Burger King Student Loan Payment: Fast Food Giant Awarding Contest Up To $ 250,000
- Burger King is running a contest that will pay one winner up to $ 100,000 and others up to $ 500 each for their student debt payments.
- Some critics say the raffle capitalizes on people’s financial woes and the student debt problem requires political solutions.
- American borrowers owe a record $ 1.5 trillion in student loans, with 44 million Americans affected.
Americans owe a record $ 1.5 trillion in student debt, draws whereby a lucky few will get help paying off their student loans.to plunder their 401 (k) plans and some old people to give . Enter Burger King – the fast food giant sponsors $ 250,000
The contest consists of two weekly draws, with a total of 300 people winning up to $ 500 and one grand prize winner receiving $ 100,000 to pay off student debt. Anyone wishing to participate can do so through Burger King’s mobile app by registering their email address and monthly student loan payment. No food purchase is necessary. The draw runs from May 23 to June 6 and the grand prize winner will be announced around June 13.
The promotion has sparked fire from some who accuse Burger King of trying to capitalize on financial difficulties that demand serious political solutions. Adam Harris in The Atlantic called the contest was the latest “dystopian kind of debt relief,” while some on social media said Burger King could improve its workers’ problem with student loans by raising wages.
Student debt, which affects 44 million Americans, is also emerging as an important issue in the 2020 presidential campaign. Democratic candidate Senator Elizabeth Warren recentlyof student loan debt for individual borrowers.
was the target of similar criticism when he pledged last week to pay off the student debt of Morehouse College graduates, a giveaway worth around $ 40 million for the Class of 2019. a student loan, that he was seeking to exploit people’s financial difficulties.