ferguson, Missouri hit hard on the surrounding community. Nelly created a scholarship fund in the name of Michael Brown without taking any public stance. Brown’s two sisters and brother were initially supported by the fund through university.
Nelly’s belief in education was strong, particularly as a way to elevate the black community. Nelly has been helping to send two children each year to college with a scholarship for over 10 years. His academic grants are not to be found on a website, because he picks the applicants and does it all by himself.
2. Nicki Minaj Helped Students with School Costs via Twitter
Nicki Minaj sent a tweet in 2017 asking students to send her their straight-A report cards, and she would pay for her tuition in return. A few days later, Minaj shared the names of eight students that she had helped on Instagram.
She gave that week a total of $18,000—which, besides paying for textbooks and fees, paid off seven student loans entirely.
Minaj took over to twitter again in 2018 and launched the Game College Student Fund. She asked fans to submit a hashtag #StudentOfTheGametweet asking her how much money they wanted and for what. She helped 30 students pay for loans and fees for their children.
This is not an ongoing scholarship. But Minaj is always outspoken about the importance of education, so you never know when another tweet might become the most creative way you’ve ever paid off a student loan.
3. Oprah Winfrey Is One of The Most Generous Donors to Pay Off Student Loans
Oprah Winfrey is a billionaire, but she is a philanthropist as well. She is one of those donors that pay off student loans. Her acts of kindness cover the world, and many’s hearts have been won by her media presence.
In 1989, at Morehouse College, Winfrey launched a scholarship program that still exists today.
This scholarship provides financial assistance via higher education for African American people who want to make a difference in the world. With this scholarship fund, she has contributed $13 million.
She frequently donates a large amount to Tennessee State University, the United Negro College Fund and more than 80 groups in the Chicago area. Winfrey has set up New York University’s African Women’s Public Service Fellowship.
Oprah is a household name, so donations do not deter her. For some young people, the way they were able to get through school was their kindness.
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4. Le Bron James Founded a School with The Promise of A Full Scholarship
Pop stars and rappers aren’t the only ones who are philanthropists for a college education. Lebron James, famous four-time NBA MVP, founded a school in his hometown Akron, Ohio for at-risk kids.
In 2018, I Promise School’s inaugural class was made up of 240 third and fourth graders. It was established in partnership with Akron Public Schools, and the goal is to add up to 2022 to the student population 1,000 more boys.
The best part about the I Promise School is the James promise made for the future education of each child. At this class, students have the opportunity to receive a full scholarship from Akron University.
For this planned $100 million investment in children’s education, the LeBron James Family Foundation is the financial support.
5. Beyoncé Regularly Gives Back With #BeyGOOD
Beyonce celebrated some of her biggest wins by giving back to others. In 2017, she commemorated the one-year anniversary of her album “Lemonade” by announcing the Formation Scholars awards for the academic year 2017-18.
The scholarship is targeted at teenagers without fear of thinking outside the box. She continued to give back to students through the introduction of the Homecoming Scholars Award Program in the academic year 2018-19.
Students enrolled in one of eight Universities and Colleges of Black History (HBCUs) are exempt. She collaborated with Google to provide one winner with $25,000 from each university.
Beyoncé continues to be generous with her support of education, and her scholarships are something worth keeping an eye on. All of her scholarship opportunities can be found on the #BeyGOOD initiative page of her website.
6. Jay-Z Sponsors Scholarships through the Shawn Carter Foundation
The kindness in the Knowles-Carter family doesn’t stop with Beyoncé. Her father, Jay-Z, is equally involved in providing students with money.
Scholarships are presented at each stop during the Beyoncé and Jay-Z’s OTR II Tour. The winners, each earning a $100,000 scholarship, are chosen by America’s Boys & Girls Clubs, with the scholarship being funded by BeyGOOD and the Shawn Carter Foundation.
The Shawn Carter Foundation, funded by Jay-Z, supports high school and undergraduate students from the Shawn Carter Scholarship Fund. You must have at least 2.0 GPA, you must be a U.S. citizen, and you must be 25 or younger.
The majority of the awards are given to students who come from single-parent households, are first-generation college students or have household incomes below $40,000 — or a combination of these. You can begin your application on April 1 every year.
7. Tyrese Gibson Noticed an Especially Positive Student Online
Tyrese Gibson has always had to pay for it. He has been the spokesperson for the Coca-Cola Pay It Forward program for years, which offers scholarships to youth. The singer and actor recently decided to be extra-generous to Lorenzo Murphy, a 21-year-old student.
Gibson offered a scholarship of $50,000 to Murphy. But neither was Murphy just lying around. He became known on social media as “Zo the Motivator.” Gibson, who decided to remove one obstacle from Murphy’s educational path, got his relentless support from others.
8. Rihanna Opened a Global Scholarship Program
Rihanna has been at the top of the music charts on numerous occasions. She’s also made helping children in need a priority since 2006. She supports over 24 charities and foundations, including one of her own, the Clara Lionel Foundation.
Throughout 2016, she added a global scholarship program through her foundation to her list of generosities. You may be eligible for Rihanna’s scholarship if you were born in Brazil, Barbados, Cuba, Haiti, Grenada, Guyana, or Jamaica and admitted to a four-year college or university in the U.S.
You could be awarded between $5,000 and $50,000 if you meet the requirements. This is another of those donors that pay off student loans
9. Drake Surprised a Student with A $50,000 Scholarship
Destiny James knew the rapper Drake was coming to Miami University to film his next clip of music. Yet James wouldn’t be around to see it because that day she would have committed to making a completely different video.
She had been awarded a scholarship and agreed to make a film for potential donors. James agreed it should take center stage if it was to help others pay for school.
James knew nothing, Drake learned of her and her quest. He shocked her by slipping into her video’s history. Drake gave her tuition a scholarship of $50,000 to James.
10. Taylor Swift Sent Student Loan Money to A Superfan
Rebekah Bortniker made a fan mash-up video of Taylor Swift and Swift’s friends in sync with the “Friends” intro song.
Swift was so appreciative of the video and Bortniker’s constant positivity that she sent Bortniker one of the most memorable gifts.
Alongside painting and a card, she wrote a check for $1,989 to go toward Bortniker’s student loans. This is one of those donors that pay off student loans.
Can’t Find Donors to Pay Off Your Student Loans?
While tweeting at Ellen or sending a direct message to Drake may be enticing, paying off student loan debt is not always the most practical way. Do it by anyway! But you are searching for your other choices.
Many students leaving college have a student loan debt rate of $28,650. However, that number could easily triple if you’re going for grade school.
If you are still in school, then applying for some of the above-listed scholarships is a great place to start. Otherwise, it’s better said by Rihanna: it’s time to “work, work, work, work, work” on that debt repayment program for graduates.