- Natural Light on Tuesday announced plans to award $US10 million to those with student-loan debt.
- In 2018, the beer brand donated $US1 million to 25 people to help them pay off their debt.
- The promotions by Natty Light could help draw attention to the $US1.5 trillion in student-loan debt across the United States, viewed by many as a way the American government is falling short.
The latest Natty Light promotion could shine a light on America’s massive amount of outstanding student-loan debt.
On Tuesday, Natural Light – the Anheuser-Busch-owned light beer brand often referred to as “Natty Light” – announced plans to give students and former students $US10 million over 10 years to offset student-loan debt.
The brand already donated $US1 million in 2018 to fight what the brand calls the “crippling $US1.5 trillion in collective student loan debt across America.” Over the past year, the beer brand gave 25 people who made videos about their inspiration for attending college hundreds of thousands of dollars to pay off their debt.
If you want a chance at having Natty Light pay off your college loans, you need to post a video on social media with the hashtags #NattyStories and #Contest, explaining your inspiration for going to college. The only fine print is that you need to include the green dollar-sign beer tab found on limited-edition Natty Light cans in the video.
The beer brand also plans to give out $US53,000 to fans during the Super Bowl, intended to help pay off more student loans. Those who post their Super Bowl plans to social media with the hashtags #NattySB and #sweepstakes, as well as their Cash App username, will be entered for a chance to win $US351 – the average monthly student-loan payment – via the app.
While the promotion will be great news for those who win the money, it also highlights just how massively in debt many Americans are because of student loans. The promotion might help dozens of people, but $US10 million is ultimately just a drop in the $US1.5 trillion bucket.
In some ways, the donations are reminiscent of a Domino’s promotion that rolled out in 2018. In June, the pizza chain announced a campaign to repair potholes, working with local governments to fix roads.
Road repairs are typically the responsibility of the government, paid for by taxes. The fact a pizza chain stepped up in that area seemed, for some, to be a dystopian solution.
The student-loan crisis is similarly something that many believe the government should address. Over the past 11 years, student loans have seen 157% in culminating growth, Bloomberg reports. Nearly 40% of borrowers may default on their loans by 2023, according to a Brookings Institution report.
The Higher Education Act, which in part sets parameters and processes related to student loans, has not been updated since 2008.
There is, however, a bipartisan push to rewrite the law. Until then, Natty Light will apparently be leading the charge on the student-loan crisis.