SKOOLL Foundation is a non-profit organization that has a mission to pay off all outstanding student loans in the US.
Great question. Imagine SKOOLL Foundation as a big pot and donors and students add to the pot. Every month donations to the pot are paid out to student loan holders. Students that have outstanding student loans (that require repayment from the lender) signup and enter student loan information into the Add Student Loan Section . Students donate up to 7% of their loan balance to the SKOOLL pot. Donors can also give charitable donations to the pot by going to Donate or Donate Anonymously.
Payments per student loan is calculated by donations for that month. We have the average for the previous month on the homepage.
We are a 501(c)(3). All Donations are tax exempt. (Including student donations from students)
They can, but if you have an account add their name (name on student loan from lender) to the SKOOLL site.
No, the only requirement is your lender has to request repayment on your student loan.