With the cost of going to college in United States Continuing to increase, students and families increasingly rely on student loans to cover tuition, accommodation and meals, and other school-related expenses. In 2020, 64% of college graduate students took out loans totaling $ 29,927 on average, a 20% increase over the average amount borrowed in 2010.1 Back-to-school spending is also expected to increase by around 13% from 2020, as students and families plan to spend on average $ 1,200 on items like electronics and dorm furniture.2 In addition to the financial stress students may experience, many are also returning to campus with additional pressures to deal with, as 89% of students said they had experienced the stress or anxiety caused by the pandemic.3
Thanks to the #VenmoU Cash Drop, students will have the opportunity to put some extra money in their pockets to start the school year off right. Students will have the chance to instantly win up to $ 500, to help them pay for anything from a $ 5 latte of their favorite cafe or $ 500 to a new laptop, and will be entered for a chance to win a $ 10,000 grand prize, which could offset tuition or give them a head start on student loan repayments.
“Getting a college degree comes at a steep price that many are struggling to afford, especially now more than ever, given the additional hardships the past year and a half has brought,” said Harlow. “In addition to adjusting to new ways of learning and living, many students are also facing new financial hurdles as a result of the pandemic. I salute each of them who are working harder than ever, despite these challenges. That’s why I’m excited to team up with Venmo to launch the #VenmoU Cash Drop to put some extra cash in some pockets to help pursue their academic dreams a little easier. “
How it works
College students can visit venmou.com, and enter the mobile number associated with their Venmo account to spin the wheel for a chance to instantly win $ 1–$ 500, sent from Jack harlow on their Venmo account. The winners will receive a confirmation number and an email. All customers who spin the wheel will also be entered for a chance to win the $ 10,000 great price.
* NO PURCHASE NECESSARY. A purchase will not increase your chances of winning. Promotion starts at 1:00 am ET to 09/29/21 and ends at 00:59:59 ET on 09/30/21. Open only to college students and graduate students enrolled in an accredited college or university within 50 US / DC who are legal residents of 50 US / DC who are 18 years of age or older. Click on here for official rules, including how to enter, odds, prize details and restrictions. Void where prohibited. Messaging and data charges may apply. Sponsor: PayPal, Inc., 2211 North First Street San jose, california 95131.
PayPal has been at the forefront of the digital payment revolution for over 20 years. By leveraging technology to make financial services and commerce more convenient, affordable and secure, the PayPal platform enables more than 400 million consumers and merchants in more than 200 markets to join and thrive in the world. Mondial economy. For more information visit paypal.com.
1 According to reported data to US News & World Report in its annual survey.
2 According to National Retail Federation back to school 2021 trend report.
3 According to a national survey of 2,051 students conducted by Active Minds in September 2020.
SOURCE PayPal Holdings, Inc.