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The popular beer brand Natural Light is offering to give away a combined $1 million during the Super Bowl to help pay down student debt.
With millions of Americans collectively owing over a trillion in student loan debt, one popular beer brand is doing something to help these borrowers pay back their college loans. Natural Light, commonly referred to as “Natty Light,” is offering to give away $1 million to the winners of a video contest.
During the Super Bowl, an ad for Natural Light will air to promote the video competition. Participants can enter by making a video about their reasons for going to college, but they also need to display a green money tab from an exclusive can of Natty Light.
They will then share their video on social media, using the hashtags #Contest and #NattyStories. 25 winners will be chosen, and each will be awarded $25,000 to help pay off student loan debt.
Actor Jake Johnson is partnering with Natural Light for the campaign. Johnson is encouraging students to share their stories and enter the contest, while also sharing his own experience about dropping out of high school for a year.
Johnson says he was surprised by the experience of being a drop-out and was anxious to go back to school. Johnson did return to school and attended the University of Iowa before earning his degree from NYU. Johnson said that he encourages any current students who are considering dropping out to "finish, just finish."
The 30-second ad will appear in markets that have a large number of college students and people who recently graduated. These areas include Kansas City, Kansas, Madison, Wisconsin, and Cincinnati, Ohio, among others. However, the contest is not limited to individuals that live in those areas.
Natural Light is brewed by Anheuser-Busch, which is currently the biggest brewer in the world and brews other popular brands like Budweiser and Michelob. Chelsea Phillips, the Vice President of Value Brands at Anheuser-Busch, said the company is promoting the campaign due to concerns over the increasing debt and the growing number of borrowers defaulting on their loans.
Phillips said that Natural Light and college students are a natural fit, adding, “We want to use fun, Natty Light stories to make sure people are remembering the good times of college and not have it overshadowed by the debt they have to repay.” Phillips says that winners of the contest will be chosen by graduation season.
In his role at LendEDU, Mike uses data, usually from surveys and publicly-available resources, to identify emerging personal finance trends and tell unique stories. Mike’s work, featured in major outlets like The Wall Street Journal and The Washington Post, provides consumers with a personal finance measuring stick and can help them make informed finance decisions.