For once, having a high student debt balance could be a good thing.
Tell Frontier Airlines how much you owe in student loans and you could be one of 100 lucky winners who will receive an airline mile for every dollar you owe, up to 100,000 miles, the airline announced last week.
Student loan borrowers have until August 27 to enter the sweepstakes through Frontier’s website. To enter, all you need is a student debt balance and a free Frontier Miles account.
It’s not as exciting as having your student loan balance forgiven, but the maximum prize of 100,000 miles could help you save on a budget getaway. You can book a one-way domestic flight for as little as 10,000 miles plus taxes and fees, according to Frontier’s website.
“We’re thrilled to spread a little joy among education borrowers and offer an opportunity to win free flights through this special mileage giveaway,” Tyri Squyres, vice president of marketing at Frontier, said in a press release.
The contest comes just as federal student loan borrowers gear up to begin making payments on their loans again for the first time in over three years. Interest resumes growing on federal loan balances on Sept. 1 and payments will be due in October.
Many borrowers are expected to struggle to make payments, so the Biden administration has instituted a yearlong “on-ramp” period that will help give borrowers some leeway when payments resume. Late or missed payments will not be marked delinquent or reported to credit bureaus through September 2024. Interest will continue accruing, but without impact to borrowers’ credit scores.
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